If you’re a digital entrepreneur or a tech innovator with aspirations of starting your own business venture, you will know how important money is for making that dream a reality. In order to economically start a business, as well as being provided with the means for flexibility and scalability, many startups look to cloud computing as a solution.
Databax is an SME who provide cloud hosting services to other UK SMEs. They understand the needs, as well as the limitations, of many small businesses. In order to see how other businesses have tackled these issues with cloud computing, Databax have caught up with UK entrepreneurs to find out about their experiences.
First up we have Lark Ismail, the founder of Lark’s Virtual Solutions. Lark’s Virtual Solutions is a virtual assistant and Internet marketing business, dedicated to finding online marketing solutions to meet their client’s needs.
What made you decide to start the business?
Freedom was the motivating factor for starting my business. By doing my own thing, I get to choose work I love to do. I also get to create the lifestyle I want and choose when I work, where I work and who I work with.
Did you face any difficulties when setting up the business?
I didn't know anything about business. I started right after graduating university and my academic background is in art history and psychology. Luckily, my background did provide me with strong research and analytical skills so I spent the first few months learning everything I could about business, marketing, my target audience, networking, legal contracts and finances. I still spend a good portion of my free time reading and it's become one of my favourite things to learn about. One thing I had to learn over time was knowing myself and my business. Now I know what's right for me, even if it's contrary to expert advice. There is lot of fantastic advice out there but it's not one size fits all.
What role does cloud computing play in your business?
My business is virtual and I've gone entirely paperless with my office so I have trouble imagining doing business without it!
Has cloud computing aided the growth of your business?
Cloud computing has increased efficiency, reduced costs, and added peace of mind. The cloud has reduced costs by streamlining my office. I don't need storage, filing systems or most office supplies anymore. I don't have documents or brainstorming notes lying around. It's a lot easier to stay organized! It's also increased security because any sensitive information is encrypted rather hidden in my office somewhere. I still remember how frustrating it was a few years ago when I was terrified I'd lost all my work any time my computer crashed or acted up. Now, if my computer has a meltdown, I can switch to another computer (or even phone or tablet), continue working, and still make my deadlines! Collaboration is a crucial part of how I work with my clients so it's incredibly efficient that we can all work on the same document at the same time. This allows us to get the job done faster and move on to more projects.
What advice do you have for others looking to set up a digital business?
Since a purely digital business doesn't have a storefront, customers can't stop in and take a look as they walk by. You're also competing with the whole internet, not just local businesses. I've met plenty of people who forget that you can't just throw up a website and expect people to just stop by. Don't underestimate the importance and cost of your marketing. Also keep in mind that the internet and technology is constantly changing so you can't stop learning if you want to keep up. If you stop, by next year you may not be an expert anymore.
Next we have insights from Tom Craig, co-founder of Impression Digital. Impression is a digital startup that uses cloud computing for every part of its business, including email, document storage, hosting, accounting, time tracking, HR, work scheduling, client reporting and CRM.
What made you decide to start the business?
Having previously worked in house with my co-founder Aaron Dicks, we'd both used digital marketing agencies in the past and had bad experiences trying to get effective support that genuinely added value to a company's bottom line. It was clear that there was a gap in the market, especially in a city like Nottingham where business growth was yet to be matched by a strong agency offering.
Did you face any difficulties when setting up the business?
We've always been entirely profit-funded, so have always had to keep outgoings tightly under control. Cloud software saved us money on costly servers and IT contracts, while most of the paid programmes we use are monthly costs - that helped cash flow a lot in the early days.
What role does cloud computing play in your business?
It plays a part in everything we do. Day-to-day, we use it for document storage, staff time tracking and work scheduling while for business management we use cloud accounting software and expenses reporting. For new business we've got a cloud CRM and then for the technical side of things we use cloud web hosting.
Has cloud computing aided the growth of your business?
Absolutely. It's allowed us to grow quickly without things ever becoming unsustainable. We've had the systems and processes of a big agency in place even when we were a startup - that's helped us build 10-strong team in just two years.
What advice do you have for others looking to set up a digital business?
Make things scalable from day one. Use software to keep the admin side of the business running like clockwork, from payments and invoices to monthly reporting. There are so many good business tools available now to make life easier, so use them. And finally, don't be afraid to spend money to get the best software - good things are worth paying for!
If you are looking to embark on a new business venture, but have aspirations of competing on the global marketplace against larger more established companies, take on board the insights and advice of these digital pioneers.
