November 17, 2016

Lately I’ve had the opportunity to connect with some amazing individuals that are on the cusp of something great. The challenge is how to build you business while on a budget. It’s funny what a taboo word that is, in fact many times our new clients don’t even want to bring it up. Money is an awkward conversation, and I get that.

But what’s more awkward is having the feeling that you’re not meeting the client’s needs or causing them stress, because the conversation around budget hasn’t been honestly had. You’d be surprised, in our conversations, the brainstorming sessions that occur, all around concepts the client can do themselves, with little or no expense. Right off the top, there are numerous community organizations that are looking for guest speakers to offer workshops, they manage all of the promotion, can fill seats, and while it may not be a big revenue stream, it can be a source for testimonials and referrals. Sometimes you don’t know until you ask!

So how do you grow your business, on a budget. Here are our top 5 tips:

  1. Understand what your time is worth – and use it wisely. If you know an hour of your time can be billed for $100 and hour, and you just spent an hour on Facebook checking out what your friends have been up to – then that hour on Facebook just cost you $100. Was it worth it?
  2. Have disciplined office hours – set an alarm, get up, get dressed and get to work. Have a start time and an end time, and do not do laundry, get groceries, vacuum etc. during work hours. If you wouldn’t do it at the office, don’t do it from your home office. Don’t multi-task – FOCUS!
  3. Take an inventory of what you do really well and love to do, and what takes you too long and is outside of your skillset. If you spend too much time trying to figure it out, how much is it costing you versus the investment of having someone else do it for you. Virtual Assistants are great for that, have flexible hours, and because they don’t work just for you, they can work as much or as little as you need. In your first discussion with a VA, get the budget discussion out of the way, you may be surprised the suggestions and resources they can pull in to keep you on track.
  4. It takes a team! Now, I don’t mean a team of support staff (although you’ll get to that point), but align yourself with individuals that compliment your business, that you can refer people to and they can return the favor!
  5. Balance – succeeding doesn’t mean working 24/7, even if sometimes it feels that way! Balance work time with family time, office time with networking time. Let that balance change as your business does, and accept that it can change. What does balance have to do with budget? Absolutely nothing. But it is

Whether you own your own gasoline business or if you own a fleet of trucks, having your own bulk fuel delivery company may be just what you need for the future success of your business. It will help you get your own fuel in large amounts at discount prices so that you can save money. There are several steps that you need to follow to get your new business up and running.

The first step that you need to do is to write a plan for your business for your lending institution of choice. This forms the backbone for your company and consists of your vision and mission for your bulk fuel delivery business. This business plan helps the lending institution determine how much risk is involved in financing your business.

It is also important to check out all the competition so that you can see what you will be up against if you get your business off the ground. You can usually get the lists of businesses on the Internet, your chamber of commerce, or your local phone book. Once you have researched the competition, do what you can that will make you stand out in your city.

Another thing to consider if you want to own your own bulk fuel delivery business is to talk to other business people in the industry. More than likely, those in your town will not talk to you because they are the competition and they are not interested in helping out someone who will compete with them. However, someone from another part of the country may be a good source of information as you will not pose as an immediate threat to him.

You do have a couple of options that you need to consider when trying to determine what direction you want your business to go. You can either start up your own from scratch or you can purchase an existing business. If you choose to start your own, you have control of what goes on, but often, lending institutions resist funding new businesses due to lack of history. On the other hand, acquiring a known business is not as big of a risk, so lenders are more willing to finance you.

A third alternative is to purchase a recognizable business franchise. You can find out what is available by searching your local business directory or checking the various websites of possible companies that may offer franchising opportunities in your area.

Doing the proper research may even lead you in a completely different direction, or even to a new town. Your own bulk fuel delivery business may be just what you need to help your fleet be more competitive and efficient.…