Software now
dominates many discussions of how best to run a business. You constantly see
articles on the next big thing in business software, like AI
as business intelligence’s future.
While some
of this falls into the category of speculation, no entrepreneur can overlook
the benefits of the right software. Keep reading and we’ll cover five kinds of
software you need for any entrepreneurial endeavor.
1- Accounting Software
Too many entrepreneurs don’t keep close enough track of the money. They spend so much time on customer and order acquisition that they don’t follow up on accounts receivables and end up with a cash shortage.
It’s more
common than you think, since running out of money is the number two reason startups fail.
Any decent
piece of accounting software will help you keep track of where your money and
how much people owe you. Some software packages can even automate payment
reminders.
2- File/Document Sharing and Backup
If you use
remote employees as more and more businesses do, you need a method for sharing
and backing up files.
Say that you
use a graphic artist based out of Paris. That artist will probably never keep
the same hours as you. That means collaboration will happen asynchronously
through comments on documents and new versions of files appearing.
You also
don’t want all of your files housed only on a local server. If the server ever
fails, you lose it all. A cloud-based file sharing and backup system protects
you and facilitates remote work.
3- Payroll Stub Maker
In an age of
electronic deposits, payroll stubs seem almost quaint. As long as your
employees get a W2 everything will work out fine, right? Sadly, that isn’t the
case.
Many
apartments and home rental companies still require people to provide recent
payroll stubs as proof of income. Fortunately, you can simply use a paystub maker to create digital versions and
email them out to employees.
4- Email Marketing Software
If your business depends on the internet to make sales or find leads, you will swiftly accumulate a lot of email addresses, which is very useful for effective email marketing.
But you cannot have much success with email marketing without a robust, secure and efficient email marketing software. A good email marketing software helps you segregate the emails into specific lists, such as warm leads, newsletter subscribers, and active customers. This keeps you email interactions razor-focused, which typically improves open and click-through rates.
5- CRM
You might
not need it right out of the gate, but you’ll want customer relationship
management software if you plan on having more than a few dozen customers.
CRM software
consolidates customer information, such as contact with the company and
purchase history. This lets you provide superior customer service and
recommendations.
6- Content Calendar Software
You need to get your thoughts out there as an entrepreneur. Not only does this help build up your brand and bring leads through the door, it also establishes you as an expert in your field. Even if you’re only publishing once a month on your own website, you want some way to keep this organized.
You need to be able to see everything in one place ad get ahold of the big picture instantly. An Excel spreadsheet may work for a little while, but it is not scaleable. Finding a long term partner early on for your content strategy and organizational needs is in your best interest. For this you will need some kind of content calendar software.
Parting Thoughts on Business Software Entrepreneurs
Need
Business
software doesn’t replace the human element in business. It amplifies it by
allowing people to focus on the tasks that people do best. It also streamlines
tasks that often get overlooked.
