Technology and Your Business

Sometimes we might think because something works, there is no need to change or improve it.

It is easier to do what has always been done. After all, if you have already invested time and all the other needed to resources to make something work, why would you want to make revisions on it again?

“If it ain’t broken, it ain’t need fixin’.” Unfortunately, if we get stuck to thinking this way, especially in business, we might eventually end up losing our customers, clients – our market. They will move on to someone who gives them something we cannot give or perhaps refuse to give.

In life and perhaps more so in business, we need to embrace change, innovation.

To many (if not all) businesses, to welcome what is new and to be ahead of the game means to adapt to the latest technology and yes to adopt it where it is needed in our business. Gone are the days when artificial intelligence is only hinted about in books, in movies. It can no longer be stopped in saying hello to our world today.

The reality is that technology is affecting, even transforming business. If technology is such a key thing in how we run businesses today (or even how we live day by day), how should we face it?

Decide to learn all you can about it. It all starts with the mind. We need to decide to learn all that we can in terms of technology that affects our business and is useful to our business. To access the information we need about technology, the internet is our easy companion to do this. We can also decide to take even short courses that could help us in our way forward towards technological know-how. Again, the internet is our ally in accessing even online courses that could be very helpful to us. Some of these courses are even free.

Welcome a tech person in your team. If you do not have one yet in your business, now is the time to welcome a tech person in your workplace. This is especially true if learning the latest technology you need for your business is too much for you and there is no one in your team or staff who has the tech savvy you need. Hey, we are not meant to live or work alone. Welcome that tech person in your team now.

Keep up with the trends. It’s not just learning about it from online resources, books, the media, it also means connecting with people who can understand your business and tech journey and who can also give you input. It’s about learning from those who are two steps or more ahead of you in the tech industry like Blake Rubin. To keep up with the trends may also mean welcoming a mentor or coach in this area of your life.

Let’s make technology work for our business, for our life. It’s not going away. It’s not going to die. It’s just going to keep improving. So let’s face it and harness it well.

4 Tips to Keep Succeeding in Business

So, you’ve found business success. That’s great news.

The challenge now is to keep succeeding in business or growing it. These 4 tips can be helpful in making it possible:

Be Innovative. To innovate is to “make changes in something established, especially by introducing new methods, ideas, or products.” It also means introducing something new. I think the keywords here are change and new. You need to be able embrace whatever change may be needed to further improve your product or service.

There must be no fear to embrace what may be new but needed in creating and producing your products and even in promoting or marketing it. This could also mean taking steps in getting to know your market, your clients or customers better. And this may mean using tools you’ve never tried before in doing so, like embedded analytics.

Get Mentored and Mentor Others. Your journey to success need not be done alone. Learn from others who have gone further on in their business. Find someone you can consider and ask to be your mentor. They can help you navigate not only your success but also in avoiding the potholes of mistakes and failures.

Give back from your success and reach out to mentor others as well who are still in the path you have already gone past in your business or entrepreneurial journey. It is a good thing to exercise the Golden Rule: Do unto others what you want others to do unto you.

Refuse to Only Focus on Profits. As returns and profits come in, you may be tempted to just focus on them. Make the effort to say no and to remember that it’s not all about the money. We have heard of countless stories of businesses that eventually folded up because its owners have just become too focused on the profits, getting greedy as their businesses took off the ground. When the focus is just centered on money, the quality of the products or services begin to decline, and a downward spiral can unfortunately occur leading to the eventual closure of the business.

Take Care of Your Staff. It always makes sense to do so. Your staff or employees are instrumental in making your business succeed. Know how to reward them for their performance and contribution. Create a good environment for them to work and thrive. Know their needs as well as that of their family, there might be ways you can help them like offering scholarships to their children or providing them affordable loans to help them own a home or car.

It is good news to succeed in business, but the better news is to keep succeeding in it. And you can be intentional in making that happen.

Practical Tips in Growing and Sustaining a Business

During my childhood years, my late parents made some attempts to go into business.

Those attempts proved to be short-lived.

I was young then and I just observed what went on. Now, I look back and I saw a different light in some of the business decisions that my parents made.

I think that perhaps those business attempts would have thrived longer and earned better profits if my parents had considered the following:

Directly manage the business or hire a good manager. My parents at one point owned a beauty salon but they were too busy with their own separate careers. They also did not hire an experienced manager. This business eventually folded up. I think focus and passion are key things in growing and sustaining any business.

Knowledge of the market. At one time, my parents also went into newspaper publishing with some of their friends. The main challenge here is that they did this in our city where there were already two entrenched newspaper companies that time. I think that given their combined talents and skills the newspaper would have stayed on if they did a little bit more research and data gathering about the market and even about their competition. Doing this could have perhaps helped them in bringing out the edge of their paper. Data gathering or possessing information as some would say is power. Data gathering, and better data management would help a lot in improving one’s business. You can read more about data management tools on this page.

Failures and loss are sometimes part of the package. Perhaps it had to do with my father being a lawyer who always did his best to win every case he handled. Failure or loss is something he never wanted to face. But just listening to or reading the stories of successful business people and their businesses would show that they even faced several losses or failures in the beginning before they reached their breakthrough. What I remember is that my parents preferred to end a business venture when business challenges begin to appear.

Ask sound business advice from other successful business people. My late parents, it seemed to me, did not cultivate friendships with other business people who could have given them business tips, advice. I think we succeed when we listen and learn from others. Getting a mentor in business is also a key in unlocking the door of business success.

My late parents were satisfied with their own careers and were successful in them. I just think that they would have fared better, too, in doing business with just a few tweaks in their approach.