Timing in business is very important, and I could not agree more. Likewise, I don’t believe an MBA from a top university or Ivy League school is probably worth the paper it’s written on, but I can tell you that many of the other students will go onto to do great things because of their families, and who they are and the opportunities which will automatically be presented to them. It’s a good group of people to know. And I suppose this gets back to that famous quote; “it’s not what you know, but who you know.”
Indeed, there was a popular book back in the 80s titled; “What They Don’t Teach You at Harvard Business School,” and the essence of the book explained that business was about people, not just about shareholder’s equity, quarterly profits, and market share. Yes, those are very important too, but the relationships in business are very powerful, and when you can do business with someone you trust, things run very smoothly and you can do business with a phone call because you know the person on the other side means business, has your interests and their interests in mind, and will help you both move the ball down the field in a synergistic way.
Okay so, none of this is advanced thinking. Now then, what about a simple business, let’s say a service business, and for this example I’d like to use a mobile truck wash. Since timing is as important as the contacts you make in business, I propose you ask yourself a new question; is this a good time in 2012 to get started in your own business? Something simple, as an example perhaps, a mobile fleet truck washing business? Well, let’s look at some of the major factors. Right now newly hired truck drivers for business fleets and over-the-road carriers are up by at least 1000%. That means companies are adding more trucks on the road, therefore more trucks to wash, but luckily still the same amount of competition presently.
It also means these companies will be competing for drivers, and drivers want to drive the nicest trucks, wouldn’t you? And wouldn’t you want to go work for a company that had nice equipment, something that was a pleasure to drive? Of course you would, companies know this, and they also know that the new emissions standards mean that they have to invest in the newer vehicles. Not to mention the price of fuel, and therefore they need vehicles with more efficient engines, better aerodynamics, and less polluting too.
And guess what, all this new equipment needs to be washed by someone, and a mobile truck washing business has the advantage because it doesn’t have the incredible costs that are incurred by a fixed site truck wash, therefore they can charge a lower price, and there is more volume available to them, as customers are eager to sign long-term contracts and agreements for washing. Indeed, I’d like you to consider what I’ve said here today, think about it, and put this type of business on your list of possible companies to start.