Incorrect Bid Estimation
I really screwed up on this random business opportunity. It's understandable given the fact we haven't been in business for such a long time. Boo. I estimated we would earn about $1500 for about four hours of work. Not bad at all. The reality is that it's going to take a few more hours than anticipated.
The negotiated contract is actually for $40,000. For six to eight weeks of work. I'm ready to faint., and this is only one contract. We can reasonably expect a minimum of four contracts each month. That could be an income of anywhere between $20-80K a month, and still no capitol investment, labour, or overhead required.
The crazy part - this is just Phase 1. Phase 2 will make Phase 1 look like chump change, but will take about 4-6 months to put it in place, plus investing in a few computer upgrades and actually going out to sell the business. And sell it will, no doubt of that.
We're both floored with this opportunity. In all honesty, even if we only accept 2 contracts of this magnitude each year, I would be fine with that. But as long as we can make this type of money, why not go for it with gusto?
I keep praising God for his goodness.
The negotiated contract is actually for $40,000. For six to eight weeks of work. I'm ready to faint., and this is only one contract. We can reasonably expect a minimum of four contracts each month. That could be an income of anywhere between $20-80K a month, and still no capitol investment, labour, or overhead required.
The crazy part - this is just Phase 1. Phase 2 will make Phase 1 look like chump change, but will take about 4-6 months to put it in place, plus investing in a few computer upgrades and actually going out to sell the business. And sell it will, no doubt of that.
We're both floored with this opportunity. In all honesty, even if we only accept 2 contracts of this magnitude each year, I would be fine with that. But as long as we can make this type of money, why not go for it with gusto?
I keep praising God for his goodness.