Re: Advice on new business
Hit the customers you had dealings with first, were you commercial or industrial? Get meetings with these asap, if you phone them just ask to meet, try not to discuss on the phone, has the old company reopened?
pm me if you need any local help.
al
Re: Advice on new business
Hi dcool
Keep your overheads as low as possible like if buying a vehicle get a 2dn hand one. Save some money for the Winter or the quiet season. Use an accountant from the start (the accountant takes a lot of worry off the mind), he/she can also help chase up those unpaid bills and sort your terms and conditions for payment.
It's all about survival - go and steel all the old customers - that's business. Build networking relations with other small companies simmilar to yours then when one of you needs hollidays the other can fill in. Try not to do any cash jobs instead focus on building the business. When setting up accounts at suppliers try to find out the discount structure/prices and try to get better than the competition. Try not to do everything yourself get help when needed. I started a company in 1998 then went back to the tools a few years later. I got made redundant a month ago so I am getting a rocks n crystals business going and a big part of any business in this age is a web site.
Best of Luck.
Re: Advice on new business
Be a good idea to have all the necessary paper work sorted first so you can jump into your first job fully covered. In Aus, we need: Public liability insurance, Business registration, complete a business management course, satisfy the Building services Authority and obtain a BSA card. Register with "Workers compensation" so anyone you might employ is covered. The list goes on..
Knowing your job (here) is only 1/2 of what is really necessary to run a refrigeration business.
Setting up accounts with creditors
Business cards
Advertising
A good accountant
and money in the bank.
Re: Advice on new business
Quote:
Originally Posted by
Tesla
Hi dcool
Keep your overheads as low as possible like if buying a vehicle get a 2dn hand one. Save some money for the Winter or the quiet season. Use an accountant from the start (the accountant takes a lot of worry off the mind), he/she can also help chase up those unpaid bills and sort your terms and conditions for payment.
It's all about survival - go and steel all the old customers - that's business. Build networking relations with other small companies simmilar to yours then when one of you needs hollidays the other can fill in. Try not to do any cash jobs instead focus on building the business. When setting up accounts at suppliers try to find out the discount structure/prices and try to get better than the competition. Try not to do everything yourself get help when needed. I started a company in 1998 then went back to the tools a few years later. I got made redundant a month ago so I am getting a rocks n crystals business going and a big part of any business in this age is a web site.
Best of Luck.
+1 to everything that Tesla said. Expect to be quiet at the start but don't sit on your hands. Fill your time everyday going out stoking up business. Keep your living expenses as low as possible and don't buy any unnesscessary tools. If you have to undercut your old businesses rate by a bit do it for the start and you can creep it up gradually once you've impressed them. Cashflow will kill you quicker than anything else so 30 day credit should be avoided if possible. Offer a discount for prompt payment. If you find bad payers, drop them or insist on cash. They're of no use to you, merely millstones around your neck and you'll be kicking like hell as it stands.
