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Managing a Successful Startup

How to Keep Your New Startup Competitive

By Kari OakleyPublished 5 years ago 3 min read
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Building your first startup company can be exciting when you believe that you have an idea that will eventually take off in the mass market. However, you must be able to keep your startup afloat on every step of the way, as any miscalculation can cause your business to shutter. Take all of these steps when you want your startup to stay successful.

Employees

Any well-known business owner can tell you that their products are only as good as the people they have creating them. This means that you're going to have to make sure that you have the best employees that you can since you don't want to be paying out people who aren't accomplishing much for you. To do this, put out open applications for every position that you are looking to fill. From there, you should be able to sort potential employees from their background, whether it be from simply education or having a portfolio of well-created projects. Once you have your initial set of employees, make sure that you're always looking into what they are doing regularly so you know that you didn't hire them for them to do nothing. Managing your employees is just one of the most important parts of making sure that your startup can stay successful.

Security

Many companies, large and small, have faced security issues in the past year that have cost them to lose millions of dollars when trying to compensate the public for leaked data. Strong security seems can cost a lot of money for a startup to implement in their budget but you'll want it to make sure that you aren't going to lose a lot more if anything happens. To ensure that you have the right amount of security, hire a dedicated team that will secure your servers on a 24/7 basis. Once you have your security team, give them access to tools like a network tap and admin logins into every server so that they can be shut down if any intrusion appears to be happening. Additionally, you should be having regular meetings with your security team as well to see if they have any needs in terms of adding more security money to the budget so they can make sure everything stays secure. Always keep security in mind when running a company small or large.

Money

Unless you've been a business owner for a long time, chances are you don't have enough money by yourself to keep a startup running. Whether you're in the tech industry or not, you're going to want to look for venture capitalists to help you pay for operating your startup. Venture capitalists are essentially people in business who go around to promising startups and give them money to start up their company in exchange for equity that will hopefully be worth a lot to them down the line. If you're someone who's going to look for venture capitalists, make sure that you create a presentation that sells what products or services you're going to create so you can receive as much money as possible. Ensure that you have your money situation under control before your startup starts going into operation.

Making a startup that becomes large eventually can be a hard task, but following all of these steps will at least ensure that you have a better chance of getting to that point. If you're someone who isn't sure that they can follow all of this advice by themselves, make sure that you hire staff that can help you with each process. Always make sure that you're on the lookout for new ways that you can make your startup successful.

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About the Creator

Kari Oakley

Kari Oakley is a fitness trainer from Kenosha Wisconsin. She now lives in downtown Chicago, and loves to get out. She is a big fan of anything adventure, and loves getting a workout in the outdoors.

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