Have you been reluctant to start your own business due to the economic uncertainty caused by the pandemic? As the months in 2021 continue to fly by, all signs indicate that life could eventually be “normal” once again. The economy has recovered better than expected, and business is thriving for many. Now is one of the best times to fully realize your dreams of becoming a successful entrepreneur in the roadside assistance industry. Whether you decide to open a side hustle, or make this your full-time job, there are plenty of ways to plan for success.
Riggs Roadside Assistance shares top strategies for launching a profitable roadside assistance business this year.
Enlist the help of experts
Trying to start a business by yourself can feel overwhelming; with so much to know and learn (writing a business plan, raising startup capital, etc.) it would take you countless hours to master everything. Be smart about how you use your time by enlisting the help of various experts.
New business owners find it particularly helpful to work with professionals such as a branding services, graphic designers, accountants, social media managers, and virtual assistants. The people you hire will vary depending on your skills and individual needs. Getting expert advice on how to do your taxes as a self-employed individual, how to provide excellent customer service, and how to market your business can prevent mistakes and deliver serious ROI.
Use innovative tools to monitor and control cash flow
A surprising number of new (and experienced) business owners do not know how to monitor and manage their cash flow. Unfortunately, this singular issue has resulted in the preventable closure of too many businesses.
From day one, make it your goal to stay on top of your cash flow by using innovative tools. You can boost your invoicing process, monitor expenses and accounts receivable, and track revenue streams with powerful reporting software from companies such as QuickBooks. These programs give you the ability to create multiple invoices at once, to categorize cash flow, review benchmarks, and monitor spending trends. Having this level of insight is incredibly valuable when looking to keep your cash flow steady and predictable.
Create an engaging online presence
Marketing your business online is no longer optional. One recent study estimated that 70-80% of people research businesses online prior to making a purchase. Whether you are selling physical products or roadside assistance services, having an engaging online presence is crucial.
The first step you should take toward promoting your business online is to build an attractive and user-friendly website. Your website should be functional on both desktops and mobile devices. Write a list of everything your potential customers would want to know about your business, and begin creating pages and content based on this list. Strive to make it easy to contact you and to purchase services. Additionally, you’ll need to create social media pages on the platforms your audience most frequently visits. Post informative content that educates your customers about relevant industry topics, and that establishes you as an authority. With every piece of content you post, make it your goal to add value to the lives of your customers.
Begin networking ASAP
Networking is one of the best ways to generate leads for your business. Rather than relying on marketing and advertising alone, getting out and meeting other local entrepreneurs is a must. With each networking group meeting you attend, you will build trust within your community, and be increasingly likely to receive word-of-mouth recommendations.
There is never a “perfect” moment to start a business. Becoming an entrepreneur always has some inherent risk. However, when you are equipped with the right strategies, you’ll put yourself in a position to succeed.