If you’re looking at moving into a new business venture that is perhaps a little more niche than the average ‘cafe’ or ‘shop’, then there will be many permutations associated with starting up in an industry less known or less popular than some others. Plenty of industry related businesses that lay within the realms of interiors, manufacturing and factory processing can be a little trickier to break, mostly down to the regulations needed to start up in business. Often you will need hefty insurance and good policies in place for the safety of your workers if they are using machinery that could be classed as dangerous or difficult to manage, manoeuvre etc. Industrial machinery can often also be very expensive so ensuring you have the right finances in place for those will be incredibly important.
So what exactly do you need to look for if you’re looking at a niche industrial business? You will most likely need to begin looking at the types of business plan you need in place first before moving into the next steps. Presenting a good solid business plan with all the necessary finances will look attractive to any banks or investors. Know your figures. Know your niche. Know what you want to do and how you will execute it; as long as you know your plan and you have viable information and knowledge and a good set of skills then investors should come along; however, you may also need to look into the types of machinery and materials you may need.
If you are looking at manufacturing products, do you need machines such as forklifts, conveyor belts, cranes etc and how will these be used? If you are looking at internal manufacturing, such as ABS molding or are you installing electrical appliances, what types of leads and wires will you need. There are plenty of things to look and it is best that you discuss this and make a note of the things you will need as well as the costs involved with this. The rental of your building or the payment of any insurance will also be needed to take into consideration.
The way in which you will market your company will also be vital in terms of how you plan on having the company circulated, how will people know you exist and what type of other industries do you need to target. For example if you make bath tubs, you may need to look at certain sellers that will work on a contract basis with you. Thinking big is fantastic, but you will need to have the written work to back it up. Your location, factory based may not be a huge location, you can work in a more remote location as long as you have the haulage to help you move your products from city to city but it may be good to look at any locations that are not helpful for your business before you start investing time and money.
Ensuring your business is running like clockwork will keep your clients and customers happy and will give you the possibility of securing new business as time goes on and retaining the business you have. It’s important to keep your business well oiled and organised, as this can lead to issues if you are not working to goals and keeping on top of work. There are ways to become much more efficient in the office and this begins with the team you lead, your systems and your ability to troubleshoot when things are not going well. So what is best to look at?
What Isn’t Working?
Before you make major changes you will need to discuss with your team, listening to their issues and worries and see what is going wrong and what can be improved upon. Do you need to upgrade your systems? Is your current database system not efficient enough and if so you can look at data entry outsourcing or other ways in which to better your business. Are your team members unhappy about the current working systems and are there issues with communication, telephone lines, email issues or is there just too much work being piled onto them. All this combined will cause problems with the workforce and getting the jobs done to schedule.
Build A Community
Build up a way to begin to implement a networking source. For example, if your brand is working with the public on a regular basis or if you operate a call centre where customers have your business the first port of call then start to realise that this is important for business. Build community, email marketing, leaflets, getting people involved with offers and having their feedback as this will ultimately help you grow as a company. Explore new avenues with marketing even if this is collaborations, joining and amalgamating with other like minded companies, to bring in new customers and reach new markets, this should be explored and also this shows that you are willing to collaborate and that you are a growing business.
Minimise travel times and costs -having your business local can have so many benefits; it can boost the local economy and in turn bring more business to you, as well as helping your workers. If they do not have to travel far, there will be less issues with traffic, coming to work late and it will be a generally better working environment. Looking at cheaper and smaller locations will also cut down the costs of any office rentals or insurance you have for your business.
So start to look at what isn’t working and fix that the best you can as you move into this exciting new decade for business. Look at your marketing, look at your costs and how to cut them down and how to look at better working systems that are efficient and easy to manage and maintain for all your staff. There is plenty to look forward to when it comes to the future of your business.
Another year, another slew of startup trends. As we approach a new decade, more and more young people are growing increasingly disillusioned with the traditional career path. In order to meet their career goals and prevent their skills from going to waste in a thankless job, more and more people are abandoning their career paths for the path of entrepreneurship. This is an especially pertinent move in the food industry- an industry characterized by long hours, low pay and a thankless (and potentially even hostile) working environment… as anyone who’s seen anything with Gordon Ramsay in it will attest.
Indeed, if you’re thinking of bringing a new food product or business to the market, the stars are currently aligning in your favor. Consumers (especially millennial consumers) are thinking more and more about what they put into their bodies as we grow more and more aware of the dangers of processed foods. Today’s consumers demand a better class of food product. One that’s fresher and more nutritious while also being ethical and sustainable. And they’re not afraid to pay a little extra for a product of real quality.
With that in mind, here are some trips that might be useful to you as you think about how you’ll develop and market your food product.
Keep it real, keep it natural
Welcome to the paradox of the 2020s… consumers today want real food with as little human tampering as possible… but in an age where so many of us are working such long hours to stay afloat in an economy that’s rigged against us, we don’t want (or don’t have time) to cook and prepare it ourselves.
We want something that we can throw in the oven for 20 minutes or heat up in a pan. We want the convenience of the ready meal… but demand a higher standard of the nutrition that we get from it.
As such, your product will depend on the ability to keep everything in it as real and as natural as possible. A list of artificial colors and preservatives that takes up the lion’s share of the ingredients label just won’t cut it in 2020.
Use locally sourced ingredients wherever possible
We’re more educated than ever when it comes to the supply chain of the products we buy. And the fewer degrees of separation between the source of the ingredients and the product itself, the better.
As such, when planning and developing your product, aim to use local ingredients from suppliers whom you know. Suppliers who you know have consistently high standards both in their produce and how they treat their employees. What’s more, when you buy produce from local farms and other suppliers, you incur fewer transportation costs baked into the production cost of every unit. Your products also have a lower carbon footprint baked into production… and green credentials have a great deal of currency in today’s food landscape.
Do right by your suppliers
Needless to say, if you’re developing a food product in today’s market, your ethical focus must be beyond reproach. That means paying living wages to your employees. It means dealing with ethically focused suppliers and it means buying Fairtrade when using ingredients from countries which have been historically exploited by the food industry.
Of course, that doesn’t mean that you shouldn’t also do right by your suppliers closer to home, and Agriculture Lawyers can advise on the legalities of ensuring that all parties are protected in the import export, transportation and production of your goods and the ingredients that make them.
Invest in biodegradable or recyclable packaging
We are in the midst of a packaging crisis on such a huge scale that experts predict that there could be more plastic than fish in our oceans by 2050. With that in mind, you’ll score big with ethically-minded consumers if you use recyclable packaging… or better yet, compostable and plant derived compounds like vegware which offer all the benefits of plastic without the environmental price tag.
Build value in your products
If you make all of the above choices when developing your product, you will have a product of real value on your hands. A product made from great quality ingredients, ethically sourced and expertly prepared to deliver a taste sensation.
As such, don’t be afraid to draw attention to these virtues in your marketing and to charge a price that’s commensurate to the value of the product. Remember, people who want quality will usually be prepared to pay for it.
What’s more, being the cheapest game in town is rarely a formula for being perceived as the best.
No matter what industry your small business is in, there are certain things that you need to do in order to be successful. You want to achieve a good level of profits every year – so it’s essential that you take the suitable steps in order to get this. Often, businesses that are first starting out don’t recognize the importance of the below, instead opting to spend all of their time and efforts on other aspects.
For example, you might underprice your products or services as you want to be competitive within your market. And while this could benefit you initially, it will result in less overall revenue and the opinion that what you’re offering is of a lower quality in comparison to your competitors.
If you’re just starting out within your industry, the below five suggestions could prove to be invaluable. Of course, what you decide to do, will depend on your budget and business model, but they are nonetheless key steps that you can take:
A Killer Website
To help get your small business off the ground, you need a killer website. Nowadays, a website can be the difference between business success and business failure. Often the first thing that consumers will see, it needs to give off a great first impression.
Functional and engaging, it’s worth investing in a website from an outsourced company. Delivering an effective design that suits your small business, it’s the ideal step for those who need a profitable website.
Experienced Employees
In order to succeed, you need a team made up of experienced employees. Each with their own roles, they will help to lead the business towards profitability. Of course, not all small businesses have the initial outlay to hire such professionals – so it’s something that will be done over time.
It’s not something that should ever be ignored – especially if you’re working within a competitive market that you need to stand out from. Spend some time considering the different skills that you require and hire accordingly. The impact that it will have within your business is undeniable and is one of the main priorities for many who are just starting out.
Utilize The Power of Technology
In the modern-day, technology is king. Which is why it’s so important that small businesses take note of the impact that it can have and act on it. From investing in cloud computing to AI and VR, there are many ways that you can bring your business into the 21st Century whilst benefiting it now and in the future.
Nowadays, consumers are always looking for the most convenient and SMART ways of doing things – so it’s worth spending some time looking at the advancements that you can include within your infrastructure.
Engaging Marketing
Small businesses often forget about the impact that marketing and advertising can have on their operations. Or, they spend too much of their initial marketing efforts, going over the budget and damaging their finances in the long term. And while it’s a good idea to market your services or products to a wider audience, you should start by looking for cheaper ways before you start to invest.
You can do this through marketing your offerings locally and through social media. Tracking the impact that they have, you can learn what works and what you need to improve on. Tools such as Google Analytics are also invaluable throughout this stage.
Exceptional Customer Service
No matter what you’re selling, you need to make sure that customer service is at the forefront throughout your business growth. You don’t want to have to contend with bad reviews – especially as a startup that’s looking to impress. Therefore, it’s worth investing in a customer service professional to handle any queries that you’re receiving.
Even though you might initially take on this role, as your business grows, it’s worth hiring someone to directly handle the communication to ensure that the productivity is shared and no customer’s queries are left unanswered.
Running a business is all about getting into good habits. If you commit to certain good habits – regularly – then your business will end up profiting from them.
As the title suggests, we’re going to look at a few things (or good habits) that your business should do every week, at least. These are just a handful of suggestions, there are plenty of other things you could do to help your business each week.
Goals help your business move forward and achieve impressive feats. Ideally, you need to set goals every single week. You should have other business goals, but they’ll look at things from a wider perspective and be more tuned to your long-term ambitions. With weekly goals, you have short-term targets that you hope to achieve.
You’ll find tonnes of short-term or weekly business goals online to help you get started. Clearly, you may need to tweak some of the ideas to suit your specific company. But, a typical example could be a target for sales that week. This gives your team something to aim for and can improve your performance.
Then, you should review your weekly goals. Look at how you’ve performed to see if you’re working efficiently and reaching your targets. This helps you notice where your business might be struggling and how you can improve the situation.
Have a deep clean
Start thinking about your business premises in the same way you’d think of your house. Would you leave your home for weeks on end without a proper cleaning? You wouldn’t. Why? Because it makes your home look messy and unkempt. This is an even bigger issue when it revolves around your business premises!
Ultimately, your place of work should be as clean as possible at all time. It could be worth getting some commercial cleaning services at the end of every day. This ensures that your office always looks neat and professional, maintaining your image. If things get too messy, then your reputation begins to suffer, and you could lose business. A deep clean should be done once a week at least, but it’s worth thinking about daily cleaning services too.
Post on social media
Social media is one of the most critical marketing tools in the modern era. Businesses of all sizes need to have a strong social media presence. There’s a lot to learn about social media marketing, but one simple rule is to post at least once a week on your social channels.
Regular updates keep your followers intrigued, and they help you find new followers and grow your audience. If you don’t post, then people become disinterested, and you don’t really have any way of drawing in new people. Obviously, you should and could post more than once a week. But, this is a good starting point to build from. Check out the video above for some tips on how to post on social media.
Try and get into the habit of doing these three things every week. They might not seem groundbreaking or crazy, but they have a profound effect on the way your business operates.
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