Phone System Technology Business Strategies
Startups looking to quickly make a name for themselves have a wide array of technology strategies to leverage, including an automated answering service and a virtual PBX telephone system. However, just because a business can leverage a new solution or system does not mean that it is necessarily wise to do so. In a recent Small Business Trends article sponsored by Federal Express, small business expert Anita Campbell listed some of the top technology strategies start-ups should avoid purchasing to reduce initial expenditures and still be competitive.
Technology Strategies to Avoid
“By spending wisely you preserve your funds for the things that count,” she wrote. “Also, in the first six months of your business you have certain priorities – this list will keep you on track. I’m not saying to NEVER spend on these things – in fact depending on your business you may have to spend on some of them – just not in the first six months.”
- Conferences and travel: In an effort to make an immediate impact within a specific industry, many startups are tempted to travel frequently and to attend every conference imaginable in order to network and actively promote their goods and services. However, Campbell cautioned against this approach, as the cost of airfare and lodging in addition to reduced productivity on the road typically ensures that this strategy has a prohibitively low return on investment.
- Office space: Unless a new business knows that it needs a central physical location right away, likely renting out an space is a useless expenditure. Thanks to cloud-based services such as a virtual PBX system, team members can communicate and collaborate for each other from any location. In addition, the U.S. Small Business Administration said startups can reduce their tax liabilities by not renting out an office, and that a shared space is a much more cost-effective alternative than more traditional real estate arrangements for companies that do need a central working location.
- Video conferencing software: In place of conferences and in-person meetings, some startups may be tempted to install video conferencing software solutions to speak with potential clients and investors. While these systems can provide tangible benefits, Campbell said that this technology is not always cost effective and can unnecessarily drain fledgling savings during the first few months.
“But whether your cash comes from savings or financing, watching how you spend your money is critical to the success of your venture,” small business owner Caron Beesley said. “This means establishing boundaries and habits that ensure you spend your money wisely and operate as a lean start-up.”
One investment that will yield tangible business results for a startup is a virtual PBX phone system from AccessDirect. This phone system technology is affordable and it enables new business to effectively communicate and collaborate with clients, customers and others no matter where in the world they might be located. In addition, added features such a virtual receptionist and professional business voicemail enable startups to not only look and sound like a more established firm, but to also ensure that no initial sales lead goes cold.