Startups are called startups for a reason. There’s really nowhere else to go but, up….From finding the right employers, to establishing your processes from the ground up, you’re building your startup just how you envisioned it from its inception. But there is a method to this madness, we assure you. While it would be fun to impulse-buy ping pong tables and electric scooters for the whole office, it’s simply not feasible on a startup budget.
TL;DR: you’re going to have to do some picking and choosing when it comes to what you do with that tight budget. But consider yourself one lucky startup pioneer, because we’ve got some tips and tricks to help you refine your workflow and help enhance your daily operations. Read on for 5 tips to guide your startup to a more profitable (and sustainable) first year.
Table of Contents
1) Connect with industry leaders
You’ve heard it about a thousand times, “it’s not what you know, but who you know.” While this adage does have its fallacies, it certainly rings true in the startup world. From building a customer base to brainstorming improved workflows, using your network is essential to establishing a successful new business.
Whether you connect with leaders through an online startup network like Gust, or in person at a networking event, there are many benefits to establishing a connection with others in your industry. Some of these benefits include:
- Capital raising opportunities
- Personalized feedback
- Advice on management strategies
- Insight into tools that improve performance
- Customer referrals and strategic partnerships
2) Invest in the right technology
It’s 2019, and there’s really no denying the fact that our lives revolve around technology. And this fact can be extremely helpful to startups—especially if you’re in the tech industry. But, it can also create room for chaos if you invest in tech tools that have little to no impact on your daily operations.
Before you sign up for the latest software program or online app hoping it will solve your startup woes, you should be sure to do your research. Not sure where to start? Here are some research tips to help you choose the right tech for your organization:
- Industry-Specific: There are tons of tools out there that claim to address all of your budgeting concerns, communication issues, and calendar troubles—but if the product isn’t tailored to your industry, it’s probably not going to do you much good. Make sure you get a product that has been designed by leaders in your industry with your pain points and processes in mind. A startup tax firm for example, may want to get and online tax software for tax professionals, whereas a content marketing agency may opt for a marketing campaign tool for content.
- Reasonable Contract: There’s nothing worse than signing onto a contract that binds you to hefty monthly payments and a seemingly impossible cancellation process. Before you end up in this startup nightmare, make sure you’re clear on the terms and conditions of your contract. This will save you time and money if you can avoid a budget-threatening cancellation fee and a battle with customer service.
- Educational Resources: Technology is only as useful as you make it. Most tech companies will offer educational resources and support staff to help you transition to a new product, which can make training more effective and ease the change in process.
3) Provide proper training
As previously mentioned, training your staff on your tech stack is important—but it should really be a part of all of your processes. This will make your whole operation run smoother, and calm frustrations from staff that crave direction and documentation.
4) Keep up with trends
Startup culture is always changing—and that’s what makes it such an attractive world to work in. You may have thought your company was at the top of its recruiting game when you introduced a free snack shelf to the office kitchen last spring, but now your competitor’s got an in-office cold brew keg to keep their staff at their optimal caffeinated levels at all times. Moral of this startup story is: you’ve got to keep up with the latest industry trends if you want to recruit the best in the biz and earn some buzz about your company.
5) Adjust accordingly
Anytime your business adopts a new tool or process, there’s going to be a calibration period in which you’ll have to evaluate and adjust to the new system. Be patient. Addressing issues right away will save you
The startup world is exciting and ever-evolving, but startup woes are a real thing. If you want to enhance your daily operations seamlessly, simply follow these 5 tips.
About Carson Derrow
