How To Manage Time & Budget When Growing A Startup

Oct 6, 2016

Startup life can be challenging: between budget, logistics, deadlines, and demand of resources, it can seem like you’re in a constant cycle of stress, long hours, and transitional phases that come with any new venture. Thus, staying organized when growing your startup, with keen attention to budget and time-management, can help you acquire resources, build valuable connections, and be confident in the purpose of your company and its direction towards success.

 

Establish A Budget

Often within the startup culture, money can be tight. It’s critical to be practical and transparent when creating a budget for your startup, rather than spending frivolously. It’s okay to browse different companies before purchasing services in order to make sure you get the best rate. For instance, some larger, web design and graphic design agencies require astronomically high prices, while not many smaller agencies exist to secure you a better price for high-quality work.

Taking the time to calculate numbers, determining whether or not you are able to find investors to help fund your company, and perhaps discussing your position with a financial advisor will allow you to gain perspective as to where your business and its funds stand, before making any hasty decisions.

 

Manage Your Time

Figure out where you are needed most, and which tasks are of greatest importance when determining how to grow your startup. For instance, will you drive growth by focusing on sales, through networking and fostering deep business connections, or are you more useful within financial, project management, engineering or creative design? Figure out your niche. Hiring other employees and developing strategic partnerships, such as a design agency for lean startups, will alleviate some of this pressure and enhance both productivity and speed.

Creating an organizer of daily tasks, project timelines, a priority ranking, and a list of people to follow up with can be incredibly beneficial for deciphering which tasks are most pressing and for keeping tabs on pending projects and commitments. Take meetings with valuable people, be strict with deadlines, hire wisely to boost company culture, and always keep your company’s purpose and goals in mind.

Once you establish the priority list for projects and understand your budget, it’s time to decide whom to partner with in creation of design, branding, content, and a website. Your website will be your 24/7 ambassador, and it needs to effectively evoke your company’s purpose, voice, and passion. Building relationships can help grow your business, so it’s important to find skilled, trustworthy people to work with, who can bring your startup’s vision to life through design, words, and marketing strategies.

Since larger agencies often require a hefty price tag, they are not always the most practical for startup companies. By working with an agency that allows flexibility, reasonable prices, and time-based completion of your choosing, you’ll have more control in the process and not feel any disservice.

What’s so great about Katie Lord Inc, an agency that helps startups and companies link digital strategy, design, and technology to engage customers and create affordable and beautiful experiences, is its unique points system.

With this system, the agency allocates a number of points to your task list, each week, based on preference and priority ranking. Price depends on number of points, so for instance, with a tighter budget and smaller project, you can opt for a smaller fee for 16 points, and for a larger budget and project, you can spend a little extra for 32 points each week. The more points, the greater amount of time Katie Lord Inc. will spend on your task list.

This expedient and financially practical system enables you to remain in budget, entrust a team of experts to handle time-management based on your discretion, and walk away with a design that embodies the company’s vision and needs.

As partners, you will receive bi-weekly meetings to review progress, full access to working files, and the ability to view task lists throughout the process, so that you are constantly in-the-know on what tasks we are working on during the week. The speed and budget of the project is completely up to you, and these two factors will pave the way for your business’ growth, responsibly and resourcefully.

To learn more, contact info@katielord.com.

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Katie Lord

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(773) 466-4077 info@katielord.com

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