Starting a small business can always be a challenge. There are so many hurdles that must be overcome and there are always risks involved. Having an idea is just the beginning, because typically that is where the hard work begins. A place of business must be bought or rented, supplies must be purchased, workers need to be hired and funds need to be arranged.
IT-wise, you need to invest on IT infrastructure. Fortunately, with the availability of cloud services today, you will need minimal IT investments to start things up. In fact, now you can run your startup entirely in the cloud, such as project management, accounting, and many other business functions.
Be sure to choose your cloud solutions wisely, as jumping from one cloud service provider to another is not an advisable strategy, as you could end up in cloud lock-in issues, which “lock” your data to only be accessible from a particular cloud service build upon a particular cloud platforms. You also need to set a ground rule for your workers with regard to which cloud services to choose. This is to avoid cloud sprawl issues that can compromise your data privacy.
Another important aspect of starting a small business is insurance. Going into business, especially a small business, without the proper insurance can be a disaster. After all, one can never know what the future will bring and taking chances with one’s livelihood is never a good idea.
Having liability insurance is the number one priority for all businesses. This protects them from being sued in court by customers or workers. Without liability insurance, almost every business in the country would be susceptible to lawsuits at any time. Just the threat of a lawsuit can be enough to shut a business down, given the astronomical legal fees that would be involved. That is why it is wise to check out websites such as BusinessInsurance.org, where you can get quotes for liability insurance.
In addition to liability insurance, it is also a good idea for small businesses to get workers compensation and group health insurance. Workers compensation will protect small businesses from having to pay workers who are not able to work. The insurance company will pay them instead. A group health policy may seem as though it only benefits the workers, but in the long run it benefits a small business. Attracting workers can be tough, especially for a new business, but if one was to offer them a group health plan they would feel a lot more confident about working for that business.
Small businesses will live or die by their first year or two. That is why it is vital to create the right foundations for a business. Be sure to put the cloud at the center of your startup, as cloud computing solutions can help you with many business operational issues, including business continuity planning, disaster recovery planning, data storage and backup, and workforce and project management. Let’s say the cloud is another form of “insurance” that can help your business to survive when disaster does strikes your business premise.
Once the early groundwork has been laid, the success will come in time. But, without the right planning and preparation, no matter how good an idea is, the business will not be a success.
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