Every day new advancements and innovations are made in the ever-changing digital world that is technology. These modifications contribute towards making our lives more convenient and businesses operate smoother while embracing and acclimatizing to them. Entrepreneurs have no choice but to understand the technological advancements and how they affect small businesses. Small Business Owners who fall behind on adopting the latest technology lose their competitive edge and as a result lag behind their competition.
Incorporation of technology in day-to-day operations increases confidence in the state of the business as it leaves management to focus their resources on other activities, like making more money.
6 Areas in which Technology can be leveraged to Improve Small Businesses
1. Productivity
As a business owner starting a small business, one needs to juggle many roles before getting to a point where you have a team to delegate the tasks to. Often, one is a marketing manager, HR executive, Finance Manager and Social Media Manager etc. and it is an unnerving task for a single individual to accomplish within a limited amount of time. Nevertheless, using time management and productivity practices help manage multiple roles effectively while achieving visible results.
Something as simple as Google Calendar, Google Workspace for document management, Virtual Personal Assistants and other to-do lists can make a world of difference along with the numerous time-tracking apps, and productivity tools at your disposal.
2. Payment
Customers opt for payment methods that are most convenient to them and businesses which offer flexibility to choose their desired payment method, have an edge to those without. Kenya has an added advantage when it comes to contactless payment since we have MPESA and other mobile payment options available easily.
Aside from offering convenience, mobile payments increase the speed of transactions and consequently increases the volume of transactions as a result. Some additional online payment options to look into integrating are PayPal and Visa etc. Stay competitive with bigger businesses in your industry by being more flexible with mobile payments.
3. Marketing
Now more than ever the need for marketing cannot be overstated. From social media to traditional marketing tactics, honing your marketing skills is directly proportional to the growth and success of your business. One of the most powerful, simple and overlooked marketing tools is a website. Building a website gives an atomic view of your company or business at a glance and reaches out to customers who are located outside of your nearby location. This helps garner more coverage for direct marketing and establishing an indirect connection with your audience thereby promoting the business.
4. Collaboration
Telecommuting is gaining traction as a recurring theme in the digital age. The current global climate we are facing has a part to do with it but with more and more companies are choosing to adopt a partially distributed team model which allows for cutting down on some expenses. The rise of online collaboration tools such as Microsoft Teams and Slack and the thriving freelance market more and more employees are opting to work remotely.
To assess whether or not this could apply to your business, ask yourself if entire functions can be done from home. If the answer is yes then think through which collaboration technology you require to support your remote employees.
5. Customer Service
Technology is a great tool for keeping touch with employees and customers because it is unparalleled when it comes to connectivity. With tools such as live chats and social media at your fingertips, you can create an online customer service which assists in dealing with queries from your customers.
Social media gives any entrepreneur real-time access to their consumers which allows for engagement as well as maintaining contact and receiving feedback from customers. Social media is great for attracting and connecting to new customers and converting them into leads.
6. Telecommuting
With effective technology in place, owners can save time and money by holding meetings over the internet as opposed to offices. Free time to manage the businesses operations efficiently.
Countless small businesses now have the benefit of operating with no physical location. While this seems like a luxury only afforded to sole entrepreneurs and freelancers, thanks to advancements in technology, companies with multiple employees can do the same. Such environments require organizational tools to help manage the workload and assign tasks, showing which person is responsible for which tasks and when they are due as well as who is working on which projects. Project management software such as Trello has made project management within companies much easier and run smoother.
Conclusion
Technology in the year 2020 is not only a necessity but a way of life, you need to be conversant with technology to scale your small business to new heights. Technology can act as a competitive edge to open up opportunities and enhance your small business skills as it is economical, cost-effective, simple to use, and convenient for most small businesses. Investing in technology is investing in the future of your business.
Comentarios