Being pro-active in business
Discussion
I'm (rightly or wrongly) assuming that there are some successful business owners and managers etc here in varying industries and something unique between you all is that the success probably didn't knock at your door and invite itself in.
I run an electrical contractors with my dad (as well as a separate online retail business), been working for my dad for nearly 10 years starting as an apprentice electrician. The company is now managed by just me and him and he is slowly but surely taking a step back and leaving me to get on with it. The company has been around for 30 years and my dad has done very well from it, problem is the past 4-5 years with recession etc the company's been struggling, no one wants to pay on time and he has put in a lot of money when others probably would have called it quits and moved onto the next thing so we have a bit of catching up to do. We have survived, but that's about it.
This year we have binned off 7 of our staff as they were poison, changed our admin and accounts staff, updated the brand and started to specialise in certain areas of the industry. The transition is going well but work is coming in fairly slow and we're struggling to break into some of the areas we want to be in. We are still reliant on working for our existing customers and councils which is becoming too competitive with smaller companies going really cheap on pricing.
Heres the problem, whilst I'm definitely more businessman than tradesman, I'm still guilty of the traditional tradesman waiting for work to come to me stereotype and I need to learn how to break free from this hence asking here for advice. I don't know many other business people locally so haven't got many people to bounce ideas with. I have started following up with people I've done quotes for and talking to our clients in general more.
Just wondering if anyone could offer some advice on building confidence in business and how to go out and find work. I don't really want to walk in my dad's shadow all my life if you know what i mean!
I run an electrical contractors with my dad (as well as a separate online retail business), been working for my dad for nearly 10 years starting as an apprentice electrician. The company is now managed by just me and him and he is slowly but surely taking a step back and leaving me to get on with it. The company has been around for 30 years and my dad has done very well from it, problem is the past 4-5 years with recession etc the company's been struggling, no one wants to pay on time and he has put in a lot of money when others probably would have called it quits and moved onto the next thing so we have a bit of catching up to do. We have survived, but that's about it.
This year we have binned off 7 of our staff as they were poison, changed our admin and accounts staff, updated the brand and started to specialise in certain areas of the industry. The transition is going well but work is coming in fairly slow and we're struggling to break into some of the areas we want to be in. We are still reliant on working for our existing customers and councils which is becoming too competitive with smaller companies going really cheap on pricing.
Heres the problem, whilst I'm definitely more businessman than tradesman, I'm still guilty of the traditional tradesman waiting for work to come to me stereotype and I need to learn how to break free from this hence asking here for advice. I don't know many other business people locally so haven't got many people to bounce ideas with. I have started following up with people I've done quotes for and talking to our clients in general more.
Just wondering if anyone could offer some advice on building confidence in business and how to go out and find work. I don't really want to walk in my dad's shadow all my life if you know what i mean!
I can't help specifially but what you need is help with marketing and sales. The internet has changed everything; whilst your business model worked very well in the past, it means you can be overtaken by newbies who may be better at SEO or Facebook than you are. Nothing stands still.
The frustrating thing for you is that you know you have the ability but can't connect it to income. The engine is running but the wheels aren't going round.
For starters, you need to sit down in a lucid moment and decide the kind of work you want to get, then figure out how best to get it. Distil everything down into a few bullet points and work from there.
The frustrating thing for you is that you know you have the ability but can't connect it to income. The engine is running but the wheels aren't going round.
For starters, you need to sit down in a lucid moment and decide the kind of work you want to get, then figure out how best to get it. Distil everything down into a few bullet points and work from there.
Simpo Two said:
The frustrating thing for you is that you know you have the ability but can't connect it to income. The engine is running but the wheels aren't going round.
That pretty much sums up how I feel actually. I've felt this way for a while now, ironically since I sold my 350Z for a house deposit (and a boring Mazda 6 TS2!)I have spoken to distributors and sales rep asking what others are doing and it seems there are a few newish companies popping up doing similar things (one for instance door access control systems) and they are gaining their work from the internet and have built up companies worth far more than ours in a much shorter space of time. I think we've got a good website but we don't get a lot of traffic so I guess that's open for debate.
I think you're right in the sales & marketing. I do well with most of our clients, quotes are quick and we seem to win quite a good percentage of them, but there simply isn't enough quote requests coming in and certainly not enough in the more profitable sectors we want.
Some great advice already given. Family type businesses relying on word of mouth will not survive long. Marketing on all platforms, USP and reputation for quality are what you should be aiming for. This is no longer for the feint hearted and you have to be 110% convinced of your offering and then give it everything you have. Anything less and you will be overtaken by others.
A more bespoke response would require greater insight in to your current circumstances. Seeking the early help of an advisor might add some value in either confirming you no longer have a viable business model and thus will save you money and time by cutting your losses now or suggesting new ways to develop your business if it looks like it is recoverable.
Good luck!
A more bespoke response would require greater insight in to your current circumstances. Seeking the early help of an advisor might add some value in either confirming you no longer have a viable business model and thus will save you money and time by cutting your losses now or suggesting new ways to develop your business if it looks like it is recoverable.
Good luck!
Some very good advice here already.
I would say that, by recognising that you're a businessman not an electrician, you have about 70% cracked it. Things that have worked for me (and my partners) have been always being really clear on the vision for the business, always seeking to understand the client and their challenges and to be ruthlessly clear on our services that will meet both. This allows you to be really focused on what markets you are in (and out of) and to focus all your time and effort on those without being distracted by any enquiry that walks through the door.
On commercials, always remember that an important client who doesn't pay on time is a contradiction in terms - bin them off. Also, be absolutely clear on how your commercials build up so that you can tell at a glance whether a tender is going to make you money; if it won't, don't buy it - always remember the golden rule that you only have so much cash-flow to allocate to current work; why fritter it away on work that isn't profitable? Also, consider whether alternative pricing models might be appropriate with certain clients.
Also, look at your people. Do they understand the new brand, are they helping to promote the business, have you got an incentive scheme in place that rewards them if they bring in new work/get a client to pay early/come up with a better/cheaper way of doing a particular work process/negotiate a better deal with a supplier etc?
I would say that, by recognising that you're a businessman not an electrician, you have about 70% cracked it. Things that have worked for me (and my partners) have been always being really clear on the vision for the business, always seeking to understand the client and their challenges and to be ruthlessly clear on our services that will meet both. This allows you to be really focused on what markets you are in (and out of) and to focus all your time and effort on those without being distracted by any enquiry that walks through the door.
On commercials, always remember that an important client who doesn't pay on time is a contradiction in terms - bin them off. Also, be absolutely clear on how your commercials build up so that you can tell at a glance whether a tender is going to make you money; if it won't, don't buy it - always remember the golden rule that you only have so much cash-flow to allocate to current work; why fritter it away on work that isn't profitable? Also, consider whether alternative pricing models might be appropriate with certain clients.
Also, look at your people. Do they understand the new brand, are they helping to promote the business, have you got an incentive scheme in place that rewards them if they bring in new work/get a client to pay early/come up with a better/cheaper way of doing a particular work process/negotiate a better deal with a supplier etc?
MrSparks said:
I'm (rightly or wrongly) assuming that there are some successful business owners and managers etc here in varying industries and something unique between you all is that the success probably didn't knock at your door and invite itself in.
I run an electrical contractors with my dad (as well as a separate online retail business), been working for my dad for nearly 10 years starting as an apprentice electrician. The company is now managed by just me and him and he is slowly but surely taking a step back and leaving me to get on with it. The company has been around for 30 years and my dad has done very well from it, problem is the past 4-5 years with recession etc the company's been struggling, no one wants to pay on time and he has put in a lot of money when others probably would have called it quits and moved onto the next thing so we have a bit of catching up to do. We have survived, but that's about it.
This year we have binned off 7 of our staff as they were poison, changed our admin and accounts staff, updated the brand and started to specialise in certain areas of the industry. The transition is going well but work is coming in fairly slow and we're struggling to break into some of the areas we want to be in. We are still reliant on working for our existing customers and councils which is becoming too competitive with smaller companies going really cheap on pricing.
Heres the problem, whilst I'm definitely more businessman than tradesman, I'm still guilty of the traditional tradesman waiting for work to come to me stereotype and I need to learn how to break free from this hence asking here for advice. I don't know many other business people locally so haven't got many people to bounce ideas with. I have started following up with people I've done quotes for and talking to our clients in general more.
Just wondering if anyone could offer some advice on building confidence in business and how to go out and find work. I don't really want to walk in my dad's shadow all my life if you know what i mean!
Have you considered visiting your nearest BNI group?I run an electrical contractors with my dad (as well as a separate online retail business), been working for my dad for nearly 10 years starting as an apprentice electrician. The company is now managed by just me and him and he is slowly but surely taking a step back and leaving me to get on with it. The company has been around for 30 years and my dad has done very well from it, problem is the past 4-5 years with recession etc the company's been struggling, no one wants to pay on time and he has put in a lot of money when others probably would have called it quits and moved onto the next thing so we have a bit of catching up to do. We have survived, but that's about it.
This year we have binned off 7 of our staff as they were poison, changed our admin and accounts staff, updated the brand and started to specialise in certain areas of the industry. The transition is going well but work is coming in fairly slow and we're struggling to break into some of the areas we want to be in. We are still reliant on working for our existing customers and councils which is becoming too competitive with smaller companies going really cheap on pricing.
Heres the problem, whilst I'm definitely more businessman than tradesman, I'm still guilty of the traditional tradesman waiting for work to come to me stereotype and I need to learn how to break free from this hence asking here for advice. I don't know many other business people locally so haven't got many people to bounce ideas with. I have started following up with people I've done quotes for and talking to our clients in general more.
Just wondering if anyone could offer some advice on building confidence in business and how to go out and find work. I don't really want to walk in my dad's shadow all my life if you know what i mean!
Some good advice here already. If you think your online efforts need sharpening up had you thought about hiring a young intern for the summer? There are loads of smart digital media savvy 2nd year uni students looking for holiday money jobs could bring some new ideas and techniques into the business. One of my kids set up an online presence for a local farmer. He was really thrilled with the results.
Thanks for the replies so far, knew I'd get some helpful advice here! I do sometimes worry if the company is too far behind to catch up, I think ultimately that's played a big part in the downfall. Up until recently poor website, no social media, no SEO or adwords, inconsistent branding and the MD (which he'll happily admit as a fault) tried to semi-retire too early (although this was partly due to an injury that took him out for 8 months) without the right management in place, he put his trust in the wrong place unfortunately. Those past managers are now gone and he's back full time and things are turning a bit. He is a bit of a nightmare though, he'll price anything for anyone, no job is too small no matter what the industry. He often goes off on a tangent thinking he can make a profitable shop instead of our office etc. etc. I'll often challenge him but get told I'm negative, despite the fact he used to have a shop before and it didn't work out in our location.
I've found this past 6 months that I just have to do things and force it, hence the brand update, vans have started being wrapped (first update since the company incorporated in 1984!!!) new site etc. It's all me. He hasn't really put up a fight if I'm honest but I know he is/was getting tired of the whole business before these changes. I would like to get to the point where we are turning down the less profitable low-end domestic work and concentrating on commercial (electrical, converged IP solutions, LED lighting) and high end residential (electrical, structured wiring, home automation, lighting control and entertainment) I have already started branding this way but have not made my intentions clear to him just yet as he'll not be impressed at the thought of "turning down work". I've learnt from my e-commerce business about targeting niches and being best at that niche, which can ultimately lead to more sales than targeting too wide of a market.
I'm convinced that internet is the way forward, we currently, for a company turning approx 1.4m p.a (yet making no profit for past 4-5 years, until this year), only spend £1000 a year on advertising and that's yell.com, and this says it all I think!! However until he sees results from something he's reluctant to invest money that we admittedly have little of. I spend (almost) that a month on my retail business and I haven't even hit a 6 figure turnover yet!! He is still of the Yellow Pages mentality.
I like the idea of a marketing intern for the summer, does anyone know how I go about finding one?
To answer the question about trusting our staff etc.... well I'll be honest I have my doubts about them, we only have 4 on the cards staff left now as we binned off all the piss-takers. They are a lot better and a lot more trust worthy than the past staff, but they are far from the perfect bunch. They do however get jobs done on time and to a very good standard, they just take a fair bit of mummy-ing to get there at times. We also regularly use a few subbies who are much better. We can definitely move forward with them, but they aren't the A team!
I've found this past 6 months that I just have to do things and force it, hence the brand update, vans have started being wrapped (first update since the company incorporated in 1984!!!) new site etc. It's all me. He hasn't really put up a fight if I'm honest but I know he is/was getting tired of the whole business before these changes. I would like to get to the point where we are turning down the less profitable low-end domestic work and concentrating on commercial (electrical, converged IP solutions, LED lighting) and high end residential (electrical, structured wiring, home automation, lighting control and entertainment) I have already started branding this way but have not made my intentions clear to him just yet as he'll not be impressed at the thought of "turning down work". I've learnt from my e-commerce business about targeting niches and being best at that niche, which can ultimately lead to more sales than targeting too wide of a market.
I'm convinced that internet is the way forward, we currently, for a company turning approx 1.4m p.a (yet making no profit for past 4-5 years, until this year), only spend £1000 a year on advertising and that's yell.com, and this says it all I think!! However until he sees results from something he's reluctant to invest money that we admittedly have little of. I spend (almost) that a month on my retail business and I haven't even hit a 6 figure turnover yet!! He is still of the Yellow Pages mentality.
I like the idea of a marketing intern for the summer, does anyone know how I go about finding one?
To answer the question about trusting our staff etc.... well I'll be honest I have my doubts about them, we only have 4 on the cards staff left now as we binned off all the piss-takers. They are a lot better and a lot more trust worthy than the past staff, but they are far from the perfect bunch. They do however get jobs done on time and to a very good standard, they just take a fair bit of mummy-ing to get there at times. We also regularly use a few subbies who are much better. We can definitely move forward with them, but they aren't the A team!
Edited by MrSparks on Monday 21st April 10:21
As for finding an intern I'd approach local university careers advisory departments and ask how you go about advertising a vacancy. Not knowing where you are located I cannot advise specifically. My previous business was in central London and we had some arrangement whereby we got American exchange students for a couple of months for free. Personally I would not advocate this, ie free labour, as I think it's immoral. However it's quite fair to offer an internship at minimum wage. For a while we just paid a flat rate of £25 per day to cover travel and lunch. I felt more comfortable with minimum wage though.
An alternative is to put an ad in the local paper only because if the prospective interns don't see it their parents certainly will!
If you wanted to try go further up market some business schools take on consultancy projects and put MBA students on the case. You would have to pay a fee for this but they can be good value. Years ago I got two London Business School MBAs on a 6 week project. These were seriously bright guys and did an excellent job.
Another alternative is Growth Accelerator
http://www.growthaccelerator.com/
The first important step, which you are taking, is starting the process of defining the problem. So it may seen "cart before horse" suggesting the intern idea but just having some fresh ideas, albeit mostly tactical quick fixes, is goodness in itself.
An alternative is to put an ad in the local paper only because if the prospective interns don't see it their parents certainly will!
If you wanted to try go further up market some business schools take on consultancy projects and put MBA students on the case. You would have to pay a fee for this but they can be good value. Years ago I got two London Business School MBAs on a 6 week project. These were seriously bright guys and did an excellent job.
Another alternative is Growth Accelerator
http://www.growthaccelerator.com/
The first important step, which you are taking, is starting the process of defining the problem. So it may seen "cart before horse" suggesting the intern idea but just having some fresh ideas, albeit mostly tactical quick fixes, is goodness in itself.
Well, I am going to go against the tide here and its a long one, sorry, but I hope it is of use.
Firstly, I think a couple of questions to ask yourself.
Where does your current work come from?
What do they do and need?
Who knows you and your team and how can you leverage that?
Why do you need a website & what is the point of it?
I have a website and I do a little twitter / facebook stuff, yes, but it is a brochure / front end, not a first point of contact. There are others far bigger and better than me and more importantly those that LOOK bigger and better than me when I know for a fact they are not, all who have far glossier front ends to entice (sucker?) people in.
There are those who will sell and push SEO and Websites and Electronic Marketing and it has its place but it is not the holy grail and answer to everything. Think differently, treat everything you do as marketing, You and your team are your best marketing and selling tool, no arguments, no discussion. Everything you end out should have your details on it, the number of business emails I get that DONT have use their signature space is amazing!
This is how I work and I have almost to much work to do for the next year! A great position to be in, but it is through hard work, balls to get out there and meet & greet, press the flesh etc.
I do, I look after those in the companies I work with and as they move on they take your details with you, then automatically your into two places. This happened with a conceirge manager and now we are in with two top London apartment blocks. We keep getting called in, fixing problems (some of which have been 7 years old), getting paid and generating a good name for ourselves throughout the developments.
Physically, Go and see your companies and clients, talk to them, find out more about them and what you could do differently and what extra you could do for them. It is easier to grow a small client into a big one than find another small one, but very few of us actually do that.
Google them, personally and professionally (I do with all my clients) it gives you something to talk about and build that personal relationship.
Try never to piss any client off, even if you disagree, spend a little time with other trades, if they are interested, ask a question or need help, help them, you never know where it will lead. One plaster I helped out (gave him a few cheap hdmi leads from memory, pennies to me) recommended me in on a development of 7 luxury homes, I didn't get the initial work (about £40k) but I supported the site manager and got called in when it all went wrong. To date I have had over £100k from the site (developer and residents) with more work from the same developer else where. I don't even remember talking to the plaster or his name!
Try to educate rather than sell, this builds a level of trust with a client that selling will never do, spend time explaining what, how and why, certainly with Home Tech stuff don't do a techie sell, you loose people very quickly.
Finally (phew you all say) if there is a new development happening near you, visit the site, chat to the site manager etc. I always try to do this and last month I got a sniff at an access control system for an apartment block that they are piling for at the moment. Off that I will also talk tv distribution and home automation. If you don't get in, shrug shoulder and move on, don't get hung up on loosing, get excited about winning.
Really hope that helps.
V.
Firstly, I think a couple of questions to ask yourself.
Where does your current work come from?
What do they do and need?
Who knows you and your team and how can you leverage that?
Why do you need a website & what is the point of it?
I have a website and I do a little twitter / facebook stuff, yes, but it is a brochure / front end, not a first point of contact. There are others far bigger and better than me and more importantly those that LOOK bigger and better than me when I know for a fact they are not, all who have far glossier front ends to entice (sucker?) people in.
There are those who will sell and push SEO and Websites and Electronic Marketing and it has its place but it is not the holy grail and answer to everything. Think differently, treat everything you do as marketing, You and your team are your best marketing and selling tool, no arguments, no discussion. Everything you end out should have your details on it, the number of business emails I get that DONT have use their signature space is amazing!
This is how I work and I have almost to much work to do for the next year! A great position to be in, but it is through hard work, balls to get out there and meet & greet, press the flesh etc.
I do, I look after those in the companies I work with and as they move on they take your details with you, then automatically your into two places. This happened with a conceirge manager and now we are in with two top London apartment blocks. We keep getting called in, fixing problems (some of which have been 7 years old), getting paid and generating a good name for ourselves throughout the developments.
Physically, Go and see your companies and clients, talk to them, find out more about them and what you could do differently and what extra you could do for them. It is easier to grow a small client into a big one than find another small one, but very few of us actually do that.
Google them, personally and professionally (I do with all my clients) it gives you something to talk about and build that personal relationship.
Try never to piss any client off, even if you disagree, spend a little time with other trades, if they are interested, ask a question or need help, help them, you never know where it will lead. One plaster I helped out (gave him a few cheap hdmi leads from memory, pennies to me) recommended me in on a development of 7 luxury homes, I didn't get the initial work (about £40k) but I supported the site manager and got called in when it all went wrong. To date I have had over £100k from the site (developer and residents) with more work from the same developer else where. I don't even remember talking to the plaster or his name!
Try to educate rather than sell, this builds a level of trust with a client that selling will never do, spend time explaining what, how and why, certainly with Home Tech stuff don't do a techie sell, you loose people very quickly.
Finally (phew you all say) if there is a new development happening near you, visit the site, chat to the site manager etc. I always try to do this and last month I got a sniff at an access control system for an apartment block that they are piling for at the moment. Off that I will also talk tv distribution and home automation. If you don't get in, shrug shoulder and move on, don't get hung up on loosing, get excited about winning.
Really hope that helps.
V.
VEX said:
Also, GET YOUR WEB ADDRESS ON YOUR PROFILE ON HERE.
Great mistake, lots of interested and HNW client prospects on here who want to share with other PH Friend.
V.
I'll add it in a bit then, but I really didn't want people to think I'm advertising or spamming as I've had this on forums before when asking advice. I'm here first and foremost because I'm obsessed with cars, previously had a Nissan 350Z and am working my way to a V10 R8. My dad has some nice motors also (albeit not supercars, he's not interested!) then I thought of asking for advice as if you can afford a super car you probably have a successful business of some kind. But if it's okay I'll add it in, may make it easier to offer advice if you know exactly what we do. Although I am quite pleased with the level of advice given so far. Certainly given me a few things to think about.Great mistake, lots of interested and HNW client prospects on here who want to share with other PH Friend.
V.
Vex,
Thanks for your detailed reply, seems you're in the same industry as some of our services so that you for replying.
We have a lot of clients so I get what you're saying, we do look after them fairly well most of the time but this could be improved massively which as you say could lead to much more referral work. We don't seem to be getting as much referral work as usual, maybe that's because clients know we've changed so much lately and maybe they see it as us struggling? We do a lot of work for other trades, and we try to find or recommend them to our clients when they need a service they offer which seems to go down well.
I think I will try to get around a bit more, visit my staff on site, check the clients happy, fix any problems/issues/extras there and then to try and improve our reputation further.
I also agree on the web thing especially for the home entertainment market, we rank top 3 for certain searches yet hardly any visits or enquiries, so either no one searches for this type of service or we're ranking for the wrong words.
To be honest it's the electrical, energy saving, LED lighting, structured wiring and converged IP where we would want to focus, we do a lot of commercial lighting control and some residential so we're more on the electrical side, just so happens I know a lot about multi room audio and video and home control so we try to upsell these as we can offer a complete package. We've got genuinely happy customers in this field but it hasn't generated any further work for some reason, largely because our customer base is in the wrong demographic.
Previously i've tried to advertise the top product in each of our services, i.e Elan G! home control systems, but not many people know they want this so they ignore it, I'm going to start taking the tact of selling structured wiring for internet, tv and security etc and lighting control then up-sell from there. And upsell Led lighting to standard office refurbs and addition of lighting control such as absence detection etc.
Thanks for your detailed reply, seems you're in the same industry as some of our services so that you for replying.
We have a lot of clients so I get what you're saying, we do look after them fairly well most of the time but this could be improved massively which as you say could lead to much more referral work. We don't seem to be getting as much referral work as usual, maybe that's because clients know we've changed so much lately and maybe they see it as us struggling? We do a lot of work for other trades, and we try to find or recommend them to our clients when they need a service they offer which seems to go down well.
I think I will try to get around a bit more, visit my staff on site, check the clients happy, fix any problems/issues/extras there and then to try and improve our reputation further.
I also agree on the web thing especially for the home entertainment market, we rank top 3 for certain searches yet hardly any visits or enquiries, so either no one searches for this type of service or we're ranking for the wrong words.
To be honest it's the electrical, energy saving, LED lighting, structured wiring and converged IP where we would want to focus, we do a lot of commercial lighting control and some residential so we're more on the electrical side, just so happens I know a lot about multi room audio and video and home control so we try to upsell these as we can offer a complete package. We've got genuinely happy customers in this field but it hasn't generated any further work for some reason, largely because our customer base is in the wrong demographic.
Previously i've tried to advertise the top product in each of our services, i.e Elan G! home control systems, but not many people know they want this so they ignore it, I'm going to start taking the tact of selling structured wiring for internet, tv and security etc and lighting control then up-sell from there. And upsell Led lighting to standard office refurbs and addition of lighting control such as absence detection etc.
Do it.
You raise a good point about the difference between helping and advising and selling and touting.
I give a lot of advice here and on other forums, but it is just that, advice. People like it, start talking and then start recommending you on here. It is marketing, yes, but very subtle and only those that are genuinely interested come knocking.
Look at Eric MC on here, a great accountant, always willing to give advice and I am sure he often gets new clients out of it.
V.
You raise a good point about the difference between helping and advising and selling and touting.
I give a lot of advice here and on other forums, but it is just that, advice. People like it, start talking and then start recommending you on here. It is marketing, yes, but very subtle and only those that are genuinely interested come knocking.
Look at Eric MC on here, a great accountant, always willing to give advice and I am sure he often gets new clients out of it.
V.
MrSparks said:
I'm going to start taking the tact of selling structured wiring for internet, tv and security etc and lighting control then up-sell from there. And upsell Led lighting to standard office refurbs and addition of lighting control such as absence detection etc.
That the way I do it, start at the bottom and sell up. Not the top and sell down.Take time to sell the basics and the higher end stuff will follow, because people understand the basic start point. My specific story is 'get the cabling right first, then add the wizzy stuff when you want to or can afford to'
Where abouts are you based?
V.
VEX said:
That the way I do it, start at the bottom and sell up. Not the top and sell down.
Take time to sell the basics and the higher end stuff will follow, because people understand the basic start point. My specific story is 'get the cabling right first, then add the wizzy stuff when you want to or can afford to'
Where abouts are you based?
V.
It's all about the cabling, residential, commercial, high end or low end, I've lost track of how many times I've told people "whether you use me or you don't use me, make sure you get the right cables to the right place" but until recently I've never tried to sell the wiring before the fancy systems!!Take time to sell the basics and the higher end stuff will follow, because people understand the basic start point. My specific story is 'get the cabling right first, then add the wizzy stuff when you want to or can afford to'
Where abouts are you based?
V.
I'm down in Portsmouth, we cover Hampshire and often work further afield but tend to ignore London (yes I know it's the biggest market for the A/V and converged IP services, but also most competitive) most of our work is Hampshire council and direct for builders/main contractors/other trades. The high end residential that we have done is via one of our regular main contractors, but it's very few and far between.
ChasW said:
As for finding an intern I'd approach local university careers advisory departments and ask how you go about advertising a vacancy. Not knowing where you are located I cannot advise specifically. My previous business was in central London and we had some arrangement whereby we got American exchange students for a couple of months for free. Personally I would not advocate this, ie free labour, as I think it's immoral. However it's quite fair to offer an internship at minimum wage. For a while we just paid a flat rate of £25 per day to cover travel and lunch. I felt more comfortable with minimum wage though.
An alternative is to put an ad in the local paper only because if the prospective interns don't see it their parents certainly will!
Do not do this! Your business needs someone skilled and experienced, who knows what they are doing. You will get what you pay (or don't) for with interns/students. Such people will know the basics/theory but there's a huge gap before they understand how to apply it in the real world . It takes years to learn and learning comes often from mistakes made. And these may well be made with your money! Talk to a marketing company which has the resources to do this properly for you. An alternative is to put an ad in the local paper only because if the prospective interns don't see it their parents certainly will!
You (and all businesses really) should have a marketing programme which generates leads for you consistently. Yes, the web has changed marketing but you can catch up if you do things as well as the companies you are competing against. It's amazing how few people in business recognise the need for a marketing plan/programme. In most markets you'll find that the leaders are the ones which spend the most on their marketing.
Electrical contracting and retailing is an odd combination. The retail side must be frightening with players like YESSS coming in and a lot more awareness amongst mainstream retailers on specialist stuff like access control systems.
Do you know which side of the business makes more money? Just follow where the existing revenue is coming from. I suspect the contracting side of it should be picking up and for a medium sized business in this sector I would say thats where you want to be concentrating. Unless you are highly specialised electrical retail has to be a dead horse surely?
Do you know which side of the business makes more money? Just follow where the existing revenue is coming from. I suspect the contracting side of it should be picking up and for a medium sized business in this sector I would say thats where you want to be concentrating. Unless you are highly specialised electrical retail has to be a dead horse surely?
fridaypassion said:
Electrical contracting and retailing is an odd combination. The retail side must be frightening with players like YESSS coming in and a lot more awareness amongst mainstream retailers on specialist stuff like access control systems.
Do you know which side of the business makes more money? Just follow where the existing revenue is coming from. I suspect the contracting side of it should be picking up and for a medium sized business in this sector I would say thats where you want to be concentrating. Unless you are highly specialised electrical retail has to be a dead horse surely?
Sorry to confuse but the two businesses are completely seperate, I have a niche online store with no links to the contracting company, it's a mostly automated sideline which does okay for what it is, obviously I would love to continually increase sales but essentially its just a bit of extra money for an hour a week of work and little effort (now that it's set up and established!). It's gaining momentum in an upcoming market and I would intend to sell it to a competitor in the future when it's worth enough. (that's the dream anyway!)Do you know which side of the business makes more money? Just follow where the existing revenue is coming from. I suspect the contracting side of it should be picking up and for a medium sized business in this sector I would say thats where you want to be concentrating. Unless you are highly specialised electrical retail has to be a dead horse surely?
Back in the day my dad had a shop selling electrical bits and bobs, fans and other assorted 'junk'. it didn't do all that well and started costing more to staff it than it made so he closed it and it's now our offices (and half of it is rented to another shop). He has been talking about a shop again for some reason, but I can't see any feasible route to this. I tend to humour him and bat it off and concentrate on the core business.
Some good advice on here. I'm in a similar situation with my old man and have just taken over from him although it's a different industry entirely. I've also just completed a 'Business Growth and Profit' course run by Cranfield University which was extremely useful, might be worth checking out as you can bounce idea's off your peers and they really focus on your key aims. My 10p's worth:
1) Define what your business does and WHY. Is that clear to your customers? Is that what they want?
2) How are you competing against your competitors - price, service, brand? What differentiates you?
3) Set goals and focus on them. Don't get distracted and chase butterfly's.
4) Squeeze more juice from the lemon. Can you get more from your existing customers? Will your existing customers recommend you?
5) Concentrate on a vertical market. Specialise in a sector, own it and be known.
6) Marketing - analyse everything. For every £ you spend, how many leads, quotes and sales did it bring in? Move marketing money around, don't let it get stale.
7) Social media - great for branding and getting a reputation, harder to turn into leads. However I believe businesses that embrace it now will be better situated in 3 years time. Providing content is key - how to videos, guides, thoughts, opinions, expert views etc on your market. Tie this back into your website to improve SEO rankings.
Hope that helps and good luck!
1) Define what your business does and WHY. Is that clear to your customers? Is that what they want?
2) How are you competing against your competitors - price, service, brand? What differentiates you?
3) Set goals and focus on them. Don't get distracted and chase butterfly's.
4) Squeeze more juice from the lemon. Can you get more from your existing customers? Will your existing customers recommend you?
5) Concentrate on a vertical market. Specialise in a sector, own it and be known.
6) Marketing - analyse everything. For every £ you spend, how many leads, quotes and sales did it bring in? Move marketing money around, don't let it get stale.
7) Social media - great for branding and getting a reputation, harder to turn into leads. However I believe businesses that embrace it now will be better situated in 3 years time. Providing content is key - how to videos, guides, thoughts, opinions, expert views etc on your market. Tie this back into your website to improve SEO rankings.
Hope that helps and good luck!
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