Drilling Down: The Essential Components To Starting A Manufacturing Business

Three of the focuses of my blog are Financial Literacy/Money, Business/Entrepreneurship and Technology. A lucrative business to get into is a manufacturing business. The are some key aspects to getting started in this sector. The following contributed post is entitled, Drilling Down: The Essential Components To Starting A Manufacturing Business.

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Photo from Unsplash

When are you are looking to get into an industry that gradually produces lower running costs, increases productivity, and does this all en mass, the manufacturing industry is hard to beat. In many ways, it is the perfect distillation of what a good business can do. Creating thousands, if not millions, of products, to time, perfectly formed, and distributed to the corners of the world. But these days, there are so many of us that try our hand on a smaller scale, whether this is through our own online marketplace, or setting up a brick and mortar shop, don’t realize just how difficult it is to produce these things. So what is the key to setting up a manufacturing business in the right way?

The Right Support Network
Not just in terms of the business support, but also the suppliers that need to keep you going. You’ll realise that after a while, manufacturing business is dependent on the right business model. Every business requires an appropriate model, but a manufacturing one is just a bigger version of the standard business model. Whether this is running a food and beverage processing company, and you need the right supplier for industrial grade epoxy floor coating or you are working with a company that provides equipment for you to undertake your working practices safely, the right support network isn’t just about making your business work more efficiently, it’s about ensuring that you have the right people to guide you along the way.

The Right Location
Setting up a business is all dependent on location. Whether you’ve had experience in running a bricks-and-mortar store, or you work out of the comfort of your own home, the big temptation that we all have is to look for cheap prices. A manufacturing business requires better infrastructure, and the specific areas to grow, not just in terms of distribution, but the transport links, not to mention the skill set of the people that live in the nearby area, are all crucial. We have to find the right workers, but if we set up in a location that inaccessible, it will not last long, and we are wasting money.

The Best Team
While the location will aid a specific skill set, if you don’t have the right caliber of workers, you won’t retain any sense of productivity. It’s always worth speaking to local recruitment companies so you can get a good idea of the talent pool area, but also get in contact with local educational authorities, as they usually have decent information on this sort of thing. Being near to transport links is crucial.

Manufacturing is big business, and this really is skimming the surface of what a manufacturing business can do. It’s very easy to stick to the more antiquated business models. But as the modern workplaces are relying more and more on computers and technology, we’ve got to find the best marriage of man and machine. A manufacturing business now isn’t just about operating cheaply, it’s about the best processes in place so everybody can benefit.

Author: anwaryusef

Anwar Y. Dunbar is a Regulatory Scientist. Being a naturally curious person, he is also a student of all things. He earned his Ph.D. in Pharmacology from the University of Michigan and his Bachelor’s Degree in General Biology from Johnson C. Smith University (JCSU). Prior to starting the Big Words Blog Site, Anwar published and contributed to numerous research articles in competitive scientific journals reporting on his research from graduate school and postdoctoral years. After falling in love with writing, he contributed to the now defunct Examiner.com, and the Edvocate where he regularly wrote about: Education-related stories/topics, Science, Technology, Engineering and Mathematics (STEM), Financial Literacy; as well as conducted interviews with notable individuals such as actor and author Hill Harper. Having many influences, one of his most notable heroes is author, intellectual and speaker, Malcolm Gladwell, author of books including Outliers and David and Goliath. Anwar has his hands in many, many activities. In addition to writing, Anwar actively mentors youth, works to spread awareness of STEM careers, serves on the Board of Directors of the Friends of the David M. Brown Arlington Planetarium, serves as Treasurer for the JCSU Washington, DC Alumni Chapter, and is active in the Dave Ramsey Financial Peace Ministry at the Alfred Street Baptist Church. He also tutors in the subjects of biology, chemistry and physics. Along with his multi-talented older brother Amahl Dunbar (designer of the Big Words logos, inventor and a plethora of other things), Anwar is a “Fanboy” and really enjoys Science-Fiction and Superhero movies including but not restricted to Captain America Civil War, Batman vs. Superman: Dawn of Justice, and Prometheus. He is a proud native of Buffalo, NY.