Planning ahead

One of the most difficult parts of actually starting a new business is getting around to the finer details. Sure its easy to brain storm your idea and see how it’ll transform the marketplace. Even plotting out how your dream office is kind of fun. Meeting with some research and development folks interesting but not top of the list.

But what about actually making the project work? That really needs some thought. One advantage that modern companies have is the use of business analytics software which can help out with the planning process. Actually it would be crazy not to use some software so that when your idea actually starts to take off you have some systems in place.

Without setting up some systems you can find yourself in some very complicated situations if you start to get to busy. When the orders start to arrive you’ll likely be spending most of the time arranging delivery and shipment issues. Thats why its important to set up some budgeting software before hand. You’ll likely find yourself outside the idea delivery schedule in some situations and you need to know in advance if that rush shipping charge from your supplier will put you in the red or the black.

Another key system is trying to plot out delivery issues well in advance. And that is with suppliers and customers. Using some forecasting software can help you avoid some costly inventory issues. You will find that some items used in your production might be better purchased well in advance due to the cost savings and the turn over rate. But stock piling something that offers no volume discount and that is easy to source can eat up valuable cash flow.