Operations are fundamental for any business, so why do so many founders oversee this crucial overhead when they are trying to start a business? Without a product or a service, you don’t have a business, so understandably this is going to be your focus when trying to get something off the ground.
But overlooking your operations can have disastrous consequences. Imagine your product is finally ready after months of painstaking R&D but you don’t know how to push it to market? What happens if customers want to complain? How are you going to accept payments?
Setting these operations up last minute is going to cost you time and cripple your momentum. It can be hard to keep your team engaged and by the time you are finally ready to pull the trigger, your product isn’t needed any more.
Execution is key and today that is more paramount than ever; without having the basics sorted, any business is going to suffer.
We see a lot of VC’s in London building out their own operations teams as well as partnering with us so that their portfolios have the support they need when growth is a must.
Key areas any business needs to think about:
- Technological Capabilities.
These pillars will support your business from day one, allowing you to keep the momentum throughout your growth phase. But remember when budgeting for this, you might not need to hire full-time staff for these areas. Remaining agile by having a flexible workforce will help reduce risks by lowering fixed costs and give you multiple specialisms on-demand without lengthy traditional onboarding times.
Remember, operations are the beating heart of your business. Making sure that they are working efficiently is the base of any great business.