Starting your own business can be an exciting and stressful time. Whether you plan on opening up a taco food truck or a music-licensing company, there are many things that you must do to prepare for the adventure ahead. From picking out the best breakroom supplies for your employees to coaching your staff on best practices, you’ve likely got a lot on your plate. In this blog, we’re going to discuss some top small business tips for new entrepreneurs, so you can get your business off the ground in no time.
At Perkaroma, we believe that your office space doesn’t have to feel like work all the time. We take pride in helping business owners make their office space more enjoyable, so their employees are happy and efficient all day long. We offer unique programs, such as automatic restocking of your breakroom and office supplies, along with managed services to help streamline your operations. As a family owned business for over 50 years, our friendly staff is dedicated to treating each and every one of our clients like family. To learn more about our programs or unique selection of office supplies, contact our team today.
Business Tip #1: Know Your Customer
If you want to start your small business off on the right foot, we strongly advise you to take the time to get to know your customer. According to Lee Lambert, the director of the Alameda County SBDC in Oakland, California, “To succeed as an entrepreneur, you must know your customer and what they want; it’s the key to success. Spend time doing some grassroots marketing, and go out to talk to your customers before you start the business, and continuously solicit their feedback after that,” he suggests, “Doing this will help you build stronger, longer-lasting customer relationships.”
As you start your market research, make sure you take some time to analyze other competitors in your industry. If you’re opening an eco-friendly dry cleaning services, do some searches on other dry cleaning companies in your area. Are they offering the same services and promotions at a similar price? What differentiates you from your competition? According to Tamela Darnell, a management consultant for the Kentucky Small Business Development Center, “Many entrepreneurs think they don’t have any competitors and that is not the case,” she says. “You have direct and indirect competitors.”
While some small business owners will launch their company with a distinct vision and niche in mind, the path to success is not always clear.
Business Tip #2: Protect Yourself and Your Business
For entrepreneurs who are just starting out, they may start their company as a sole proprietorship or partnership. While these kinds of businesses are relatively easy to form, they tend to expose their owners to liability for business debts and judgements. This means that creditors and judgement holds can come after the business owners’ personal assets. This may include dipping into things like their savings accounts when the business’ money has been depleted.
While investing in insurance is a great way to reduce this liability to an extent, it may be worth considering if a better option for your business is to form a corporation or a limited liability corporation. These business structures are very well known for protecting business owners from personal liability, however there are more rules and requirements that are associated with them.
Business Tip #3: Start Out Small
If you’re like most young entrepreneurs, you probably have grandiose visions of your company growing at lightning speed. While everyone wants their business to be successful, with a ton of employees and multiple locations, it’s important to learn to walk before you can run. Do your best not to spread yourself too thin, and try to avoid taking on too many expenses in the beginning. This is especially important if you think that your income will take a while to catch up to your business’ ambitions.
When you make a point to start off small, you can rest assured that your baby business will survive the inevitable hiccups that are associated with running a company. Entrepreneurs who start small can easily recover and learn from their mistakes, without having to take on a lot of debt.
Business Tip #4: Keep Your Focus
As a business owner, there’s a good chance you are being pulled in multiple directions each and every day. If you really want to make headway on a task or project, you need to dedicate time to just focusing on that task, and that task alone. Turn off your phone and email alerts, sign off of Facebook, and spend a solid hour or two focusing on just one thing. You’ll be surprised at the amount of work you can accomplish!
Business Tip #5: Build Your Brand
Contrary to popular belief, your brand is much more than your company logo, merchandise, and products. Your brand also entails the experience of your customers, and while it can include visual elements of your business, it also involves what you do, how you do it, and your customer relationships.
A great way to ensure your brand is successful is to build a distinct voice around your company. If you’re not sure what your voice should be, look at other brands for some inspiration. What are your competitors trying to emulate? How do they greet and interact with their customers on social media? What makes people feel good about doing business with them? All of these questions can help you figure out how best to represent your company and your brand.
Business Tip #6: Provide Your Employees With What They Need
One of the most important aspects of your company is ensuring that your employees have the tools they need to effectively do their job. If your employees are constantly digging through utility closets and the breakroom for office paper, pencils, labels, and other office supplies, they may not be working as efficiently as they should be.
At Perkaroma, we’re proud to offer some of the best office supplies and breakroom restocking services available in West New York. Whether you’re looking for a partner to come in and restock your breakroom supplies or office supplies, our professionals can help. From automatic restocking to our standard office supply and ordering services, we’re dedicated to making sure you have everything you need to run your company effectively. Check out our website to place an order for your office furniture, janitorial supplies, breakroom snacks, and power tools today! If you have any questions regarding our office supplies or you’re interested in learning more about our managed services, contact us today!