Startups vs scaleups
The term scaleup is becoming more and more common in the business world and is one that is synonymous with startups. The key difference between the two is a simple one. Startups work in an environment of innovation and experimentation, with the primary aim being to get their business off the ground. Scale-ups, however, are companies you are more likely to have heard of. They have done the groundwork, and are well established in the market they operate in. Scaleups have a clear vision, a mission statement, employee progression processes, and a positive company culture.
Scaleups have already achieved a high-level of success but want to continue to grow and take the next step. Growth requires investment, and funding can be secured either from investors, or the company can use a method known as bootstrapping where they put their own profits back in to the business. By investing their funds wisely, the company can build on its success and significantly scale/expand the business, with the aim of generating more revenue.
Scaleups come with a higher confidence surrounding return on investment (ROI). When a startup progresses to the scaleup phase, the company will move on from the experimentation stage, as they now know what works for them. As a result, investors are more attracted to scaleups as there is less of a risk investing in an established brand that has shown it knows what attracts their customers. The combination of high growth and reduced risk is an attractive one for any investor.
When does a startup become a scaleup?
There are no set criteria for a company to reach before they need to scale up. Every company is different. It is even possible for a company to being to scale up without even realizing! One indicator that a startup has become a scaleup is the different stages of funding. Startups require funding to get the business up and running and tend to try and explore new methods to make their business work. They will take risks along the way to find what works for them, whereas a scaleup is looking to use their funding to grow their already successful company.
Another key difference can be found in the makeup of the business. Startups usually have a few employees that perform several different roles. Scaleups on the other hand, will have a workforce full of employees working in their specialist areas, which has been afforded by the increased funding in the business.
How can HardSoft help?
Here at HardSoft, we have helped a plethora of companies during their scaleup phase. Click HERE to see how we have previously helped our customers! It is vital for any scaleup to provide their specialist staff with specialist devices and IT equipment. The problem is that spending vast amounts of your funding on IT equipment can put a substantial dent in your budget, meaning fewer funds are available for other areas of the expansion of the business, hindering its growth. That is where we can help!
When you lease devices from HardSoft, there are no hefty upfront costs or deposits, and payments are made monthly or quarterly, which is a huge benefit to the cash flow of your business. Get the high-end equipment your team needs, but also fund the other parts of your scaling up stage!
Our Devices for Teams solution allows you to equip your team with the latest devices, but without the huge upfront cost! HardSoft offers a choice of Premium or Essential D4T. Both variations include full 360° Support Wrapper with every device that you lease. The difference is that Essential D4T covers the basics and is available at a cheaper rate, ideal for businesses looking to prioritize affordability over flexibility, and your devices are returned at the end of your lease. Premium D4T costs slightly more, but you can Switch, Add, and Return your devices during your lease.
Flexi-Lease allows you to CHANGE, CONTINUE or CANCEL your devices as your business evolves! This allows your workforce to have the latest tech at their disposal. At the end of your lease, you can gain ownership of your equipment for just £1! Flexi-Lease also gives you access to HardSoft’s Service Wrapper, so your devices are secure and supported throughout the full 3 years. By paying monthly or quarterly, you can avoid the huge upfront costs of supplying the workforce with the IT equipment, while also ensuring they have the best new devices! Flexi-Lease adapts to your needs.
Our Pure-Rental solution is exactly that. Not every business needs to keep their devices at the end of their lease, and some scaleups will prioritize affordability over flexibility. Pure-Rental offers our customers a way to further spread the costs providing your team with expensive IT equipment. With this solution you can save up to 25% on Mac or PC rentals, and you still have access to HardSoft’s service wrapper during your lease! Lease your IT equipment at a discounted rate, scaleup your business, and at the end of your lease we will return to pick up your devices. Simple!