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.
I didn’t want to get a truck with a million miles on it. I am not a trucker by trade; I got my CDL specifically for this project. I didn’t want to get into a truck and then have to worry about its structure, engine, and transmission—and then start building Optimus on top of it. That’s why I got a brand-new truck custom-built from Western Star to become Optimus Prime.
To experiment with different wood shop layouts, measure your furniture and equipment to sketch onto your plan in different positions. You can also make cutouts of the footprint of your items so you can easily move them around your floor plan to see how best to arrange them. As you do so, don’t forget to leave adequate spacing around tools and tables.
Small business owners can maintain steady, manageable growth by keeping a firm eye on costs and always aggressively looking for ways to increase sales and grow their brand. It can be difficult to empower staff and managers around you, especially if you’ve spent a long time steering the ship alone, but it is an essential part of successful expansion. Stay open to suggestions from your managers while making your current business best practices clear to them.
According to store design experts, this is the part of the process where store owners tend to put the cart before the horse. Once the floor plan is sketched out, store owners are quick to purchase and install fixtures, then fill them with product. Far too often, the fixtures chosen aren’t ideal for displaying a range of products in a particular space. Or worse, they don’t offer flexibility needed in valuable display areas that are constantly changing to house featured and seasonal products.
A great freestanding beverage cooler should come equipped with a thermostat that lets you control the temperature to your liking — the colder the better for carbonated drinks, which tend to taste best when served at a frosty 34 degrees. If you plan to store adult beverages in your cooler, look for a model with a lock to keep your drinks away from children and teens. You’ll also want a model that allows you to reverse the way the door swings when you set it up, as this will provide flexibility in your workshop layout to help maximize your space.
Apps in this scenario would be able to fully function without any sort of network connection. Historically, examples of standalone apps might be your settings app or the camera app that comes with your device. Even today though, those apps usually have some interaction with the network. For example, you can share a photo from your camera via messaging.
So what’s the downside? Well, for starters, RV conversions aren’t exactly known for quality. Most manufacturers use cheap (i.e. shitty) materials, and just don’t build their vehicles to withstand the stresses of full time living. You’re also locked into a pre-designed layout, so it will be a lot more difficult to customize how everything functions.
I want the shop to be big! Not only do I have a lot of tools, but I tend to frequently bring tools in for testing. As you probably know by now, I also do a lot of filming. So I need a space big enough to allow for full movement around most of the tools. My tripod has a pretty good-sized footprint and having more room allows me to get the best vantage point possible. More space will also allow me to stage larger pieces of furniture, whether for the show or for jobs I take on locally.
We think that insulating your van’s floor is worth the minimal extra cost it adds to your build. The best floor insulation is ½” XPS foam board due to its high r-value per inch and its compressive strength. But a layer of Reflectix will add some insulation while taking away less headspace. We used Reflectix, but if we did it again we’d go with the foam board.
In order to ensure that the staff you’re bringing on board is the right fit for your small business, there’s a few questions that you should ask yourself during the interview process. Are they competent? Capable? Compatible and committed to your core business values? Do they fit in with the culture you are trying to build? And can you offer them fair compensation? Business expert and entrepreneur Alan E. Hall, calls this the 7 C’s to hiring. At the end of the day you want to look beyond the skills and experience they have on paper and make sure that they are willing and able to grow with your business.
Make sure to utilize the tax-specific resources provided by the SBA and the IRS to fully research your federal and state tax obligations. These include, but are not always limited to: corporate income tax, employer tax and excise taxes. For most small businesses, the right first step is applying for an Employee Identification Number, which you can do using this IRS EIN online application. Depending on your state, you might also need to register for a sales tax license.
A great product line will also reflect a range of price points. For a business that is working hard to convey a sophisticated and elite vibe, it might be a useful strategy to set a high minimum price, but for the vast majority of small businesses, your pricing should be guided by one key thought: I want every single person who comes through my door to be able to find something that fits their budget.
While a single great product can’t usually support a whole business, it is beneficial to select one or two “headline” products that will form the cornerstone of your offering. This will often be an obvious choice: If you’re a coffee shop, your headline product will be coffee. If you’re a burger joint, you guessed it, it’ll be burgers. This product will often be the centerpiece of your marketing efforts and a way for you to “own” a space in a customer’s mind. For example, Jack’s Burgers makes the best cheeseburger in town and Daisy’s Threads has the most adorable scarves.
This OXO palm brush really helps us conserve water while washing our dishes. We fill the reservoir with water and a few drops of Campsuds, and we only squeeze out what we need - so it takes care of both the initial rinse and getting our dishes soapy with minimal water usage. It’s also very compact, and the comfortable shape makes it easy to scrub dishes.
Use this model whether you’re looking to turn your team of one into a two-person shop or you’re hoping to build out your marketing department to a team of 10 or more. By focusing on the skill sets your business needs to be successful — rather than on the resume of an individual candidate — you’ll ensure vital functions are covered while expanding in a sustainable way.
If you are just getting started in woodworking and want to know what tools you’ll need to set up shop, you’ll want to download this free PDF from Popular Woodworking. We have put together a complete list of basic woodworking tools to kick-start your new hobby. In this free download, you’ll get our recommendations for the best hand and power tools for beginners. Buy these tools and you’ll have everything you need to make great woodworking projects.
These could mean anything from a local sponsorship of a high school sports team, an infrequent advertisement in a local paper, an unusual purchase of artwork (such as mural or window art), or anything that doesn’t necessarily fall in the categories listed above. Your total coffee shop costs will be broken down by one-time startup costs, fixed costs, and variable costs.
Ultimately, the cost of your coffee shop starts entirely with you. Your coffee shop business concept plays a huge role in what direction you'll go in and what your budget will look like. So if money is an important consideration to starting your coffee business, review what kind of coffee business makes sense to startup at this point and time. We've recently written some articles on low cost ideas for coffee shop businesses.
Now I want you to create a spreadsheet or use my worksheets and write one major goal on the top. This can be the first goal you want to accomplish. Then I want you to list all the tasks you need to do (or someone on your team has to do) in order to accomplish this task. For example; let’s go going back to the goal of "Launching a New Website". The tasks you will need to do to get this goal accomplished are the following;
The final size I decided on was 1800 sq. ft. Yeah, that’s big! I actually balked and second guessed myself after we received the estimate from the contractor. Sure, more space is nice, but at what cost? I then asked for a second estimate, bringing the shop down to 1500 sq feet, which is still huge. As you might expect, the savings just weren’t that substantial. By the time you get over 1000 sq. ft., the price per sq. ft. is really low, making it very difficult to justify down-sizing. So I bit the bullet and stayed with my original choice of 1800 sq. ft.
It's a well-known fact in the retail community that in North America, 90% of consumers turn right unconsciously upon entering a store. The first wall they see is often referred to as a "power wall," which acts as a high-impact first impression vehicle for your merchandise. So, be sure to give it extra special attention in terms of what you choose to display and how you display it.
Thanks for leaving a comment, Rob! I didn’t find that it limited where I felt comfortable camping, but I always tried to be discreet… Waiting until few if any people were around before I hopped in and usually peeking through the windows so I’m not hopping out right next to someone loading their groceries or whatever. I slept in all sorts of random places in that time on the road, more often than not it was in permissible camping areas, but there were other times it was more frowned upon–from grocery store parking lots, to auto repair places, etc. Certainly is more likely to guess that someone is camping in it, but I only got hassled once (by a rent a cop telling me to move on).
How to Optimize a Small Layout – Not everyone has the room to have a huge shop selling everything. Ralph guides you through making the most out of a small shop layout. This includes optimal machine placement, where to set up shop, the tools needed, and lots of other consideration. The guide walks you through every aspect of setting up your shop – going into details without having it be overwhelming. It’s ideal for beginners that are looking to set up shop.
Woodworking isn’t just an overnight hobby, for most it’s a fun pursuit that lasts a lifetime. As your skills develop, the workshop becomes a place not just to build but to repair along the way. In a world where people are strongly influenced by consumerism, there’s a tendency to revert to a throwaway culture. But if you can fix before throwing away, then your tools start to make a return on their investment and have a bigger impact.
Expert Tip: Banks are often reluctant to provide long-term small business funding. They prefer short-term loans that are associated with physical assets, which can then serve as collateral. So instead of just asking for a generic loan, maybe consider raising capital for specific equipment that will kickstart your new business, like an espresso machine or delivery vehicle.
Do you create, collect, or curate anything special? Consider starting an ecommerce store and turning your hobby into a full-time job. Whether you need somewhere to sell all that pottery you’ve been making, or an excuse to search for the sports memorabilia you love tracking down -- an ecommerce store can make it financially viable for you to pursue your passion.
Table mounted routers, planers and shapers are another machine that usually has material fed through, and although they are fairly narrow machines, they require room on their front for material to be fed from, and at the rear for the material to be removed after the work is complete, so again, a space of about ten feet is needed for any significant work.
Lastly, and perhaps most importantly, your size should make you lean. Every single aspect of your store or restaurant can be tweaked and optimized to ensure more and more customers are coming through the door. As you experiment with strategies on Facebook or Twitter, introduce a new email marketing techniques, or simply erect new signage outside of your store, you have the chance to measure your success and react quickly to failure.
1. Paint an accent wall. Painting one wall a bold color is an affordable and effective way to not only spice up the space, but also to make it look larger. A bold colored wall creates the illusion of receding in space, says Libby Langdon, HGTV design expert and author of Libby Langdon's Small Space Solutions (Knack, 2009). Putting colorfully printed fabric or wallpaper on one of your walls is another way to achieve the same effect, while adding eye-catching textures and patterns to your store.
Equity financing is money raised in exchange for a share of ownership in your business. The core benefit of this type of funding is the lack of debt. You won’t have to worry about those pesky monthly repayments. The downside? You are giving up total ownership of your business, you are giving up the rights to a portion of the ongoing profits of the business, and you are potentially giving up some control of how your business is run (Though this is not always the case).