web analytics
logo
Insights on money, career and trading

7 Things to Consider When Starting a New Business

Posted on January 6, 2015 by Daniel at 5:23 pm

cropped-images-1.jpgHave you worked for a number of years now as part of the rat race? Decided you no longer want to be constrained by the regular 9-5 office working rules? Well, you are not alone my friend!

I spent most of my 20s following this pattern of day-to-day working life, just going through the motions, and grabbing a few beers with my mates in the evening. However, I never really felt any fulfillment from the work I was doing, and I often missed out on fun things, and events with my mates and family due to meetings overrunning or deadlines that needed to be met.

So, I decided to take a risk and go out on my own; I decided to start my own business, and I firmly believe this is something anyone can do too. Here I am going to give you a few suggestions of the things you need to consider if you decide you want to get out of the rat race and make it on your own.

1. What Do You Want To Do?

There is no point in going out on your own if you end up doing something you’re not interested in or do not enjoy. You may as well continue with your day-to-day job and get someone else to worry about the details. Sit down and brainstorm your strengths, weaknesses, and interests. Also, chat with your mates, and have one of those ‘If you could see me doing anything’ conversations. You would be amazed at the ideas your friends have.

2. Is There A Gap In The Market?

Next, I would recommend doing some research into the areas you have outlined. It may be that the market is saturated with one particular thing. Find the niche, the gap that no one has tapped into yet, and find out as much as you can about how this market works. I know it is tempting to have a great idea and leap on both feet first, but this may not be the best strategy. If every Tom, Dick, and Harry is doing the same.

3. Create Your Own Website

images 4

Even if you are not that tech literate in today’s market, no matter what you choose to do it is undisputed that the internet is the way to go, In terms of promoting your business, setting up your own website is a lot easier than you think. For extra help, or if you’re unsure, use WordPress or Wix

4. Pallet Racking Solutions

So you have decided that you want to sell something as part of your business. Let’s face it, the last thing you want is to turn your home into a storage facility. Your girlfriend, wife, or future girlfriend is not going to want to be clambering over boxes all over the place. You’re going to need somewhere to store your product. That means you’ll need a warehouse. You can either lease one or buy one, depending on your needs and finances.

Once you have invested in a warehouse, it’s crucial to organize it effectively. You wouldn’t want to rummage through your products every time something needs shipping; plus, an unorganized warehouse means you won’t be able to keep track of your inventory, leading to inefficient business processes. Thankfully, solutions exist to help with organizing your facility, such as Warehouse Labels. These labels are versatile and can be easily moved, making them ideal for dynamic inventory systems.

Additionally, investing in pallet racks and more shelving units is a wise choice. Pallet racks help maximize vertical storage space, allowing you to store more products in an organized manner. Shelving units, on the other hand, provide easy access to smaller items and can be customized to fit your specific needs.

Note: I definitely recommend Warehouse Storage Solutions as a good place to start having used them for some time now.

5. Comfort in Your Work Environment

image 6

Let’s face it – leaving a comfortable job in a well-maintained office environment for a cramped and unpleasant workspace isn’t ideal, whether you’re working alone or have a team to consider. The space where you work significantly impacts your productivity and overall work ethic. It’s, therefore, essential to prioritize certain factors to create a conducive work environment.

Firstly, proper workstations are crucial. Each individual should have adequate space to work comfortably, with ergonomic furniture that supports good posture and reduces strain.

Secondly, adequate lighting is essential. Natural light is preferred where possible, as it promotes alertness and well-being. Supplemental lighting should be adjustable to avoid glare and provide adequate illumination for tasks.

Lastly, cleanliness is non-negotiable. A clean workspace not only enhances the aesthetic appeal but also contributes to a healthier environment. Regular cleaning and maintenance, including thorough sanitization, are essential to prevent the spread of germs and create a pleasant atmosphere for work. Thankfully, this can be achieved by opting for commercial cleaning services in Ottawa, ON, or its equivalent in other locations.

Put simply, by providing these basic amenities, you can not only support the well-being and productivity of your employees but also demonstrate a commitment to their comfort and satisfaction in the workplace.

Note: Office depot provides solutions to enable you to create a good work environment.

6. Email Marketing

As with the internet, a perfect way to get your produce or service out there is to use email marketing. I know you’re thinking about all that spam that comes into your inbox that you simply delete. Annoying as it is, you would not be receiving so much spam unless companies all over the world believe this method works. For all the thousands of people who delete the messages, there will be those who read the email and consider it. If you want to get your business out to a large demographic, email marketing is a cheap and effective way to do this. You could do it yourself but Mail chimp is a great service that not only ensures a wide market audience is reached but also makes sure you stay within the rules. Rules such as numbers to consider when email marketing.

7. Social Media

Last but by no means least, is the use of social media. The power of Facebook and Twitter are immeasurable and – even better – free! People spend hours online finding, and checking tweets and Facebook news feeds. You definitely want a piece of that if you’re starting a new business.

It is true that setting up on your own is not an extremely cheap option, but with a lot of planning at the start, you will save yourself hundreds of dollars along the way. There is nothing worse than starting out, and then finding you have to keep changing everything. The cost of poor planning will mount up. Plan thoroughly at the start, research your options when it comes to storage, office space, and marketing, and TAKE THE PLUNGE!

comment1

logo
Insights on money, career and trading