It is understandable to be a little hesitant when it comes to the idea of managing a startup through its first few years. It can be an overwhelming and potentially harrowing prospect, as each and every mistake could have far-reaching consequences. Plenty of startups end up failing to realise their potential due to a lack of experience — something that can be unavoidable as most startup owners are generally inexperienced entrepreneurs.
That said, the possibility of a solid foundation is always there. It is more than possible to push ahead and future-proof a company with the right kind of preparation. It is even possible to directly compete with large businesses as a startup. Here are just a few ways to maintain a solid foundation.
The importance of an experienced accountant
Running a startup can be quite challenging at first, as a new business has plenty of paperwork to worry about, alongside the constant threat of deadlines. For those who do not have the necessary experience, it can be quite easy to get lost in the overall process.
The idea of hiring an experienced accountant is not just about getting the paperwork in order. While they will undoubtedly do their job and ensure that a small business is capable of handling the paperwork without issue, it is the wealth of business knowledge an experienced accountant has that makes them so invaluable. They could very well help dictate the direction of the company.
On the topic of outsourcing
The idea of hiring a single professional such as an accountant is one thing, but what about the use of professionals to handle much larger projects, such as IT services? All things considered, most startups would be unable to handle IT services, as it requires an in-house team, expensive equipment, and cybersecurity measures. A startup owner would be better off making use of professional services to handle IT managed processes for a fee.
The same thing can be said for digital marketing and search engine optimisation (SEO). It is entirely possible to do such things on your own, but there is no reason to add to the stress. There are packages offered by SEO agencies like Ocere.com that include everything from keyword research and link building to appropriately unique and relevant blogs for local and organic SEO — all at reasonable price points.
Is business software crucial?
The idea of using business software is not an uncommon tactic, especially when it comes to handling much larger businesses. That said, some business owners might feel that business software is more of a luxury than a necessity. However, even a startup would greatly benefit from business software. After all, it is meant to streamline the most repetitive processes, which is exactly what a startup needs to develop a solid foundation. There are even industries where business software is mandatory, such as a restaurant making use of a POS system to ease the burden on staff.
Developing any type of foundation for a new business can seem challenging at first, but it is often much easier to accomplish than it looks. With the help of other professionals and the use of business software, it is entirely possible to compete with much larger companies, even as a startup.