Getting your operations up and running
The Albert O’Connor & Co Accountants team know that if you are ‘pressing go’ on your new business, you should be aware of the key elements to have in place before you begin trading are.
The complexity of your operational model will vary greatly, depending on the kind of business you’re setting up. A small two-person construction design agency will have a simpler operational set-up than a large scale retail business, for obvious reasons. So, this stage of the journey is about pinning down those key operational needs and getting an effective strategy together for how this business is going to work, in the real world. Here are some tips by the Albert O’Connor & Co Accountants team to get your operations going.
Find your premises or workspace
Every business needs some kind of workspace, whether it’s your own home, an office or a factory space. This is the place where the actual work will be done and the central hub of your operations, so put some careful thought into what space will be needed. In terms of location, the type of business will also dictate whether you can be based where you are, or should you be where your customers are.
Buy your equipment and tech
You’ll have set aside some of your initial funding to buy the basic equipment and technology needed for the business. This will include all the machinery, plant, office furniture, IT, computing and telecommunications equipment required to run the business, plus any vehicles you’ll need.
Once you have your premises ready to roll, you can start moving your equipment in and actually ‘setting up shop’ in your brand new workspace.
Source your key suppliers
Most businesses will rely on some form of the supply chain to keep the business ticking over. The design agency will probably need paper, printer ink and (no doubt) a lot of coffee to stay operational. And our food production business will need raw ingredients, cardboard boxes and product packaging to be able to produce their key products.
Get the logistics and delivery elements in place
Getting the finished product/service to your end customer is the main goal of any business, so the final piece of your operational puzzle will be sorting out your logistics and delivery systems.
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