Most small business owners and entrepreneurs will tell you that starting a business requires a ton of effort. While your new business idea may seem promising, it will only be as successful as the effort you put into it. Tasks like developing a business plan, securing funding, and registering your company may seem obvious, but there are other important steps you need to take to ensure that your business gets off the ground without a hitch.
Whether it’s coming up with a digital marketing strategy or finding a business model, the work involved in starting a business can feel endless, especially if this is your first business venture. If you or someone you know is struggling to get your business from the idea stage to a real entity, keep reading as we explore five key things you need to know about starting a business in Denver.
Invest in business insurance.
When going into business, investing in a small business insurance plan is a great first step in protecting your business is against eventualities. If you’re in the legal, accounting, or medical field, for instance, your new law firm or medical practice may benefit from a professional liability insurance (PLI) plan. PLI protects professionals from the potential legal claims such as misrepresentation, negligence, errors & omissions (for real-estate agents), or medical malpractice that may be filed by their clients. This type of insurance is beneficial to professionals as it offers protections that general liability insurance policies do not.
Assemble the best team for the job.
Hiring the right people for your small business is an important step. This is because the people you choose to work for you will be crucial in helping you bring your business idea to life. For this reason, you need the best team behind you. Having the resources to bring in new talent can seem exciting, but in some cases may also be anxiety-inducing. Knowing this, companies like ZipRecruiter exist to make your hiring process seamless and offer you peace of mind.
ZipRecruiter is an HR solution trusted by over 100,000 thousand companies in the United States in their hiring process. It makes it possible for you to post job openings on over 50 job boards, job sites, and social media platforms, consequently allowing you to recruit candidates using a single system. ZipRecruiter is free for job seekers, and it allows these potential candidates to find your job post on job boards or even the ZipRecruiter platform itself.
After job seekers apply for advertised open positions, you as the recruiter will be able to see their application on your ZipRecruiter dashboard. The platform alerts you, the recruiter when new applications are received, while also letting the job seeker know when their resume has been viewed.
ZipRecruiter has a tiered subscription plan that is beneficial to you if you only intend to put out a handful of job postings in a year. ZipRecruiter offers a four-day free trial job posting option, but if you want to advertise your job opening for a period longer than this, say a 30-day posting for instance, then a paid subscription will serve you better. For more information on their monthly subscription or how the ZipRecruiter free trial works, visit the company website at ziprecruiter.com.
Invest in branded office supplies and stationery.
How your business communicates influences how you are perceived by your target audience. Personalized business stationery is a great way for your new small business to make a first impression, and it is imperative that every new business invests in this. Branded office supplies can include multi-purpose tax return envelopes, printer letterheads, notebooks, invoice slips, pens-to mention a few.
Dressing up your tax returns or any other courier mail dispatched from your office is a great way to project a sense of professionalism. When it comes to the IRS and tax returns, most branding companies have customized sizing options tailored to fit your W2 forms,1099 misc, and all business tax forms. They also offer a variety of multi-purpose envelope designs guaranteed to meet your mail delivery needs.
Rent out a self-storage facility.
Getting organized is a great first step in making sure that your business stays profitable while improving performance. However, most business owners do not usually know where to start especially when it comes to decluttering the office space. To counter this, consider renting a self-storage facility near your place of business.
To begin with, a self-storage unit can help you with documentation. If your business involves handling sensitive documentation—tax and employment documents regularly, for instance, then a self-storage unit can be a great help in making sure that these documents are easily accessible, while ensuring that they are kept safe from potential damage. The best self-storage units in the downtown Denver area have in-built climate control settings to help archive your confidential documents while keeping them protected from discoloration and other potential elemental damages.
In the initial stages of business relocation and renovation, renting public storage can help you store your inventory cubicle dividers, file cabinets, computers, and office furniture, temporarily. Be sure to consider a self-storage company that also offers moving services like trucks, as this will further simplify the moving process for you. Storage space and storage solutions vary from business to business, and as your business grows, so could your need for potential storage space grow. Accounting for this, make sure that you select a storage facility that provides a variety of unit sizes.
Additionally, most cheap storage units near Denver offer 24/7 security video surveillance, padded with individual alarm systems, and passcode entry gates for added security.
Make sure your employees are well fed and hydrated.
Employees are the life-blood of any business. Knowing this, investing in your employees’ wellness is a great way to help keep them motivated. One simple way to do this is by installing water coolers or water dispensers in your office. Making sure your employees are well-hydrated can reduce instances of fatigue and dehydration while giving them a much-needed energy boost.
Additionally, if your business is still growing, a water dispenser with options for both hot water and cold water can eliminate the need for kitchen staff as employees can fix themselves small snacks such as noodles and instant soups. Further to this, they are easy to clean, which makes them less susceptible to the build-up of bacteria as experienced in most kitchen equipment.
If filtered water and healthy snacks are readily available for free, your staff is more likely to avoid the temptation of opting for a carbonated beverage or a bag of chips. If your business requires your employees to speak for long, for instance, answering phones throughout the day, then having easy access to water can help them stay alert and avoid dry mouth.
Installing a water cooler and providing simple, healthy snacks is pocket friendly as durable water coolers and dispensers are available at every price point and snacks can be bought in bulk. Additionally, rental options for water coolers are also available.
It is important to note that mistakes are to be expected. They are natural, but the best thing you can do for yourself is to learn from these mistakes. Stay open-minded, adaptable, and flexible as you launch your new business. You’ll be on your way to success in no time!