Updated: Oct 13, 2022
Business startups are founded by one or more entrepreneurs who want to develop a product or service for which they believe there is demand. In the world of junk removal there are many different types of elements that are involved with building a junk removal business. Having the proper guide to answer any question you may have, knowing who your rivals are and knowing who are supporting your vision are very helpful in building a structure for any business. Three elements that need to be assessed are mentors’, competitors, and customers. Each plays important role in the direction of where your business could be heading.
What is a Mentor?
A mentor is an experienced and trusted advisor that gives information and insight on subject, in this matter junk removal. How do you find a mentor? There are many ways you can look for or find a mentor. First, you must understand what a mentor is or isn't. Having expectation that they have all the answer can be the downfall in the relationship. You must be clear about your goals. What are your goals in the mentor relationship? Do you need advice or are you looking for contacts? You must find the right person to mentor you. You must be able to have some type of rapport with them. Also make sure you look for different perspectives about your junk removal business. Don’t assume that you will agree with all the information given. You must be able to reach out and establish a relationship. You need them so it’s important that you initiate the conversation. Not assume that they relationship will be built in one conversation or two. You must be specific about what you want. And finally make it easy for your mentor. You must be able to work around their schedule. The relationship that is built doesn't necessarily mean you have to ask them to be your mentor it should be an organic relationship that happens over a period. Ask them to be your mentor when you feel comfortable that the relationship is working.
Who are your Competitors?
There are several ways to identify who are your competitors, they can be direct, indirect or replacement. A direct competitor or business are those who offer the same junk removal services that you do. For example, if you do junk removal with a pickup truck a direct competitor is another company that does the same junk removal with a pickup truck. An indirect competitor could be a junk removal company that uses dump trucks and not pickup trucks whereas the competitor businesses offer the same junk removal service it's just at a different scale. A replacement competitor is a business is that has some services that are in different categories or types of services then you have. For an example, a moving company that may offer junk removal as a secondary stream of services. Here is a list of some of the ways to compare your competitors:
Price- How close are the pricing?
Quality- What quality of service to they perform?
Customer Service- What are their reviews or customer service relationships?
Convenience- How convenient are they when scheduling?
Who are your Customers?
Your best customers are typically defined as the most profitable customers or the ones that spend the most money with your organization such as repeat customers, family members, or people who only use your company.
Here's what you need to identify some of your ideal customers.
In conclusion, mentors’, competitors, and customers are the framework for any successful junk removal business. Knowing their functions can help you achieve financial success. These three elements can help you to identify any possible strengths, weakness, opportunities, or threats that may arise.