The Business Life Cycle
One of the best innovations an online business can adopt is called cloud computing. There are a variety of cloud-based applications which can save you tens of thousands annually, and that isn’t to mention the savings which come from outsourcing internal network hardware, or being more competitive in the marketplace more quickly in your business’s life cycle.
A business will be incepted, it will enter a period of startup, from there it will hit an “adolescence” of profitability which, provided things go as planned, will lead to an adulthood of sustainability. Toward the end of a business’s lifecycle, it may lose vitality and relevancy, and eventually concede to liquidating itself among other companies.
But there are some operations that continue perpetually. No two businesses are precisely alike, though they may be very similar. With that in mind, you want to find ways to make your business’s foundation as secure as possible. When you’re conducting an online business, you have some noteworthy tools that can help you accomplish this goal.
Strategic Localized Outsourcing
Set up cloud services using a floated network and floated applications as well as backup. Software as a Service (SaaS) and Hardware as a Service (HaaS) essentially do these things. Now incorporate DaaS, or Desktop as a Service, and you’ve completed the triumvirate.
With DaaS online, use applications which allow employees to clock-in remotely, as well as security solutions only allowing preferred individuals access. Now institute BYOD or Bring Your Own Device. BYOD campaigns outsource equipment and office space to employees. If you’re pursuing an internet-based business anyway, why not go “whole hog” as the saying goes?
Now you’ve eliminated between $500 and $5,000 per employee in terms of equipment, between $500 and $5,000 a month in terms of office space rental, and likely between $10k and $50k in terms of on-site server functionality. Meanwhile, you’re getting the same level of service and profitability you would if you conventionally paid for all these things.
Minimize The Cost Of Online Transactions
Whenever you buy or sell something digitally, there is a fee involved in processing that transaction. The size of this fee will be a cost to your business over time. The smaller it is, the more you’ll save. If said fee were $1/per transaction, you’d spend $100 a day in transaction processing fees.
Cut that to .66.7+ cents, and now you save $33.3+ a day. In a year that’s over $12,045—should purchases be at the same rate. Ideally, more people will buy from your operation on an upward curve tending toward profitability, meaning you stand to save more per day as your success increases.
With all that in mind, now ask yourself: what is merchant services processing worth if it isn’t affordable? You want to find a solution with the fairest pricing model. Additionally, make sure there are no hidden fees.
Finally, one strategy to help you get to “cruising altitude” when starting out is the crowd. When you’re seeking online crowdfund solutions, you don’t want to have to pay to make a profile; that’s why Plumfund is so popular—their services are 100% free of charge.
If you can curtail expenses in processing, acquire additional financial resources from the crowd, and use cloud computing to keep yourself competitive and efficient, your online business stands to profitably and sustainably compete with larger operations very quickly.