Step 6: Identify Technology Uses
The Concept:
Successful entrepreneurs make the best use of current technologies not just for technology's sake, but to make the business stronger and more competitive.
What you need to know:
Two companies provide the same service, yet one utilizes automation and computerization, and the other does not. Guess which one thrives? Use of technology in your business will yield faster and better-quality product output; more accurate bookkeeping and inventory control; a more informed, cohesive, and productive workforce; and more responsive sales, customer service and marketing. Startup businesspersons with a future know how to use a computer—software exists to simplify and integrate every conceivable corner of business management, and the Internet has emerged as a tremendous tool for acquiring new business, keeping current customers satisfied, and collaborating and maintaining contact with partners and employees.
Points to consider:
What technologies are or can be employed in your company's industry? Are you comfortable with them or willing to learn?
What training is needed to best utilize appropriate technologies?
How fast is technology changing? How will this affect your business? Can you keep up?
What is the life of your product or service given the pace of technological change?
What is the cost of technology within your industry?
Is technology providing maximum benefits to your business? |
