How Entrepreneurs Can Enhance their Business Supervision with Smart CRM Tools

Though becoming an entrepreneur may seem to be a lucrative option, it’s certainly not a piece of cake. There are a million tasks that have to be managed simultaneously, and business owners need to personally supervise all vital aspects.

There has been a rapid growth in the popularity of entrepreneurship in the recent decade. There are over 582 million entrepreneurs in the world, and the numbers seem to be escalating at a fast pace.

So, what’s the main reason that people prefer to start their own venture, rather than take directions from an employer? Well, the main thing to understand is that entrepreneurs are highly driven, motivated and passionate individuals with a desire to conquer their dreams. They want to make a difference, and are usually deeply involved in every functional domain of their organization.

Why Do Entrepreneurs Need To Monitor Their Business Closely?

If there is one thing that holds people back from becoming an entrepreneur, it’s definitely the risk of failure. The current business arena is fiercely competitive, and new ventures need to develop a credible reputation to gain a loyal customer base. One major mistake could cost your company lost revenue and create a negative brand image.

The key to success is close supervision by entrepreneurs in the daily business operations. Since 21.5% of small business owners fail within the first year of commencing operations, it is very important for entrepreneurs to monitor all vital aspects such as finance, marketing, human resources, and sales.

Delegating the minor tasks is fine, however all strategic decisions need the direct involvement of the business owner. This will ensure that the new organization can follow a predetermined path and avoid any potential errors. Let’s have a closer look at some great benefits of business supervision by entrepreneurs:

Superior Team Performance and Collaboration

Entrepreneurship is not a one-main show; rather it’s a team performance. Entrepreneurs need to supervise every business function to ensure that the team will not sink or under-perform at their job. It is important for new business owners to strike the right balance between providing autonomy and monitoring the team – they need to be flexible, yet keep a strict check on all actions that can have an impact on end results.

A lack of alignment in goals has a severe negative impact on team performance. When an entrepreneur manages or supervises business operations, he has a clear picture and can set individual and group goals. This reduces any kind of possible confusion, and conflict. Direct contact with leaders has a motivating effect on teams, and they remain highly engaged at the workplace.

Excellent Customer Experience

Customer is king – new ventures need to live by this principle, and walk the extra mile to provide an excellent customer experience. Entrepreneurs need to supervise every aspect of the customer journey – right from the initial contact to the closing of a deal.

Business owners need to interact with their customer support representatives and remain aware about the service levels that are being provided to them. Owners need to closely monitor interactions, and look out for common problems or grievances. This will help them train employees better, and make required changes in the service model to ensure that customers have a pleasant and engaging experience.

Better Growth and Diversification

There’s no doubt that entrepreneurs that supervise business operations closely will experience higher growth rates and scale up the ladder faster! When the owner keeps a strict eye on the daily functioning of the organization, the entire workforce will be vigilant. They will utilize all resources in an optimum manner, not waste time, and perform all duties diligently.

Close monitoring by entrepreneurs will ensure that the organization functions like well-oiled machinery. It ensures that new ventures can achieve their targets, and diversify into different market sectors with ease. This is the prime reason that most entrepreneurs do not hand over the reigns of management of outsourced parties or independent directors – they remain involved to help the organization grow to the maximum potential!

Smarter Decision Making

Startups need to have a long-term vision that is created by the entrepreneur. New organizations will not be able to achieve strategic goals unless the owner monitors the hiring of team members, accounts, investors, marketing, and customer relationship management.

While extremely minor day-to-day decisions can be delegated to staff members, it is essential for any other decisions to be run down by the business owner. An entrepreneur will be able to weigh the pros and cons, according they can take a decision in the best interest of the venture. Smart, well-calculated and fair decisions will lead to fast business growth, increased profitability and an enhanced brand reputation in the market.

How Can Entrepreneurs Use CRM Technology For Effective Business Supervision?

The advent of modern technology has made life easier for entrepreneurs. They can invest in automated systems such as CRM software to supervise various vital areas such as contact management, client interaction, and sales analytics.

There has been a rapid growth in the adoption of CRM software in recent years. In fact, the global CRM software solution market is expected to grow to 40.26 billion US dollars by the year 2023. This clearly depicts how CRM software has penetrated the business world, and is on an increasing growth trajectory.

CRM software can help new businesses thrive by opening up a world of opportunities. The rise of new-age cloud-based CRM platforms has enhanced flexibility, cost-effectiveness and convenience.

The market is flooded with diverse types of CRM tools. Business owners need to analyze their business needs, research the various CRM offerings by service vendors, and customize integrated software for their startup. To illustrate the importance of CRM solutions for entrepreneurs, we have compiled a list of the 8 best systems in the markets with their unique advantages for startups:

Zoho CRM

One of the most popular CRM tools in the market, Zoho CRM is affordable and comes power-packed with an array of impressive features. It effortlessly brings together sales, marketing and service functions in a unified manner. This will give entrepreneurs the ability to supervise the business effectively, and keep track of all vital performance parameters.

Key Advantages For Entrepreneurs:

✔ Offers advanced reporting features that allow for data export and import.

✔ Helps in managing and restocking optimum inventory level.

✔ Has the ability to be linked with social media channels such as Twitter, Facebook, and LinkedIn.

✔ Zoho CRM can integrate with multiple devices such as iPad or iPhone, Android, or Blackberry.

MyOperator

An advanced cloud-based call management system, MyOperator has powerful CRM features that are ideal for entrepreneurs to manage their startup. It aids in seamless contact management by keeping a record of all calls received by the business, hence making it easy for owners to keep track of communication with clients. MyOperator has a diverse set of novel features, an intuitive interface, and provides excellent support to first-time CRM users.

Key Advantages For Entrepreneurs:

✔ Inclusive CRM integration with all major platforms and enables smooth transfer of data.

✔ Facilitates seamless call routing to available agents, hence enhances the overall customer experience.

✔ Sophisticated reporting and analytics enables business owners to view real-time data for better decision-making.

✔ Features such as predictive dialer, IVR, and call monitoring streamline operations and enhance productivity.

Copper

This all-in-one CRM solution is designed for individuals and teams to help them manage leads, client communication, and sales analytics. It works within Gmail accounts, and drastically reduces the time taken by sales agents to enter data. The best part about ProsperWorks is that it requires hardly any support for setup, is extremely user-friendly, and works well with Android, iPhone or Blackberry devices.

Key Advantages For Entrepreneurs:

✔ Highly intuitive system – offers suggestions to add to the combined lead list directly from the Gmail inbox.

✔ G-suite integration helps to reduce errors and time spent for manual entry of data.

✔ Integrated VoIP functionality.

✔ Provides a 360-degree view to entrepreneurs by displaying real-time data such as pipeline status, sales funnel progress, and lead conversion rates.

Sugar CRM

An ideal CRM suite for small to medium sized startups, Sugar CRM can help entrepreneurs manage leads, campaigns and reporting through a unified medium. It offers mobile capability, and can also integrate with Google Docs, Microsoft Excel and Word. Sugar CRM has a navigable and user-friendly interface, making it a popular option for entrepreneurs to monitor business operations.

Key Advantages For Entrepreneurs:

✔ In-built social CRM features to help in campaign management.

✔ Allows a business owner to track invoices, bills, and sales in a better way.

✔ Robust interface with advanced reporting and sales analytics tools.

✔ Manages the entire sales pipeline and monitors all customer communication.

Salesforce

A widely popular name in the CRM industry, Salesforce is a great option for entrepreneurs to supervise their tasks and operations in an organized manner. A customized CRM solution, it has a personalized dashboard, activity feeds, to-do task lists and calendars. It provides real-time data access on multiple devices and integration social CRM functionality.

Key Advantages For Entrepreneurs:

✔ Offers customizable calendar, dashboard, activity feeds, and task lists.

✔ Integrated social CRM abilities with Facebook, Twitter, and Instagram.

✔ Real-time data access on any Windows phone, Android, iPhone or Blackberry.

✔ Includes innovative reporting features and analytics that can display all vital marketing and sales metrics.

Insightly

A widely used CRM solution for freelancers and entrepreneurs, Insightly has various pricing tiers and can be personalized to suit specific business requirements. It can help business owners in managing all forms of customer interaction, and track major project milestones. It is an ideal choice for startups as it provides excellent customer support, easy set-up, and has a host of features that streamline marketing, sales, and accounts processes.

Key Advantages For Entrepreneurs:

✔ Integrates with major business applications such as Dropbox, Google Drive, Google Apps, and Quickbooks.

✔ Has advanced project management features for business owners to organize daily tasks better.

✔ Highly customizable, hence all tabs, fields and business modules can be personalized.

✔ Works both as a mobile and non-mobile application, with apps for Android and iPhone users.

Capsule CRM

This is an intuitive CRM tool that has drag-and-drop functionality, hence allows entrepreneurs to arrange tabs and fields in their preferred manner. As a new entrant in the CRM market, a UK tech company has developed Capsule CRM with API focused architecture. It has various pricing plans, provides round the clock customer support, and has a user-friendly interface that makes it suitable for new users.

Key Advantages For Entrepreneurs:

✔ Integrates with leading marketing apps such as MailChimp, Freshbooks and Xero.

✔ Aids entrepreneurs manage lead capture; pipeline management and track live sales data.

✔ Integrated social CRM ability, hence can manage customer interaction through multiple channels.

✔ Includes various useful tools for business owners such as notes, attachments, tasks, and calendar to facilitate routine activities.

Nimble

A low-budget CRM solution that is good for entrepreneurs and freelancers, Nimble is functional, agile and flexible. It has an array of useful features that enhance contact management, customer engagement, and sales monitoring. Nimble can be integrated with more than 40 leading business applications, hence threads marketing, sales, accounting and service processes effectively.

Key Advantages For Entrepreneurs:

✔ Smartly designed interface that has a live dashboard display of key performance metrics.

✔ Tracks sales and customer interactions for better business supervision.

✔ Can integrate with leading applications such as Google Apps, PipeDrive, Freshbooks, and MailChimp.

✔ Advanced social CRM functionality for integration with FaceBook, Twitter, and LinkedIn.

Entrepreneurs need to devote time and attention towards supervising their business so that they can attain success and customer engagement. Investing in a CRM tool is the best way to do so – it's cost-effective, multi-faceted, and super user-friendly to implement.

So, if you have a startup, do not forget to leverage the power of technology and invest in the best CRM software for better bottom line results and efficiency.