No one said that starting a company was easy.
In between crafting a business plan not written on a cocktail napkin and convincing your bank manager you’re not a lunatic, there are several other factors to be mindful of to ensure success.
That’s not just corporate mumbo jumbo – it’s fact.
According to the Office for National Statistics, one in three startups will fail in the first three years, which is enough to make the inexperienced entrepreneur quake in his boots.
So, to avoid your fledgling firm collapsing like an alcoholic on a pair of stilts, read on to find out just some of the things your new business should be taking into account …
Pick Perfect Premises
In the beginning, it may just be you and a handful of helpers – but it’s important to ensure your premises are appropriate for your current needs, as well as future expansion.
It’s vital that the premises you choose is equipped for your needs – high speed internet and adequate parking, for instance – before you sign on the dotted line.
Additionally, the location of your premises is crucial, because it’s hardly a great first impression for prospective clients if you’re situated in an industrial estate that looks like a war torn hellhole.
Sort Out Your Energy Supplier
Once you find the perfect premises, it’s time to sort out your energy requirements. While you may throw your hands up and claim you’ve got bigger fish to fry, this is actually very important.
Quite simply, energy consumption can be one of the major costs for your firm, which is why you should makes moves to sort it out as quickly as possible.
Try to gauge how much energy your firm will use and employ the help of a meter asset manager to make sure you’re not selling the family silver to pay the bills at the end of the first quarter.
Seek Out Top Notch Employees
It’s simple advice, but worth repeating: good employees make a good business. Therefore, as your company continues to grow, it’s inevitable you’ll need to hire some fresh faces.
Although it may seem like an interminable task, picking the perfect employee first time, although difficult, is extremely likely to benefit your business going forward.
After all, the last thing any fledgling firm needs is an unmotivated and underqualified member of the team preventing the rest of the workforce from flying high.