Tips on Creating a Business Venture in London in 2021: Part Two
As we move into the summer months, it’s looking like 2021 is cautiously moving towards a better year for people and businesses in London. It might come as a surprise that starting a new business is a popular trending topic online. The spirit for taking control and proactively seeking change is ushering in a new era of commerce. This will undoubtedly improve the UK’s economy, as SMEs and start-ups take centre-stage for the post-pandemic future of Britain.
The question is – what’s the best way to start a new company or enterprise? While there’s plenty of advice online – and we’ll be linking some good sources – there are still some practical questions. For example, how would someone create an e-commerce company without spending a fortune upfront? Safe Removals can suggest ways of doing exactly this type of set-up, but on a lean budget.
Smart Tips for New Enterprises in London –
Now we have a starting point, and we can look at various approaches for start-ups and solopreneurs to consider. The first step in any enterprise is the concept – you need an idea. Otherwise, you won’t get out of first gear. You then take this thought and add some research, progressing it to the next stage of conceptualisation. And with each additional piece of data, you’re moving towards your niche or a better idea of the industry you’ll fit into.
Now, you will take your idea and begin drafting a business plan to test out and build it into something tangible. Don’t concern yourself too much if you sense a lack of preparation. You’ll be editing and changing your plan so that it will develop alongside your concept. But it’s essential to understand things like costing and your market.
Please don’t let any of this put you off – no one knows this before their journey into becoming a business owner. You’ll find things straightforward if you break the bigger idea (starting a business) into smaller, more manageable tasks. Put together a checklist of every action point, then tick them off as you learn more or complete them. We think you’ll be well on your way to trading, especially if you do so with a lean budget in mind.
Setting Up Utilities and Other Services –
Once you know where you’re working from as a base of operations, it’s time to think about some other recurring costs. This is something newer companies or entrepreneurs forget to factor in their business plan. Not to mention those who ignore entirely how important their plan is, which is a recipe for disaster, and one you’ll do well to avoid.
Understanding the costs of running your business from day one gives you an advantage. You’ll not doubt what your cash flow is, allowing you to consider how much available funds you have. This can make the difference between making sound decisions and wasting money on things you can’t afford. The latter might have a domino effect, where you don’t survive the first year.
Shop around and price things like electricity, gas, and any other services specific to your venture. Everything comes at a cost, including vehicle purchase or leasing, so don’t miss anything out. Most businesses need a means of communication, so get quotes for mobile phones and the internet. Then there are things like web design, copywriting, and other services most new enterprises use.
It’s a numbers game and one you need to get right before you start officially trading. The good news is this preparation will put you in a favourable position. You’ll have confidence you know what you can spend. And everything is lined up for you to begin whenever you’re ready to launch and start accepting orders.
Tips for Networking and Building Contact Lists –
Does the prospect of networking terrify you? Admittedly, it takes a confident personality to eagerly enter a room full of strangers and strike up several conversations. However, that doesn’t mean this is solely for extroverts and those who feel confident. Getting to know others in your business community is an essential part of success.
You don’t need to have the gift of the gab either, and you should remember this is breaking new ground. Most networking events have moderators who facilitate and assist anyone who’s there for the first time. We would advise you to contact them prior to attending if you need any pointers. This might surprise you – doing this is all part of the process.
Networking doesn’t always involve specific events, although you should attend at least one. Every email or phone call you make when seeking quotes represents an opportunity to build your network. And that’s all this is – putting together names and contact details so you can build relationships. It’s not unlike your everyday interactions with family and friends, and it applies to the business world as well.
You nurture and share a common interest, in this case, possibly a supply and demand scenario. When you work with a person or company for several months or years, it’s easier to sort out any issues. People go the extra mile or jump into action for an emergency when there’s a pre-existing connection. It all has to start somewhere, so have networking in mind whenever you do anything related to your venture.
Using Storage to Reduce Recurring Costs –
Here’s one that applies to businesses with a customer-facing element. Depending on how important passing trade is, you might need to consider two options. The first is renting a property in a particular area which increases the potential for window browsing. Then there’s another possibility of moving elsewhere to get more value and space.
First, let’s consider a retail shop with lots of storage provision as your current set-up. Would it be beneficial to move to a smaller building and use storage instead? Self storage is much cheaper than commercial rental costs per square metre. You might be able to relocate to a modest property in a popular shopping area by offsetting the costs with storage.
Then there’s the option of moving completely out of the city centre to an area with much lower rental rates. You’ll find more value the further you head away from the central business areas. It’s still possible to continue being fiscally savvy by using storage. Plus, you won’t have to worry about a contract or lease tying you down with self storage.
More Benefits of Using Storage for a Start-up –
Using storage is the best way to ensure that your company’s products, equipment, and materials are safe and secure. While many buildings have storage spaces, there is no guarantee that these provisions were made to give 100% protection from damage and theft. At Safe Removals, our storage units prevent any damp or overheating issues that cause harm. And our facilities also have state-of-the-art security measures to prevent theft.
When you arrive at our storage depot, we’ll assist you with any awkward unloading or packing. We’ll go through an inventory of your belongings before anything goes into your storage unit. There’s always a member onsite to discuss your current storage package with, should you need to make any changes. Safe Removals applies flexibility to all our services, making it possible to accommodate everyone’s needs.
The Safe Removals team takes on every job with a drive to deliver excellent customer service. We always turn up early, ready to complete every relocation or storage job on time. We are specialists in business storage and removals services, and there is no job we can’t do. No matter what your company’s storage needs are, Safe Removals has the right service for you.
Safe Removals – London’s Business Specialist Removals Provider –
At Safe Removals, we believe that using removals and storage will reduce your upfront and monthly costs. This will put you on the right path towards running a lean and adaptable start-up enterprise. The initial year is crucial to limit your overall losses, break-even, or better yet, make a profit. And by working with us, it’s possible to achieve the latter by creating and maintaining manageable expenses.
Safe Removals works with hundreds of new businesses every year, providing them with affordable and comprehensive services. We specialise in packages no other removals and storage companies offer. Should you have a particularly unique requirement, we’ll do everything possible to match you with the correct service for your circumstances.
For anyone who’s planning and putting together a business idea this year, please contact us today. We’ll go into more details about the services we offer to see how we can help you begin your journey.