Coming up with a business idea and operating your own company can be a profitable business worth any associated risks. With the right skills, business strategy, business acumen, workforce, and technology, your startup can take off and become a formidable, competitive force in the industry. The technological solutions you equip your startup with can significantly contribute to your success, if you properly incorporate technology into your small businesses.
Acquire software that allows you to track your progress at meeting your startup’s goals.
You’re likely itching to grow your business and establish professional stability amid the unpredictability of the ongoing pandemic. Still, avoid the temptation of scaling and growing your company too fast. Moving too fast and too furiously with your business could prevent its growth and be costly. To pace your startup’s growth appropriately, consider setting practical goals for it and creating a reasonable timeline. Perhaps your sales team aspires to increase profit by five or 10 percent, or you want to transition your workforce into a remote team, and you’re scheduling to complete these goals by a specific time.
The best practice for setting goals and tracking your success at achieving them is using an OKR framework. OKRs are management strategies that define objectives (goals) and key results (metrics that indicate your progress at achieving your objectives). Using OKR tracking software to complete the OKR process allows business owners of small businesses and large businesses alike to decide which goals they’ll focus on and monitor the methods and timing for accomplishing the goals they set.
Use inventory management software to make the best decisions regarding your assets and products.
Your startup’s inventory can simultaneously be one of its most essential assets and also a liability. The finished products in your inventory keep your business going. Returning and new customers who often get “product out of stock” messages from your company may move on to your competitors to meet their needs, demonstrating how detrimental an inventory shortage can be for your business. Having a large inventory can also be a downside to business as it invites the risk of theft, damage, spoilage, and more.
A business professional who isn’t aware of how much inventory they have may not have the right products stocked at the right time or make beneficial reorder decisions. For this reason, utilizing inventory management software can be the solution to your inventory problems. Such software allows you to track inventory as it moves from manufacturing to storage to the point of sale. With this technology, you can know the best time to place orders, how many stock items to order, and where to store the units you purchase. Ultimately, this technological solution is a great option that enables you to track your physical inventory and supply life cycle in a streamlined fashion.
Leverage customer service and call center software to provide excellent customer experiences.
A successful startup keeps its customers at its heart. An effective way to focus on your customers and meet their wants and needs, therefore increasing customer satisfaction, is to equip your help department or customer service contact center with technology that enhances the quality and modes of communication between your company and patrons.
Instead of spending money on staffing and obtaining separate systems for handling incoming calls, customer queries, and running a customer support center, consider centralizing your customer contact center using call center software solutions developed by Bright Pattern.
A leading provider of AI software for call center operations, Bright Pattern empowers companies to optimize how they connect with customers. The one-of-a-kind omnichannel platform developed by this provider enables your call center to reach customers through live calls, video calls, live chat, email, social messengers, and SMS. In addition, this software solution—the first of its kind—equips your customer service centers with interactive voice response (IVR), inbound calls, and outbound calls. Using such robust technology and data platforms lets you communicate with customers more efficiently and effectively and prioritize new customer data information sources, allowing customers to enjoy enhanced communication and experiences with your small business.
Only buy the technology you need.
The key to obtaining the right tools without breaking the bank is buying necessary equipment only. Avoid buying technology strictly because it’s new, as it could end up being too small or big, too slow or fast, or incompatible with your current systems.
To ensure you’re making purposeful purchases, seek expert guidance on the best business solutions. Using a tool like Luminwise enables you to read reviews and product recommendations from a team of industry experts. These experts’ descriptions of a product’s basic features, advanced features, pros, and cons, can help you determine how well a technological solution would fit into your operations.