In every aspect when starting your small business you should be mindful of making careful, prudent decisions about the allocation of your potentially limited funds — tracking precisely the cost of goods sold (CoGS) against sales to ensure profitability. Every dollar spent is tracked and accounted for, either as an essential cost of doing business (rent, employees, etc.) or as a cost of inventory that will result directly in profit.
A table saw is one of the most important tools in the workshop for its ability to make long straight cuts. It will also cross cut with ease and if you don’t want to cut clean through a board you can adjust the height of the blade to make a dado or rabbet. A handy feature with the BTS10ST table saw is the vertical stand which also saves on storage space.
If you’re a high volume QSR for example, you’re going to want clear signage that helps customers identify where they should be lining up and perhaps a product display next to the line. If you have high risk merchandise in your store, you’ll want to design your shop so that customers must pass the point of sale on their way out and use mirrors to eliminate blind spots in your business.
To mark your cut for the bottom angle on the speaker stand legs, lay the board assembly on the plywood template again, and use the plywood edge to scribe the non-angled end of the board assembly. Be sure to consider which wood species (light or dark) you want on the inside and outside of your finished speaker stand legs, and keep that in mind when making your angle cuts.
When leasing a retail space, there is always risks involved. Your goal should be to minimize these as much as possible by considering every angle and asking the right questions. For example, does the landlord intend on erecting scaffolding on the building at any point during the lease? If so, can the rent be reduced to reflect this situation? You will also want to ask to have a clause included allowing you to sublet if necessary, which can be important if you ever find yourself struggling to make payments.
Have a walk-through yourself and see where the visual cues guide you or get your staff, friends, or family to do the same and give you honest feedback. Don't forget to observe your customers and see what they're drawn to, what they avoid, and how they move, then match that with your intended design. If you keep resilient and keep your eyes and ears open, you'll be sure to create a retail design that's a win-win for both you and your customers.
Excessive growth is of course, a good problem to have. However, after stabilizing from the startup process, small businesses more commonly grow steadily before approaching a plateau. This is completely normal and it is often at this point that you’ll need to go back to your business plan and carry out what is known as a SWOT analysis. This includes an analysis of a company’s current finances, the competition, and SWOT: Strengths, Weaknesses, Opportunities, and Threats. Renovation of your product line, rebranding, and seeking investment for expansion are all potential results of this SWOT analysis. Once again, the key here is being data-driven and always staying hungry. The successful small business owner is always looking for the incremental improvements in their business that when added up, make all the difference.
Hey Anthony, I guess the big question is what part of the country you’ll be sleeping in and what sort of weather you can expect… I would imagine when conditions are fine that a warm sleeping bag would be more than enough (I used to do that before I had a canopy). You’ll just have to worry about rain (snow?) and other inclement weather, but otherwise I don’t know why not. A cheap bivy sack from an army surplus store might be a good addition as well.
I’ll throw this suggestion out to you too – while a warm sleeping bag would be a good start, maybe a couple sheets of plywood to put over the truck bed with a tarp over that would provide you some extra protection from rain/snow and also trap in some body heat. You wouldn’t have to make them permanent and could just slide the wood into the bed when not sleeping under it. A cheap bivy as Ryan suggested would also be a good consideration and a quality sleeping pad to provide some warm rating and comfort from the truck bed.
You can see in this step how I notched each rafter to fit more securely to the walls. I also used a metal hurricane strap to secure each rafter to the wall. Even though this was not required by code, I felt my tools were far to valuable to be left to chance over such an inexpensive solution. The walls are a simple board and batten system. The 1x3 trim covers the joints of the 4x8 OSB. They make much more high quality sheets goods to use as siding. However, the cheapest I found was $35 a sheet and the OSB was about $5 a sheet. I sealed the OSB and painted it with exterior paint. If I run into problems in the future, I can just add a second layer of more durable material or simply have siding installed. It has held up very well over the past couple years and I see no need to spend more money on it now.
You can see I broke the ultimate goal down into smaller tasks. Now you just need to do this for all the big goals that you have mapped out for the year. You may have more ideas or goals throughout the year and that’s okay. With this type of document, you are able to add another category and tasks anytime you want. This is just the best way to keep track of all the little things you need to do to accomplish your goals so you never are stuck wondering what you have to do next.
When Julie Owen bought Cocobolo Interiors in 2008, she set about adding more contemporary items to the Armonk, N.Y., shop. But with only 3,000 square feet, she struggled to figure out where to put her expanding line of furniture, lighting fixtures and accessories. Her solution: create sections within the shop and arrange the furniture the way customers might imagine it at home, using low bookcases and folding screens as dividers.
I have different toolboxes for different jobs around the house. Occasionally I’d grab a tool out of one box and then put it away in another. Eventually all my flat-head screwdrivers would end up in one toolbox. To solve the problem, I now mark the handles of the tools and the corresponding toolbox with a band of colored electrical tape. Now all the tools are in the box where they belong. — Kim Litkenhaus Marino
Starting your own small business can be an incredibly rewarding experience both personally and financially. However, like anything worthwhile, it takes a great deal of time and effort to be successful at it. Your results will depend on how much you are willing to apply yourself. The lessons in How to Start a Small Business 101 are designed to give you a leg up on the competition so you can hit the ground running. Now all you’ve got to do is bookmark this page, free up some time, grab a cup of coffee, and start making your way through each section.