Ugh...losing business

[SoFlaBassAddict]

Well, this year is starting out great. I come into the office today to find out that I've lost a 250k contract for the beginning of the year. Suddenly out of the blue, a client I've had for five years is deciding to go a different direction. I'll still probably end up with around a half of that, but man that hurts. The bad part is they went with another company that I helped start up. And they physically are not capable of doing the job. They just don't have the work space or the manpower. I'm seriously ticked off about losing some serious cash.

I need a beer...

/endrant

[1inStripes]

If the other company is going to be hurting that bad trying to handle it, they will probably be back to you, or you will pick up the other business since your competitor can't handle the work load of others.

[SoFlaBassAddict]

Thats basically what I'm hoping.  His prices are also excessively high for what he provides.  I hope they do well, don't get me wrong.  Good group of people over there.  Who knows, we'll end up seeing what happens.  I just hate the thought of losing money thats been there for the last couple of years.  I need to find some other jobs now to pick up the slack.

[grimlin]

Things like this is what is hurting this economy.There is so much competition out there for job contracts.

It happens a lot at my work. We lost 3 major contracts 2 years ago,I was laid off for a whole year last year and the company is still recovering from that hit.We are getting our business back.However we lost an entire shift of people who pretty much has been out of a job with us for over 2 years.Some of them haven't even found jobs yet.

[SirSnookalot]

I can speak to this first hand as it's happened to me numerous times in business ownership. Even in the best of times accounts move for one reason or another, that's business.  Only 1 option remains, be positive and replace it, you're still young time is on your side.

I'll give you some real advice, the chances of that account coming back are remote at best, when they are gone, they're gone, regardless of what you're appraisal of the situation is.  The sooner you come to grips with that the better off you will be be.  Even if the account did come back you have only broken even, you're not ahead and getting ahead is what business is all about.  Feeling bad and having people console you, will never put sheckels in your pocket.  A year from now you'll laff at this episode as you will have taken your business to a level never thought imaginable.

[Lund Explorer]

I can speak to this first hand as it's happened to me numerous times in business ownership. Even in the best of times accounts move for one reason or another, that's business. Only 1 option remains, be positive and replace it, you're still young time is on your side.

I'll give you some real advice, the chances of that account coming back are remote at best, when they are gone, they're gone, regardless of what you're appraisal of the situation is. The sooner you come to grips with that the better off you will be be. Even if the account did come back you have only broken even, you're not ahead and getting ahead is what business is all about. Feeling bad and having people console you, will never put sheckels in your pocket. A year from now you'll laff at this episode as you will have taken your business to a level never thought imaginable.

  That is EXACTLY what I would have said. 

Good luck.

[SoFlaBassAddict]

You know what, sometimes stuff happens for a reason.  I picked up another job, during the same timeframe that actually will probably be worth more pure profit than the job that I lost.  Best part is that it's in Atlantis.  Another plus, some of the clients have stopped doing business with the other contracting company and are going direct through my company.  Because they decided not to renew the contract, I'm able to deal directly with the individual client.  Gotta love it when stuff like that happens.

[Siebert Outdoors]

Good to hear you picked up another client.

Heck,  if they cant handle that work sell yourself as a sub contractor to them then take them to the bank since they bid it high and cant fallow through.. ;D

[SoFlaBassAddict]

Believe me, thats already running through my mind.  Once the specifics get released for the job, I may submit a proposal to them.

My other option is to sit on my hands and wait for them to come to me.

[BASSclary]

Whats your line of work if you don't mind me asking?

[Root beer]

I wish I had the ability to speak foreign language. There's an untapped market out there. 

[SoFlaBassAddict]

Whats your line of work if you don't mind me asking?

Special Events and Production Services

Full service lighting and audio.  Floral, linen, set design, and carpentry.

[BASSclary]

Oh I see. So for example, (If you've seen Step Brothers) You would be the ones who physically put together the Catalina Classic?

[piscicidal]

Prestige worldwide. LOL.

Eric, I got that beer for you bro.

Hang in there...this economy blows, but along with struggle comes opportunity.

[SoFlaBassAddict]

Oh I see. So for example, (If you've seen Step Brothers) You would be the ones who physically put together the Catalina Classic?

Something like that. On a different scale though. Most of my business is generated from large corporate events. We've done a lot of stuff with the NFL (Super Bowl, Pro Bowl, etc etc), the Miami Heat, UM, the BCS Championship Game and the Orange Bowl Game, Casa Casurina (Versace's House), and Food Network to name a few. Everything we do is in house though. No outsourcing except for specialty items that I can't cost effectively build.

Don't get into this business right now.  The recession killed a lot of it.  Thankfully business is steadily picking back up.  I probably lost close to 75% of total income when everything crashed.

[bass or bass ?]

I know what you're saying. I own a dental laboratory and this profession has seen a huge drop off in the last two years. A good friend of mine closed his doors this year. I've been barely surviving on about one half to one third of what I took in previous to the last two years. And there is no sign of any turn around any time soon in Arizona's economy.

Fishing time has taken an almost fatal hit. Just can't afford it. I've had my boat out three times this year.

[Glenn]

When I was a professional pyrotechnician, we were hired all the time by companies like yours.  Did a lot of venues that way, and had a lot of fun!  Good times!

[SoFlaBassAddict]

When I was a professional pyrotechnician, we were hired all the time by companies like yours. Did a lot of venues that way, and had a lot of fun! Good times!

Do you still have all of your fingers?  One of the companies I use down here has some great guys working for them.  One or two of them are missing a few digits.  On their hands and in their heads...

Yeah, it can be a lot of fun.  I do get the opportunity to travel quite a bit.  My brother is heading over to China for a job next month.  As much fun as it can be, it's also a ridiculous amount of work during the busy season.  Lots of very late nights.