Must have tools for Small and Medium Enterprise and Entrepreneurs

Entrepreneurship is a spirit, which needs to be present in every aspiring or present entrepreneur. It comes with sheer determination, passion and hard work. You need to be focused on what you love to do and do it in the best manner you can.

For every entrepreneur, you need to have some set of tools, or some medium through which you can play around, work with and help you start-up grow in a fruitful manner.

Various tools can be divided in the type of usage of the respective tools, some of them can be listed as follows: (Note: These are some of the basic tools, which are must have for any entrepreneur)

Various tools can be divided in the type of usage of the respective tools, some of them can be listed as follows: (Note: These are some of the basic tools, which are must have for any entrepreneur).

Business Tools
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    1. For the purpose of accounting and legal some online tools are listed below:
      1. YNAB: It’s a personal finance software to take total control of your money. YNAB stands for You Need a Budget. YNAB is a personal budget and finance software for individuals and organizations which are typically used by small and medium enterprises. You can track your income, expenses, debts and more in an attractive and graphical manner with an amazing user interface. The fee for the software is nominal to use it commercially. Following are the features of YNAB:
        1. Bank Syncing
        2. On the Go (Mobile support)
        3. Debt Paydown
        4. Goal Tracking
        5. Reporting tools and analysis
        6. Personal Support
      2. Xero: Xero is an online accounting software for small business. Similar to Tally, but with more additional functionalities and works as a perfect reporting tools, which maximum businesses are in need of when it comes to money and accounting. The popular features of Xero are as listed below:
        1. Invoicing: Online invoicing, will help your cash flow to track much faster.
        2. Inventory: Track inventory, control stock and update details as required.
        3. Dashboard: See how businesses is improving with charts and visuals used.
        4. Bank Reconciliation: Connect and Sync your bank account.
        5. Mobile Application (On the Go): Work while you are travelling.
        6. Expenses Claim: Recording expenses and receipts becomes much easier online.
        7. And many more…
      3. Clio: It’s a law practice management software which runs online. To need any assistance with any company law issues or legal compliances, one of the best tool to take a look on. The features are:
        1. Advanced Document Management
        2. Quick and Easy Legal Billing
        3. Integration with the most used and frequent application
        4. Time Tracking
        5. Xero Integration
        6. Campaign Tracker




    1. For the purpose of online meetings, video conferencing, tool such as:
      1. Skype: Allows you to have free voice and video calls. The best in VoIP calling. It’s a tool which can be used in order to communicate with team members and contractors.
      2. Google Hangouts: It’s a communication platform developed by Google. Includes instant messaging, video chat, SMS and VoIP features. Used for fast and quick communication among employees and the team.
      3. Online Office Suite and SaaS Applications for Businesses: This is offered by a number of websites online, which provide Software as a Service (SaaS) for the businesses and individuals. Some of the online office suite provider include: Microsoft Office Suite, Google GSuite (Smart and Artificial Intelligence Based), Zoho (Cloud Based) and many more.
      4. Facebook: We all are aware of how Facebook works and also know the fact that almost every person is online now and then.
    2. For the purpose of Ecommerce and Payments:
      1. Shopify Ecommerce Software: Shopify is an online Ecommerce Software, which helps you make an ecommerce store develop in a day with tons of features like unlimited product listing, payment gateway integration, 24X7 support and many other.
      2. WordPress: WordPress is a Content Management System (CMS) which helps you develop and host a website within hours, without the need of having any prior knowledge of coding or technical skills. Such CMS systems help small business initially to setup their presence online and thereafter they can hire professional developers (if required).
      3. WooCommerce: It is similar to Shopify. It’s a customizable ecommerce platform which can be integrated with WordPress and you can start selling your products within no time, and that too without any technical skills.
    3. For the purpose of managing documents and records:
      1. Office suite: As seen in point number 2.c, about Online Office Suite and Saas, exactly similar. Used for multiple purposes. For sharing documents in an online meeting, for managing and tracking information about the organization, work flow and many other things. Same examples can be considered here as well. GSuite is the recently and the most advanced version of all Office Suite products. Has features like predictive analysis and the system learns from the user’s behaviour in order to create and manage documents (Completely Artificial Intelligence based).
      2. Google Drive: Google Drive is a file storage and synchronization service operated by Google (once again we have Google). It allows user to store files on the cloud, synchronize between devices and share files among peers. Also consists of collaborative editing of documents and managing them. 15 GB Storage is Free.
      3. Dropbox: Dropbox is a file hosting service. It creates a special folder on the user’s computer, the contents of which are then synchronized to the Dropbox’s server, and also to other desktop computers and devices where Dropbox has been installed. This keeps al the files up-to-date and synchronized.

  1. For marketing of your business and getting larger audience, you have social media networks such as:
    1. Google Plus: Google plus, provided by Google is a good platform to promote and brand your product or service. Ignored by many people, as they are unaware of the true potential of Google Plus. You can also register your businesses onto Google My Business, which helps improve your rank amongst others, who are not registered.
    2. Facebook: Facebook pages, communities, and groups are some of the features which you can make use of, and start promoting your business through Facebook. You also have various features like creating thought provoking campaigns, scheduling the posts, selecting the target audience and many other. One of the most used social platform, in order to spread a word about your business.
    3. LinkedIn: Majorly used by professional to hire and recruit workforce in their respective organizations. Also to showcase your brand to the professionals who are on LinkedIn? As used maximum by professionals and to hire talent, this medium of promoting your business, helps you reach a good number of audience.
    4. Twitter: The best way to spread a news is on Twitter. There are different ways to tweet, like mentioning your product, asking question relevant to your product, recommending stuff relevant to your product and other strategies in order to tweet (Different twitter strategies will also be discussed later on this blog, stay updated).
  2. To gain access about the behaviour of the user and traffic, various analytical tools can be made to use, such as:
    1. Google Analytics: Google Analytics is the best analytical tool, which is used by maximum businesses in order to track how their website or application is performing. It tracks the number of visits, clicks, time spend by the user on a website, bounce rate (the rate at which user leaves or exits your website), demographics about the user and many other stuff. These help the business in order to showcase only those products which the user is genuinely interested in and also to market them at specific locations, based on the demographics that are obtained from Google Analytics. A must have tool and strongly recommended tool for businesses.
    2. Google Webmaster Tools: Google webmaster tools are used in order to improve your organic SEO (Search Engine Optimization). SEO is how search engine ranks your website or a particular webpage and based on that, a user can see your result on the search engine. Good SEO, improves your presence and thus might generate more leads and business for you. Requires some technical knowledge, but again highly recommended, as it helps to improve the page rang of the website.

Using these tools and online medium initially will help your business flourish and help you get more experience in working with online tools.

The above tools are mentioned, based on their market and usage by maximum users. There are other tools too, which will help you manage your business. Some of the other tools which you can take a look at are:

  1. Slack: Offers team communication
  2. GoCo: Online HR workflow management
  3. GoodHire: Used to hire and recruit staff
  4. UpWork: Used for hiring freelancers for a specific job (Can also use Freelancer).
  5. Quora: One of the largest Q&A (Question and Answer) Forum Portal. A good source.
  6. Intercom: Offers functionality like, live chat, education for web customers and users.
  7. SalesLoft: Used to find more customers and generate your sales.

 

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Use the tools, improve your experience as well as customers experience and generate more leads, earn great profits and help your business grow.

Do like, share and comment your views about the same.

Enjoy Reading!


Article written and submitted by: Akshay Rakesh Toshniwal

17 thoughts on “Must have tools for Small and Medium Enterprise and Entrepreneurs

  • February 28, 2017 at 9:01 am
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    Nice Article and will certainly help SME’s who want to digitized their business (which cannot be ignored in present scenario) . Keep sharing these informative articles . Good luck ☺

    Reply
    • February 28, 2017 at 12:31 pm
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      Yes, you are right. Transforming ones business digitally is a must today. Thank you for the feedback on the article 🙂
      Happy Reading!!

      Reply
    • February 28, 2017 at 12:34 pm
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    • March 5, 2017 at 10:59 am
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