PDA

View Full Version : Andrew needs business assistance.


Steve
01-08-2008, 09:45 PM
Andrew sent me an email and is looking for business assistance. I wanted to post it on here to get everyones opinion so he can get as many points of view as possible.

Quote[/b] ]I just watched a few of your videos on youtube.com and your website. I am a younger Lawn Mower business owner (in my 5th year) I started when was 16 on my own. I have all the same equipment that the pros use: zero turn scag rider x2 a 48in and 61in and 2 shindiawa trimmers. But what everyone else has that I don't is a good name and advertising. All I have is my name and number on a board, I was wondering if you could do anything to help me out to get my business to grow.

First off I would like to say, if you get paid for what you are doing, you are a pro. So see yourself as a professional. http://www.gophergraphics.com/forum/iB_html/non-cgi/emoticons/smile.gif

Secondly, when you say you don't have a good name or advertising, I am guessing you mean a brand when you say a good name? Or possibly name recognition?

These things are built up over time.

What kinds of things do you do to get the word out about your business? What kinds of marketing methods do you utilize? How have you been finding new customers?

EARLY BIRD MOWING/LANDSCAPING
01-08-2008, 10:01 PM
For your name; try useing something that fits you just look at your life and go from there, as for advertising try your local paper.

Andrew's Lawn Care
01-09-2008, 06:31 PM
Thanks I never thought of doing any of that stuff.

FourSeasons
01-12-2008, 12:36 AM
There is alot of threads about getting your name recognition. We talk about it alot on here. I don't know where the threads are.
But -
Do a service to or for the community.
Do a press release about yourself
Sponsor something in your community like a little league team or soccer team.
Put yourself in a parade.
Clean up a park or something.
Adopt a highway.
Put signs on all your vehicles and trailers
Hand out cards to everyone
Paint your truck so it stands out or have it wrapped
Wear uniforms that stand out.
Make yourself a pillar in the community
Advertise, Advertise, and Advertise some more.
Etc.

Steve
01-12-2008, 02:49 PM
Rob,

Out of that list, which do you feel you will want to do or be able to do this year?

FourSeasons
01-12-2008, 02:57 PM
I'll be doing these for sure-
Advertise, Advertise, and Advertise some more.
Put signs on all your vehicles and trailers
Hand out cards to everyone
Wear uniforms that stand out.

Things I would like to do-
Paint your truck so it stands out or have it wrapped - I like the tailgate wrap idea even though I almost always have my trailer.

Sponsor something in your community like a little league team or soccer team.- I would like to do this someday. I really like this idea because people used to sponsor the teams I was on when I was a kid.
I don't think this year though.

Steve
01-12-2008, 05:18 PM
Quote[/b] ]Sponsor something in your community like a little league team or soccer team.- I would like to do this someday. I really like this idea because people used to sponsor the teams I was on when I was a kid.
I don't think this year though.

Have you checked around for the cost of this?

FourSeasons
01-12-2008, 05:24 PM
Quote[/b] ]Have you checked around for the cost of this?

No but I don't think I'm ready for this just yet. I know this could help me to get my name out. But I feel that any extra funds right now going into my second year in business should be going back into the business.
I don't even know what it entails though.

Steve
01-12-2008, 05:32 PM
Does your partner share with you or come up with many marketing ideas that you are interested in trying?

ABurlison
01-12-2008, 05:46 PM
I know in my town the little league shirts were around $15 each and you need to get around 15, so what is that 225, not sure what kind of ROI you'd get from this, but might be worth it. I know my local newspaper contractor section for Lawn care or Yard work is $175/Month, I'm sure the paper would have a better ROI.

FourSeasons
01-12-2008, 05:49 PM
We haven't made it this far yet in discussions.
We have to kind of interview each other before partenring up.
I want to know things like how are we going to handle disagreements. Any other ideas I should be talking about to him to get a good idea if we would work out together in business

FourSeasons
01-12-2008, 05:51 PM
Quote[/b] ]I know in my town the little league shirts were around $15 each and you need to get around 15, so what is that 225, not sure what kind of ROI you'd get from this, but might be worth it. I know my local newspaper contractor section for Lawn care or Yard work is $175/Month, I'm sure the paper would have a better ROI.
Thats not bad.
Whats ROI?

ABurlison
01-12-2008, 05:55 PM
Return On Investment

Steve
01-12-2008, 09:21 PM
One of the things to consider when talking about return on investment is that it is difficult to put a price on the goodwill your business can have with a community.

Sometimes $175 buys you more goodwill than you could ever dream!

For instance what if you sponsor this team and then a couple of the family members hire you to service their lawn? How much would you then make on that investment over the year(s) you service them?

Would it give you a better return in the long run than an ad in the paper?

Would other parents see your name on the team tshirts and want to use your services because you support the kids?

Could you use their team picture on your website and your marketing material? Could that help you win over other customers in your area because you are more involved in your community than another company?

These are fascinating things to consider!

ABurlison
01-12-2008, 09:31 PM
Yeah, I think that personal touch with the community is PRICELESS, and that is a great idea, a section on my website where I supported the local little league team, with a team picture, that's a great idea!

FourSeasons
01-13-2008, 01:00 PM
Quote[/b] ]Would it give you a better return in the long run than an ad in the paper?

Would other parents see your name on the team tshirts and want to use your services because you support the kids?

Could you use their team picture on your website and your marketing material? Could that help you win over other customers in your area because you are more involved in your community than another company?

These are fascinating things to consider!

Good points Steve.
That even kind of makes you feel good just reading the potential outcome of sponsoring a team. To be able to show people that you are a part of the community.

Steve
01-13-2008, 10:29 PM
Goodwill is something we don't often think about.

Check out this definition.

As you can see by the reading. Goodwill can make your business worth a lot more than it's book value.

You can also command a higher price for your service or product if your business has a perceived value of goodwill within your community.

What's your view on this?

Wikipedia (http://en.wikipedia.org/wiki/Goodwill_(business)) - Goodwill in financial statements arises when a company is purchased for more than the book value of the company. The difference between the purchase price and the sum of the fair value of the net assets is by definition the value of the "goodwill" of the purchased company. The acquiring company must recognize goodwill as an asset on its financial statements and present it as a separate line item on the balance sheet, according to the current purchase accounting method. In this sense, goodwill serves as the balancing sum that allows one firm to provide accounting information regarding its purchase of another firm for a price substantially different from its book value. Goodwill cannot be negative, instead you would write down the assets to the appropriate level.

For example, a software company may have net assets (consisting primarily of miscellaneous equipment, and assuming no debt) valued at $1 million, but the company's overall value (including brand, customer, intellectual capital) is valued at $10 million. Anybody buying that company would book $10 million in total assets acquired, comprising $1 million physical assets, and $9 million in goodwill. Goodwill has no predetermined value prior to the acquisition; its magnitude depends on the two other variables by definition.