Step 4 | Lesson 4.5
Financial services
Receive support from experts to seek, obtain, apply and optimize funds within your UAV business models.
Work with experienced mentors to seek non-dilutive grants and contracts that will enable the successful launch of your drone services business.
Every Flight to the Future lesson has seven segments that take you through a Mind Expanding Journey.
– Introduction
– Presentation
– Concept
– In-depth
– Recap
– Required reading
– Assessment
4.5.1. Introduction
Financial plan of action
Knowing how to raise capital for a business is always a central question for new company owners. While money doesn’t grow on trees, there are a number of different ways to seek funding for your business.
Is your objective to become a business owner who is well respected in the local community, has a nice income and runs their own shop? Or is it to create a larger type of commercial operation?
Sales operations, strategy and analysis are the three key focal points within sales management, entailing the development of a sales force, coordination of sales operations, and implementation of techniques for a commercial drone business to hit and surpass sales targets.
Also, staying tuned in with the industry as it develops and transforms itself is paramount for success in the future and to successfully take advantage of business opportunities as they present themselves to the market.
4.5.2 Presentation
Pursuing capital
In this segment, we will touch upon strategies for pursuing capital, managing assets and keeping your commercial drone business in the green.
A new business owner will find similarities in managing personal and corporate finances. However, there are also many differences, including earning strategies, paying federal and state income taxes, managing expenses and using capital assets.
As seen in an earlier lesson, the Limited Liability Company (LLC) structure offers the best mix of simplicity, tax advantages, and legal protections for small business owners as well as shielding personal assets from the company's assets and operation.
Watch the teaser
4.5.3 Concept
Sales and cash management
In this segment, you’ll gain a general understanding of how to manage sales and cash administration while operating your commercial drone business. In fact, the success of your enterprise relies heavily on how you manage sales and cash assets.
In particular, you’ll learn how sales will be one of your primary sources of revenue and how AD has you covered under the AD Cloud Drone-On-Demand ecosystem.
From a broader perspective, Aquiline’s Drone on Demand ecosystem gives you access to a large customer base and allows you to scale your commercial drone business and service offerings to meet your goals.
Watch the teaser
4.5.4 In-depth
Managing capital resources
Possessing optimal tools
When embarking on an assignment, having the right apparatus is key to delivering reliable results and offering a product that measures up to the customer’s expectations.
The logistics surrounding specific applications targeted by a commercial drone business will drive costs, particularly where specialized equipment is necessary, including the type or number of drones, along with the specific accessories you will need to complete a mission
Regulatory issues
As commercial drone mission profiles grow more complex, more regulations are developed at Federal and local government levels which drive additional costs.
As new requirements and regulations emerge, AD is here to help and keep you informed, ensuring your commercial drone business operations stay up to date.
4.5.5 Recap
Lesson summary
Sales management
Sales management is the process of developing a sales force, coordinating sales operations, and implementing sales techniques that allow a business to hit, and even surpass, its sales targets.
The primary focus of sales management should be to maximize profit for the business, while delivering the best possible value to customers.
Sales analysis and reporting
Reporting is what allows you to understand how your current efforts affect your company’s success, while giving insight into what you can do to improve your efforts.
Successful reporting involves using sales metrics, or quantifiable indicators, that tell you how each aspect of your sales operations is performing and whether you are achieving your targets.
4.5.6 Required reading
Lesson library
Required
– Sales Management Definition, Process, Strategies and Resources
– Cash Management
– Want to make six figures? Try being a drone pilot
– How to succeed with and scale a drone program
– Best drone business ideas for 2021
– Drone market outlook: Industry growth trends, market stats and forecast
For advanced readers
– 28 books every salesperson should read in 2021
4.5.7 Assessment
Lesson quiz
What are the key focal points of a sales management process?
– The sales pipeline, the sales strategy and post sales analysis.
– Developing a sales force, creating a sales pipeline and analyzing results.
– Developing a sales force, coordinating sales operations and implementing techniques.
– Sales operations, strategy and analysis.
Ten multiple choice questions. An 80% score is needed to advance to the next lesson.
