Tips To Help Your New IT Business SucceedDecember 2, 2020 No Comments
Featured article by Brad Smith, Independent Technology Author
Starting a new IT business can be extremely stressful as there are so many things to take into consideration. Unless your business angle is unique it can be hard to stand out from the competition, so you will need to be clever and innovative in order for your business to be noticed.
There are certain things you can do to help make your new online business run more smoothly and become more successful. Let’s look through some of those tips.
Continually Update Your Business Plan
Before you’ve created your new online business you will need to work on a business plan that will set out short, medium and long term goals and ways to achieve those targets.
A mistake many people make is once they have started up the company and got down to the nitty gritty every day running off things to ignore and forget about their business plan.
This is a mistake as you should not only be using your business plan to help guide you but you should also be constantly working and reviewing it making changes to it when and where necessary.
Plans can change all the time due to any number of different reasons so you need to be adjusting your business plan as you go along. This will help you immensely with growing your business in a quick and speedy manner.
Working Out Wage Structures For Your Employees
If your business has people working under you as employees it can be difficult to work out how much you should be paying them and to keep on top of your payroll system.
You will want to pay your staff a competitive and fair wage to keep them happy and motivated but also to help retain all your employees. Research what the average wage is for their roles and try to at least match it. Maybe also include work performance bonus pay within there contract or extra commission pay, if their role involves selling.
Working out what a person’s hourly wage is after all taxes can be difficult to understand unless you are an accountant so it could be a good idea to use a payroll work hours calculator to help work out all the figures for pay slips.
Keep Up To Date With The Latest I.T Technology
If your new business involves I.T it’s important to keep on top of the latest changes and developments in technology.
You will want to keep ahead of your rivals and competition so will need to have the latest technology to help your business grow and stand out from the crowded marketplace.
Potential customers or clients will expect your business to be up to date with any new developments in the technology world.
Make Sure Your Company Website Is Of A High Standard
It may seem obvious to say but you would be amazed how many I.T companies actually have poorly designed and non functional websites. Your company website is the first impression your clients are likely to see, and if you have a poor looking website and your business is in I.T, then this looks particularly bad, would you trust another I.T company that has a bad website?
Your website not only needs to look impressive but also be very functional and easy to navigate. You don’t want any pages to be over cluttered or hard to find.
Use logos and colours that match your brand throughout all the pages on your website and make sure all text is clear and to the point.
It’s also a good idea in this day and age to have a mobile friendly website or smart phone app. Most people now use their smartphones or tablets to access the internet and if your website hasn’t been designed to also work on these devices then it’s unlikely to work or function properly when potential clients view it.
Know Your Marketplace And Customers
It’s vital for any new start up business to fully understand its marketplace and who are your customers. By knowing this you will be able to shape your advertisement and business plan to attract the right kind of people.
It’s important to know your marketplace before starting up your new business to determine if there is a need for your services. If the marketplace is overcrowded then you may need to alter your services slightly. However if the marketplace is not over saturated then you can go full steam ahead.
Knowing your marketplace will also help with structuring your future plans and moulding your business plan. Like previously mentioned it’s important to keep looking at and changing your business plan accordingly.
Research Your Rivals
As the old saying goes, keep your friends close but keep your enemies closer, this runs true in business as well.
It’s important to research and study your rivals to see what success and failures they have had. While you do not want to copy them you can take ideas and inspiration from their success stories.
Likewise by knowing what failures they have had can help you from making similar mistakes. It is also never a bad thing to become friendly with your competitors as you could end up working together at some point or potentially sharing clients or customers.
Surround Yourself With Good People
Having a good team around you will certainly help your business grow and become more successful. You will want team players and people who have the same work ethos and values as yourself.
When hiring new staff for your new I.T business look for these and other traits that are important to both you as a person and your business.
It takes a lot of hard work from many people to help a new start up business be successful so you will need a strong team around you to help.
Also don’t be afraid to ask for help and advice especially from those who have been there before. Asking for help is not a sign of weakness but is a show of strength and self awareness.