I lost $10,000 two days ago

Oh well, I will just have to sell more work.

Yesterday was solid. My project was moving along, I published some content, life was good.

Then came the email.

Earlier in the week, a client requested drawings for a project.

Sent the request  over to my vendor, no issues.

Then, boom.

Vendor’s reply (short version):
"Hey Sidney, I need to re-quote the materials, prices have increased since November.

Also, last time we spoke, I didn’t include the _____."

Assumption #1 (my mistake):
I wasn’t sure I’d win the bid, so I used broad-stroke estimates, a little padding here, a little there, and I landed on a number.

Reality check:
My material cost was $20,000 off.

After factoring in labor, I’m still $10K short.

Not ideal.

But I’m not freaking the F out.

I took a closer look at the updated estimate, it turns out the vendor’s count is off by eight units.

So the loss?

Could be worse.

Not likely better.

Still digging.

Speed vs. accuracy.

I built in some fluff elsewhere in my model that might cover this gap.

Mentioned the shortfall casually to my partner on Thursday.

Friday we had a EOBD call, and broke it all down.

I needed all the details before I was ready to face it head-on.

Business moves fast.

Mistakes happen.

The upside in this venture?

I found three other vendors closer to the job site.

Now that I’ve secured the contract, I can get fresh quotes, and maybe better pricing or lead times.

If I thread this needle just right, I might come out intact.

This is the coolest part about having your own money on the line

YOU. MUST. FIND. A. WAY.

And, when all else fails, sell more work.