Money’s tight; hard to come by and harder to hold onto. Here’s the story of a small business owner who completely changed his business model and successfully did what we are all being prompted to do: work smarter, not harder!
Alec rented a car lot with a sales office in a fast, busy, lucrative area of Belfast. His rent was £2000 per month, with business rates and service expenses on top. He needed to sell 3 to 4 car a week to break even and the pressure became intense as the recession took hold. In this high visibility area, he found that many people stopped to browse but very few actually purchased. Another problem, which ate into his diminishing profits, concerned customers returning for services after their warranties expired. It seemed that more and more was expected of him, beyond any contracted agreement. His position became untenable and he shut down.
After a much needed respite, Alec began to consider how he could use his skills and experience to earn money. He re-organised his business model, starting from scratch. Basing his new business at his home, he advertised the retail cars on a well known internet site and traded off unsuitable models. The cars were viewed and collected from his home and sales consultations took place in his garden office. The separate work office in his garden became the focal point for his success. Customers did not have to be dragged through his home, disturbing his wife and young children, but were directed to the sales office through his side access gate. Alec found solace in the professional space and gained a healthy work/life balance.
Alec found that he had very few overheads to cover and needed to sell only 2 to 3 vehicles a month to cover his bills and make a healthy wage. The pressure he had once felt had dissipated and he was no longer bothered by browsing time wasters. He chose his own work hours, rather than the former 7am – 7pm shift. When customers bought from his home, they did not return with out of warranty complaints. It would seem the public have high expectations of a high street presence. Alec was able to accurately calculate and keep all his profit and happily finds himself with more free time.
Studioni support small business owners in simplifying their work, enjoying their lives and propelling their profits.