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Month: October 2018

Blog, Business Tools

Mobile Apps to Help Startups Thrive

Startups are in a unique and precarious situation in the business world. In some sense, there is less risk involved that with a larger company as not as much is on the line. On the other hand however, there is also less stability. A company that already has capital and investors has more wiggle room for mistakes. Startups must learn how to maintain growth while also establishing a leadership position. Fortunately, there are a few mobile apps that can help make this process much easier and more efficient. NuvoDesk has compiled these great apps that will help entrepreneurs and startups to increase their productivity, save money and earn more money.

1. Gusto 

Gusto is an application that helps to simplify many aspects of human resources such as employee benefits, payroll and more. HR is a difficult area for many startups to develop as it costs a considerable amount of investment and requires some complicated paperwork. Gusto greatly simplifies these challenges by automating payroll, tracking payments and offering a shared network where employees can access files and other important information. This app was launched in 2011 and has since become a staple amongst startups around the country. It’s easy to use and offers some great monthly discounts.

2. Dropbox 

Dropbox has become one of the most recognizable applications for businesses both large and small. In fact, this app has over 500 million users across the world. Dropbox is primarily designed to store documents, videos and other file types without taking up room on a computer. It represents a safe and convenient way to store data and important documents. Dropbox is currently used by 200,000 businesses to help manage and secure important files. This application also makes it easy for employees to access a shared network of data from any location.

3. Evernote 

Small businesses and startups balance on a fine line between steady growth and quick failure. Miscommunication is one of the greatest causes of mishaps and mistakes within the startup world. All entrepreneurs who rely heavily on communication and collaboration should consider using Evernote. This application simplifies the process of communication by offering a cross-platform where coworkers can share ideas and information in the form of written, visual or verbal formats. Evernote also allows users to attach documents and other data files for added clarification. This app works on all sorts of devices to help increase efficiency.

4. Slack 

Maintaining consistent contact with employees is even hard in a small startup. Even the smallest companies have separate teams that must operate on individual projects in order to keep business moving. Slack is an application designed to help entrepreneurs maintain contact with their employees in an easier, more organized way. Instead of sending endless emails or memos, Slack allows users to create forums for individual or groups discussions. These discussions can be targeted to whole groups or only between two people. Users can also share documents with other members of the chat. Both phone and video call options are available.

5. Zoom 

With a rapid increase in technological abilities, companies are finding new ways to connect and communicate. One of the most popular forms of connection for the 21st century is video conferencing. This allows startups to conduct regular meetings without the need for all employees to be in the same place. Zoom is a video conferencing application that is widely regarded as the best provider for this service. They offer an intuitive interface where users can make several different video calls. Zoom is currently used by almost 700,000 users around the world. This application is a must have for any small businesses that operate internationally or with employees who simply can’t be in the same place all of the time.

Growing a small business and running a startup aren’t the easiest of business ventures. They require a lot of commitment, risk-taking and dedication. Fortunately, there are a few applications that can help make the process a whole lot easier. These five apps can help companies to enhance communication, increase productivity and organize important documents. All of these components come together to create a growing business that is destined for success.

Blog, Startups

The Most Common Mistakes Made By Startups

 

Launching a startup requires a lot of time, effort, and financial investment to make sure that it will succeed. You’ll also know that any mistake could potentially derail your entire operation.

You may think that keeping a look out is all you need to avoid any major pitfalls, but the truth of the matter is that mistakes happen to everyone. Even the most successful entrepreneurs around make mistakes: like Contently co-founder Shane Snow, who tried to do all the work himself until he realized his business could only succeed if he hired people whose skills complimented his own; or Moz co-founder Rand Fishkin, whose earlier consultancy firm lost over $500,000 when he hired only “yes men” who didn’t offer opposing viewpoints.

If you make a mistake, you learn from it so you won’t make it again. After all, doing the same thing over and over expecting different results is one of the definitions of insanity. This is what separates successful entrepreneurs from unsuccessful ones: it’s not that successful ones don’t make mistakes, it’s that they learn from them and devise new plans to get around them.

Below are 4 of the most common mistakes startups make, and tips on how to learn from them.

Not Having A Solid Business Plan

If you don’t devise a plan for your business, you’re going to get lost and waste a lot of valuable time. It would be like driving from New York to California without a map. A plan is necessary to help grow your startup. You will need financial projections, descriptions of your products and services and how they help people, a comprehensive marketing analysis, and a complete overview of your organizational structure.

If you launch a startup without a plan, you still have the chance to fix your mistake. All you need to do is sit down and come up with a plan with either a consultant or a colleague who can craft one.

Not Setting Reasonable Goals

Success isn’t just about how much money you make – it’s about your ability to achieve the goals you set. While people interpret success differently, all of them involve goal-setting. A realistic goal is more than projecting annual revenues a decade from now – it requires asking yourself what you want your life to look like down the road. In fact, a recent study suggests that 90% of Americans believed success was more about achieving happiness than becoming rich and famous.

Setting business goals should be a part of setting general life goals. If you reach your business’s goals but you yourself are unhappy, this will hurt your business in the future. If your goals are too narrow, consider what is necessary to ensure your happiness. Integrating this into your goals will help you not only grow your business, but achieve personal fulfillment as well.

Not Having A Good Staff To Cut Costs

You know it’s better to go to a doctor than to diagnose yourself if you’re sick, because you know that doctors know more about medicine than you do. The same applies to business, as most business owners aren’t going to know everything there is to know about their company. Thinking you can run a business on your own will cost you.

If you want your startup to succeed, you should hire good people, because trying to manage everything that goes into your business – like understanding tax laws, IT infrastructure, and inbound marketing – will cause it to be far less efficient, and it will suffer as a result.

This is one area where you should contact NuvoDesk. We strive to help business owners like you succeed. If you work with us, you’ll have access to our coworking, office, and meeting spaces to collaborate with like-minded people and meet your business’ needs. NuvoDesk is the top name in coworking Arlington has to offer.

Not Committing Yourself To Your Startup

If you leave your day job to create your own business, you can’t just expect to just fall back on it if problems occur. If you get a call at 3 in the morning saying that critical supplies will arrive a week late, or that your computers have all crashed, don’t put it off or delegate it to someone else. You can’t run your business on a whim. If you make this mistake, reassess the assumptions you had in running your startup and commit yourself to doing everything you can to ensure that your business is a success. If you can’t do this, then running a startup isn’t for you.

If you want to learn more about our office and coworking spaces and how they can help your business succeed, contact us. We are the top minds in coworking Arlington has to offer.

Blog, Coworking Space

The Coworking Spaces of the Future: Navigating the Changing Landscape of the Workplace

 

As we attempt to navigate through the uncharted landscapes of the digital age, we are entering new territory yet again. Currently, it’s estimated that more than a million people are headed toward a coworking space, not an office, when they leave home in the morning. 

Coworking spaces provide a shared community environment for members of the digital freelancing world or other self-employed individuals, such as authors or artists. However, some larger companies are also using coworking spaces to house staff members these days. In many cases, it’s the easier and more affordable option. It also provides networking opportunities that might not exist otherwise. 

For the everyday self-employed worker, coworking spaces provide more amenities than a coffee shop and offer the potential for more social interaction than one would have at home by themselves. 

The Evolution of the Coworking Space: What Does the Future Hold?


As the digital age continues to lead more and more people to work for themselves and be independent of location, the need for more coworking spaces will continue to rise. Experts are predicting that by 2020, a few trends will be evident. 

1. Researchers Will Be More Involved in Coworking Spaces


Researchers from large corporations are always interested in learning about the most efficient ways to increase production, morale and satisfaction in the workplace. Coworking spaces involve various groups and individuals working toward separate goals within the same space, which allows for an interesting research environment. It also allows for collaboration efforts between individuals, startup teams and innovative researchers from larger companies. The results will likely benefit everyone involved and could lead to an entirely different mindset about the workplace. 

 

2. Coworking Spaces will Expand into Needed Areas


It’s estimated that there are more than 18,900 coworking spaces worldwide in 2018. That number has continued to go up each year as more companies realize how great of a demand there is. Coworking spaces are especially popular in foreign countries that are popular among western digital nomads, such as Thailand, Indonesia and India. However, more spaces are also needed in the middle market of the United States, and a great deal of expansion is likely there. 

For example, coworking spaces were hard to come by in Arlington, TX, until recently, when NuvoDesk opened a 20,000 square foot location there. Now, people in Arlington will have more options for how they carry out a day’s work. 

States like Illinois, Ohio, Indiana and Michigan are all seeing big coworking companies expand into their cities. There is such high demand that some companies are even planning multiple locations within the same area. According to data from Forbes, experts are predicting that up to 50 percent of the work force will be self-employed freelancers by the year 2020. Many of those people will be using coworking spaces, and that isn’t even including the employees of larger companies that will be moved from offices into these spaces. 

The decent quality of life and low cost of living is another reason that companies and freelancers alike will be eyeing the Midwest in the coming years. The coasts are becoming too expensive for many people, which means the Midwest can expect to see plenty of growth before long. 

 

3. Coworking Spaces will Grow to Be More Niche


Another popular trend will likely be that coworking spaces will become more niche. There are already quite a few niche coworking spaces that exist today. Some are designed for people who work in law. Others were created for female entrepreneurs who prefer to work in a space for women only. There are even coworking spaces for people who work in industries related to the great outdoors. As you can see, the possibilities are pretty limitless here, and since different people prefer different work environments, it’s safe to say that the demand for these various niches will continue to rise in the coming years. 

Niche coworking spaces are about more than simply working around like-minded folks. Depending on the industry, there may be a real physical need for them. Many types of technology, such as IoT, require a great deal of product testing. People are using coworking spaces for more than just computer work now, which means they will need to be designed accordingly. We can expect to see a rise in coworking spaces specifically designed for various types of physical assets and the exploring and testing that goes along with them. 

If one thing is clear when examining the development of our economy, technology and working styles over the past couple of decades, it’s that things can change very fast. As the interest in alternative styles of work continues to grow, more companies will rise to meet the demand. 

If you’re interested in joining the coworking Arlington community, contact the team at NuvoDesk today.

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