In a rapidly evolving modern business world, no new venture can exist without technology. When you’re on the verge of launching your startup, the idea of investing in business tech feels daunting. Although you know you need certain items to succeed, you don’t want to overspend at the behest of other business areas.
But what if there were another way? Many startups make the mistake of overspending in areas where they could cut costs. From adopting cloud technology to introducing Bring Your Own Device (BYOD) policies, here are our favourite ways to stay frugal while investing in business tech.
1. Turn to free and low-cost apps that help you stay organised
Without some semblance of organisation, your startup will struggle to get off the ground. In addition to securing a reliable email system, you need calendars, ways of hosting virtual meetings, and shared documents.
When you’re looking for apps that provide organisation functions, there are plenty of paid-for options out there. Although you may need them eventually, why not consider starting with free versions instead? Take Google, for example. It provides calendars you can share, collaborative documents, meeting apps, and email. Once you exceed their free capabilities, you can upgrade to use bigger versions. Even better still, Google’s apps are usable across several mobile phone and tablet operating systems.
2. Introduce Bring Your Own Device (BYOD) policies
From Day One through to the moment your startup really gathers pace, you’ll need to ensure your employees can access technology. In the beginning, you may not want to invest in a lot of new devices. Additionally, you may not have the capital to.
As an easy workaround, consider introducing a BYOD policy. BYOD is becoming increasingly popular amongst business owners around the world. Encourage your employees to get mobile phones and smart devices that support the apps your business is using and are fit for meeting your workplace’s demands.
In addition to reducing immediate costs for your startup, using BYOD allows you to scale your business flexibly. You can add more employees, without worrying about a significant upfront investment. Your employees will also be able to work while they’re on the road or at conferences. You can also give employees the chance to work from home, which may attract a better calibre of staff. Overall, BYOD brings a tonne of benefits to your new startup.
3. Use social media marketing effectively
When you use technology in the right way, it helps you stay frugal in other areas of your business too. Marketing is one area where you’re at risk of overspending. However, there are lots of free tools at your fingertips, especially when it comes to social media.
Spend some time identifying the type of audience you’re trying to appeal to. Then, research the type of social network they’d feel most comfortable finding you on. For example, those in the fashion industry may have better luck with Instagram and Facebook than Twitter.
Once you’ve found your social network, use it to market your business. Downloading the right apps allows you to analyse your progress and send updates to your audience no matter where you are. Apps such as Facebook also help you analyse your paid ad spending and the reach of your ads so far.
If you want to reduce the cost of your customer service technology, apps come in useful there too. A growing number of businesses are choosing to use Facebook messenger, Instagram direct messages, and Twitter DMs to speak with customers. By doing the same, you can offer rapid customer service responses without spending too much money.
4. Look for broadband deals
The chances are, your business will need a dependable Internet connection to function. Before diving into the first package that looks enticing, search through broadband deals.
In addition to focusing on what will suit you right now, you need to look at a network that will support you if you grow. Focus on networks that will allow you to increase your usage limits with minimal hassle.
If your business is set to move from place to place, look at mobile broadband options. Mobile broadband allows you to work no matter where you are. As a result, it’s ideal for startups that may move from co-working spaces to other locations before they find their permanent setting.
5. Invest in cloud technology
Your business will need to store data and information securely. Most businesses choose between local hard disk drives and cloud storage. In the future, there’s a strong chance that most startups will rely entirely on cloud technology.
Cloud technology allows you to store important information in the cloud. The type of cloud provider you choose will vary according to the level of security you need. When looking for providers, focus on those that offer flexible contracts. Flexible cloud technology contracts allow you to increase and decrease your data storage without astronomical costs. If you’re working in a niche where you’ll experience seasonal fluctuations in demand.
Finally, working with cloud technology is similar to BYOD. It helps you stay flexible, which is essential when your employees work from home or travel to different places. Before implementing it at your business, make sure you agree on different levels of security for data protection purposes.
When it comes to saving money on business tech, there are lots of avenues for startups to explore. With each successful saving you make, you can invest the money elsewhere. After a little experimentation, you may find even more ways to reduce your tech costs.