Goldman Sachs Research predicts the market for commercial drones will reach $13 billion between 2016 and 2020. Drones will be used in many industries, including film/TV and construction. You must set goals if you want your drone business to succeed.
These are some goals you might want to set:
1) Get certified.
FAA Part 107 regulations require that you have FAA Small Unmanned Aerial System certification (sUAS) if you are receiving any compensation for flying a drone. Many schools can help you prepare for your test.
2) Establish the business.
Your business affairs must be in order. These include insurance, licensing requirements, and business structure. It is possible to set up the business as an LLC or a corporation. Sole Proprietorship. Talk to a CPA about the type of business structure you require.
3) Systematize operations.
The best thing about a drone business? It doesn’t need to be run by you alone. You can also hire pilots. You must manage it like McDonald’s to achieve this. You must organize all your processes. It will be easier to hire staff if you have systems in place. Even if your business is a single operation, a system can make it easier to hire help.
4) Define success.
Many business owners know me. Many struggles because they don’t know what they want. Because it’s trendy, they try hard to be a successful business owner. It would be easier for them to communicate what they are looking for. Be humble about what success looks like. Instead of thinking about a national drone company, it might be better to start a small business with flexible hours, a roof over your head, and a vacation that allows you to see all the children’s soccer matches.
5) Find customers.
You don’t need customers to run a business. It’s a hobby if you don’t have any customers. I am part of two Facebook groups that are open to small business owners. They are often in the startup phase. They are passionate about their business. They don’t know how to find customers. You must spend time learning how to find customers as a drone business owner. Sometimes, this will involve direct marketing to the end customer. Sometimes it’s about building relationships with connectors, such as roofing contractors who can refer your business for inspections.
Without action, goals are nothing but dreams. While dreams may be beautiful, they do not lead to success. You must track your progress to ensure success. You should also have an accountability partner. An official business partner could be the accountability partner. You can also publicly declare them on Facebook. These goals can be shared on your Facebook wall, but you do not want to post them. You can join the “Choose Yourself” group. Specify them there. If this is still too much publicity, there’s another trick. Register for Evernote. Evernote lets you keep a private journal. You can also keep track of your progress there.
You want to make little progress each week on each goal. You should also ensure you have proper insurance and your certificate. You may be prevented from operating legally.
The drone business revolution is just beginning. It is crucial to be prepared now in order to reap the benefits of this revolution. Get your certification and your business affairs in order before you start building your systems. This will help you get customers and build a business.