When it comes to business success, failure will often come from things that you didn’t think about ahead of time. There are lots of business industry requirements, and not all of them are super obvious. Because of this, it’s no surprise that a lot of businesses that don’t make it to the next phase do so because of things that they should have planned for, but didn’t.
A few examples will showcase this exact phenomenon. If you have a product, you need a good way to ship it. Without planning your shipping processes in advance, you end up in a terrible situation of not being able to deliver on time and budget. Another example would be concerning the loading and unloading of your business products. If you’ve managed to figure out how to ship things back and forth, have you thought about how to get them into and out of trucks? This is a big deal! And a final thought would be concerning security regulations and requirements. If you have a business that deals with medical records, are you familiar with federal rules regarding security? You need to be.
So your small business has grown into a medium-sized business. You are getting more orders for your products. But you will quickly run into a particular logistical issue. And that is that you have to ship your product successfully. There are the costs associated with shipping that you may not have thought of previously. As a business person, you’re aware of the shipping and handling phenomenon, but you may not know how to handle it from a profit margin perspective.
Especially if you have bulk items or things that are heavy, there is the matter of freight loading and unloading. You can either figure out how to develop this infrastructure yourself as your company expands, or you need to hire a contractor to do it for you. There are plenty of companies that have all of the parts and pieces in place, but you need to know how to hire them so that their profit margins don’t get in the way of yours.
How familiar are you with OSHA regulations? If you own or operate a business, then you have to provide a safe place for your employees to work. That may not be something that you keep in mind as you are developing your startup from scratch. However, as soon as you start hiring people, you need to pay attention to federal, state, and local security and health regulations and requirements. If you get on the wrong side of this equation, lawsuits are sure to follow.