Updated: Aug 4, 2021
Are you a business owner who is in the growth phase? If yes, you might know that every business needs a business transformation strategy to grow and succeed. Business growth depends upon a variety of factors that may be within the control of the business owner, or not. When it comes to the controllable factors, it is imperative that there is a proper framework for scaling a business. Project management is a critical factor that determines the growth of the business. Every business must have reliable project management tools in place to grow. Do you really understand how project management tools lead to business optimization? If not, then we've got you covered with an answer.
Within this blog, you will find information on the importance of project management tools in small businesses. You will find a list of some of the top project management tools available to you to help your business succeed.
Why Are Project Management Tools Important In The Growth of Small Businesses?
Project management tools are necessary for every business, whether big or small! Every small business owner has to manage a variety of projects at one time. A few of the common problems that small business owners face while handling projects are knowing what resources are necessary to complete the task within a limited budget and timeframe. This is precisely where project management tools come into the picture.
Project management tools are as essential as a business scaling strategy. So, here's how project management tools are critical in small businesses and for business optimization:
Collaboration and Organization: Project management tools help promote better cross-functional collaboration and overall organization because they bring everyone on the same page. With the right project management tool, there will be no lost emails, missed deadlines, multiple versions of documents, or chaos due to communication breakdown. With every person on the same page, achieving common goals becomes a lot easier.
Fulfill Objectives Faster: Offering your team members the right project management tool has a highly empowering effect. Not only do the team members receive a boost in confidence, but they work better both as a team and individually. By using the task management option of the project management tool, you and your team can easily reach the objectives faster than before.
Cost Tracking: For every small business, the costs involved are of significant consideration. So, one of the great benefits that are offered by project management tools to small businesses is "Cost tracking." A perfect project management tool allows the business owner to keep track of the budget and make necessary adjustments wherever required. With the ability to track your expenses, you will further be able to track the progress of your project.
Time Tracking: Undoubtedly, time is one of the essential aspects when it comes to project handling. Not setting the deadlines means that the project continues for a long time, and as you know time is money, so it becomes vital to keep track of time. With project management tools, you can easily create a visual timeline and reorder the tasks accordingly so that you can complete the project within the targeted time frame.
Evaluation: The best thing about using a project management tool is that you have everything documented beautifully in one place. You can say that you have a complete reference for upcoming projects within the project management tool. Not only this, but you can even identify where mistakes were made, where you went over budget and many more things. Such evaluations are very important for a small business where resources are limited, and the same people are working on different projects.
Shared Calendars, Documents, and Contacts: Most project management tools are helpful for small businesses because they offer a user the facility to store and organize a variety of documents effectively. As most projects involve a large number of documents, with the help of a project management tool, one can easily store and organize data. By creating a centralized document storage plan, each member of the team can quickly edit and contribute. Apart from this, the project management tool's shared calendar feature makes it easier for people to coordinate meetings.
Flawless Team Workflow: With a proper project management tool, the process of getting the whole team to work as one is simplified. Using a project management tool gives the team leader an opportunity to track the tasks that the entire team is working on, and it will also help the leader to know who is involved in each task. In this way, project management tools can help achieve flawless team workflow, which in turn contributes to the sustainable future of the business.
Top 4 Project Management Tools To Help Small Businesses Grow
As you have read above, project management tools are of great help when it comes to growing small businesses. We came up with the list of the top 4 project management tools that will enable better task management, productivity improvement and therefore business optimization.
ClickUp: ClickUp is a cloud-based project management tool that is suitable for all types of businesses, whether big or small. It collaborates vital business applications and centralizes the information of the business into a single online solution. ClickUp is a tool that helps the users work in an accessible and efficient way with excellent features.
Monday.com: Monday.com is a strategic planning project management tool that your team will enjoy getting hands-on with. This tool makes it easier and fun for everyone to collaborate, organize and focus on priorities. Not only this, but Monday.com is the first visual tool of its kind, and it moreover shows you where things stand at a single glance.
Trello: Due to its ease and simplicity in setup, Trello is a project management tool that is encouraged for use by small businesses. The main interface of this tool functions just like a whiteboard. So, if you're hunting for a project management tool that can easily be set up without any hassle, then Trello is the best option for you. There is a limited-time free option to test this tool, and the paid version of this tool is pretty expensive.
Asana: The interface and design of this project management tool is similar to that of the file management system of the computer. This fantastic tool not only specializes in workflow management but also handles challenging task management requirements with ease. It is a perfect tool for managing projects because it comes with easy-to-use features.
This is how the right project management tool will help you in growing your small business. The concept of project management tools has been around for a few decades but its importance is increasing with time. So, choose the perfect project management tool for your business and get started on your journey to business optimization!