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    How To Boost Your Private Investigation Business Into Orbit: Make $1,000 Every Working Day!
    How To Boost Your Private Investigation Business Into Orbit: Make $1,000 Every Working Day!
    How To Boost Your Private Investigation Business Into Orbit: Make $1,000 Every Working Day!
    Ebook102 pages1 hour

    How To Boost Your Private Investigation Business Into Orbit: Make $1,000 Every Working Day!

    By John A. Hoda

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    About this ebook

    Making $1,000 every working day as a PI is an achievable goal. How can you start doing so? Slogging every day just to make ends meet? Working long hours with no time for yourself? Maybe things are going well and you want to take your company to the next level. How would you sell your company when the time comes? Do you have an exit strategy.? Veteran Private Investigator John A. Hoda writes exclusively for Private Investigators. What might work for a Pizza shop or a Pest Control company may not work for your unique situation. He does not preach a one-size-fits-all message and instead covers the broad spectrum of business models to give you a la carte selection to choose from. Several sections drill deep into employee hiring and supervision. The checklists alone are worth the price of the book. You can "boost" your business to the next level starting today. 

    LanguageEnglish
    PublisherJohn A. Hoda
    Release dateApr 14, 2019
    ISBN9780989020169
    How To Boost Your Private Investigation Business Into Orbit: Make $1,000 Every Working Day!
    Author

    John A. Hoda

    John A. Hoda is an investigator and author. He blogs, YouTubes, and podcasts from his All Things Investigative website. www.johnhoda.com. He is a former police officer and insurance fraud investigator. He is a licensed Private Investigator with expertise in Forensic Genealogy and Investigative Interviewing and is the creator of the DVD: The Ultimate Guide to Taking Statements. He is a Certified  Legal Investigator and Certified Fraud Examiner. He has sat on the board of the National Association of Legal Investigators and the CT Assoc. of Licensed Private Investigators. He has run marathons and bicycled long distance. He played club soccer and semi-professional football. He has written, produced and acted in amateur theatre in New Haven, CT. He is the Author of Phantasy Baseball: It's about a second chance and Mugshots: My favorite Detective Stories

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      Book preview

      How To Boost Your Private Investigation Business Into Orbit - John A. Hoda

      How to Boost Your Private Investigation Business

      HOW TO BOOST YOUR PRIVATE INVESTIGATION BUSINESS

      JOHN A HODA

      All Things Investigative, LLC

      Copyright © 2019 by John A Hoda

      All rights reserved.

      No part of this book may be reproduced in any form or by any electronic or mechanical means, including information storage and retrieval systems, without written permission from the author, except for the use of brief quotations in a book review.

      Vellum flower icon Created with Vellum

      CONTENTS

      Introduction

      1. Overview Of This Book

      Section 1

      2. Section 2 JUST DO IT. INCREASE REVENUE

      3. Section 3: Wearing Less Hats

      4. Training to Competency

      5. Section 6 Huddling

      6. Section 7 Sharpening The Saw

      7. Section 8 Booster Rocket Engine Engage!

      Afterword

      Also by John A Hoda

      Acknowledgments

      INTRODUCTION

      You are a licensed private investigator and you own an investigations business. You may exceed expenses with your revenues, but you don't have a plan for taking your business to the next level.

      Maybe you are tired of treading water with all the exertion needed to just stay afloat.

      You might be planning to start your PI business but are unsure how to expand your business once you start making enough money to pay your bills.

      For those slogging along or just starting out, we are talking about boosting your business.

      I use an orbiting rocket for this book in the series. Overcoming gravity and the drag of the atmosphere is paramount for a successful launch, but the rocket scientists figured out they need a booster stage to take the payload into a sustainable orbit where only a tiny amount guidance and thruster energy, by comparison, is needed to give you those beautiful photos from space. I thought long and hard on this analogy both for internal resistance (gravity) and external forces on your business (atmospheric drag) and how to overcome them with a booster rocket (Ideas from this book).

      The concept of making $1,000 every working day is the orbiting goal. How does $261,000 a year sound? The experts say 261days is the average number of working days a year. That number does not include holidays and vacations. Let's assume you take all the holidays and two weeks of vacation. You would still be looking at around 240 days a year or $240,000. That is a lot of money for most people, but it also sounds a little daunting and maybe unachievable. I am told that you eat an elephant one bite at a time. I have never eaten an elephant. It doesn't sound appealing, so let's change the analogy to, Let's take it one day at a time.

      Can you do this as a solo? Yes. Is it better to have some help? Yes. Want to own a business that runs without you in fulfillment or operations? I will give you an example how that works. For that example, you will need to make more than $261K a year, but we will cross that bridge when we come to it, if you choose to work every week day every week.

      Whether you are a solo practitioner or have a team working with you, it is possible to invoice $1,000 a day, every working day. Whoa, you say, if that is your top line, what is the bottom line after overhead? What about taxes?

      I agree. We need to define make right now.

      Make means gross - How much you gross each working day.

      Make is not net. It is not after you take out all your expenses apportioned for that day.

      Make is not net after taxes. It is not after your expenses and your taxes apportioned for that day.

      Make is the top line. Revenue - even above the cost of goods sold (COGS).

      Stop here if you think I misled you. If you are not interested in learning how to receive payments from clients and/or customers to the tune of almost a quarter-million a year I will gladly refund your money for this book.

      If you gross $1,000 a day, but it costs you $1,250 in overhead, then we are not talking about an orbiting rocket, but a sinking ship on its way to the bottom. So, we will be mindful of expenses from here on.

      Rekka can you make a pyramid below this paragraph

      Part of the reason I focus on the top line is simple. You have a daily goal. You have to set up enough cases you can plan to execute $1,000 of invoices every working day. To have enough cases that you bill a grand every working day means you need to have enough cases in your pipeline. To have enough cases in your pipeline, you need a steady flow of clients and/or repeat customers. To have a steady flow of clients and/or repeat customers, you need a scalable and repeatable marketing program. Of course, all this is predicated on you providing a service that meets or exceeds customer expectations which you can deliver in an efficient manner.

      $1,000 work day

      Cases in Pipeline

      New Clients-Repeat Customers

      Scalable and Repeatable Marketing Program

      Quality services, product and lean processes

      You invoice your time either hourly, on flat rates, by contract, or with a budget. Hourly is a simple calculation. For example, you bill $150 an hour for some work. Your other services have a weighted average. For example, you perform an asset check and charge a flat rate of $350 and it takes you two hours on average. You make $175 an hour for that flat rate. In this example, we'll say you bill four hours to a file and do one asset check. You invoice $950 for the day. Oh, that was close.

      If you can break your goal down to daily billing, it gets a lot simpler to work backwards from there.

      I will tell you here I did not hit a home run with my first business. If I did, that would be boring. I made mistakes and I stubbornly continued to make those mistakes. It was not until the market changed like quicksand under my feet that scrambled and learned how to run a business. Until then, I managed a group of highly-trained employees. I focused on learning more about our tradecraft than the business of investigations. I stumbled and made false steps until I couldn't take my own gravity (resistance) any longer. Even then, I had to take baby steps before I could walk.

      It is better to learn from my mistakes than spend time, money, and emotional attachment on chasing down the dream along the wrong path. These lessons were hard-earned, and I hope to point them out to you so you can avoid stepping on snakes when you are lost in the weeds.

      If I say to you, Do as I did to change your attitude and to begin implementing sound business advice, you would only get a narrow view of my path. Instead, I have created two other characters with different backgrounds, goals, wants, need, and fears. Their companies meet completely different customer segments. We’ll watch them launch and learn how they market to those segments in the two previous books in this series. On this spectrum of

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