Why does someone go into business for themselves in the first place? Sometimes out of necessity, for instance, when they’ve lost their job and can’t find another one because of economic downturn, their age, or, their lack of marketable skill sets. But I believe most go into business to effect change. They are not satisfied with the status quo and they believe they can improve their lives, either economically or in quality of life such as, job satisfaction. One of the most pervasive myths is that a product is so fantastic that it “sells itself”. Nothing could be further from the truth. Another myth is you are your own boss – again – false, each and every customer is your boss. It is your job to satisfy them – or – if they are on the wrong track, to educate them.
I believe the biggest myth of all is “bigger is better”. An example of this myth was when the biggest banks had to be “bailed out” by the government when the housing bubble burst in 2007-8. It has happened with the auto industry. Bigger being better comes with a major drawback. It is like a one thousand foot long ship weighing one hundred tons carrying two hundred tons of cargo going fifteen knots. Suddenly, an object appears in front of the ship – but – because of it’s size and weight it cannot change course quickly to avoid a collision. Now if an eighteen foot boat weighing one ton travelling twenty knots sees an object it can change course rapidly and hence, avoid a collision. A small business is more adaptable to changes in the business or economic climate. For instance, in the case of the Gravel Doctor there is no, or, very little inventory filling a warehouse. Imagine, being in a buggy whip business with a warehouse full of the latest buggy whips when Henry Ford put his model A assembly line into high gear. The thought of that gives me cold chills.
Smaller is smarter for other reasons. Most entrepreneurs do not have the capital, or the skills to grow their business into a huge conglomerate. So, having a more manageable smaller business involves less risk for the entrepreneur in capital equipment costs as well as operating costs. If you keep your operating cost down you have the advantage over your larger competitor. Also, offering a niche market service with unique, job specific proprietary equipment separates you from any potential competition. If you are serious about becoming a business owner I encourage you to call the Gravel Doctor to discuss this opportunity in greater detail. 1-519-677-5935.