Most businesses are generated to provide services for a great period of time. However, the previous milestone may not be accomplished by many businesses as some of them fall out of the business cycle in quite a short-term period. Moreover, some of the business end up in huge debts and are forced to liquidity some of their assets or maybe retrench some of their workforces in order to operate efficiently. However, there is a lot that Small Medium Enterprises can learn from the Big Taylor Rental giant not just in terms of management but other business aspects that may be quite beneficial. Some of the common aspects that SMEs may learn from Taylor Rental include:
The need of Diversification of their Business Activities: It’s quite an important aspect if you can operate several micro-businesses of different types under your Small Medium Enterprise Umbrella. This is quite beneficial as cases of losses in one business line may be compensated by profit in the other business line and vice versa. Let’s look at what Taylor Rental does. First, they offer a wide array of rental activities ranging from the renting of chairs, tents, dance floor, lightening, Glassware among many other product categories. By offering a wide range of services, they are able to capture a large number of clients in different sectors and possibly compensate underperforming sectors with performing sectors. This is quite a big factor to consider for Small Medium Enterprises which are mushrooming and have the future intention of conquering the market venture of their specialization.
The Need to Employ Well Qualified and Professional Staff
The type of staff you employ will determine whether you will succeed in your business or not. The staff members are not just employees who receive a monthly salary at the end of the month but they are also a reflection of your personality and other attributes that you propagate in your business. Employees who treat the customer with respect and dignity may encourage more clients to be monthly or probably yearly buyers in your venture and vice versa. At Taylor Rental, the daily staff goals revolve just around Clientele satisfaction. Clients are treated with respect and dignity starting from the time when client checks in their website to place a quote or just possibly view what’s cooking in their website catalog. This is quite an encouraging aspect that may attract more customer. In fact, I was more pleased when I visited the Taylor Rental Website and I was informed that just in case what I need is not envisage in their online catalog, I can contact their support staff or possibly call them and be rest assured that my needs will be best served.
Provide Special Offers to your customers.
I understand that this statement may raise eyebrows among many small medium enterprises. But who said that an offer has to be something enormous. Start by offering special offers on one or two special occasions like of Christmas Eve or any other holiday. This offer may be what you need to keep some set of customers on yearly or decade basis. Taylor rental does provide special offers to its clients in different categories. Firstly, you can a get a discount on your party reservation which is given based on some certain conditions which have to be met prior to the client. For example, you can get a 5%discount on party reservation if. Other types of offers which are offered by Taylor Rental include; A reduction by 10%on all possible table tops and other sale items. A 10 % Waiver of on all refills of their given set amount on all propane tanks among many other coupons which are offered by Taylor Rental. Thus if you are a Small Enterprise owner, you need to devise ways of providing special offers to your clients for a possible future success of your enterprise.
The need to come up with new business idea in unpredictable niches
With an advancement in technology and a rampant adoption of the use of technology by different individuals, globally, we have good research materials possibly from both Secondary and primary sources that we can use to generate new business ideas and leads on different niches. Take an example of the development of Smartphones from the previous Mobile phones, the development of Android software from Microsoft and many other new ideas that have proved to be a profitable venture in the long run. Taylor Rental new ideas have also had a long-lasting impact on their success up to date. The coming up with the new idea of mobile toilets, the opening up of different Taylor rental outlet in different occasions, the renting out of possible equipment which requires a heavy initial capital for individuals on a yearly, weekly, daily and monthly basis are new innovations that have rejuvenated their business day in day out.
The need for Small Medium Enterprises to Use of Technology in the Marketing Niche
The traditional form of marketing has been passed out with time and the adoption of the use of new technology in marketing is growing and gaining stand in the marketing industry. SMEs, need to swing in the right trajectory with the use of technology in marketing. They can enumerate the big Taylor Rental giant by the development of a website to market their products, buying and selling their merchandise on an online platform and further conducting online advertising on social media among many other platforms to market their products. Furthermore, the SMEs may also rent out some business equipment s from other suppliers which they cannot afford to purchase on a cash basis and use them to enhance their business service delivery. Taylor Rental has adapted well to the use and changed to the latest system of technology in marketing. Moreover, the marketing technique in use now is not the same as the one used 20 years ago when they were in developing their business.
In conclusion, Taylor Rental has offered a great level of rental services to a lot of people, industries, and business. Small SMEs have a lead leader to enumerate and excellently prosper in business.