Forget about the reliance of heavy machineries during the industrial age. In this technological era, there are new innovations every day that are changing and improving the way we live. Promising entrepreneurs are also developing up tech startups and coming up with ideas that are unimaginable in the past. So now that you have a world-changing idea in mind, what are some of the things that you may need to kick-start an IT company?
Finding the advisor
Behind every successful military leader, there is a good advisor. So now, in order to get the groove going, where are you going to find your advisor a.k.a the developer of your idea. If you are not well-equipped with the necessary knowledge, hiring an in-house developer may be a liability due to high cost. For example, if you are looking to develop a mobile app, outsource a developer, and once the first version of the product is born, then, hire an in-house developer to work and improve on the product. Other positions to invest in could also be IT and business consultants to properly kick off your IT service or product.
Marketing the product
Ok, now that the product is born, you will need to announce the birth of your grand tech idea to the world, and this is when marketing comes into play. Marketing not only raises awareness about your product, but also aids in pushing the sales. In this technological era, rather than pursuing traditional marketing that may exhaust resources, there is a shift towards digital and online marketing. Apart from leveraging on the high volume of usage on the various social media channels, it is imperative to identify your target audience (people who are more likely to use your product) to achieve maximum efficiency in your marketing efforts.
The trend now is to delve into options like online marketing, internet marketing and search engine marketing. This can come in the form of content creation for your social media channels, online advertising, SEO to increase traffic to your website, etc.
Foundation of your business
A good enterprise systems set the foundation for the management of the company. As the name suggest, it is essentially using application software packages that supports business processes, reporting and date analytics. It can be a general system that is pre-set or customised according to the company’s needs. Hire a notable business consultant to advise you on your business model. This could prove to be a valuable investment once you get a better idea of how to earn profits using the best business model.
A good working environment
While it is absolutely possible to kick-start the birth of your grand ideas from the premise of your home, finding a good and conducive working environment to assemble your co-workers is necessary in the long run. Much as the convenience of having an office space in the CBD is tempting, it can be a burden on your monetary resources. The demand for start-up incubators or co-working spaces are rising amongst start-ups entrepreneurs due to low rental costs. Such offices are worth considering for young start-ups as not only are they budget-friendly, but also a good place to know like-minded individuals.
3rd party procurement platform
Of course, it takes more than the pointers above to kick off and run a company. There will be more considerations and measures that have to be taken in the long run to sustain a company. Regardless, do not let the lack of resources hold you back from realising your grand idea. The presence of B2B procurement platform like ThunderQuote aims to assist small businesses in matching their business needs to the right vendors, saving you both time and money to kick start your company.
ThunderQuote is the most comprehensive business services portal in Singapore, Australia and ASEAN , where hundreds of thousands of dollars of procurement contracts are sourced every month by major companies like Singapore Press Holdings, National Trade Union Congress and more.