For many security system engineers and installers starting out on a career, getting to the stage where they can set up their own business is the end goal. However, running a successful installation business is about far more than technical ability – which tends to make it quite a stressful task.
Here are a few tips that will help installation business owners reduce their stress and handle things will ease.
The first tip is addressing what is probably the number one reason for stress in business – being low on cash. Here are some ideas that can help you avoid getting a cash flow headache:
- Make sure to set aside money for your tax bill.
- Have a solid rule to invoice everything, no matter how small. Buy everything on account so you can pay later.
- The bigger the customer and the bigger the contract, the more likely you are to be paid late. So, prior planning is a must.
Another takeaway is getting your pricing right. Underestimating a job and setting a lower quote than you deserve won’t just affect your business, but is also produce huge stress.
In business, there is always a dilemma. There are usually things that need your attention TODAY – if left they will create problems immediately. Then there are things that can always wait one more day but which have a big impact if never tackled.
In short, if you neglect the urgent you will go bust and if you never get around to the important, your business won’t grow. Both can become a source of stress.
As a rule of thumb, ALWAYS give attention to the urgent. At the same time, find a few hours a day to spend on other tasks. But don’t set your aim too high. Solid and steady actions can also lead to progress and will soothe down for you.
What is more stress inducing than wasting your and your customer’s time and money by being disorganised? For example, not having the right equipment on site or finding out that the CCTV camera your customer wanted can’t be delivered until a day or two.
All of this can be overcome by better and careful planning. Not will it make life easier all round for you but will also establish you as a leader among your customers.
A stress free business experience
Starting a business is an achievement but sustaining one is the real task. One you have setup your installation business and have customers coming in, developing a solid foundation for a sustaining business becomes necessary. By following the above tips, you can reduce a lot of stress for you and your team members and your business will automatically start flourishing.