You’re understandably excited to start your own business: Being your own boss, only yourself to ask permission from when you want to take a day off, keeping your profits — the list of entrepreneurial perks is long! However, it also requires a great deal of maturity and discipline, not to mention the real willingness to fail. Plus, you’ll be a jack of all trades — at least, until you can hire additional help.
When it comes to IT services, look for companies that understand the trials and rewards of running a small business. The experienced team at Krishna IT Services values the balance you need to create among your budgetary needs, your business functions, and your professional image.
Financial nuts and bolts
Whether you intend to operate on a shoestring or you’re already a self-made millionaire with virtually unlimited resources, it doesn’t hurt to explore outside funding instead of solely using your own money. At the outset, you will likely need to invest in capital equipment, such as computers and scanners, or manufacturing and shipping equipment. You may need to rent office or warehouse space and invest in a company vehicle.
Make a list of what you need to get your operations up and running. Then decide how much of your own money you are willing to put into it, being cautious that you don’t place too much of a burden on your household while you are waiting for revenue. Your business plan is the perfect place to sort out these details. Once that plan is in place, you can shop it around to banks and investors.
You’ll also need to separate your personal and your business finances. Creating discrete bank accounts is just the beginning. You’ll need a robust small office accounting system that is easy enough to fit your soon-to-be very busy schedule. Entrepreneurs are typically on the go, conducting as much business out of the office as in. Finding a system or platform that allows for mobile accounting services from an easy-to-use and very functional app — one that works on both Android and iOS platforms — will greatly uncomplicate your accounting processes. Look for one that performs other invaluable accounting tasks like direct deposit and payroll, including calculating and filing those all-important quarterly taxes.
Build your digital footprint
The importance of your stakeholders — customers, investors, suppliers, media, and other audiences — finding you online cannot be overstated. You need to not just build your brand through your website and social media platforms, but also create online fulfillment capabilities for ordering, payment, and shipping. Again, an experienced IT company that understands both the technical and brand-building requirements will be an invaluable business partner for you.
Consider hiring an experienced social media manager, whether as an in-house hire or an independent contractor, to keep your social media accounts current and to respond quickly to any inquiries or comments. Even a part-time employee should be able to handle your accounts for the first several months. Having responsive social media accounts can be vital to your online reputation — you don’t want any potential negative comments to sit for too long before they are dealt with appropriately.
You can also implement some affordable digital marketing strategies, such as email blasts and online customer newsletters, as well as blogs. In addition to being branding and promotional tools, these can also increase your SEO, or search engine optimization, so that your business name comes up quickly in online searches for your products or services.
Get ready to sell!
Once you have your basic business infrastructure in place, you can focus your attention on generating revenue. As a passionate entrepreneur, you are your company’s greatest advocate and best salesperson, and the sooner you can get down to the business of selling, the more quickly you can start to enjoy more of the perks of being a small business owner. Krishna IT Services would love to be your partner in jump-starting your business and deliver you the results you need. Reach out to chat today.