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Effective management of digital assets as well as increasing research exposure and impact are particular challenges faced by smaller institutions with limited infrastructure and resources. The paper explores the significant factors involved in considering, planning and establishing an institutional repository for Bond University, one of the smaller higher education providers in Australia. The salient benefits and advantages as well as the disadvantages of implementing an off-the-shelf product as opposed to an open source solution for an institutional repository are compared. The rationale for choosing a proprietary product over an open source solution is discussed, as well as the process for obtaining funding and the support of key stakeholders within the University. The paper describes the strategies employed to populate the repository retrospectively and to train academic staff and researchers in self-archiving. The development of policy governing the repository and intellectual property and copyright implications are also covered.