5 Quick Tips For A Kickass Business Structure
That’s right – we’ve got some kickass tips for a kickass Maker, aka YOU!
There is so much to consider as you’re building your brand and figuring the ins and outs of your business.
You’re not only a creator of unique and innovative products, but you’re also becoming a true business owner and that means taking the reins on branding, pricing, finances, and a whole lot more. As you’re learning what works and what doesn’t, here are some helpful tips to consider as you build your business.
invest in a business course
You don’t need a business degree to start a business, but you should learn some basics to help you get started. There are a ton of resources available out there - whether it’s taking a course at your local community college or finding one online, it’s important to invest in foundational business knowledge so you know what is necessary to get yours going and keep it afloat.
choose tech that can scale
Technology is an amazing asset for business owners and if you’re going to be selling your own products, it’s important to choose high quality pieces of equipment and programs that are designed to grow with you.
If you’re looking to buy a new computer to help you design marketing materials or store important business information, you’re going to want one that can do these things efficiently. Starting a website? Choose one that fits YOUR needs and one that can grow with you as your business grows. Always think ahead and plan for future needs when it comes to tech purchases.
keep track of your finances
Keeping track of your finances may seem stressful, but it doesn’t have to be if you have the right tools. We highly recommend using quickbooks or excel as they are geared to help small businesses and startups.
There are also courses you can take online to help you learn how to use these tools effectively and efficiently so you’re not stuck trying to learn how to use them on your own. Don’t be afraid to invest time and money in these types of resources as they will help make running your business a lot easier in the long run.
remember that pricing is branding
As you’re figuring out how to properly price your products (we know this can be challenging!), keep in mind that your mindset is what determines your value. By that, we don’t mean to only look at other prices of products in your market as a resource, but to also consider your efforts and the cost of those efforts (i.e. the quality of your products, how much time it takes to create them, your office/studio expenses, plus all the hard costs of your supplies).
Don’t underestimate your value! Your products are probably worth more than you think they are. Check out the following videos to help you learn more about pricing your products:
Watch figuring out your cogs (cost of goods sold), then watch how to price your products.
build relationships with your vendors
Your vendors are a source for a lot of your business’ success. As a small business, connections are key with your customers AND those who help keep your business process in motion. Consider the following to maintain positive and strong relationships with your vendors:
- Effectively communicate via phone calls and/or emails to introduce yourself, your business, and whenever necessary after that
- Pay on-time for any subscriptions
- Provide and ask for lead times to ensure you are on the same page
- Refer your vendors to other Makers whenever possible
Although there are many other ways to efficiently structure your business, these are 5 great ways to start.
Interested in other business tips? Check out our blog on how to ship your products internationally.
Happy making & happy business building!
