Loading...
Answers
MenuIn terms of IT tools, what do entrepreneurs struggle with most when managing their startup in the early stages?
What kind of tools are they using? (Excel sheets, SaaS, etc)
What data are they looking to track?
Answers
As a startup freak myself, I am always looking for new ways to make the company better and communications between the teams easier. I like Slack as a communications tool as well as Asana. HipChat is pretty slick for instant messaging and integration with inbound customer service live chatting forums. As far as CRM I happen to like Close.io which offers calling directly from the CRM but also tracking of all emails in & out. Easy User Interface and they are slowly getting the tools needed to compete with the big boys.
Well, Excel is still the world's number one ERP, but putting that aside for now, I would think that the biggest issue entrepreneurs face is finding IT tools that are relevant to the size of their business. They need to set themselves up to handle growth when it inevitably occurs, but many of the systems they would ultimately end up with when they are mature, are far too cumbersome and full featured to support a startup.
Therefore, they end up with tools that are really most suitable for freelancers or independents, and can only take them part of the way. Additionally, they often have trouble finding operational systems that are integrated (accounting/project management/time tracking/production management/resource management etc.) so they end up defaulting back to spreadsheets and Google docs to try and piece together a view into their organisation.
As an early stage startup, I would be expecting to track cash flow on a micro timescale, production/project management and cycles, profitability and customer acquisition metrics as these are the areas where there will be (should be) the most variability and evolution IF the data is available and the company can easily see where a pivot may be required.
I have helped a number of small businesses in growth phase, and startups, piece together integrated operations foundations that cost very little and provide a working foundation that will get them to the point where they start to see enough volume in their business that necessitates a transition to more robust systems. I've also worked with more mature organisations to take them through a software selection process once they are ready to mature.
It's natural for a startup to progress and mature its systems, but the trick is to set them up from the beginning such that the DATA is easily accessible and transferrable once growth happens.
Happy to chat further - feel free to reach out directly.
Related Questions
-
What do (bootstrapped) startups offer to new sales hires? Commission only? What are some good examples to keep people motivated and still survive?
Generally bootstrapped startups should avoid salespeople, for a few reasons: a. they typically can't afford the base and overall comp required to attract sales people who can actually sell / or afford to support them with marketing, management, etc b. it will be very difficult to find the rare person with the right mix of sales and startup DNA along with the critical domain knowledge, consequently the startup is likely to settle c. the founders need to be very involved in the selling and customers will demand it That said, if the plan is still to hire a salesperson, find someone who has demonstrated sales success in startups and is excited by the early stage in company building. Create a comp plan heavily leveraged on sales results (unless you are in an industry where 100% commission is a common practice, would recommend against $0 base as this creates the false impression that your hire isn't passing time with one company while looking for another job with a richer comp plan - you want your rep focussed). Sell the vision and opportunity to be part of a growth story. I have written a several blog posts on hiring sales people into start-ups. You might find these useful: http://www.peaksalesrecruiting.com/ceo-question-should-i-learn-to-sell-or-hire-a-sales-person/ http://www.peaksalesrecruiting.com/start-up-sales-and-hiring-advice-dont-stop-selling-once-you-hire-your-first-sales-rep/ http://www.peaksalesrecruiting.com/hiring-start-up-sales-reps/ http://www.peaksalesrecruiting.com/startups-and-salespeople/ Good luck!EB
-
What tools to use for mobile Prototyping ?
My 2 favourite are: - www.uxpin.com - www.flinto.com Flinto is by far my favorite for mobile. I also us www.balsamiq.com for anything wireframe. Sometimes I jump into Sketch http://www.bohemiancoding.com/sketch/ for more high fidelity mockups using their Mirror feature http://www.bohemiancoding.com/sketch/mirror/ Hope that helps. P.S. There's a tonne of Mobile UX experts on Clarity, many $1/min - call them, you'll learn so much. my2cents.DM
-
What percentage of VC funded startups make it to 100m+ revenues in 5 years or less?
100M+ in revenues in 5 years or less does not happen very often. As an example of one sector, here is an interesting data visualization (circa 2008) of the 100 largest publically traded software companies at that time that shows their actual revenue ramp-ups from SEC filings (only 4 out of these 100 successful companies managed this feat, which themselves are an extremely small percentage of all of the VC-funded software companies): How Long Does it Take to Build a Technology Empire? http://ipo-dashboards.com/wordpress/2009/08/how-long-does-it-take-to-build-a-technology-empire/ Key findings excerpted from the link above: "Only 28% of the nation’s most successful public software empires were rocketships. I’ve defined a rocket ship as a company that reached $50 million in annual sales in 6 years or less (this is the type of growth that typically appears in VC-funded business plans). A hot shot reaches $50m in 7 to 12 years. A slow burner takes 13 years or more. Interestingly, 50% of these companies took 9 or more years to reach $50m in revenue."MB
-
What does it mean to 'grandfather you in' in the tech world?
It stands for allowing someone to continue doing or use something that is normally no longer permitted (due to changing regulations, internal rules etc.)OO
-
how to start earning on clarity.fm
Most of the earnings come from the people you are in contact with. The platform is not that big at the moment but it can be earned. My recommendation is to create content on your private page web, facebook, instagram ... and leave a clarity link through your work. If you need extra help call me for 15 minutes.DB
the startups.com platform
Copyright © 2025 Startups.com. All rights reserved.