If you are in the process of starting your own business then it can be tricky getting everything off the ground. Becoming your own boss can be both exhilarating and the most stressful thing you have ever experienced. If you get everything right from the start then you will be met with less hurdles and far more rewards. Check out the article below to find out the major milestones you need to hit to grow a successful business.
Choose A Business Location
When you are starting your own business you will need to decide if you are working solely from home or whether you want a physical business location. There are pros and cons to both of these options so you need to work out which option will work best for you and your company. Depending on which business you choose to run, it can be far more convenient to have all your employees in one place. When the time comes to choose a location, speak to the experts at a local commercial estate agent.
Set Up Your Office Space
If you are having an office location then you will need to set up this location before your employees come to work for you. You don’t want everyone being packed in like sardines so make sure you plan the office layout. If you don’t always need an office space then you could look into hiring a coworking space just for when it is needed. This is quite a popular option for businesses these days as it saves money to put towards other areas.
Hire Your Team
Employees can sometimes be the backbone of your company. The ones keeping it afloat and dealing with customers and clients day in and day out. When it comes to employees and the hiring process you need to ensure you get this right. The last thing you want is for your new business to end up with a high employee churn rate. This happens when employees come and go in quick succession. It means you lose out on money as you will be taking time out to hire new people to work for you. You can avoid a high churn rate if you are a pretty flexible boss and business owner. Don’t make your employees feel like they are stuck in a dead end job, offer them the chance at training packages and promotions.
Invest In Tech
If you want your business to be the best one around then you will need some tech to help you achieve this. Without tech you will be flying blind and trying to do everything manually. Gone are the days of filling in paperwork and filing this away in a cabinet. While this can and does still happen, most things are automated these days. That means you will need laptops or computers featuring the latest software and apps to ensure you excel in the business world. If you don’t want to buy brand new tech due to your budget then you can of course invest in second hand technology. However, do remember that this still needs to be new enough to cope with your demands. If you don’t want your pages to lag and slow down when your employees are using them, get the latest technology you can afford and make sure all the systems are up to date.
Recruit A Legal Advisor
Something else you might need to do is consult a legal advisor, just so you know you have everything in place that you need. You don’t want to get in any legal trouble so ticking the boxes is essential. You will need to sign up for all the insurances to protect you, your company, and your customers.
Manage Costs
Before you start your own business you will need to know how much money you need for everything. To give yourself an idea of the costs involved you could write everything down then round it up to give yourself a bit of extra for emergencies. You may have heard that you can start a business with no money at all, while this is true there are limitations. It only tends to be businesses that have been handed down or ones that are based online that don’t need start-up cash. If you don’t have your figure to hand then you will need to successfully apply for a bank loan. They need to be confident you can make the monthly repayments so fix your credit score first if you need to.
Market Your Company
Marketing is one area of your company that will take the biggest chunk of your budget. You don’t want to scrimp and save on this as marketing is how potential customers and clients find you and learn all about your business. You will need to research different marketing strategies to use, some of the most popular ones include using social media and video marketing. Video marketing will tell your customers who you are and what your business is about. If you don’t know how to go about marketing your businesses then you could work with a marketing agency. They will look at your business and know exactly what it needs to thrive.
Set A Launch Date
Once you have everything in place it is time to set a launch date for your business. This is where you will hold a grand opening and perhaps offer your first customers discounts or freebies. You might want to put on a whole party depending on the type of business you are opening. Launch dates are a great way to meet new clients, customers, and other business owners that you could work with in future. Don’t put pressure on yourself to set a launch date imminently. Make sure you have everything together and ready to go before you do, always give yourself extra wiggle room to play with.
Secure Your Company
There are certain things you need to do when it comes to your business, if you want to keep it safe then you will need to think of the best ways to secure your company. This could be online or in person, depending on which type of business you run. If you have a physical business then investing in CCTV or security officers will be the best thing you can do. If you are trying to keep your online business safe then you will want to protect this with the best cyber security. Make sure you do your research and find the best company for your money. There are also things you can do within your company to give it an extra wall of protection, you can also look after your customers’ privacy and personal details.
Set Up Your Website
Lastly, when your main doors are shut you need somewhere for customers and clients to place orders. It is well known that most online orders are placed between the hours of 7 and 10 in the evening. This is when people are starting to settle down for the evening after a long day in the office. When it comes to launching your website you need to think about who will be using it, you will have customers from all walks of life and abilities. Creating a user friendly website is paramount if you want your business to be a success. Ideally you don’t want customers that have to scroll endlessly through your website, add a search bar to make things easier.
Hopefully this article gives you some ideas and reassurance that you are on the right track to creating a wonderful successful business. If you take your time and don’t rush things then there is less chance of it going wrong.
