The Initial Systems and Processes your Startup Should Adopt
For a startup, creating a foundation of solid commercial systems and processes is crucial to being successful in the long run. Some ought to be established before rolling out the business, while others can be shaped and advanced during the first year of commercial activity. Discussed below are the initial systems and processes every startup should adopt in order to run smoothly –
- A System of Acquiring New Customers
Acquiring customers is the most basic yet difficult process for startups. This involves marketing the brand, targeted lead generation, proper advertising, and so on. Outlined below are the key elements of an effective customer acquiring machine for a new startup. Although the list is long, all of these aspects of the business have to be handled in a specialized manner in order to make the business appealing to the modern customer –
- Online content marketing
- Targeted advertising
- Fostering business partnerships with marketing companies
- Creating a lead generation website with landing pages
- Being active on social media, creating posts that focus on the benefits of your product/service over the features
- Creating video content for marketing
- Being active on online forums related to your industry
- Offering deals, giveaways and promotions
- Showcasing customer testimonials on your website
- Keeping a track on the competition
- Hosting events
- Regularly updating your SEO policy in accordance with Google’s algorithm changes
- A/B testing
Incorporating these factors into your commercial model will not only attract customers, it will also help in retaining them.
- Systems to Attract and Retain Top Workers
Having an effective hiring policy involves –
- Having training programs that clearly define what they are required to accomplish
- Performance evaluation; use key performance indicators (KPIs) to evaluate employee efficiency and progress
- Offering compensations and incentives for good performance
- Providing employee safety
In order to ensure worker efficiency, investing in a proper Attendance Analysis System is also a must. This can be in the form of installing –
- Punch card system
- Bar code entrance and departure system
- Magnetic swipe card system
- Biometrics (face recognition scan, etc.)
- Product and Service Management System
This system essentially involves managing the production aspect of the start-up. Having solid links with your manufacturers and a steady delivery network is essential for any business to operate effectively. However, the sole focus of this system shouldn’t only be facilitating deliveries from manufacturer to retail centers, it should also focus on the customer aspect of the business, overlooking –
- Order Fulfillment
- Order Management
- Shipping
- Customer Service
- Inventory Management
- Systems to Manage Finance
For a startup, concentrating on financial steadiness is essential. Investors love startups that can provide computed figures in their pitch deck. It is important to know and record all transactions in addition to being smart with the cash. For that, investing in a system that can accomplish these tasks is crucial –
- Track income and expenses
- Improve tax deductions
- Run reports
- Track sales figures and sales tax
- Clock employee time
- Assess Inventory
These systems are the four pillars every startup must have in order to stand the test of time and competition.
Summary
For smooth functioning, every startup needs to adopt certain primary systems and processes. First, there should be a good system in place for the acquisition of new customers. Secondly, the hiring policy should be comfortable enough to attract and retain high-performing workers. Also, there should be powerful systems to manage production and finances.
Reshali Balasubramaniam
Head of HR, HR Counselor and adviser at https://work.lk/. Do you offer a Service? Signup for an account at work.lk