The desire to get ahead in the business world is likely one of the reasons that you became an entrepreneur in the first place. For that reason, it’s probable that you aren’t the type to sit around, stand pat and simply let your company marinate without looking to improve things at every opportunity. And, considering the age in which we live, technology has made it very easy to implement all kinds of innovations for your business. Really the only thing that’s limiting you from change is your imagination for what your business can be.
But that doesn’t mean that technology is always a good thing. For example, you have probably read by now about the wonders of cryptocurrency, and how people are getting rich by investing in it, often through the means of clever trading programs in the vein of Bitcoin Loophole. But is it a good fit for your business just because it is an ingenious addition to the financial world? And that’s the kind of question you should be asking yourself no matter what kind of technology comes down the pike. New doesn’t always mean better, after all.
Considering the Customers
If you’ve seen it once, you’ve seen it a thousand times: that business that underwent wholesale changes and lost touch with the customer service that helped build their brand in the first place. How many times have you heard somebody say, “That place used to be so great?” Most of the time, they are saying that because a lot of ill-advised technological changes were brought to bear without any consideration for the bigger picture and how it would all fit into it.
If It Ain’t Broke…
This adage can admittedly be a dangerous one for businesses because complacency can be a company killer. But you shouldn’t look for a technological upgrade unless you can first identify the ways in which it will improve your business. A new computer system with touch screens can be a boon, but not if your employees can’t get the hang of using it. Again, this isn’t to say that you shouldn’t go ahead with some new technological doodads and gadgets. Just make sure it’s preceded by forethought.
Finding the Flaws
Where your technological focus should be as a businessowner is in areas where your business might be lacking or inefficient. If, for example, your efforts to collect accounts payable are often resulting in delays, it might be time to look into a streamlined system for notifying these laggard accounts. That’s an example of a technological endeavor that is to the point and designed to shore up a weakness. It can be a good strategy to deal from a position of strength when considering your technological upgrades, but problem areas should always get your attention first before you consider anything else.
Technology is a tool that every business owner should utilize when it is needed. But if it isn’t utilized with discretion, it can do more harm than good.