The Impact of Technology on Small Businesses

Technology will have a massive impact on small businesses, in order to survive the reality of embracing tech will be fundamental to doing business. 

1. Automation for small businesses

Small business owners and one man bands will need to adopt automation of technology, automatic emails sequences for new customers, diary bookings for customers, workflow solutions, form submissions, web hooks that have follow up actions. Hunt down the automation.

2. Security

Not a day goes by where I have to actively remember a password or security question. Expect the protection of your data and IT assets to become more and more significant. Hackers are after even the boring stuff of just controlling your Instagram account. Why? Because some people buy fake followers.

3. Return On Investment Marketing

More and more businesses will understand that social media is business and not just a personal activity. This will lead to the discovery that social media ads are cheap and accessible for most entrepreneurs. Scaling through ads will become a cash machine for some entrepreneurs.

4. Blended Delivery

We are all consuming more and more video everyday. Why? Because we have a high bias to visual consumption. “seeing is believing'”. More and more businesses are adopting video learning technology and consumers are viewing more and more video. Blend your one to one delivery with on line content that delivers even when you can’t.

5. Automated IT Capital Investment

More and more tech is being delivered by subscription. We no longer have to buy the expensive software and learn to use it. Its typical to trial software for free and then pay low value rental without commitment. This software will give advantage to those that don’t have huge capital to plough into bespoke software. It also avoids the ongoing headache of having to keep operational development capital flowing into software.

6. Online Customers

Tech can mean we can have virtual 1-2-1 meetings across continents. We don’t have the geographical boundaries we once had. Online customers are more valuable because they are low cost to service but they do expect to find all your solutions on line. Don’t let them down.

7. Information Versus Knowledge

The internet becomes more and more overwhelming the bigger it becomes and the more content that is released. You can find 100+ answers to the same question. Use your profile to build trust because it will help your customers find you and your solutions. You are selling your knowledge since all the information you ever needed is online you shouldn’t need a doctor, a lawyer, an accountant because you can google everything but of course you do. Knowledge and wisdom is based on experience and understanding. Your profile can position you as the knowledgeable expert.

You must embrace tech in your business and be ready for the next decade. If you have any questions about how I can help you, please message me.