Signs to recognise when you’ve become too big for your Startup boots.
Meeting clients minimum standards
As a startup one of the first signs of maturing business is that your clients are getting larger, requirements and expectations become more demanding. A client which asks you to meet their standards before considering you for a large contract is a sign that you will need to get your business operations aligned for growth in order to attract and keep larger businesses.
Clients minimum requirement list could include the following:
Security, control and regulations: Security Accreditation’s
From an ISO 27001 standard, aimed to help businesses keep information assets secure, to a full PCI (Payment Card Security) accreditation, and access controls governance protocols, security is at the top of most C-Level decision makers list when choosing a third party supplier. The process to become accredited can be quite lengthy and will take a fair bit of investment too. This is one of the CAPEX costs that will actually ensure your business operations are as efficient, safe and secure as possible and can actually increase productivity across the business as well as helping your company access new markets. Considering cyber attacks are increasing year on year, most clients will demand your business meet the approved security standards. Veber is ISO 27001 accredited.
‘How often do you run Pen Testing?’
Whether you have website, an api, mobile app or have an interface using IOT devices, each and every startup business is vulnerable to an attempted breach. You must have heard the term “It’s not if, it’s when” in regards to cyber attacks. The value of running a penetration test across your network, database, apps and website is that you will be regularly identifying every possible entry point which is vulnerable to a break in attempt and understanding what the implications are and the action to take.
Your IT & hosting requirements must include:
Acceptable downtime – Establish with your hosting provider how much downtime is acceptable for your business
RTO (Recovery Time Objective) is the time that it could take to get your systems back up and running after a failure.
RPO (Recovery Point Objective) is the amount of data you can afford to lose if a server or database has a failure.
SLA, 99.99% of uptime and service credits
Business critical fail over
Active-Back up or Active-Active
Backup and Resilient Datacentres
Finance and software tips:
Back office needs to catch up with front office
Ensure billing and payments are kept in a timely manner
Look after your cash & don’t spend all your money before your business actually successfully making a profit.
Don’t find yourself in the position where you have money sitting out in unpaid invoices that you actually need to keep the business operational.
Working as a team:
There is no ‘I’ in team so work hard on the right fit as one person can cause unrepairable damage to a startup.
Don’t over-stretch people – There’s no use hiring a Jack of all trades master of none
Accept when it’s time to bring in re-enforcement and outsource some projects or areas of expertise such as IT managed service. Let other companies do what they do well for you so you can focus on what you do well.