Technology: you love to hate it. If you’re a small business owner, you also can’t succeed without it. The right technology updates for your small business can allow you to thrive and to turn profits like never before. That tech can be expensive, though, so you need to know which improvements can offer the most return on investment. So before you begin updating tech for your small business, be sure to ask yourself some questions like the ones below.
How Effective Are Your Payment Processing Systems?
There are some tech experiences that customers have come to expect from small businesses. One such experience is a fast and secure checkout, which can help increase profits for your business, but some payment processing options can help smooth out other operations as well. With these more advanced tools, platforms, and hardware, you can also track and manage payments. Plus, most modern checkout systems also allow for mobile payments, which can be a secure and simple way to net more sales from customers. So, make certain that you have the right payment processing tools and tech in place to drive your sales and make managing operations easier.
Do You Have the Right Smartphone to Manage Your Business Anywhere?
Every small business owner needs a quality smartphone to run their business-related apps effectively, as well as easily handle communications like sending emails and making video calls. Many reliable phones available in today’s market come with different price points and their own set of features. Do some research to find a phone that will provide you with the features you need. If you prefer an iPhone, the latest models are fast and powerful, have machine-learning ability, and have a battery that can last over 20 hours. If you’re an Android user, the Samsung Galaxy S10 has fast performance and solid battery life.
Has Your Small Business Fully Embraced Cloud Services?
Unless you’ve been living under a rock, you’ve likely used iCloud or DopBox to store files and songs in the cloud. What you may not realize, however, is that there are several cloud services that can benefit other areas of your small business operations. Beyond just storage, cloud-based services can simplify task management, automate customer communications and create ecommerce options for your business. Most services offer free or low-cost packages that can help small businesses get started. If you find the services beneficial for your operations and sales, you can also look for funding options to help cover more advanced packages and keep these cloud services working for your business goals.
Are You Addressing Data Privacy and Preventing Breaches?
Some tech upgrades can boost your sales, while others can transform your operations. There are some tech upgrades, however, that extend beyond perks. For example, too many small business owners think they are immune from the impacts of data breaches. According to Kaspersky, though, cyber incidents involving your small to medium-sized small business could cost you up to $120,000. That’s enough to sink many small businesses, which is why you simply cannot afford to ignore digital security. To prevent data breaches, you may need to invest in new software, network enhancements, staff training and other updates. These investments may not increase your profits, but they will definitely decrease your risk for costly data breaches.
Could Tech Updates Make It Easier For You to Take Time Off?
Life as a small business owner is always busy. Even if you are the sole operator and employee of your small business, though, you still need time away. Vacations and breaks can seem like a luxury when you are working towards success, but taking time off can actually help drive your long-term success. You will come back from those breaks less stressed and more productive, and you can enhance your delegation tasks by leaving instructions for your employees to keep operations running. So how can tech play a part in this much needed downtime? Well, you can take a clue from businesses that are finding ways to attract hires with tech by using those upgrades to streamline workflows, getting more done in less time. So even if that tech seems expensive, the ROI for your well-being is worth it.
If you want to remain competitive with other small businesses, you have to invest in tech. Not only can technology help your profits, but it can also protect the very core of your small business. Just don’t make the mistake of thinking your business can survive without the right tech!