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Starting a business takes a lot of planning and preparation—so much planning, in fact, that it’s easy to overlook some of your business’s and employees’ basic needs. Take your focus off the big picture for just a moment and consider some of these commonly overlooked things when starting a business that you may have missed yourself.
A Good Business Name
How is this even overlooked? So, this one is really important because there’s a massive difference between having a name you like and having a business name. When it comes to company name ideas, they need to be memorable, they need to make sense, they need ti be relevant, and they probably help if it’s SEO-friendly too. So, just sit down, and have a brainstorming session, but feel free to even use a generator to help you out too.
Accounting Software
As you’re setting up your business, you likely already know the positions you need to fill or have already hired for. No matter what size business you own, you should make sure that you have an accountant or someone specific to handle accounting jobs. These materials can get messy, so having a specialty accounting software can make the job a lot easier, whether you hire an experienced accountant or not. This software can help keep all your materials organized for easy access during financial meetings and more.
Marketing Plans
When your business is just starting out and getting on its feet, it can be easy to push off tasks like branding and marketing to a later date, but establishing these areas is critically important in the beginning stages. It’s never too early to start establishing your business as a brand and getting your name out there. Plus, even something as simple as designing your brand’s logo falls under marketing, so make sure you set aside the time and the budget necessary for early marketing campaigns.
Safety Nets
Even the most detailed of plans can go off the rails at some point. You may feel like you have everything planned out, but many issues can arise in the beginning stages of business planning. This is why it’s helpful to have a financial safety net in place for any additional costs that you might run into along the way. Anything from maintenance issues to shipment delays, to construction obstacles can cost your business extra, so having a safety net for these additional costs is crucial.
Office Structure
Finally, once you have hired all the help you need and budgeted for every business need, it’s time to get settled into the new office, workshop, or other workspace. You may have all your technological needs, but are all your amenities accounted for? For example, did you buy trash cans for the space yet? What about bathroom amenities like soap and toilet paper? Sometimes we forget about these small things until the last minute, so make sure to add them to your list.
Have any of these commonly overlooked things when starting a business jogged your memory? If you were missing any of these areas before, make sure to add them to your planning before your start date. Your business and your employees will thrive thanks to the productive work environment and all the planning work you’ve done.