Startups are totally trending these days but every small business is not a successful one. Did you know that the success rate of startups is just 5%? Well what is it that this 5% of businesses is doing right and the rest aren't? Let us take a look at how technology, without much expenditure, can lead to a good start for entrepreneurs.
1. Time tracking tools must be put to good use to manage your time wisely and allocate appropriate amount of time to tasks with varying priorities. 1Time and Chrometa are a couple of good tools available in the market.
2. Use an efficient project management tool like Basecamp or Asana to maintain a record of all accounts that you are handling. It is ideal for a small team to communicate and share files and other related data.
3. Create a systematic email management system to not miss out on any important message and also to keep every single detail of your team documented in one place. You never know what will actually be of use to you at a later stage.
4. Use a methodical online invoicing system to bill your customers and avoid any kind of hassle with respect to funds. You could make use of Google Checkout or PayPal for this as they are authentic and very user-friendly.
5. Maintain your finances well with a productive online budget planner. You ought to plan your spends wisely when you are starting off with almost nothing or very little. Mint or GNUCash could assist you in this task.
6. Explore the possibility of creating an alternative source of income like selling your products online or getting associated with a complimentary product that would mutually benefit both the businesses.
7. Exploit social media sites like Facebook, Twitter, Instagram and others that are free and at the same time super effective to popularize your business and connect with your targeted audience.
8. Start writing a blog that you can use as a rich source of content marketing. Gather as many readers as you can in your domain and educate them about the need of your product and how they can benefit out of that.
9. Use video marketing to create short yet engaging videos about your product. You can introduce your business, talk about features of your products that stand out in the industry, and create various videos that are worthy of going viral in the digital space.
10. Last but definitely not the least is going mobile. Create an interactive and fully functional app that aligns with your website design and interface. We all know that the world is going mobile and if you are not, then you are losing a lot.
Hope this helps you in elevating your business further and scaling greater heights with simple and cost-effective ideas. In case you have a few more ideas in your kitty, share them with our readers in the comments below.
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