Thinking about opening a telecommunications contractors business? We tell you what you need to know to get started.
(article continues below)
Creating a Business Plan for a Telecommunications Contractors Business
One of the worst mistakes you can make as a new business owner is to not create business plan for your startup telecommunications contractors business.
The key benefit of writing a business plan is that it establishes both a framework and a roadmap for your business. Without it, you'll be flying blind, making decisions that could be detrimental to your telecommunications contractors business's values and long-term goals.
Before you make another business decision and before you start writing a business plan, you need to create a mission statement. From there, it's time to initiate the hard work involved with writing the rest of your telecommunications contractors company's business plan.
Review the Competition
Prior to launching a telecommunications contractors business within your community, it's a smart move to find out how strong the competition is. Try our link below to generate a list of competitors in your area. Complete the form by entering your city, state and zip code to get a list of telecommunications contractors businesses that are close by.
If there's too much competition, it may be wise to consider starting the business in a less competitive marketplace.
Finding a Non-Competitive Business Mentor
After you've evaluated your local competitors, it's a smart move to speak with somebody who is already in the business. Local competitors are not going to give you the time of day, mind you. It'd be crazy for them to teach you the business.
Fortunately, somebody who runs a telecommunications contractors business in a different city will be much more likely to talk with you, once they realize that you are not going to directly compete with them in their community. In fact, they are often very willing to share startup advice with you. If you are persistent, you can find a business mentor who is willing to help you out.
How does one go about finding somebody who runs a telecommunications contractors business outside of your area who is willing to talk?
It's easy. Here's a link you can use to find a mentor outside of your area.
Advantages of a Telecommunications Contractors Business Purchase
On a percentage basis, more entrepreneurs intend to enter telecommunications contractors business ownership through a startup than through a business purchase. However, many new entrepreneurs aren't experienced for the rigors of a startup operation.
There are a lot of factors that need to be considered in buying vs. starting a business. Although startup owners may have greater control over the shape and scope of their companies, they lack the advantage of a proven business model. Along the same lines, it can take years for a startup company to achieve brand recognition while an existing business may already be a trusted name in your target market.
Franchising May Be a Better Way to Go
Recognize that your chances of growing your business greatly improve if you decide to franchise and benefit from the prior work of others and their lessons learned.
Before you get too far along in your plan to open a telecommunications contractors business, you ought to assess whether franchise opportunities in your space might be the right move for you.
The link below gives you access to our franchise directory so you can see if there's a franchise opportunity for you. You might even find something that points you in a completely different direction.
These additional resources regarding starting a business may be of interest to you.
If you currently own a telecommunications contractors business, these resources will come in handy:
If you came here to learn about selling to telecommunications contractors businesses, you're in the wrong place. These resources are more appropriate for you:
If you are still exploring all of your options, please browse our directory of guides below.