The Most Important Small Business Assets

When it comes to operating your own business there are a multitude of factors to consider to make it a success. You could have one of the best business plans in the world but without certain foundations in place, you won’t get it off the ground. Whether it’s something as simple as making sure your files are backed up, to the design of your personal work space – you need to be aware which assets you need to focus on to make your business flourish.

Office Space

The physical work space plays a huge role in productivity. You need to be comfortable and willing to stay there for hours of the day. This is particularly important if you’ve just designated an area at home to be your work space. There are plenty of design factors you need to be aware of – such as: making the most of natural light, a supportive chair, and all the equipment you need to get the job done. Don’t forget, a benefit of working from home is that you can put some homely touches in the office. It doesn’t have to be a minimalistic. Feel free to add photographs, plants and perhaps a comfy sofa you can sit to have a break on when you need to. When it comes to designing your own office you can make it exactly the kind of space you know you will work best in.

Car

Even if you work from home, you need a car to go out and meet with your clients. You shouldn’t have to constantly rely on your clients making their way to you, it needs to be equal. Meeting with clients regularly is vital in order to keep communication between the two of you consistent and clear. An important thing to remember when establishing new customer relationships or growing your business network is that you’re dealing with people, not just potential profit. There is still so much value in face to face meetings and making that human connection.

Insurance

One of the most important steps you should take when it comes to acquiring assets for your business is making sure you’re insured. In an ideal world you want your business to go smoothly from start to finish. Unfortunately, you need to be prepared for the worse possible outcomes. This is where insurance comes into play, it can give you peace of mind and you know you can land into a safety net. You need to make sure you’re covered on all grounds. If you are working from home, your household insurance won’t cover your business losses. So make you’ve got your equipment insured. According to the Office for National Statistics, 58% of self-employed people use their home for work purposes to some extent. Going outside of the office, you also need to ensure your car has a warranty. For this, you can use GAP Insurance, as they have a great range of deals to suit your needs.

Computer Records

The world of work has combined with the world wide web – everything is online. At various points you will be contacting your clients, networking and focusing your business online. It is far too easy to assume everything will be saved somewhere in the archives of your computer. However, similar to the mindset you had when getting everything insured, you need to be equally prepared for something to go wrong online. Systems crash or corrupt, and memories are wiped. You need to have a system in place where you have records for all the work – and others in the company – have done. This can be in the form of a physical hard drive to multiple cloud back-ups. Find a system that works for you and stick with it.

Well Being

An important asset to remember with your business is you. Whether you have been building your company for years or are just starting your self-employment journey, you need to look after yourself. As it’s your business it’s tempting for you to shoulder all of the work, but you don’t want to burn yourself out. You need to look after yourself, give yourself a manageable work load and hire help when you need to. It’s important to maintain a balance between life and work.