Today, we’ve got an awesome technology guide for new businesses and startups.
When it comes to starting a business for the very first time, there are a million and one things to think about. And that’s after you’ve come up with a winning business idea and the funds to make it happen.
From marketing to office space, to finding the right employees, every single aspect requires careful consideration. How you handle things in the beginning will inevitably set the tone for the rest of your startup journey.
The Technology Guide For New Businesses
No matter what industry you’re breaking into, technology is no doubt a major part of your game plan. But with so many options on the market, it can be pretty overwhelming.
If you’re fresh on the startup scene, you’ll most probably be wondering how technology can get your business off to the best possible start. And also which technology can do so.
So to help you navigate the technology minefield, we’ve come up with some useful tips and pointers.
Why is technology so important for my business?
First off, it’s crucial to understand the importance of technology, or rather, what it can do for your new business.
When implemented wisely, the impact of technology is seemingly limitless; it can speed up business processes, enhance teamwork, connect you to customers and even save you money.
In an age where technology is synonymous with efficiency, it is nigh on impossible to maintain a competitive edge without it. In short, it’s one of your most powerful business tools and deserves your attention.
What factors do I need to consider when investing in technology?
Whilst all businesses can benefit from technology in one way or another, this by no means constitutes a one-size-fits-all approach. After all, what works for Bank of America is not necessarily logical for an e-commerce startup.
Rather, the technology you invest in should reflect the unique needs and characteristics of your individual business.
The most important factors to consider are:
- The size of your business: Internally, how many people will be using the technology each day? Externally, how many customers or clients will you be connecting with via your chosen technology?
- The nature of your business: What do you want technology to help you achieve? An
e-commerce company, for example, will need specific technology for receiving customer payments.
- Your budget: As with any business decision, your finances will play a significant role in the kinds of hardware and software you opt for. With so much technology available, it’s easy to get carried away. However, the chances are you won’t be able to invest in everything, so prioritize those areas of your business that stand to benefit the most.
6 Pieces of Technology Your Startup Needs
With these things in mind, you can begin to devise an optimal technology strategy that is totally unique to your business. To start you off, here are some fundamental technologies that most companies will need from the word “go”.
Whether you’re a solo entrepreneur or a team of 20, your day-to-day business operations will require some sort of hardware.
If you have fixed office space and a large team, you may wish to bulk buy desktop computers. On the other hand, if you work remotely and have employees doing the same, laptops or tablets may be more suitable.
2. Communications Technology
Communication is key to any business, and thanks to technology, it is now faster, easier and considerably more flexible than ever before.
In addition to a professional emailing system, startups can benefit from other types of communication technology depending on company size.
Instant messaging platforms are useful for larger organizations, whilst video conferencing software is essential for businesses with employees or clients scattered across various locations.
3. Branding and Marketing Tools
An online presence is absolutely essential, but it’s a little more complicated than just setting up a website.
A domain name is vital for establishing and protecting your brand, whilst social media will form an integral part of your marketing strategy. Identify which channels are most relevant to your industry and start from there.
Another crucial aspect of marketing is big data and analytics. Whilst this may not be a priority component for many budgets, there are plenty of free tools on the market. For
example, Google Analytics can be used to analyze website visitor patterns and behavior.
4. The Cloud
The cloud is probably one of the most crucial pieces of technology for new startups. Companies of all sizes can take advantage of the cloud to grow and excel their business with more ease.
A cloud server enables secure website hosting and document storage. Also providing anytime, anywhere access to your company’s IT infrastructure.
What’s more, with companies like 1&1 offering adjustable packages that can be scaled up or down at any time, the cloud is as accessible and affordable for startups as it is for larger corporations.
Regardless of company size, security is something that no business can afford to overlook.
As a bare minimum, your website should be protected by an SSL Certificate. This helps ensure that all sensitive information transmitted between customers and your website is encrypted.
Antivirus software is also necessary to protect your PC from dangerous malware and phishing attacks.
6. Industry-specific Technology
In addition to these basic technologies, it is crucial to integrate any industry-specific
solutions that will enable you to keep up with your competitors whilst increasing your chances of long-term business success.
Once again, think about your specific objectives and employ the appropriate software accordingly. If your startup deals with high volumes of customers, you will no doubt benefit from CRM software.
However, if you are running a translation company, your focus will be on language-specific programs.
Carry out extensive research into what tools your industry is using before narrowing it down to those that will make a real impact on your business.
Let’s quickly recap on the 6 pieces of technology startups need:
- Branding & Marketing Tools
- The Cloud
This article should help you to recognize the basic pieces of technology you need to found your startup. The types of technology needed doesn’t differ too much regardless of the kind of business you’re creating, so there’s something here for everyone.
P.S. If you’re starting a business, you’ll also need a rock solid business plan! Check out our detailed LivePlan review!
Are there any other types of tech that this technology guide for new businesses should include? Leave a comment below.