The Start-Up Resource Blog
  • Ideas
  • Entrepreneur
  • Marketing
  • Finance
  • Business Growth
  • Work From Home
No Result
View All Result
  • Ideas
  • Entrepreneur
  • Marketing
  • Finance
  • Business Growth
  • Work From Home
No Result
View All Result
The Start-Up Resource Blog
No Result
View All Result
Home Business Growth

Taking Your Cottage Industry to the Next Level

Taking Your Cottage Industry to the Next Level

All businesses must start somewhere. While many startups seemingly pop up out of nowhere – fueled by venture capital and angel investors – others have more humble origins.

Many people operate small businesses out of their homes. Commonly referred to as cottage industry, modern home-based businesses function thanks to digital services and other technology.

But what happens when your so-called cottage industry outgrows your cottage? It’s time to turn your home-based business into something more established. What that entails will ultimately depend on the product or service you’re selling. However, virtually all cottage industries will need the following in order to graduate to small business:

Legal Requirements

Many home-based businesses operate without the proper licensing and other legal requirements. While you can probably get away with making candles in your garage, things get more complicated when the business grows into something more official. Consult the Small Business Administration’s guide to starting a business to learn what you need to do to make sure everything is nice and legal. From permits to zoning, the last thing you want is to have your expanded business shut down due to violations. With this in mind, make legal requirements the first thing you figure out when taking your cottage industry to the next level.

Order fulfillment

The majority of home-based businesses rely on e-commerce solutions to connect with customers. When these ventures expand into full-fledged small businesses, owners must scale their e-commerce tools accordingly. For instance, third-party order fulfillment services help keep logistics streamlined, letting small business owners focus on running their company rather than monitoring shipments. These solutions also help to keep costs low.

Better website

Chances are your cottage industry enterprise has some sort of online presence. While a basic website works for the side-hustle stage of your business, expansion means enhancing that presence to match your growth. You need a business website with functional design and a practical interface. Visitors shouldn’t be confused about where to go to make a purchase. Consider hiring a web designer to help build a website worthy of your newly established small business. Doing so will cost more than doing it yourself, but having a solid business website is too important to leave to chance.

specific workspace

The shift from a basic home-based work environment to a dedicated building is the most major and obvious transformation from a cottage industry to a small enterprise. Don’t hurry; it will take time to find the ideal workstation. Local industrial courts are recommended since they often include the most cost-effective and useful possibilities for business space. However, if foot traffic is a concern, an unmarked facility hidden behind dozens of other buildings may not be the ideal choice. To discover the ideal workplace for your small company, think about consulting with a commercial real estate specialist.

Equipment improvements

Another scalability issue is the gear and equipment required to create goods at the pace necessary to satisfy additional clients. For instance, creating labels with a small inkjet printer won’t be feasible anymore. An industrial-grade label maker is required. The good news is that scaling will be simple for most commercial equipment; you only need to switch out tiny versions for larger ones. To save money, think about purchasing equipment that has been certified used.

hiring personnel

If your cottage enterprise employed anybody, it was probably family members assisting. But now is the moment to bring on reliable workers. Although the recruiting process may seem challenging initially, practice will make it simpler. Getting individuals to apply for positions at a firm they’ve never heard of will be challenging. Consider working with recruiters with this in mind.

Purchase of insurance

Every small company has to get business insurance. You should already have some kind of supplemental insurance coverage for your cottage industry firm, as most homeowner’s insurance plans don’t cover business-related activities. Your insurance coverage will also need to grow as well as you transition into a fully-fledged firm. The good news is that most commercial insurance plans are reasonably priced.

Marketing

The publicity your business receives from its current clientele won’t be enough to generate significant brand recognition. To reach the intended audience, startup marketing investment is unavoidable. Fortunately, digital marketing options provide low-cost ways for small companies to raise brand recognition and enhance sales. Given the chance that your company will have a significant online presence, digital marketing will be not only economical but also useful.

Are you preparing your side company or cottage industry to become a respectable small business? If so, a lot of work has to be done. The good news is that there’s a high possibility your freshly launched small company will get off to a strong start after phase one is over.

Julie Steinbeck is a freelance writer from Florida. She enjoys covering topics related to business, finance, and travel.

 

Tags: business growthbusiness growth chartbusiness growth consultantbusiness growth strategiesbusiness growth strategyorganic business growthsmall business growthstages of business growth
Previous Post

Establishing a Small Business

Next Post

Why Upskill and Reskill Your Employees

Related Posts

DevSec Divide Broadens With New Algolia Incident
Business Growth

DevSec Divide Broadens With New Algolia Incident

January 3, 2023
Here are eight ways your company may help the community where you are located.
Business Growth

Here are eight ways your company may help the community where you are located.

November 4, 2022
Why Would You Want to Increase Sales by Using LinkedIn Lead Generation Software?
Business Growth

Why Would You Want to Increase Sales by Using LinkedIn Lead Generation Software?

November 3, 2022
Five Customer Engagement Metrics and KPIs That Are Most Commonly Used
Business Growth

Five Customer Engagement Metrics and KPIs That Are Most Commonly Used

November 2, 2022
4 Vital Information About Your Buyer Persona You Need to Know to Generate Leads
Business Growth

4 Vital Information About Your Buyer Persona You Need to Know to Generate Leads

November 1, 2022
Digital Asset Management’s Next Frontier: Artificial Intelligence
Business Growth

Digital Asset Management’s Next Frontier: Artificial Intelligence

October 31, 2022
Next Post
Why Upskill and Reskill Your Employees

Why Upskill and Reskill Your Employees

No Result
View All Result

Recent Posts

  • Steps to becoming a great leader in business
  • DevSec Divide Broadens With New Algolia Incident
  • What’s the Difference in Methods?
  • A Guide to the Best Affiliate Marketing Programs for Beginners (2022)
  • Your Guide to Getting Started

Archives

  • January 2023
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021

Categories

  • Business Growth
  • Entrepreneur
  • Finance
  • Ideas
  • Marketing
  • Work From Home
  • Home
  • Terms and Conditions
  • Privacy & Cookie Policy
  • Contact
  • Cookie Policy

© 2023 My i Life Media

No Result
View All Result
  • Ideas
  • Entrepreneur
  • Marketing
  • Finance
  • Business Growth
  • Work From Home

© 2023 My i Life Media

This website uses information gathering tools including cookies, and other similar technology. We use cookies to personalize content and ads, to provide social media features and to analyze our traffic. We also share information about your use of our site with our social media, advertising and analytics partners. By clicking “Accept”, you consent to the use of ALL the cookies.
Do not sell my personal information. Ad and Cookie Policy
Cookie SettingsAccept



Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.
CookieDurationDescription
cookielawinfo-checkbox-analytics11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Analytics".
cookielawinfo-checkbox-functional11 monthsThe cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookies is used to store the user consent for the cookies in the category "Necessary".
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-others11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other.
cookielawinfo-checkbox-performance11 monthsThis cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Performance".
viewed_cookie_policy11 monthsThe cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. It does not store any personal data.
Functional
Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.
Performance
Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.
Analytics
Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.
Advertisement
Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.
Others
Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.
SAVE & ACCEPT