These days we hear all kinds of reasons from all kinds of people (politicians, TV hosts, so called experts on economy, etc) as to why somebody should run a business. Surprisingly enough, none of these people have ever run a business in their lives. And probably not surprisingly at all, the reasons they want us to be running our businesses are everything and anything, from providing jobs to paying taxes, but making money.
The whole purpose of your taxi business is to make you money. That is why it is called "a business." It is not to pay taxes, provide jobs for your employees or even provide transportation to as many people as possible. It is about profits. Sure, you can run your taxi company with a different goal in mind, but don't call it "a business" if that's the case
When you are trying to achieve something, it is important to set the right priorities and keep the final goal in mind. We can only achieve goals we can measure. When we're looking at the taxi business from the money perspective, we are dealing with numbers, because money is a number. When we get to numbers we can measure them and we can track them. Many decisions become quite easy because of that.
For example, if you know for how long your customers stay with your taxi company and how much money they spend with you, you can easily find out how much money you can spend on acquiring such a customer. When you count the number of customers an ad brings you, you can make a decision if the ad was worth the money you've spent on it. It's all about counting and keeping track of how close you are to you goal, be it increasing profits, number of cars, customers or rides. For detailed breakdowns and examples of how to keep track, click here and get a copy of 17 Mistakes You Must Avoid That Can Ruin Your Taxi Business book and 3 best issues of Cab Millionaire Club Letter!