I run a successful small company. You can dm me any questions you have.
Here's a few tips.
- The only thing that matters is customers. Not your product, not your ideas. How do you get customers? Once you have that figured out then everything else falls into place. The first question I ask any business or startup is: How do you get customers? Even for something like a grocery store or gas station this is still a valid question, because you'll get more customers with a better location. Most success stories are stories of nepotism or networking.
- On a related point there are many businesses that spend up to 60% of their income on advertising. You need to roll that into your prices. Biggest mistake new businesses make is charging too little.
- Similar to the last point everything is more expensive than you expect. Your concept of money needs to change. A wagie thinks $10,000 is lots of money. A businessman spends that without a second thought.
- When doing quotes and estimates do your best to think of how long something will take if things go well. Double it and that should be if things go wrong. Double it again and that's what it'll actually take.
- If you've never run a business before try to turn a hobby into a business. If you're a musician, try teaching music for money. Your first business will fail. Having it be something that's also a hobby can soften the blow.
- The way to avoid your first business failing is to know an industry inside and out. If you've been manager of a business for 10 years you'll probably be able to set up a competing business without trouble. You'll need to spend a few years working at a high level and thinking in terms of starting your own similar business for this to work. How long have you been in the trucking industry? How do they get their customers? What are the problems that send companies out of business? Can you somehow get an edge?
Forgotten memes said the truth in the first few sentences. I worked for an HVAC company and carrier corp came to my every job I had trouble on. It isn't the customers it's the guys who please the customers. I will never burn bridges with carrier because they wanted to make bullet proof products. The guys who work for you are the live and die. Customers are here today gone tomorrow. Get your guys happy and they will sell and sell. Great thread.
When doing quotes and estimates do your best to think of how long something will take if things go well. Double it and that should be if things go wrong. Double it again and that's what it'll actually take.
This sounds exactly like software engineering.
All I have working for me on the trucking side is I did it in the military, which I may be able to swing in my favor (Veteran owned business label.) I have minimum knowledge on how the civilian sector works but I do know some guys who are experienced and willing to join me.
Basically I have no experience with starting and running a company which is why I’m asking questions and am going to start very small at first. I’m good with people so hopefully that will transition to making business connections. I’m not afraid of failing and will do it again and again until I succeed at something.
There are a lot of job boards for on the internet that will hook you up with customers for a certain percentage of money but I imagine you can cut them out of the equation once you meet enough people through them.
I appreciate you taking the time to respond in depth, I will most definitely be DM’ing you in the future.
I do know some guys who are experienced and willing to join me.
That's good, but having some guys who are willing to be your customer is better. Job boards are usually not a good resource. Personal connections are better. Being veteran owned opens you up to gov contracts, but even then personal connections are necessary.
Look into management of potential customers and see who has veterans working there. Try to contact those people directly and see what you'd have to do for them to consider using you. That's where I'd start. I've heard there is a shortage of truck drivers, so now might actually be a great time to get into this business.
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