Image by StartupStockPhotos from Pixabay

By Henry Brown

When starting up a business there are a million things that run through your mind, from how to market your products or services to pricing, and even smaller details such as working hours. Unless you’re highly experienced with launching small businesses, there are bound to be a few things that you’ve missed along the way – and not to worry! Here are five things you might not have thought about for your small business start up so that you can tick everything off your list.

Outsourcing

When you’re first starting out, it’s very unlikely that you will need a large team of people to help you move your business along. If your business is run primarily in an office setting, there’s a large chance that you’ll be the only one needed to run your business for some time. However, there will come a time where you find the workload too much, and if you can’t justify the commitment of a permanent member of staff, then you can take advantage of outsourcing until your profits begin to grow.

You can find freelancers to complete tasks for you such as graphical design, content creation, marketing, and even general administrative work. This usually happens for a set amount of time and once you no longer need their services, you go your separate ways! You can find freelancers on websites such as Upwork and Fiverr for many of your business needs.

Finding the right bank for your business needs

Picking a bank for your business isn’t as simple as choosing an account for your personal needs. You need to think long and hard before you open a business bank account about what kind of services you’ll need from your account such as flexible withdrawals, multiple cards, business insurance and what kind of fees they charge for maintenance. A financial advisor will be able to help you with this if you’re struggling to choose.

Conduct stress tests

Businesses that are run primarily – or at least a large portion of it – online will need a server that can handle large amounts of traffic in one go. It’s important to conduct stress tests throughout every aspect of your small business, from phone line capabilities to product testing and website strength. Doing this before launching your business far and wide will ensure people get the right first impression about your business.

Understand your legal requirements

Being a business owner means registering your business to the right authorities and paying taxes when you’re supposed to. If this is your first business, take the time to learn and understand what your legal requirements are as a business owner. This will prevent you from making any mistakes down the line that could lead to hefty fines or even jail time.

Use constructive criticism 

Finally, you’ll never be able to please everyone with your business idea, but it’s also important to take criticism and spin it into something positive. Listen to the problems your business has and find a way to adapt and change things for the better. Your business will continue to grow and thrive!

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Henry Brown is an online marketing executive. When he isn’t talking shop, he’s roaming the streets of London, uncovering the extra-ordinary in the ordinary.