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How To Survive Your First Year In Business

How To Survive Your First Year In Business

August 4, 2021
More Efficiency, Less Paperwork. Easily manage jobs, customers, scheduling, employees, and business costs and profit.

Saying goodbye to your boss and starting your own field service operation is something that countless tradies fantasise about. However, those who want to trek down this path must know that surviving the first year of business is no easy journey. This is because you have to find ways to attract the right kind of customers, spend in the ideal areas and save where you can – all while maintaining the highest standards on the job.

With so much to consider, you can expect to encounter some difficult obstacles in the first 12 months. However, there’s no need to panic as there are numerous steps you can take to smooth out these bumps and set yourself on the road to glory. From having a clear business plan to expanding your customer base, consider these useful tips to help your budding field service operation stay successful in its first year.

Create a Thorough Business Plan

The worst thing you can do as a new business is make haphazard decisions. Instead, make sure you put together a comprehensive business plan to ensure you know what steps you’ll need to take to get ahead of the competition. While this doesn’t have to be an expertly crafted formal document, this approach will undoubtedly pay dividends if you guide your decision-making by answering certain questions with data. For instance, how much do you have to spend on marketing? What do your core customers consider valuable? How are your competitors attracting business?  

Every Company Needs a Rainy Day Fund

Many start-up businesses launch with a bang but quickly discover that attracting repeat and long-term customers is easier said than done. This means setting aside funds for downtime is hugely important, as you never know when your calendar will look a little bare without any observable reason. It might be tempting to spend big on new tools when you complete a successful project, but consider whether this cash might be better squirrelled away for when times unexpectedly get tough.

Invest in Your Future Wisely

Once you’ve saved up enough funds that it makes sense to upgrade your business, new business owners need to think very carefully about where this spare cash goes. No one blames you for wanting the latest and greatest ute, but it’s probably not the wisest investment if your current work vehicle doesn’t have any problems carrying your tools. In fact, there’s a good chance your growing business will benefit far more from sinking this money into an appealing website, social media ads and eye-catching branding.

Make the Most of Your Network

Don’t expect to have the entire local customer base to yourself – unless you launch your business in literally the middle of nowhere. As you’re almost certainly going to need ways to attract customers over the competition, you have to develop sharp ideas for building your network and capturing business. For instance, you can contact friends and family to learn whether they need a talented tradie to complete a project. Meanwhile, you might ask former colleagues or even your next-door neighbour. The point is you have to keep an open mind about finding customers, earning testimonials and spreading the word about your skills.

Don’t Forget to Appreciate Your Wins

There’s often a lot to worry about when you’re in charge of a small field service operation. But that doesn’t mean you shouldn’t stop to celebrate your latest win – even if it’s only something minor compared to a large business. When you’re unsure about where your next job will come from, locking in an exciting project or seeing a big payday hit your bank account can feel like you’ve taken over the world. So even though things can get challenging in your first year of business, celebrating at the right time ensures you appreciate your success and feel inspired to achieve even more.

Take charge of your business with FieldPulse

Keeping your business organised can make a major difference in terms of your long-term success. Fortunately, FieldPulse’s handy business management app makes it easy to take charge of the dullest aspects of your day-to-day business. From keeping track of customer information and processing invoices to scheduling a job with a new client, you won’t have a problem staying on top of your operation’s finer details.

Although FieldPulse can’t help you cut timber straight, it can ensure you’ll never have to deal with annoying paperwork on a daily basis. So instead of spending your days struggling to keep track of notes and numbers, use our app and streamline your operations. Ready to get started? Schedule a free demo today and discover what makes FieldPulse different.

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and easy on your wallet.

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