Tag Archives: business

How do you start the idea process? “MY OWN BUSINESS”

Many people believe starting a business is a mysterious process. They know they want to start a business, but they don’t know the first steps to take. . . . . .
Understand that business startup isn’t rocket science. It isn’t easy to begin a business, but it’s not as complicated or as scary as many people think, either. It’s a step-by-step, common-sense procedure.

First step: Figure out what you want to do. Once you have the idea, talk to people to find out what they think. Ask “Would you buy and/or use this, and how much would you pay?” Determining what you want to do is only the first step. You’ve still got a lot of homework to do, a lot of research in front of you. One of the most common warnings you’ll hear is about the risk. Everyone will tell you it’s risky to start your own business. Sure, starting a business is risky, but what in life isn’t?

One of the best ways to determine whether your idea will succeed in your community is to talk to people you know. If it’s a business idea, talk to co-workers and colleagues. Run personal ideas by your family or neighbors. Don’t be afraid of people stealing your idea. Just discuss the general concept; you don’t need to spill all the details.

Hopefully by now, the process of determining what business is right for you has at least been somewhat demystified. Understand that many people around you won’t encourage you (some will even discourage you) to pursue your dream. Some will tell you they have your best interests at heart; they just want you to see the reality of the situation. Some will envy your courage; others will resent you for having the guts to actually do something. You can’t allow these kinds of people to talk you out of starting your business or influence you to stop your journey before it even begins.

What will you lose if things don’t work out? Don’t risk what you can’t afford. Don’t risk your home, your family or your health. Ask yourself “If this doesn’t work, will I be worse off than I am now?” If all you have to lose is some time, energy and money, then the risk is likely worth it. Van Nuys Offices

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Moving Your Home Business to an Office

The decision to relocate has to be made with specific regard to the future of the business. It needs precise planning and research, the establishment needs to be faultless and the owner needs to be sure that relocating is the answer for his/her business future. Once you have made the decision to move your home business to an office, you have some planning to do.

The advantages of moving out of your home office comes down to increased professionalism, more space to work and unlimited growth potential. And less much less distraction. Renting a small office at a good price can be very meaningful.

The first decision you make when you have already decided to rent an office, should be your desired location. It’s usually a good idea to start looking at offices near your house to avoid a long commute. Of course, while this is the ideal option, it may not work out perfectly when you consider other details that greatly affect your business. You need to make sure the new location reaches your target audience, so do some research of the surrounding area to find out who lives near the building you are considering. Try giving Van Nuys Offices a call, they have small offices for short terms and for only $195 a month.

Second thing you should consider highly is making sure that all your office furniture, including desks, filing cabinets, and bookshelves, will fit into the new office space. Make sure you leave room for expansion, especially if you plan to hire a few employees soon. Also, consider where customers will sit when they come into the office. Draw a layout, measure your furniture and move your furniture around so that you can get an idea of how much square footage you will need.

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Last thing after you have found your perfect office, you signed a lease, and now you’re ready to start running your business from the office. DON’T FORGET to update your address on all your licenses, bank account, vendor accounts, post office, and all your stationary. If you regularly get inventory shipments, you need to let the distributor know your company’s new address ahead of time. This can prevent you from having to move merchandise shortly after it is dropped off at your house, so be sure to update your business address. You will have to do the same for your mail and any marketing materials that feature your current address.

Get Approved for a Small Business Loan

Launching a business requires capital. Even when a business is already up and running cash flow is important to keep things running smoothly and to allow expansion. Many businesses find there are enormous benefits from getting a small business loan.

There are a variety of financing programs that give emerging businesses the boost they need to expand and grow into a “bankable” enterprise that generates new jobs and strengthens the economy. Normally you have to have two to three years of solid financials before a money lender like a bank will even consider lending you money. Often you need to have a strong personal credit record to be eligible for a decent business loan from start-up.

There are other lenders that offer business loans specifically for start-ups so the process is easier now than it was a decade ago.

Such lenders can furnish you with a loan of the capital you require in order to get your business start-up running or to take your existing business to the next level. Getting approved for a business loan from a bank with a credit score of 650 or less can be extremely difficult. Before a lender approves your small business loan application, they will want to be certain that your business is capable of repaying the loan. This is why it’s so difficult for startups with unproven operating histories to obtain loans. In order for you to stand a chance in getting approved there are some steps you will need to take.

1. Check Your Credit History
It’s a good idea for business owners to check their credit histories before trying to get a loan. Correcting erroneous data or resolving any inconsistencies before applying for a loan will increase a business’s chances of getting one.

2. Research Potential Lending Institutions

Before you start applying for loans, you should gather some basic documentation about you and your business – such as a demonstrably good income record. The most important measure banks use in determining whether to loan money is the company’s ability to repay. Always try to approach a bank that is familiar with your industry and target market.

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3. Create a Cash Flow Statement

A cash flow statement is a familiar financial statement to the banker and provides the banker with an understanding for the current assets and liabilities of the company. Banks prefer more assets than liabilities. In order to create the projected cash flow statements, you will need a detailed business plan. This is also something a bank will want to see before they approve your loan. The plan should be part of your loan application. You should focus on the details within the plan that explain how you will use the loan proceeds.

4. Invest in the Business
Invest your own funds. Lenders like to see personal investment. It is a sign of commitment. Wait until you can afford to invest your own funds before requesting the help of a lender. In general, a lender will help you to subsidize your total funding need, but will be reluctant to provide you with the entire amount.

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What to look for when leasing a space?

The best thing to do when you need to lease an office space is to follow this easy steps. Once this is assessed, you want to evaluate how much space you will need to expand once your business becomes successful and can hold more people.
DON’T RUSH GIVE YOURSELF SOME TIME
Give yourself time to find and lease an office space. Finding the right space for you and negotiating the terms of the lease with the landlord can take much longer than expected, sometimes even months. You don’t want to end up unhappy with your lease or your space because of time restraints.
AMOUNT OF SPACE NEEDED:
Your office space should be big enough to accommodate your clients and workers. Make sure that you have enough room to efficiently operate and run your business. For most business starters, a smaller office is recommended, and as they grow their clienteles, changes may be made. Make sure that the office space you are renting is most appropriate for the business that you are going to run.
BUSINESS IMAGE :
Don’t underestimate the value of appearances. How your office looks can have a huge impact on business & investor relations so it is crucial that the premises you choose match with the image you want for your business. It might not matter to some businesses what their building looks like, but if you need to impress a steady stream of clients who come to visit you, it might be better to spend a little more looking for a nicer building. For example, a corporate solicitors firm operating from above a nightclub doesn’t give the best first impression.
TERMS:
How long is the lease term? The property owner usually wants you to commit to a longer-term lease. If you are willing to do this, you should receive concessions in the form of free months of rent or help paying for build-out. If you’re looking for something a little more flexible, consider a six month or month-to-month lease. Many standard office spaces will have a one or two year lease. If you’re just starting your business and aren’t quite financially stable, you may want to opt for a shorter lease, which won’t be as financially detrimental if cash gets tight.

It seems like a lot of things to take into consideration, but when you finally do find that perfect space for your business, you can rest assured knowing that you’ve covered all of your bases. Finding a space in which your business can grow and prosper is important, and once you’re settled in, it will be worth all the time and effort. Keep these tips in mind and you should easily find the perfect office suites for your company!
Van Nuys Offices offers office solutions to meet any business’ needs and budget.
Looking at offices for rent? contact us today to schedule a tour of our executive suites and other office space options.

Setting up Your New Office on a Budget

One of the most exciting part of starting up a small business is when it’s time to set up office space at your new business location. You have to purchase furniture, equipment, computers, business machines, supplies (like paper and paper clips), shipping materials, and décor for your office. And we all know that this may be a huge expense. There are ways to keep the expense down if you create a budget and plan your purchases accordingly. Van Nuys Offices.

There are so many second hand stores where you can find great buys on office furniture that are used but look like new. Choose a theme for your office and keep it in line with the type of work you will be conducting. Also check the local newspaper for any businesses that may be closing up as they will be selling off their furniture as well. There is no need to purchase new office furniture during your startup phase. For example, place the printer on top of a file cabinet rather than buying a separate table for it. Van Nuys Offices.

Besides the design of your office and furniture, you also have to start listing the various types of machines and equipment that you need in order to run your business efficiently. For instance, instead of purchasing a fax machine (which range from $100 to $200), keeping a supply of paper for it (between $3 – $5 per ream regularly), and the cost of an extra phone line (between $10-$40 per month), you can just get an online fax program.. You can send and receive faxes for your business and only print the faxes you need, for just $10 per month. Van Nuys Offices.

Now that you have the furniture & equipment you need for your office, it is time to supply it. Buying in bulk is a great way to save money if you have the storage space to keep the excess supplies. I recommend buying the generic brand for these basic office supplies. You will buy them at a lower cost and save a substantial amount of money. Generic products are a great business supply, and they are relatively cheap and inexpensive office products. You will hardly know the difference between them. Van Nuys Offices