Mowing grass for your neighbors is one thing, but actually starting your own lawn mowing business can seem like a daunting task. The reality is this: starting your own business is not difficult if you have the drive and do the research. Today we’re going to discuss the first vital steps to getting a business off the ground.
1. Drive and Research
Trying to start a business without drive and discipline is like trying to drive on an interstate highway with flat tires. You’ll end up going nowhere. The greatest factor that dooms businesses is not financial crisis or lack of capital; it’s equivocation and laziness. Personal discipline is the most important initial step towards launching a new business.
Do the research. Think through every detail involving starting a business. Where will you get capital? What equipment do you need? Will you need to rent a space to store equipment and start the business? How can my business be found on the internet? Will I have employees? How will you generate leads for clients? Have the discipline to ask the hard questions and use all of the resources available to you to get the answers. The internet offers many helpful sources, ranging from ratings of lawn equipment to applying for a business loan. It helps to make a daily or weekly research schedule to keep your efforts on track.
2. Capital
Gaining capital through pitching ideas to investors is becoming a thing of the past. New companies are often forced to find capital through other means. What if you don’t have your own money to start a business? What should you do?
The first step is to identify which type of capital you need to start, which for almost every new business is either Seed Capital or Start-up Capital. Seed Capital is funding for planning and research, whereas Start-up Capital funds equipment, supplies, and rent. Start-up Capital is particularly important for the first two years of a small business and it’s potential growth. When a business survives and begins to grow it will shift to Mezzanine Capital, which is also known as Expansion Capital.
Capital can come from investors, but most often it comes through the form of a business loan. When applying for a loan, think specifically about what the loan will be used for and the duration of the loan itself. Take time to think about how to sync up the funds of the loan with things you plan to use the loan money for.
3. Equipment
A cost-effective business is a sustainable business. A smart investment when starting a lawn mowing business is buying quality equipment. Sounds simple, right? Think about cost this way: A lot of capital is tied up in fuel, rent, and hired hands. Equipment failure or malfunction is an unexpected added cost. Therefore, when purchasing equipment, the paramount element should be return on investment. Based on operating costs, equipment repair costs lead to a poor return on investment and can quickly place your business financially in the red. Study equipment manufacturing and equipment reviews before making any purchases, as the right equipment purchase will lead to a much greater investment return over time. We can help with any questions you have here at Imperial Services. There are also options of Free Financing with some of the larger equipment you might want to purchase.
Give yourself due diligence when considering starting a new company. Do the research and do your best to answer all the hard questions. Remember, if you have the passion and the drive, you can start your own business and make it successful.
For more information about our line of commercial mowers, contact your local Wright dealership today. IMPERIAL SERVICES INC.
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