Alrighty kids, let’s learn something, or shall we say, revisit a very simple but important concept in running a business. So if you don’t think this relates directly TO you, there might be someone in your circle of influence that you need to pass this message. Fair enough? One of my specialties has been to identify areas of opportunity and determine sources of revenue. So small business owners or really creative idea generators listen up? Whatever your business is … you MUST secure a stable stream of revenue or you will fail. Now, there are exceptions to every rule, such as, a millionaire like a Kardashian can start a company, it can fail and they don’t lose everything and go on unemployment. You can also be a non-profit and you get grants, donations and sponsorships to keep the daily operations going. One of the hardest thing to do in starting a business is acquiring new customers. Hence advertising, word of mouth, social media all have a huge effect on whether people will buy, use and recommend your product or service.
So where am I going with this? Well, take a look around at what products or services are now hard to come by, … such as rental cars. About a year ago after everyone was forced to stay home, some of the supporting industries took a huge dive in customers. No one was traveling and many of the big rental car companies were forced to sell off their inventory at a huge loss or face bankruptcy, which actually happened to a couple of companies. So now that things are somewhat returning to normal, there are no cars to rent. In some places, people are renting the pickup truck from Uhaul as it is cheaper than a rental car. So if you weren’t aware, there is a car sharing app/company that has been around for a little while, but like everything, had a downturn in sales. That company is Turo.com. Now I have never used the company myself, nor do I know of anyone who does, but it comes highly recommended. It is like air B&B, where you rent your property to someone, and it is covered by another insurance company, and you can make money on your car if you aren’t using it. There are actually people who went and bought or leased a new car, and then turn around and put it on Turo as their income. Same concept with the air B&B, … as long as you have customers. So if you are planning a vacation or trip anytime soon, be sure you use this cool website. You can rent anything from a Jeep 4×4 to a brand new corvette. This is especially fun if you are going to be doing a lot of driving on your trip.
And in case you missed it, Colorado was the tragedy of the “Mother’s Day Massacre”, in Colorado Springs where six people were gunned down at a family celebration in a mobile home trailer park. The killer was the boyfriend of one of the victims and died of a self inflicted gun wound. Our hearts, warm thoughts and prayers go out to the surviving family members and friends.