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Three Essential Tips For Start-ups

Published on: Nov 26, 2018

The early stages of a start-up are an exciting time filled with hopes and fears alike. You have an idea that people really need and will find greatly useful. Planning and executing your innovative, unique, and possibly risky idea can be thrilling, but it requires a delicate balancing of sober preparation and careful management with bold moves and forward momentum. Accessing the right resources and expertise, research, and finding the best people are the foundation for success.

IWI Consulting Group can assist your start-up with local and global ERP solutions that will help your company thrive from the get-go. Start-ups rely on creating great customer relationships early on, even in the development stages, and we can help you make sense of early, preliminary data and use it strategically to continue to stay ahead.

Adopt a Custom ERP System

Enterprise Resource Planning (ERP) software is a business-wide, real-time system that helps you integrate your operations and run all aspects and processes of your company. You can track materials, monitor the supply chain, check on orders, inventory, sales, schedules, access employee information, manage human resources, increase the efficiency of financials, improve customer relationship management, and more. Modern systems provide access through a flexible and scalable cloud server so your teams have easy, up-to-the-minute access to the data they need, where they need it.

By implementing a system from the beginning, it is easy to integrate it, tailor it, and develop your start-up operations without any hassle. IWI Consulting Group are your Sage EM (formerly known as Sage X3), Sage Intacct, and Sage 300 ERP consultants in Toronto who can help any type of business at any stage to integrate an ERP system to increase efficiency. We can teach you how to effectively use all the tools and reports, collect and access data to be analyzed, and grow your business.

tips for startups

 

Research Those Who Failed

Certainly, looking at successful strategies should be a key part of your research plans for your start-up. The start-up world is full of risky ideas and ventures and there are many motivating success stories as there are spectacular failures. Discovering what went wrong and avoiding making similar mistakes is vital. Read, take note, hold meetings full of discussions where your team can analyze these scenarios and case studies and share their thoughts.

This is also where third-party consultants and advisors come in handy. They can provide you with their professional opinion and honest advice without being a partner or co-developer. Those with investments and stakes in the company do have a financial incentive, to be honest, and succeed, but they may also be too close to the idea, the design, or the plan to be able to evaluate it clearly and critically.

Find The Right People

Managers and employees need one another, and they cannot succeed without each other. Your start-up may begin with only a few people, or even just yourself, but to grow, you’ll need to eventually hire people who align with your vision, have multidisciplinary skills, and are authentic team players. Sage People is a human resources software that can help you attract, hire, and onboard employees and manage them properly with full support.

It’s not enough to simply locate and hire great talents. Respect and loyalty are essential to their performance, relationships with customers, and keeping them around. Offering proper work/life balance, avoiding crushing overtime, providing benefits and perks, providing room to grow in the company, and other assistance goes a long way in securing a spectacular team.

If you need help to integrate the right Sage solution into your start-up, or you’re already a Sage user, we provide Sage Accpac support in Toronto and support for any of our software solutions by phone, email, or in-person. Let us know how we can help.