A blog post by Jelena Shpolanska – Chief Management Officer at PayPugs
Retail banks sometimes present themselves as being at the cutting edge of innovation in terms of technology, product offering and customer service. Sadly, the truth is that they’re often very impersonal, bureaucratic and leave you with a lot of red tape to deal with on your own. This is a common experience for customers of larger banks that have a certain kind of corporate culture.
At PayPugs we offer our clients enterprise quality service with the agility, passion and open approach of a startup. Our senior team has years of experience working in the startup sphere and understands the value of retaining the key virtues that comes from a startup culture: a workplace environment that values creative problem solving, open communication and a flat hierarchy.
To respond to rapid changes in highly competitive markets, startups are required to remain flexible and very adjustable. Their size and company culture allow them to easily pivot: to adapt and change their strategy in a new environment, but also to differentiate themselves from the competition because of the company’s unique personality and authenticity. Therefore, it’s very important to identify the key elements of the company from the very start, that form the very heart of the company.
Things to consider:
- The environment of the company,
- How the company functions, and
- The product itself.
PayPugs and Startups
Of course, payment solutions are also at the core of any company and support the business structure. At PayPugs, we understand the need and pressure to grow as quickly as possible to secure market share. However, without the needed infrastructure and development of a company’s core values (culture in this context), many companies will run into pitfalls. PayPugs is uniquely equipped to assist startups on their journey because we understand and embrace these aspects of startup culture and provide specifically tailored solutions with a personal approach to suit your company needs.
Starting a new business requires a lot of multi-tasking and the learning curve is steep, but by partnering with us you will be provided with the necessary support, expertise and tools to lessen your workload. We’ll help you focus on what matters most to take your business to the next level.
Tips for Startups
Based on our experience and what we’ve noticed from working with various startups, here are a few tips:
- The most important thing is to understand your target audience and your end goal.
- Be careful with your cash flow (avoid the temptation to splurge on huge salaries and large expenses) and have a clear vision for the coming quarters, and for the years ahead.
- Take responsibility and stick to your plan – be accountable for your goals.
- Enjoy and capitalise on your startup culture. As a lot of things in your company are still fluid, barriers between departments and staff are low and there’s more interaction, communication and shared enthusiasm throughout the business. Your excitement, dedication and passion for the business will play a huge role in moving from a startup to an established, known name in your industry.
With PayPugs you’ll have a working partner, not a faceless entity, who’ll make sure that you’re always compliant, secure and have access to the latest payment technology solutions. Speak to our highly trained team today on how we can help simplify and customise your payment systems so you have the time, means and peace of mind to dedicate all your efforts to making your business dreams come true.