With entrepreneurialism trending at the moment, there has never been a more exciting time to branch out on your own, become your own boss (and maybe the boss of others), and set up your own business. But once you have gotten over the initial buzz of making and committing to the big decision of starting your own business, you need to look at the practicalities of setting up and running a successful small business. There are a few steps that you should take to avoid becoming one of the number of new small businesses that don’t make it past their first year of trading.
First Things First
It’s no good having an office, a fancy logo, and business cards if you have no clear and robust business strategy and a solid plan to back it up. Good, thoroughly researched business plans are essential – in fact, when seeking help to raise the capital needed to set up a business, any high street bank will want to see one. Think about Dragon’s Den – it’s unlikely that you’d gain a backer from that lot without a business plan. Without a business plan, you have no business.
Once the business plan is set and finances secured, what next? All businesses have something in common – clients, customers, and patrons, people who buy their goods or services. Any successful business knows who their target audience is and will have a plan for how to market their business to these people. However you choose to do it, be it through your website, social media, word of mouth, printed fliers, or television commercials, you need to start attracting customers to your business, and you need to get started as soon as possible.
You need a place to run your business. It may be that for the first few months you ran the business from your home part time while you kept your day job, which helped keep your business overheads down and provided you with a financial safety net. But when your business requires full-time attention and meeting clients in your front room isn’t really an option any more, it’s time to quit the day job and find office space for your business.
Office space requirements – size, location, and the type of building – will vary greatly depending on the specific needs of the business itself. Yet the office set-up is generally fairly similar for most businesses across the board. All businesses setting up offices need to consider a few things – servers, hardware, software, telecommunications, furniture, and office layout.
Outsourcing Can Help
Business services are also a consideration. After all, offices need to cleaned, and that IT set-up will require support. Furthermore, if you have employees, there are also personnel issues that you may need to outsource, such as payroll. Many operational tasks to maintain your office and manage your business can be outsourced, from accounting to the shredding of your documents. Confidential waste companies like www.shredall.co.uk can pick up the documents and destroy them off-site. This can save the business not only time but also space as there is no need to invest in a shredder. With so many things to consider and manage while setting up your office, outsourcing some of the processes could be your best investment yet.