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    3 Replies Latest reply on Jul 8, 2009 2:25 PM by BizStrategist

    How to run a business?

    Bismarck Newbie
      Me and my wife bought a business 2 years ago it is an Upholstery and Engineering business.She does all the Upholstery and I am doing all the Engineering.We bought the business with a Vendor number on two very big mining companys.So far we have been struggling, we seem to get through our months with just having enough to cover our basic overheads.

      I was talking to one of my clients the other day and he said that he thinks it will be a great Idea if we could start a washing bay on the mine itself where the mine workers can stop in the morning park their cars and while they work we can wash their cars for them.What do you think is it a good idea?
        • Re: How to run a business?
          LUCKIEST Guide
          How to run a business. Welcome

          Who are you?? Where are you?? Since I know so little about you, and you want to know if it is a good idea.
          Lets turn the question around. Have you run the numbers?? Do you see the idea (or business) showing a positive cash flow?? How long before you cover your costs (if there are any)??

          If I drop off my car in the morning, Do I leave you the keys?? Do you have enough parking spave?? If you wash my car during the day, will it still be clean at the end of the shift?? or covered with dirt?? dust??
          Will you need additional insurance??

          Good luck
          • Re: How to run a business?
            BizStrategist Newbie
            Narrow the scope of your company. You cannot be all things to all people or you wind up being nothing to no customers. Be careful with adding all sorts of services without duly research. Look around at your current customers. What's the primary reason that brings them in. Do what you best better and people will respect what you do even more. You become the go to company for that special niche. Continue to enhance the company outlook and research, research, research. Find out what your community is looking for in your best service, let them know that you offer and provide it for them.

            Best of luck!