What to Consider When Starting a SME

So your mind has finally been made up, you’re going to start your own business. Long nights, sweat, and an unhealthy amount of energy drinks will be consumed as you bring your journey. To give you a few less headaches while embarking on your endeavour here is a brief list of things to consider when starting up.

03_shut_168805589-birthright-israel

Connecting the Dots
You’ve got this awesome product that you think costumers will swoon over. In which case you already deserve a pat on the back, however have you thought about how you’re going to put your product into the hands of your customers? Most likely there are more than a couple kilometres between you and the people purchasing your product. Shop around for a courier that you believe suits your needs. Do you think you’ll ship to other countries or will be using Amazon in the future? A quality pallet courier can make all the difference both to your customers and to your bank account.

What’s Over Your Head?
Overhead is everything you’re paying for that isn’t direct labour, materials, or third-party services. When people hear overhead they mostly are talking about the cost of rent. Where and how do you envision your company functioning? It may be possible to work out of a shared space, which will allow you to trim costs while enlisting valuable services through the shared workspace. It may also be possible for companies to operate without even renting a building. Online collaboration software makes working remotely easier than ever by creating a fully capable virtual work place.

Managing Your Online Presence
Businesses today no longer garner most of their sales through foot traffic. Being as visible as possible on the internet is now widely accepted as the best way to make contact with potential customers. To do this you’ll need a solid social media, SEO, and PPC strategy. If you intended on overlooking this aspect of your business, reconsider and know that when your business has a strong internet presence your open 24/7.

How Deep Are Your Pockets?
Every business is going to need some sort of capitol to get the ball rolling. At every step of the way you’re going to have to consider how much things cost. When it’s time to pay up where do you imagine the money coming from? Will you look to banks for a loan or backing from investors?