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-Do only what you believe in, and never ever lie. Get caught in a lie and you may get sued.
-Stick to your guns: if you say the price is X, don’t haggle very much. If you do, they may think you were ripping them off by charging too much on the first quote and decide not to go with you after all. People will respect you if you stick with what you say. Simply say “if I charged any less, I wouldn’t be able to provide you with high quality work.”
-If you can afford it, do something in a high-profile area for free (maybe even get someone else to donate the materials or pay for your labour). Example: Painting downtown historic locations = free press coverage and more business for only the price of missing a day’s work.
-Get everything in writing! So you both get what you expect. Delivering Refrigerators: I lost $1500 on verbal contract. Working for an Oil Company: I lost $2500 on verbal contract. Doing a paint job for a large Marina: I lost $3000 on failure to get contract signed.
Employees:
-Know The Rules Regarding Payment. You have to pay a certain wage or the Labour Board will crack down on you, and you won’t be able to run your own business again for at least a couple of years or forever.
-Only hire people you get along with, but don’t hire people just because you get along with them. I got along with Sean and Michael, but one time when I got to a house they were painting, there were cop cars all around. Turned out they had criminal records and were in rival gangs. Which brings me to my next point: Check References!
-Don’t be a hard-ass, but don’t be a pushover. Let them know you are in charge and that work can be a fun place, but that it must be productive.
-Reward your employees. If you want them to work hard, you have to give them an incentive to do so. Take them out for dinner once in a while, or buy the best worker each month something cool… like a $100 gift certificate.
Customers & Marketing:
-Don’t sell yourself short, and don’t oversell yourself! You have to know what you’re capable of, and be able to work at that capacity.
-The Customer IS Always Right. I re-painted the house, got a bonus and recommendation, and subsequently got more jobs!
-Face to Face Advertising Works Best. Talking to people is the best way to market to them. Door to door is hard but it works. People don’t like slamming doors in other people’s faces. Supper time is best to catch people at home, or just after. If you can’t sell very well, don’t be afraid to employ a salesperson! Use this tactic in the areas where you know they live thanks to your previous research on locations and demographics!
Summary: You must spend money to make money. Know your target. Know your competition. Provide value to customers and employees. Ask for the job!
With all of this hard stuff to remember, why should you try it? You get to make your own rules, and to an extent, your own hours. When someone thanks you for the chance to prove themselves. When you get a pat on the back for being able to do something yourself. When you get to experience the things that business textbooks talk about, which don’t make any sense when you read them, but become perfectly clear when you live them. When you get that fat paycheque and it’s all because of your hard work.
Good luck!
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Derek Martin
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Comments
An amazing brief for starting your business Jose Menacho Galiano | Jan 29th, 2003
Amazing brief of how to succes in a business... I include one recommendation If you live abroad "The First World" run your business by your local rules... You knows the market, the thoughts of your powerfull customers, and the advantages and disadvantages for run It in an undeveloped country.
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