Do you know that 20% of small businesses fail within their first year?
One of the primary reasons for this is poor small business management. Many new business owners think they can handle everything on their own. But as the business grows, they quickly realize that they can’t do it all alone.
As a small business owner, you need to be able to track your finances, manage your inventory, and keep your customers happy—all while wearing a million other hats. It’s a lot to juggle.
This is where small business tools and software come in. The right tools can help you automate tasks, stay organized, and improve your customer service.
There are a lot of different small business software programs and apps. So which ones do you really need? We’ve rounded up some of the essential ones that every business owner should have in their toolkit.
When operating a small business, you should be concerned about the number of traffic your website generates.
You must also understand where the majority of the traffic comes from. For a small business understanding the traffic generated and where most of the traffic comes from is essential when developing marketing strategies.
Without the appropriate tools, tracking how much traffic your website generates and where most of the traffic comes from can be challenging. This is where google analytics becomes invaluable.
By using Google Analytics, you can determine the number of times your site has been visited. You can also determine from which country or location your viewers originate.
The use of charts and graphs by Google Analytics makes data analysis easy even for the least tech-savvy individual. So, if you have been having a hard time determining the number of traffic your website generates, it’s time you adopt Google analytics.
Cabinets filling with loose documents that keep piling up is a challenge most small businesses face.
You can solve this problem by taking advantage of Echosign. An EchoSign is an eco-friendly software that allows you to upload and send a document to a third party.
It also has an e-sign capability that allows you to sign contracts without needing a scanner or a printer. When you have an EchoSign, you only need to enter your name and initials, and the tool will save the documents for you.
After saving your documents on the Echosign, you can reference them anytime. If you are tired of spending your money on paper, printer ink, and a scanner, it’s time you get an EchoSign. You will save your time and money running your small business.
Collaboration tools are essential to a business, especially if you have a remote team.
Adopting these tools makes it possible for team members to work together regardless of their location. In addition, the tools create a network where employees can exchange ideas and share resources.
An example of collaboration tools is Google Docs and “friends.” Friends, in this case, refers to other collaboration tools that collaborate with Google Docs, such as sheets, slides, and excel.
When using Google docs, it’s possible to store files in a Google drive where any member can edit them at any time.
Gone are the days when employees had to gather in a common conference room for meetings.
When employees move from their locations to the conference rooms, a lot of time is wasted. With the right communication tools, it’s possible to have a meeting from the comfort of your home.
With communication software such as Google meeting, you can hold meetings with your employees from their place of convenience. Besides, these tools allow employees to have meaningful conversations based on cohesive decision-making.
CRM and ERP Tools
Customer relationship management (CRM) and enterprise resource management (ERP) are tools essential to the success of a small business. CRM helps you manage how you interact with your customers, while ERP helps you connect financial and operational functions to a central database.
One of the best CRM software you can adopt is the Hubspot CRM. This is a free CRM software that offers automation features that makes it easy for you to keep track of all customer interactions.
Another software you can decide to adopt is xTuple. This is free software that offers an open-source ERP which is integrated with the CRM system.
However, this tool is only suitable for product-producing companies rather than service-providing companies.
Inventory Management Tools
Inventory management tools help you track your products’ acquisition, storage, and selling. Adopting inventory management helps in developing accurate inventory forecasting. It also helps in supply chain improvement and cost reduction.
Today, iOS inventory management software helps you keep track of your inventory from the comfort of your phone. So, if you are tired of running out of stuck unaware, it’s time you adopt inventory management tools.
Task Management Business Tools
As your team gets bigger, keeping track of tasks assigned to every member becomes challenging.
Luckily with task management, you can easily keep track of the progress of the assigned task. You can determine the tasks running behind schedule and those that need special attention.
You can also assess the performance of the team based on task accomplishment. Invest in task management tools if you have been having challenges tracking the tasks assigned to contractors, employees, and teams.
Must-Have Small Business Tools and Software
The success of a business relies on proper business management practices. Adopting small business tools helps you save money and time while ensuring the success of your enterprise.
From collaboration to communication, running a small business needs a variety of tools to function properly. And as the business grows, the number and complexity of these tools also increase.
Did you find this article informative? For more informative content, ensure to go through our other blogs.