Building Technology Strategy for Small Businesses

With the advent of the Internet revolution, technology is no longer an auxiliary function, but has become an engine of growth for enterprises of all industries and sizes. It is difficult for small enterprises in non-technological sectors to formulate a technology strategy, but most do not even have one. Not only do these companies lack money, they have little or no internal capabilities and limited access to expert advice on technology. The lack of an effective technology strategy can deplete a company’s resources, alienate it from its competitors, or even cease to exist. This article provides basic advice for small business owners on where to start. Here are some factors to consider when developing an effective technology strategy.

Legal and state compliance

Planning for technology to ensure that businesses comply with the law and the government is paramount. The last thing a business wants to do is to take a break from its core business and go bankrupt because of the conflict. For example, in the restaurant business should be planned technology taking into account sales tax, compliance with PCI requirements, employee schedules, etc.

Core activity and customer experience

Next is technology that provides core business and customer satisfaction. These are the ones that directly generate revenue, and these are the services that customers pay for. This is the area where business needs to plan and distribute money correctly. For example, in order for a catering business to be successful, it must have the right technology for customer orders, kitchen processing and maintenance. If customers do not receive what they ordered, or are late, it will affect the business of the restaurant. Providing free Wi-Fi can help improve customer service.

Marketing and digital reputation

If a business has to attract customers, it must not only advertise its existence to customers, but also be constantly proud to be one step ahead of the competition. Effective marketing is a very important factor for the success of any business. In today’s Internet-oriented world, most customers are exploring a service or product online before buying them. This makes it very important for every business to have and maintain a good digital reputation online. That’s what the business should plan and allocate the right funds next time. For example, a catering company might want to have a website that informs customers about the restaurant and menu. For digital marketing and reputation, it needs to actively build up and maintain a presence on social platforms such as Facebook, Twitter, Yelp, etc. .

Operational efficiency and performance

The next thing to consider is planning for technologies to improve operational efficiency and efficiency. Investing in technology to improve operational efficiency can help reduce costs, reduce waste, and significantly improve business performance. If efficiency savings outweigh the cost of technology, investments in it pay off. For example, for catering companies, inventory and materials planning technology can significantly reduce inventory and product spoiling costs, instantly increasing profitability.

Insouring, outsourcing or cloud

Once you’ve figured out what you want, it’s time to start planning how to get those opportunities. Most small enterprises that are not involved in technology have little or no internal potential, and hiring staff for non-core enterprises can hole in their pockets. Thus, if the company does not have employees with technological skills, internalization may not be a good strategy. Most of the best technologies, platforms and software are now widely available in the cloud and should be considered first.

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