Yes, your business has a hood just like your car or truck does. Therefore, from time to time you or your mechanic (technician) needs to check under the hood to make sure the engine that drives your technology is running smooth. Also, every 6 – 12 months you need to make sure your “engine” is up to the tasks at hand so that your technology keeps your business operating and competitive.
Your growth plans should be the real starting point of how you evaluate your business technology. If you plan to grow slowly and you are satisfied with your current competitive position, then you can typically let upgrades or replacements slide a bit. However, on the other hand, if you are seeking to grow and compete at a higher level, then your technology may need to be closer to the latest and greatest available. In today’s technology world, newer technology typically adds additional features and capabilities that allow your business to operate more efficiently. This efficiency can drive revenue up and expenses down which puts your business in a more competitive and profitable position.
First, I encourage you to take stock or an inventory of all the technology you use in your business. Unless you are still depending on a rotary phone or a mechanical cash register then technology should be helping you run a better business. Start with your point of sale, if you have one, and then move to what I call your administrative computer or network. Verify that the equipment and software you are using are sufficient and up to date to keep these systems running at the speed you need. You may need to upgrade or replace some or all the equipment and/or software depending on your growth plans.
Secondly, look at all the other technologies that are a part of your business process. This could include credit card processing; use of I-pads; digital cameras for security as well as consumer sales; and controlling shipping costs. Each one of these areas are subject to new technologies that can make their use if more cost effective. Also consider completely new technologies or uses for technologies, such as using the I-pad to improve your customers in-store experience.
If you would like to learn more what is under the hood of your business technologies then please tune in to The Weekly Business Hour on Monday February 26th from 11:00am – 12:00pm CST on www.irlonestar.com , the Lone Star Community Radio app, or on Conroe City Radio at FM 104.5 & FM106.1.
You can also find the podcast of the show (posted on Wednesday March 1st ) by going to The Weekly Business Hour page on www.irlonestar.com or on Facebook to The Weekly Business Hour page: https://www.facebook.com/theweeklybusinesshour. The podcasts are also posted weekly on Wednesdays on YouTube on The Weekly Business Hour channel and on other social media outlets such as Stitcher, Google Play and ITunes.
I invite your questions or comments. Please email me at email@example.com and I will respond immediately.