The $1 million question not enough small business owners know how to answer.
A business is only a business if you have at least one customer. And if you have a customer, the first thing you need to do is be able to invoice and collect from that customer.
In other words, no cash, no business.
For that reason, the first system any entrepreneur should set up is an accounting system. The second system any entrepreneur should set up is a CRM, ideally before you process your first bill.
Why? For starters, a CRM system is the only way to keep your customer interaction straight. Just as you would never track your invoices with a paper napkin, you should never trace your customer interaction with post-its and a wide arrangement of paper scraps.
A CRM solution allows you to trace every single name, channel of contact, invoice, product, interaction… you name it, helping your business…
- Track leads
- Qualify leads
- Close sales faster
- Measure success
- Improve sales staff performance or individual sales performance
- And perhaps most importantly, establish actual market value
In fact, if your competitor has a CRM system and you don’t, you are already behind.
On the other hand, if you get one and they don’t have one, you will take an instant upper hand.