How to help startups succeed
Our strategic and technological advice on how to help startups succeed.
Our strategic advice that help startups succeed
1. Manage your time wisely.
Time is the entrepreneur’s most valuable resource and you should spend it on 3 main activities:
a) Grow your market
b) Identify and qualify leads
2. Manage customer expectations.
Ensure you communicate on what you do, how you do it, for whom you do it and why you do it.
This can be done in 3 ways:
a) Word of mouth
b) Social media
c) Newspaper articles
3. Manage your cashflow.
Capital and cash in bank are the fuel wich you need to grow your startup.
There are 3 methods to bring and keep money:
a) Requiring customer prepayment on order & giving them delivery dates (They finance your operations).
b) Lowering operating and fixed costs
c) Reduce/ deffer taxes throuh revenue recognition or by paying yourself in dividends (Which are not taxable in some countries).
4. Manage your suppliers/ consultants.
Ensure your suppiers deliver within the promised delays for you to deliver your goods in time.
You can track your procurement, inventory or project resources by using the appropriate ERP system.
5. Outsource whatever is not in your startup’s core business.
Unless you can withstand 16 hour days, it is always best to use the services provided by incubators or professionals for three main reasons:
a) Benefit from their experience
b) Meet like minded people
c) Use their network to have the right accounting firm, lawyer and marketing people to carry your project in their respective fields of expertise.
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Our technological advice that help startups succeed.
1. Use CRM solutions that allow startup employees to do more in less time.
Here are the 3 main cloud CRM software that we offer to startups:
a) NetSuite CRM+:
A licenced, complete CRM’s which cover all your CRM needs: Marketing, pre-sales, sales and after-sales activities.
A licenced CRM’s which only cover the management of your sales forecast.
An opensource CRM which offer the tracking of sales activities on leads, prospects and customers.
2. Use an ERP software that allows startups to manage their receivables, payables, inventory, projects and cashflow.
We offer 3 cloud ERP systems which will scale with the startup as it grows. Our ERP offers do not require high capital expenditure. These include:
a) NetSuite Financials first:
This NetSuite ERP includes Receivables, Payables, General accounting, Financial reports, Item pricing.
b) NetSuite Limited edition:
This is our preferred software for startups.
It includes CRM + ERP + ecommerce + bi = All CRM & financials first functionalities
c) Opensource ERP’s
This is our second choice as opensource costs a lot of money to develop.
It includes basic ERP functionality, with ability to develop a solution based on what you need.
Do you need an ERP
to manage your startup?