According to the Bureau of Labor Statistics, entrepreneurs start hundreds of thousands of new businesses every year. And they start them for good reasons. Owning a business provides benefits that are not available to individuals working as employees of other companies in traditional jobs. If part of your New Year's Resolutions include starting your own business, it would be difficult to go wrong with starting a GPS tracking company. There are many good reasons to start a GPS tracking business. Here are just a few:
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One of the benefits of running a GPS tracking business is that you get to sign up clients who will pay you monthly for the lifetime of your business relationship. However, they will not pay you forever just because they sign up with you. Earning the business of a customer long-term requires you to establish a good relationship and clear value at the beginning.
You first have to establish the relationship with your prospects to turn them into clients. They have to trust that your company is the right one for them to do business with for their vehicle tracking needs. But you are not finished once you get a prospect to agree to the benefits of GPS tracking. You're not finished once you turn that prospect into a client by getting him to agree to install tracking devices on his fleet and subscribe to the tracking services. Prior to the launch, your client has only been able to judge what your business can offer based on what you and your references say. When it comes time to deployment, you can solidify your relationship and demonstrate the real value of the services you provide.
A successful deployment is about a lot more than just installing hardware on vehicles and configuring the software. To help your clients make the most of their investment--and to ensure they continue to invest with you--it is critical that they start using the system to make their operations more efficient. This is possible because a GPS tracking business can be so much more than just a hardware and software vendor. Deployment is by far the most challenging thing fleet managers face when trying to get their organizations to start using GPS tracking to improve operations.
Also, a failed or half-hearted deployment is not going to inspire your clients to renew their subscriptions at the end of their contract. To ensure they will renew when the time comes, you have to make sure the GPS tracking services you provide become something they use and depend on every day. Fleet managers can be ruthless about cutting costs. If they look at your renewal contract and don't see that it is making them money, it will get cut. On the other hand, if they see the renewal contract and realize that it is something that saves money every month by making the fleet more efficient, then they will renew with little hesitation.
To ensure a successful deployment of the GPS tracking services you provide, work with your clients to lay out a post-deployment plan with specific 30, 60, and 90 day goals. There ought to be specific performance targets your clients should be looking to achieve. They should spend the first 30 days creating ideal benchmarks of various operations like MPG per vehicle, average response time, average daily idle time per vehicle, service calls per day by employee, etc.
During the next 30 days, you can help your client comb through the data available and set priorities of what areas they want to focus on improving. This is also the time to start putting into place new policies and performance goals for the drivers in the fleet. For example, if your client discovers they are wasting a lot of fuel due to vehicles idling, they could set a goal of having vehicles idle for no more than one hour per day. They could then use the GPS tracking system to see which drivers are hitting the goal and which are falling short. For this stage, focus is important. Your clients will not be successful with the GPS tracking system if they try to improve in every area at once. Instead, you should encourage them to focus their attention on improving a few key areas each month.
During the third 30 day period, encourage your clients to review their results, evaluate their progress, and settle on a few additional areas where they want to improve their fleet's efficiency.
If you're thinking about starting a GPS tracking business, you need a technology partner that will help support you and your clients through the launch and implementation process. To learn more about how Position Logic can help you launch and grow your own GPS tracking business, sign up today to receive a free demo of the platform.
Your clients will want to use their GPS tracking system to improve their fleet's performance and to reduce wasted time and money. The mapping and routing features help get drivers from stop to stop faster and more efficiently. This can lower costs by helping to reduce overtime. Your client's customers will also appreciate drivers showing up on time and within a smaller scheduling window.
There are many steps you'll have to take to move your prospects down the sales funnel from unaware to active client. For many business owners, closing deals can be one of the most stressful parts of the sales process. And this is true for both the seller and buyer. Therefore you should be looking to develop the closing techniques that work for you and your business as well as finding out how to put your prospects at ease, so they can confidently invest in the services you offer.
GPS tracking is a useful tool for dispatchers in the office to use to assign drivers the most efficient routes and schedules. The features available on mobile devices can help your clients' drivers find their way to their destinations using the most efficient route possible. GPS tracking is also lets management keep track of drivers and other employees who do most of their work outside of the office--letting them keep an eye on things even when they can't be physically present.