According to a 2012 study by CUF, only 1/3rd of small businesses have an account on a social media website or have any website at all. Obviously, the last few years have seen a rise in these numbers but the fact remains – when it comes to small businesses, technology might still be considered a luxury and not a necessity. However, traditional business tools are dwindling in their popularity and businesses that embrace technology are doing better. There are many advantages of small scale businesses adopting technology more actively in their strategy –
Cost Saving – Small businesses are usually short on staff but with technology, this fact does not have to be so crippling anymore. With Virtual Assistants, online tutorials, videos and free business advice available through technology, small scale businesses can transform the way they live. Because these services are so affordable (and mostly free), these businesses can save a lot of money and time.
Better Exposure – Social media is a great way of creating a brand name for the business and getting more exposure. Even well-settled big names in the industry are using this tool for great purposes and if small scale businesses want to improve their sales, lower their costs, achieve better results with marketing and advertising, and skyrocket their customer base, they need to embrace technology as soon as possible.
No Logistical Issues – Previously, businesses were tied to their place of office and customer service had to entertain phone calls or actual visits. With technology, business growth does not have to be such a headache. Businesses can choose to expand departments online because logistical issues are completely eliminated when it comes to technology. With video calling, video conferencing, live chat, web forms, and other contact tools, businesses would find themselves in a profitable position.
Improved Credibility – Businesses that have a social media profile and a website show to their customers that they want to hear about grievances and are open to ideas. On the other hand, lack of social media profiles and website indicate that a business is not on top of its game. Technology can help to improve the credibility of a business in the industry in this way.
Simpler Business Tasks – Essential procedures like accounting can now be simplified with the help of technology. Other areas where technology can help include customer service, payments, queries, global operation, and so much more, if the businesses choose to embrace it.
Shaygan Kheradpir is a technology and business executive who is also a alumnus of Cornell from where he received his doctorate (masters and bachelors) in electrical engineering. After leaving Cornell University, his name has featured in huge companies and he has also contributed greatly to the current technological boom the world is experiencing. He has previously worked in Verizon where he helped with the currently popular FiOS, Barclays, and Juniper Networks as their CEO. Shaygan Kheradpir has always been a huge supported of innovative technological solutions and has advised that businesses embrace these developments as soon as possible.