How to start a business in IT in 2020

How to start a business in IT in 2020

How to start a business in IT in 2020

Today, many people would like to do their own business so as not to be an employee. Not only young people dream of this, but also quite respectable by age people who already have a certain experience, means, and desire. Both those and others need to know the best business ideas of 2020 to choose an appropriate occupation, not only for money but also for the soul. Also, the study of ideas for the business itself may lead to the creation of something completely new and very profitable in the future.
Becoming a successful entrepreneur is not an easy task, but quite achievable. In any case, success comes with experience, which is built on both achieving progress in business and failures. Success comes with willpower, an innovative approach to business, providing quality service to customers and the desire to make your product even better.
The gradual economic recovery in 2020 will allow novice entrepreneurs to realize many interesting business ideas. There are enough options and sales channels through which you can attract your customers, for example, marketing, remarketing, lead generation, direct and indirect sales, dealers and partners in different countries.
What do you need to open a modern IT company with the outsourcing and outstaffing dedicated team business model.
A site with a presentation of your services. We are used to the Internet now. We are looking for everything on the Internet as well as we communicate via the Internet. Therefore, customers find your site and speak with you via chat or contact form. In order not to develop a site from scratch and pay $ 5000 for it, you can buy a WordPress theme for $ 50 and add the desired text in English. If you need a high-quality translation or rewrite, you can use the Upwork services, a full translation of the site into professional English, writing texts, etc. will cost about $ 150-300.
Register a company in a convenient location. Today’s choice is the Baltic countries, where they even issue electronic citizenship. The service has developed to such a level that even in some cases you do not need to go somewhere, for 500-2500 euros or dollars they will open a company for you, register in all instances, provide a legal address and open an account with a local bank.
Calculate the business model and determine your costs for office, coworking, or a rented apartment and determine the effective sales rate. Choose a model of cooperation with your developers: freelance or hire staff? If you choose a freelance, work with a team when there are any requests. If you want to hire staff, you need to load up work and pay salaries regardless of whether the customer pays you or develop your products.
Sales channels are important for opening an IT company. Mostly hot-selling sales take place first. When there is already a specific need, they know you, trust you, you draw up all the documents, assemble a team and take the project for development. This is typical for a good start for the company. From the first day, the beginning of work on the project, you need to look for the next one if you want to continue the business and develop. When the project ends or stops, there should be a cash reserve for salaries, rents, and taxes.
We described the channels for attracting leads in the article and made a short vocabulary of sales. Start with the necessary tools for lead generation. Fine-tuning the processes and speed of work is another matter, here we need an experienced sales consultant to show possible results from certain actions. But in the beginning, you can and should sell it yourself.
A common mistake for beginners is to neglect their company’s presentation to potential customers. The face of the company is the number of completed projects, a stack of technologies that have the expertise, as well as recommendations from customers. Also, you need to think about how your company differs from competitors. There must be something extraordinary. Among the standard offers from companies, we often see a free 2-week pilot or price reduction for the first month. However, you need to remember that a very low cost is not the best idea that leads to a reduction in company profits. The issue of pricing is another potential bottleneck in the business of novice entrepreneurs. You can focus on average market rates, but the most important thing is to lay in the initial contract an increase in the cost of your services. The market is changing, and if 3 years ago you were satisfied with a certain price, now it may become unprofitable.
The wrong approach is to try to provide universal services for all possible customers. It is worth defining your type of client, which you will be guided by.
90% of IT companies have difficulty in marketing at different stages. To maintain the pace of development of the company, consult with experienced colleagues on how to improve, what to modernize and how to manage a team and company.

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