However, with any new venture, you are likely to come across a series of new obstacles that will challenge and test you. Most entrepreneurs tend to make a handful of mistakes that can halt their process almost immediately. Some of these missteps could have been avoided had they known previously.
To reduce the likelihood of making mistakes in the initial stages of your startup, we’ve listed useful practical tips you should follow to avoid the potential problems that could arise.
Focusing on tech cost rather than functionality
It’s easy to fall into the trap of overprotecting your bottom line and minimising costs to retain more profit and avoid being wasteful.
Making quick setup decisions as a startup is necessary. However, while paying for systems that seem like they offer good value for money might be enticing initially, this might mean that you end up sacrificing functionality in favour of cost.
The problem with this strategy is that your business may miss out on technology that offers key functionalities, which your business could be in dire need of during that period in time.
Another problem is that this could end up being even more costly in terms of time and capital if your business quickly outgrows the technology. Your startup will need to put aside time to search and implement new or upgraded technology which will undoubtedly harm productivity while this goes on.
The best way to avoid this misstep is to invest in technology that will provide the functionality your business will need over time. It’s highly recommended to do considerable research into your various options before purchasing to ensure the tech stack you will continue to provide value for money as your business grows.
Making business communications systems an afterthought
There are several reasons why making business communications an afterthought is something best avoided. Business owners must remember that communications both in-house and with customers are key to achieving sales, delivering important information and delivering the service effectively.
As shown in The Chatterbox Matrix, telephone communication within business isn’t slowing down. In fact, it demonstrates just how important it is to have a reliable business communication system in place for day-to-day activity.
Does your business need the ability to work from anywhere? Or perhaps conference call functionality will be key to your work going forward? These kinds of considerations early on can avoid frustrating tech stack problems later down the line that requires costly upgrades or replacement.
An excellent option for startups seeking to build a robust but modern communication system is to invest in cloud-based VoIP business phone systems.
VoIP phone systems enable businesses to make their communications systems more flexible and adaptable to customer demand, together with the shifting demands of changing technologies. Certain tools also offer seamless integration with other tools and platforms that you’re already using, such as Hubspot, which makes them increasingly future-proof as your business grows.
Considering all of your communication tool options carefully for the best functionality and integration as well as how it meets your business needs would be highly beneficial.
Thinking in the short-term when building your tech stack
Startups are often subject to rapid growth and significant changes in the first few years of business. While it’s almost impossible to anticipate every change your business will make in the future, it’s a good idea to have your future goals in mind when building your tech stack.
If the technology you invest in cannot adapt and grow with your business, you’ll soon find it a cumbersome drain on resources and staff time. Don’t be afraid to bring in the new tech when it becomes necessary, but a little extra planning may reduce the need for this later on.
Failure to do so will not only be costly but could result in your business becoming slower internally, as staff will need to work around the clunky tech that is no longer fit for purpose, something that will be detrimental to productivity and may even be felt eventually by your customers.
Big picture thinking is certainly ideal for building this integral part of your business and avoiding this future misstep.
Final thoughts
There are many things to learn and consider when building a startup. However, these main tips will help you stay ahead of the competition by future-proofing your business to prevent critical mistakes from occurring early on.
These common missteps are useful to bear in mind in the very beginning phases and should be reviewed over time to ensure the continued success of your business.
Damian Hanson is cofounder and director of CircleLoop.