Access to small business tools is necessary for an owner to be able to reinvent the wheel hundreds of times every week. As it is, it’s hard work running an establishment, and with some framework, it is possible. For example, a businessman putting together a proposal without using small business templates would spend more time working on the aesthetics than the actual content.
The same thing applies to financial planning templates and website design. Other commonly used tools like spreadsheets are designed and ready for various uses like financial statements or balancing checkbooks. Sample documents, letters, and formats are available for various functions, from B2B contracts to job application forms and independent contractor agreements.
It’s also important to be well-prepared with checklists for dealing with critical matters. This includes trademark disputes, tax audits, subpoenas, and customer lawsuits. The only alternative is to keep a roster of expensive experts on the payroll who will then dispense advice identical to that on the checklist.
This is all very useful, but it is just a fraction of what a full toolkit contains. The real stuff is used for bigger things, like sales and marketing strategies, HR management, performance analysis, and customer relations. A survey tool could easily poll all customers about specific issues and collect the data into a report or charts for analysis.
When a task needs a lot of doing, check up on a biz resource website to see if there’s a tool available to make it easier. There are even applications that can help with research for the purchase or sale of companies. A good example is the valuation calculator, which can instantly provide a ballpark estimate of the value of a company.
The toolkit should be especially useful for HR functions where there is a high degree of repetitiveness. Job application forms are required, and employees constantly fill out forms and documents for appraisals or satisfaction surveys. The biggest help comes in using tools to manage benefit programs, which are very difficult to manage while being important from a tax viewpoint.
The biggest use of a proper toolkit is in sales and marketing. The collection of metrics and data analysis needs a few high-tech tools. Worksheets are created to evaluate ad campaign effectiveness and put a number on the cost of customer acquisition. A telemarketing tool in the right hands can be devastatingly effective.
Before this becomes a multi-page list of small business tools, let’s summarize by remembering what’s important. When faced with a task that needs to be done from scratch, there will always be a tool to make it easy. This is because no matter what it is, there’s always someone somewhere who has faced the same issue and has come up with a standard tool to do the work. This is true for every business planning, so don’t reinvent the wheel – use the tools.
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