Ready To Open A Small Business: What To Do First

Opening up a small business is exciting and rewarding. You also may have heard it’s a whole lot of work. This is true. There are so many things to consider before opening a business and once you give yourself the go-ahead, there are even more things to organize. A good friend of mine recently just opened up a small cafe that doubles as a music venue. I asked him what challenges he faced and what he recommended people try to tackle as quickly as possible.

Staffing

If you need staff, even just one. Start looking for the right candidate straight away. Being that it’s a new business it would be preferable that your prospects have some experience in the industry. The less training and hand holding you need to do from the start the better. Although it might seem convenient and beneficial, be careful when considering hiring a friend. Expectations and relation dynamics can sometimes go south.

Accounting

You may not have the budget to hire someone to do the books for you from the start. There are many good books keeping programs that you can get for free or for a small price. It is critical that you are tracking your expenditures from the very beginning. Keeping a firm eye on where your money is going is of great importance to prepare yourself for the future of your business.

Merchandise

Begin your hunt for a trustworthy, fair priced supplier early. Getting the right amount of overhead to get you started is pretty important for obvious reasons. This covers everything from where you buy your receipt paper to staff Polo Shirts. Much of this can be purchased online. Buying online can set you up with Polo Shirts for your company. Reach out early to find a sales rep you can build a good relationship with.

Location

If you have a physical business your idea for the business and the location should be going hand in hand. Whatever industry you are in where you set up shop and driving your customers to that location is very important. If you don’t already have a location talk it over with friends and other entrepreneurs. The location is so crucial to running a successful business.

Logo

You will want to sit down and design your logo right away. This is the face of everything your business represents and is what people will associate your company with. It’s important to choose a colour that represents your companies ideas and values.