Bruce Outridge

Is Your Business Keeping up with the Competition?

Posted on December 2, 2011 by Bruce

Many small business owners often start their businesses as a way of helping out someone else. They do a good job and get referred to another person needing assistance. This goes on and on and some businesses have been lucky enough to never have to market themselves or advertise. In past years this was certainly the way to go and your customer base would be very strong, localized, and loyal. However the evolution of technology has changed all that and the businesses that have not kept up with new marketing efforts are finding their client pools starting to dry up. I am seeing this much more and the businesses that are having trouble in this area have not had to market for a very long time. You always need to be marketing even when things are busy and you always have to be keeping up with the way people are looking for products and services.

Lets look at a bookkeeping business, for years your client down the street has been delivering their receipts for you on a regular basis, no questions asked, they have been a good loyal client. One day there is an internal change in management, they decide to assess their vendors and start looking on the internet for providers. They find three providers on the internet, one of which is not you because you don’t have a website, and ask for proposals. They receive the proposals and before you know it have switched providers and you have lost a client. As younger people come into the workforce they don’t understand or care that a company has been dealing with one business for a long time, many times it is about the numbers and not loyalty because they don’t have that original connection. It is extremely important to keep up with changing marketing possibilities.

I tell new business owners that the first thing they should have is a plan for their business, both operating and marketing, business cards, and a website. Once you have that you can start to expand your marketing efforts to target your ideal audience. If you are looking into a service provider for your marketing it is important to work with someone that understands your business. Don’t get left behind because you were too busy to market your company on an ongoing basis.

About the Author

Bruce Outridge is a business and leadership consultant from Canada. More information can be found on his services on his website at www.outridge.ca

Do You Understand Your Company Income Statement?

Posted on November 24, 2011 by Bruce

Have you Let Your Business Become Complacent?

Posted on November 17, 2011 by Bruce

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I love being in business for myself. Everyone that knows me knows that I like being in some control of my destiny, not saying it is easy but at least is built on effort. I like enjoy the process of dreaming of new possible heights that could be reached with future success. There is also the element of failure that comes with any venture and if not taken seriously will bring a business to a grounding halt. I am a firm believer in the “What if” theory that if you put in the effort the success will follow. For the most part that theory remains true as long as the idea was sound to begin with and the advice received along the way was accurate. So my advice to new entrepreneurs is to usually go for it!

So what makes a business move forward and become successful? Hard work is one but when you start a business you will be in growth mode for a long time. If you are like me or some of my colleagues then you may be in growth mode your whole career and that is a good thing. Complacency can kill any job, business, or corporation. It can affect levels from top to bottom and turn a corporate culture on its head, so how do you change the focus from complacency to growth.

First try to think of the excitement level that got you into business to begin with. Remember when you started and couldn’t sleep because you were too excited. You need to get back to that by taking a good hard look at your business. That includes your goals for the next year as well as your operation. What can be improved in your operation to make it operate more efficiently? What has become the operational standard that should not happen at all? I recently spoke with a client of mine about his business as an Owner Operator, he was having trouble getting the income he required due to downtime and scheduling by the company. He has two choices to solve that problem, he can accept the time management issue as a way of life and not do anything about it, or he can make an appointment with management of the company to try and rectify the situation. With equipment, money, and time invested the latter option would be preferred in my book. Many business owners just accept it as the way of life however and don’t do anything as it eats away at their bottom line.

The point is that the success of your business is your responsibility as a business owner. If something isn’t working it is up to you to find a solution. Always keep in growth mode and look to improve your business situation. Your success depends on it!

About the Author

Bruce Outridge is a business and leadership consultant from Southern Ontario Canada. He helps Owner Operators and entrepreneurs run successful businesses. To learn more information please visit his website at www.outridge.ca

At What Time Do You Ask for Help?

Posted on November 2, 2011 by Bruce

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We are men, raw raw!!!! Sometimes we are too proud to ask for help, for those of you that are married you probably hear this all too often. “Why didn’t you stop and ask for directions, why didn’t you ask the sales clerk?”You know what I’m talking about! Unfortunately there is an air of truth to the fact that we do have a high pride level and don’t ask for help as much as we should. Women are much better at knowing when they have to start asking for help on certain things and when they have it covered. The truth is that in business if you take too long to ask for help you may be out of business. Business has an unforgiving way of making you swallow your pride in a hurry if you plan on being successful. Too long in a bad area and your business will be unable to catch up and have to default to bankruptcy. So how do you know when things are too tough to carry on by yourself and when you should start looking for help with your operation?

First the best way to start is to start correctly. We all could use a helping hand when starting out, especially in the accounting department. It is very important to make sure the accounting part of your business is set up properly and for growth. There are certain tax codes used in the accounting world that are universal and important for you to have located in the right place. This will help your accountant down the road to make sure you’re getting the best tax advice for your business. Realize what you can do yourself and what you should have other people do. Now this area is very gray and I have seen much money spent on stuff that wasn’t required. Let’s take a look at your bookkeeping for example, you could do it yourself but that would take time away from your family, you would require a bookkeeping background, training, and so on. If you don’t have that then you are best to hire a bookkeeper and focus on other ways of running your business. That being said I am a firm believer that you have KNOWLEDGE of the different aspects of your business. So in the bookkeeping example understanding what is required for receipts, how to organize them, is essential for you to know and will immensely help your bookkeeper therefore saving you cash flow. If you are having trouble with your bills, can’t seem to make a profit, or are having trouble getting your business organized then you may be at a point where you should bring in some outside help.

Don’t wait for your business to go down the tubes to realize you should have asked for help.

About the Author

Bruce Outridge is a business and leadership consultant. His OS Program helps owner operators and entrepreneurs run successful businesses. To learn more about the program please visit his website at www.outridge.ca

Securing a Job by Being the Boss

Posted on October 27, 2011 by Bruce

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In my talks with many owner operators and potential candidates I come across many that want to be in the trucking industry, but don’t believe they can take the larger step to the path of Owner Operator. The reason for this is that many candidates for the industry focus solely on the negatives of the industry and not the positives. Being an Owner Operator in the transportation industry is one of the businesses that as long as you show up and of course the company that you are leased on with has the freight available, you have an income stream. Think about this as many traditional businesses you have a marketing program and possibly a sales force, the owner has to go out and get clients and continually be in marketing mode. As an Owner Operator you don’t have to do any of that, you just have to be available for work. No marketing, juts turn the miles. The biggest part of being an Owner Operator is controlling costs, but every business owner has that problem regardless of industry sector. So lets look at the positives of becoming an owner operator.

Income is available, this will depend on your market, but most companies are busy. You can create profits by building equity in your business through proper cost management. You know what equipment you will be driving day in and day out. You are your own boss and can create a legacy depending on the operation of your business. The business can be fairly inexpensive to enter compared to other businesses. You can see the country with no boss looking over your shoulder. The business can be passed down to other members of the family creating a family bond. So as you can see there are many advantages to becoming an Owner Operator or a driver. When evaluating the industry do it fairly and objectively and you will find it to be something that you can count on for years to come.

About the Author

Bruce Outridge is a business and leadership consultant for the transportation industry. More information can be found on his website at www.outridge.ca