The importance of technology for any type of small business can’t be ignored. It not only facilitates communication with clients, potential customers, employees, and partnering businesses, but it also helps companies operate more efficiently in many ways. Although there are costs involved, using the right tech empowers small businesses to set (and accomplish) bigger goals and ultimately make more money. In fact, the absence of tech can significantly hinder a company’s success in today’s world, which is why businesses should keep up to date with the latest trends. Listening to a tech news podcast can be a great way to stay informed about new developments and insights in the tech world. While social media is important for any small business, this article will provide tips for deeper ways you can integrate tech into your company’s operations.
Dropshipping
One way that tech can make your business money is by using dropshipping. It doesn’t cost a lot to invest in dropshipping as a second business, and it doesn’t require you to keep a physical inventory. Many companies find that this dovetails nicely with their business.
There are numerous products that are selling well right now that you may consider integrating into your business, such as:
● Gifts
● Apparel
● Jewelry
● Electronics
● Gadgets
● Coffee mugs
● Stickers
● Toys
● Office supplies
● Books
● Furniture
Depending on what kind of small business you run, selling a variety of items could bring in some additional income. With minimal time and money involved, using dropshipping wholesalers is considered a win-win by many companies. Do not choose a dropshipper blindy, however. Ask for product samples before you begin shipping to your customers so that you can access the quality of the products that you are promoting.
Point-of-Sale Systems
Creating a quick and easy checkout process for customers is critical these days because customers now expect it more than ever before. And if your company makes customers jump through a bunch of complicated hoops and fill out a bunch of information before they can purchase something, don’t be surprised if they abandon their shopping cart and look to spend their money elsewhere.
You can simplify your checkout process by purchasing a point-of-sale (POS) system, which should streamline your sales — both online and in-store. Also, a good POS system will have built-in tracking, help you manage your inventory and offer insightful financial reports that help foster your company’s growth. Many are portable, too, meaning that you can give your clients a seamless buying experience if you attended fairs and community events.
Mobile Communication
Today, people want answers as they ask questions. This means that you might need to communicate with your employees at odd and off-the-clock hours. Because of this, it makes sense to provide key members of your team with a reliable smart device — preferably one with unlimited data since overage charges can quickly eat into your budget. Many providers now offer monthly phone plans specifically for small businesses. For example, Verizon’s Business Unlimited plan includes up to five lines. There are many options out there; do your research first to determine what best fits into your budget.
Data Security
The recent advances in technology mean that small businesses are susceptible to cybercrime — a type of crime that appears to be growing by the day. Protecting your company from malware, breaches, and fraud should be a top priority.
There are a number of cybersecurity practices you can implement within your company to help protect it from such crimes, including:
● Installing security software (e.g., antivirus software, encryption software)
● Keeping security software, operating systems, and web browsers up-to-date
● Making sure all employees’ cell phones are protected (e.g., password protection, security apps, encryption)
● Encrypting and hiding your company’s on-site WiFi network
● Having all employees change their passwords every three months
Failure to implement basic data protection can leave your business scrambling to recover after a cybercrime event. This can negatively impact the public’s perception of your business, and it can take years to regain your reputation.
Time Tracking
Time is money in business, and investing in time tracking can save both for your company. Time tracking tools — such as online tools and desktop software — can help you manage hourly billing and hourly wages, as well as help you keep track of how long you spend on each project so that you can maximize the time you have. Moreover, it helps to increase productivity among employees and make your business more efficient overall. Search online for the most popular time-tracking software, and choose the option that works best for your company’s needs.
Technology is a vital component of virtually any successful small business these days. Consider dropshipping products to customers as a second business, as it can add to your profits with little cost up front. Next, look into improving your checkout process by investing in a quality point-of-sale system. Finally, take the steps to stay in touch with your employees, secure your company’s data, and utilize time tracking tools to make your business operate more efficiently. Take advantage of the many tech options available to businesses everywhere that can save (and make) your company money.
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