It’s cutthroat out there in today’s business world. With many old businesses folding up and new ones not getting the chance to break even, it’s almost a turn-off for those willing to enter the market. Still, that doesn’t mean you can’t survive.
The lack of proper planning is one of the reasons why many fail. What’s more, not adopting the right tools for effective business management can also be a recipe for disaster. That said, if you’re a startup looking to grow your business, stay afloat and, of course, make some profits, here are five tools every busy startup needs.
1. Design Tool
Many startups know that going under may be inevitable unless a business can clinch and maintain enough market share to keep it afloat. So, they search for marketing strategies that will give them the edge they need in a competitive environment. However, what many don’t take proper advantage of is having a solid visual content reach.
Once you know and understand your target audience, you need to adopt tools, like Lucidpress, Adobe InDesign, Photoshop, etc., that’ll help make eye-catchy, quality graphic ads. It’s the perfect tool for content creation for brand management campaigns. At the end of the day, the profitability of your business depends greatly on the number of customers you can reach and convert to successful patronage.
2. Equipment Tracking Tool
If you’re running a busy business that involves using many tools, you would want your team to spend more time working and relatively less time looking for tools. While battery-powered mini-sized trackers can do the job for some work tools, asset tags will do a better job to track equipment around work environments and more.
You can create durable custom asset tags (like RFID tags) and barcodes with your company name clearly printed on them. You can then attach such tags to physical assets like scanners, printers, laptops, appliances, etc.
3. Protect Management Tool
Thanks and no thanks to the coronavirus pandemic, many companies are now adopting remote work mode. If you’ve never done this one before, things could get messy without the right tools to manage people and projects remotely. Therefore, as a startup, you need software tools that’ll help organize and manage projects. With effective project management software, you’ll assign jobs easily, attach turn-in dates/times, keep track of progress, and share files easily with your team.
4. Social Media Management Tool
As a startup, you probably have a presence on the major social media platforms so that you can create a massive awareness of your brand, product, or service. Trust us; multiple social media accounts can be crazy to manage without the right software package. You need a platform that’ll integrate all your social media business accounts, giving you easy access and control from a single dashboard.
5. Accounting Tool
For startups, every dollar counts. So, trust us when we say you want to keep tabs on how the cash flows in your organization. Knowing your financial position is crucial, from the outgoing cost, like rent, salaries, insurance, and bills to incoming revenue. It helps business managers make decisions driven by the company’s real-time condition instead of human impulse.
Yes, you can hire an accountant to do the job. However, aside from incurring the ongoing cost of the accountant’s salary, committing errors is an almost inevitable human flaw. What’s more, you probably need an automated billing and invoicing system to serve your customers and maintain the perfect record. An effective accounting tool will also help you handle all these, including receiving payment from platforms like PayPal.
Even more, accounting software will help calculate your taxes, so you don’t have to forget when the time comes. This way, you can focus on more important goals of the business. Another advantage of accounting software solutions is that there are cloud-based options, so you don’t have to worry about the space on your computer. This way, you can even access your records from any location.