Mastering Your Business For Maximum Profit & Success Events In Vancouver Toronto & Calgary.
The lifeblood of any business enterprise is cash flow. You need it to buy inventory, pay for services, promote and market your business, repair and replace tools and equipment, and pay yourself so that you can continue to work. Therefore, all home business owners must become wise money managers to ensure that the cash keeps flowing and the bills get paid. There are two aspects to wise money management.
You need to build your business the right way for the right reasons. If it is just for the money then you will only have a business short term.
New companies are hungry for cash, so anything you are making will go straight back into the business. And often the founder, who is working 120 hours a week, is the last person to see any returns for a long time from their hard yards.
Yet these are the businesses that succeed, and in the long run are the ones that are truly successful. By contrast, firms that are stripped of their cash to “fund” the lifestyle of their owners are very short-lived.
Building a business on passion and hard work, and surrounding yourself with great people, is the recipe for success.
He’s doing okay, but — like many business owners — he could always do better. He wants to do better… But he needs to fix his systems.
For example, he services bicycles for his customers. The services aren’t scheduled — usually people will just call him when they want it fixed or just checked to see if it’s ready for the season.
He does have a “system” for keeping track of repairs, parts used, and other details, for a particular customer’s bike. It started life as a spreadsheet, then he put together some software.
But his software doesn’t do what he needs it to, and it’s not optimal. So he asked me if I could come up with something better.
I could, of course. This is what I do.
In fact, with my background as a pretty successful business owner, I could come up with a lot of ideas he should incorporate into this business-wide system not only to make bicycle repairs easier to keep track of, but also benefit other areas of his business.
Just off the top of my head, here’s what I suggested:
These are just a few of the things he could do with a fully integrated back-office system. It could save him a fortune in time and money… but I hope you can see how it could also make him a lot more money in regular services, increased likelihood of people servicing their equipment in the first place, and increased sales from more frequent and relevant promotions.
It’s a sound investment, because I estimate that he could make his money back within three months. After that, it’s all profit. Because this isn’t just a software solution for my clients. It’s a business solution. It solves business problems.