Blueprints for Success
"The secret of your success is determined by your daily agenda.”
~John C. Maxwell
I’ve touched on this briefly in previous chapters, but here we’re going to begin digging into the details of creating a successful business. Remember the 4 points I mentioned in chapter one to achieve a goal? Now I will cover the ‘research’, ‘learn a skill’, and ‘take action’ points in detail as we move through this chapter and beyond.
What does a consumer think about when purchasing goods or services?
•high-quality
•availability
•fair price
•customer service
Sometimes a consumer will compromise something for a great price; we call it “getting the biggest bang for your buck,” but generally, these four attributes govern most purchases. Your company can fulfill all of them without compromising adequate profit. You will have cornered the market with your products and services, and clients will share a review online or tell their friends about your company. And that, my friend, is priceless!
Finding a Rich Market
What do you suppose happens when a company or business has all of these things in place and yet, can’t seem to accumulate revenue and make a profit? Most likely, it has to do with these four outside factors:
•economic uncertainty
•lack of industry necessity
•low market demand
•high competition (high supply)
It’s hard to stop the bleeding while it’s happening, but you may be able to prepare for any situations that could occur. The smartest thing you can do for your business is to hedge a wall of protection around these factors as the big business boys do.
Economic Uncertainty: As we had already seen in 2020, economic uncertainty can happen without warning. Or was there a warning? The answer is yes! Before the Covid-19 pandemic reached the U.S., it began in China. Before it was in China, a patent was filed and approved by the USPTO in 2012 listed under The Pirbright Institute (U.K.), the C.D.C. (U.S.), and Rockefeller. ( I reviewed the patent myself before it was removed from the internet as public information) I’m sure that information just shocked you!
One of the ways to hedge our business is to be aware of what is happening on a worldwide scale, but do not overreact if the news is unfavorable. Subscribe to an unbiased and trustworthy channel or website and keep abreast of the latest news, always thinking of how your business can benefit, or needed preparations to guard your cash flow. You can check out my favorite site: NewsNow.com. This site is phenomenal because I don’t have to waste time on news stories that don’t apply to me and my business. This particular news source is the alpha of sources where news happens first before word gets out around the world. As entrepreneurs, we need to take an active approach to newsworthy stories and always look at the positive side, believing in possibilities and opportunities.
Lack of Industry Necessity: Finding an industry’s value is the key to knowing if you have a winning product or service to market within a specific area. Analyzing similar regions can give you answers as well as the status of a community’s economy. Be broad-minded in your deductions. Just because a community doesn’t have many dry cleaners doesn’t mean it doesn’t want one. Perhaps no one has ever opened such a business in the area. In our search, there were awnings on shopping center storefronts, restaurant patios, and hotel entrances. However, there was only a couple of awning companies here. Shortly after moving to the area, we discovered that a long-time company had gone out of business due to the owner retiring and his children not wanting to continue the family business. We landed in a prime area to open our awning company! Also, since we moved here, there has been an enormous migration south as political uncertainty and high taxes in some states have forced Americans to look for stability elsewhere. Being at the right place at the right time in history as it unfolds is where the real magic happens.
Low Market Demand: To determine the need for any particular item or service, you need to analyze who your customer is and the likelihood they will purchase from you. For instance, if you are an expensive car importer, the chances of you having multiple sales in a rural farming community aren’t too great. Contact your local Chamber of Commerce or Business Alliance group if you have trouble finding per capita numbers of consumer purchases or local support. They often have annual, if not quarterly, breakdowns of goods and services. You can also speak with industry business owners or Commercial Real Estate groups to see how many businesses are failing or growing within a specific area. Again, you want to ensure a high demand for your business before sinking your life savings into an endeavor. Here’s one funny, but sad story I heard in a marketing class years ago I never forgot: Many years ago, Chevy made a car model called a Nova. They wanted to expand their reach into an untapped market south of the border-Mexico. Without doing any research on the name of the car or how it would impact sales, they moved forward with opening a dealership in the area. Not one Chevy Nova sold. Why? Because in Spanish, the name means “doesn’t run”. Remember that fools rush in, wisdom steps cautiously.
High Competition: If an area has several high-quality widget makers, chances are, none of them will have a thriving business unless one or two offer some specialty or consistent advertising. There are only so many people in any given area to support any given product or service. But, if your competition sells poor quality or there is no competition at all, then the chances of your success increase dramatically. Because an industry can be competitive on price points, several companies will have to downgrade their products to compete in the marketplace. The basic economic foundation of supply and demand drives prices of products and services down, resulting in companies going out of business. Try to stay away from the high competition if at all possible.
In some areas, you won’t see a single awning, and in other areas, you’ll see them on just about every home or business. Some awnings will be of inferior quality, while others are top-of-the-line gorgeous. A great way to determine if your awning business or other subcontracting business will succeed in a geographical area, find out about the demographics of its residents. The higher the income levels of the residents, the higher their expectations are of aesthetically prone storefronts. You can make a sizable amount of money with little effort by doing market research and being open to where the business has potential. But, as we’ve discussed, there are more steps to determine if a market is worthy of your business.
Before launching into a marketing campaign in your ‘presumed’ ideal market, make sure you are ready for the big times. Your business can hit fast and hard, and being prepared for this will build your image and reputation with respect and admiration.
#1. Start Small. Stay focused on your foundation. If you move forward with too many jobs before you know how the first few are progressing, you’ll lose quality control and may be out of business before receiving your first payout.
ALWAYS ask for a 50% deposit before the commencement of the project. By doing this, you’ll still be able to keep the business going without risking the entire profit on the customers’ final payment. A deposit also invests the customer in the project, lessening the possibility of not honoring the contract. Be realistic about what your company can achieve and what it’s not ready to take on.
#2. Work Smart. The awning and shade industry is a long-term type of business. It requires your commitment to working five days a week with at least a 3-hour a day focused dedication until you find employees to fill your roles. If you learn to organize your time to work each day efficiently, you will undoubtedly become successful. Develop a duplicatable system from the beginning so you can transition out of all the hats you might be wearing in this business. If you can’t do it yourself, hire someone else.
#3 Be Digital Marketing Savvy. Your online presence is often the first thing a potential client will see of your business, either on their handheld device (phone most likely), tablet, or computer. Make sure your website is formatted to each device so all information will show up clearly and legibly. A rule to judge your site by: If the customer can’t see your product, is unclear of your process, can’t find the answer to their question, or isn’t able to find a way to contact you, then they will move on to your competition, end of story. If your website is of poor quality, you’ve just handed your competition a customer, and the money which should have been in your pocket will be in theirs. Do your homework and find a reputable site host and designer to create a website for you if you are challenged in this area.
On the other hand, don’t be discouraged if hiring a designer is out of your budget. Most site hosts, such as GoDaddy, DreamHost, GreenGeeks, and A2 Hosting, are popular hosting services (modern platforms, quality performance, priced reasonably, no downtime, and offers 24/7 customer support) with options for designing the site yourself or links to a plethora of sites (such as WordPress). As I mentioned earlier, our favorite is GoDaddy for several reasons. They are not perfect, but they are perfect for us. When searching, keep an eye on their Better Business Bureau ratings and what TrustPilot has to say. It’s better to get more information than you need here, as you will rely on your website more than you could ever imagine.
Everyone has their own opinion on who the best is, but we found GoDaddy to work well. We designed our own site, CanvasBackAwnings.com, for under $200 per year, and the service has been excellent. Your host most likely will provide you with many additional goodies such as email addresses, campaign bots, analysis, etc... Utilizing these processes take some time to develop, but they will ultimately improve your business revenue over the long haul. Take time to research the most modern website templates offered and how they benefit your needs and industry. Remember that your potential client is probably internet savvy and can distinguish between a good website and an outdated one. A website should be treated as your professional “elevator pitch,” as sales gurus will tell you in their popular books. You have one chance to make a great impression on the potential client. By making these critical decisions, you can see if having someone else design your site or D.I.Y. will be most cost-effective.
Be Organized
Successful entrepreneurs will tell you to make a plan for the week in addition to a daily plan. List the three most important tasks for the week and then the three most important tasks per day. The rest of your tasks can be listed under those. Eventually, extra tasks make it to the top three on the list due to the organization, the focus of each task, and your ease in completing the listed goals. Give it some time to develop this habit. Soon, you’ll recognize that you are benefiting from this plan. I do certain tasks on specific days and sometimes during specific hours. By doing this, you can become proactive and resist the temptation of working in a reactive mode. If you don’t stay committed to your schedule, you will quickly find yourself blown around like a leaf in the wind. You need to devise a plan and stick with it. Think your routine through and then move forward with a plan.
If you feel the middle of the week gives you a bit of breathing time, schedule sales calls on Wednesday. Clients are often more apt to listen intently to you as the week slows down after a busy Monday. You may also find, as I did, that toward the end of the day is an excellent time to schedule appointments, as the ‘gate-keeper’ has gone home and the owner most often answers the phone. You not only have the appointment, but you’ve also made contact with the decision-maker and had the opportunity to develop your relationship with them.
Communications: just the word can send chills through a C.E.O.’s veins or send the most competent marketer running for the door. But you don’t have to be afraid of it; confidence and training will cure your fears. Communications can be the most rewarding part of your business. In any outsourcing business, communication is a necessity:
1. It’s how you gain, retain, and further develop your client base.
2. It’s how you achieve organization on projects.
3. It’s how you stay on top of your business, even when your orders triple.
A Day at the Shop
We talked about being organized when your business launches. Here, I’m going to spell out how a business schedule would look in our office.
Daily Tasks:
•Answer incoming calls
•Answer all current client’s emails and correspondence right away.
•Forward new project leads from your email inbox into a master list.
•Respond to leads immediately with a scripted automatic message or phone call (recommended) listing your business contact information as a “signature” ( found in settings of your email provider).
•Enter lead contact with description to Master Quote List
Throughout the Week:
•Follow up on quotes sent from last week’s list. Schedule list for appointments with clients at the location of the project
•Forward any tasks to other employees who may need inclusion or support
•Visit the client’s office for final payment checks or arrange closeout of the projects.
•Order supplies from vendors (try to combine orders to lower your shipping costs)
•Schedule jobs with contractors, follow up on current orders (sewers, contractors, installers)
Emails and other Communications
Because emails play a large part in communication, use these tips to make sure your communications are understood and helpful:
•Keep emails short, concise, and very personable. Always type a heading in the subject line, so the customer will know it’s from you, such as ‘Awning Bid for July Install’ or such. (use *Urgent* for current clients)
•Use complete sentences and words with proper grammar. Don’t abbreviate unless it’s of universal use. (Grammarly is a great tool for correcting mistakes)
•Ensure your signature includes your contact information: phone number, website link, and a business card photo image added.
Get a Brand Logo: Your business profile grows as your logo becomes recognizable. Design your own for free at Canva.com or have someone else design a logo for you on Upwork.com or 99designs.com. Don’t let designing a logo hold up your invoicing or your website launch. It’s essential, but it can’t stand in the way of progress. Insert your logo on every document and communication tool you use; website pages, URL address, business cards, email signatures (if appropriate), and financial documents (invoices, statements, tax reports, etc.). Your professional logo is your brand that imprints your business image into the minds of your target market (and Google loves a photo image as a logo). but graphic images work well also. It is the most basic memory ‘stamp’ the brain uses. (be aware of copyright laws) Simple works best, and keep in mind that colors may show up differently in print than online. Only change it if your logo is outdated in design style or your company is well-established. With these details in mind, design away!
Job-status Boards: If you need to keep even just a few team members updated on the progress of orders and jobs, it will be helpful to purchase a large dry-erase board or some other medium of keeping updates visible. Many businesses rely on this simple technique, and often it has been the most measurable means of current information. For record-keeping purposes, take a snapshot of it before erasing it.
Join industry groups: The Industrial Fabrics Association International I F A I is the largest association for awning companies. It has proven its value time and again in supplying information and connections with other awning companies with new products and services for industry growth. Imagine that as a goal for your business! Your company can become an industry leader and end up with your photo on its cover magazine.
Your Clients Determine Your Profits
I have found that incredibly successful people have one thing in common throughout my years in business. I have mentioned it before, but I don’t think it can be repeated enough.
The respect you have for your clients and the integrity you exhibit as a business person will rise above any high-end marketing scheme or latest awning design. If you never take your clients for granted and build a strong network in your community, then your company will be the first on their minds when they are ready for your product and service. Having a business with a consistently positive reputation is priceless, and it begins with your very first order. Follow the simple suggestions laid out in this book, and the rest of your business plans will naturally follow, providing the client with a memorable business profile.
