4 Tools All Startups Need to Start Up Successfully

It’s definitely exciting when you first embark on a new startup. However, like any other business venture, it can be risky. While there is a chance of making a sizable amount of money and becoming financially secure, there is also a chance of going bust. Hence the importance of capitalizing on as many personal tools as possible for guaranteed success. Here are four tools to make your startup an immediate success.

Organizational Software

In any startup, leadership is of paramount importance. One of the best ways to exhibit leadership is to  ensure everyone is on the same page. Luckily, in this day and age there is a whole host of organizational software available to even the smallest business or startup.  Organizational software can provide a digital drawing board for easy remote work, and instant responses that traditional meetings, agendas, and minutes cannot.  Certain organizational software programs are cloud-based, and can also manage your team’s time, online meetings, client documents, and customer outreach.  As a startup business owner, your investment in good organization software will become the foundation that your company expansion is built on.

One example of organizational software is Trello board.

Point of Sale Software

Point of Sale (POS) software is crucial for today’s businesses. Modern POS systems include features to protect customer data from cyber threats, which is a must if you’re aiming for PCI compliance.  

Setting up POS software for your business may seem like a daunting process, but it is actually much easier today than it used to be. In fact, there are even POS systems that can run off of a tablet or mobile phone. All you have to do is follow the provided step-by-step instructions to set it up. Be sure to allow yourself a couple of days to set it up fully before you expect to use it.

The Right Business Structure

There are a number of ownership structures you can utilize for your startup, including sole proprietorships, limited liability partnerships (LLP), C-Corporations, and limited liability companies (LLC).  The ideal business structure for you depends on the type of goods and services your business offers, taxes, and the extent to which you’re willing to be personally liable for the business outcome.  If you’re unsure which business structure best suits your business needs, do contact an attorney and tax professional for additional guidance. 

Keep in mind that there are many states that will not allow your startup to be an LLC if the service you are providing requires some type of state license. Moreover, you may even need a business license. Whichever ownership structure you decide upon, we can help you set it up effectively.

A Trademark

A trademark can become your startup’s most valuable asset.  Trademarks are important intellectual property for your startup because it a trademark becomes your business’ brand.  Trademarks are vital to protecting your business, as they help you preserve your brand name, logo, slogan, website domain name and much more. You will want to consult an intellectual property attorney for additional information on how to make intellectual property part of your business strategy. 

Contact Lum Law Group and ask us how we can provide you with the tools to  establishing a successful startup business today!