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Seven Ways Technology Makes Your Small Business Grow Faster

Seven Ways Technology Makes Your Small Business Grow Faster

When properly harnessed technology has the ability to change lives for the better – the world over. As a point of illustration, you need only compare the technological progress made over the last 50 years with the prior 500 years of advances to appreciate its impact on society. However, modern technology’s reach doesn’t end with the general public.

In fact, its impact extends far into the business arena — to the extent that technology has the potential to make or break most businesses; this is especially true for small businesses.

Does this mean that technology can negate the effects of bad business fundamentals, poor management, or inept leadership? Absolutely not! However, it does mean that small businesses who at least score average in most areas can benefit immensely from the tech sector. Namely, it can help them grow and become more effective.

Here are a few ways that businesses can scale technology for growth.

1. Store Data on Cloud

Storage is in the cloud is a practice that has completely upended the old ways of storing data. Ten years ago companies who managed large quantities of data had to FTP large files when they wanted to send them. Likewise, businesses could not manage data without investing in numerous high capacity storage devices.

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In contrast, today it’s as easy as hosting the data via an online storage account and sending an invite link to share it with peers. Indeed, the implications of being able to store data in the cloud are staggering.

For example, cloud storage makes it possible for users to:

  • access their data from anywhere in the world
  • perform backups automatically
  • store unlimited amounts of data
  • collaborate on a single document in real time

If you’re a small business owner, you can use the benefits above to give you the speed to compete with larger businesses.

2. Social Media

Social media allows small businesses to do several things that were nearly impossible to accomplish as an SME only 25 years ago. Namely, it allows you to observe nearly every aspect of your audience’s behavior; this gives you a wealth of insight into what your customer’s motivations are. In turn, you can use this knowledge to become a better seller. Additionally, social media gives you a platform to build your authority. Social networking platforms have made it easier than ever to do both.

What this means to you as a small to mid-sized business is that you can wield just as much marketing firepower as more established brands at a fraction of the cost.

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3. Productivity Apps

While it would be nice to have an army of project managers at your beck and call, the reality is that it would cost a small fortune to do so. But the good news to small business owners is that thanks to digital innovation, you don’t need hundreds of productivity experts to stay productive. As a matter of fact, all you really need is a mobile device armed with the right productivity apps.

A few of the most popular ones include:

  • Slack
  • Trello
  • Asana
  • Podio
  • Basecamp

What’s more is that many of these apps can be synced with their desktop versions and are completely free or offer a free level of service.

The nice thing about using and mastering these applications is that doing so automatically enters you into the small percentage of businesses that are highly effective at getting the right things done.

4. Analytical Tools

There are numerous analytical tools that you can use to determine the strengths and weaknesses of your business. Thanks to the Internet many of these tools can be deployed within a matter of seconds. For instance, you can gauge the percentage of visitors to your website that browses your site on their mobile browsers – or – you can assess your page load speeds. When it comes to measuring your company’s key performance indicators, they sky’s the limit. Digital technology puts all of this at your fingertips.

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If you’ve ever heard the adage, ‘knowledge is power’, then applied knowledge is even more powerful; this is exactly what analytical tools afford you. Namely, the ability to make wiser decisions in a shorter amount of time.

5. Better Marketing Campaigns

Digital marketing campaigns have the potential to offer highly specific targeting, immediate results, easy testing environments, and two-way conversations. More importantly, they tend to offer higher returns on marketing spend than some traditional forms of advertising. These characteristics make digital marketing much more accessible to small businesses than other types of marketing.

One of the reasons online marketing appeals to smaller businesses is that unlike print, radio, or TV advertising, you don’t have to wait until the campaign is over to review campaign results.

6. Technology Yields Ease of Communication

Recent technological advances have done made communication effortless. Not only is it ridiculously easy to communicate in this day and age but communicating with your peers is both lightning fast and incredibly affordable; this applies both to domestic and international communication.

As business owners, modern communication has removed the barriers that used to make doing business overseas nearly impossible. As such, today collaborating with someone who lives abroad is as simple as Skyping that individual.

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7.  Web-Based Payment Systems

Web-based payment systems make it easy to send or receive payments. And they do so while offering a host of payment options. Many of these platforms even offer seamless integration into the popular accounting programs.

As a result of this newfound payment flexibility, small businesses can gain access to entirely new customer segments. Ultimately, this means more clients that you can offer your products and services to just by virtue of accepting another method of payment.

You’ve just seen seven ways that technology can help build your business. The common thread is that most, if not all of these advances allow business to do more with less. I hope that you found the article useful and can use at least one of these technology applications to your benefit.

Featured photo credit: imujer.com via static.imujer.com

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Last Updated on March 29, 2021

5 Types of Horrible Bosses and How to Beat Them All

5 Types of Horrible Bosses and How to Beat Them All

When I left university I took a job immediately, I had been lucky as I had spent a year earning almost nothing as an intern so I was offered a role. On my first day I found that I had not been allocated a desk, there was no one to greet me so I was left for some hours ignored. I happened to snipe about this to another employee at the coffee machine two things happened. The first was that the person I had complained to was my new manager’s wife, and the second was, in his own words, ‘that he would come down on me like a ton of bricks if I crossed him…’

What a great start to a job! I had moved to a new city, and had been at work for less than a morning when I had my first run in with the first style of bad manager. I didn’t stay long enough to find out what Mr Agressive would do next. Bad managers are a major issue. Research from Approved Index shows that more than four in ten employees (42%) state that they have previously quit a job because of a bad manager.

The Dream Type Of Manager

My best manager was a total opposite. A man who had been the head of the UK tax system and was working his retirement running a company I was a very junior and green employee for. I made a stupid mistake, one which cost a lot of time and money and I felt I was going to be sacked without doubt.

I was nervous, beating myself up about what I had done, what would happen. At the end of the day I was called to his office, he had made me wait and I had spent that day talking to other employees, trying to understand where I had gone wrong. It had been a simple mistyped line of code which sent a massive print job out totally wrong. I learn how I should have done it and I fretted.

My boss asked me to step into his office, he asked me to sit down. “Do you know what you did?” I babbled, yes, I had been stupid, I had not double-checked or asked for advice when I was doing something I had not really understood. It was totally my fault. He paused. “Will you do that again?” Of course I told him I would not, I would always double check, ask for help and not try to be so clever when I was not!

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“Okay…”

That was it. I paused and asked, should I clear my desk. He smiled. “You have learnt a valuable lesson, I can be sure that you will never make a mistake like that again. Why would I want to get rid of an employee who knows that?”

I stayed with that company for many years, the way I was treated was a real object lesson in good management. Sadly, far too many poor managers exist out there.

The Complete Catalogue of Bad Managers

The Bully

My first boss fitted into the classic bully class. This is so often the ‘old school’ management by power style. I encountered this style again in the retail sector where one manager felt the only way to get the best from staff was to bawl and yell.

However, like so many bullies you will often find that this can be someone who either knows no better or is under stress and they are themselves running scared of the situation they have found themselves in.

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The Invisible Boss

This can either present itself as management from afar (usually the golf course or ‘important meetings) or just a boss who is too busy being important to deal with their staff.

It can feel refreshing as you will often have almost total freedom with your manager taking little or no interest in your activities, however you will soon find that you also lack the support that a good manager will provide. Without direction you may feel you are doing well just to find that you are not delivering against expectations you were not told about and suddenly it is all your fault.

The Micro Manager

The frustration of having a manager who feels the need to be involved in everything you do. The polar opposite to the Invisible Boss you will feel that there is no trust in your work as they will want to meddle in everything you do.

Dealing with the micro-manager can be difficult. Often their management style comes from their own insecurity. You can try confronting them, tell them that you can do your job however in many cases this will not succeed and can in fact make things worse.

The Over Promoted Boss

The Over promoted boss categorises someone who has no idea. They have found themselves in a management position through service, family or some corporate mystery. They are people who are not only highly unqualified to be managers they will generally be unable to do even your job.

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You can find yourself persistently frustrated by the situation you are in, however it can seem impossible to get out without handing over your resignation.

The Credit Stealer

The credit stealer is the boss who will never publically acknowledge the work you do. You will put in the extra hours working on a project and you know that, in the ‘big meeting’ it will be your credit stealing boss who will take all of the credit!

Again it is demoralising, you see all of the credit for your labour being stolen and this can often lead to good employees looking for new careers.

3 Essential Ways to Work (Cope) with Bad Managers

Whatever type of bad boss you have there are certain things that you can do to ensure that you get the recognition and protection you require to not only remain sane but to also build your career.

1. Keep evidence

Whether it is incidents with the bully or examples of projects you have completed with the credit stealer you will always be well served to keep notes and supporting evidence for projects you are working on.

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Buy your own notebook and ensure that you are always making notes, it becomes a habit and a very useful one as you have a constant reminder as well as somewhere to explore ideas.

Importantly, if you do have to go to HR or stand-up for yourself you will have clear records! Also, don’t always trust that corporate servers or emails will always be available or not tampered with. Keep your own content.

2. Hold regular meetings

Ensure that you make time for regular meetings with your boss. This is especially useful for the over-promoted or the invisible boss to allow you to ‘manage upwards’. Take charge where you can to set your objectives and use these meetings to set clear objectives and document the status of your work.

3. Stand your ground, but be ready to jump…

Remember that you don’t have to put up with poor management. If you have issues you should face them with your boss, maybe they do not know that they are coming across in a bad way.

However, be ready to recognise if the situation is not going to change. If that is the case, keep your head down and get working on polishing your CV! If it isn’t working, there will be something better out there for you!

Good luck!

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