Showing posts with label Business and Economy. Show all posts
Showing posts with label Business and Economy. Show all posts

Wednesday, March 20, 2013

Who needs technology? Part one of three

Small Business Administration Awards Luncheon
Computers. Smartphones. Tablets. High-speed Internet. WiFi. These game changers continue to transform the world of business in general, and hold special promise to enable Small Businesses to compete at a level unimaginable even five years ago.

Ironically, as more Small Business owners, operators and employees become more computer- and technology-literate, we are discovering that... nobody is really interested in technology. Seriously: nobody cares. 

Unlike the early days of "the consumer Internet", noone talks about what kind of chip their computer runs on, or how fast it is. People are still using Windows XP, and even the poor souls who got stuck with Windows Vista pre-installed on their PCs have stopped complaining about it. The smallest of Small Businesses are now confidently buying iMacs and Macbooks, and naturally expect to either build their work network with them, or integrate them with whatever systems they already have without too much of an effort.

Tablets have pretty much replaced laptops as the portable computing solution of choice. More people are accessing the Internet using their Smartphones, the "iPhone vs. Android" religious war has subsided to a brokered peaceful co-existence, and it appears even Microsoft finally has a credible threat with it's latest Windows Phone offerings.

iPhone vs Android
iPhone vs Android (Photo credit: nrkbeta)
So it's not that noone cares about technology: it's that the focus is no longer on the technology, but on the benefit of using the technology. Texting isn't just for kids: it's a way to document your informal business communication, followup on one conversation while in a meeting or a conversation with someone else.

Facebook presents opportunities to expose your brand to tens of thousands of people on a shoestring budget, control your company's image and shape its brand message. Twitter enables Small Business to craft real-time marketing campaigns, leverage location-based demographic data and identify the "long tail" sweet spot that makes up its niche market.

Businesses being more "tech savvy" doesn't mean that they now speak like geeks, but that they think like CEOs instead of peddlers. Businesses in all industries, of all sizes, have the power to increase productivity and profitability while actually decreasing the effort and activity required to get things done. Technology provides no magic bullet solutions, which is we see fewer tech pros like myself boasting of "functions and features", and now focusing on "benefits and strategic advantages".

Everybody has an email address. Nearly everyone has a smartphone now (or should!). Small Businesses have become quite tech savvy... but have technology professionals become more business savvy? We'll examine that in part two.

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Monday, February 14, 2011

Top Ten Reasons Small Businesses Fail - part six

Versatility

Though many Small Businesses are one-person operations, in today's economy, none can afford to be "one-trick ponies".

Even if you can't diversify your staff (especially if you work alone), you'd do well to diversify your skills. Every solopreneur has a specialty, but don't focus exclusively on the thing you do best. What happens if the market shifts, or your existing clients have had their fill of the good or service you specialize in?

Begin by ignoring the voices in your head that say "I can't...", "I don't...", or "I'm only...". You are an entrepreneur - something you may not have imagined being even a few years ago. Whether it was always your dream, or the result of a layoff due to the "Great Recession", here you are! Don't let the challenge of expanding your capabilities defeat you as success draws near.

Next, consider improving your business-critical skills, such as:
  • Business communications
  • Planning
  • Financial management 
  • Networking
There are many courses available, locally and online, designed especially to assist Small Business owners, operators and employees in enhancing their business related skills. Locally (New York City), I highly recommend NYC Business Solutions' FastTrac New Venture course. This is a free, month-long course designed especially to, as their website states:

"...help you perfect your business concept, write a strong business plan and access resources to complete your launch."

If you're in New York City, and are in the first year or two of starting your Small Business, you MUST enroll in this course. The benefits are immeasurable - and how can you beat the price?

Consider also what you are good at that you could do for others, perhaps on an informal or advisory basis? Are you a good writer? Lend a hand to fellow solopreneurs and Small Business owners/operators/employees by proofreading drafts of their business communications.

Better at managing money? Although you may not be an accountant, you might have advice, tips, spreadsheets, or prior budgetary management experience that would prove useful to friends or colleagues struggling to stay on top of their financials.

Success in today's economy requires more than focusing on your core specialty; it increasingly involves thinking beyond direct financial compensation. Lending assistance to those who may benefit from your versatility is an excellent way to gain word-of-mouth recommendations and/or discover referral partners.

It's basic human nature to help those who help us. And unselfish devotion to others, as contrary as it may seem, is an often overlooked component of professional and financial success.

As we've mentioned several times in this series, business is about relationships. As with any relationship, sincerity is a key aspect of forming those which last and flourish.

Series inspired by "Top Ten Reasons Why Small Businesses Fail" by: Connie Holt, E.A. cholt@henssler.com
The Henssler Financial Group Position Paper
© 2004 The Henssler Financial Group | www.henssler.com

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