After filing your taxes, did your small business fare pretty well? Were you lucky enough to get some money back or have leftover funds to spend?
If so, congratulations! However, don’t plan an extravagant company party just yet with your extra cash. Instead, invest more of your earnings in some smart strategic places this coming year. Included below are just a few suggestions to get the ball rolling.
Organizational software
Even with the most talented employees and an enormous amount of luck on board, companies would be dead in the water without solid organization. No matter what line of business you’re in, a proper organizational structure is the only way to get from Point A to Point B. Luckily, there are plenty of software applications to guide the way, and we’ve briefly summarized some below. As a general rule of thumb, only use programs that will work specifically for your organization and make sure to train all your employees on the new systems to ensure they’re fully up to speed. If you miss either of these steps, you will either have some useless software in place or some fabulous software that no one knows how to use!
Project management software: Most businesses have a ton of moving parts –some more than others. Project management software helps with the juggling act, bringing multiple people and projects together in one cohesive virtual place. In this online arena (typically paid via a subscription model nowadays), employees/freelancers/clients can upload and access files, create and view calendars, and communicate about tasks. It’s a simple way to put some structure – and some sanity – back into your business model.
Collaboration/presentation software: In today’s world, it’s becoming more rare to work on a project or present a concept to everyone that needs to be a part of it in the same physical space. Employees and freelancers are far-flung in every part of the globe and companies must accommodate this dynamically remote workplace. There are software providers that cater to this unique community, providing an effortless way to share work, edit ideas, and even pass the presentation stage to an employee on an opposite coast or overseas a couple time zones away. No need to let walls limit your business anymore.
Timesheets software: You may groan at even seeing the “timesheets” word – especially if you are currently two weeks behind on yours – so we will keep this one brief. Timesheet software is absolutely essential in keeping everyone accountable, staying on budget (especially when you have many people working at different billable rates contributing to the same the job), and becoming profitable. Make sure your software program has remote access so no one has an excuse to fall behind on logging time.
Accounting software: If you don’t know where you stand financially, you might as well be walking into the night without a flashlight. Accounting programs like QuickBooks and Peachtree (with additional laser check compatibility features) give you the essential real-time snapshot into your financial health and future projections, providing both your short- and long- term roadmaps.
Educational training
When you invest into an employee becoming an expert in a niche area, you are directly investing into the future success of your business. For example, if you need a social media guru to capitalize on a huge portion of your business, look inside your organization before you travel outside of it. Maybe you already have a potential social media natural on your staff that simply needs the education and fine tuning to become a star. Find educational seminars, conferences, and certification courses that can make sense for your business growth.
Website design and SEO
If your website isn’t delivering the audience you want or the sales you need, you are hosting a virtual missed opportunity. Rely on an expert to tear apart your current ineffective website (the truth can sometimes sting) and build one that delivers your core brand messages to your audience in an effective and visually appealing way. Once your website is in tip-top shape, make sure that people can find you. A solid search engine optimization (SEO) plan is a non-negotiable strategy that every organization needs to succeed.
Above all, please (PLEASE) make sure that you get every key person in your organization to sign off on the site and SEO strategy before it goes live. This critical step can sometimes get pushed under the rug in light of busy schedules, but do it. Otherwise, you’ll find yourself repeating the work in six months when a key stakeholder just had time to look at the live site and doesn’t like it. It can seem tedious to take the time to do it right but it’s infinitely less painful to cross your T’s and dot your I’s at the outset.
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