Could you improve the way your plumbing or electrician business is run? Trick question. All businesses, from one-person ventures to huge corporations can always find areas to improve if they are thorough enough. Whether you manage your own finances and taxes to cut costs, you haven’t done thorough research on your client base, or you don’t factor in time off to recuperate in your busy day to day, why not choose this spring to improve your business? Vivax Metrotech AUS has some suggestions to how you could improve cashflow, get to know your clients better, and truly get to enjoy the luxury of being self-managed.
Being a business owner – the good, the bad, the ugly
One of the most common responses to what is most frustrating about their current job is the management and disagreeing with the way businesses are run. That’s why starting one’s own business can be (and often is) such a rewarding and fruitful decision. But it does not come without its own hiccups, as managing one’s own business requires a lot of planning, self-discipline, foresight, and grit. In fact, many self-employed people, and those starting up new businesses report far longer working weeks and lower pay than if they had been employed by someone else. So, making sure you frequently assess the health of your business and action changes to improve it is key for long-term success.
Assessing where you are versus where you want to be
Do you have a solid business plan in place? Are your finances up to scratch? It can be easy to adopt a get-by mentality when starting up a new tradie business but beware that you don’t adopt it as your new norm for the long haul. Remember why you wanted to start your business to begin with? More income, and more free time perhaps? Are you enjoying these perks currently, and if not, how can you get there? Seeking the help of a business advisor, accountant or someone else who can help you gain more insight into the health of your business can be an invaluable investment.
Know your clients
Do you know who your most likely and most lucrative clients are? Doing thorough market research to know who you should target and how it should be done is key to finding customers and ensuring they choose you over your competition.
Invest in growth
Tradies looking to scale their business are increasingly investing in cutting edge CCTV inspection systems to be able to offer quick and effective inspections of potentially busted pipes, or to find underground wires without expensive and time-consuming excavations. Is there other equipment that could help your business grow?
Give your website a spruce
Gone are the days when tradies could thrive off word-of-mouth and yellow pages business alone. A good-looking, maintained, and responsive website is key to get customers to not only learn about your business, but also decided that you are the right business for their specific problem.
Use this spring to improve facets of your business that are giving you stress, grief, or are standing in the way of growth. Don’t feel like you have to do it all at once, after all, even the greatest achievements start with one small step.