How to grow a successful transportation business: keys to prospering
So you’re about to open a company. One of the 5 million enterprises entering the market each year. Will yours be the one succeeding or the one among the 90% of businesses failing within a year?
There is no universal recipe for entrepreneurial triumph. No estimation of how long does it take to build a successful business, either. There are, however, several factors that can influence your company development positively, no matter if it’s a transportation business or any other type of innovative startup.
Get educated and keep learning
You don’t really need a diploma to become successful. Yet education can make a way of building a successful business easier. It’s just how our brain works — humans need to gather a lot of information from different areas to find the most effective and creative solutions. Almost all of Onde’s successful clients (transportation businesses doing more than 1,000 rides per day) got their university degrees.
Another reason to learn is that education is not only about the process itself. It’s also about networking — many innovative startup owners have found their business partners getting a degree together.
Turns out, people with technical degrees (engineering and programming in particular) are more likely to launch an innovative transportation business than those with humanitarian degrees. Nothing bad about it, but think of this: maybe the industry needs more humanitarian lionhearts to rocket? 😏
Set rocking goals
For any business owner, the main business goal is money. Nothing wrong with it!
But if it’s the only reason to start a company, the business will most probably fail. You need to have more to strive for, you need to think on a larger scale.
For the founders of successful transportation businesses, setting up a company often means improving traffic in their region, fighting a monopoly, giving workplaces to people, even solving environmental problems.
Money simply can’t give enough motivation. Improving the quality of life for others is a much better starting point.
Be proud of your experience
Mark Zuckerberg and other young millionaires are all over social media and our minds. Anyone over 30 and not running a multinational considers themselves a loser.
But how high is the real chance to build a successful business without any experience? It tends to zero, unfortunately — not all of us are Mark Zuckerberg.
Here’s a fun fact: the most prosperous businesses are created by people in their 30’s. It’s not about age, it’s about the experience you gather while you’re in your 20’s.
Many of our clients were drivers before that started their own company or had experience with Uber or Gett. They have a clear vision, they understand clients’ problems, they know the inner workings of the taxi business — and they are ready to go for own innovative ideas.
Try, try better, then try again!
The first try is usually not the best one — and it’s fine!
The key to success in business is making as many attempts as you can. The key to growing a booming innovative transportation company is constantly learning from mistakes.
For Onde’s large customers, ride-hailing is not the first business they set up. The profit of it is that they keep in mind all possible issues that may matter in the course of business development.
Get some no-nonsense marketing
Business owners should be aware of almost all processes going on in their company, and marketing is one of the most important ones.
No need to be a professional marketing manager. Yet you should know about the existing tools of promotion and use them. In our “Learn” section, we have several courses to give you a basic grip on marketing. By the way, Onde growth marketing team is always there to help you.
Know your customer
It’s an essential factor for the survival of your company — and a major key to success in business. All fast-growing taxi businesses can easily describe their clients in a few words, and they know how their users would describe their services. Understanding customers and their needs gives you loads of inspiration for innovative startup ideas, too!
Know your competitors
Analyze all the companies in the market and learn their pros and cons. If you know their problems and disadvantages you can build your benefits around this knowledge.
If Uber’s users complain about a poor experience with impolite drivers, you can provide clients with the best-mannered drivers. If Careem gives their drivers lower rates, you can give your ones higher.
Plan ahead! Longterm!
Even when you’re just starting with a white label taxi app, you should have an idea of how to develop your company. Are there any services missing in the market? Are there any other markets to explore? How far are you willing to go?
“If you don’t grow, you die” — this is a very truthful quote from one of our biggest clients, Tirhal.
Growth is everything, expanding your business is everything. It’s one of the crucial factors of success. It’s never too early to make such plans, you just have to consider them as plans, not getting lost in a dreamy mood or forgetting about the current situation.
At the end… Who cares if you have any of these keys to business success? If you do, you have a few more points for success. But having all of them doesn’t mean you will reach it. And having none of them doesn’t mean you will never be able to build a strong company. All you can do is to start and check. All we can do is to help you during this journey. 🌱