When you have a fresh startup idea, it feels like the world is your oyster, with your concept giving you the means to shake off working for someone else, and not only get some autonomy, but also the success to create a more comfortable life for yourself. This steers a lot of people towards the startup dream, but the numbers work against you, as most businesses fall apart during that first year or so. The good news is that by taking advantages of tech innovations and forward thinking, you can improve your startup not just to bring in more profit, but better serve your customer base and even take better care of the environment as well. What you need to be willing to do is keep a close eye on innovations and see what works best for you.
Do you want to know one of the major traits that can make you a better businessperson at all levels? It’s all about empathy. This may surprise you a bit at first, especially when you think about business as this cold world where logic and profit decide everything. Yes, you want to have an eye on the bottom line, especially in those early startup days where you never know what may become an unexpected expense. But empathy is important in order to get you the point where you can do that effectively.
Let’s think of it in this sense. Every product is solving a customer problem, whether it’s already happened or before it starts. You need to have a full empathic picture of your customer in that moment where they decide they are going to take action. On the formulation level, this will decide exactly what needs your product or service will attend to as well as how it will be implemented at the user end. On the marketing level, you need to know what information to communicate. Effective empathy will help put you in the customer’s shoes.
This is also important when it comes to management. At the end of the day, you are running a team and they are employees, but you want to position them in the best way to do their job. Keeping an open dialogue helps for providing suggestions, but you also want to be able to think ahead about the needs of your team so they can better perform for you.
Mindset gets the best results when paired with the right materials, so you want to make sure that you are incorporating useful tech when it comes to your startup. One example is public cloud hosting, something that comes with a number of pros. Perhaps the most prominent one is that in the startup realm, where money is always tight, it can help you save. This plays out in direct and indirect ways. For example, if you are using the software in a cloud, you don’t have to constantly make different purchases over and over again. This saves you money in the short-term, but also in the long-term if you find that you need to switch over later.
Another thing to consider is that cloud hosting and computing makes it much easier for teams to collaborate, regardless of their location. In the startup stage, remote work may be important to help you save on costs, as well as use the best talent across the region or country. Many people are already catching on. 23 percent of IT budgets in 2018 are currently allocated for hosted and cloud-based services among SMBs with less than 100 employees. This is not only a large chunk of the budget, but is also up from last year.
Cloud hosting/computing is one of many tech options that can improve your startup’s chance for success. One such example is machine learning, a variant on artificial intelligence. Basically, these systems work to process a large amount of data in order to help make informed decisions. These days, data is king, so the faster you can use it to your benefit, the better.
Don’t feel that you need to cram every bit of tech or plans into your startup. After all, someone who tries to please everyone rarely ends up pleasing anyone. What you do want to do is keep an open mind and your eyes on important trends so nothing passes you by in this cutthroat environment.