Today’s business landscape is increasingly becoming dependant on the ability of companies to leverage the technologies available to them to dominate the competitions. Just look at Facebook. Dozens of social media entrepreneurs had the opportunity to do what Facebook did. But it was only Mark Zuckerberg who was able to take the supporting technology of the internet and coding languages and turn them into something that was genuinely marketable and global. Beginning in 2004, he used his technological expertise to get students in select colleges to use his platform. By 2006, he knew the technology was available to open up Facebook to users across the world, and that’s precisely what he did.
Technology is the foundation of the most successful businesses because it gives them unique opportunities and advantages to do things better than the competition. Facebook dominated MySpace and LinkedIn because it thought more carefully about how to implement technology in the best way.
But that was over a decade ago – a lifetime in the digital era. What digital tools do entrepreneurs need to use today to dominate the competition?
Build A Tech Roadmap
Technology isn’t at the point yet where it is allowing entrepreneurs to make better decisions. But it is at the stage where it is helping to shift a lot of routine work into the background. Once upon a time, entrepreneurs had to hire people to do the time-consuming task of maintaining their social media presence. But thanks to social media management apps, that’s almost become a thing of the past. You can hire somebody for the day to produce all the material you need for the week, and then automate the rest.
Budding entrepreneurs need to create tech roadmaps. Digital transformation is an ongoing process, and technology is creating new opportunities all the time. Getting your team on the same page is essential if you are going to utilise technology effectively in the future. Each person needs to have the contextual knowledge to make the right decisions; otherwise your dreams of a more efficient business will never get off the ground.
Emphasise Remote Working
Offices cost a lot of money. And while they’re still necessary for some business, many startups don’t actually need them.
Remote working removes many of the costs associated with running offices. Not only do offices cost a lot to rent out, but they also come with a host of other expenses. Regulations, business taxes, and heating and lighting for employees add to the expense. Products like Zoom, however, enable businesses to organise meetings with employees over the internet, without the need for them to be physically present.
Invest In Cloud IT
Cloud computing has probably done more than any other technology to level the playing field between big companies and their smaller rivals. Instead of having to pay enormous upfront fees to establish an in-house IT infrastructure, entrepreneurs can approach companies like MVPS, pay a monthly fee, and have them deal with all the technical issues. At root, this means that entrepreneurs don’t pay for anything they don’t need. Costs are kept to a minimum, so there’s more to spend on the things that will make your business more enticing to customers: better products, better marketing, better customer care.