Eighty percent of small, start up businesses will fail during the first 18 months, according to Forbes. These numbers are pretty unforgiving, and it can — to an extent — seem more or less hopeless to small business owners. That is simply not true, however. With some dedication and investments in critical technologies, company heads can vastly improve chances of lasting success. Here are some key technologies for successful start up businesses:
Product Lifecycle Management Systems
Spending too much — and spending unnecessarily — can easily doom a small business to failure. Make sure you are especially conscious of profits and cash flow during the first year and a half. Simple tools, such as product lifecycle management software, can help you monitor expenses — and in great detail, too. PLM solutions enable business owners to track and assess products, services, and even applications profitability and/or value at every stage of the process. If a product is not longer making you money, PLM alerts you with enough notice for you to do something about it.
Cost Effective Cloud Computing Software
“Data space can be a huge issue for small businesses. But you don’t need to purchase [an] expensive kit to get around this. Many small businesses are opting to outsource data storage,” The Telegraph explains. There is a relatively simple — and inexpensive — solution, however. That solution is cloud computing. Cloud computing is relatively cheap, and it also enables employees to access systems from different locations. Obviously, this can be especially important on business trips and things of that nature.
Trustworthy Security and Backup Technologies
Finally, businesses benefit from knowing where to invest — and why. Business owners should never skimp on quality security and back up software. Losing data can not only put a business behind; it can also significantly damage a company’s reputation and ultimately cost clients or customers. Encrypt and back up everything you can.
Don’t let your small, start up business go down without a fight. Guarantee lasting success with a few key technologies, including PLM software, cloud computing technology, and the best security and backup systems. Find out more at this site: Plm consultants