When you’re starting a new company, you are usually working from a written business plan. This includes a cost-benefit analysis, weighing the costs of starting the business with the potential profits to be gained after the early years of operations. This document is important to show to potential investors and lenders who may give you startup capital.
Getting capital is not as easy as it used to be. Once you know how much capital you will need and secure enough funding, you will still have many difficult choices to make, especially about the ways that you should invest your beginning capital. Some decision-making will be specific to the industry that you intend to enter.
Other decisions to be made will affect most business owners, such as how much capital to spend on equipping a real office or a bricks-and-mortar store. In this article, we consider how starting a business could involve significant investment in new computer systems and software solutions. Inform yourself on your choices by considering these five essentials:
1. Location-specific business systems
Somewhere, you will establish a virtual office or a company headquarters. This will help your people have a home base where they can meet and use typical office equipment. Much of their work may occur at home or while they are traveling within a specific market. You have to design the office to fit the needs of the people who will use it.
Some small businesses start with a skeleton team, and they need a shared space for interacting with clients. They may work in a small suite within an executive office building. Be sure that startup employees have regular access to the right amenities. Choose a temporary or a permanent space that will keep office hardware and software in good condition and safe from hackers and thieves.
2. Knowledgeable staff
Labor isn’t cheap. Right off the bat, you know that you might have to perform much of the menial work yourself. Chances are that you won’t collect a paycheck for the first year. You want to reach that break-even point before you pay yourself a regular salary. Invest in new employees who can be trained to perform multiple business functions in case there is an emergency or unforeseen circumstance in the future.
3. Cloud-based computing
Look for ways to purchase cost-effective computer systems that will give employees access to the right tools in a virtual office. You can base most or all of your company’s servers in the cloud and then acquire software applications on a per-license basis. You don’t need to purchase too aggressively for IT systems that your company won’t need until it experiences some growth.
4. Security culture
You want to make an investment in security solutions for each server that you will house in the company’s headquarters and in off-site locations. Every computer that is connected to the Internet is at risk for data breaches. No matter how big or small your business, it is vital that you hire good support like the services offered in Ottawa IT support. By hiring outside IT help, you transfer the responsibility to capable hands who are trained. By investing in security you save yourself money in the future that could have been lost by security threats.
For every security solution that protects a company’s servers and applications that are connected to the Internet. There are multiple hacker tactics that will work around them or effectively neutralize them. It’s important to design all server networks and software applications with the highest level of security that your company can afford in mind. Any interruption to your business operations that involves computers can affect your customers. And you want to ensure continuous operations so that your business will grow.