Getting your startup moving can be a real uphill battle, but with some time and money saving tips and tricks you can get ahead of the pack. Fiscally responsible startups will have a higher investor confidence and attract better financing than startups with a high burn rate. Even if you’re just getting going with a Kickstarter page, you can find ways to simultaneously save those precious dollars, and to burnish your credentials as a forward thinking and engaged CEO.
There are lots of different things that a new CEO has to think about for their company when first starting out. There are new hires to make, trade events to attend, remote teams and telecommuters who need to check in and engage with her teammates. While having everyone in the same room might be the ideal, in an increasingly global employment market it is also completely impractical. Having people come from across town might be one thing, but to have your entire team in the same room nowadays may require plane tickets from across the country, or even clear across the world. While a big travel budget might be impressive in its sheer numbers dollars expended on airline tickets, ground transportation, meals, and hotel rooms the reality is that a newer company needs to keep a tighter grip on the checkbook and the expense account. According to Investopedia, some of the most popular uses for video conferencing include holding multi-location meetings, interviewing job applicants, and even negotiating new business deals.
It’s Not Just Skype Any More
Some people will think of videoconferencing as being just like Skype, but the ability to see the person you’re talking to is where the similarities end. Video chatting among friends has been common since Yahoo Messenger was the hot app, videoconferencing is just as simple but at the same time it allows for work complexity of contact. Bringing other people into the conversation in such a way as to engage your team members and allow them to interact with each other brings important benefits, and fresh energy and perspective, to your various projects. In addition, according to a study commissioned by Verizon, business travel has a strong impact on employee morale and well-being, with the 73 percent saying that the stresses of being away from family and 64 percent citing other work piling up at the office as factors in their stress levels.
Balancing the Budget and Your Company’s Needs
This is not to say that videoconferencing is going to come free and easy. When you’re considering how to best implement a videoconferencing solution, realism must lead the way. You may be reaching people in various parts of the world, on various devices, and in different situations. As the share of mobile devices in the market grows, the savvy entrepreneur will take this into account. A highly mobile workforce is not nailed down to the desktop PC or running around town trying to find a Wi-Fi hotspot. Instead tablets and smart phones will be leading the charge away from expensive and proprietary room-based systems, immobile desktop and camera systems, and into a market where mobile devices, meeting rooms, and personal offices can all become part of a cloud-based multipoint meeting solution. Find a service like Blue Jeans that will let you connect all of those spaces together.
Getting Your Head in the Cloud
The cloud has gone from a buzzword to jargon, and from there to every day acceptable use. Functionality of cloud-based software, and it’s positive impact on the balance sheet has been a deciding factor in the growth of cloud and its use for new and innovative apps for everything from productivity suites to videoconferencing. Statista estimates that the growth of videoconferencing between 2010 and 2015 to as many as 3.5 billion users worldwide. The impact of cloud-based service models such as Waveapps, Google documents, and Blue Jeans multiway video conferencingcannot be underestimated. While the days of flying hither and yon and comp expense accounts will not die out anytime soon, mostly because people think they’re a whole lot of fun, more businesses are choosing to spend that money where it can do the most good and to save both time and money when they can.
Saving wear and tear on your travel budget will not only fatten your bottom line, but it can also make for much happier employees once the stress of frequent business travel is removed. The growing trend in corporate culture to seek work/life balance is attracting forward thinking business people, who understand that happy employees stick around. This is perhaps especially important when you’re first starting out and don’t have the top dollars to pay out in terms of salary, and your IPO is nothing more than a wish upon a star. Starting out the right way by picking a videoconferencing system based on your needs and budget can help smooth your road to a place on the NASDAQ.