When it comes to business, no matter what your industry, “using the right tool for the right job” is important. As a startup, the same holds true. Whether it’s customer acquisition, team collaboration, or managing your finances; using the right program can make all the difference.
You already know that your early goals are centred around growth and revenue. When you have the right tools in place, these two targets become easier. To that end, here are three tools that you can implement right now.
Buffer For Social Media Control and Customer Acquisition
Buffer is a social media management tool that allows you to create, edit, and automate your social media activity. What’s more, you can connect up to 10 different social media accounts and automate all of them.
According to research, up to 75% of consumers say they research a product, service, or company on social media before making a purchasing decision. This leads to an increased pressure to maintain an active social media presence, sometimes across multiple platforms.
Slack Improves Team Collaboration
As a startup, there are many tasks you and your team will juggle, and keeping everything organised can be a trying endeavour. To make matters worse, there are literally hundreds of available programs available that promise to make your life easier. If you aren’t careful you may wind up using five or six of them, and your day will be anything but easy.
Using one program each for team messaging, document and file sharing, or conferencing can get expensive as well as confusing. Thankfully, Slack brings all of those services and more under one platform.
Startups thrive on having efficient processes in place, and Slack is definitely an efficient program to have at your disposal.
Xero Makes Accounting Easy
Whether you’re a well-financed startup with VC funding burning a hole in your pocket, or a lean startup bootstrapping your way to success, startups need money. How you obtain that money is important, and it is a subject we’ve covered in previous articles. How you manage your money is equally important.
Hiring a fulltime accountant or CFO may not be in the budget for your early stage startup. At the same time, managing finances might not be your strong suit either. In a world full of accounting software options, Xero stands out as an easy to use system for managing your startup financials.
Some of the features include creating and managing invoices, tracking expenses, time tracking, and the ability to accept and process payments as well. The invoicing features alone make Xero worth the investment.
Last year, unpaid invoices accounted for $825 billion dollars in losses for small businesses. While that amount is shocking on its own, what may be more unbelievable is the fact that most small and medium-sized businesses do not have an established policy for collecting on unpaid invoices.
As a startup, letting a single invoice slip through your fingers should be unfathomable. It’s certainly no way to run a business, and it isn’t a habit you want to form either. Xero helps to streamline these processes and make tracking your invoices, payments, and expenses more efficient overall.
Explore Your Options
There are several different apps and cloud-based products available, each with their pros and cons. As a young startup, you should explore your options and see what programs are out there, and which might suit your needs best. These three are just a sample of some of the top performing systems out there. And each one of them was once an early stage startup just like you.