Small businesses all across the globe have found that the rapid stream of new technological innovations over the past decade can be adapted to strengthen all areas of their operations, from marketing strategies to customer service and from administration processes to new product development. Making innovations to your product or service offering using technology adoption is also often what will put you ahead of your competitors and give you a real advantage in a crowded marketplace. Solutions move rapidly, and those businesses that keep pace with them are more likely to prosper. Indeed, driving forward with new tech can really transform your entire business model and become the keystone of your development strategy.
Secure Business Financing
Start-ups need funding to grow effectively and to make the investments which allow them to expand and maintain their operations. Technological adoption can boost the fortunes of your business – it gives you a much wider platform for being able to secure investment. Crowdfunding is a solution which has opened the way to many businesses which have struggled with traditional investment routes. It allows many investors to have a small piece of equity in exchange for their cash and also gives you a ready-made audience when your product or services launches. Sites like Kickstarter will give you the space to showcase your idea and seek investment in a new way, so you have more routes to pursue to get the cash you need.
Continuous Professional Development
Your own learning and skills as a small business owner are what you’re really selling in a lot of cases, and you’d be wise to continue making the investment to develop yourself professionally. Luckily new distance learning degrees mean you can pursue that education without having to give up running your business or thinking about relocation and the costs of visas and other items. An online masters in a subject such as computer science could even help you to come up with technology-based solutions to your business challenges, while virtually attending lectures on YouTube. You can view the program here and see if online study is right for you.
Sell More On Social Media
If you haven’t optimized your sales via social media, then you are potentially missing a big trick. Depending on the nature of your business, Instagram, Twitter, and LinkedIn can be amazing platforms for connecting you with your customers. Many businesses have started off with no marketing budget, but have used social media effectively in order to make sales – such as the owners of Spectrum Cosmetics, who built an empire selling makeup brushes from their garage over their Insta feed. Developing a strong social media strategy with engaging content designed specially to appeal to your target audience is the key to success, driving customers to optimized web pages which further draw them down the sales funnel. Your company branding and visibility can rocket if you showcase it in the right way and have the right hashtags to hand. Use the platforms as a chance for genuine engagement rather than pure sales and you’ll find much greater success.
Image via Unsplash