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Starting a business can be overwhelming, especially managing the different aspects of it. The major challenge of every new entrepreneur is to keep the startup costs as low as possible. 

Fortunately, technology has advanced a lot and today there are ample digital tools available to help you overcome these challenges. 

These business software and tools can be used to manage daily activities and automate various repetitive tasks involved in the business. 

From tracking employee performance and attendance to managing your budget and creating marketing plans, these tools can help you save time, money and effort.  

If you are an entrepreneur and don’t know where to start, we’ve got you covered. Here are seven essential business tools for startups.

Essential business tools for startups

  1. Communication Tools
  2. Project Management Tools
  3. Accounting Software
  4. CRM Software
  5. Marketing Tools
  6. Analytics Software
  7. Graphics & Design Tools

1. Communication tools

Effective communication is crucial for any type of business. Communication tools like Slack and Zoom allow you and your team to communicate with each other and coordinate day-to-day activities. These tools can also be used to connect with your clients and set up meetings with them. 

Slack is easy to use, and it allows you to share your screen while you are on a video call. You can create specific channels in Slack in order to connect with specific departments, clients or companies.

2. Project management tools

Project management software helps you track your projects and coordinate activities within your team. It lets you assign tasks, create deadlines, set up reminders and so much more. Trello, Basecamp, and Asana are some of the popular project management tools which you can start using. 

Project management tools have many features, such as task management, project planning, time tracking, resource allocation, budget management, and reporting. Using project management tools can help teams to stay organised, increase productivity, and ultimately deliver projects on time and within budget.

3. Accounting software

When you manage a startup, it’s very important to keep track of your finances.

How To Start A Business: A Step-by-Step Guide For Entrepreneurs

Accounting software is used to automate and streamline financial management and record-keeping processes. It includes various features such as accounts payable and receivable management, budgeting and forecasting, billing and invoicing, general ledger, payroll management, tax preparation, and financial reporting. The software can also help businesses comply with tax regulations, prepare financial statements for audits, and track inventory levels.

Some popular accounting software options include QuickBooks, Xero, Zoho Books, FreshBooks, and Wave. 

4. Customer relationship management (CRM) software

Customer Relationship Management (CRM) software is a tool that helps businesses manage their interactions with customers, prospects, and partners. CRM software includes features like contact management, sales management, marketing automation, customer service, and analytics. 

CRM software can be a valuable tool for businesses of all sizes and industries, helping them to build stronger relationships with their customers, streamline their operations, and grow their businesses.

A CRM tool like HubSpot or Salesforce can help you keep track of your customer interactions, sales, and marketing activities. The CRM can give you valuable data, such as who is receiving, opening, and reading your emails or visiting your website.

5. Marketing tools

Marketing tools are essential for marketing a business effectively. These tools can help you promote your products or services, reach out to new potential customers and build better relationships with your existing customers. Some commonly used marketing tools are Social media management software, email marketing software, Search Engine Optimisation (SEO) tools, content marketing software, etc. 

Social media is an important aspect of marketing for any business. You can use social media management software like Hootsuite or Buffer to schedule and manage your social media posts. Email marketing is another effective way to reach your customers. Email marketing software, like Mailchimp or Constant Contact helps you to create and send targeted emails to your subscribers. Some of the top tools for SEO include SEMrush, Ahrefs, Ubersuggest, etc.

6. Analytics software

Analytics software helps businesses collect and analyse data to gain insights about marketing and business operations. This will enable businesses to make informed decisions about their marketing strategies, improve customer experience, and increase efficiency. 

Analytics software such as Google Analytics, Tableau or Mixpanel can help you track your website traffic, user behaviour, and marketing campaigns.

Google Analytics is a free web analytics service you can avail to track your website traffic. It provides detailed insights about website visitors, including their demographics, user behaviour, and the source of traffic. Startup business owners widely use Google Analytics to monitor their website performance. 

By utilizing these business tools for analysis, startups can streamline their operations, increase productivity, and make informed decisions.

7. Graphics & design tools

Graphics and design tools are used to create and edit visual content, such as images, graphics, illustrations, and animations. These tools help you create compelling visual content used for marketing, website design, and social media content. 

Here are some examples of graphics & design tools:

  • Adobe Photoshop: It is a popular image editing software used to create, edit, and enhance digital images. It helps to create marketing materials, social media posts, and website designs. 
  • Canva: This is an online graphic design tool that provides users with a range of templates, images, and fonts to create professional-looking graphics, presentations, and social media content.
  • Wix: It is a website designing application that helps you create a professional business website without the need for any coding skills.
  • Figma: It is a powerful design tool that allows you to create user interfaces, website designs, and mobile app designs, etc. 

Now that you know which are the best tools for lead generation, marketing, project management, design and everything you need to get your business established, it’s the right time to start using them. 

If you wish to be an entrepreneur and want to gain more skills to launch your startup business, join Eaton Business School’s Executive MBA in Entrepreneurship & New Venture Development and get started right away. This course is designed for experienced working professionals and offers networking opportunities with a global peer group, mentorship from industry leaders, triple international certifications, & more. 

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