7 Things You Need To Consider Before You Open Your Own Business

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Opening your own business is a huge undertaking and one that comes with a lot of questions.  You need to make a lot of decisions in the process of becoming your own boss.  From hiring your own staff to deciding the order of operations of your business, there are plenty of things to make an executive decision for.  These are all important and some can keep your business running smoothly.  Something as simple as determining when the commissioning step takes place can save you headaches in the future.

Finding an Office Space

First thing’s first: you’re going to need a place to call your headquarters.  These days, with the economy the way it is, it’s not uncommon for a smaller upstart to operate out of the home of the owner.  Depending on what your need is, you may be in the market for a small office space or one with all the bells and whistles that some Fortune 500 companies expect.  Talk to a local commercial realtor and discuss your needs and they should be able to find some places that suit your business.

Hiring Your Staff

The most important aspect of your company may be your staff and hiring the right people can make a huge difference between a successful first year and a disaster.  You’ll also want to decide how many people you need and how many people you can afford.  A careful hiring process can eliminate redundancy and taking the time to vet the candidates can save you time and money in the long run.

Addressing Your IT Needs

Business cannot run without addressing technology needs.  Going beyond the obvious need for computers for your staff, servers, FTP needs, among other things all need to be hammered out.  For example, will you need e-commerce capabilities on your company site?  A dedicated IT service can help hammer out all your technological needs.

Cultivating Relationships with Vendors

To paraphrase an idiom, no business is an island and as such, you’re going to need to create relationships with vendors for a variety of different business needs.  Whether you need to buy wholesale paper products or you need to hire a production company to shoot a commercial, you will need to deal with other companies and a good relationship can help you negotiate deals or it can simply be something that you no longer need to deal with.

Setting Up an Order of Operations

It may sound simple, but having everyone on the same page as to the proper order of operations can be a key step to make sure that everything runs smoothly.  It’s always important to have a clear definition of processes.  This way, you know when the commissioning step or any other step is appropriate.

Deciding on an Environmental Philosophy For Your Company

Nowadays, being environmentally conscious is an important aspect of your company’s profile.  Fewer and fewer people and companies want to do business with a company that does not take measures to minimize their carbon footprint.  Using paper from recycled materials and other considerations can assure that you maintain an environmentally friendly profile.

Figuring Out a Delivery System

Depending on what your business actually does, you need to figure out how you will provide your services to your customers.  If you are a retail business, for example, you will need to decide if you will deliver with your own dedicated delivery system or via a delivery service like FEDEx.  These days, many transactions are done completely in the virtual space and no longer need to ship their services and goods.

Take the time to consider every decision you make for your future business.  That time can save you in the long run.

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Jeremy opened up his own business back in 2001 in San Jose.  Since then, he’s written articles to help small business owners advance their companies.

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This article was submitted by a guest blogger.  Guest blogging provides an avenue to share a variety of different points of view with a broad audience.  It is a good way to share cumulative knowledge as well as introducing readers to a new author.  Learn more about how to become a contributor for Riches Corner.

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