Posts

3 Things to Consider When Starting a Manufacturing Business

/in /by

StrategyDriven Starting Your Business Article |Manufacturing Business|3 Things to Consider When Starting a Manufacturing BusinessIn this day and age, there are a variety of industries that are full of opportunity for aspiring entrepreneurs. One such industry that many people are looking to break into is that of manufacturing.

The demand for manufactured products of many varieties is only increasing, a fact that leaves the door open for quite a bit of success for those looking to establish their own business. With the right steps in place and preparation taken, you can start your journey towards owning and operating a successful manufacturing business.

It is important to ensure that you are putting the right measures in place so as to give yourself the best start in the manufacturing industry. Here are three such things that you should consider doing in order start a successful manufacturing business.

1. Do Your Homework

Before you can start a successful manufacturing business, the most important thing that you can do is educate yourself about the specific type of manufacturing that you will be engaging in. There are going to be a variety of industry specific regulations that you will need to follow and important guidelines that need to be kept in mind as you establish your business.

For instance, if the product that you are going to be manufacturing needs to be produced following the strictest hygiene standards, you need to outfit your location with everything from AL-6XN tubing to sanitary holding containers and vessels.

Become an expert in the area of manufacturing that you are attempting to break into so that you can get things started in the best direction possible.

2. Focus on Funding

As with any new business, it is important that you are able to secure the right amount of funding necessary so as to give your business the best start in the world of manufacturing. It can be an expensive industry to break into, but with the right business plan in hand you will be able to set yourself up for a desirable return on investment.

If you are going to need to seek out investors for your business venture, make sure that you have a solid presentation prepared that will outline all the steps that you are going to take in order to properly establish your business for the best return possible.

3. Choose Staff Wisely

When it comes to manufacturing, you might be attempting to break into a specific sort of industry. For this reason, it is crucial that the staff you hire is experienced in how to properly manufacture your products.

Take the time to train your staff accordingly so that they are prepared for any and all challenges that they will face in the early days of your business. From time to time, it is a good idea to help them brush up on their skills as well as on any and all changes that have taken place in your industry with regard to health and safety as well as any other regulations.

2 Fabulous Ideas To Kick Start Your Entreprenuerial Ambitions

/in /by

StrategyDriven Entrepreneurship Article |Entrepreneurial Ambitions|2 Fabulous Ideas To Kick Start Your Entrepreneurial AmbitionsThe time for mourning the year that wasn’t has come and gone. The business environment is exciting and innovative and gearing up to meet a whole new level of business continuity services that didn’t or might not have existed before – at least not as they do now.

The headline on this website says it perfectly:

“The StrategyDriven Entrepreneur is a uniquely talented individual, motivated to move beyond the confines of corporate America to make an indelible impact on the world around them. These entrepreneurs accept the risks and challenges involved with building an enterprise, believing in themselves, their team, and their ideas.? – strategydriven.com.

So how do you begin to unpack that noblest statement in an attempt to create your own startup value proposition? How are you going to pitch to your investor in a way that shows you mean business and are worth, relatively medium-risk investment?

The Truth is, it’s not easy. We’ll need more than just this post to unpack all of that because every startup carries individuals’ ambitions and intellectual progression that are quite unlike any other. But, there are two fundamentals that just about any entrepreneur should keep at the forefront of their business planning that can keep the vision on track, make provision for the bits that work, and be honest about those who need a little extra guidance.

Tell Your Investors a Real Story

Technically, this section should be after headings like “pitching your story,” “finding investment,” and “what differentiates your business.” Still, the truth is as clever as your pitch might be, there is a 100% chance that your potential investor and clients have heard it all before – or rather some version of it. So before you start pulling out the stats, data, and those fancy flowcharts, begin by telling your audience a real story. (Not your life story, mind you), just the real, honest version of how you brought your product or service to where it is now, and if you can include a little humor (read the room), never a bad idea.

Outline Your Business Model

Again, not quite the order that most people recommend it to be in, but after you’ve piqued their interest with your initial pitch, you want to get straight down to business – time is money, and this is no exception here. Introduce your leadership team and give them a minute or so to elaborate on what they do – but more importantly, how their function will make everyone else’s lives better.

What are you doing not just differently but better? What particular fail-safes have you incorporated into your business model based on local conditions and unique operating environments? Do you have a water-heavy plan in the desert, and if so, do you make use of the latest water tanks to ensure business continuity? This type of foresight matters and instantly elevates you above your competition. If your business can ensure that your clients do their business – you’re in.

There’s never going to be one sized-fits all approach to keeping your business fresh and relevant – and sometimes, you don’t even have to go down the route of endless innovation. If your model works for your environments and gives your clients, partners, and other businesses what they need to keep operating, then you’re on the winning side.

You can expand on this post exponentially, and we hope you’ll take the time to check out the rest of this site because there’s never been a more exciting time to indulge your entrepreneurship ambitions, but you do need the right advice and the right partners.