Starting a new business means building it all from scratch. You cannot just invest in a new division and use all you have learned and even accumulated to kickstart the process. No, you need to buy it all, right down to the last pen. It’s why starting a business is so much harder than running it once you finally get some steam in your sails.
To help you make sure that you don’t miss anything, follow this checklist:
- Your Work Space
First things first, do not buy any equipment until you have the space. Know what you need by all means, but do not buy anything. If you need space for industrial equipment, then make sure the workspaces you are looking to rent can accommodate them. There will always be things you need to have, and things that you want to have. Your budget will certainly constrain you in some ways, but so too will the space you rent. By waiting you can invest in the right equipment to get your business off of the ground.
- Essential Equipment
If you manufacture anything, then this should be your priority. You can manage an office with very little equipment. It won’t be comfortable, but you’ll upgrade as you go. Industrial equipment is necessary to get the ball rolling, and if you can try to invest in the machine that will last you a decade or longer. Closed-loop vacuum pumps, industrial-grade machinery, even distillery equipment – all of this needs to last. If it doesn’t then you are looking at that initial upfront cost again down the line, and likely before you can afford it.
- Safety Equipment
In all cases safety equipment is a must. If you have industrial equipment, the PPE you invest in will look very different than if you just need an office space, but the importance still stands. Invest in safety equipment for yourself and anyone you hire.
- Office Equipment
Every business needs an office, but thankfully here is where you can finally start cutting some of those cost corners. Desks, chairs, lamps, and even file organizers can easily be purchased cheaply second-hand or rented for a good price.
You could even get a good deal on any electronic equipment. Computers to phones, certified refurbished options are a great way to save on anything with a power source without sacrificing on quality.
- Miscellaneous Supplies
Miscellaneous supplies are the last because they are relatively easy to source when you need them. Don’t overbuy at this stage. Stick to the minimum. As your days go on you will realize what you need and you can find a great deal on pens, papers, folders, and everything else online. You could alternatively just write yourself up a list and head on over to the office supply store after the fact.
The only thing you need to do for your miscellaneous supplies is to be calm and patient. Flooding your office with things you don’t need will make it messy and it’s an unnecessary cost. Wait until you see a need, then fill it.