Starting a business isn’t easy. You have to do careful research to find products/services that are in demand that can be sold or offered at a profit. You’ll need to decide if your company will be an online-only business or have a physical location. You may need to hire employees for your new company, and you’ll need to find good advertising venues to promote your new business online and in your local community.
There are also financial concerns as you may need to take out a establish a business line of credit, keep track of expenses and income, etc. Thankfully, you don’t have to do everything on your own.
There are some great tools that can help you save time, avoid mistakes, and optimize your marketing efforts. Utilizing those tools in your business can make a whole lot of difference to your new business. Therefore, in this post, we will show you eight of the best tools you should consider when starting a new business. They will help ease stress and fast-track your journey to success.
8 Top Tools for Starting a New Business
#1: LivePlan
As the old saying goes, “failing to plan means planning to fail”. If drawing up short and long-term plans isn’t your forte, LivePlan may be just the tool you need. Its comprehensive planning platform makes it easy for you to write up detailed business goals, outline your core values, and even create a one-page pitch to enable you to explain your business clearly to potential investors.
The tool also comes with a comprehensive financial report feature, so you can keep track of income and expenses with ease.
Perhaps the only disadvantage of using this tool is that it’s not free. The basic plan costs $15 a month; the premium plan is $30 a month. The price can be steep for an entrepreneur with a tight budget, especially when one considers the fact that a new business owner who has the time and is willing to put forth the effort can create a winning pitch and comprehensive business plan for free.
What’s more, there are plenty of free business accounting software programs online for one to pick from. Even so, LivePlan offers great value for the money spent, is incredibly user-friendly, and can save you a lot of time and hassle.
#2: Tailor Brands
Business branding service Tailor Brands offers a handy LLC formation service that walks you through the entire process of creating an LLC (limited liability corporation), enabling you to complete the process faster and more easily than would have otherwise been possible. It also helps you catch mistakes and learn the ins and outs of maintaining an LLC. The company is a trustworthy partner, having empowered the launch of over half a million new businesses around the world.
There are many good reasons why you should seriously consider an LLC business structure. Such a structure protects your personal assets in the event of legal action against your firm. It offers tax flexibility, is simple to maintain, and builds trust in your new company. Not surprisingly, it’s one of the most popular business structure options for small business owners.
Even so, it’s not the best for everyone. While Tailor Brands offers a top-tier LLC formation service at a reasonable cost, a business owner would do well to consider other business structure options in order to pick the best one. It’s also wise to bear in mind that the cost of creating an LLC varies depending on where one lives, and can run as high as $500 in some cases.
#3: Freshbooks
Freshbooks is a highly-rated accounting app with some great features and amenities. The program tracks payments, invoices, reports, expenses, and more. It is fully automated to provide free reminders about important deadlines, enabling you to focus on growing your business rather than dealing with accounting issues. The program also ensures you are complying with financial regulations in your state.
Users give Freshbooks high marks for its easy-to-use reports. What’s more, it’s a cloud-based program, which means you can access it with ease as long as you have an internet connection. It’s free if you pick a plan with limited features; however, a premium plan comes to $20 a month. You may want to consider other options if you have a limited budget; otherwise, it’s a great option to save you time and keep your finances organized.
#4: Upwork
Freelance web designers, artists, photographers, translators, content writers, marketers, and other experts are all available for hire at Upwork. The platform makes it easy for small business owners and entrepreneurs to connect with experts who can offer needed services at a reasonable price. It’s easy to use, and the site offers information on each freelancer, including star rating, price, and how many days it will take for a freelancer to deliver the order.
Cost varies, as each freelancer sets his or her own prices; additionally, certain types of services cost more than others. Bear in mind, however, that the services provided also vary depending on the contractor you choose. It can be hard to tell, at a glance, which freelancer would be the best fit for your business.
If you need a range of services or would prefer to work with a single person rather than multiple freelancers, hiring a company that offers all the products/services you need maybe your best option.
#5: Slack
If you need a reliable, versatile communications platform to coordinate projects with partners, employees, or freelancers, Slack is the platform of choice. This quick messaging app offers a range of features, including the ability to make video and voice calls.
You can send files via the app, as well as search through messages and files with ease. It also connects with well over two thousand other apps for added convenience.
The program is free with limited features and a Plus plan costs only $5 a month. While there are free alternatives and not every new business will need the services Slack offers, it offers tremendous value for the relatively lower price tag.
#6: GoDaddy
GoDaddy is one of the best-known domain and website hosts on the internet. It offers everything you need to set up any type of commercial website, including domain names, website templates, SSL security, and the lowest sale transaction fees in the industry. What’s more, GoDaddy has a reputation for providing fast, efficient customer service and has a 99.99% uptime guarantee.
However, bear in mind the platform isn’t the best option for everyone. Other platforms may offer the services you need at a better price, so do careful research before choosing a host as it’s not always easy to move from one service to another.
New business owners should also be aware the sign-up price is a lot cheaper than the regular one, and you could be in for an unwelcome surprise if you haven’t planned accordingly.
#7: Later
If you plan to promote visual content on Pinterest, Instagram, Facebook, and Twitter, Later is a great tool to help you schedule these posts, so you don’t have to stop what you’re doing several times a week to post social media updates. It can even help you find on-brand content that can be modified for use by your business, saving you the hassle of having to come up with ideas for new social media posts.
Later offers a free 14-day trial period, so you can see if it’s a good fit for your business. Unfortunately, after the trial period is up, the cost of using the service can be quite expensive. The cheapest plan is $15 a month, and those who need additional features will need to shell out between $40 and $80 a month.
#8: MailChimp
MailChimp offers a range of services to build and grow your business, including custom domains and website designs. Even so, it’s best known for its stellar email marketing services. The platform makes it easy for you to send automated emails to people who sign up for the first time or make a purchase.
It offers the tools you need to personalize your email marketing to appeal to different target demographics. What’s more, it helps you analyze the results of your campaign to see what’s working and what’s not.
MailChimp offers a free program with limited features. Those who need more features and amenities can use a paid plan, which ranges in cost from $11 to $299 a month. Perhaps the biggest drawback of the service is that you can be suspended or even have your account without notice if MailChimp gets too many unsubscribe requests or spam complaints.
However, those who test their emails and avoid dubious practices such as buying an email list shouldn’t have to worry about such issues.
Final Note
Running your own business can be an incredibly fulfilling experience. You’ll have full control over your life and schedule, along with the potential to make more money than you would as a 9 to 5 employee. You’ll also be able to choose what you sell, pick your business partners, and even choose your customers in some cases.
If you feel entrepreneurship is the right path for you, the above-mentioned tools will help you get started on the right path, providing the practical support you need to start and grow your new company long-term.
