Growing Your Small Business with Tech

There comes a point in the life of many small businesses when the temptation to grow is irresistible. Such growth involves a predictable set of challenges, many of which require more effort, bandwidth, staff, and resources. Small businesses rarely have at hand the unlimited funds and labor to invest in expansion, and that can limit scale. Fortunately, you can overcome these roadblocks by integrating the latest tech products such as apps, virtual reality software, and equipment, and various communication devices into your day-to-day operations.

What should you consider before implementing a new tech-based solution to grow your small business?

Understand the problem

Before deciding on solutions, make sure you know the problem. Analyze your opportunities and possible setbacks, and prepare to measure the impact of the solutions you choose for effectiveness. Shiny new objects will only help grow your business if they answer a need.

Know your pain points

Next, be honest about your business’ capacity to overcome pain points. Is your staff ready or willing to adopt your solutions? Do you need to factor training into your plans? Are your customers ready to receive information in a new way? Is now the right time to roll out, or should you wait for a slower season? The better you address your pain points, the smoother your expansion will be.

Cost vs. benefit

It’s tempting to throw every new tech solution at your problems and hope for the best outcome, but this can be an expensive and exhausting process. Whenever possible, trial your solutions on a temporary basis, and at the end of your trial, evaluate the cost of the tech against the benefit to your company. If it doesn’t measure up, save your money and keep searching for other options.

Take your time

Roll out new plans deliberately. Allow time for training and a period of testing before buying in. Rushing causes careless errors, which, for an expanding business can mean nails in the coffin.

We are lucky to live in an era where software, apps and specialty equipment can help take us quickly to a large scale of operations if used wisely. These tips can help you make the best choices as you attempt to expand your business with the help of cutting-edge technology.

Want to learn more about how technology can enhance your business? Registration for Catersource 2019 begins mid-September. Click here for the latest information!