When you are planning to start a small business, there are basic products or items that you need for a smooth start-up. While starting a service-based business differs greatly from a product-based business in terms of start-up products, there are basic items that will benefit any small business during the stressful months of getting started.
Business Plan and Bank Accounts
You will need a solid business plan to start a small business. Although it is not a product that you can buy, it is necessary to get a business bank account, which in turn will supply you with items for your small business. The business plan needs to have an executive summary, a business profile and target audience description, marketing ideas and strategies, key players in the business, operations chart, a list of risks and solutions and a financial section that outlines the budget. A business plan must be presented to your banker to get an approved business account in most states.
Filing Cabinet
A filing cabinet is a product that is highly recommended during your small business start-up phase. As you get clients or customers, receipts and contracts will start coming in and you will need to stay organized for both clients and yourself. Receipts and invoices are needed for your taxes, so a filing cabinet can help you stay organized from the very early stages of your small business.
Home Office
If you are running a service-based business, such as writing or website design, you might find yourself sitting behind a desk most of the day or even in front of a computer. If this is the case, you will need to purchase a large desk where you can do your professional work, while being available to clients during work hours. You will also need a comfortable chair to avoid back pains and body aches while working behind the desk.
Equipment for Products
If you are running a product-based business, such as a cookie business, personal crafts or homemade wooden furniture, you need the equipment to produce these products. This equipment needs to be purchased before you can start producing your products for customers. This expense needs to be accounted for under your start-up fees.
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