If
you’re saying, “It’s time to get my computer repair business off
the ground,” then you need to think seriously about contingency plans.
When hearing the phrase contingency planning, many in
the computer repair business and small business IT industry
automatically think of hot spares, off-site business continuity, data
replication, and diesel generators. And sure these are all important
areas for you to work on with your clients. However what about
protecting your new computer repair business from even more certain
non-IT-related business-interruptions?
Contingency plans are absolutely critical for first-year
business success. If you have a contingency plan, you’ll be able to
deal with the curve balls that get thrown at you; because even if you do
great research and plan diligently, you’re going to encounter a
mixture of good and bad surprises.
You don’t want to get caught without a contingency
plan. Positive and negative things will happen, and you need to be able
to weather the ups and downs of your business. The more thought and time
you put into a contingency plan, the more you will be on track for
success and be able to avoid getting derailed as you make the definitive
choice and say, “I am ready to start my computer repair business!”
Now normally this kind of contingency planning is part
of writing a business plan, under the heading of Risks. However since
writing a business plan gets the kind of procrastination typically only
reserved for the elliptical machine you bought for your family room,
that's now serving as a coat rack. Or the vacation home you splurged on
that sits empty 53 weeks a year. It probably makes sense to tackle your
contingency planning right now.
When you create a plan to handle business curve balls,
you need to list out anything you can think of that will negatively
impact or threaten your business. A thorough contingency plan address 15
- 20 reasonable possibilities that could affect your ability to remain
profitable, or even in business and are outside your control. The
following are 4 of the areas that must be included in a solid
contingency plan.
-
Changes in Your Niche. Most computer repair
professionals find great success when they focus on a specific
industry niche and solving its unique IT problems. But what do you
do if your niche dries up or turns out to be unable to support your
business? Think about VARs focusing on real estate as the market
imploded in 2008 ... or solution providers catering to automotive
dealers that are currently on government subsidized life-support.
You need to have an alternative plan of action to roll with the
punches if you can’t find sufficient client projects within your
originally-chosen niche or niches.
-
Labor Market Issues. If you’ve said, “Now’s
the time to start my computer repair business,” you need to think
about who will help you deliver your services to your valued clients
as your company grows. You have to plan for a lack of availability
of contract workers or employees. You need to be able to continue to
provide solutions to your clients, even if you find yourself short
staffed.
-
Comfort Level with Software. What do you do
if you decide to work with a specific type of business that uses a
particular software… but then find out this particular market does
not really need the solutions you provide? You need to be able to
branch out into different target markets if one of your chosen
specialties ends up not being a great profit center. This means you
need to include working with other types of clients in your
contingency plan, which often will mean knowing about more than just
one type of software.
-
Strategic Alliances Between Competitors. While
you need to focus on the concept of “my computer repair business,”
you also need to pay attention to your competitors. How will you
keep your business alive if there are mergers or alliances within
your industry that affect your ability to attract clients? You need
to think about your competitors as you develop a plan for the future
of your business and be prepared when the business climate changes.
In this article we discussed 4 items that should be
included in a contingency plan for your repair business. To learn more
about what you can do when you decide, “I want to start my computer
repair business” to get great, steady, high-paying clients, go sign-up now for the free
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