Take classes on business administration. If you’re eager to learn more about what goes into operating a private business, consider furthering your education on the college level. You can enroll in business courses at your local university or community college. Look through their catalog and sign up for classes that you think will translate to the daily demands of the job, like cost management, staffing and tax fundamentals.
Oh, where to begin? Let me start with 'watered down paint'. 25-50% before the material gets to the site? Impossible. You would basically be painting with water at that point. It would be less of a hassle, and cost, to simply use proper material. You would be forced to apply three coats instead of two, as the coverage would be horrible. Whatever cost you think might be saved in materials would be lost in labor.