How to Become a Start-Up Entrepreneur in Oxford
As the first quarter of 2021 draws to a close, you might be thinking of how the rest of the year will pan out. It will be a gradual return to normality for many people, while others want to make some major changes. If you’re one of the latter – maybe you’re thinking of going in a different career direction? The question is – how does someone begin the process of starting a business in Oxford?
The first thing to consider is the costs of starting a business and finding a suitable niche to work in. You might need to spend the year preparing if there are skill gaps to bridge and funding to raise. This article will go through some of the options you might consider. Additionally, we’ll highlight ways of creating and maintaining a lean budget.
Becoming Your Own Boss in 2021 –
Isis Removals works with several entrepreneurs, and we’re always intrigued to hear what they do. For some, the drive to forge their path was impossible to ignore, and they were happy to balance the risks. Many others may find themselves twenty years into a job, and it becomes tiring having no control. Equally, those unfortunate to lose their positions during the lockdown do this as a necessity.
If any of these examples sound familiar, it might be time to start your business and join the tens of thousands doing it this year. It takes plenty of preparation, including raising capital and planning how you’ll cover household expenses. For any new venture, the first year is the tipping point of whether you sink or swim. Survival is the ultimate goal, and there are ways to encourage successful outcomes.
For this reason, it’s usually better to save money while you’re still in full-time employment. It might seem a bit deflating to suggest you’ll need to keep working but having something to work towards will make things more palatable. And when the time is right, Isis Removals will be here to act as one of your partner companies.
What Industry is Right for You?
You probably have a good idea of what sector your business’s concept will fall into. However, it’s still necessary to do some research on how your niche will perform and if there’s a market for it. The answer is, in most cases, there’s always an audience. You’ll need to work out how to reach them, which is all part of the process.
While undertaking this homework, you’ll come across other competitors in your industry you can learn from. Look for ones who have a stand-out social media and online presence and note what style of posts they make. You’ll need to produce content or a website of a similar quality, which is worth bearing in mind.
In our previous section, the suggestion was to save money and plan for at least twelve months. To have a decent initial fund and some living expenses, we advise you to put ten-to-fifteen percent from your current wages into savings. This is a guesstimate, and you’ll need to cost the initial year of trading fully. That’s why you’ll be putting together a comprehensive business plan.
It’s also worth seeing what funding opportunities are available, in addition to finding networking events. The Oxford Chamber of Commerce and Oxford City Council will have relevant information on grant applications and any business socialising workshops in your area. And if you have an innovative product, using a crowdfunding platform like Indiegogo is an excellent way to raise funds.
Time Management – In-House or Outsource –
How you manage your time will shape your business’s operational structure. This is where a business plan becomes more than simply a document. By constructing your project, you’ll know what you can realistically undertake and others you’ll need to outsource. Time equals money, so you’ll need to calculate this accurately.
If you have a basic understanding of social media, you might be tempted to do this yourself. A point to remember – using Facebook and Instagram for professional purposes is very different from casual use. Both require the technical knowhow and psychological nuances of marketing to reach your potential customers.
If you’re saving for twelve or twenty-four months, it’s also a good idea to see where you can upskill. One suggestion is to learn social media and website analytics to gauge how effective your online presence is. Another is to write all your content, like blogs, yourself for the first year or two. You can always hire people or outsource these things later when you’re profitable.
Your business plan needs to include a robust costing exercise that goes into sharp detail. Leave no stone unturned, and if possible, seek expert advice from a business analyst. To get the pricing information, start sending emails for quotes for every service and product you’ll need. This is an action point you can start today.
Man & Van for Distribution; Self Storage for Alternative Workspaces –
Now for some pragmatic ways to deliver and receive goods and materials. Similarly, we’ll suggest an affordable place to work out of. Instead of buying or leasing a work’s van, you can use a man with a van service for all collections and deliveries. Isis offers an affordable man & van package that’s ideal for all your local distribution requirements. It will save you a fortune in vehicle costs, and there’s no contract or commitment to worry about.
Need to find somewhere cheap to rent, but it’s proving impossible? There’s a good reason why people lose interest in starting a business when they encounter commercial rental costs. Fortunately, many of your fellow entrepreneurs saw an opportunity to do something different regarding alternative office or workspaces.
Thousands of start-up companies use self storage units to work out of, saving them hundreds, if not thousands of pounds. Isis has a selection of storage options available, including container and self storage units. It might be possible to rent one storage unit and section off half for an office, the remaining space for any goods or equipment.
By using Isis for your collections and deliveries, you stand to maintain a healthy budget. You’ll forgo the expense of purchasing or renting a car or van, freeing up some of your initial capital. Additionally, renting an Isis storage unit as your workspace will create even more cost-efficiency.
Choose Associate Companies by Reputation –
There’s a truth within the broader context of business – we’re not an island. We need to find reliable companies to work with, ones who add value. Regardless of what industry you’re entering, you’ll need associates who you consider partners. And it’s crucial you align yourself with people and companies with solid reputations.
How would a new enterprise know where to start looking? The answer is simple – use rating platforms to see previous customer reviews. By using Google Reviews, Trustpilot and Facebook (with many others available), you can see what their average rating out of five is. Furthermore, you’ll see written reviews by people who use their services.
It should come as no surprise that Isis Removals is a five-star company, and we enjoy working with repeat customers. Part of our success is down to having additional consumer protection in place. Isis has BAR affiliation and has a Quality Policy to ensure our clients receives the best customer care possible. We’re the right partner company in Oxford for any start-up enterprise.
Isis Removals – Your Ideal Partner for Start-Ups in Oxford –
Starting a new business isn’t an easy road to travel, but the rewards outweigh the challenges you’ll face. One of the benefits of being the boss is setting your hours and removing any obstacles to your earning capacity. The latter point is where a lot of us reach a wage plateau, and it’s impossible to change our circumstances.
Isis Removals works with hundreds of companies every month from Oxford and the nearby areas. Many consider us their partners and use our range of services to keep their costs consistently low. They have manageable budgets that allow them to have an accessible cash flow for investment and procurement needs. It’s a sensible outsourcing option where they can maintain their outgoings.
If you’re thinking of joining the ever-growing number of people trading in the desk job to create their own business, please contact us today. You can utilise our affordable removals services to make cost-effective measures.