3 Essential Tools for Growing Your Business

As you grow your business, you’re probably considering what tips, tech, and tricks you can use to get ahead. It’s no secret that growing a business can be challenging. However, if you know what you need, and what specific tools your industry calls for, you’ll boost your chances. But that’s not always so simple.

It’s no secret that as technology progresses, the business world is changing. With new technologies like cloud computing, big data management, and novel cybersecurity protocols, the playing field is shifting even as you’re trying to get ahead. In this post, we’ll cover the essential tools that your business needs to grow. Some are intuitive, some are less so. Check out this list and be prepared to fast-track your growth strategy as you blaze into 2020.

Cloud software

Are you still keeping all your files, data management tools, and analytics software on a hard drive computer? If so, there’s a chance you may soon be outpaced by competition. Much of current business computing is rapidly being moved to cloud storage. There are a few key reasons why. 

• Cloud storage is safer: if your computer is robbed or destroyed, your files remain safe

• Cloud computing is more powerful: instead of being restricted to your desktop tower, the massive computing power on the cloud server is at your disposal

• Cloud data is always available: have an employee who needs to work on the go? Cloud storage allows them to tap into your business’s full suite of resources no matter where they travel – everything from tax hosting software to mass photo storage.

If you haven’t started using cloud software yet, it’s a good idea to get on it ASAP. At the very least, you’ll be able to manage key security risks posed by keeping all your company’s valuable data on a computer. You’re just one break-in, fire, or flood away from losing your entire company’s work – not an ideal situation.

Big data tools

Big data: you often hear about it, but if you don’t know what it is or how it’s relevant to your business, you might need a crash course to get up to speed. Basically, big data is data, but big. Not just your ordinary regular every-day amounts of data – huge amounts of it. We’re talking potentially millions of data points, maybe more. Here are some examples:

• Consumer behavior

• Advertising information

• Economic trends

• Preference data

• Market trend analytics

How can this help your business grow? By having data analytics solutions available to your company, you can project market downturns, anticipate changes in consumer behavior, and even figure out the optimal solution for disrupting your industry. If you aren’t invested in big data research, now is the time. 

Employee management tools

You can’t expect to get anything done with dissatisfied employees. If your employees are unhappy with their work environment, they won’t be able to give the 100% you need to see your company succeed. Luckily, the 21st century has already cooked up some excellent tools for ensuring employees are satisfied and productive.

Keeping a satisfied and engaged workforce is key to boosting your profits. Luckily, there are many tools that you can use to ensure that your workforce is kept at peak productivity. 

• Time tracking apps can help make sure that you have a good idea how long projects take to complete, and can better forecast how long new projects will take in the future. 

• You may want to invest in employee communications systems, which allow rapid back-and-forth information exchange, and will also keep email clutter to a minimum – something many offices sorely need.

• Automated HR systems provide employees with a system for giving feedback and requesting time off, while reducing your costs, as you won’t have to invest in a full-time in-office HR department. 

• Systems for rewarding employees who have performed well are vital. Whether that’s providing them with a designated parking spot, or implementing a system for raises and commission based on performance, your employees will thank you.

Keeping ahead of the curve in business can be a serious challenge. However, by investing in the right tools, and staying in-pace with your field, you can get ahead. As the 21st century chugs ever forward, don’t let tech tools be your Achilles heel.