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OPERATING YOUR BUSINESS

Getting Ready To Operate A Business

Operating a startup can sound very complex with jargons such as logistics, supply chain, product development and procurement. It is always easiest to keep it as simple as possible. Operations is basically how you buy, build and prepare your product or service for sale.

Major areas of operations are sourcing of raw materials, hiring labor, acquiring facilities and equipment, and delivery of the finished goods. The extensiveness of the features will vary depending on whether you’re a manufacturer, a retailer or a service firm.

If you are starting a retail business, you will want to think about things like inventory and distribution while a software company may be more focused on securing office space and computer equipment.

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