A Guide to Your SMB Tech Stack

An SMB tech stack

An organized technology "stack" (tech stack) can save dollars and hours when it comes to running your business. A tech stack is simply the collection of software and tools powering your business, and the right collection can:

• Save time and reduce headcount
• Minimize (or eliminate) human error
• Allow you (the owner) to do more (or work less)
• Add profits (obviously)

Here's a list of some categories and recommendations for inexpensive and highly efficient technology:

1. Financials — QuickBooks Online (QBO) and Xero are the 2 most common. If you're not on one of these, then this should be step #1. They're inexpensive, allow for third-party help (bookkeeper), and simplify the financial reporting process. Tons of automation capabilities too.
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2. Managing bills and A/P — If you're still printing and mailing physical checks, it's time to consider digital billpay software. While some banks offer this feature, there are affordable products like Melio, BILL, and even QBO, that make the process easier. Simply enter your payee details or upload a bill (PDF), and they'll handle the printing, mailing, and tracking for you. No more tracking uncleared checks, purchasing check stock, or making trips to the post office — this will change your life.
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3. Running payroll — Payroll is a headache and rife with errors. Although there are tons of great offerings out there, I prefer Gusto which has an amazing QBO integration. This saves me hours when it comes to accurately recording payroll in my financials. They take care of all W-2 filings and can handle contractors/1099s too.
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4. Cybersecurity — Do you use the same password for every website? Does everyone on your team share a password to login to key tools? Get a subscription to LastPass or 1Password and knock that off! These are insanely affordable, will create secure passwords for you, make the login process easier via autofill, and securely share login credentials with your team or partners (i.e. bookkeeper).
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5. Customer relationship management (CRM) — A CRM is a tool to track key customer relationships (contact activity, status, notes, purchase history, etc.). This can be useful for both product and service companies looking to provide excellent service to key customers. A simple spreadsheet could work or software like HubSpot and Zoho are relatively cheap (though they have a learning curve to them).
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6. Managing tasks and notes — While not required, it helps (me) to track the "who, what, and when" of the various tasks and projects going on in my business. Tools like Notion, Trello, and Asana are great for project management, task tracking, and storing notes/thoughts. (For another day: Notion acts as my personal "second brain" / database for my entire life.)
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7. Communications — Great for remote teams, tools like Slack (free) make it easy to chat online in real-time. For me, it keeps my inbox clean and allows for faster back-and-forth conversation during working hours. A throwback for anyone familiar with AOL instant messenger.
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8. Files and folders — Many of you are likely using Google or Microsoft to handle email, documents, etc. But are you properly using file storage to keep your business organized? (This could be an entire newsletter on it's own.) Here's my digital folder system for managing our entire business:

These are just a few examples to help you streamline and automate some existing business processes.

My list is likely missing a few good ones. Depending on your business, you might include: Shopify for an e-commerce storefront, Zoom for webinars / meetings, Calendly for appointment booking and scheduling, ConvertKit for email marketing, etc. And this doesn't touch industry specific software like ServiceTitan for trade service businesses.

Here's the full list summarized for you:

Takeaway — The goal here is to: 1) reduce costs; 2) reduce time investment; and 3) reduce errors. A highly efficient subscription could cost less than a part-or-full-time employee managing a portion of the business manually (billpay being a great example).