4 Ways to Streamline Your Startup

How to Make your Startup Streamlined and Efficient

Your new company should be using its resources as effectively as possible, especially since, like most entrepreneurs, you are probably using your personal and family assets or a business loan to fund your startup. If you fail, a lot of people could lose a lot of money (feeling the pressure yet?). Therefore, it is extremely important that you have an efficient plan to get your new company off the ground as soon as possible.

How have you improved your startup’s efficiency? Tell us about it in the comments below!

Create a Startup Business Plan

It may seem like the most obvious tip, but it’s the most important: the first thing that you need to do is write a business plan for your startup. This will help you determine what you will need to be as efficient as possible. Think about who your managers will be, who will be getting paid a salary and who your first customers will be. Having a timeline ready will get your product ready for the market as soon as possible. As long as you have a timeline, you’ll have a better chance of obtaining more seed money if necessary.

If this seems like a daunting task, don’t despair – there are plenty of online resources to help you get started. SCORE, a nonprofit organization dedicated to helping startups get off the ground, provides detailed business plan templates designed specifically for startups.

Stick to your plan

Don’t try to overthink the process of creating your new product or service – just stick to the script that you have written for yourself. This doesn’t mean that you cannot make adjustments, but you shouldn’t be changing the core ideas behind your company. For example, you could certainly change the price that you will charge for your product, but you don’t want to change the material it’s made out of or decide that you need a new factory to build it in. If you can only afford to work in your garage, stick to working in your garage until you are ready to expand.

Use as much technology as possible

Startups can do a lot with the technology in front of them and the examples are endless. Your phone can be turned into a payment terminal, which allows you to take orders from customers before your product hits the market. This money could allow you to expand into that new factory that you may need in the future. Your tablet could be a tool used for scheduling meetings with investors or potential new employees. You can even turn your cell phone into a virtual receptionist with a virtual PBX system to give your small business a big business edge. While it’s true you have to spend money to make money, today’s technology lets you keep more cash in your pocket.

(Learn why virtual PBX phone systems are perfect for startups and how email marketing can lower your marketing costs)

Learn how to multi-task

You should learn how to multi-task in order for your company to become more efficient. A good businessperson will understand that conducting a meeting while having lunch saves time because you don’t have to have the meeting and lunch at different times. Outsourcing your work can help you get more things done at once as well. Your sales team can be out looking for new clients while your accounting or tax software is taking care of tax issues. The faster you get things set up, the faster you will no longer have your initial investors on your back.

It’s an unavoidable fact: you need to create an efficient operation when you are first starting up. There isn’t enough money or resources to be wasting anything. Create a plan, stick to it, and learn how to do multiple things at once – only then will success be within reach.

Sally B. writes for Principal Corp, a leader in the consumer electronics, managed printing solutions industries. Principal can ensure you have the right office and technology solutions for your business.