In an ideal world, every company could afford the fastest, most powerful, and ultimately, the most expensive technology. As a startup, some of those devices may not be in your budget. That’s why you need to craft a budget that tells you exactly how much money you can spend on tech.
Make sure you allocate funding on equipment like:
Your specific budget will vary depending on the kind of work your business does. However resources exist to help you estimate certain costs.
Know that you don’t always have to purchase the most expensive items to get the services you need. Explore your options to discover which is right for you and the industry you work in. You might find that the most expensive option has the features you specifically need which can save you money in the long run to pick the devices that fit your company perfectly as opposed to buying again and again when new models are released or when cheaper versions break down.
A technology audit should help you understand what types of tech devices your new business needs most. That plays a key role in choosing the right kinds of products and services.
You may also want to look into hiring a consultant who can help you assess your needs objectively. It’s difficult for business owners to see their needs clearly sometimes and having a third party step in offers a better perspective that should help you make better choices in the kinds of tech equipment that will help your business succeed.
Tech needs change as your company grows and as an entrepreneur, you probably already know where you want to take your company. That can make it tempting to start buying tons of equipment that you don’t actually need right now in the hopes you’ve use it in the next five years. By the time you reach that time frame, the technology will cost so much less.
Prioritize your startup’s needs so you can focus on what technology will help you meet your current goals. Maybe you need faster tablets that let employees interact with customers online. If that’s what you need now, then go ahead and make the purchase.
If you know that your business will quickly outgrow certain devices, then consider renting them instead of buying. Why waste money buying the small server you know you won’t need later on when you could just rent it out for awhile? Depending on your business model and long-term plans, renting or buying should stand out as the obvious choice.
Can you think of other surefire ways to help startups choose better technologies? Have you ever encountered a serious problem because you adopted a technology too quickly or slowly? Share your experience in the comments below!
Teddy Hunt is a freelance content writer with a focus on technology. When not behind a computer, Teddy spends the majority of his free time outdoors and resides in Tampa, Florida. Follow him on twitter, @tedhunt9.
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