To many, starting a business is a scary prospect. Aside from having a good set of products and a business plan, owners must consider payroll, supply-chain logistics, hiring and more. These many functions are not only time consuming, they can be very expensive.
However, in today’s day and age, technology has dramatically changed this daunting prospect to a far more easily attainable goal. Technology has lightened the burden on startup entrepreneurs, offering many low-cost business models that capitalize on benefits like cloud computing, online payment systems, mobile applications, social media marketing, and more.
If you are considering of a new business venture and are curious about some of the benefits technology offers you, consider these:
The Power of the Cloud
Cloud computing is a specialized web service that remotely hosts data and related resources, like IT support or business software. Because these services are offered remotely, entrepreneurs can get to their information from any device with an Internet connection. This ease of access not only saves time, but it also saves money by helping you to avoid the costs of storing, maintaining, and updating a personal server. Statistics from Microsoft show that business owners who take advantage of cloud services can expect to save 25 to 50 percent in IT costs alone. Many cloud providers also provide data on how your cloud resources are being utilized, which helps you gain a better understanding of your company’s needs.
Advertising
Technology, like the Internet, has also made it easy for new businesses to get the word out to a lot of different people quickly and inexpensively. Facebook ads, for example, have been proven to be one of the best ways to get the word out to potential local customers because it uses location-based marketing. Google’s Small Business Network is another great online service that allows you to more easily scale your ad buys as your business grows and even track exactly where customers are coming from.
DIY Prototypes
Designing and manufacturing a prototype is a daunting task for many startup business owners. Luckily, online companies like Ponoko can take your concept and turn it into a digital model in a matter of minutes. They can also produce it using a global network of manufacturing facilities. With online services like this, your prototype could be just a few clicks away.
Virtual “Assistants”
With virtual access through multiple devices, from your phone to a tablet, your office is really wherever you are. An iPad, for example, can allow you to present with a simply digital AV adapter connection to a projector or TV. There is also almost nothing apps cannot do. Wufoo, for example, helps create documents like order forms, employment applications, and surveys. GoToMeeting, another great app, allows you to do everything from simple video conferencing to a live interactive training with off-site employees. There are also a range of apps, like Square, that turn your iPhone into a credit card machine. Google Wallet has even taken this service a step further by allowing people to turn their phones into a credit card, and allow businesses to offer up loyalty programs and coupons to customers virtually.
Outsourcing
Having just one employee results in a lot of extra administrative work. What if you have more than one? Outsourcing HR needs, from payroll to benefits administration to tax compliance, saves you both time and money. Optimum Employer Solutions, a nationwide HR outsourcing company, can help guide new business owners as they build their businesses. Not only can we help keep a new business in compliance with changing laws, we can save you time and money by taking on tedious and time consuming tasks like payroll. Data shows that outsourcing HR can save a business between 5 and 15 percent of payroll costs. If you are starting a new business and need help with HR, do not hesitate to contact the experts at Optimum Employer Solutions.
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