For businesses that are newly formed, using technology to your advantage usually makes or breaks the company. In order to stay competitive and successful, the start-up business has to use every technological advancement that they can afford. While some may view advanced technologies as being expensive, there are many items you can use that don’t cost much at all. Whether it is technological devices or software to increase efficiency, it’s about keeping as much money as possible within the start-up business to ensure survival.
1. Payment Processing – For the start-up business, accepting credit cards makes an attractive selling point. More and more people are carrying less and less cash. If you have a way to swipe a debit or credit card, you could generate more sales. However, some of the credit card machine companies charge extremely high rates and equipment leases making it difficult for the start-up business to succeed. Instead of these machines, look into processing payments with companies like Square. These companies only charge a percentage of each transaction and nothing more. Even the card swiper is free, which uses your own smartphone or tablet to process the payment.
2. Quickbooks – There is a reason why millions of people use Quickbooks on a regular basis. Not only will this software keep your financial information organized, but it will be far more efficient when it comes time to hand out payroll, W2s, 1099s, or processing corporate 1120s and more. In a matter of minutes you can process your entire business tax information from Quickbooks relieving a great deal of stress come tax time. Your company could have a grasp of its financial future for less then $200.
3. Website Development – For less than $140 per year you can have unlimited website and email potential. By developing your online presence with information and/or goods, you could generate an additional stream of income through consumers who don’t even live in the same state. Your company could generate ad revenue from Google Adsense by simply having information about what your company specializes in. This will also allow you to have as many employees as you want with email addresses which are nearly a requirement in today’s world.
4. Advertising Using Social Media – As a start-up business, your advertising budget may be somewhat low at the beginning. By developing your website and using social media to your advantage, you could advertise on a global scale for next to nothing. Between Facebook and YouTube, you could create a vast advertising network for your start-up business without investing much money in it at all. Mobile devices and Internet searches are replacing the phone book and your local customers can find you if you have a social media presence.
5. Cloud-based Applications – While applications within the cloud can be a great form of efficiency, some services might be out of the budget for a start-up business. However, you could start small using the Cloud for file sharing and a few aspects of your business and increase your Cloud budget as your business grows. For a small business with two to five employees, the Cloud may be more expensive than efficient. However, the Cloud could be greatly beneficial for a business with six or more employees. Of course this greatly depends on the nature of the start-up business and what applications are needed.
The start-up business doesn’t have to invest thousands of dollars into technologies in order to be successful. Technologies are developed on a regular basis that are cost effective in order to increase efficiency in the workplace. As every business is different, these advancements may differ depending on particular needs. Invest time into researching the best technologies for your business and ensure your future success.
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