The term “startup” is one you will almost certainly be familiar with, but what does it mean? A startup is someone’s passion, focusing on an idea, and finding a way to achieve their goals in the market. In the first steps of the new business, the startup entrepreneur will have a vision of a product or service and outline a set of characteristics. From there, a business model concerning funding, customers, logistics etc. will be drawn up. The entrepreneur’s vision will then be pitched to an investor. If the investor likes this idea, they will fund the business in exchange for part of the company. With this funding, the entrepreneur will now have the capital to lay the foundations of their business, product, or service.
Types of startups
Lifestyle startup
These types of startups are founded by self-employed entrepreneurs. These people may be professionals working as freelance coders or web designers, who have been able to turn their passion in to their career.
Small business startup
Small businesses are run by those whose sole intention is to “feed the family” and is not designed to scale. These businesses include hairdressers, grocery stores, bakers, electricians etc.
Scalable startup
Scalable startups are founded with the intention of dramatically changing the market, and even the world! Some examples of scalable startups are Google, Facebook, and Uber. These startups hire the very best, and look for a repeatable, scalable business model. Once they have this, the founders will then look for more capital to boost their business venture.
Buyable startups
Buyable startups are founded with one goal in mind. It’s not to build a global company with a multi-million-pound revenue, but instead it’s for the business to be sold to a larger company. In recent years, the trend of startups offering web or mobile app solutions being sold to larger companies has become more and more common.
Difference between startup and small business
Previously, startups have been defined as a “tech company with less than 100 people”, which is not necessarily wrong, but it is not completely true either. There are huge differences between startups and small businesses. A startup will look to disrupt the market and seek high revenue, rapidly. A small business would look to achieve its goals through a long-term, stable growth in the market.
When is a company no longer a startup?
At some point, every startup loses its startup status one way or another. The business could fail, become a successful company, or go on to become a scaleup. If a company is buying other startups, or investing in other companies, then it is no longer in the startup phase of its business venture. This is also true if the founders are longer taking high risks, seeking large investments, or using their own personal capital for the business to survive. To put it simply, if a business is bringing in high revenue, has a large team of well-paid employees, and its brand name speaks for itself, it is no longer a startup.
How can HardSoft help with startups IT?
Startups do not have a lot of cash to throw about. Entrepreneurs need to think outside the box to stretch their budget and make every penny of funding count. One part of a startups early stages is to provide employees with the IT equipment they need to play their part in getting the business off the ground. Now, it is not an understatement to say that the IT equipment available can go a long way to making or breaking a startup. Supply your workforce with cheap devices to save money, and it could impact your team’s efficiency and performance. Pay out for high-end, expensive devices so your team can work productively, but the upfront cost can be huge, the devices will depreciate over time, and you have taken a huge chunk out of your budget. So, what do you do?
Our solutions for startups
Flexi-Lease gives you all the options. 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. You can CHANGE, CONTINUE or CANCEL your devices as your business evolves, so you will always have the latest tech at your disposal. When your lease is up, you can gain ownership of your equipment for just £1! HardSoft’s Service Wrapper is also included with Flexi-Lease, so you are secure and supported throughout the 3 years.
This range is ideal for start-ups as PreLoved provides a cheaper alternative to their tech needs! PreLoved equipment may be used but are in excellent condition and still deliver a first-class performance! PreLoved devices are available at a cheaper rate, with warranty included, and on an 18-month contract. You also get automatic ownership of your equipment at the end of your lease! This allows businesses to provide employees with powerful, top-tier equipment, without paying top-tier prices! Why pay huge sums for the same equipment?