6 Free Square Tools To Make Running Your Small Business Easier (2023)

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6 Free Square Tools To Make Running Your Small Business Easier (1)

If you own a business, you don’t need anyone to tell you about the value of time-saving tools. Personally, whenever I uncover something that unexpectedly makes business run more efficiently, it can almost feel like winning the lottery — time is that important to me. If you juggle a lot of responsibilities during your day, you probably feel the same way. That’s why I was pretty stoked to pull back the curtain and see what’s really behind the scenes when it comes to Square — one of the most popular payment processing apps available.

In this post, we’ll discuss some of the tools you may not have heard about that are available with any standard Square account. While I also get pretty excited about some of the premium options on offer (like Square’s email marketing and CRM tools), we are going to stick with the freebies in this post. Keep reading to learn about tools you can start using today that may help you do business a little smarter.

Note: Keep in mind, we’re not touching onall of the free software and tools you get with Square — just some of the most valuable ones. Check out our in-depth Square review for a closer look at everything Square has to offer.

Table of Contents

  • Inventory Management
  • Customer Directory
  • Card On File
  • Gift Cards
  • Virtual Terminal
  • Square Card
  • Is Square Right For You?

Inventory Management

6 Free Square Tools To Make Running Your Small Business Easier (2)

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When we talk about what is waiting when you open up a free Square account, one of the most important tools is your inventory management. Good inventory management is so important to keep your customers happy and ultimately help support your bottom line. Understanding what is most popular and identifying your best sellers can help you not only maintain the right amount of stock but support your promotional efforts as well.

So let’s start with the basics. After you enter in an item in your Square dashboard or the POS app, you can add the current stock amount, enable tracking, and set up a low stock alert right from the same screen. Whether you ring up the item from your POS, virtual terminal, or send an invoice, Square adjusts your stock automatically.

You can add item variants as well. Add different price points for sizes, add-ons, or customize however you like. Just name the variant, set the price, and add a unique SKU if needed. And if you sell in bulk, you can use Square’s variable price point feature to leave the price open based on the weight/quantity sold.

Need a customizable option like a topping change, a special dietary adjustment, or another type of swap-out? You can create modifiers for that, too! Unlike item variations, modifiers don’t decrease inventory accounts. You can opt to assign a price to your modifier, however.

When it comes to managing your physical stock, it is worth mentioning that the free POS account isn’t set up to print barcodes for your SKUs. Some business owners use a Dymo label printer as a workaround. If you have a lot of inventory and need a more robust solution for advanced inventory management (including barcode scanning and printing) in one solution, Square for Retail may be worth your while. Check out our full Square for Retail review for pricing and a better look at all the extra inventory-related features included with the POS.

Customer Directory

6 Free Square Tools To Make Running Your Small Business Easier (3)

When you use Square’s customer directory, the amount of data you have access to automatically builds with each sale. With just a swipe of the card, your list collects data such as your customers’ names, when they visited which location, and their visit frequency. During the sale, your customer may also have entered in their email address with you to get a digital receipt. Of course, if you are feeling bold, you can also ask your customers one-by-one for their email addresses so you can start building a healthy list.

Square’s customer database is accessible through Square Point of Sale or through the Square Dashboard. Under each customer in your directory, you can add a note, upload a file, view any feedback they have left you on their receipts, or create an invoice to send directly (more on that below).

(Video) don't move!!!!!! #squidgame

When all of these customer insights build over time, you can start to get a clearer picture of who your loyal customers are, who has visited more than once, and who hasn’t visited you in a while. You can also see what their favorite products are — all of which is useful data for your business in general, and especially for marketing purposes.

Again, the Square Customer Directory is entirely free to use, and it syncs with all of Square’s other tools — that includes paid software options such as loyalty and email marketing. The Square email marketing tool lets you segment customers,then customize email campaigns based on their habits. Square has pay-as-you-go pricing at 10 cents an email, or you can opt for a monthly subscription to send unlimited emails. Square offers a 30-day free trial for an email marketing subscription, and pricing starts at $15/month for up to 500 customers.

Card On File

6 Free Square Tools To Make Running Your Small Business Easier (4)You can make it easier for your repeat customers to order by phone or for a future invoice by saving your customer’s credit card information using Square’s Card on File feature. Be aware that your customers have to “sign off” so you can appropriately save their card on file, however. If you are completing a sale on your computer through Square’s Virtual Terminal, you will be prompted to print out the approval release and have your customer sign it. Keep this document in a safe place, because it proves you received their permission to store their card and can protect you from chargeback issues.

If you are at your free Square POS app, your customer can approve saving the card on file by entering in their zip code at the permission screen. After that, you can process their payments quickly and easily with no need to present the card. While it costs nothing to store a card on file or use the feature regularly, keep in mind that you will pay a little more with each transaction (3.5% + $0.15 per transaction instead of 2.75% per swipe/dip/tap) because they process as card-not-present, rather than card-present.

Is Card On File Secure?

6 Free Square Tools To Make Running Your Small Business Easier (5)

Square lets you store your customer’s credit card information with their approval, and yes, it’s fully compliant with the payment security standards set up by the PCI-DSS. That’s because when you enter credit card data, it is only going through the secure Square app. Also take note that when you enter in credit card data — whether during a sale or saving a card on file, the full number isn’t viewable to your or your staff once it’s entered in the system.

Securely saving customer card data is vital to your financial protection as a business and prevents very costly fraudulent risks. For more about Square’s security, check out our related post, Is Square A Secure Way To Accept Credit Card Payments?

Gift Cards

6 Free Square Tools To Make Running Your Small Business Easier (6)

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Gift cards may not be the first thing you think of when it comes to business tools, but here are some pretty neat statistics for you: In a 2018 press release, First Data shares a study that found that consumers, on average, spend $59 over the original value of the gift card they receive. Not only that, but shoppers plan to spend 55% of their annual gifting budget on gift cards. That is no small potato when it comes to amping up your revenue.

If I’ve piqued your interest, I have some more good news. Square’s digital gift cards are completely free for you to sell. If you want to offer physical gift cards, you could start with a stock of 20 for $40 or opt for higher quantities with a significantly lower cost with each tier. When your customer pays for the gift card using a credit or debit card, standard processing fees will apply. (There’s no charge for payments made with cash.) When it comes time for the gift recipient to spend with you, you won’t face any additional costs. Square treats this transaction like cash, and they only deduct the amount of the sale from the card. And it’s great that you don’t need to pay any monthly fees to accept gift cards — you just pay the cost of the physical cards (if you want them) and any associated payment processing when purchased.

Invoicing & Installments

6 Free Square Tools To Make Running Your Small Business Easier (7)

When it comes to invoicing clients, Square makes it pretty easy. First, you can send an unlimited amount of professional-looking invoices for free. And instead of your customer having to call you with their number or waiting for a paper check, they follow the prompts and pay securely online. You can also send files, images, contracts, or attach information along with the invoice.

If you sell larger ticket items and want to finance your customers, you may also be interested in Square Installments. With this service, you can let your customer pay over time, while getting all of the funds upfront from Square. That’s because Square takes the risk by checking their credit and approving or denying the purchase. To find out more about letting your customers pay by installments, check out How Does Customer Financing With Square Installments Work?

If you want to assume more of the risk or set up a layaway program, however, you can also send out a regular invoice to request a down payment or partial payment as well. There is simply a lot of flexibility afforded with invoicing and installments. Read our Square Invoices Review to find out more about this tool and how to use it for your business.

Virtual Terminal

6 Free Square Tools To Make Running Your Small Business Easier (8)

Don’t have a card reader handy? Does a customer want to pay over the phone? You can accept payments securely at your own computer when you log into Square dashboard and go to your Virtual Terminal. There are many scenarios when taking payments at your virtual terminal can empower your business model — and it makes for a great backup if other devices are misbehaving.

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In any case, you can still take payments quickly via Square’s Virtual Terminal. You can manually enter in the credit card information, or you can pull up a customer in your directory and charge a card you have saved on file. If you have a Mac or Chromebook, you can still connect a basic magstripe reader and swipe the card at your computer, too!

Square charges no software fees to use the virtual terminal and it’s included with all free Square accounts, but you will still have to pay transaction costs. With keyed entry, you’ll pay 3.5% + $0.15 per transaction, or 2.75% for swipe transactions.

Square Card

6 Free Square Tools To Make Running Your Small Business Easier (9)

At first glance, the Square Card may seem like just another line of credit, but it isn’t. The Square Card is a debit card that gives you instant access to any of the funds that are in your Square account in real time. So why are so many business owners stoked about the Square Card? For one, it can help manage and organize cash flow. One way to separate business expenses from everything else is to keep all of your business expenses on your Square Card. It makes sense because you’ll also always have an itemized list of exactly what you spent at the Square app under “Card Spend.”

Keep in mind that once you get the ball rolling with your Square Card, your funds are automatically going to sit in your Square balance unless you manually transfer funds into a different account. You can do so at any time and Square will deposit funds in the next 1-2 business days. If you want your funds deposited into your main bank account faster, you can also opt for a same-day instant deposit for the fee of 1% of the total amount.

When it comes time to spend your balance, the Square Card is a debit card accepted at any merchant that takes Mastercard. As far as cost, the Square Card is completely free with no annual or usage fees whatsoever. The other cool bonus is that you get a 2.75% discount at all other Square merchant locations. If you have a Square account, you can request your free Square Card under Deposits at the Square Dashboard. Note that Square doesn’t automatically send you a card when you open your account.

Is Square Right For You?

6 Free Square Tools To Make Running Your Small Business Easier (10)

There is no doubt that Square offers an abundance of tools and add-on software apps that can help you run your business more efficiently. Utilizing inventory management tools can help you stay on top of the ebb and flow of demand, and payment processing options offer flexibility when you need it.

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We’ve only scratched the surface when it comes to Square’s tools because there are many layers to Square’s solutions. Check out our Square Review to get even more details about features and pricing so you can make the decision that’s right for you. You can also set up a free Square account and play around in the dashboard and check out the tools yourself.

FAQs

What tools do you need for business? ›

List of 17 Best Business Tools you Must Explore:
  • Document management tools.
  • Project management tools.
  • Meeting apps.
  • Communication apps.
  • Whiteboard tools.
  • Marketing tools.
  • Finance tools.
  • Outsourcing tools.

What is the most useful business tool? ›

The Top 10 Tech Tools for Small Businesses in 2022
  1. Project Management Tools. ...
  2. E-Signature Tools. ...
  3. Email Marketing. ...
  4. Customer Relationship Management (CRM) ...
  5. HR Management. ...
  6. Accounting Software. ...
  7. Communication and Collaboration. ...
  8. Password Management Tools.
21 Oct 2022

Which software is used for business? ›

Common types of business software
  • word processing programs.
  • accounts software.
  • billing software.
  • payroll software.
  • database software.
  • asset management software.
  • desktop publishing programs.

Which software is best for accounting? ›

The 5 Best Accounting Software for Small Businesses of 2022
  • Best Overall: QuickBooks Online.
  • Best for Micro-Business Owners: Xero.
  • Best for Service-Based Businesses: FreshBooks.
  • Best for Part-Time Freelancers: QuickBooks Self-Employed.
  • Best Free Software: Wave.

Why are tools important in business? ›

Technological business tools also help employees better cooperate, collaborate, and communicate. Products and services will also have better testing phases, meaning employees working on a particular task have much more tools at their disposal to deliver their best work possible.

What tools do I need for an online business? ›

The best business tools for entrepreneurs running businesses from home
  • WordPress.
  • Shopify.
  • Webflow.
  • FreshBooks.
  • Zoho Invoice.
  • Salesforce.
  • Unbounce.
  • Google AdWords.
9 Mar 2022

What services do small business owners use? ›

10 Small Business Functions That Can Be Easily Outsourced
  • Accounting. Accounting is one of the most common areas where small businesses choose to outsource. ...
  • Marketing. ...
  • Sales. ...
  • IT Management. ...
  • Administrative Tasks. ...
  • Customer Service. ...
  • Manufacturing. ...
  • Shipping and Logistics.
19 Nov 2019

What are 10 small businesses? ›

Top 10 Startup and Small Business Ideas to Try in 2022
  • Cleaning service. Consider starting a cleaning business if you don't mind doing the dirty work others cannot do for themselves. ...
  • Freelance Writing Business. ...
  • Amazon Kindle Publishing. ...
  • Daycare. ...
  • Pet Grooming. ...
  • Aerial Photography. ...
  • Build and Sell Themes Online. ...
  • Blogging.

Which software is most important? ›

An operating system is the most important software that runs on a computer. It manages the computer's memory and processes, as well as all of its software and hardware. It also allows you to communicate with the computer without knowing how to speak the computer's language.

What technology is used in business? ›

Business technology is any electronic object or system that helps employees accomplish tasks. The technology that employees use includes computers, internet systems, printers, mobile devices and software applications that help them organize and prioritize work.

How do I set up a small business account? ›

How to Set Up a Small Business Bookkeeping System
  1. Choose Cash or Accrual Accounting. ...
  2. Set Up a Business Bank Account. ...
  3. Pick a Bookkeeping Software Package for Small Businesses. ...
  4. Create a Chart of Accounts. ...
  5. Set Up an Expense Tracking System. ...
  6. Prepare Your Bank Reconciliation Process. ...
  7. Set Up Your Financial Reporting System.
30 Apr 2019

Do I need an accountant if I use QuickBooks? ›

Even if you manage your money using QuickBooks, it's worth having your tax return checked and approved by an accounting expert. If you have a more complicated business structure, such as a limited company, it's rarely advisable to do your own tax return, given the detailed knowledge required.

How can productivity tools help you to begin a business? ›

Productivity tools help automate those pesky routine (but necessary) tasks. They also enable collaboration and can reduce bottlenecks by allowing team members beyond the CEO to take on and check off tasks.

What is a productivity tool and how do these tools help you? ›

Productivity and efficiency are important factors that enable businesses to be better every day and provide better service, resulting in more satisfied customers. Productivity tools help you set goals, assign tasks, track progress, create reports, and communicate with employees in real time.

Why is knowledge and skills in using productivity tools important? ›

Improve the quality of work:

Productivity and efficiency are significant factors that allow companies to be better every day and provide a better service, so more happy customers. Productivity tools make it easier to set goals, assign tasks, track progress, create reports, and communicate with employees in real-time.

What are the 5 most used tools in business management and how are they used? ›

Value for money is also important and all these tools are going to be worth the money spent on them.
  • Lightspeed for inventory management tool. ...
  • Trello for team collaboration and communication. ...
  • Hubspot for marketing. ...
  • nTask for smaller businesses and entrepreneurs.
24 Mar 2022

What are the five tools or components of business functions? ›

The principal business functions in a business firm are:
  • Marketing and sales.
  • Production.
  • Accounting and finance.
  • Human resources.

What tools would support you best when planning a task Please list at least 3 different tools? ›

Best Project Planning Tools
  • monday.com.
  • Wrike.
  • ClickUp.
  • Smartsheet.
  • Teamwork.
  • Zoho Projects.
  • ProjectManager.
  • Teamweek.
29 Sept 2022

How small businesses entrepreneurs can use online tools to create and grow their businesses? ›

The Top 40+ Online Business Tools Used by Entrepreneurs
  • Social Media Marketing & Management.
  • Graphic Design.
  • Landing Pages & Email List Building.
  • Email Marketing & CRM.
  • Project Management & File Sharing.
  • Communication & Scheduling.
  • Webinars.
  • Finance & Payment Processing.
7 Jan 2019

What is the meaning of business tools? ›

Business management tools are all the systems, applications, controls, calculating solutions, methodologies, etc. used by organizations to be able to cope with changing markets, ensure a competitive position in them and improve business performance.

What are the online tools? ›

Online Communication Tools
  • Zoom.
  • MS Teams.
  • Skype.
  • Google Meet.
19 Oct 2022

What do small businesses need the most? ›

10 Things Every Small Business Needs To Do
  • You need to manage your cash. ...
  • You need to develop a data-based culture. ...
  • You need to engage in Lean Planning. ...
  • You need to understand your margins on all your products and services. ...
  • You need to have a strategy for recruiting and retaining talent.

What apps do small businesses need? ›

Best small business apps in 2022 in full:
  • Microsoft 365. The best office software app. ...
  • RingCentral MVP. Best business phone system app. ...
  • FreshBooks. Best accounting software app. ...
  • Avast Business Antivirus. Best mobile antivirus app. ...
  • PayPal. Best online payments app. ...
  • Hubspot Marketing Hub. Best sales and marketing app. ...
  • Asana. ...
  • IDrive.
13 Sept 2022

What solutions do small businesses need? ›

10 Must-Have Technologies for Small Businesses
  • Customer Relationship Management (CRM) Whatever type of business you run, its success relies on customers. ...
  • Payment Processing System. ...
  • Cybersecurity Solution. ...
  • Project Management Platform. ...
  • Inventory Management Software. ...
  • Social Media. ...
  • Business Website. ...
  • Location-Based Technology.

Which business is best for beginners? ›

Best Small Business Ideas
  1. Handyman. Image Source. ...
  2. Woodworker. ...
  3. Online Dating Consultant. ...
  4. Sewing and Alteration Specialist. ...
  5. Freelance Developer. ...
  6. Personal Trainer. ...
  7. Freelance Graphic Designer. ...
  8. Life/ Career Coach.
21 Oct 2022

What makes a good business idea? ›

New product, service or invention. Innovative solution to an every day problem. An interest or hobby that can be monetised. Utilised skills you've learned in your career.

How can I start my own business with no money? ›

Tips to Start a Business Without Money
  1. Establish a sole proprietorship business. You should first establish your business for it to be legally valid. ...
  2. Apply for Government Schemes. The government has launched many government schemes for startups and small businesses. ...
  3. Prepare a Business Plan. ...
  4. Sell on e-commerce platforms.
10 Jun 2022

How do I start my own business operating system? ›

How to create a business operating system
  1. Develop processes. Processes are manual and social checklists for how a business completes a task. ...
  2. Establish systems. Systems define the technical aspects of how a company completes a task. ...
  3. Define roles. ...
  4. Align skills with roles. ...
  5. Create an overall structure.
8 Mar 2021

What makes a good business management system? ›

An effective Business Management System is a deliberately integrated set of management processes and tools that help align the company strategy and annual objectives with daily actions, monitor performance and trigger corrective actions.

What operating system do I have? ›

Click the Start or Windows button (usually in the lower-left corner of your computer screen). Right-click Computer and choose Properties from the menu. The resulting screen shows the Windows version.

What is data base software? ›

What is database software? Database software is used to create, edit, and maintain database files and records, enabling easier file and record creation, data entry, data editing, updating, and reporting. The software also handles data storage, backup and reporting, multi-access control, and security.

What is meant by an operating system? ›

An operating system (OS) is the program that, after being initially loaded into the computer by a boot program, manages all of the other application programs in a computer. The application programs make use of the operating system by making requests for services through a defined application program interface (API).

Which technologies would best help a company improve process efficiency? ›

4 Technologies that Accelerate Process improvement
  • Process Mining.
  • Robotic Process Automation (RPA)
  • Business Process Management (BPM) and Business Process Automation (BPA)
  • Data Extraction.
  • Further Reading.
9 Mar 2022

What is business analytics in simple words? ›

Specifically, business analytics refers to: Taking in and processing historical business data. Analyzing that data to identify trends, patterns, and root causes. Making data-driven business decisions based on those insights.

What are two advantages of being an entrepreneur? ›

There are many reasons to consider entrepreneurship, from its freedom and flexibility to the job satisfaction it can offer.
  • Be your own boss. ...
  • Potentially unlimited income. ...
  • Choose when and where you work. ...
  • Make a living doing what you love. ...
  • Constant growth and development. ...
  • Choose who you work with. ...
  • Create a positive impact.
7 Nov 2021

What are basic bookkeeping skills? ›

15 good bookkeeper skills to develop in your career
  • Attention to detail. Attention to detail helps bookkeepers be accurate when handling their company's financial data. ...
  • Invoicing. ...
  • Critical thinking. ...
  • Organization. ...
  • Excellent communication. ...
  • Accounts payable. ...
  • Numeracy. ...
  • Time management.
11 Aug 2021

Can I teach myself bookkeeping? ›

Yes, you can teach yourself bookkeeping.

There are many quality resources online that a person can use to learn all the necessary skills and knowledge to become a bookkeeper. It is important to take courses that teach both basic bookkeeping and higher-level accounting.

How do small businesses keep track of finances? ›

How to track your small business expenses
  1. Step 1: Open a business bank account. ...
  2. Step 2: Choose an appropriate accounting system. ...
  3. Step 3: Choose cash or accrual accounting. ...
  4. Step 4: Connect your financial institutions. ...
  5. Step 5: Begin managing receipts properly. ...
  6. Step 6: Record all expenses promptly.
18 May 2022

How do you maintain a small business ledger? ›

Each general ledger entry should have:
  1. An account number (if applicable)
  2. Account name.
  3. Beginning account balance.
  4. Transaction type.
  5. Customer, vendor, and employee name (if applicable)
  6. Date.
  7. Description.
  8. Debit and credit columns.
21 Oct 2022

How do small businesses keep records? ›

Best Practices for Small Business Record-Keeping
  1. Implement a document management system. ...
  2. Check for record retention mandates. ...
  3. Choose accounting and payroll software that generate records. ...
  4. Match records to transactions during bank reconciliations. ...
  5. Back up and secure your records.
18 May 2022

How quickly can I learn QuickBooks? ›

QuickBooks certification can take as little as 2-3 weeks. Intuit QuickBooks training offers two-day live online or self-paced instruction. These include a study guide, practice test, and exam voucher.

Do real accountants use QuickBooks? ›

Accountants use QuickBooks. CPAs use QuickBooks. Payroll managers use QuickBooks. The software is trusted by millions because it's powerful and versatile, but it's only as good as the person pulling the strings.

Why do accountants not like QuickBooks Online? ›

QBO doesn't offer the features you need.

This is its own number because this is such a common rejection of the software. As mentioned QBO is not built to handle everything. Construction accounting, job costing, and inventory management are several common limitations. The apps were designed for this purpose.

What do small business owners want? ›

Business owners are a simple bunch. They want to know how to make more money, cut costs of doing business, avoid taxes, avoid expensive lawsuits, find new opportunities to do business and find inexpensive ways to fund business growth.

What are 10 small businesses? ›

Top 10 Startup and Small Business Ideas to Try in 2022
  • Cleaning service. Consider starting a cleaning business if you don't mind doing the dirty work others cannot do for themselves. ...
  • Freelance Writing Business. ...
  • Amazon Kindle Publishing. ...
  • Daycare. ...
  • Pet Grooming. ...
  • Aerial Photography. ...
  • Build and Sell Themes Online. ...
  • Blogging.

What are the tools equipment? ›

A tool can be any item that is used to achieve a goal. Equipment usually denotes a set of tools that are used to achieve a specific objective. A tool can be non-mechanical as well. However, when one says equipment, there is a certain mechanical aspect to it that cannot be ignored.

What is equipment in business plan? ›

Production machinery and equipment: This refers to the machines and equipment necessary to make the product or complete the service. For the soap-making example, list the equipment, tools, and machinery you will need to make 960 bars of bath soap.

How do you successfully manage a small business? ›

5.7 How to Succeed in Managing a Business
  1. Know your business. ...
  2. Know the basics of business management. ...
  3. Have the proper attitude. ...
  4. Get adequate funding. ...
  5. Manage your money effectively. ...
  6. Manage your time efficiently. ...
  7. Know how to manage people. ...
  8. Satisfy your customers.

How do you start a business plan? ›

Traditional business plans use some combination of these nine sections.
  1. Executive summary. Briefly tell your reader what your company is and why it will be successful. ...
  2. Company description. ...
  3. Market analysis. ...
  4. Organization and management. ...
  5. Service or product line. ...
  6. Marketing and sales. ...
  7. Funding request. ...
  8. Financial projections.

How can I start my own business with no money? ›

Tips to Start a Business Without Money
  1. Establish a sole proprietorship business. You should first establish your business for it to be legally valid. ...
  2. Apply for Government Schemes. The government has launched many government schemes for startups and small businesses. ...
  3. Prepare a Business Plan. ...
  4. Sell on e-commerce platforms.
10 Jun 2022

What are the example of tools? ›

Some examples of tools that are often used today are the hammer, the wrench (also called a spanner), saws, shovel, telephone, and the computer. Very basic things like knives, pens, and pencils are also tools. The bludgeon (a stick or rock used as a weapon to smash things) was one of the first tools made by humans.

Why do you need to use proper tools equipment and materials? ›

Each tool is precisely designed for a specific purpose, so choosing the correct tool will also decrease the amount of effort required to get a job done right without causing damage to either the equipment or the surface being worked on. Many construction accidents can be prevented by taking the time to plan ahead.

How many types of tools are there? ›

The two main tool categories are power and hand tools.

What is the most important part of a business plan? ›

The executive summary is arguably the most important section of the business plan. It must be concise, specific, and well-written. Many of the people who review your business plan will decide, based solely on the executive summary, whether to continue reading.

What is a full business plan? ›

A business plan is an essential written document that provides a description and overview of your company's future. All businesses should have a business plan. The plan should explain your business strategy and your key goals to get from where you are now to where you want to be in the future.

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