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How Will Your Small Business Continue To Thrive During Technological Change?
Posted on November 15, 2018 by MyNetWire
Categories: Info Articles
New technology is emerging faster than most small business can become skilled in using them.  The problem is that some of these technologies are creating disruptions and firms that don’t adapt are at risk of falling behind and missing out on opportunities.  This post explains how you can tackle the disruptions brought about so that your small business not only survives but also thrives.
Designate A Research Team

One idea worth considering is to assign at least two tech-savvy members of your team to go out and find what innovations other businesses are capitalizing on.  For instance, they could follow small business websites to find out what themes and plug-ins other firms are putting to use.

Your research team should report to you regularly, with recommendations on what systems to adopt and how these innovations will help you tackle various issues.  The team shouldn't just research about other businesses; they need to do constant internal scrutiny as well.  This includes identifying the gaps in your firm that require filling and come up with innovative proposals for solutions.
Make Proposals A Reality

Certain members of your business should be in charge of transforming a proposal into reality.  As a vital part to a business, a tech lab needs to be composed of technologists and researchers who are capable of implementing ideas efficiently.  Often, they are the sole reason why an idea or proposal becomes a reality.
A Financial Strategy

When it comes to small businesses, money is definitely a key factor in the way decisions are made.  Consider delegating a member of your team, or an accountant, to handle all the financial matters related to technology.  Ensure new solutions are cost efficient without compromising the quality.

Succeeding in business isn’t just about focusing on implementing new changes with technology; it’s more about understanding them fully and making certain they’re suitable.  Similar to small business websites, the first step is to evaluate if the change is best for your business then familiarize your team with it.
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