Technology has had a huge impact on entrepreneurs around the world. As technology advances, entrepreneurs have taken advantage of increased speed, accuracy, and integration of their work functions each day.
Jack Howley, an expert business and personal wealth advisor from Naples, FL, shares how technology has positively impacted entrepreneurs and helped them accomplish their goals.
Better Customer Communications
One of the greatest benefits of technology for entrepreneurs is the increased ease and efficiency of communicating with clients. Websites and AI chatbots allow customers to answer their questions 24 hours a day. Better communication with customers is possible using email, telephone, and smartphones.
When clients can use technology to facilitate communication, the business benefits because timely communication creates a better public image. Responsiveness to customer concerns is one of the best ways to build a business’s reputation.
Better Business Culture
Entrepreneurs can build a more positive work atmosphere and a better company culture when using technology to communicate with their employees. Workplaces where communication suffers are more likely to experience problems.
Security
Today, all businesses are subject to vandalism and security threats. Technology can help to protect sensitive financial data and other proprietary data. In the case of proprietary data, a business may lose its competitive advantage if a rival company accesses its secrets.
The security provided by technology also helps companies keep their data safe from hackers and other bad actors. If companies are not careful with their computer systems, they may find that they are being held hostage by ransomware hackers. Having robust computer security can help companies accomplish their mission as easily as possible.
Researching New Opportunities
Technology helps companies discover new markets. With proper planning, companies can explore the possibilities of a new market without risking any concrete resources. Market research is a huge help when it comes to creating a new product or service and moving into a new geographic area. Electronic research means that companies can quickly and easily research any area where they plan to begin operations.
Project Management Software
Project management software has been a huge help for many entrepreneurs and their businesses. These software packages help entrepreneurs delegate tasks, manage workflow, and make sure that things get done in a timely fashion. Having a birds’ eye view of the entire project is a great way to visualize how much work has gone into it and how much remains before it is complete.
Marketing Opportunities
Technology presents amazing opportunities to market an entrepreneur’s products and services. Today, a large portion of marketing efforts have moved online. From social media connections to digital ads, there are many potential avenues for marketing a product online. Smart entrepreneurs know how to leverage their increased online visibility to create a successful product or service.
Personalizing the Customer Experience
Technology allows entrepreneurs to personalize their customers’ experiences. Big data, artificial intelligence, analytics platforms, and blockchain can help companies make each customer’s experience unique. This means that they are more likely to be retained as customers and are more likely to buy products or contract services.
Reducing Costs
Technology enables entrepreneurs to reduce the cost of doing business. By removing duplicate efforts and making employees more efficient, the overall cost of getting things done is improved. Having a good handle on how much it costs to acquire a new lead or introduce a new product is an excellent start in reducing costs.
Reaching Customers Where They Live
Technology enables entrepreneurs to reach their customers where they spend most of their time. People still use PCs, but they spend up to 4 hours and 30 minutes per day on mobile platforms like smartphones and tablets. Websites and marketing materials must be 100 percent accessible via mobile, or a company’s efforts will be regarded as hopelessly out-of-date. Entrepreneurs are reminded that reaching a customer where they live is more likely to increase sales and make it easier to retain prospects.
Falling Behind Leads to Problems
Entrepreneurs must make sure that they are keeping up with the march of technology. If they fall behind, their competition is likely to infringe upon their territories. Having a robust use of technology is best for both entrepreneurs and their customers.
Ensuring the Proper Use of Technology
Jack Howley believes that entrepreneurs who do not keep up with technological change will be at a serious competitive disadvantage. He encourages all entrepreneurs to look into tech solutions to all of their most pressing problems. They will reduce the number of employees needed to do a job, stay organized, stay secure, and reach customers where they live.
Overall, technology should be a high priority for all entrepreneurs. Having a good handle on how technology can help a business grow is a way to ensure its success. Jack Howley encourages all business leaders to increase their adoption of technological solutions.
