Cash Bike

HOW BICYCLE RETAILERS PROGRAM THEIR DEMISE BEFORE THEIR BUSINESS BEGINS

Just Google “Reasons to Start Your Own Business” and you’ll find a plethora of reasons, all neatly numbered.  One I visited listed 50 reasons.  Among them:

  1. More spare time
  2. You call the shots
  3. Set your own deadlines
  4. Sell how you want to sell
  5. Build a team
  6. Create jobs
  7. Get involved in the community
  8. Have a big office
  9. Work from anywhere
  10. Inspire others

Well, you get it.  Actually, these aren’t reasons to get into business for yourself at all.  These are benefits to be reaped once you’re successful.  There is only one reason to get into business for yourself and you usually won’t find it in these lists.  We’ll get to that.

Bicycle retailers might add a few others:

  1. I love bikes
  2. I know the technology and I know what people want to ride
  3. I’ve been riding my whole life and people have told me I need to get into the business
  4. I know plenty of bike retailers and we can do group activities

That’s right.  The business consists of cycling enthusiasts who want to fill their stores with bikes, take their customers on group rides, become of part of the many bicycle advocacy coalitions, and all that.

When I came into the business nearly 10 years ago, after serving more than 30 years generally in financial accounting and management, I was astonished at the rate of failures within the retailing industry.  Why?  Because their mission and focus was all wrong.

There is only one reason to get into business for yourself.  And, you know what it is but you think it’s impolite to say it or even think it.  TO GET RICH!  TO GET WEALTHY!  You’re risking everything to start your business.  Why?

Resetting your focus, so that every business move you take is preceded by thinking about how that move will help you to get rich, changes everything.

It’s one thing to follow the road to success.  It’s another to know how to get onto the road altogether.

Prime Velo is committed to getting your business there.

-Barry Riemer, Feb 10 2017

1 Comment

  1. Travis Perreira

    Barry – I couldn’t agree more!

    Reply

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Prime Velo Consulting

Headed by a former financial director for an industry leader, Prime Velo Consulting manages all areas of operations including: Starting up the Back Office Accounting for Inventory Collections Accounts Receivable Banking and Cash Management Asset Management Establishing Cost Financial Reporting Tax Planning Business Analysis Systems Training including Quickbooks
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Prime Velo ConsultingThursday, November 22nd, 2018 at 11:22am
[Nov 21, 2018] WASHINGTON, Missouri — LEV Tech, the first center of its kind in the U.S., will provide a number of services for light electric vehicles, including e-bikes, is slated to open next week just outside of St. Louis.

🚲 "There are places dabbling in service, but no one is jumping in to provide all the services and support that dealers and OEMs need in one place. This [e-bike] growth is skyrocketing, and there are more bikes, more motors, more controllers and batteries that could be problematic and need service," said Fagut, CEO of LEV Tech. "We'll also be a battery service center because we feel there is a need as battery warranties expire."

🚲 "Ken Fagut, an industry veteran who spent 25 years as a retailer in upstate New York, several years at BionX and Dahon and currently is CEO and founder of Foldaway Solutions, a distributor for Oyama Bicycles, spearheaded the project. Other stakeholders include Fang Yunzhou of XF Cycle; Evan Ballman, owner of Mac Motor USA; Barry Riemer (Prime Velo Consulting), CFO of Foldaway Solutions; Damon Du, co-owner of Mac Motor Shanghai; Paul Lynch of battery supplier EM3ev; and veteran bicycle engineer Mike Fritz, who sits on the board."

#BicycleRetailer #Biking #EBikes #PrimeVelo #LEVTech
Prime Velo Consulting
Prime Velo ConsultingThursday, April 5th, 2018 at 8:00am
🏙️ New York City to allow pedal-assist e-bikes, bans throttled bikes

"The decision also could open the door to electric sharebikes, both docked and dockless, in New York City. The city is accepting bids to operate dockless shares in limited locations, and several vendors are eager to bring electric share bikes to the city."

[source] http://www.bicycleretailer.com/industry-news/2018/04/03/new-york-city-allow-pedal-assist-e-bikes-bans-throttled-bikes