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3 Types of Tools Every New Business Owner Needs

by Adam Wright

When you’re a brand new business owner, you can easily be overwhelmed. More than likely, you’re on your own, so every task on your never-ending to-do list is on you.

So how do you keep up with all the hats you have to wear as a solopreneur? 

Well, first you need to have a bit of self-motivation and drive. If you’re going to succeed, you have to be the one to push yourself to put in the work.

Beyond that, you need to utilize the software and tools available to you to help you run your business. There’s a reason they exist, because business owners can’t live without them.

However, if you’re jumping in head first without knowing what you really need, you’ll quickly get lost in the never ending cycle of the internet.

So today, we’ll go over the 3 types of tools that we believe every single new business owner needs to start out with.

1. Project Management Tool

It goes without saying that your pen and paper to-do list will quickly get out of hand. Or, what if you misplace it? 

Sure, jotting down a quick note to not forget later is fine — but for managing your day-to-day tasks you are going to need a project management tool.

With this type of software, you can set up tasks, set deadlines, create projects, assign them to your team (if you have one), track your progress, and so much more. 

This is vital to staying productive and holding yourself accountable each and every day. Without the organization that a project management tool provides, you could quickly lose grip of your business.

Some examples of project management tools we recommend you check out:

  • Asana: Asana is a great tool for basic to advanced project management.
  • Trello: Trello is a kanban-style project management software that’s good for beginners to do basic tracking and list making.
  • ClickUp: A more advanced tool, ClickUp is good for businesses with a team or multiple departments.

2. Accounting software

Now that you’ve gotten your to-do list under control, you MUST get your finances in check.

I strongly recommend you open a new, separate bank account dedicated just to your business. This creates a much easier process for tracking your profit, expenses, paying taxes, and more. 

Taking advantage of accounting software can help you track all of those things, and more. With it you can send invoices, invoice reminders, accept credit card payments, reconcile your transactions, categorize expenses, track your profit and loss, and so much more. 

As a new business, knowing your numbers is so important to figuring out if you’re profitable, and if not, where the money is going so that you can reach a place of profit. Don’t make the mistake of just “winging it” and hoping for the best — be smart, because you have bills to pay, after all. 

Here are a few accounting tools you can check out: 

  • Wave: Wave is a free accounting software tool with invoicing, payments, and several accounting features you could need.
  • QuickBooks: An easily recognizable name in the accounting world, QuickBooks is a widely used accounting tool that can basically do it all.
  • FreshBooks: Great for freelancers and beginners, FreshBooks provides all the basic accounting needs to get your business started.

3. Business email

A tool that should not be forgotten, or assumed, is a business email. No matter what industry or field you are in, email is easily one of the most used tools in business.

By this, I don’t mean just an ordinary email address, but an actual domain-based business email (one that ends with @yourbusinessname.com). 

Sure, you can go ahead and use a plain @gmail.com, however there are intangible benefits to having a professional email address that shouldn’t be ignored. Credibility, legitimacy, and professionalism are definitely three that jump to the top of my mind — as nobody really thinks someone is 100% legit with “starchaser209@gmail” as their business email address.

Beyond those benefits, email is a marketing tool that should be used daily — communicating with customers, current and potential, sending invoices, sharing news, and more. It’s the single-handed most important piece of business tool you need.

In order to obtain a professional, domain-based email address, you can check out Google Workspace or Zoho Mail. Many of these come with a suite of tools, too — like Google Docs, Google Drive, and Google Calendar — all of which can be extremely useful to staying organized.

Do you have your tools picked out?

As mentioned, when starting your business you should go through each of these 3 types of tools and set them up before you do anything else. They’re more important and beneficial to helping you run your business, and you’ll thank yourself for doing so now rather than later.

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ABOUT THE AUTHOR

Adam Wright

Adam owns a small business, Adam Wright Design, where he helps businesses improve their customer experience by creating engaging, goal-oriented designs that resonate with their target audience. When he's not writing code or sketching logos, he enjoys spending time with family, playing basketball, or watching just about any motorsports.