Storing Your Documents in the Cloud

Cloud storage is one of the best investments a small business can make. In the normal chaos of an entrepreneurial venture, storing documents in one place on the internet (i.e. in the “cloud”) can help accomplish several goals.

“In the normal chaos of an entrepreneurial venture, storing documents in one place on the internet (i.e. in the “cloud”) can help accomplish several goals.” 

In early stage companies, it is often difficult to keep track of all the documents, files, and tools that are being used. Whether it is one individual or multiple team members or resources, the lack of a central receptacle to house all company information can cause lots of wasted time and effort. This is particularly true when multiple team members need to collaborate on activities and there is no central office location.

Putting documents in a single place from the beginning has several benefits:

• Organization. A central location makes it efficient to stay organized and on the same page and to share documents and files with team members. It can also save time regarding the amount of files that need to be sent via email.
• Create Structure. In the early stages of a venture, it seems like every department and initiative blend together. By using cliod storgae and organizing that storage into departments or initiatves, you can create some structure and organization to your company.
• Collaboration. This can be a great way for geographically dispersed employees to work with each other instantaneously.
• Disaster Recovery. Having documents stored on the computer or other devices of team members can subject a startup to loss of this information if one or more of those computers are lost, stolen or fail to function. Having documents in the cloud provides you with a seamless disaster recovery mechanism for your documents.
• Security. Cloud storage companies pride themselves on security and in almost all cases documents and files stored with one of these professional service providers will be infinitely more secure than those stored on local hard drives and devices.
• Data Room. When and if you start an investment process, investors will expect you to set up a “data room” that houses all of your relevant documents that they would expect to see as part of a “due diligence” request. Cloud storage from the beginning prepares you for this from the get go.
• Efficiency for New Employees. When new employees join, you can simply direct them to the appropriate resources for easier onboarding and learning.