Having a flourishing start-up civilisation and many creative, talented minds, Australia is a great country with an abundance of innovative and successful small businesses. Regrettably, two-thirds of start-ups fold over the first 3 years of operation. To prevent becoming another statistic, you want a development mindset from the beginning and long-term company strategy to coincide. You want to make an operating foundation that's readily scalable as your company develops. Investing in the ideal technology with the advice of the right business coach is the key to accomplishing this.
From the first days of conducting a company, you can eliminate tedious paperwork and unnecessary processes. However, there's a stage where such manual procedures will begin to slow the company down, affect the customer experience and ultimately slow expansion. Unfortunately, several smallish companies underestimate precisely how vital technology is in conducting a thriving company when it is, in fact, the backbone for development. Technology should be integrated into every aspect of the business, from essential admin work to the business branding and publicity.
When a company begins to experience growing pains, it generally fixes one issue at one time, frequently throwing brand new systems and technologies haphazardly into the mix. However, this approach will create additional problems from the long term than it solves in the short term.
By way of instance, you may require applications to manage sales prospects, so that you get that. Then you may need a method to automate your advertising, which means that you invest in that. However, if both of these parts of technology are not able to speak with one another you are creating deposits of information, and a great deal of manual work and coordination. In contrast, you could invest in a compressive technological system with delivers both these requirements and more to create a cohesive system.
And, if you are wasting time on unnecessary manual procedures to keep the company running, that is the time you are not investing in developing the organisation. It means you are never likely to strike on the KPIs that you will need to achieve for the company to flourish.
How technology empowers small company development
The trick is never to get in a place where you are chasing your tail. Successful start-ups are automating procedures from the get-go and investing in technology which scales with the company as it develops. Consequently, they can attain such KPIs that propel the company towards a prosperous future. They are able to attract more revenue through the doorway, in a lower cost of doing business, while providing a superior customer experience.
Every step in the client experience -- from advertising to sales to customer support -- is a hyperlink or a rest from the procedure; a good or bad customer experience. Having the perfect technology in place, which may connect the consumer journey from beginning to finish, isn't just about providing the customer with the very best experience possible, but it is also about conducting a slender, well-executed, workable performance.
Another plus side of getting linked technologies is that you also possess an entire information resource. You are in a position to observe a holistic, real-time view of the organisation, and make informed business decisions. Investing in technology means that you are creating a brand for your business that is forward and modern.
Technology has already revolutionised several industries such as the real estate industry, where the internet has become a vital resource for those looking to sell property. No longer do real estate businesses rely on traditional methods to operate, technology has facilitated no agent property sale which optimises efficiency and costs to both the buyer, seller, and agent. It is incredible how technology simply opens avenues for a business that were not thought possible, the internet especially links businesses with their customers more directly than ever before.
How can you know you are investing in the ideal technology?
Primarily, any tech you are buying ought to easily integrate with your organisation both today and in the long run. Decisions made today can't have an adverse effect on your organisation tomorrow. This implies not jumping from problem to problem and fixing one problem at one time.
Second, if the tech is forcing you to modify your business processes (perhaps not for the better) take this as a warning and go through an audit to assess the suitability of the technology. Fantastic technology is readily customisable to match your business requirements and procedures, not the other way around.
In the end, be confident that you're planning for expansion and potential future situations. Just because your business or surroundings is a specific way now, does not necessarily mean it's going to be similar the next quarter. Never presume an Uber or Facebook is not likely to come together and entirely alter how you conduct business. Fantastic tech ought to be able to address your business issues today and continue in whatever way you want to go to evolve tomorrow.
Back at the beginning of this century that the tech world was entirely different, and businesses were resistant to change and skeptical about the safety and usefulness of technology. Firms would run programs or applications from other applications downloaded on a concrete server or computer. It was rather costly and rigid, and for several smaller and medium companies, beyond reach. It was intimidating to see huge multi-national companies employing technology that was not readily accessible or easy to implement.
Times have now changed. The debut of cloud technologies has levelled the playing area, providing small company access to the same technology that was just an alternative to big business. Cloud technologies have democratised business applications and improved time management for small businesses, without the initial outlay or expensive ongoing maintenance, working on a yearly subscription fee instead. Small company is currently in a situation where you are able to compete with the big players in the market. Cloud technology has allowed businesses to be productive regardless of time or location.