Small business owners and solopreneurs usually don’t have access to big offices with the latest state-of-the-art tech. Nor do they always have the resources to purchase this tech themselves. So it’s important for owners of small businesses to be judicious when determining which tech they need to invest in, which can be an asset to their company or productivity, and which really isn’t necessary at all. Of course, precisely which devices, apps, software, or gadgets will benefit your company depends somewhat on your particular industry, as well as your niche and circumstances. Nevertheless, there are some tech investments that are likely to pay off for any solopreneur. Read on to see some of the top recommendations.
Financial management and accounting software
This is one investment that is worthwhile for any business owner, whether they are running a business of one, or hiring employees – and even if they are fairly savvy about accounting, on their own.
- Every company should have access to good accounting software such as Quickbooks, Xero, or Wave, to help them stay on top of accounts payable and receivable, as well as their business taxes.
- Any small business that is regularly billing or invoicing can benefit from software like Zoho or Invoicera that will help them manage these areas of finance.
- Good budgeting is key to keeping a small business or even a freelance operation healthy and growing, so small business owners may want to invest in software such as Scoro or Centage to help in this area.
Software for cybersecurity
While larger companies may hire experts in cybersecurity, smaller businesses, and entrepreneurs can protect themselves from cyberattacks with the help of tech.
- Make sure you have good antivirus software like Norton or Kaspersky that can not only detect but hunt down and destroy dangerous computer viruses.
- It’s also important to have anti-malware programs installed that can keep out Trojans and spyware.
- Ideally, you will be able to find a security suite or package that contains several types of cybersecurity protection.
- You can acquire a variety of different IT security products from Commvault that will help you protect, store, and recover your data.
Software for marketing
Whether you’re a marketing expert or not, having the right tech for your campaigns will make them far more effective while also reducing time spent on marketing projects.
- Digitalwires can help you customize your brand identity through their website design services.
- Try to find a good marketing software program that will allow you to collect data and distribute content more effectively.
- You will also need to choose a social media management tool that works well for you.
How to budget for tech investments
Before rushing out and purchasing new business software or other tools, make sure you have a plan to pay for them.
- Write out a budget to see what you can afford to invest in.
- If you can’t afford the software you need right now, consider whether taking out a small business loan could be a smart move, especially if the software investment will improve profits.
When thinking about which tech to spend on, small business owners should think about whether the investment is likely to make their work easier, reduce their costs, or increase their profits. It can be easy to be beguiled by a fancy marketing campaign that tells you that you need this or that device or application, so before you buy, always think carefully about how this purchase will realistically help your business.