Question: Hello Sir, I am working as a sales professional in a leading packaging company. I earn 60k monthly. Since my job requires a lot of travelling, I am staying away from my family. I am fed up of this hectic schedule. I am looking for a change by starting an own business, but the problem is that I have no idea on which area I should start. Apart from that, I am running out of funds also.
Looking forward for a valuable response, Cheers.
Answer: Hi Rahul,
I appreciate the confidence in you of starting up your own business and being your own boss, but it is not that easy as you put it up in words. There is a lot of homework to be done behind the idea; it is not only for packaging business, but for any other type of business also. Earning 60k and living without family is a tough task. I would say if you are more determined of running your own business, and your family well, then there is no need of thinking over you can strike the deal of starting your own packaging business.
First of all a starting a packaging business is an apprehensive task, if you are not very much sure of where you have to start. You can be successful in this business unless or until you know the nook and corner of the industry. First and foremost learn more about the industry. Analyze what is the requirement of the customers; this may help you to hit upon more ideas for starting your business. Keeping in mind the main motive of the business is essential. Here, in a packaging business you should be more focused on serving the customers by packing their goods for storage without damaging. It is important that you first prepare you’re to do list prior to commencing your packaging business. I am just listing out few points which would be helpful for you to know your priorities.
- Hiring employees
- Acquiring business license from the finance departments
- Assessing the capital to start the business
- Choosing a suitable location
- Acquiring insurance
Apart from all this, analyzing the market and communicating with professionals by conducting short meetings is very important. You should always remember that the first thing the customer sees in a product is the packaging. In today’s business industry, you have plenty of people trying new ideas to capture the hearts of the customers. All you have to do it to try something new and innovative, so that your work would be highlighted among others.
Learning each and every small things like, how to gain the business, managing the resources, trying to reach the potential customers, maintaining the growth etc is essential to keep a stand in your business. Once you have gathered all the above mentioned requirements, it is essential that you enter for a groundwork job, where you have to first learn the way the goods are to be packed without creating any damage. You can learn this skill by getting some training from experienced packers. Once the skill has been learned, doing research on the localities where the demand for your business is high is essential.
Investing on good quality of materials like tapes, sheets, boxes etc., for packing purpose will yield you more demand. Contacting the manufacturing business in person will also get you more opportunities. When once you are ready with all these, you can provide advertisements or create a websites providing your company name and the facilities offered, this would attract more customers in your business making it grow higher. As the saying goes….. People are judged by its covers, every product also would be attractive if it’s been neatly packed. Therefore it is important that you combine the right points with right design to target flock of customers.
All the best for your new venture.