When the world shut down because of Covid, a lot of people saw this as their chance to kickstart their own dream career. Some people had no choice as the company’s that they worked for shut down, or some people were just bored and wanted a distraction. But now we are coming out the other side of the pandemic, a lot of people are wondering if their business is still viable. If you would like to keep your business going, here are some of the things that you will need to keep moving forward.
If you have made it this far with your business using just your street smarts and the internet connection in your home, you are doing pretty well. However, in order to ensure that your business is moving in the right direction, you need to start gathering knowledge about the industry you are in. The last thing that you need is to be left behind because you didn’t know all of the stuff that you should have known. Gathering knowledge can be as simple as reading different sources to gain a new perspective, or taking an advanced degree in a subject that would support your business. The choice is up to you. The important thing is to be informed and empowered so that you can make the right decisions for yourself and your business.
When you started your business, there was a good chance that you were working out of your spare room or kitchen table. As time has gone on and you have seen those profits rise, you have discovered that you can move to better premises and can invest in your business. This means getting the equipment that you need to take your business to the next level. If you are designing and making your own clothes, you might be thinking about investing in your own Industrial embroidery machine. Or, you could upgrade your computer system to something a bit more responsive. Whatever the equipment goals, you need to work out what you need to invest in to make things work better for you. Don’t get us wrong, some of the equipment out there will be expensive but it will be worth it.
Are you a one-man show? If you are, there is a chance that you are spreading yourself a bit thin. There comes a time when you spend so much time doing the busy work, you don’t have the time to do the actual work that is essential to your business. If this is where you are, you need to hire some staff. Your first stop could be an assistant to take over the office duties that seem to take up all of your time. An accountant is always a great help, especially if they can help you save money. Even hiring someone to clean the premises can make a massive difference to the amount of work that you can get done. As your operations grow, you will need to find staff that will work with your best interests in mind. Just remember to pay them well as a healthy wage can go a long way.
We mentioned this briefly earlier but we feel that it needs to be mentioned again and that is finding some new premises. You might have started on the kitchen table, but there is only some much that you can go there. By getting your own business premises, you are taking your business to the next level. Not only will you have an official business address that doesn’t involve your home address, but you will also have a lot more room to do things. It is also important to remember that it is probably safer to have a proper workplace, especially if you have kids at home. The last thing you need is a trip to the emergency room to get one of your kids stitched up because they were playing with one of your work tools. It can also be safer as you won’t have your home address listed on your business paperwork.
Ok, we admit, your business probably started out online and you have built it from there. However, what state is your online presence in now? Did you only use social media to launch your business or do you need a website? How does the website look? Does it need an overhaul and updating? There are so many things to consider when it comes to maintaining an online presence. The website that you have might be the first thing that people see when they are looking at your business so you should treat it as your virtual storefront. If you are not sure what to do with your site, you should find a professional firm to have a look at and see if they can make better use out of it. This can be handy if you would like to expand what you do on your website but are not sure how to change it.
How many hours a week do you work at your business? Let’s be honest, you are probably putting more hours into your business than you realise. This is mainly because you are invested and enjoy what you are doing. As wonderful as this is, you can find yourself getting sucked into your business when you should be spending time with your family. It is important to have boundaries and understand when it is a good idea to switch off. You might need to put working hours in force and be able to leave your work at the office. There is no point leaving the office to sit at home and work. Of course, you could get your family involved with your business in order to spend more time with them but it is a good idea to take some time away from your business. Even if you can only manage to peel yourself away for one day a week, it is better than nothing.