The Most Important Things Start-Ups Should Invest in Early
| By Laura Castelli | 0 Comments
When starting a business, you’ll undoubtedly have a million things to do, whether it be product development or fundraising. So, what do business owners need to prioritise for maximal growth? Truth is, there isn’t one area that should be prioritised more than another. This means it can get difficult to manage if internal processes aren’t optimised.
Around 20% of businesses are dissolved in the first year according to research carried out by Fundsquire . The reasons for startup failure could be one of many including: getting outcompeted, hiring the wrong people or burnout.
To help better manage your business and avoid startup failure, owners should look to invest early into these things:
- Scalable Tech Solutions
Whether it be long processes like data logging or physical equipment like work phones, there are almost definitely tech alternatives available that will make your life easier as a business owner.
An example is Devyce – a modern business phone system.We provide you with two numbers on your phone through an app so you can affordably make business calls without having to commit to a lengthy contract with a phone provider.
Devyce also offers a Teams Plan to provide your employees with business numbers and you have access to a Teams Management Portal where you can view call analytics and manage employee inbound/outbound calls. The Teams plan is scalable to your business needs and growth so it will save you money in the long run, allowing you to allocate more budgets to other departments such as Marketing.
Check out our Teams Plan for your business here:
So, getting Devyce has saved you a lot of money on the telecommunications side. Now what do you invest in? Marketing!
Many businesses underrate the importance of marketing, especially in the early stages. An important component of marketing is customer relationship management. While many businesses’ marketing efforts are directed towards top of the funnel objectives and getting those sales, the actual relationship a business has with its customers is widely neglected.
It can get difficult to stay on top of all your customers’ journeys without a system to collate all the information. To ensure you foster and maintain beneficial relationships with your customers, business owners should look to utilise CRM platforms like Hubspot. This will encourage more positive reviews to be generated for your business, further helping as 90% of consumers rely on reviews when making a purchase decision .
You can also integrate your CRM system with Devyce to keep track of your client calls and the follow up!
- Your Team
The people you choose to work with can be the make-or-break factor for your business. It’s important that you take the time to hire the right people to deliver on your long-term business goals. Not only will you need to hire the right people, but you will also need to invest time into their development as your business grows.
However, the pandemic has changed the way we work, and many businesses need to hire remotely. This has many advantages for business owners including saving money due to lack of need for office space. Although, it can be challenging as business owners will need to find ways to seamlessly integrate new hires into the company from afar.
Here’s how Devyce can help; our plans are easy to sign up to and within minutes you can assign business numbers to your employees. With Devyce your employees can work from anywhere in the world and the app is easily accessible on any smartphone – just download it from your app store!
Find out how else your business can benefit from switching to Devyce here.