Starting your own business is not as easy as investing money and watch it as it grows. In a business, there are still requirements that needs to be attended and if completed there is still no assurance that you’ll succeed. But with the proper training of skills and leadership qualities, plus perseverance and faith, opportunities would be never ending. And if ever, you’d be successful just repeat the formula that you’ve used and expect your money growing.
So, if you already know what you’re going into and have decided to start a business, maybe you could now start to choose a business that suits you. For me, what I think best suits me is a trucking business. For almost 30 years, father has been a truck driver which helped us to finish college. Now, I want to return him the favor and ask his guidance on starting a successful trucking business in the Philippines.
With 30 years of experience, here are the things that he observed in the business:
Get the right equipment.
A truck is the heart and soul of your company. Purchasing trucks might be the most expensive decision you’ll ever have to face but acquiring the right trucks that suits your business would be the key to succeeding this business.
Buying the equipment is simply finding a financing company, paying a down payment and pay the rest from the loan. In buying the equipment, consider fuel efficiency, its size, and its daily maintenance.
Get the best customers.
There are limitless opportunities for trucking business because it is vital for business in specially for big online businesses. To get, customers participate on business bazaars, get a website and get it optimized or do the hardcore business approach, call businesses and ask if they need your services.
Know your expenses.
Before starting the business you should know the prices of the following: maintenance, truck repairs, fuel cost and labor.
Run the back office efficiently.
Develop the best process that would run smoothly on your back office. Ensure that the processes are well-thought and is efficient.
Avoid cash flow problems.
In a business, it is just normal to experience cash flow problems once in a while but when this time comes, be sure that you are ready for it.
Regular expenses like: fuel and repairs will eat through your revenues specially if your fleet is working double time and is growing in numbers. That’s why saving your earnings should be prioritized and should be only used for business operation purposes.
An article by: Safehouse Storage