Strategy is an important aspect for any business, including Tradies. Knowing where you are coming from, where you want to be by a certain time and how to get there separates successful and failed businesses.
You might have just started your trade business or have been in business for a while now, but one of the things that any business owner looks for is profit. Profit is why most people start their own businesses because it comes with early retirement or peace of mind knowing your income is secure.
In the first part of the Break-even series, we discussed what the break-even point is, how to calculate it and the 3 important elements you need to employ to achieve that position. As a quick recap, new businesses might not generate expected income in the short term but can make enough revenue which puts them in a position of not making a loss but not making a profit either. At this point the business can still survive, however, the most preferable outcome is that of making a profit as soon as possible.
Making the decision to start your own business is a bold move that involves risk but can also come with greater rewards. As a potential entrepreneur you need to conduct your market research in order to estimate the size of the potential market, competition and potential sales, as these are some of the factors that will determine your business’ success.
We get so many clients who struggle to keep track of all of their important financial documents; some are on their work computer, others on the home computer, some on a hard drive somewhere. So when it comes to preparing documentation for financial appointments, there is always a panicked rush to get everything together in one place. We find ourselves telling clients over and over about the many virtues of cloud storage.
Job scheduling is a key process in any trade business, and efficiency in this area has a significant impact on profitability. However, managing the scheduling of a team of employees can quickly become like a game of chess; complicated in strategy, and quickly affected by accidental oversights. To help you make your way successfully through this game, we have come up with six simple job scheduling tips. If you are short on time, simply skip to step 6 because some of the mobile applications listed there will quickly set you on the path to successful scheduling.