Manufacturing Startups: Easy Step by Step Approach to Manufacturing Biz!

I have been receiving quite a number of requests to write down a step by step approach for manufacturing startup, to write down things you should know when it comes to manufacturing startups and so this post series is going to deal exactly with that.

You may like: How to develop a new product ? (practical step by step approach)

I will be writing down a number of detailed articles that will not only make starting manufacturing business way too easy but will also highlight the important, essential aspects that you as an Entrepreneur would need to consider while starting your own manufacturing business.

Honestly, starting a successful manufacturing business is quite a daunting task and very few people are able to make it through the whole thing successfully.

As you may already know, I don’t talk just theory, feel good kind of talk, playing like those con politicians with words rather bring practical, actionable stuff that you can practically apply, measure, see results.

So expect the same stuff in this article series,

Let’s start with first step!

The Initial Startup Idea!

Before starting any business you need a healthy business idea, doesn’t mean you have to look for absolutely new idea, my suggestion would be to never go for absolutely new idea unless you have tons of experience as an entrepreneur, the truth is new ideas fail far more than those other ideas that are called “me-too business”.

So pick an idea that is already worked by tons of successful entrepreneurs, picking such an idea would require you to make market visits, surveys, relationships with people in the manufacturing industry, although making relationships may take time but what’s better, giving couple of months to find that really cool manufacturing business idea to invest your hard earnings or to start tomorrow and then regretting your decision later on?!

Now once you have a really cool idea to work with, next step is to calculate costs, break even, net profit that you will need to make on daily, weekly, monthly basis in initial days of your business.

You will need to calculate raw material cost, supply costs, storage cost, fixed costs, labor cost, manufacturing and packing cost, sales cost, net profit per item, net profit per group of items, price for the wholesaler, price for the retailer, marketing cost, net profit for wholesaler, for retailer etc.

Not only we will need to calculate fixed costs, variable costs, net profit etc but will also consider the overall resources requirements for the given idea, doing a thorough feasibility study, I will be explaining that in the next article.

I hope at the end of this article series you guys will be far more capable to launch your own manufacturing startup, so keep visiting and keep learning plus don’t forget to share it with all your colleagues, friends, future would be entrepreneurs on facebook, twitter and yeah don’t forget to subscribe for more especially if you want practical, actionable stuff.

If you are first time visitor to this kick-ass website of mine and are wondering what kind of practical, actionable stuff I share, please check this a bit lengthy post on starting small business (step by step).

Also don’t forget to check how to do small business branding (super easy!), this post will help you in learning quite a number of practical things you can utilize while branding your own business/startup.

That’s it!

Over to you guys!