| Fortunately for you, most of that ‘stuff’ is covered below.
By putting the right things in place now, you can make sure you get clarity on where you want to go and how you want to do it, and you’ll spend your time taking deliberate actions in pursuit of your bigger goal, rather than lurching from day to day without a plan. Albeit with the best of intentions. |
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Get clear on your business vision and goals
First up, get clear on what you want your business to be. Do you always want to be a one-person band working in your current location? If so, that’s absolutely fine.
Do you want to grow into a multi-disciplinary business offering other trades as well as electrical contracting across all of the states? If so, that’s absolutely fine, too.
Whatever your BHAG (Big, Hairy, Audacious Goal), you need to map out a way to get there. A business plan outlining your market, your products and services, financial projections and marketing strategy (more on that later) will enable you to understand your costs, and create goals to work towards and track as time goes by. Track your key performance indicators to keep you on track towards your goals.
Build your brand
From deciding on and registering your business name and designing a logo to getting uniforms and caps, and even nailing your email tone of voice, A LOT goes into building your brand.
You need a website so potential customers can find you online. Get your search engine optimisation right, and you can save a fortune on digital advertising. Your website address should be logical and aligned with your business, and you’ll be able to get a professional-looking email address once this is in place too. Bobselectrics@yahoo.com.au will work fine, but it doesn’t look prof.
Have a marketing plan
If a business is created but no one knows it’s there, is it really a business? Yep, we do philosophy here, too. But it’s true, right. Without customers, your business isn’t real, so you’ve got to promote and publicise the fact you exist.
This can be done in any number of ways – flyer drops, local posters, sponsoring local sports teams and hooking up with local business groups are all legitimate options.
Set up Facebook and Instagram accounts and start sharing stories of you and your business, too. You’ll build a following, which is essentially an untapped pool of potential clients. Create a marketing plan you can work towards – plan, measure and evolve.
A big part of your brand is your customer value proposition. Why would someone call you rather than a competitor? Identify that, and share it throughout your marketing.
Make sure you’ve got all the boxes ticked
You need the right insurances in place . Professional indemnity is a must, and if you’re employing people, you need to make sure you’ve got workers compensation sorted too. There’s a mountain of workplace health and safety compliance  you need to manage, so make sure you’re across all of that, too.
Get the software in place
The right software can automate processes and save you a load of time. It can also enable you to do more.
From the right email program and accounting software to job booking systems and measuring time spent and profit on individual jobs, choosing the right systems  will give you insights into your business that will enable you to make the very best, most informed decisions in the future. Choose reputable, cloud-based systems that put cyber security high on their list of priorities.
Managing your finances – well
Running your own business is a lot of responsibility and you need the right people in your corner. You’ll need a business bank account, and an accountant – ideally one who works with other trade businesses  – is an essential.
A good one will be able to help you set up and register your business, advise the right structure, and keep you compliant in terms of BAS, GST and everything else you need to do.
Knowing what to charge, how and when to raise your prices, and ensuring you get paid on time are crucial, too.
Choosing the right wholesaler to work with
The right wholesaler will give you more than products.
Choosing an independent electrical wholesaler will offer you local knowledge, exceptional products – and expert product help – as well as a friendly face when you need it.
Gemcell independent wholesalers pride themselves on going above and beyond, and if they can help, they will.