Starting a business is one thing, keeping it going is quite another. It’s easier than ever these days to break free from the traditional 9-5, become your own boss and live life on your own terms. Filled with heady possibilities, too many entrepreneurs rush in head first then come unstuck when the first rush of excitement dies down.
Steady growth and expansion takes planning. Additional costs, the need for more space (whether for stock or staff), and more complex logistics are all areas where new business owners can flounder.
Build for Flexibility
From the outset, assume success. There’s nothing wrong with starting small (Bill Gates started out as a teenage computer hacker), but if you don’t have a vision of substantial growth, and plan for how you’ll deal with it, you’ll likely miss out on potentially lucrative deals.
Storage is a huge issue for most businesses. If you’re not selling a service, you’re selling a physical product and you need somewhere to keep it. Here’s what to consider when you’re planning stock storage:
Home storage – is fine for small startups with a limited product line. You can take over the spare bedroom, clear space in the garage or commandeer the attic or basement. Drawbacks include access, both for yourself to reach the items you need and for delivery vehicles to the premises.
Safety – Personal safety and stock security need consideration. Awkward staircases, ladders, unsteady shelving or small children all pose safety hazards when you’re storing stock at home. Security can be another headache, with insurance costs rising if you don’t have adequate alarms or anti-theft/burglary systems in place.
Space – You’ll need somewhere to pack and wrap, as well as space for office equipment, sorting and dispatching. It’s not enough to simply have room for boxes or pallets, you also need room to handle and manoeuvre them.
Maximise the Virtual World
Cut down on the physical side of office storage needs by taking every advantage of virtual, cloud storage. Whilst you’ll still need some paper records, the majority of business needs can be safely taken care of online. From accounts to receipts, sales and marketing materials, business communications and even tax records and insurances, can all be filed away and accessed digitally. Print only what’s vital, and leave the rest squirrelled away in secure cloud storage. Phone records and messages are now able to be stored digitally nowadays. When company owners are looking for the best business phone system, it’s a popular choice to have a system that is a unified communications provider, so that everything is in the same ‘cloud’ space when it comes to running the business.
The virtual world extends beyond document storage. As the business grows and the need for staffing grows with it, consider virtual assistants to help with admin. If you need to rethink office facilities, co-working or hotdesking options provide flexible office space without office rental overheads.
Keep Storage Costs Down
Remote storage scares new business owners as it sounds expensive and exclusively for large, established businesses. Warehousing immediately springs to mind, with all the associated long-term contracts, up-front payments, warehouse forklifts, and vast storage areas. Businesses that are starting up may consider leasing out warehouses as an economical option. Also, when it comes to investing in forklifts that are used to lift and transport goods in warehouses, you could look for second-hand vehicles and see this page to find out how refurbished batteries can help you save money while still maintaining almost the same lifespan as a new one. You could also look for other storage alternatives available:
Self Storage – not just for homeowners with one too many possessions, several self storage companies now cater extremely well for business customers. Flexible terms (from just a week) allow upscaling of storage space when it’s needed, and a fast downscale when it’s not. It means small traders can take advantage of seasonal fluctuations without worrying about ongoing costs since they’re only ever paying for what they need. In addition, many small business owners find they can combine storage space with pack and dispatch areas, simplifying processes and reducing handling and traveling times.
Shared Storage – if your needs are bigger, sharing warehouse space could be an option if you know someone in a similar situation. Things to beware of include contractual terms so each understands their level of responsibility and liability, what problems might occur through shared access and how will you divide the space to keep stock separate. Nail the details, though, and it’s a way to expand while minimising costs.
Controlled, flexible, growth is key to business success, and that often means taking advantage of some (relatively) creative storage options. Being aware of the possibilities makes you ready and able to swiftly grasp opportunities as soon as they appear.
