5 Ways to Use Tech to Set Your New Business Up for Success

Setting up a new business is exciting. You’re on your way to fulfilling your dreams and can’t wait for your venture to take off. Sometimes, new business owners make the mistake of rushing to start their business without laying a strong foundation. Planning is critical to your success. Depending on the nature of your company, you should have certain components in place before you launch.

First impressions can make or break your business. Carefully go through all the steps of your customer’s journey and proactively find solutions for any potential hurdles. Research the different tools available in the market and find the ones that suit your business best. Here are five ways to use technology to pave the way for your future success.

1. Synchronize Processes

Just like rowing teams pull together toward a goal, you’ll want to synchronize business operations so they are aligned. Select software compatible with other apps you use, so you don’t waste time transferring data repeatedly. For instance, integrating accounting software with credit card processing for your small business can mean automatic reconciliation.

Having all customer information in one place can make it easier to serve customers. Very few clients enjoy repeating their contact information each time they visit. So ensure your booking and customer relationship management system has all that intel beforehand. Record those in the system if a client has any special requests. Enter all the data in an easily retrievable manner for future reference, and ensure data safety by always having a backup.

2. Ensure Data Security

Gone are the days of faded logs, bulky files, and rusty cabinets. Paper documentation has become obsolete as communication with customers, vendors, and other stakeholders occurs online. Cloud computing solutions make data accessible from anywhere and — just as important — offer a safe way to store it. Despite perceptions to the contrary, security giant McAfee found that 52% of companies enjoy better security in the cloud than when they store their data on-site.

To ensure your business remains among this happy majority, select a cloud provider with a sterling reputation for security and reliability. Ask about their contingency plans in case of an outage or breach and implement further safeguards. For example, you might require two-factor identification to access company accounts, particularly those of a financial nature. You can also restrict access to certain data to only specific authorized users.

3. Keep Your Team Informed and Aligned

As a business owner, you’ll be delegating tasks to different team members, but don’t let them work in silos. You’re all striving toward the same end goal, so you must monitor each other’s progress. Project management tools offer intuitive interfaces for creating, assigning, and tracking tasks so your team can meet its deadlines and achieve its goals. Such tools create transparency, which encourages trust between team members.

Communication must also be clear and consistent. Tools that provide instant messaging, file sharing, and videoconferencing capabilities facilitate teamwork among employees irrespective of their location. Productivity tools enable you to analyze work performance and time management to optimize your team’s workflows. The quicker the back-end jobs are done, the more time can be allocated for customer-facing activities.

4. Prioritize Customers

Delivering exceptional customer service should be a priority. Reserve your trained staff to deal with complex problems and leave the frequently asked questions to chatbots. Not only do your clients get 24/7 support, but chatbots can provide multilingual support, a bonus for building customer relationships.

Make your customers’ lives easier by using one platform where customers can easily make payments, book appointments, and share files. Your vendors and other stakeholders will thank you if you handle agreements via electronic signature. It saves everyone’s time, and with customizable templates, you can design the perfect documents for operations, sales, or marketing.

5. Expand Your Customer Base

To expand your business, you need to grow your clientele. Since you are starting a new business, this is the best time to focus on marketing. Start with market research, leveraging an online survey tool to understand the needs of your target audience. Then, create a website that resonates with them. You won’t need to hire a coder or graphic designer if you use a platform that enables you to create and customize a website.

Establishing an online presence is vital in today’s digital age. Managing multiple social media profiles can be exhausting, so allow technology to help you out. Implement social media management software, which not only assists in scheduling posts but also analyzes engagement metrics. This will help you assess your business’s online strengths and weaknesses, offering direction for future strategies.

The Importance of Doing Your Homework

The number and capabilities of business-oriented software tools are growing by the day. Do your research and make sure you find the solutions that suit both your business and your budget. Know which operations are fundamental for your business and target them first. Don’t cut costs in the wrong places — think of your tech purchases as an investment in streamlining your processes for the future.

Being excited about your new venture is natural, but don’t make rushed decisions. Take your time and set realistic implementation goals for yourself and your team. Ensure your team is trained on the software before launching to take advantage of its features. The future belongs to technology, so make it your companion as you move toward growth and success in your entrepreneurial journey.