High speed and reliable internet is key
When starting a new business your responsibilities can be quite overwhelming. After all, you no longer have an employer and a team of people to rely on anymore. Often times a fledgling company might only have the owner and sole stakeholder as the person who does ALL of the tasks, regardless of how mundane they are. You are responsible for product development, sales, and even the bookkeeping! It’s no secret that 99% of our tasks are completed on a computer, and usually online via a high speed connection. Having high speed internet for business is vital to achieving success.
Most of the time product development is a key component of making a quality product. Once you “invent” something you need to continuously improve upon it in order to stay ahead of the competition. When companies become lazy and fail to innovate their product lines become stales and their sales dry up. A fledging company is often hard pressed to hire local talent at a high cost. This is precisely where high speed and a reliable internet connection comes in handy. You will most likely want to outsource product development at a fraction of the cost without giving up any quality.
Developing and physically making a product is good and all, but a company won’t last very long unless they are able to turn that product over. Sales are the lifeblood of any company to survive. You want to have a reliable and well diversified customer base to help your company grow. Just like with product development, a sales force can be expensive to employ. This means you may have to take on the job of salesmen until you are able to build some profit and a customer base. Because you are only one person, and the cost prohibitive travel that comes with sales, it can help to setup virtual sales demonstrations when applicable. Demo’s of this nature are sure to eat up a lot of bandwidth, and will require a strong internet connection. The last thing you want is to lose connection to your customer while demonstrating your product.
Lastly, but certainly not least, is handling all of your accounting and bookkeeping. You need to be able to keep good records in order to understanding your sales and profit margins. At the same time you need to be able to file accurate tax records at year end. This is where online cloud-based accounting software can help you maintain accurate records for a fraction of the cost of a certified public accountant.