Out of the many business opportunities you encountered in the past, you somehow decided to invest in a drone photography business. And why not? The industry is bursting to the seams. Everywhere you go, people are studying how to fly a drone and how to make their photographs more Instagram-worthy. You have the passion for it, so why wouldn’t you put all your time, money, and resources into this business?
Running this kind of business, however, is not a walk in the park. There is so much that needs to be done and there is more about the business side of things than meets the eye.
On dealing with hardheaded employees
One of the things you have to deal with is your employees. What do they want? How can you motivate them? Are they loyal to the company? You cannot expect loyalty, just as you cannot expect your employees to invest everything they have into their jobs.
They are loyal only to themselves and what they need (at first). It is up to you to earn the trust and the respect by showing them that the company works to make sure they are provided, too, and that you care about them as people (and not merely as your workers).
On dealing with demanding and unreasonable clients
You would have to deal a lot with unreasonable clients. Over the years, that’s exactly what we learned about running a business. There will be nice clients; clients who are willing to listen to you and who cares enough to even bring you a sandwich and coffee while you’re working on his project.
Then, there are the complete opposites. Clients who are so unreasonable and so demanding you almost wished they went to another company. But that’s your job as the owner or the manager… you have to somehow deal with the not-so-pleasant side of the business.
On managing finances, schedules, and investments
Aside from hiring employees and managing clients, you also have to fix your finances and your investments. Every decision you make will impact your employees. They depend on the company to feed their families, so it is up to you to make sure that they have a company to work for the next day, the next week, the next years. No matter how big your company has become, one bad move, financially, could bring you to your knees.
On marketing products and services
You also have to focus on marketing and promoting your business, your products, and your services. You need to invest in methods that would boost the awareness about your brand. Without a sound marketing strategy, your business is doomed from the start and you will never get off your feet.