Fully Automate Your Bookmaking Operation With A1 Price Per Head
Running and managing your own independent bookie business in today’s highly competitive marketplace can be a tall task if you are going it alone. Major advances in both technology and software applications have added a high level of sophistication to the entire business process.
Fortunately, A1 Price Per Head is there every step of the way. For more than a decade, this bookie services site has been helping private bookies run and manage their own bookmaking operation with a high level of success.
The key to this success has been A1’s complete solutions approach to its bookie services package.
A1’s Complete Solutions Approach to Bookie Services
Based in Costa Rica, the ownership group behind A1 Price Per Head comes from an extensive background in both sports betting and online gaming software. This bookie services package is a direct result of all this experience coupled with a high level of professional expertise.
The finished product takes a complete solutions approach to weekly bookie services. The sports betting software suite is both comprehensive in its design and turnkey in its application. Navigating through the various software applications is easy to do. When you first sign on with A1, you can be taking action from your customer base that same day.
A1 Offers Complete Online Automation
Another crucial part of the process is the technical side of your bookie business. The No. 1 goal is to fully automate all of the daily tasks that go into booking sports bets while also running and managing that business online.
By moving your bookmaking operation offshore with A1, you are fully protecting those business interests while also protecting the privacy of your entire betting base. You can rest assured that A1’s internal operating system would rival what the biggest commercial sportsbooks are using to power their online betting platforms.
By taking a complete solutions approach to bookie services, A1 does not leave anything to chance. Through superior software products backed by professional in-house support, you are signing on for the complete package of bookie products and services.
A1 Offers Affordable Bookie Software Products and Services
Best of all, you will be paying a highly competitive price per head rate for these superior products and services. For around $10 per week per active betting customer, your base plan contains everything you need with no hidden costs or added fees in the fine print.
A1 offers quantity discounts on your weekly per head cost depending on the size of your active customer base. These discounts start to kick in for as few as 30 active bettors. Although, there is no minimum in place to utilize everything A1 has to offer.
To help get you started, A1 offers an extended free trial that will let you test drive the entire price per head package. There is no upfront cost to take advantage of this offer and there is no further obligation once the free trial is complete.
As a premier bookie services provider, A1 remains extremely confident in its ability to deliver a superior product that is fully supported by a professional in-house business team. From account managers to IT specialists to knowledgeable customer service reps, A1 has made the necessary investments in both its business products and support team.
There is no better value in today’s marketplace for anyone interested in running their own bookmaking business.
The Benefits of Using A1 Price Per Head Bookie Services
If you currently run your own bookie business, now is the time to ramp up your efforts with the help of A1 Price Per Head. If you are looking to start your own bookie business, you can turn to A1 for everything you need.
The bottom line with this pay per head site is a list of benefits that add true value to the affordable weekly per head fee charged for each active betting customer.
Understanding The Pay Per Head Business Model
Just about every site offering bookie services subscribes to the pay per head business model. You are basically leasing the necessary software solutions to run your bookie business online. Based offshore, they offer an easy way to process all the daily online transactions that go into booking bets.
Your business runs through their internal operating system. You run an online betting portal where your betting customers can place their bets and manage their online betting account. This why private bookies are sometimes referred to as independent online sportsbooks.
While every pay per head bookie services site aims to offer the same products and services, there are major differences in how this actually gets done.
A1 Price Per Head has been working with bookie agents for more than a decade. During that timeframe, it has built a large business base predicated on one common theme; value-added benefits that positively impact the bottom line.
Understanding The A1 Difference
Features are working aspects of the products and services offered. You really need to focus on benefits when it comes to getting the best value out of the weekly per head fees paid.
- A1 Offers a ‘Complete Solution’
Most PPH services employ generic online sports betting software. They also outsource many of the vital business services that support your daily efforts.
A1’s software solutions are designed, built and maintained by an in-house team of online gambling software experts. The result is a comprehensive bookie software solutions package that is turnkey in its application.
The product is highly sophisticated but ease of use for you as a bookie agent and your entire customer base is always a top priority.
- Sharp Betting Lines
Every PPH service offers betting lines as part of the working software. Once again, this is outsourced to external line setting sources.
Over the years, A1 has developed close business relationships with the top Oddsmaking services in the industry. Combined with in-house sports betting experts, you will always have fast and easy access to the sharpest betting lines possible.
It is your job to set up your own betting board to best meet your business needs. A1 is there to supply all the betting lines you need when you need them. This includes more that 70 different sports on an international level.
- Reliability and Performance
If your PPH service is down and offline, so is your bookie business. If there are security issues processing online transactions, the potential blowback will negatively affect you and your betting customers.
The largest investment A1 makes is in its internal operating system. This guarantees reliable service with zero downtime. Deep levels of security ensure that every daily online transaction is completed in a safe and secure manner.
A1 then backs this up with an in-house customer service team that has experience in the sports betting industry. This adds to the high level of overall business support that is included in your weekly per head fees.
Bookies Can Count on A1 Price Per Head for Business Recovery Support
Most industries have been impacted by the coronavirus since the month of March. With live sports and sporting events still on hold because of this health crisis, the sports betting industry has been heavily impacted as well.
Private bookmakers still account for the lion’s share of the betting revenue generated by wagering on sports. The added edge in customer service and personal attention is still a very attractive feature for today’s sophisticated players looking for the continuous VIP treatment.
However, the lack of steady revenue coming in has taken its toll on business. Things will only get better from here but the private bookie is still faced with formulating an effective recovery plan. If this pertains to your situation, there are three basic options:
- Continue to go it alone without the help of professional bookie services.
This will most likely result in a business failure somewhere down the road. That is if your bookie business is even viable at this point.
- Continue to stick with your current pay per head provider.
This might make sense if they have stepped up their efforts to help you get through this major business downturn. Unfortunately, many PPH services have been unable to provide the necessary level of support to the current bookie agents they serve.
- Turn to A1 Price Per Head bookie services.
For more than a decade, this PPH service has been helping bookie agents just like you run and mange a highly successful private bookie operation.
What Has A1 Done For Their Bookie Agents
A1 bookie services remains extremely confident that their proprietary software solutions coupled with the proper business support can quickly get you back on track. They have been working closely with their bookie agents since the crisis first began.
This added level of support includes expanded access to betting options outside the realm of live sports. This has given private bookies the ability to continually engage their entire customer base with viable betting options.
It is extremely hard to replace the NBA playoffs with e-Sports like NBA 2K 20. NHL betting fans are not all that interested in betting ice hockey games in some obscure Russian league. The main reason to constantly keep your sports betting base engaged anyway possible is to remain top of mind when all the major betting sports return to action.
Along with keeping a customer base engaged, A1 has been able to deliver a pair of viable revenue streams to help the cause. Advanced software solutions for an extended racebook covering horse betting along with playing real money casino games online have been able to help bookies that have fully bought into each of these money-making opportunities.
Any added business generated from A1’s racebook and online casino has been a huge help during the current economic downturn. Moving forward, they can continue to contribute profit to the bottom line even after live sports betting is back on the board.
The biggest benefit A1 has been able to provide bookie agents is professional business support throughout this crisis. They have the necessary team in place to act as that silent business partner with your best interests top of mind. This remains constant no matter what business conditions you may face.
Teaming up with A1 now will pay some major dividends down the road. Recovery is the short-term plan. Making your bookie business more profitable than ever is the end game.
Define Your Bookie Business With A1 Price Per Head
This is the time of the year when private bookies need to define their business goals and objectives. Some part-time bookmakers are only interested in taking bets during football season. Just like ice cream stands in summer, they only want to go after the meat of the sports betting yearly calendar.
Football is big with sports bettors but it is still just a piece of the action (and profit) that can be generated in a multi-billion-dollar industry in the US alone.
There is money to be made on a year-round basis booking sports bets but you need to define the kind of private bookie business you are looking to run and manage. Going full time takes hard work and dedication to your craft. However, given just how lucrative the overall return can be it is well worth the added effort. A big part of the equation is the pay per head bookie services site you decide to work with to achieve that high level of success.
A1 Price Per Head Makes Bookies More Money
The bottom line of running and managing an independent bookmaking business is the bottom-line profit earned. Many of the veteran independent bookies with sub-agents serving a large customer base have already turned to A1 Price Per Head bookie services to run the day-to-day online operational aspect of their business. They know and understand the value this PPH service brings to the table.
From a cost factor, the weekly rate they are paying for a large customer base equates to the same cost ratio you will be paying for your smaller customer base. While there are generous per head fee discounts starting at just 30 players, the value is more about what you actually get for your pay per head fees regardless of the active bettors you have using your bookie services.
This pay per head site’s goal for every one of their bookie agents is the same; making more money. This pertains to the entire 12-month sports betting calendar. It also pertains to money made with an expanded racebook for horse betting and a sophisticated online casino games software application.
Working with A1 bookie services is all about creating and growing multiple revenue streams that equate to profitable income. This expands way past a limited football season.
A1 Price Per Head Puts Benefits Ahead of Features
Too many sales people for any product or service get hung up on features. The end consumer is actually way more concerned with the benefits those features provide.
A1 lists “Instant Account Setup” as one of their many features. What this really translates to is ease of entry when taking your bookie business online. Business support makes the transition to this service seamless.
Online account setup also creates a highly detailed profile for each of your betting customers. These profiles are a strategic aspect of your overall marketing plans. They also provide a ultra-high level of control through established betting and credit limits before the first wager is ever made.
An individual account’s activity is the basis to rollup any number of important real time business analytics that drive your business. Full accounting on an individual basis lets you drill down as deep as you want when it comes to running and managing the entire operation.
Once you decide to define your bookie business as a full-service operation working through a highly professional online presence, A1 Price Per Head fills in all the gaps with features that quickly translate to value-added benefits.
How to Create a Custom Website for Pay Per Head
Online companies offering their products and services exclusively through the internet continue to flourish in light of all the recent advances in e-commerce technology. Just think of the last time you bought something from Amazon. Every single industry across the US and around the world has been impacted by online business applications.
It was not all that long ago when the primary tools of the trade for a private bookmaker consisted of a phone and a paper tablet. Once the big offshore sportsbooks created the online capability to take bets from players in the US, private bookies located anywhere in the world followed suit with the help of a pay per head online sports betting software provider.
The same computer software programs that help offshore books take action online have been adapted to provide the proper online sports betting capabilities to a private bookie running and managing an independent sportsbook.
Competing in an Online Sports Betting Marketplace
Unless you are content with taking action from a small handful of family, friends and other close acquaintances, you need the right business tools to compete against the big commercial online books that will pull out all the stops to attract sports bettors to their million-dollar websites. It does not cost a fortune to create a custom sports betting website that does level the playing field. Having a hand in the creation of your own business website provides the following benefits:
- A truly custom design that does set your business apart from the competition
- An expanded betting board with access to any number of betting options both in the US and around the globe.
- Live in-game sports betting
- An expended Racebook for horse betting
- An online casino complete with slots, video poker and electronic table games. This can also include an application for live-dealer table games
With all of these site features in place, you can market your bookie business as a full-service independent sportsbook with a high level of customer service and personal attention to detail. Best of all, this can be accomplished is a relatively short amount of time with the right pay per head service handling the operational end of the business.
Growing a Bookie Business Online
You can still build a sports betting customer base the old fashioned way though personal contacts and word-of-mouth referrals. Even with today’s highly sophisticated online applications, this is still the best way to get a bookie business off the ground.
Even if you continue to add customers to the fold through a personal network of sports betting fans, you will still need to create and maintain a highly professional online business presence given the way that the majority of sports bets are placed. You might still have a few old-timers that prefer to call in their bets, but today’s sophisticated sports bettors are all about placing real-time bets through an online application. This includes an advanced mobile platform working with all types of handheld devices.
As part of the weekly price per head fee you pay for each of your active betting customers, your pay per head provider can help you accomplish that goal with a custom website specifically designed for your bookie business.
Some of the more basic online sites are nothing more than a generic template with your company name. These basic sites will get the job done from an online betting standpoint. However, they will not help you distinguish your bookie services from everyone else out there taking bets.
The top pay per head bookie software providers in the online sports betting industry have made the proper investments into an IT department that can create, host and maintain a custom website. A custom design tailored to your specific business needs will provide the highly professional business image that does set you apart from the competition.
There may be some added per head cost to achieve this professional image, but it is well worth the investment when you consider how much it would cost to undertake this process on your own. The right custom website will quickly become your best and most important tool for marketing your bookie business. Best of all, it can help you project the proper business image you are looking to convey to both existing and potential sports betting customers.
How to Expand Your Bookmaking Offering
Years ago, most private bookies cut their teeth taking bets on college football games and the NFL. The business would be seasonal from September through the Super Bowl in early February. As sports betting continued to grow in popularity across all segments of society, fans looked to place bets on all the major sports. Along with the expansion of sports betting options came the upgrade in sophisticated sports betting technology to book these bets online.
The pay per head bookie software business model provides the necessary online sports betting software solutions to run and manage your own independent online sportsbook. All you have to pay for this turnkey software package is a low weekly price per head fee for each of your active sports betting customers.
Pay per head bookie software presents a low cost to entry into one of the most lucrative online businesses you can run as a private bookmaker. The product offered by the top PPH services would rival what even the biggest commercial online sportsbooks uses to operate their million-dollar websites.
Building Your Bookie Business
To this day, there are private bookmakers that only take action on football and basketball as the two biggest betting sports. While you may derive quite a bit of your company’s profits for the entire year when these two sports are in season, there are five other months of the year when they are both off the board.
Building and growing a private bookie business that can meet your financial goals both in the short term and over the long haul requires the following three attributes:
- An active sports betting customer base
There are no minimums when it comes to how many active betting customers you need to take your bookie business online with pay per head bookie software. However, you do need to establish a customer base that is large enough to meet any profit projections. Assuming you can maintain a hold percentage above five percent, you would be able to calculate how much generated revenue would be needed.
- An expanded sports betting board that meets customer’s needs
As a private bookie, you never want to run the risk of losing even one customer to an outside betting outlet because they could not find what they were looking for on your betting board. Working closely with your price per head shop, you already have fast and easy access to a wide variety of betting lines and odds. You also have the ability to set and move your own betting lines while making any necessary changes to your betting board.
- The proper online business applications to create multiple revenue streams
Another way a private bookie can expand revenue along with added profit to the bottom line is added revenue streams. You already have the ability to build out your sports betting board with a wide variety of betting options. You can also add a racebook for betting on horses. Access to this added application is part of the PPH service fee you are already paying. You can also expand into online casino gambling with slot machines, video poker and electronic table games. One of the fastest growing trends with this added revenue stream is live-dealer table games.
Build Your Bookie Betting Board
Being a full-service sports bookmaker still comes down to leveling the playing field with the big commercial sportsbooks that go to great lengths to attract sports bettors to their bookmaking services.
Expanding your betting board to meet all of your current customer’s needs is just a starting point. Today’s advanced pay per head software solutions can generate betting lines for over 80 different sports. You can add a full list of futures and prop bets on a sport-by-sport basis as well as for special betting events such as the Majors in professional golf and major stakes races for thoroughbred horses.
You also have easy access to software applications for live in-game betting. There is nothing more exciting than betting on a sporting contest after it has gotten underway. This is also an excellent way to raise the handle for the most popular betting sports.
As a private bookie running and managing your own independent sportsbook, the only limit to expanding your bookmaking offerings is your own creativity when it comes to building out your board.
Boost Your Sports Product
Anyone even remotely familiar with sports betting probably knows that American football and more specifically the NFL is the biggest draw when it comes to the billions of dollars in revenue this industry pulls in on a yearly basis.
What most sports bettors probably do not know is that private bookies account for close to two-thirds of all the sports betting revenue this industry creates in the US alone. Independent sportsbooks that are run and managed by a private bookie continue to drive the lion’s share of the growth in US sports betting even as more and more individual states enter the market with both land-based sportsbooks and online betting sites.
If you are a private bookie running and managing your own sportsbook in what is still a very competitive marketplace, you should always strive to boost your sports product with the help of a quality pay per head online sports betting software provider.
Boost Your Sports Product With Expanded In-Season Betting Options
One of the easiest way to drive betting revenue to increase your sports product is by increasing the betting options for the games. A perfect example of this would be game, team and player props for individual matchups. Considering that the NBA and NHL regular season consists of 82 game ahead of an expanded postseason run spanning two extra months, bringing in some extra action on props for just a few games each week can add up to some serious profit over the course of the entire season.
Once June rolls around, the daily MLB game slate is the only consistent betting action on the board. Baseball is one of the best betting sports for props given just how many possible betting options there are in one single game.
You need to promote prop bets and other betting options within individual games to your entire sports betting base as well as to any prospective betting customers. By making them an integral part of your overall marketing plan, you will be able to maximize the added profit to your operation’s bottom line.
Boost Your Sports Product With Offseason Betting Options
Football is king when it comes to sports betting with the NFL leading the way. No matter how much money you may make during the five months there are actual games on the board, there is still more money to be made during the extended seven month offseason.
Once the upcoming regular season’s official week by week NFL schedule is released and the annual draft is in the books, there are a world of betting opportunities on the board in the form of:
- Expanded NFL futures
- Team and player props
- Betting odds for projected win totals
- NFL Week 1 game lines
You need to work closely with your price per head shop to build out your offseason NFL betting board with everything that is available leading up to summer camps and the start of the NFL preseason schedule in early August. You never want to run the risk of having even one of your sports betting customers turning to a different source to bet on something that was not available on your betting board.
The same concept of expanded offerings holds true for any major sports league during its offseason. While limited in range and scope, there are added betting options for the top two college betting sports (football and basketball) during the offseason as well.
Boost Your Sports Product by Expanding Your Entire Betting Board
If football, basketball, hockey and baseball account for the majority of the action you take in, you are leaving money on the table. While sports such as professional golf and tennis, motor racing, soccer, boxing, MMA fighting and horse racing do not have the wide-scale appeal as the top four major betting sports, they can collectively add up to both increased revenue and overall profit.
At some point during the yearly sports calendar, each of these secondary betting sports is catapulted into the national spotlight. You need to position your bookie business as a one-stop shop for everything going on in the world of sports. Whether it is one of golf’s four Majors, the Daytona 500 in NASCAR or the Kentucky Derby in horse racing, working directly with your pay per head service will help you capitalize on everything else that goes on in the sports betting world during the year.
Tips for a Master Agent: Methods to Grow Your Network
A bookmaking agent will normally take one of two different approaches to running and managing an independent sportsbook. The first is to develop a solid sports betting base of private customers that place all of their bets with you as a sole proprietor of that sportsbook. This has been a proven way to make a very lucrative return in the rapidly expanding sports betting industry.
The other approach to running and managing a private book is by expanding both the scope and reach of your business with the use of sub-agents that work under the umbrella of your bookmaking operation. You, as the business owner, assume the role of Master Agent in charge of the entire operation.
The easiest way to set up a bookie business as a master agent with a network of sub-agents is through a top-line Pay Per Head online sports betting software solutions provider. The bookie software solutions are designed to handle all the intricacies of placing bets online through an expanded network of agents. You will always maintain that high level of control needed to be successful as a master agent while also increasing the bottom-line profit your bookmaking operation brings in.
Proper Planning for Expansion
Once you decide to expand your bookie operation with the help of sub-agents, it is vital that you have a set business plan in place to smoothly handle this transition. The first step is to clearly define your goals over the next few months and over the next few years. Once you know where you want to take your business, you then need to put the proper plans in place to achieve those goals.
You need to keep in mind that growing and expanding any business is a work in progress and all plans are subject to change. However, you need to avoid going into anything new blindly without a clear direction in place.
How to Find the Right Sub-Agents
At the top of the list when it comes to ways to grow your network is the task of finding the right sub-agents. They need to fit into your personal business style while also possessing the ability to grow their piece of the business behind their own style and abilities.
The following is a list of 5 character traits that should be taken into consideration when recruiting a sub-agent for your bookie business:
- Compatible Personality
- Dedicated to Their Craft
If your sub-agent is not dependable to do their job on a regular basis, they will prove to be more of a hindrance than an asset.
You do not have to find sub-agents with an extensive resume in the sports betting industry as long as they are coachable on how to run their piece of the business.
It makes all the sense in the world to work with someone you can get along with. The private bookie business relies heavily on the added level of customer service and attention to detail that the big commercial sportsbooks simply cannot provide. You need sub-agents that can mirror the higher level of service that you already provide.
Once someone does decide to become a sub-agent for your book, they need to be dedicated to both your short-term business goals as well as your long-term business plans.
Finally, you need to find sub-agents that are sincere and honest in their approach to working with their betting customers. If they work for you, they become a direct reflection of your business as a whole.
Where to Find the Right Sub-Agents
The same marketing tactics you employ to grow your sports betting customer base can also be used to find the right sub-agents to expand it. In fact, many of the best sub-agents that got into the bookie business started out as sports betting customers.
Start with your existing customer base when it comes to prospecting for potential sub-agents. Chances are that if someone loves betting on sports, they may jump at the opportunity to work in the sports betting field. Word of mouth referrals are still the best way to grow and expand your bookie business. Whether you are looking for additional customers or sub-agents that can successfully develop their own customer base.
Maximize Your Profits
Any business owner know just how important it is to generate enough profit to meet all the financial needs of their company as well as their financial expectations for an acceptable return on investment. Unfortunately, one of the main reasons why so many businesses fail, is the owner’s inability to meet those profit goals.
As a private bookie running and managing your own independent sportsbook, there are certain steps you can take to maximize the profit you earn on the betting revenue you bring in. A private bookie makes money on the hold percentage. This refers to the money leftover after all the winning bets have been paid and the losing ones with the juice (or commission) have been collected. As a general rule, you should be able to clear at least five percent of the total betting revenue your bookmaking operation takes in.
Working With The Right Pay Per Head Bookie Software Provider
One of the biggest and costliest mistakes a private bookie will make is shopping for an online sports betting software provider on price alone. The general Pay Per Head business model charges a weekly fee for every active betting customer. Included in that price should be all the business tools needed to successfully run and manage an independent sportsbook.
Your PPH service also needs to be safe and secure when it comes to processing all the daily online transactions that are part of booking bets. It also needs a reliable operating system that remains up and running 24 hours a day, every day of the year.
Your price per head shop should also provide all the betting lines you need, when you need them. Fast and sharp lines are the lifeblood of a private bookie business along with the ability to quickly move those lines or change your betting board to stay ahead of the daily action coming in.
The top pay per head sites are also backed with a highly trained customer service team that can work with you as the booking agent as well as with your sports betting customer base. The online sports betting software solutions package should be able to provide real-time business analytics through a variety of online business reports.
If you current PPH service is lacking in any of the features and benefits mentioned above, it is time to find a bookie software solutions provider that can fit the bill.
Online Marketing Plans That Move the Business Dial
Today’s sports betting industry is far more advanced than it was just five years ago. The majority of sports bets are placed through a mobile betting platform with the use of a handheld device. Even most of your older betting cliental has gravitated to the internet to place their bets.
You need a marketing plan that maximizes your online presence to attract the type of sports bettors you choose to do business with. The top price per head shops can help you with this task by creating an online sports betting site that is highly professional in its presentation.
All of your online marketing efforts need to enhance the professionalism of your private book. Your plan does not have to be elaborate, but it does need to be targeted in its approach.
Creating Multiple Streams of Revenue
The easiest way to maximize profits is by increasing the services you provide. In order to build a bookie business than can meet all of your customer’s betting needs, you should offer:
- An extensive sports betting board with a wide variety of sports and sporting events There should also be a wide array of betting options.
- An expanded racebook for horse racing that covers the majority of the tracks in North America as well as major graded events in the UK, Dubai and Japan.
- An online casino application for slots, other video gaming options, electronic table games and access to live-dealer table games.
The ability to market your bookie business as a one-stop shop covering every online gambling option will help to create strong weekly cash flow as well as a strong balance sheet when it comes to your company’s bottom line.
Steps to Build a Business On a Budget
The American Dream is all about owning and running your own business. The majority of the jobs in this country are produced by small business owners that are either self-employed or running a company with the help of a small group of employees.
There are far more business failures than success stories when it comes to forging out on your own. However, that should never be a deterrent if you have a solid plan and follow the proper steps to getting any small business off the ground.
It All Starts With a Plan
It is hard to drive to a new destination without GPS or a map. It is next to impossible to start a new business without a comprehensive plan. At the top of the list is the product or service you plan to sell. A close second is uncovering a viable customer base to buy that product or service. helloyes
If you are planning to be the fourth pizza shop in a town with a very small population, you are probably trying to enter a saturated market. If you are going to be the only person cutting hair in that same town, you should already have a customer base with strong built-in potential. The bottom line to any business plan is finding a strong market need and filling it.
Your business blueprint is essential to not only getting things started, but fueling that early growth with enough market resources to expand the overall customer base. Without customers you do not have a business, just a great idea for one. Without enough customers, you do not have the necessary resources to keep that business viable.
Raising Start-Up Capital
One of the main reasons why so many new businesses fail is the lack of financial capital to weather the early storms every new business owner is bound to face. You need to expect the unexpected when you open any new business and having the ability to handle the bumps in the road with available cash is crucial.
Banks and other financial institutions are more than willing to finance solid business plans. However, they are only going to give you so much rope before you hang yourself. Being leveraged to the hilt before you first open your door for business is a very dangerous way to get any business off the ground.
You still need some cold, hard cash at your disposal to supplement weekly cash flow and your living expenses when things get a bit lean from time to time. This is extremely important if you decide to get involved in a seasonal business with major swings in business traffic.
Growing and Expanding a Customer Base
As mentioned, you really do not have a business without customers and you probably do not have a viable business without some kind of expanded business base. Growing and expanding a customer base is not too tall of a task in you are offering a product or service that is in demand.
The following is a short list of how to increase your customer base:
- Word of Mouth Referrals
- Targeted Advertising
- Professional Online Presence
- Targeted Social Media Applications
The two biggest takeaways from this list are ‘word of mouth’ and ‘targeted’. If you are good at what you make or what you do, you will attract a solid customer base. Having someone else sell your product or service for you because they are happy and satisfied is the quickest and most effective way to grow a business.
Shotgun approaches to reaching potential customers can work in certain instances. However, taking a targeted rifle approach to hitting potential targets is always a much more effective approach to finding the best customers for your business.
Long-Term Business Strategies
Too many businesses get caught up in early success to the point where they take their eye off the prize. A fast start out of the gate is great, but long-team planning is what will make a business financially viable for the long haul.
The main reason that people go into business for themselves is to be their own boss. You need to develop the mindset that your top priority is to be your own boss until you decide to retire. The combination of short-term and long-term planning strategies is the best way to ensure that you get the most out of any business venture.