Top Tech for Entrepreneurs
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When you're getting a new business off the ground, smart use of technology can go a long way in helping you meet your startup and expansion goals. The first step is to evaluate your needs, make wise investments, and learn the ins and outs of how new tech can help you be successful.
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What Do You Need?
Every business is different, so there may be industry-specific technology you’ll need to invest in. There are, however, some basic types of tools every entrepreneur can benefit from.
Primary needs include a laptop or desktop, smartphone, and a suite of business programming software.
Cybersecurity tools will help ensure you, your business, and your customers are protected against data breaches, hackers, and other cybercriminals.
Marketing tech will help you get your message in front of the right audiences and allow you to deepen your reach into new markets.
Programs and apps that allow you to multitask are invaluable - for example, technology that allows you to update all of your social media feeds simultaneously.
How Will You Pay For Tech?
Startup costs vary for different types of businesses, so you’ll want to create a business plan with a budget to make sure you’re identifying smart investments without breaking the bank. Explore various funding streams and see what’s right for you.
Bootstrapping or crowdfunding allows you to fund your start-up with your own money, or that of family, friends, and other interested parties.
Small Business Administration-backed loans typically provide good rates and terms that allow you to access cash, as well as build your business credit.
Angel investors and grants are a bit harder to come by, but they’re worth checking into, especially if you’re working in an in-demand or niche field.
While personal loans and credit cards carry a higher interest rate, if used responsibly, can fit the bill.
Other Startup Needs
In addition to getting set up with the right equipment, technology, and software, there are a few other startup investments that can help you build your business quickly.
Get a business license and choose a business structure.
Write a business plan and develop a marketing strategy.
Hire staffers or freelancers.
Create a branded invoice with an online invoice maker.
Develop a website and social media presence to boost awareness.
Startups can be costly, but wise investments in technology will help ensure you get off to a solid start.