Third step is to set up the Business Basics for Supply Chain Management Jobs
A key to changing your strategy to manage your career in a way that generates opportunities requires a shift in thinking. A must is to shift from an employee mindset to a business mindset, where you set up your career like a business and begin running your career like a CEO of a business.
So, the next step is to lay down a foundation for your career, just like a business that you can build on, so get down to the nuts and bolts of starting a business.
There are several things you have to do to set up your business.
Figure out Costs. It doesn't have to take a great deal of money to start a small business, but there's usually some investment, and you'll have to figure out where that money will come from. Costs include things like licenses and permits, legal fees, insurance, basic marketing, rents or rental fees, event funding, and so on. Create a spreadsheet and brainstorm every single expense you might need.
Set up a Legal Entity. Your business needs to exist as a legal entity. Setting up this part of your business depends on the location where it's based. Each country and municipality has its own rules for doing this. Part of this step is choosing an official name for your business.
Paying Taxes. This also depends on where you set up your business, but you need to have a plan in place for paying taxes. This can include setting up a tax ID. You'll need to add filing taxes into your business operations and outsource to a specialist if necessary.
Take Care of Insurance. You'll have insurance liabilities you'll need to take care of, such as business premises and any staff that you employ. If you offer a service like coaching or consulting, make sure you have insurance against professional negligence.
Intellectual Property Rights. Secure intellectual property rights over any products you develop and any content you create.
Terms and Conditions. Write out your Terms and Conditions or Terms of Service and prominently display them on your website and other important materials. These should cover areas such as ordering, pricing, delivery, returns and refunds, risk, and confidentiality. Include everything your customer needs to know before buying from you.
State your privacy policy. Write a statement that tells customers how you protect and use their data. Include all data you gather, store, or manage. This is an important legal requirement. Regulations are getting progressively stricter and consumers are increasingly aware of privacy issues, especially when dealing with companies online.
Get paid. Figure out how you'll get paid for your products and services and set everything up you'll need for taking payments.
Next Steps:
Research the country and region where you live and make a list of all of the things you have to do to get your businesses officially started. Create a spreadsheet with every expense you'll have getting your business set up.
RFX Academy supports your efforts to set up your career like a business.
Learn more here: https://supplychainmanagement.consulting