What to Know About Manufacturing Your Own Products
You may be the owner of a small business, which is your dream come true. You likely want to have complete control down to choosing the material your product is made from and where it is purchased. Here are some ideas that could help the manufacturing aspect of your business run more smoothly.
When you first started out, sitting in your office working late nights while you put together your products, you had it handled on your own. Now, thankfully, with business taking off, you need some help. You likely want special people who have the same drive and commitment that you do. You can start small with a few employees but soon you will need a bigger space and someone to run it for you when you’re dealing with other aspects of the business. You are looking ahead another six to 12 months when you foresee needing a space large enough for 20 or more employees. Not only that, you will need suppliers, an accountant and payroll person and maybe an HR department, which can help with finding the right employees.
Be specific about what you need but be willing to be somewhat flexible. The type of business you have determines some of the ways you operate. You will often hear the terms “lead time” and “cycle time” used interchangeably, but they are different calculations with different functions. Lead time is looking at the whole process as if you are the customer. From the minute you contact a company until the minute you receive your order, that is lead time. Cycle time is looking at it from the company’s point of view. From receiving an order from a customer to the time the order is made, packaged, shipped and received by the customer, that is cycle time.
You’ve been hearing the word a lot the last few years – branding. What is it and why is it important to your business? In today’s world, branding is so much more than a logo. You want your brand to grab the attention of your potential customers and tell them a story about why they want to use your product and how your product will positively affect their life. Your brand will assure your customers that your product belongs, yet it is unique in some way. It will let your customers know why they would be proud to be associated with your company and what your product has to offer them.
Manufacturing your own product will empower you. From the prototype you made in your front room, to hiring employees to help you pursue your dream through the expansion of your business in an actual manufacturing space, you will learn and grow as your company serves new and repeat customers.
Contact us for your business’s branding and marketing needs.