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.
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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 robust, secure, and efficient email marketing software. A good email marketing software helps you segregate emails into specific lists, such as warm leads, newsletter subscribers, and active customers. This keeps your email interactions razor-focused, which typically improves open and click-through rates.
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.