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So you’ve just started your first business and are still trying to wrap your head around all the moving parts you now need to consider. First of all, congratulations! Starting a new business during such an innovative and energized time in the world of technology is an exciting venture that could catapult you into success.
In these early days, you’re probably asking yourself where you need to invest your money and where you can try to cut back on your expenditures. You’re also probably trying to figure out what type of support requires human hands and what can be automated.
Try not to get overwhelmed. It can seem like a lot of decisions to make, but it’s never been easier to find the support, innovation and technology you need to succeed, no matter what industry you’re in.
If you’re still in the early days of figuring out which technologies are the best investment for your business, this article will be helpful for you. Here are a few of the most important tools that are worth your money.
1. A solid project management platform
No matter what the day-to-day of your business looks like, there’s a good chance you’ll benefit greatly from an organized, easy-to-use project management platform. These are simply websites where you can keep track of everything that needs to get done on a high-level and low-level, from team meetings to tasks to client outreach and much, much more.
“The vast majority of businesses today should not even try to operate without a strong project management platform,” says Matt Masiello, Chief Marketing Officer of BabyBuddha. “It immediately helps teams create streamlined operations and timelines in an organized manner. That’s absolutely invaluable, especially when times get extra hectic or wires threaten to get crossed.”
Organization is essential to smooth business operations — that’s a no-brainer. And ensuring you have the right organizational systems in place from the get-go will save you a tremendous number of headaches and money down the line.
2. An easy-to-use CRM platform
A Customer Relationship Platform is a central location where you can store all the information you need about your interactions with customers. From email campaigns to website visits to social media analytics and much more, a CRM platform is a critical foundation for developing strategies and cultivating positive relationships with clients.
“A CRM platform helps teams understand exactly what’s working and what could be improved about existing campaigns and strategies,” says Dan Potter, Head of Digital at CRAFTD. “By helping companies understand what their audience is responding to, they can better understand the core of who they are, which can completely revolutionize outdated campaign and messaging strategies.”
The better your relationship with your clients, the more likely they are to be repeat customers, as well as recommend your products and services to others. This means better sales and business for you!
3. A simple email marketing platform
Email marketing can be a tricky thing to navigate — after all, how many times have you found yourself in the consumer’s shoes, immediately deleting any sort of marketing email that pops into your inbox?
“The truth is, it can be difficult for brands to get a person to open their emails, especially if they’re in certain industries that are notorious for spamming audiences,” says Soji James, Lead Expert Certified personal trainer at 1AND1. “That’s why having a unique, engaging email strategy is essential — but a strategy means nothing without a great email marketing platform that makes design, development, copywriting, analytics and automation simple.”
Even better: many email marketing platforms allow you to automatically generate regular newsletters out to your social networks, making the process one step easier.
4. High-quality accounting software
No matter what type of business you’re running, hiring a certified accountant and financial advisor is a fantastic idea. However, even if you do work with one or both of those, investing in a good accounting software will still be extremely beneficial for you.
“Having all financial information for a company in one centralized place is a must,” says Michael Baghoomian, CEO of Muscle MX. “Income, expenses, taxes, invoices … it can all pile up quickly, and while having an in-person advisor is amazing as well, it’s good for companies to know where they can access all that information for themselves.”
Plus, the less time you spend on accounting, the more time you can spend on the fun stuff, like engaging your audience and thinking up fun ideas.
5. An understanding of artificial intelligence
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The reality of running any type of business today is that artificial intelligence is here to stay, and it’s best to take advantage of it early on. Though a lot of people are having a hard time adapting to and accepting such a mind-blowing type of technology, the support it provides can be invaluable, especially for companies that need to save as much time and conserve as many resources as possible.
“By automating manual tasks, AI is enabling companies to save so much time — time that can now be allocated to innovation and offering more personalized experiences to users and customers,” says Gina Iovenitti, Growth Operations at Carda Health. “Some people are afraid AI will take their jobs, but in most instances, it’s quite the opposite — AI has the power to take away the heavy lifting of boring manual tasks so employees are free to focus on large-scale, productive aspects of their jobs.”
From UX innovation to chatbots to CRM systems and much, much more, AI is a powerful tool that will shape the future of all industries — that’s why it’s important to get on board with it now. If you’re still on the fence, start by experimenting with it in small areas of your business first.
6. Strong cybersecurity systems
Whether you run an e-commerce store, a physical storefront or a fully online business, cybersecurity should be top of mind from the very beginning. Protecting your assets, employees, information and accounts from hackers is absolutely invaluable, and it’s essential to invest in it before you actually need it.
“Too many small businesses fall into the trap of thinking that just because they’re a small business, they’re at a lower risk of being hacked or targeted in a cyberattack,” says Ubaldo Perez, CEO of Hush Anesthetic. “This couldn’t be less true. Small businesses are actually more likely to be attacked than large-scale enterprise companies, making the importance of a strong cybersecurity system that much more necessary.”
Hackers are only getting smarter. Outsmart them by being prepared to defend yourself against them from the get-go.
7. A beautiful website
Building a strong website is one of the most affordable tech investments you can make for your business. Whether you’re selling physical products, online services or anything in-between, your website is a home base for anyone who is familiarizing themselves with your offerings and making a decision — a bad website can turn someone away immediately, even if your product is amazing.
“The concept of “not judging a book by its cover” is unfortunately not true when it comes to running a small business,” says Den Montero, Marketing Director of Moeflavor. “The reality is, people don’t always have time to weigh their options, so they’re likely to choose a company that has a strong online presence, and that means a beautiful, easy-to-navigate website where they can quickly find exactly what they need.”
8. Team collaboration tools
No matter how big or small your team is, you need to ensure you have the tools in place to facilitate smooth communications — especially if people are working remotely or in different locations.
“A well-run business is like a healthy relationship — each moving part needs clear communication in order to function,” says Marcus Hutsen, Business Development Manager at Patriot Coolers. “That’s what good collaboration software provides. By designating one spot for people to easily schedule and communicate with each other, you’re creating smooth channels of collaboration that are essential to a great business.”
Just make sure everyone is on board with the software you choose!
9. Contract and HR management tools
This is another one of those tools that you need to invest in early on before things get super busy. The faster you grow, the more essential a strong set of HR management tools will be — especially if you don’t yet have a designated HR department.
“Streamlining the hiring process early on saves companies so much time down the line,” says Christy Pyrz, Chief Marketing Officer of Paradigm Peptides. “All small businesses should make sure they have these tools in place before they even begin hiring.”
Think about it this way: you wouldn’t invite someone to move into a house that wasn’t fully built yet. Create a solid foundation so the hiring and team management process can be smooth and strong, and the right people will come.
Major tools for a small business
At the end of the day, your small business needs just as much care, thought and intentional investment as a large corporation. Setting yourself up for success by investing in the proper tools early on in your journey will allow you to grow well and grow quickly.
“A small business is certainly not an easy lift,” says Anthony Siskos, COO of 10PM Curfew. “But there’s never been a better time to take the leap of faith into starting one. There are so many tools available to make the process easier, faster and full of success.”
As you embark on your own business journey, consider investing in some of the essential technological tools described above to help you succeed!
