The Small Business Tech Stack: What You Need, and What You Don’t

As a small business owner, technology can feel overwhelming. There’s a tool for everything: email, chat, file sharing, CRM, POS, invoicing, social media, and the list goes on. It can be exciting to try out a new tool or think about the next thing you can implement in your business, but be careful biting off more than you can chew in the early stages. You don’t need EVERY tool, you need the RIGHT tools.

First, start with your core systems. If you’re going to be a retail store, you need a POS and inventory management system. This will likely be a smarter area to invest in than automation tools for your social media. If you’re going to be providing home services and out in the field, you need a project management system to manage your scheduling, your supplies, and your team. Think about your core business and the technology you need and invest there first.

Next, consider your general productivity platform – email, calendars, files and collaboration tools. Will you use Google Workspace? Or, will you be a Microsoft Shop? Start out with the lower level subscription options and work up as your needs grow. You don’t need to be on the top subscription level if all you’re using is the email platform and file storage.

Once you’ve considered your core business systems and your productivity platform, then you can start to expand into other technology.

Consider your cost-benefit analysis. If you’re considering a social media automation tool, how much time will it save you each month? Does the time saved outweigh the cost of the platform? If so, is it the right time in your business to be investing in additional software. Technology does save time and the most efficient businesses leverage technology to improve their bottom line, but if you’re small, and you aren’t generating a lot of revenue, it may not be the time to invest in it. If you’re exploring a tool that’s going to save you 10 hours per week and it costs $200 per month, that may seem like a no-brainer. However, if you have the time to spend the 10 hours per week right now, and you’re only generating $1,000 per month in revenue, it’s probably not the right time to spend 20% of your revenue on new technology.

Before you hire, can you leverage technology? As your business grows, this is when technology can play a huge role. If you can spend $200 per month on software that saves hiring someone for 10 hours per week, that is a much more cost-effective solution. Do you have technology in place that you can optimize to save you more time or avoid the need for hiring additional support? Leverage technology to your benefit and streamline everything you can before you pull the trigger and hire.

Tech Stack Solutions by Importance:

• Core Business Platform
  • POS, Inventory Management, Website (if selling online), Project Management System
• General Productivity Platform:
  • Office365, G-Suite
• Customer Relationship Management System (CRM)
  • HubSpot, Pipedrive, Zoho, GoHighLevel
• Marketing Platform (often built-in to CRM)
  • Email marketing, landing pages, website, etc.
• AI Tools
  • AI can create significant efficiencies in your business, but like anything else, there are now many to choose from. You don’t need them all. Consider the tools that you’ll use the most and create the greatest efficiency and implement those.

Technology is a critical factor in your business success. But don’t overwhelm yourself to start, get the most out of the technology you do implement, and review your tech stack regularly to make sure you’re still using everything you’re paying for!