Why (you) need to create a knowledge base 💡

Photo by Christin Hume on Unsplash

If you’re a startup, a knowledge base is a good firm source of information for a new business that is still learning about itself. You’re running wild, and you’re trying to get a million things done, and the truth is that you’re really flying by the seat of your pants and making it up as you go! During this incredibly hectic time, instant access to data is crucial. Your knowledge base can contain all the necessary tools to do business and keep things focused. When you learn, create or dream up something you know is going to be important, it’s got to go in one place, and it’s got to be a place you can get to.

Why do you need a knowledge base?

A knowledge base is in many ways a good guide to business operations and practices. Because all businesses are different, you need to put in some time and thought to your exact needs. You and your clients need certain information. You can systematically structure an knowledge base which covers all practical business needs, and improve your business efficiency while you’re at it. And when you’re flying blind next time (it’s a startup, it’s gonna happen!) you’ll be a little bit closer to having a guidebook. You’ll feel a lot better, trust me.

You can, in theory, do a startup on the basis of whatever information you have. That can only work for so long. Imagine starting a business in which you’re not even too sure of your own facts. It’s about as legally and commercially safe as it sounds. IE, it’s not and it’s going to be a disaster on par with made for TV sequels and out of date microwave meals.

It’s also definitely not a good look for your business. Have you ever dealt with a business which seems to give you differing, or even contradictory, information? It’s a surprisingly common problem. If you have dealt with a business like that, you’ll see the very big problems the lack of a knowledge base can cause. When you’re coming up with one thing today and another tomorrow, and you don’t know where you’ve come from, where you are, or what to change next, nobody is even going to trust that you’ve got your head screwed on right!

Knowledge base essentials

Over time, your business will need formal information in place for customers, your staff, and any type of regulatory compliance required. That’s a lot of stakeholders. And it’s the makings of a headache at best and a company-wide wipe-out at worst if you don’t stay on top of it.

Core knowledge bases are structured to include:

• Products and/or service information:This information is core business, therefore it’s a core part of your knowledge base at all times. This information basically defines your business for customers. It includes everything your clients need to know how to buy your products and services.
• Business operational systems:These systems generate a lot of information which has to be organized and accessible for marketing, management, and operations. You need to be able to extract data as required, and formulate it in to reports, real time systems, and similar vital business operations. Please also note that these systems are typically required to deliver information for compliance purposes, too.
• Management information systems: Management information systems include sourcing data from your other systems. This data may be specific or very broad based.
• Databases for customers, accounts, etc.:This data is required for everything from ongoing business to business accounts compliance. The knowledge base dovetails directly in to key business figures and analytical needs.
• Client relations management:For a startup, client relations are top priority, Even if you may not have too many customers just yet. You need a whole knowledge base in place, so your staff know how to deal with issues. You need records of client interactions, disputes and decisions.
• Contract management:These are truly critical systems in their role. Contract management systems must be in place and fully operational for best practice contract operations.
• Human Resources:The HR knowledge base is integral to any business. Your knowledge base must include all the resources for employee information, onboarding, training, and more.

Get help setting up your knowledge base

From the overview above, you’ll have noticed that the startup knowledge base needs to be very business-specific. This knowledge base needs to be in place, and fully functional, from the minute you start business.

Important: Don’t assume you can put together the knowledge base yourself.

There is a truly huge knowledge base required, even for a new business. When setting up your knowledge base, talk to the experts. They will systematically work to help guide you and ensure your knowledge base is complete and comprehensive. You don’t want something that’s created to just tick a box. If you put the effort and energy into it, you will get a “custom” knowledge base, perfect for your business and any support you need.