Most successful startup companies started out with just a handful of employees, a few pieces of equipment and lots of ideas. But as a startup grows, the requirements for technology, equipment, and software to support that growth can quickly lead to problems if those tools are unable to accommodate your evolving needs. Every change made to a tool, process or organizational structure can trigger a setback with so much continuous change.
The growth curve for startup companies
A core challenge for every startup is coordinating growth and managing the added organizational complexity as the company expands. As seen in this infographic, startup companies should consider their own growth curve of revenue over time when choosing software tools that can grow with them:
Outgrowing your capabilities
The obstacles that startups face when commercializing their products can be extremely challenging. As you scale and grow, you run the risk of outgrowing the capabilities of the software you purchased in the beginning stages of your startup. Many companies also see a significant increase in employees over time which may require additional software licenses and server space. Selecting the right tools that don’t require consistent maintenance or upgrades is crucial at this stage of your business.
Listen as Chad Jackson from Lifecycle Insights talks about the importance of a specific point in a startup’s growth curve in this short clip from his on-demand webinar Building a sound digital foundation for hardware startups:
The need for a strong digital foundation for startups
How do you build a sound digital foundation for your startup? How do you ensure that the needs of new people and processes are met without unexpected investments in upgraded software?
Investing the time and effort into identifying a provider who can partner with you will be key to minimizing costs and ensuring success. A provider that can grow with you and provide the support, software, and collaboration required along your startup journey. A provider with a large, established portfolio of solutions that can be tailored to your specific needs. These factors should be taken into consideration at the beginning of your growth curve to establish that strong digital foundation upon which your startup can successfully flourish.
To discover how startup programs can ensure success with digital software, read the ebook or watch the on-demand webinar by Lifecycle Insights:
Learn more about growing your startup to its full potential with Siemens software solutions for startups.
Check out the other blogs in this series about building a strong digital foundation for startups: