Although there are a lot of opportunities in the field service business, it is important to be aware of the challenges as well. As a small business owner, I like to remind myself of the challenges that can occur so that I can make a strategic plan to combat even the most difficult of challenges. Awareness of what your challenges are is the first step toward making a successful business plan. Awareness of key difficulties can help you find a solution for even the most impossible of challenges.
Here are the 5 major challenges facing the field service industry.
1. Aging equipment
One of the major challenges in the field service industry is that the equipment is costly and depreciates quickly. Equipment is crucial in the field service industry. If your equipment does not operate properly, you won't be as effective or efficient in your work.
Make sure to always to take good care of your equipment so that you can get the most out of your investment. A lot of your equipment should be taken apart and thoroughly cleaned after every use. This will prevent rusting, clogging, and prolong other wear and tear. You should also try to have your equipment inspected and re-serviced at various intervals of its cycle.
2. Unpredictable weather
Unfortunately, this industry is at the mercy of mother nature. If there is an early or late winter, this can have serious implications for field service. For example, if you are focused on landscaping, you will want to begin landscaping in the spring time. But, if the snow continues through April, you could miss out on a whole month of profits.
The best way to approach this issue is to realize that the weather patterns will even themselves out. If the weather allows for a successful season, save some of your profits for a season where the weather is not so kind. If you are smart about your savings, you can even out-smart Mother Nature.
3. Advertising
As a small business, I don't have a lot of money to allocate to advertising. This means that I can't do high cost television or magazine ads. I have to be more creative in my approach to marketing.
With a small budget,it is important to target the right people, so you aren't wasting advertising dollars on people who will never need field service. Once you have a select market, you can target them with fliers and direct mail to teach them more about your company.
Perhaps the most important marketing tool for small business would be the internet. Social media and web design is inexpensive and can be reached by unlimited viewers. Make sure that your website is visually appealing and easy to navigate, and be sure to follow up with social media.
4. Competition
It's good to have a lot of healthy competition. Just like in sports, competition can make you stronger.
Find a way to differentiate yourself from similar businesses. Perhaps you have a unique selling proposition, which no other business can imitate. Perhaps you have unique positioning in the market, meaning that you cater to a segment that nobody else caters to. Once you find what makes your company different, make it known.
5. Daily Tasks
The last major struggle is that field service businesses have a hard time keeping up with their paperwork. Falling behind on billing, estimates, scheduling, etc. can have a snowballing effect on any company. As a small business owner, you can't be everywhere at once. Time spent in the office wastes precious time that you could be training employees, gaining new clients, raising productivity, or making new business connections.
The best way to combat this issue is not to stay up all night working on your daily tasks. Instead you can invest in software such as HindSite, which can do all of this work for you.
If you are struggling with hiring, be sure to download our latest eBook which details how to hire the best employees for your business.
