Did you know over 69% of successful startup companies started as home or side businesses?
Do you have a concept that has the potential to revolutionize the world?
Do you envision yourself starting a company based on this concept and making millions, if not billions, of dollars?
For starters, planning and research are the first steps in starting a side business. The next is organizing yourself. There’re many minor details to keep account of — from marketing to communicating and bookkeeping. If you’re prepared to start your side business, it’s necessary to create your to-do checklist.
You don’t need to do this alone, which is excellent news. The web is rife with resources and tools, which will assist you in saving time, cost, and anxiety. To enable you to work more effectively rather than more laboriously, we’ve compiled the best tools. Since most of these solutions are inexpensive, you won’t need to make a big investment until your company has proven itself and is making money.
8 budget-friendly tools and resources to launch and start operating your side hustle
Establishing a new company can be challenging. Obstacles that you never would’ve imagined can arise, especially while seeking money for the venture. As your workload increases and the invoices start to pour in, limited resources such as time, labor, and funds may become an issue.
Nevertheless, you’ll shortly find yourself on the road to realizing your potential value if you’ve got a strong team and the appropriate resources. The eight essential tools that every side business owner should’ve are listed below.
1. Tools for branding and logos
You’ll need one logo whether you’re starting a webcast or a wholesome vegetarian recipe website. A well-designed logo will represent your company name, convey your brand image, attract attention, and set you apart from other brands.
You might also require other branding components, based on the kind of goods you’re making. If you plan to operate a market booth or pop-up business, this may involve banners or packaging when you produce physical products.
Where will you look to get these fundamental design components? Consider using Canva for DIY designing. It’s a simple, free design tool with a built-in logo creator. Also, Canva will print and ship you any actual marketing materials you require, such as brochures or booklets.
Consider hiring a skilled designer to create your logos and branding if you don’t know where to begin and have the money for it. Consider 99 Designs. The platform will put you in touch with professionals who can complete the task at a reasonable price.
2. Email promotional tools
Email promotion encourages client retention and loyalty. It’s among the most effective marketing strategies for companies. By obtaining your customers’ email addresses, you can contact them for the coming years because people tend to keep their emails for a long time.
Emails have a relatively high conversion rate when compared to several other platforms, which is the proportion of site visitors who ultimately make a transaction. Conversion rates via email can reach 5%, whereas they could be as low as 1% with social media.
Amass a list of devoted, active subscribers if you want your email marketing efforts to be effective. It’s an excellent idea to begin collecting email accounts early on since it can take some time.
For instance, you’ve probably heard of Mailchimp – the feature-rich email marketing tool. However, you could be seeking substitutes that can address Mailchimp’s flaws. Although Mailchimp targets small businesses, as the company expands, neither its subscription plans nor its free plan provides excellent value.
What other Mailchimp alternatives for your side business do you have then? Do your homework and investigate the top email service providers, comparing features and costs to help you select the ideal package for your company.
For example, you can go for an email marketing platform like Flodesk, which helps owners of small businesses create emails that customers want to receive. The tool makes it simple for novices and pros alike to create their mailing lists, engage their communities, and turn subscribers into customers without a website. It offers beautiful email templates and interactive forms.
3. Management of projects and collaborations
Use project management apps that enable you to keep all of your project tasks in one location where everybody can see what state each task or project is in. None of your data will be misplaced or messed up in this manner. It’s a technique for streamlining and improving teamwork.
Use tools like Trello and Asana if you’re side-hustling with a colleague or business associate. Trello or Asana is visual organizational software that functions something like a team-wide online to-do checklist.
Time management applications can be a better choice if you’re working alone as a side business owner. You can organize the business aspect of your startup company with the use of this knowledge.
Toggl, for example, tracks your hours and generates reports that show how much you devote to specific activities. If it reports that you invest the majority of your time publishing post online, you might wish to delegate that operation to free up more hours for other projects.
4. Financial resources
Although setting up your bookkeeping early on won’t seem like the most thrilling element of starting your side business, it’ll prevent difficulties later on.
Smooth accounting procedures are crucial for a number of reasons. Make sure that you pay any suppliers on schedule and that buyers or clients pay you as soon as possible. However, it’ll also assist you in managing things like expenses and taxes.
You can benefit from the sense of security that stems from the fact you’re in control of your finances by having software handle the task for you.
Manage your cash inflows and outflows with digital accounting systems such as Xero to maintain your finances. Xero makes bill payments, invoicing, and accepting payments simple, whether you’re in the business of selling something or collaborating with numerous clients.
5. Social media tools
Whatever side business you create, you probably want to establish a social media presence. Staying in contact with your community or customer base can be done through social media. You can use it to promote sales or make announcements, such as what delectable recipe you’ll find from the blog this week.
Networking sites are another tool you may utilize to develop your business. For instance, uploading charming images or tales from your family ranch would fall under this category. Utilize them to create content calendars, schedule posts, or design content (using Canva). They significantly reduce the time required to remain active on your social media channels. For instance, you may announce on social sites the offers you’re currently providing.
Herein lies Plann’s role. Plann enables you to organize the whole of your Linkedin, Facebook, and Instagram postings in one location.
6. Analytical tools
It’s all about numbers when starting a new firm.
- How many visitors does your site receive?
- Where does the bulk of this traffic originate?
- What’re some of your intended audience’s most important demographics?
Monitoring each of these issues is a difficult task, but they’re all crucial to a startup’s sustainability.
With analytical tools, people can view their important figures, split out daily, weekly, monthly, or yearly, as well as the nations their website has been viewed in, alongside the proportional differences in traffic generators.
Google Analytics can help with it. Google’s statistics software is another example of how they capitalize on its image for providing cutting-edge and user-friendly services. The best part is that Google Analytics uses specially identified charts and graphs, allowing even the weakest tech-savvy person to feel secure in interpreting their data.
7. Task management apps
Using a task-management tool, you can save your photos, documents, and videos using features like cloud storage, allowing them to be viewed from anywhere. Don’t stress over losing a paper or sending too many files. You may quickly share files with other people using such apps.
A multitasker’s salvation is Dropbox, which establishes a virtual connection among all of the internet-connected gadgets. One further lesser-known advantage of this file storage is that Dropbox enables you to keep all of your data organized. Your documents will all be in place when you visit the following morning if you create customized files and save them correctly.
8. Communication tools
Communication is key, especially when you need to interact with people across the globe and dispersed diverse teams. Think of tools that have excellent video abilities for big groups and affordable phone capabilities. Exorbitant phone costs are a concern for new firms that may have to deal with international clientele and time zones.
Skype has transformed long-distance relationships in general, not just emotional ones. It’s a useful tool for sending documents instantaneously while on the phone. The combination of multiple tools like phone, chat, and video establishes a powerful social hierarchy and an even more potent commercial tool.
Operating your side hustle on a budget
Working a side job is difficult, especially if you have a full-time job.
Why complicate your own life?
Instead, count on the most cutting-edge yet inexpensive software and technology to handle many aspects of your organization virtually automatically. Then, you may concentrate on the crucial tasks that’ll turn your side business into a profitable venture.
Atreyee Chowdhury is a freelance content writer with more than 10+ years of professional experience. She is passionate about helping SMBs and enterprises achieve their content marketing goals with her carefully crafted and compelling content. She loves to read, travel, and experiment with different cuisines in her free time. You can follow her on LinkedIn.