agent_86
April 8th, 2009, 1:26 am
I am a lifelong entrepreneur, and have had many businesses in all types of economies.
I currently own 2 successful businesses... and by successful, I mean paying the bills and making some profit.
One is steady and one is growing.
Anyway, I wanted to remind everyone how easy it is to launch a business. By easy, I of course mean simple. It's gonna take work.
1. Decide what skills you have to offer. In my case, I fix and setup computers and networks, but in my other business that just expanded, we took on doing handyman type work... which by the way, is a good business for the "fixers" out there -- many people are fixing up houses now that they are stuck with them for while. The preference would be something you're already equipped to do. Consulting is a huge business. If you have years of experience in a certain field, hire yourself out as an expert in that field. People will actually pay you to give them advice.
2. Decide what you're gonna charge. This is a bit tricky, well maybe not. Anytime I've started a business, I've called my would-be competitors and probed for what they charge. Get the high and low, and maybe ask around about who's service is best, etc. Basically do a few days of research to see what your industry is doing in your area.
If yard mowers are seeing a slow down in the area, you want to attract more customers. And offering a price in the low end of the range will bring you more volume of customers. You can always thin your base by raising prices later.
People are looking for deals, and if you offer one, you will get customers.
3. Marketing. I've tried many methods, but the most effective is face to face, owner to customer interaction. It doesn't have to be fancy or wordy. You want to talk directly to your potential customer. Both my businesses service other businesses, so I go right to businesses. My approach is as follows, and has far greater success than ANY paid marketing I've tried:
"Hi, my name is ------ with (name of company). I was just in this area doing some business and thought it appropriate to pass out some business cards. Please keep me in mind if you need (what you do) if not, please pass the card on. Thanks."
The goal is to take up no time in THEIR busy day. They will appreciate the pith. But be prepared, some people will ask you to stay and give prices, explanations, clarifications etc. Many times people that seemed the least interested will become your best customers.
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That's it.
Now I put it in chronological order, but the most critical thing is #3, when starting a business. You should devote at least 2 hours every other day canvassing. If you talk to 30 people a day, you will get business. I find the turnaround time to be about two weeks. So, if you start today, you will have some sort of work in two weeks. Not a hard fast rule, but rule of thumb. Typically just when you start wondering if this monotonous canvassing is doing any good, the phone rings.
All businesses are service businesses. A customer calls with a problem, and you help then solve it. If you always remember that, you won't have issues, when you personally can't help them, referring them to even one of your competitors. They will return, because you helped them solve their problem.
When naming your business, particularly for one-man operations, you should name it something like Joe Smith's Pressure Washing. That way, the check gets written to you, you don't have to open up a special bank account, you don't have to file for a DBA and such. Check your local laws for license and insurance requirements, to be sure.
Down economies are a great opportunity to start businesses. As long as you treat your customers well and give them value for their money you will not only survive but thrive.
I currently own 2 successful businesses... and by successful, I mean paying the bills and making some profit.
One is steady and one is growing.
Anyway, I wanted to remind everyone how easy it is to launch a business. By easy, I of course mean simple. It's gonna take work.
1. Decide what skills you have to offer. In my case, I fix and setup computers and networks, but in my other business that just expanded, we took on doing handyman type work... which by the way, is a good business for the "fixers" out there -- many people are fixing up houses now that they are stuck with them for while. The preference would be something you're already equipped to do. Consulting is a huge business. If you have years of experience in a certain field, hire yourself out as an expert in that field. People will actually pay you to give them advice.
2. Decide what you're gonna charge. This is a bit tricky, well maybe not. Anytime I've started a business, I've called my would-be competitors and probed for what they charge. Get the high and low, and maybe ask around about who's service is best, etc. Basically do a few days of research to see what your industry is doing in your area.
If yard mowers are seeing a slow down in the area, you want to attract more customers. And offering a price in the low end of the range will bring you more volume of customers. You can always thin your base by raising prices later.
People are looking for deals, and if you offer one, you will get customers.
3. Marketing. I've tried many methods, but the most effective is face to face, owner to customer interaction. It doesn't have to be fancy or wordy. You want to talk directly to your potential customer. Both my businesses service other businesses, so I go right to businesses. My approach is as follows, and has far greater success than ANY paid marketing I've tried:
"Hi, my name is ------ with (name of company). I was just in this area doing some business and thought it appropriate to pass out some business cards. Please keep me in mind if you need (what you do) if not, please pass the card on. Thanks."
The goal is to take up no time in THEIR busy day. They will appreciate the pith. But be prepared, some people will ask you to stay and give prices, explanations, clarifications etc. Many times people that seemed the least interested will become your best customers.
-----------
That's it.
Now I put it in chronological order, but the most critical thing is #3, when starting a business. You should devote at least 2 hours every other day canvassing. If you talk to 30 people a day, you will get business. I find the turnaround time to be about two weeks. So, if you start today, you will have some sort of work in two weeks. Not a hard fast rule, but rule of thumb. Typically just when you start wondering if this monotonous canvassing is doing any good, the phone rings.
All businesses are service businesses. A customer calls with a problem, and you help then solve it. If you always remember that, you won't have issues, when you personally can't help them, referring them to even one of your competitors. They will return, because you helped them solve their problem.
When naming your business, particularly for one-man operations, you should name it something like Joe Smith's Pressure Washing. That way, the check gets written to you, you don't have to open up a special bank account, you don't have to file for a DBA and such. Check your local laws for license and insurance requirements, to be sure.
Down economies are a great opportunity to start businesses. As long as you treat your customers well and give them value for their money you will not only survive but thrive.