As 2018 comes to a close, Pack Protocols LLC is celebrating being in business for over five years. The duration may not appear to be long, but consider this: Over 80% of businesses started will not make it past five years. Company longevity is hard to find these days; especially with ever changing business models and practices. This is what makes companies like Zildjian Cymbals impressive (established in 1623).
Pack Protocols LLC would like to reflect on their first five years and share tips based on their endeavors. Who knows? One of these may assist with your business getting established and possibly reaching the five year mark.
Year 1: Don’t start a business without research and knowledge.
Prior to Pack Protocols LLC being established in October of 2013, the founder was contemplating starting their own business. He saw a need for technical packaging engineering consulting. The soon to be owner may have been technically savvy, but had to learn the business world and the space they would be potentially working in.
To achieve this, the founder began to explore other avenues and researched how to start and run a business. Countless hours were involved learning what was exactly needed to initiate a business, comply with laws, and have it functional.
Year 2: Have a support team to help your business.
For most businesses the first couple of years are difficult and crucial. Let’s be honest: The majority of companies starting out are not going to be making millions of dollars. New companies are on limited budgets trying to compete with larger established firms. This is why it is imperative from Pack Protocols LLC perspective to obtain a support team.
Whether the team is made up of family, friends, acquaintances, etcetera; any support should be welcomed. For Pack Protocols LLC, it was all of the above in addition to multiple mentors.
Year 3: Be prepared to get knocked down, and get up again.
In business, trying to be relevant and sustainable can be a real challenge. Trying out new techniques may seem odd at first and have unwanted outcomes, but in the end the business will be able to learn and grow from these experiences.
Pack Protocols LLC attempted a new strategy with a potential customer. Ultimately, the new strategy resulted in failure. Instead of focusing on the failure; we learned from our mistakes. We moved on to the next project knowing that strategy would not be beneficial in the future.
Year 4: Don’t let the business affect you personally (physically and mentally).
Running a business is challenging. Probably one of the more difficult things to do in a human’s life. It’s vital for any firm to support their employees and not let them become completely consumed by business. Indeed there are times where business will be part of personal life and vice versa. It’s acceptable and healthy to take a step back focusing on other aspects of life besides business.
Year 5: It’s OK to say no, and everything will be alright.
Many businesses are trigger happy and like to say “Yes” to projects before understanding the complete details. Regardless of what type of business you’re apart of, the opportunity must be in alignment with both companies beliefs, values, or models to work. If there are points of contention or an uneasy feeling when interacting with the other company, sometimes the best approach is to say “No” and walk away. It’ll be in your company’s best interest.
If your business would like to collaborate on future projects or converse about business, feel free to reach out to us at [email protected] or call us at 657-204-6093. We enjoy helping others with their packaging and business needs!