Mind of Money

Have Produce and Make Money

MoneyOrganic is a term that’s been thrown around for decades, but it doesn’t carry its former limits anymore. People now know the benefits of eating better, caring for themselves more, whether they’re gym rats or 9-5 stiffs who’ll take their nutrition anywhere and anytime they can.

That’s good news if you’ve been thinking of starting your own produce business. It’s not even a small niche anymore; you’ll be catering to a large customer base with unlimited potential. And to such noble ends, here are the words you need to hear.

  1. Do the grunt work. Find out which agencies you need to call or visit to get your business started. Know the rules, get the permits, and figure out how you’re going to start the business if you haven’t already.
  2. Grow your own plants or buy them from farmers. A reasonable size of land in the backyard is good if you intend to do the planting and harvesting yourself. It’s easy, and you answer only to yourself. Study your soil, know what produce you can grow there, etc. Or know which traders are willing to do business with you, buy from them, and resell the produce.
  3. Know your customers. You need suppliers, and you have to know them personally so your produce will always be top quality. But you also need to know your customers. You can sell to end-customers; buy or lease a place in the local produce market to do this. Or you can visit local restaurants and other sellers to do business with them.
  4. Take transportation seriously. Your goods are perishable; time is of the essence, and so is the way you deliver your produce. For now you can maybe use your minivan or F-150, but if you’re delivering more to far places, you need a refrigerated truck or a flatbed carrier. You can hire such a vehicle, but if you’re thinking long term, find one you can buy.

These are the basics of starting your own produce business. You have a captive market already, but marketing isn’t such a bad idea, especially if you are in a small town, or if you are in a large town with lots of competition. You’ll learn more through research, experience and time. Have fun planting, harvesting, getting healthy and making money.

December 28, 2015 at 5:05 amMind of Money

Check These 3 Things First Before Deciding to Rent or Buy Construction Equipment

Construction EquipmentRenting versus buying is almost always a never-ending debate for business owners. However, this dilemma could weigh even more if you are talking about buying or renting heavy equipment.

Before you decide whether to buy heavy equipment or continue renting one, here are the three most important aspects of your business that you need to look into:

Financial Situation

While the most obvious, many contractors fail to dig into their financial situation to see what would benefit them more. For instance, those who rent excavators in a long-term dredging project may want to believe that they could save more money from renting than buying the heavy equipment upfront.

However, they fail to realise that when they rent for longer periods of time, the total cost of their rental all throughout the project would be equal to the equipment’s purchase price and cost of ownership, both marked up!

Frequency and Length of the Job

Renting is perfect for short-term projects. For instance, if you seldom need lorry crane services, but need them now in your current, one-time project, then renting would be more economical than buying, recommends wongfong.com.

For a long-term project, however, or you have many more projects on queue that needs a lorry crane, then purchasing one would be more beneficial.

Equipment Management

Renting could be more practical if you have the capacity to maintain the equipment. Is your business equipped with the right facilities to store and manage the heavy equipment? Are you ready to take care of the insurance and other paperwork associated with owning the equipment? If not, then renting could turn out to be a wiser choice.

Deciding whether to rent or to buy depends entirely on your business situation. By objectively assessing your business’ current situation and its needs, you can decide which one would benefit your business more.

May 7, 2015 at 1:28 amMind of Money

Motivation: Finding the Will to Work out Every Single Day

business financeEvery job has its intangibles, the little aspects of the profession that people outside the industry can’t quantify or understand without being in the situation themselves. Training can only do so much in preparing people for such intangibles, but knowing they exist can go a long way in how people deal with them.

For personal training, the biggest intangible is how to motivate their clients to keep coming back to the gym. Training programs such as fitnessU address the concerns about motivation in their courses, and the first thing they teach is the subtle differences between the various types of motivation.

Different Motivations

People often think that the only ‘motivation’ personal trainers think about is how they’ll convince their clients to do one more push-up, or one more pull-up. But, this type of motivation only amounts to around 20% of the job; the greater 80% is convincing people to come back day after day.

Every time a client gets ready to go to the gym, they’re teetering on the edge of relapsing into inactivity. It could be because the grind of the workout is starting to get to them, or external factors could be taking their toll. Regardless of the reason, it’s the trainer’s job to pull them back from that edge for their own good. But how can trainers offset the other factors in their client’s lives in the short time they have together?

Tailor-made Encouragement

There’s no right or wrong way to do this type of motivation, but there are some techniques that are more effective than others. It’s also about getting to know clients on a personal level, and knowing how to use their personality traits to get them to come back. Autonomy, for example, is one workout planning technique that works well with clients who hold management positions in their day jobs. This strategy allows clients to have a greater say in the crafting of the plan, and lets them take ownership of what they’re doing in the gym.

Intangibles are the hardest part of any career, but they’re also the things that make them more than just a job. Once a trainer owns the intangibles, it’ll be hard for any client to resist coming back.

April 1, 2015 at 4:47 pmMind of Money