4 Guidelines To Get Your Business Started On The Right Track

The main reason why people choose to invest their capital in establishing a startup is flexibility. The business offers flexible growth opportunities to the owner. You get plenty of time, resources, and technology to plan your business setup and grow your brand over time.

However, as much as the idea of starting your own business sounds exciting – know that the task at hand takes plenty of commitment and effort. During the setup process, it’s all the more important to ensure you’ve got every point on your list covered. In doing so, it’ll ensure a smoother process and help you get started on the business operations much easier.

Below, we have compiled several guidelines that you should follow to start your business successfully.

Conduct your research

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Whether it’s e-commerce, repair services, or retail business, you’re planning to get into – you should have a business idea by now. Now, before making any other decision after settling on your core business services – determine whether your business idea has the potential to survive in the long run. Thorough research will help ascertain if your business offers some value to customers and cater to the market needs.

In the midst of your research, you should check if the business location of your choice provides multi-purpose spaces. At Work+Store, our ancillary office are excellent for conducting more than one activity in one place – be it manufacturing or marketing. On the other hand, if you’re interested in switching to another business – we also have lease terms which are able to meet that demand. Both workspaces and self storages offer the option of only a short period of lease as well as contract transfer to a broad range of services and products available in our establishment or even our parent company, LHN Group: vending machine spots, serviced apartments and office, pop-up store venue rental, and so on.

Decide your business location

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The online business might prove a great idea for startups that don’t have sufficient capital in the beginning. That said, you will still need to find a self-storage to keep all your company’s accessories, tools, and stock. More importantly, location plays a big part when it comes to moving inventory and customer, employee, and client convenience.

Work+Store has the cheapest self-storages and workspaces, with a range starting from 6 sqft to 730 sqft for storage spaces and 88 sqft onwards for workspaces. We provide a wide array of location options at Work+Store, namely 10 spread across Singapore: Pasir Panjang, Aljunied, 72 Eunos, 100 Eunos, Upper Thomson, Bukit Merah, Kallang, Ang Mo Kio, Tampines and Bartley. Moreover, our Aljunied location is suitable for those setting up a new business due to the rent-free promotion, which allows you the opportunity to save at the starting. In addition, the establishment comes with free parking and usage of meeting rooms. For any enquiries in mind, do approach our staff. Terms and conditions apply.

Prepare the funds

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When you are starting a business, you need to invest a considerable amount of capital in buying a workspace, registering your business, and meeting the day-to-day expenses. It takes up to weeks and even months for businesses to turn their idea into profit.

Just a solid business idea will not help start your firm. You need to fund your company and the regular expenses – such as employee’s salary, electricity bills, travel expenses, advertising, marketing, production, and so on.

Design your space

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Once you’ve decided on a location and rented the workspace, it is time to design it. The physical environment plays a pivotal role in building an employee’s confidence and boosting their productivity. You also need to decide whether you’ll be buying new furniture or getting rental furniture pieces.

Meanwhile, keep in mind that your choice of workspace should let you access the premises whenever you need to so the moving and design process during the renovation is done with ease. Work+Store provides the cheapest self storages and workspaces with 24/7 CCTV surveillance and accessibility. Additionally, our workspaces are equipped with standard facilities like a powerpoint, air conditioning, and ample lighting. Aside from providing extra storage, the combination of workspaces and self storages helps make the process of logistics management smooth-sailing and makes good procurement much efficient to improve customer satisfaction.

Even small decisions matter when it comes to business. From arranging finances to selecting a location to the design of your space – many factors need to be considered when setting up a business. Let these tips be a headstart as you start establishing your new business.

If you wish to find out more about Work+Store and our other storage options, feel free to contact us at +65 6578 9966 or WhatsApp us at (65) 8345 9966. Alternatively, you can email us at space@workstore.com.sg for more information!