Starting an IT business can take a while. In most instances, it usually takes twice as long as you might imagine. So, if you have a rough estimate in your head, you should multiply it by two, and you will probably be close. However, while this rule may give you a closer estimate, other things come into play to determine the exact time it will take for your particular type of business. For instance, the complexity of your business and where it is located are also contributing factors.
If you are planning to start a home-based IT business with a single employee and no bank loans, it will probably take you about 30 to 60 days. On the other hand, a business that operates in a large facility and employs a lot of people will take about a year to set up.
Of course, it’s possible to shorten the amount of time needed to start an IT business if you find someone to assist you with the process. There are company registration experts who can assist you in preparing documents and dealing with the legal issues of company registration. Read on to find out more about the tasks involved when establishing an IT business and how they affect the time it takes to start the business.
Form an IT Business Team
When setting up an IT business, technology is the most important factor. However, apart from technology, you will also need a business team. This is your most critical asset unless you are creating the company on your own.
Ensuring that you have a complete team will make things way faster than if you are going at it alone. This is because your team members can juggle different tasks and prepare different documents simultaneously. For instance, someone could be working on getting your business bank account while someone else is sorting out tax issues. Having a carefully selected team also helps you ensure that all your bases are covered so you can provide the best services for your clients.
Pick a Business Name
Your IT business name should clearly describe what you do. While it would be good for the name to have a good ring, it should also be quite simple and straightforward. Names are also important for SEO purposes. This means your name should be searchable and easy to find online, which is crucial in today’s landscape. Once you come up with a list of possible business names, the next step would be to check if they are available.
You should also keep in mind that when picking a business name, you will want your website domain to be the same name. You don’t want your customers to have to type in anything long or something that doesn’t match your business name on the internet. It may seem like a super small detail but it is extremely important in getting the most customers.
Branding and Building Your Location
With running a business, it’s important that you have a physical location. This not only gives your employees an easy place to work, but can also build trust with your customers. When it comes to finding a location, remember it’s not only about the inside, you should also focus on the outside. You can look into certain things like led signs for sale, that would help customers spot your business and help drive awareness.
It should go without saying that if you’re buying an older building to help with costs, you should look into services like an electrician. The last thing you want to do is have servers or other important electronic devices in your building fail. An incident like that could potentially ruin your business.
Dealing with Servers
If you’re going to be hosting servers or dealing with servers within your building, it’s extremely important that you manage those correctly. You should look into an ac contractor to make sure you can keep the room’s cool. With all the technology in the building, you will notice a rise in the temperature because of all the heat being given off by each device.
It’s also important you look into locksmithing services or security systems. Due to the cost of all your equipment, you may have in the building, like a 3d laser scanning printer, if someone steals that from you it could be a nice chunk of money you lose.
Finding Equipment for Your Business
It should go without saying that if you want to build an IT business, you will need the proper equipment to get started. If you just try to build this business with one laptop, you are not going to make it very far at all. Now it’s important to remember the cost of tech can be super expensive. If you try to buy everything brand new right away, you will find yourself in massive amounts of debt.
One place you could look to potentially find cheaper equipment to start your it business is looking into it equipment recyclers. Although some pieces of equipment may be well used, this is an opportunity for you to cut potential costs without breaking the bank.
Building an MVP
Most people who start IT companies do so after being unable to find the solution to their pain. If you are taking this approach, you might be the most qualified person to determine your company’s service offerings. The assumption, therefore, will be that others also share this pain. This will help you refine your company’s value proposition.
To ensure that your business roadmap is pointed in the proper direction, you will need to collect feedback from others and validate your concept. It’s crucial to make informed decisions at this planning stage, seeing that almost half of all startups fail due to poor product-market fit. To ensure that your idea is watertight, you can use the following framework:
- What services will the company provide?
- Who are the customers?
- Why would they want those services?
You need to be highly selective when coming up with an MVP. The focus should be on providing the minimum number of services needed to realize value.
Decide What Services Your IT Company Will Provide
If you are planning to start an IT company, the first thing you need to do is determine how you are going to add value to your clients. After all, this will be the main selling point for clients. Here are some of the most common IT services you can offer:
- Server Hosting
- Small Business IT Solutions
- Lost Data Recovery
- Electrical Panel Upgrades
- Data Service Center
If you are unsure about what services you want to offer before starting, it’s important that is one of the very first things you figure out. You can have the best name and location, but without a service to offer your potential clients, you will never be making any money.