5 Affordable Tools to Help Lean Startups Succeed

Published on September 11, 2021

What do startups need to succeed? According to entrepreneurs who’ve formed their businesses through Incfile – a lot! Having a great idea for a new business can be exciting, but figuring out where to go from there can be daunting. Most startups still need to build a client base and create revenue before worrying about hiring staff to handle their marketing, customer service, and more. It is unlikely, however, that a sole founder will have the time or understanding to handle all these aspects of onboarding a business. What’s the best thing you can do to attend to these vital aspects of business? Find and utilize accessible software to streamline these responsibilities. What are some of these ready-to-use software products? Keep reading to find out.

Keep Marketing, Sales, Customer Service, and More in One Place

A new business is nothing without a customer base, but how does it develop one? Through intelligent marketing, frictionless product sales, and accessible customer service. All three of these services are available from Hubspot. The platform offers free and premium customer relationship management (CRM) options in marketing, sales, customer service, and more. These are vital ingredients startups need to succeed. Here is a little insight as to what each service can provide:

  • Marketing Hub: helps grow traffic, converts more visitors, provides analytics, and runs complete inbound marketing campaigns.
  • Sales Hub: gives deeper insight into prospects; automates scheduling, quotes, and other mundane tasks; and closes deals quickly.
  • Service Hub: connects companies to customers, providing an excellent experience that turns them into fans and promoters of the business.

By taking advantage of Hubspot’s package offerings, newbie solopreneurs can alleviate the stress of handling everything on their own.

Social Media in Just a Few Clicks

Launching a successful business without a social media presence is almost impossible these days. Indeed, it is practically imperative for an active and cohesive social existence across multiple social channels. It can help change the dynamic of how you interact with your consumers, brand your products, and create first impressions.

Social media management platform Hootsuite is perfect for businesses looking to quickly make a name for themselves online. Through one platform, users can perform all sorts of simple tasks – from curating cool content and scheduling posts to managing team members and measuring return on investment (ROI).

It creates an ideal solution for reducing the time it takes to make individual posts while tracking each one. Moreover, it incorporates analytics, allowing companies to measure how each post’s performance in drawing new customers.

Make Making Money Easy 

What makes a new business grow, prosper, and succeed? Sales. But how does a budding startup without a point of sale (POS) system actually collect on that sale? The answer is that It needs a simple, handy, organized, and tech-based system to handle its transactions.

One of the best solutions out there shaping how small businesses interact with customers through transactions is Wix. It has a deep bench of fully customizable and professionally designed templates to easily create eye-catching electronic storefronts from scratch. Plans begin at $23 a month. They are free of transaction fees and include a host of built-in marketing, SEO, and social tools to get products before wider audiences. Not only that, but Wix integrates nicely with Amazon, eBay, Facebook, and Instagram, and its Wix Owner app can be managed on the go.

Another quality commerce solution is Square. Through the power of mobile technology, it allows entrepreneurs of all kinds to accept card payments using a smartphone, tablet, or any other portable device. The e-commerce platform handles services like banking, POS, and payroll for several industries. This makes it another excellent choice for new businesses looking to track and expand their finances.

Handle Business Finances like a Boss

Once that all-important Employer ID Number (EIN) is secured, the next important step should be to the local bank to open a dedicated business account.

As the saying goes – never mix business with pleasure. The same applies to business and personal finances. The reasons speak for themselves – having separate accounts protects personal assets from business-related liabilities, helps you stay legally compliant, and adds a professional patina to your establishment.

Above all, it prepares you to pay Uncle Sam precisely what he is owed come tax season. Considering that the consequences of filing returns incorrectly or late can include costly penalties up to 25 percent of unpaid taxes and property seizure, setting up a clean account solely for business purposes will alleviate headaches for the CPA – and potentially deliver a nice refund for the company.

In addition to basic checking and savings, many institutions also offer a host of free software amenities. All of Bank of America’s Business Advantage accounts, for example, come with Cash Flow Monitor to help customers analyze transactions, track daily balances, and predict future available funds. They also connect with online business tools like ADP Payroll and Google Workspace and Analytics.

By taking advantage of tools already packaged into their banking accounts, small business owners can realize additional cost savings and spy investment opportunities to help their startups succeed.

Access Files Quick and Easy

Many small businesses are at-home ventures that lack the generous space – and expensive overhead – needed for ample filing cabinets and data storage rooms to house important documents, assets, files, invoices, and more. This can easily be remedied by using cloud-based storage solutions like Google Drive, which provides 15 GB of free storage space.

The beauty of this option is that employees worldwide can collaborate simultaneously on projects and documents while keeping critical files secured. Gone are the days of coworkers working on wrong versions of the same document. What’s more, going to the cloud absolves nascent entities of costly repairs and upgrades required of depreciating equipment.

Starting a new business can be daunting when one person has to handle the many job functions that entire departments at large companies often handle. By taking advantage of some – or all – of the low-cost prescriptions to help their startups succeed, entrepreneurs can lighten their load. They can then focus on the product or service itself.

Chloé Dutschke is a contributor to Grit Daily and Head of Brand at Incfile. She works with brands to ensure their story cuts through the noise of hypercompetitive markets and specializes in marrying brand values and business objectives to customer motivation for commercial success. Chloé has worked in tech and startups in both the US and Australia. She previously worked in radio and food editorial.

Read more

More GD News