Start-ups may have limited resources and funding for their daily operations. But, it likely relies on technology to increase efficiency while minimizing the costs of doing business. There is a great number of technological innovations that small companies can maximize to get the job done productively and with the least number of expenses.
Different applications of technology have greatly shaped companies and consumers. Products have been developed at the highest standards, least damage to the environment and most competitive pricing. Employees are relieved of some of manual work that usually eats up heaps of productive time. Consumers get to shop 24/7 in the comfort of their homes. With these outstanding benefits, you can say that technology is a constant helpmate in a successful entrepreneurship.
With a start-up, it is not easy to run a business with resources that are not even enough to keep your business afloat. At times, you barely reach your maximum potential and may lose several business opportunities that come along. But, it should not always be the case. Today, you’ve got the technology to make things work faster and integrate processes for maximum efficiency. If you’re not using any of these, then you’re missing out in terms of cost savings and employee efficiency.
Here is a list of useful applications to get you started.
Several of the best free tools you can get are smartphone or desktop apps. These productivity hacks can help you with many things. For one, you can get a project management tool like Slack or Trello to keep your teams in one place where they can interact, manage their daily time records, exchange files, perform video and audio conferences, track the progress of projects and organize to-do lists.
Other apps like Zapier help you integrate your apps and other accounts to automate processes so you can focus more on your work. That means what you get in an email will automatically create a reminder, save attachments to cloud storage, alert you to pending tasks and communicate to your team with just a single swipe of your finger. Also, some apps can collate your web research into one platform so you can get back to it later. Some even let you create a digital signature so you won’t have to print and manually sign important documents.
Finance may not be your thing, but you still need to do it. It gives you a better sense of where the money is coming from and going to. This vital information has to be summarized into financial reports so you can make informed decisions such as cost savings, profitability and cash flow analysis.
Converting raw data into accurate, relevant financial statements requires the right tool where you can check your bank balances and follow up on outstanding receivables, shows sales figures, reminds you of your obligations to suppliers and updates your income statements anytime you need. You need a system where internal controls are already existing, routine procedures are automatically recorded and can be integrated with other platforms that you use.
Cloud accounting can fill this important role. Accounting systems on the cloud are easily accessible whenever and wherever there is an Internet connection, and most even have an app so you can check your company’s figures with your smartphone. Also, online platforms have dashboards that present the information that matter to you most. Cloud accounting works whether you have an in-house staff handling your books or you outsource with a professional.
Free marketing tools
The best things in life (and business) are free. For your marketing efforts, get a hand with several free tools you can optimize to advertise your products, connect with sales leads and close business sales. Social media may be the best there is but there’s more the online world has to offer on a silver platter than likes, tweets and views.
Google tools are at the top of the list with a roster of freebies that include keyword search (Adwords and Keyword Planner), website analysis (Analytics) and SEO optimization (My Business, Search Console and Trends). To boost your social networks and digital marketing strategies, there is Hootsuite or Buffer for scheduling, Canva for design templates, Grammarly for your ‘how to take care of your lawn’ articles, Pexels for free images and BuzzSumo for knowing your target market better.
Doing business at a start-up phase may not be a walk in the park but the right technology can help you do more efficiently and effectively. Check out what your business requires and optimize the existing tools that can make a great impact to your young business.