We are living in a world that’s highly dependant on technology. Everything we do, from our work to our entertainment is dependant on technology. This is especially true when it comes to managing our business.
But when it comes to the backend development and structure, we hardly know much about technology.
Don’t you think that has to change?
If you plan on continue using technology in your daily life or for your business, here are some things you should know about:
Not All Technology is Good or Bad
Just like there are good and bad people, there is good and bad in technology. It mostly depends on the people behind it. While some tech is developed to improve our efficiency, there are some developed for the personal gain of a few.
As we increase our dependency on technology, there is going to be an increase in data breaches and privacy attacks. Learn the basics of securing your privacy online to prevent being misused.
You should install security protocols for your business to avoid being scammed by hackers. Train your employees also. The effect of hacking can be disastrous on business, especially when it comes to building trust among customers.
No New Invention is created in a bubble
There are no Thomas Edison in the tech world. Most developers working in the tech industry depend on each other’s work. Hotmail was developed after the world wide web and email were married together. It’s the same with most other programs and websites you see online. Even Facebook.
You might have heard of Mark Zuckerberg only, but know that there was an entire team involved. And even then his idea wouldn’t have been possible, was it not for the work of others working on similar projects.
As a small business, you should keep your eyes and ears open for even the smallest development. Think of how any new development is going to affect your business. Be ready to adapt to these changes.
Business cannot avoid technology
If you want your business to remain in the market in the next five years, you will adapt to technology. This doesn’t mean just an online presence (even though that’s very vital nowadays), but it also means database, referrals systems and all that.
Think of the smallest business. A lemonade stand. Even those need technology at some point. Maybe to research the best recipes, or to search for cheap suppliers or just to create a poster for their stand.
This means that as a business you should ensure that you and your employees are equipped with the basic knowledge of technology. It’s not just about operating the technology, but keeping abreast of any changes. Plus, you should know how to troubleshoot any tech issues, if you face any. I depend on TechLoris for all tech issues. They have a complete database of solutions of all kinds of PC issues and it has helped me through quite a lot.
Tech Creators don’t usually fund their own start-ups
They have crowdfunding for that. Gone are the days when new business owners put all their capital in their breakthroughs, only to end up bankrupt. Smart people don’t do that now.
They pitch their ideas to a group of investors. These investors determine whether the idea is worth investing in. If they see something potential, they go forward with the investment.
The reason why business owners depend on crowdfunding is because start-ups need money in order to cut through the competitive tech industry and get noticed.
They use the funds to market their idea to potential customers. Get them excited about the idea. Once the business takes off, their either sell the idea to their competitor or buy off the competitor.
Tech World Is Extremely Volatile
What is popular today might not be popular in the next few years. Remember, once Problogger was the leader of social media, but now it’s almost dead. Don’t depend on one technology for your business. Spread your business out on multiple platforms.
We would recommend finding a way to connect with your customers if one platform was to go kaput one fine day. For example, what if Facebook was to delete your business page or maybe Facebook is down for a day. How are you going to connect with your customers? Remember, Instagram is part of Facebook. Most digital marketers recommend building an email list.
The average user is not tech savvy
And you can’t do anything about it. So, even if you train your employees to adapt technology, remember that your consumers might not be catching up at the same pace. That’s why be prepared to break everything down to their level.
Adapt technology on the same pace as your target customers. And when you do, offer a little bit of training and help to get them acclimated to any new changes you make.