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
Prime Velo Consulting
Prime Velo ConsultingMonday, October 23rd, 2017 at 12:29pm
🚴 SHERIDAN, Wyo. (BRAIN) — Foldaway Solutions LLC, the distributor of Oyama Bicycles, Uniche and BTP Bar Tape, has has hired industry veterans Barry Riemer and Ken DeCesari. Riemer joins as CFP and DeCesari is the new vice president of sales.

Founded by Ken Fagut in 2015, Foldaway Solutions manages sales, marketing and distribution for these brands throughout North America. The company recently launched Oyama Bicycles in the North America at Interbike.

Through his consulting firm, Prime Velo, Riemer also serves as CFO for NYCeWheels (New York) and is an on-call financial consultant for Nikola Pedals and the Los Angeles Bicycle Coalition. He previously held the position of controller for Dahon North America.

FULL ARTICLE: www.bicycleretailer.com/north-america/2017/10/23/barry-riemer-and-ken-decesari-join-foldaway-solutions
Prime Velo Consulting
Prime Velo ConsultingSunday, June 25th, 2017 at 10:14pm
"The increase in e-bike popularity over the past five years has been nothing short of remarkable. In European markets like France and Sweden, sales in 2016 alone jumped between 30% and 40% respectively. That pales in comparison to motorcycle-averse China, which has some 200 million electric bicycles on the road."