It is expected that business owners be tech savvy in today’s busy world. If you don’t keep your business up to date then you risk falling behind your competition and losing the respect of your customers and clients. Here are some of the many advantages of keeping current with technological business trends:
Should business owners be tech savvy? Here are our reasons!
More economical and far-reaching marketing
Advertising in magazines, newspapers and other print media can be expensive and take a lot of planning. Through the use of the internet and social media it has become much cheaper for firms to implement strong marketing plans that reach a large and varied demographic. Social media allows your firm to keep customers and clients more up to date on the latest from the industry and company you are involved with.
Better networking equals more opportunities
Not everyone has the time or capability to attend industry related conferences, trade shows, etc. Sites such as LinkedIn, online forums, and more, make it possible for business professionals to network like they never have before. Good networking can help your business find opportunities for growth and collaboration.
M1 Group is an investment holding company that has greatly benefited from the networking opportunities that easy internet access and networking has allowed. M1 was founded by brothers, Taha and Najib Mikati, as a way of diversifying the investments of their successful telecommunications company. You can follow CEO and see what opportunities they are exploring. Technology ensures that international investments are easy for M1 to manage, regardless of how far away their main office is. With the existence of telepresence, and sveral other online meeting tools out there, business owners can leverage on technology in meeting and connecting with like-minded, business-oriented people all over the world, and that would ultimately give room for more business opportunities.
Technology shows you are interested in improvement
Customers and clients want to do business with those that are always looking for a way to do a better and more efficient job. By staying up to date, you can save time and money that can be passed on to individuals, while still getting a higher volume of business than before. Many satisfied customers will lead to many referrals. Attracting younger clients is also easier if you keep your website and social media accounts up to date, while incentives such as discounts can increase the amount of attention you receive from social media.
Virtual office systems and the ability to store data on the internet, securely, have reduced the costs of maintaining an office. No longer do employees have to remember to back up data or take it off-site at the end of the workday. Virtual files have largely replaced paper so that employees can find information when they need it, instead of wasting work time that you are paying for. When information is better organized there are fewer mistakes made. Fewer mistakes mean a greater number of satisfied customers and clients.
Office spaces can be much smaller now that data does not have to be stored in paper form. With office space prices at a premium in choice locations, this can add up to a lot of money saved over the years.
Being tech savvy as a business owner has lots of advantages, especially for those just starting out. Are you an entrepreneur, do you subscribe to the idea of being tech savvy or outsourcing the technology to third-party to manage?
Credits: InvestmentNews, PivotPoint, NSW.org