Thinking of starting up your own IT company?
By 2027, the revenue of IT companies is projected to reach US$561.00bn. So, if you want to be a part of this profitable industry, you have to make your company stand out.
Read on, and you’ll find some of our most helpful tips for getting a new IT business off the ground.
1. Hire The Right People:
Any business needs to have a diverse range of skill sets and personalities. The more areas of expertise your team has, the better equipped you’ll be when problem-solving. It’s also important not to overlook certain fields.
For example, you need to hire someone to handle your company’s finances. This can be easy to overlook if you focus more on the endeavor’s IT side.
Businesses have a variety of areas that need attention that may not seem directly related to IT.
Additionally, while your team may consist of IT geniuses, you’ll also need people with sales and marketing experience. There is no point in having a great service or product if you cannot promote it.
2. Offer Something Unique:
In the US alone, there are over 585,000 tech companies. You’ll quickly discover that many bases are already covered. It can be challenging to find something that your company can provide that no one else can.
Yet, there’s still room for your business. It’s just a matter of working out what you can offer that none of your competitors can.
It can be something quite technical, like a new piece of software. The program can undertake tasks that no one has yet to digitize, or it can be for an entirely new function that anyone else has not yet addressed.
What you offer doesn’t need to be groundbreaking. If your service is already quite similar to one being provided elsewhere, even something as simple as outstanding customer support can grab people’s attention.
3. Set Up Your Cybersecurity:
You need to protect your business from hackers and other cyberattacks since you’ll likely be processing important data. This information could relate to a number of things, including:
- Customer contact details;
- Financial records;
You can reduce the risk of a data breach by investing in quality antivirus software and ensuring you keep it up to date.
Additionally, you can download a VPN which will make your devices more secure when using the internet. A VPN masks your IP address and encrypts your search history.
If you’re worried about the cost of a VPN, Cyber Monday deals can often help in your search for a great deal.
4. Get The Necessary Funds:
Any serious business requires capital to get off the ground. Whether it be to pay staff, obtain equipment, or even fund office space, there will be costs that you’ll need to cover – even before you’ve started turning a profit.
The money you need can come from a variety of sources. For instance, you may be able to:
- Take out a bank loan;
- Secure investment from friends, family, or private investors;
- Apply for a small business grant
Whoever you approach for investment, you’ll need to convince them to part with their money. Make sure you’re prepared to deliver a detailed presentation, telling them how you intend to use the funds.
5. Set Up Your Location:
The physical location of your business is something you have to consider too. If your services are aimed at a certain demographic, ensure they can reach out to you in that certain area. Setting up in the wrong part of town can drastically affect your footfall.
Alternatively, you may decide that you don’t need an office. Depending on the size and nature of your business, it may suit you and your team to work from home.
6. Start the Branding Process:
Okay, so branding sounds complicated. But putting it simply, it’s a great way of making your business stand out and become recognizable. Your company’s aesthetics and ethos can greatly impact the image you want to create.
Once you have strong branding in place, it’ll make your brand recognizable and trusted.
7. Building An Online Presence:
You need to have as many avenues as possible for potential customers to reach you. The internet is full of opportunities. Set up social media accounts in your company’s name.
It could also be helpful to employ someone to manage these accounts full-time.
A company website can also be a good way to establish an online presence. List your services and anything else you have to offer.
8. Set Realistic Goals:
New companies always want to hit the ground running. However, it’s better to be realistic rather than delusional.
Formulate a clear business plan and forecast things such as how much you expect to make in the first few years – along with specific markers you want to hit so you and your team can stay on track.
Even if you start slow but follow steady growth–you’ll succeed.
Starting a new IT business is an exciting venture. Make sure you have a solid plan and stick to it. You’ll be where you want to be in no time.