As digital technology continues to become the norm in almost every aspect of society, businesses are expected to digitalize their operations now more than ever.
This may include, among other things, opting for cashless payment systems, investing in equipment to replace manual tasks, utilizing specialized software to increase productivity, or opening an online business banking account to better manage finances. By tapping into digital technology, businesses can improve efficiency while also future-proofing their operations.
However, digitalizing business operations is often a struggle for many small business owners, particularly solo entrepreneurs, due to the costs and integration challenges that come with it. Still, it’s an endeavor that’s definitely worth investing in to remain competitive in today’s increasingly digital market. So, if you’re a solo entrepreneur looking to digitalize your business, here are some tips to make it possible even with the limited resources you have.
1. Start with Free or Affordable Tools
Digitalizing your small business doesn’t mean shelling out huge amounts of money right off the bat. You can get started with free or affordable tools and still reap the benefits of these digital tools without breaking the bank. This approach also lets you learn the ropes first, allowing you to build the knowledge to discern which more expensive tool you may want to purchase later once you’ve got the budget for it.
For instance, if you need graphic design tools to create eye-catching labels and graphics for your social media posts, you can use free platforms such as Canva or DesignWizard. Then, once you’ve gotten more proficient with graphic design and would like more advanced tools to use, you can just subscribe to their plans to unlock more options or buy a different paid graphic design software altogether.
2. Leverage Social Media for Marketing
As a small business, marketing is a must to reach a wider audience for your products or services. Fortunately, you can do this even without a huge marketing budget by simply utilizing social media platforms such as Facebook, Instagram, and TikTok. These sites already have large communities so it can be easier for your posts to be noticed, so long as they’re engaging and consistent.
Short form videos are particularly popular, so consider a TikTok page for your business where you can post short videos showcasing different products. You may even give followers a glimpse of how your products are made through short clips of you preparing or wrapping them up to be shipped to customers. This can prove to be more engaging and may even pique the curiosity of people outside your target market to start looking into your business.
3. Set Up a Basic E-commerce Platform
Many customers today prefer to shop online out of convenience. Thus, part of your digitalization efforts should be to set up an e-commerce store where your customers can order with ease. Luckily, you can simply use available platforms such as online marketplaces to sell your products and also gain access to e-commerce tools like logistics support and chat options.
If you’ve already built an active social media presence, however, then you can just use that platform’s built-in shop for seamless transition. Facebook Marketplace and TikTok Shop, for instance, are viable options for you to sell your products on as well.
4. Optimize Payment Options
In connection with the previous point, make sure you offer digital payment options as well. This way, customers who prefer to use their mobile banking or e-wallet apps can settle transactions with ease. Fortunately, e-commerce platforms often come with built-in payment gateways already. By expanding your available payment options, you also give more freedom to your customers to decide how to pay you, which they will surely appreciate.
That said, it’s also important that you set up an online bank or e-wallet account specifically for receiving business payments so you don’t mix your personal funds with your business revenue. Consider digital banks like Maya both for accepting payments and opening an account for more seamless finances.
5. Build Customer Relationships with Chatbots or Messaging Apps
Handling customer inquiries as a solo entrepreneur can be overwhelming at times. By tapping into chatbots or automated reply features on messaging apps, you can address basic questions that customers may have while reserving your time and energy for answering more complex queries.
Messaging apps such as Facebook Messenger and WhatsApp offer automation features that allow you to set predetermined questions with answers that customers can navigate on their own. This ensures that no customer inquiry goes unanswered and also lightens your load as a solo business owner.
6. Embrace Cloud Solutions
Cloud storage allows you to store important business documents online so that you can access them even on the go. Google Drive, for instance, includes 15 GB free storage space that you can use for files, photos, and emails. If you end up needing more space eventually, then scaling can also be easily done through paid plans. Through digital storage, you reduce the need to purchase expensive hardware, which can help save you money.
Meanwhile, free cloud solutions for managing invoices, expenses, and receipts, as well for creating documents or spreadsheets allows you to increase your efficiency in handling various business processes.
Solo entrepreneurs can take advantage of the perks that digitalization can bring to businesses, even with limited budget and resources. All you need to do is be strategic in the way you utilize the digital tools available for maximum effect. Let the tips above guide you into digitalizing your business, thus pushing for overall increase in productivity, efficiency, and growth in your operations.
