Starting up a new business and seeing it grow is rewarding. However, it’s not always easy to develop a small business. Here are some typical problems your growing business may encounter and how to solve them.
Among the greater hurdles to getting a small business on its feet is knowing how to manage IT maintenance and support and deciding whether it should be in-house or outsourced. The list of options has increased, making decisions a little more involved. Here are some of them:
- Self-managed support for IT, or an in-house tech, runs about $40,000 to $60,000 per year to start. That’s pay, bonuses, and share profits, but not benefits. It can cost more when you add in the cost of system management software, sick and vacation time, and training.
- Outsourcing has a high hourly rate in general, but can be more cost-effective as services are already up and running. The company outsourced to will be prepared to competently assess your needs and assign a qualified tech for about $1,000 to $2,500 a month.
- Managed services will monitor various aspects of your IT setup for a flat fee a la carte style, including antivirus, email archives, mobile and desktop monitoring, and backup. Keep in mind that these services can be progressively added as needed.
Start-ups are often more adaptable at the start. As they grow, they become more encumbered, especially without a system to organize and adapt to new responsibilities. Staying ahead of new processes is an important point to watch for in keeping competitive. It takes extra work, but maintaining preparedness and keeping a growth mindset helps to keep up with market demands.
Choose a Point of Sale
Cash registers have become a bit more involved these days. With a lot of credit cards running through the system, security and capability in processing are requirements. During high-volume hours when the line starts to build up and orders come fast, communications and a stable system needs to keep up without crashing and leaving you stranded. That’s where a dedicated Point of Sale (POS) software system from a reliable POS vendor makes all of the difference.
These systems handle sales amounts and card processing while sending direct order information and even tracking inventory. All of this can get complicated, however. Since POS software is very complex, you will still need regular training for you and your staff to learn about updates and new features with your POS service. That’s why a dedicated POS vendor can act as reliable customer support to make sure you’re in working order and ahead of the game.
Managing Employee Benefits
In growing your business, keeping a good employee base is important and you need to consider offering competitive employee benefits as your competitors are more than likely offering them too. You’ll need to do due diligence and become acquainted with the best options available to you. However, this too can become overwhelming, so you may want to consider outsourcing for this service as well.
Beware of Overworking
You want to put in the time and effort necessary to get your business on its feet and growing, and that’s understandable. But, this also tends to lead to getting overworked if you’re not careful. Focus can only last so long in a day, and since employees want to make a good showing by keeping up, you need to set a good example by letting them know that they shouldn’t work to the point of exhaustion and that your company prioritizes their health.
All sorts of unexpected events can turn up in any venture, and creating and growing a successful business is not an exception. However, some considerations tend to be more common among start-ups, and taking time to be prepared, investigating what to expect, and finding options made available by experienced professional services can get you off to a running start.