Learn this Uber London Quebec Business Lesson Right Now

Uber just lost its operating license in London. Then, Quebec passed tough new regulations. That caused Uber to announce a cessation of operations starting next month. There are many cities, municipalities, and unions suing Uber. Their claim is the ride-share company isn’t restricted by the same rules as taxis and like services. However, Uber remains popular with the public. It provides a different experience and often for a lower cost. But, it is definitely learning taking on government regulations is no easy task.

4 Helpful Tips for Entering a Regulated Business Industry

You might want to start a business to help people. And, that’s what many others do successfully. Although, if it’s in a heavily or even a moderately regulated industry, you’ll face several extra obstacles than entrepreneurs in different fields. The truth of the matter is, starting a business in any industry presents inherent risks. But, this certainly doesn’t mean it’s impossible.

If you’re building a new social network, creating a tech-enabled food delivery business, or developing an artificial-intelligence translation tool, there aren’t many demanding rules to adhere to. But if your startup deals with issues such as health care, finance, or education, things can be rather more difficult. —MIT Technology Review

It’s actually far from impossible. You just have to be realistic and pragmatic. In fact, you need to take many things into account before you jump into a regulated industry. After all, you’re chances of stumbling or outright failing are undoubtedly higher. That’s okay, if you take it as a challenge, you’ll probably get some worthwhile lessons along the way. Here are four helpful tips for entering a regulated business industry:

  • Conduct extensive research. This should go without stating but sometimes the obvious really needs emphasis. You need to conduct a lot of research before you take step one. Knowledge is power and there’s nothing more damaging than ignorance. As the saying goes, “You don’t know what you don’t know.” And, that’s not a place to start. So, do all the research you can.
  • Talk to people already thriving. Chances are excellent there’s already somebody, somewhere succeeding in that particular industry. Find him or her and personally reach out. Be upfront and honest about your ambitions. If you are respectful and open, they’ll be far more generous with important information.
  • Start very small and scale up slowly. One bit of advice that works quite well in every industry is to start small and scale up incrementally. It’s very risky to jump right in, front-loaded with debt, and hope everything works out. So, start small, test the market, get to know it, and grow little by little.
  • Keep abreast of all pertinent regulations. Regulations don’t necessarily stay the same. The rules can change at any time. Understanding and accepting this is key. Do yourself a huge favor and keep up with those changes so you aren’t taken by surprise.

Have you built a business in a heavily regulated industry? What other advice do you have? Please share your thoughts and experiences by commenting!

Interested in learning more about business? Then just visit Waters Business Consulting Group.

[shareaholic app=”follow_buttons” id=”26833294″]

Like this article?

Share on Facebook
Share on Twitter
Share on Linkdin
Share on Pinterest

Related Posts

Waters Business Consulting Group

5 New Product Rules Every Entrepreneur Should Know

Roughly 250,000 new products launch every year, and the vast majority quietly fail within the first two years. Poor design, bad timing, and mispriced launches are usually to blame. Before you bring your next product to market, here are five rules successful entrepreneurs follow to give it a real shot at survival.

Read More »

How Gomez Tire Grew Revenue 60% While Bracing for Tariff Pressure

.elementor-widget-text-editor{font-family:var( –e-global-typography-text-font-family ), Sans-serif;font-weight:var( –e-global-typography-text-font-weight );color:var( –e-global-color-text );}.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:var( –e-global-color-primary );}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap, .elementor-widget-text-editor.elementor-drop-cap-view-default .elementor-drop-cap{color:var( –e-global-color-primary );border-color:var( –e-global-color-primary );} A Family Tire Business Ready to Scale By 2022, Gomez Tire had outgrown the systems that got it there. Demand was climbing, the shop floor was full, and co-owners Alex and Robert Gomez knew that raw hustle alone wouldn’t get them to their next milestone: a $5.2 million revenue target by 2025. What they needed wasn’t more hours in the day — it was a stronger operational foundation. “Hiring John and his team has been a game changer for our company. Their expertise and guidance over the last year has helped build a stronger foundation for the future growth of our company. They have been extremely helpful in developing practical operation strategies that have been helpful and effective. More importantly, they have provided us clarity on our operations like we’ve never had before.” — Alex and Robert Gomez, Co-Owners, Gomez Tire Growth That Outpaced Its Own Infrastructure Gomez Tire, a Phoenix-area tire and automotive services company, engaged Waters Business Consulting Group in 2022 during a period of rapid growth that was beginning to strain cash flow and operations. The brothers were juggling pricing decisions without full visibility into margins, uncertain about their true break-even point, and stretched thin trying to run day-to-day operations while also thinking strategically about the business’s future. Beyond the numbers, growth was creating people problems. The team needed clearer expectations and more consistent communication, and the company was short a commercial technician just as demand for larger commercial accounts was increasing. On top of it all, tariff-driven cost increases on tires loomed on the horizon, threatening to squeeze margins further unless the company got proactive about inventory and purchasing. Building Structure Around the Growth Waters Business Consulting Group worked with the Gomez brothers to build the financial and operational scaffolding their growth demanded. That started with a rigorous look at historical financials and the construction of forecast models that gave the owners, for the first time, real predictability around revenue and cash flow. From there, the engagement expanded into nearly every corner of the business: defining position descriptions and performance metrics so accountability wasn’t a guessing game, instituting regular team meetings to reinforce standards, and mapping out staffing needs — including the long-sought commercial technician — to match the pace of growth. On the inventory side, WBCG helped the team think proactively about tariff exposure, guiding decisions to sell down existing stock and plan inbound containers strategically rather than reactively. The consulting relationship also touched harder, more personal decisions. WBCG helped facilitate family conversations about roles and accountability, evaluated whether a satellite location was still financially justified, and analyzed the financial case for a move into a larger facility — one with the warehouse and shop space to support the business the Gomez brothers were building. The Results: Real Growth, Real Margins The numbers tell the story. From 2020 to 2022, Gomez Tire’s revenue grew roughly 36% while gross profit jumped about 63%, a sign that the business wasn’t just getting bigger — it was getting healthier. That momentum continued: by 2022 the business was generating $2.50 million in revenue and $914,000 in gross profit at a margin near 36%. Two years later, in 2024, revenue had climbed past $4.0 million and gross profit had grown to roughly $1.7 million, including nearly 30% year-over-year growth from 2023 to 2024 alone. Along the way, the team closed an underperforming satellite location to sharpen focus on central operations, captured an $80,000 tire order through a national vendor relationship, and rolled out a new operations app to modernize day-to-day workflows. Just as importantly, the Gomez brothers now have a financial model that tells them where the business stands — and where it’s headed — instead of navigating growth by instinct alone. Ready to Build Your Own Growth Plan? Rapid growth can feel like a good problem to have — until it strains your cash flow, your team, and your sanity. If your business is scaling faster than your systems can support, a fresh set of eyes can help you build the structure to grow profitably and sustainably. Contact Waters Business Consulting Group to schedule a free consultation.

Read More »
Teacher illustration

The Most Important Lesson Wernher von Braun Taught Small Business Owners

Solutions to common problems aren’t always self-evident. Sometimes, the answers lie in unusual places. For instance, one contradiction, known in artificial intelligence and robotics circles, states that machines can easily perform very complex calculations quickly, but cannot perform everyday functions that even small children can do effortlessly. This incongruity can actually help small business owners improve their operations and increase their profits. Read on to learn how.

Read More »

Imagine Selling Your Business…

How Would Your Life Change?

You didn’t start your business just to stay busy—you built it to create freedom, security, and options for yourself and your family. Selling your business can be life-changing, but the real question is whether you’re intentionally building toward that outcome or simply leaving it to chance.

Sign up below for a free consultative session to learn what your business could be worth today and in the future! 

Thank you for your interest in learning what your business is worth. We will be in touch shortly.