Entrepreneurs are the quintessential multitaskers. From greeting customers in the morning to closing shop at night, small business owners truly know the meaning of the famous line from the 1980s commercial, "it's time to make the donuts."
While they have the benefit of pursuing what in many cases is a lifelong dream of becoming a businessowner, entrepreneurs often struggle with fulfilling their passion in the context of managing employees, servicing customers and generating profits.
While they have a laser focus on pumping up productivity and making the most of every hour of their day, small business owners often don't have the technology expertise or, moreover, the interest in technology to know how to best use it to run their businesses efficiently.
However, other than beefing up staff, which may not be possible for a number of reasons, maximizing technology is a great way to streamline efficiencies, protect your business and grow revenues. Here are several technology options and trends for entrepreneurs to consider:
Protection is key
While small business owners strive to boost productivity, they also must make sure to protect important company and customer data. This is especially true for small businesses facing specific regulations around customer confidentiality and businesses which capture financial information. International Data Corporation reported that small- and midsized business (SMB) spending on security products is expected to exceed by $5.6 billion by this year. This means that SMB spending on security products is growing at a rate of 10-12 percent per year.
Cloud adoption soars higher
Cloud adoption continues to rise with one magazine predicting that small businesses will spend around $100 billion on cloud-based services by this year. Cloud voice systems, in particular, have become essential for companies that want to control costs, increase stability and improve productivity. With a wealth of capabilities, and the list is growing each day, these cloud-based systems make it possible for small businesses to have the most cutting-edge tools at their fingertips, often without any additional hardware or prohibitive upfront costs.
Boost your web presence
According to a recent survey conducted by Yodle, 52 percent of small businesses don't have a website. Many sources have touted that somewhere between 60 and 70 percent of consumers begin their search for local services online, which means that without a viable web presence, your potential customer base is automatically cut in half.
Be social
Small businesses are starting to realize the power of social marketing to reach customers about special promotions and other events. According to a Cox Business survey conducted last year, 52 percent of business owners are using Facebook for this purpose. Another technology that is taking off is location-based marketing. This online tool helps small businesses connect to potential customers who happen to be in a particular area. Some businesses, especially retailers and restaurants, can really benefit by using global positioning system technology to reach out and touch prospects that are nearby. This technology also can play a major role in rewarding loyal customers.
Content is king
Many customers' first impressions of any business is what they are able to find online. If your website or social media platforms are inaccurate, out dated or simply skinny on content, you're not putting your best foot forward. A good content management system can fix this with high quality, up-to-date content. Not only will this grab potential customer's attention, but search engines as well, which means a higher ranking and more traffic to your site.
While the thought of researching and purchasing new technology may seem like a daunting task, many of the aforementioned growth technologies are inexpensive and can be easily implemented by most small businesses. Even better, when maximized and used correctly, technology can more than meet the challenges of saving time and generating revenue.
While they have the benefit of pursuing what in many cases is a lifelong dream of becoming a businessowner, entrepreneurs often struggle with fulfilling their passion in the context of managing employees, servicing customers and generating profits.
While they have a laser focus on pumping up productivity and making the most of every hour of their day, small business owners often don't have the technology expertise or, moreover, the interest in technology to know how to best use it to run their businesses efficiently.
However, other than beefing up staff, which may not be possible for a number of reasons, maximizing technology is a great way to streamline efficiencies, protect your business and grow revenues. Here are several technology options and trends for entrepreneurs to consider:
Protection is key
While small business owners strive to boost productivity, they also must make sure to protect important company and customer data. This is especially true for small businesses facing specific regulations around customer confidentiality and businesses which capture financial information. International Data Corporation reported that small- and midsized business (SMB) spending on security products is expected to exceed by $5.6 billion by this year. This means that SMB spending on security products is growing at a rate of 10-12 percent per year.
Cloud adoption soars higher
Cloud adoption continues to rise with one magazine predicting that small businesses will spend around $100 billion on cloud-based services by this year. Cloud voice systems, in particular, have become essential for companies that want to control costs, increase stability and improve productivity. With a wealth of capabilities, and the list is growing each day, these cloud-based systems make it possible for small businesses to have the most cutting-edge tools at their fingertips, often without any additional hardware or prohibitive upfront costs.
Boost your web presence
According to a recent survey conducted by Yodle, 52 percent of small businesses don't have a website. Many sources have touted that somewhere between 60 and 70 percent of consumers begin their search for local services online, which means that without a viable web presence, your potential customer base is automatically cut in half.
Be social
Small businesses are starting to realize the power of social marketing to reach customers about special promotions and other events. According to a Cox Business survey conducted last year, 52 percent of business owners are using Facebook for this purpose. Another technology that is taking off is location-based marketing. This online tool helps small businesses connect to potential customers who happen to be in a particular area. Some businesses, especially retailers and restaurants, can really benefit by using global positioning system technology to reach out and touch prospects that are nearby. This technology also can play a major role in rewarding loyal customers.
Content is king
Many customers' first impressions of any business is what they are able to find online. If your website or social media platforms are inaccurate, out dated or simply skinny on content, you're not putting your best foot forward. A good content management system can fix this with high quality, up-to-date content. Not only will this grab potential customer's attention, but search engines as well, which means a higher ranking and more traffic to your site.
While the thought of researching and purchasing new technology may seem like a daunting task, many of the aforementioned growth technologies are inexpensive and can be easily implemented by most small businesses. Even better, when maximized and used correctly, technology can more than meet the challenges of saving time and generating revenue.