Everyone dreams of being their own boss, and getting a tech startup moving is a great way to reach that goal. However, there is no defined roadmap that tells future CEOs that connections with social media contacts or cyber insurance companies are a big part of developing a business plan. To get your startup off the ground, there are certain necessities that make operations proceed much more smoothly. With the right foundation, your tech startup will be increasing its bottom line in no time!
#1. Small Business Insurance
Insurance is one of those things that are essential to have but you never want to use. A responsible business plan ensures that the company is prepared for the unexpected, but that means picking the kind of coverage that fits your industry. Some of the more common insurance options include:
- Professional Liability: Also called “Errors and Omissions Coverage,” these plans cover the business in the event of negligence and malpractice.
- General Liability: Protection against medical and property damage as well as covering attorney’s fees.
- Property Insurance: These cover business-owned property such as equipment, furniture, and structures.
- Worker’s Comp: Employees need coverage as well, even if you feel your startup doesn’t put your staff at risk.
- Cyber Liability: Protects against data breaches and lost or stolen client and employee information.
While it makes sense to bundle some of your insurance plans together, specific businesses may offer more comprehensive plans. For example, choosing cyber insurance companies for digital protection gives you access to experts who know specific ways to help your business recover from a cyber attack.
#2. Effective Workspace
Having an area dedicated to your business is an important tool for efficient operations. While a home office may work for the short term, it may be difficult to keep everything organized and running smoothly as your company grows. Investing in a specific location not only creates a boundary between work and home life, but also allows you to keep records, set up equipment, and have space for client interaction.
Virtual work has been gaining in popularity as well. Turing to remote operations can save you on business expenses, but it also means creating a virtual workspace infrastructure. While beneficial for companies with employees all over the globe, it does pose interesting data control issues. You can get insight from cyber insurance companies for different ways you can secure your virtual network from attack and provide a safe virtual space for you and your employees.
#3. Leverage Social Media
One of the most important aspects of marketing today is using social media platforms to their fullest potential. Even if you don’t have a dedicated department to manage your company’s social media accounts, you’ll need to have something for your customers to connect with. Make sure you have a presence on at least some of the top social media platforms, such as:
- Twitch
- Tik-Tok
Social media can be a powerful tool to connect with your customers. Business accounts including Facebook and Instagram make your customers feel like they are part of the business as a whole, and as such will become much more invested in it as you build up the brand! Remember to integrate your systems with your cyber insurance companies to prevent possible sources of data breaches.
#4. Understanding Your Customers
Social media platforms are one great way to get some insight into how your potential clients think. Keeping your finger on the pulse of your customer base will help you market more effectively and develop products and services that will connect with your audience on a variety of levels. The first thing you need to do is identify who your customers actually are. As you build your consumer base, using utilities such as Customer Relationship Management software can help you keep track of your clients as well as analyze their data to craft even more effective marketing strategies.
#5. Phone Sytems
In the day of cellular service and the ubiquity of the internet, old-fashioned phone systems seem an outdated means of communication. However, an official business line can do a lot to propel your company forward. having a reliable phone number outside of your personal contact info adds an air of legitimacy to your business. While 800 numbers are still an attractive option, they are less important nowadays since cellular communications are making long-distance obsolete. Even so, it’s important that your customers know how to contact you, and many still prefer talking to an actual person instead of virtually or over e-mail.
Putting it All Together
Trying to make headway as a startup in the tech world can be a real workout. Make sure you have the right tools at your disposal or you may be hamstrung as you try to grow your business. From access to cyber insurance agencies to social media professionals, give your company what it needs to get ahead right now, and become even more successful in the future!
