Many new business owners have stepped through our MaidPro doors and it's safe to say we've pretty much seen it all. Check out our list of the 7 most common struggles prospective business owners face today, compiled by yours truly.
Struggle #1: Bad Marketing - New owners often hesitate to put more money into marketing if they are unable to see an immediate return on investment. Since sales and marketing are directly correlated, lackluster marketing efforts cause a dwindling sales pipeline. Problems also tend to arise when owners are unsure where to spend their marketing budgets and how to analyze their marketing data.
Solution: Do your research! The information is out there from what is #trending to what others in your industry are doing. By joining a franchise, you will get the benefit of a proven marketing approach and brand equity. At MaidPro, we provide full marketing support, ranging from the latest in digital marketing tactics to tried and true traditional marketing approaches. You will receive a personal marketing coach whose expertise will guide you and your marketing budget to ensure you are getting the most return on your spend.
Struggle #2: Choosing the Right Technology - For a business to scale, it is important that you select the right tools and software to support that growth. It can be difficult to sort out what you need vs. what you want. Many times new owners select a software before fulling understanding their business needs and are left with an abundance of useless tools.
Solution: Reach out to other industry owners to see what types of technology and software they are using. Compare and contrast with different companies to see which tools fit best for your skill set and business goals. MaidPro has developed their own cloud-based software that allows owners to work from virtually anywhere. Custom built for the MaidPro home cleaning owners, you will receive all the tools you need and none that you don't. With the ability to make changes, updates and the like, your franchise team is constantly providing most current technology to keep your business running.
Struggle #3: Employee Turnover - Attracting and keeping responsible and loyal employees is one of the toughest part of owning a business. Knowing where to find applicants and how to vet them is a skill that many new owners have not yet fully developed.
Solution: Never stop interviewing. Your potential employee pipeline should always be full. As you learn how to better vet your applicants your business won’t suffer if your original employees turn out to be...uh, not-so-great. MaidPro has proven methods for advertising, interviewing and training new employees. We have even developed online training programs to streamline the process to get your PRO’s out in the field as fast as possible.
Struggle #4: Visibility - New business owners often do not have the resources to devote to social media, content development and search engine optimization. Without the use of these digital tools, businesses are virtually invisible to customers.
Solution: When you spend quality time doing research and building a solid, workable marketing plan visibility will follow. Attacking the correct outlets with targeted content will help boost your visibility. Joining a franchise will give you nation-wide brand recognition. MaidPro goes a step further by adding your personalized location page to our main site which will help you to win over conversions and better reach your target markets. Just make sure you're ready for the paparazzi.
Struggle #5: Competition - Competition from others makes it tough to talk about business needs with like kind owners in the same industry (outside of the franchise system.) Many times independent owners need to seek outside resources which causes strain on time.
Solution: Don’t ignore them but do your own thing. Acknowledging your competition is a must. In order to compete with them you must know who they are and what they’re doing. Make sure you continue to do what’s best for you and your company and not just mimic the competition. What competition? With defined territories you will never compete with another MaidPro. And our proven business strategies, marketing, and full-scale insurance policies give you a one-up over other franchises and independent cleaning companies. You will also have the backing of the franchise community; other owners will be there to help and give you advice.
Struggle #6: Delayed Success - Many times owners underestimate the time it takes for a business to become successful. Spending money on untested resources and untested vendors often times causes delays in profit and revenue margins.
Solution: Be realistic. New businesses do not turn a profit overnight. Having a reasonable business plan will give you a cushion when it comes to creating business relationships and testing new resources. MaidPro's franchise Home Office staff have experimented and vetted every resource needed for your business so you won’t have to. With pre-existing vendor relationships you can receive deals and cut-rates on products. We do love ourselves a good deal!
Struggle #7: Banks - Working with banks is often times uncharted territory for new business owners. Providing your business with adequate start-up capital is one of the most vital keys to success and a banking relationship is often essential at sourcing additional start-up funds.
Solution: Don’t be afraid of banks. They are there to help and serve you, not the other way around. Taking the first step to schedule a meeting will help you lay the ground-work for what is to come. Your personal MaidPro business coach will help to talk you through the process of working with your bank. They will tell you what you need and what to watch out for. They act as a support system so you and your bank are satisfied with your financial plan. Boo-yah!