- Technological Transitions are Stressful
- 4 Indicators that a Tech Update is Needed
- 5 Smart Technological Investments
- Growing at the Pace of Innovation
Technological Transitions are Stressful
These days, technology and business are deeply interconnected. For that reason, transitions can be extraordinarily difficult. Small companies can be especially vulnerable to business continuity issues, especially since resources are often limited. Deciding the ideal time to transition is often confusing. It’s easy to procrastinate.
Is your current environment holding you back? What tools are accessible, affordable, intuitive, and contain the innovative edge to help you grow your business?
4 Indicators that a Tech Update is Needed
“Most of the time, small business owners look for ways that they can grow their businesses,” commented business consultant Larry Alton, “and, at the same time, take a hands-off approach that lets them spend more time with their families.”
Alton hints that part of our fascination with technology is that it is automated. It allows for passive income. If we set ourselves up correctly with technology, we can make money in our sleep.
Unfortunately, most of us don’t make money in our sleep, though â€“ in part because we are using outdated equipment and software. We need to change. What are some indicators that it’s time for a transition?
- It matters where you are.
Most people need to have face-to-face meetings at times, and certain aspects of your work may be physical. However, you should be able to do most work from anywhere because of the rise of the third platform of computing â€“ big data, cloud (#3), social (#2), and mobile.
- Social media freaks you out.
Do Facebook, Twitter, Google+, Tumblr, Instagram, LinkedIn, and Pinterest seem impossible to manage?
If keeping up with social media seems too time-consuming, said Alton, you can look into the hundreds of social monitoring apps that are specifically designed to make that part of business simple.
- You can outgrow your technology.
One of the advantages of new technological innovations is scalability. Tech is no longer like a child’s wardrobe that has to be continually replaced as your kid grows bigger. Get tech solutions that adapt to your demand â€“ cloud services.
- You obsess over affordability.
We all have to meet a budget. However, it’s apparent in just about any product or service that you buy: quality is generally built into higher prices.
“Since small business owners wear so many hats,” noted Digity VP Keith Tanaka, “they may not have the time to learn and think strategically about technology.”
While that is understandable, you don’t want to miss out on any competitive advantage you may experience by resolving any of the above issues.
5 Smart Technological Investments
Is technology not your thing? That’s not a problem. You can just hire someone. You don’t need to have a tech pro on staff. Outsourcing is easier than ever these days, with cloud providers offering all types of solutions â€“ software, platforms, and infrastructure â€“ “as a service,” ie, immediately accessible online.
Regardless how you manage technology, here are six wise investments:
- Cloud services
More and more, cloud is becoming the dominant technological model. It was predicted to grow to $121 billion in 2015, an astonishing 26% compound annual growth rate since 2010, when the market was worth $37 billion.
It is a good idea to adopt new technology as it is emerging or just as it matures, when it still offers a competitive advantage. You don’t want to be in a position where you wait and scramble to adopt it, feeling that you have fallen behind.
“The cloud not only does a better job of protecting your data,” Alton argued, “but it also offers more flexible project management and increased control.”
- Responsive design
This may sound obvious to some, but you need your website to respond automatically to parameters of any computer, tablet, or phone. Most businesses have figured this out and made the adjustment; but if you haven’t yet, it’s critical. Without it, what techies call the user experience (UX) of your mobile audience will suffer. Along these lines, consider delivering your message through a mobile app: Americans now spend more time on mobile apps than they do on PCs.
- Social tools
Keeping track of social media isn’t easy. Luckily various apps can help you (or whomever you put in charge of social) stay up-to-date with everything.
You want to incorporate mobile into your business as much as you can. If you purchase tablets and smart phones, you can better systematize everything and improve your security. However, many businesses prefer “bring your own device” for affordability.
- Marketing automation
You don’t want to have to pick up the phone to get every new customer. You want them to come to you. One of the surest ways to attract attention to your business through the Internet is marketing automation, such as retargeting. For generating leads through social media platforms, optimization software such as the LinkedIn automation tool or alternative tools could be beneficial. In other regards, it might assist in time efficiency, wide and highly targeted campaign outreach, and much more. In other regards, it might assist in time efficiency, wide and highly targeted campaign outreach, and much more. If you plan to venture into Instagram and Facebook marketing, you may have to generate followers to see any results, and for that, you can buy IG followers to aid you in promoting your business.
- Financial Management Tracking
When you first started your business, you were probably only concerned with whether you had enough money to keep it running and maintain a healthy cash flow. As your small business grows into a medium-sized or larger enterprise, you require more detailed insights into your business processes and financial performance. You could try investing in some digital currency as it seems to be the new innovation in town. If you want to know more regarding the same, type “best crypto wallet UK” and learn how to grow your business using cryptocurrencies. Simple cash flow tracking is no longer sufficient. You’ll need access to financial data to make informed decisions and improve forecasting accuracy. This is where financial management software (such as onestream), automation tools, and enterprise resource planning (ERP) solutions come in. Financial management software and ERP solutions provide the functionality required to monitor and manage the financial performance of your business.
Growing at the Pace of Innovation
Technology can give your company the extra boost it needs. First, you must recognize when a serious transition is needed â€“ as with the four elements above. Second, you want to assess the best areas for investment â€“ as with the five above technologies.
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According to Cloud Tech‘s Ted Navarro, “Infrastructure-as-a-service is … expected to grow rapidly as a platform on which businesses will host their own SaaS solutions and for other business critical infrastructure deployments.”
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By Kent Roberts