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The Importance Of Using Small Business Tools And Templates

December 24, 2010 | Author: | Posted in Business

Without the use of small business tools, managing the show would be akin to reinventing the wheel. It’s hard enough as it is to run a company without having to do it all by hand and from scratch. For instance, without using small business templates, the businessman would be forced to focus on the aesthetics instead of the actual content of the plan.

This also applies to similar things like website design & financial planning templates. Then there are the many spreadsheets required, like checkbook balancing and financial statements. There are also the truckload of office document formats like contracts, independent contractor agreements and job application forms.

Then there are the checklists. It may seem superficial, but entire businesses have collapsed because there wasn’t a checklist handy when needed. Collect checklists for everything from franchising to trademarks and dealing with the taxman, customer lawsuit or a subpoena. The only option to not having checklists is to keep an expert for each crucial issue close at hand and ready to offer advice, if the business can afford it.

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, for instance, would easily be capable of polling all customers about specific issues and collecting the data into a report or charts for analysis.

When there’s a task at hand that 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 purchase or sale of companies. A good example is the valuation calculator, which can instantly provide a ballpark estimate for 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 up forms and documents for things like 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 the sales and marketing fields. 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 turns into a multi-page laundry list of small business tools, let’s just 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 come up with a standard tool to do the work. This is true for every business planning, so don’t reinvent the wheel – just use the small business tools.

Grow your small business with the aid of advice, business taxes, and small business resources. Read some business blogs that can help you prepare for challenges facing your business.

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