Internet marketing isn’t as difficult as it seems, although there are multiple levels that make mastering it a complex feat. You’re probably already using tools like a good CRM and Google AdWords to boost your digital marketing campaign. That’s a great start, and yet, there’s more.
One of the most important aspects of internet marketing is organizing your entire business from the top down. When you’re not organized, success is presumed rather than calculated. If you plan on growing your business, presumed success can tank you before you get started.
The best internet marketers calculate expenses to the penny
Successful internet marketer Gary Vaynerchuk (net worth $50 million) didn’t achieve his success by guessing at his expenses and spending money that might not be available. He built a solid, stable business from the ground up; something he says many entrepreneurs fail to do.
Vaynerchuk’s advice to entrepreneurs regarding expenses is serious, yet sincere. He told YFS Magazine that his biggest concern for first-time entrepreneurs is that they don’t have at least one year’s rent and overhead saved, and are unprepared for the cash that quickly disappears before turning an actual profit.
Vaynerchuk points out the necessity of understanding exactly what it takes to pay for necessities like rent, supplies, services, and other expenses. Too many entrepreneurs skip this foundational step, believing they can rely on positive thinking and effort to make everything work out.
Without keeping track of your business operations, your perception of how much profit you’re making will be skewed. For example, if you don’t know exactly how much your operational expenses are, you don’t really know how much profit you’re making.
Making decisions based on perceived success is a threat to your actual success.
Before you buy additional internet marketing tools, check out the following list of software applications to make sure you’re taking care of your operational needs first.
1. Payroll software
If you pay more than one person for their services, you need payroll software. You may not need fancy software that automatically cuts checks, but you need software that calculates payments and tax liabilities for employees and contractors.
Some payroll software will even let you know when you’re legally required to send a 1099-MISC to a contractor. This isn’t something you want to rely on a sticky note for. There are hefty penalties and fines for not filing these forms properly.
2. Call software
If you’re working with call leads, your business will benefit from using a call platform like Phonexa. It’s an efficient way of tracking your calls, allowing you to see which of your marketing efforts are driving calls to your business.
Even if you’re not yet taking calls with high profile clients, get in the habit of keeping organized call records so you don’t have to scramble later.
3. Shipping software
Most entrepreneurs start off shipping products from home by taking them to the post office or printing postage online. That might work today, but if your company grows to any degree, that method will lose efficiency fast.
If you’re already shipping out multiple orders each week, consider a shipping software application like Endicia. Endicia increases your efficiency by making printing postage simple. With software that runs off a small printer, you won’t have to wrestle with your inkjet printer to get the correct size label. Depending on how much business you do, it’s also possible to get discounted postage.
When you start shipping more often, shipping software will save you time, frustration, and money.
4. A virtual time clock
A virtual time clock like TSheets makes it easier for you to maintain a log of all hours worked by freelancers and other contractors you hire. Remote employees can also use a virtual time clock when working from home.
A virtual time clock isn’t perfect, but it’s better than calculating hours worked manually. If you’re worried about people taking advantage of you and clocking more hours than they actually work, the risk is there no matter how hours are accounted for.
Build your foundation with the right tools
Imagine your business growing so quickly that you find yourself having to manually calculate more expenses than you can manage. You can prevent this by adopting the right organizational tools today.