Work From Home Article

Starting A Small Business - Part 2 - Launching Your Business

Focusing on the finer details of starting a home business.

Posted on Sat, 07/24/2010 - 10:46 PM
By Bryan Nisperos

viewed 372 times

Starting a small business is a big process, but in this article we’ll focus on some of the finer details of launching your business. You can have a perfect business plan, all your fundraising completed and all of your paperwork and legal documents ironed out, but if you duff it in the first weeks and months, your business will fail or at the very best, struggle.

Long gone are the days where every business needs to do every service in house, and particularly if you are starting a home based business, you can save a lot of money by knowing what services should be hires, which should be contractors and which should simply be outsourced.

IT services have progressed to the point that unless your business grows to over 1000 employees, it will probably make economical sense for you to outsource. These services include everything from computer setup and repair to e-mail hosting and web development. If you don’t know where to start, consider talking with a consultant.

Contract employees are a helpful way to work on short term projects without the need to bring them on as full fledged employees. For example, if your company plans on introducing a new product every january, you could bring on a contract employee to do marketing from Oct.-April each year and still get exposure for your product while saving half the cost of of a full time hire.

Full time hires, and even part time hires, should be used sparingly in the early days of a startup. Investors will shy away from your business if it looks too “heavy” in terms of projected income versus projected expenses. A quick and nimble startup will comprise of a small team that can all wear multiple hats and quickly troubleshoot and adapt to change.
It’s also important to plan your business’s growth as much as possible. There’s no way to know what the future holds for your business, but looking at even the early trends in your business and other similar businesses will help you plan for growth in terms of salaries, office space and organizational structure. How tragic would it be to have a thriving business stifled by the inability to keep up with the pace of the demand for it’s products and services?

Read more about "Starting A Small Business" in part 3, Starting A Small Business - Part 3 - The First Year.

Start from the beginning - Starting A Small Business - Part 1 - Before You Start.

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