Anyone could agree that deciding to take that first step into the business world on your own can be daunting but exciting. Being your own boss is the dream and ambition of many, but only a small percentage make a huge success of it. There is so much unknown during the first year, and it takes a lot of hard work to get you to where you want to be, and the way you set your business up could be a big indicator of this.
Once you make it through that first year, you may find that you are in a position to take the next step. Working from home will have been good to you i terms of keeping your costs down and making it convenient to work as and when you had the time. But in order to ramp things up a little bit, such as ordering more stock, hiring employees or having the opportunity sell face to face, a business location might be on the cards. But how do you ensure you get your business set up right? Here are some of the things to think about.
The budget you have
One of the first things to consider would be the budget you have. A lease can be an expensive overhead, not to mention the things you need for the premises to function and even staff to run it. Look at your current outgoings and work out what you could afford comfortably on a low trading month. However, do take into account the difference a business location could make to your trading, it could help to increase sales and volume over the upcoming months. Not only do you have to take into account the cost to run a business location, but you also need to think about the other costs involved such as business insurance. To help protect your business for the future. The next obvious thing when it comes to costs has to be staff and people you have working there. It might not be practical to just be the sole person within your business now and if you do want to make a success of it, the time might be right to hire staff.
The business setup needs to have the ideal location for it to be worthwhile. Think about what you really gain from having a business premises. Do you want people to be able to stop by and look at products on display? Like some sort of showroom, for example. Do you want it to be ideally a meeting place where business can be conducted face to face? Or is it just a spot for you to work. The location is vital to ensuring that all your needs are met, you need good visibility to attract the general public, but you may also need privacy if it just turns into being an office.
Hiring the right people
You will need to take some time to think about whether or not you hire staff. But they can be a huge asset to your business as well as a cost to consider. You may only want to start off with small numbers, and grow from that platform. Hiring the right people will be essential, so take time conducting the recruitment process. It should be a decision that you can easily make, and not one that you have instant regret over. Pick people who are qualified and skilled for the job that you are hiring for, but also consider their personality and who they are. Creating the right working environment will be a new responsibility that you will be taking on. So take time to think about the set up of that and make sure you consider others as well as how you feel.
How it functions
A business premises is more than just an office space and storage option for your company. You may be working in there and have people working for you. This is when you need to consider how the location functions, from keeping ti cool to handling all the data and power you use in one hub. That is why it may be worth considering to help, especially when it comes to air conditioning systems and keeping the office cool. With a lot of technology being used on one go, the space could get hot very easily.
The technology you need
You also need to think about the technology you need in to help your new business setup function as it should. Desktop computers maybe, telephones to make those all-important sales calls. It all needs to be taken into account when it comes to signing a lease and the budget you have available. Let’s not forget the initial cost of setup, data systems being installed and also furniture, etc. You might want to invest in things such as small business accounting software to ensure that you can stay on track with the financial side of things. Last of all, what about making it easy for people to pay and buy or order your products and services? Contactless machines or being able to pay by card at least as well as taking cash could be something to consider.
Make it known
Finally, you need to make sure that the audience your business has is well aware of the new step that you are taking. You want people to understand that you are expanding, but if it is a shop or a showroom, you also want people to walk through the door. This is exriging. Take the time to share the new on social media and to your followers and it may also be worth having a special opening event that you can invite people to. This would be an excellent opportunity to gain exposure, so you could consider inviting influencers and other people who may happily share the business to their audience.
Let’s hope this gives you some idea on how you can create the perfect business setup for your next step.