Our sponsor, Capterra, has plenty of tips for small business owners like you on how to remain competitive in your market and increase profitability. Operating a small business is filled with challenges and Capterra is an excellent free tool that helps you find the right software to enhance your company.
Not only is Capterra our sponsor, but we regularly use it when we need to search for software and web-based platforms to help us run our business. Our editorial team recently used it to evaluate options for managing calendars and tasks.
We were able to compare various platforms side-by-side based on features such as price, features and support, and we could read other business users’ reviews for further insight. Read on to learn more about Capterra, and learn about a survey it conducted of more than 700 companies about what they need to run their businesses.
Compare software for your business
Capterra advises small business owners to find out what business software their competitors are buying and how much they are investing, otherwise, you may fall behind.
While this may seem like simple advice, it can be challenging to discover how your competitors are spending their money — especially if you’re in a small market.
Thankfully, Capterra has already done the legwork for you by surveying over 700 small and midsize businesses throughout the country regarding their purchases and budgets for business software.
What Capterra found out about small businesses
Capterra learned quite a few things from the survey. For one, digital marketing is crucial to acquiring new customers. If your business does not have a website or social media presence, it will be difficult for potential customers to find you.
Maintaining a web presence is important for business owners who share a market with competitors who already have strong name recognition. A captivating website or social media page could easily make or break your business.
Capterra also learned one of the factors many small business owners overlook is security. When we think of security breaches or cyberhacks, we assume they only happen to the large corporations. Unfortunately, that simply is not true.
Government regulations and rules on privacy and data protection apply to smaller businesses just as they do with larger ones.
Research has revealed cyberattacks can cost small businesses $84,000 to $148,000 per incident. Around 60% of small businesses also go out of business within six months of a security breach. Bottom line: You need to prioritize security.
Small business owners should also invest in great accounting software. Successfully managing your cash flow is a huge part of owning a small business, and the right accounting software can make you more efficient and it can help you and your business avoid serious financial woes.
Small business and cloud computing
Capterra also encourages small business owners to take full advantage of cloud computing. Cloud computing can deliver the computing infrastructure used by the likes of Amazon and Microsoft, to small businesses. And, the great thing is it doesn’t require large capital investments or physical implementations.
Cloud computing also offers pay-as-you-go pricing, making it a great option for even the most frugal of business owners. With cloud-enabled software, business owners can access data storage technology without the costly upfront investment.
While we have just highlighted some great advice for small business owners, you can always visit Capterra.com for even more tips and tricks for small business needs. To read more about Capterra’s survey findings tap or click here.