You need more than just a dream and some cash to launch a successful business. You also need the right tools to turn a profit as quickly as possible. However, it can be daunting to determine which tech is going to give your startup the fuel it needs to soar.
What makes it difficult to know which tools will give your company an immediate lift? The sheer number of innovations on the market. Tech solutions come onto the scene regularly, and — as in the case of generative AI — can seem to change the way the world works overnight.
Yet like all inventions, some new tools are worth investing in, and some aren’t. Your job as an entrepreneur and founder is to decide which ones fall into the former category. Hardly a simple task.
Never fear. You can streamline the process by focusing your attention first bringing four core types of tools into your workflows. Together, they’ll serve as a solid and dependable tech foundation for your business. Additionally, they’ll help you become competitive, even though just entering your industry.
1. Small business software
If you could only afford one piece of software for your company, you’d want one designed to help your team in as many areas as possible. In other words, you’d want a small business software solution.
What’s the benefit of leaning on do-it-all small business software? According to Thryv, a leader in the small business software sector, you’ll be more able to attract leads, make sales, and retain customers. That’s huge, particularly when you’re in hyper-growth mode. For example, Thryv’s data reveals that clients who use its all-in-one software see a 25% boost in their buyer base. They also shave about 20 hours of manual work off their weeks, allowing them to focus their attention on high-level tasks.
To ensure that you identify the perfect small business software for your needs, carefully explore each tech option available. If you can test drive a product for free, even better. Remember that this will be your main software, so give the decision the thought and energy it deserves.
2. Payroll processing software
Unless you’re running a one-person show, you’re going to have employees. And with employees come plenty of critical responsibilities, including making sure they get paid accurately and regularly. Though you might be tempted to do payroll with homemade spreadsheets, beware. Juggling your employees’ payroll without support could lead to costly and embarrassing errors.
To avoid payroll snags, choose a payroll solution meant for a small business or startup. You’ll get your people paid on time, as well as save yourself some serious time. How much time? Gusto, a highly-rated payroll software provider, touts itself as being able to shave off 13 minutes from each payroll run. Perhaps it doesn’t sound like much at first, but 13 minutes every week or two adds up. As an added advantage, Gusto has the capabilities to assist you as your benefits package evolves.
You want your people to get compensated reliably or correctly. An automatic payroll system will give you (and your team) peace of mind so you never worry about payroll again.
3. Project management software
Every day, you and your employees complete assignments that help move projects along. As each assignment is finished, the project inches toward completion. Sounds simple, but it’s not. With so many moving parts happening at once across all your departments and verticals, it can be hard for everyone to stay on the same page.
This is why project management software is necessary. A solid project management tool enables everyone to keep track of projects in all your pipelines. To be sure, every project management ecosystem has a different interface. Therefore, look for free project management choices so you can compare a few. Case in point: A platform like Zoho Projects may not be heavy on bells and whistles, but it contains the essentials. This makes it a nice — and affordable — way to step into the project management waters.
Not convinced project management software is necessary? Give it a shot. It’s particularly valuable if your team works remotely some or all the time. Projects can rapidly break down when they’re shared among distributed work teams. Project management software keeps everyone in the know as they complete tasks asynchronously.
4. Cybersecurity software
A business is never too small to become a hacker’s target. According to research by CrowdStrike, an award-winning cybersecurity protection tool, 60% of small businesses have been the victims of cyber attacks. That’s not a position you want to be in.
Here’s the good news: There are plenty of cybersecurity software packages and programs to keep your business out of harm. To determine the best for you, look for one that’s been tested and has the robust features you need. Obviously, you’ll want all your systems to be protected from viruses, malware, and other common cyber threats. However, you may want a tool that has the bandwidth to grow as your business expands, too.
Regardless of which cybersecurity tool you choose, put one to work soon. Just one data breach can shed a negative light on your brand. Customers (and employees) don’t want to work with companies that aren’t stewarding their private information.
With these four types of tech tools, you’ll have a supportive runway to launch your startup. And once you’re flying high, you can start adding others to complement your carefully curated high-tech toolkit.
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