What does the word “startup” mean? In the context of business, one probably thinks about a new company attempting to find its appeal to customers in a specific industry. In certain verticals, the phrase “startup” might conjure up images of ping-pong tables and Friday afternoon happy hours with company-sponsored libations.
Timing is everything.
How many times have you heard this phrase? If you take a moment to think about it, you can likely remember several times throughout your life (professional or personal) when timing made all the difference in the outcome.
Another saying that applies to what we’ll be talking about today goes something like “luck is when preparation meets opportunity”. Small and medium-sized business owners need to consider growth differently than other more well-established companies.
If you’ve taken a taxi lately or had some food delivered to your door, it’ll be no surprise to learn that the gig economy is taking over the world of work. Consultants have been a fact of life in business for decades, but more companies than ever before are now turning over critical day-to-day tasks to freelancers and outsourced talent.
In business school, one of the first lessons taught to students is the lifecycle of a business. Obviously, you don’t just open your doors one day with a fully trained staff and customers. The growth and evolution of a business follow similar patterns:
As a small business owner, you probably have a variety of roles that shift wildly from one day to the next. On Monday, you're the company spokesperson and lead salesman. Tuesday rolls around, you're the website manager and database administrator. Wednesday certainly means you're the copywriter and ad designer.
It is impossible to understate the true value of efficiency in today’s world. With so much margin for error, its easy to lose time fumbling through company data, documents, email threads, work logs, etc. We work in an extremely challenging landscape of flash decisions and quick judgments, which require a seamless flow of numbers, figures, and analyses that can be stored either internally and/or backed up using external storage means.