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Thread: Finders fee!!!

  1. #1

    Finders fee!!!

    I work for a medium size commercial and industrial mechanical contractor. I have 16 years in the trade and have been here for just over a year. When I hired in, I new I had an abundant customer base on my own and they stared to trickle in slowly, but surely about 5 months after I hired in. Now I am in a situation where my customer base alone has generated over $500,000 in the last 5 months, and my owner/ boss is getting more greedy by the day. Certain perks are being removed and he seems to be growing more paranoid by the day. I am really just buying my time until next summer to go on my own as I am planning and paying for my wedding in February. So my question is, should I be getting a finders fee for the amoun of work I am bringing to the table, well, I think I should be. I don't want to ruffle any feathers as I need steady income until this wedding mayhem is over, but I feel I should be entitled to a significant amount of money by now, and haven't even received an atta boy. Is there something wrong with this picture????

  2. #2
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    Oct 2001
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    if you didn't get it(%...of $$) at the interview forget about it.now that your work is generating bug bucks it's all his,and he is going to flip if you try to touch HIS money
    "when in doubt...jump it out" http://www.youtube.com/watch?v=U1qEZHhJubY

  3. #3
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    Quote Originally Posted by maxster View Post
    if you didn't get it(%...of $$) at the interview forget about it.now that your work is generating bug bucks it's all his,and he is going to flip if you try to touch HIS money
    This x100.

    You should have kept your customers separate.

    Others here will try and tell you that you should just be grateful you work for the guy and you owe him. Side jobs are immoral.
    UA LU189

    10mm, because it's better than .45acp

  4. #4
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    why would you work for somebody when you have such huge income potential working on your own?
    You have no legal rights to any of your employers customers, it really doesn't matter if they were your first. water under the bridge, move on.

  5. #5
    Quote Originally Posted by maxster View Post
    if you didn't get it(%...of $$) at the interview forget about it.now that your work is generating bug bucks it's all his,and he is going to flip if you try to touch HIS money
    Yeah, at the time, I didn't know theses customers were going to follow me. Now that perks are being taken away and he wants to make things more "black and white". With no grey areas, then business is business. I have already spoke with my customers, as I am the one that manages them all, from the field I might add, they have all expressed their loyalty to me and not my company, and do what you gotta do, is the general consensus, in terms of pulling the plug and moving them to another company and then getting my percentage and micro managing from the field. As it sits they all call me direct, not my company. I just am not sure how to approach the owner with these demands. I guess truthfully, I really don't care about ruffling feathers business is businesswhetherbits discussed then or now, it would be just a matter of his John Hancock on an iron clad contract or I pull the plug!

  6. #6
    These aren't side jobs, their large automotive facilities, and going on my own , which I intend to do after my wedding, unfortunately requires a financial backer, as it would take at least five high dollar guys to maintain my work, and the automotive industry likes to do things in terms of net 60, which means I have to float $20,000 per man until my payday! Just buying my time, really!

  7. #7
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    starting a business requires capital, I let great opportunities pass by cause I didnt have the dough, I almost became the co-owner of an oil well in Nigeria but the guy that sent me the e-mail wanted too much money upfront.

  8. #8
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    Quote Originally Posted by valdelocc View Post
    why would you work for somebody when you have such huge income potential working on your own?
    You have no legal rights to any of your employers customers, it really doesn't matter if they were your first. water under the bridge, move on.
    and his "boss" has no right either ... Customers can buy where they want ... The "boss" doesn't "own" these customers and neither does the OP.

    And if under contract those expire or often have a 30 day out etc...

    I am sick of companies thinking they own customers ...

    If you please them they will stay ,if you don't they will shop...
    mikeacman

  9. #9
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    I'd say that if the customers want YOU as their "go to" guy, then I don't see the problem with taking them when you start your own company.

    You could try to negotiate with your empoyer, but chances are greed blurs his vision. He wants it all or nothing. An ego thing, IMO.

    You bring him an addition 500K in business, and he takes away perks. Should already tell you what kind of an employer you have. Don't be like him when you start your own business, as the lesson to learn is, it chases away good workers.

    Good luck to you, in any event.

  10. #10
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    500 k is probably just enough to cover a man,girl in the office part time, an office, benefits, insurances, truck, wear and tear, and a little profit. It isnt a bankroll by any means. I used to bring in several million to my former employer when I was a service guy working with the tools. I never asked for a dime over the rate, but then again, I didnt have to do that. My boss appreciated it, and found ways to show me.

    Now, on to the question. The answer depends upon many factors, but the relaity is that he should be doing something for you. My feel is that you were hired to be a tech in his company. So, you wird hired with no expectations right? He was supposed to supply all of the proper conditions to keep you gainfully employed. In return, he takes the risk and pays you every friday. A GOOD BOSS would recognize where the work came from, and reward you for it, but doesnt have to do that. If you wanted referral fees, commission, bonueses, you had a few choices, negotiate it up front, or become a sales guy and take on some risk. As a tech, you should be paid well, and if you are briniging in work, should benear or at the top of the pile in your office.

    In the market today, can you tell me what his true cost of doing business are? do you have all of the information to do so? if so, can you see his receivables? how much does it cost him to wait for his money? in short, is the 500 k actually profitable work, or does he let you do it as filler work to keep guys working? All owners will take some work from time ot time, just to keep guys working. It isnt a good tihng, but it happens. So, lets say its making five percent. The cost of carrying that money makes it a wash, then you want to be paid for bringing it in?!!!

    I know this will be an unpopular answer, but the reality is, if the grass is soo green, why are you playing on the dirt? Jump in, the water is jusst fine. The end of the third month, you will understand.

  11. #11
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    If you are only making 5% on 500K worth of work, you'll have many serious issues with just staying in business......

    Yeah, that 500K may only cover so many expenses AND make you a little profit, but we aren't talking about the OP'er opening a business. We are speaking about his employer BENEFITING ANOTHER 500K from one employee bringing business with him. You're right, it should have been negotiated up front, but if the bossman is taking away perks, even though this employee is bringing an ADDITIONAL half million in business, well, can you really defend that?

    Should he? Yea, IMO. He already has half a million in work.... How many guys starting out have that benefit?

  12. #12
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    Mar 2003
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    well, a guy starting out is completely different than a guy in business. Taking clients to an established business is one thing, taking them to a one man band another. clients arent dumb. Will all of them jump? of those who do, will the same level of service be provided? if not, will they stay for as long as ittakes to build the biz? life isnt always as simple as it appears from behindthe curtain. The only way ot know for sure is jump in with both feet and no parachute, and flap your arms as hard as it takes to fly. There are things that matter, suhc as creditworthiness, bonding, service call response time, and so forth. Can he guarantee a four hour response to two customers at the same time? I bet his current employer can. How does one guy go to both places if need be?

  13. #13
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    my 5 % was a hypothetical, since no one knows the real numbers. How do we know the man didnt bring contracts in that arent truly profitable?? a lot of service tehcs only see the number of the contract, and dont follow all of the soft costs attached to it. Boss is already in business. Bosses dont tighten the reins when cash is a plenty, they do so when it gets tight. Why is it tight?

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