As any successful small business owner can tell you, it is essential that you keep a close eye on where you spend your money. Finance should always be a priority for small business owners. That includes what you are investing in for your business. Investing in technology wisely can be one of the easiest ways to improve your business and improve your financial picture.
Why You Should Upgrade Your Technology
In today’s market, you must be able to keep up with your competitors and technology can ensure that you are at the head of the group. Outdated CPUs and other equipment are slow and can keep you from achieving your business goals. Everything from appointment setting to marketing happens online. About 72% of advertising is purchased programmatically using online tools.
It is essential that your business taps into the available technology to manage your business. If you notice that your IT equipment is running “hot” or moving at a snail’s pace, it is likely that your hardware is overtaxed and not fully functional. Apps and software can take up a lot of space, and if your hardware is outdated, it does not offer the space or the speed that is needed to run the apps and software. Investing in newer technology is a great way to ensure you are doing everything you can to help your business to succeed.
Start With Low Cost Upgrades that Offer a Big Impact
You do not have to risk your finance health to upgrade your tech. There are some simple low-cost upgrades that will change how you do business for the better. Here are a few things you should consider:
- Upgrade your wireless network. 802.11n is much faster than the older 802.11b or 11g wireless network.
- If your finance right now will not allow you to purchase a new PC, consider upgrading the RAM in your system. It can make a huge difference in your speed.
- Purchase a network-attached storage device to free up some space.
Another thing to consider is what USB devices you are using. Not all USB devices are designed for speed. If your business participates in P2P sharing (made popular in 1999 by Napster), you should invest in USB devices that can keep up with the pace.
CRM Software
CRM (customer relationship management) software is an upgrade that pays for itself. This software upgrade can change how you interact with customers, how you invoice them, collect payments, and more. CRM software also delivers the added benefit of cutting back on labor costs.
If you have yet to consider this software as a tech upgrade, you should. CRM is all about improving customer relations and upping the quality of your customer care while taking a lot of the workload off your employees.
Move Over To the Cloud
Cloud software and computing should be on your radar. It is better for your finance, it is better for collaborations, it keeps hardware needs to a minimum, and it is the wave of the future right now. A lot of small business owners have yet to tap into the power of cloud software and computing and they are missing out. Cloud computing means you and your team can connect from anywhere and stay connected.
Upgrades Are Important
Consider this in 2020, business owners spent about $132 billion on social media ad spending, which is expected to reach the $200 billion mark by 2024, yet they have invested less than $5000 in tech upgrades during the same period.
Tech is so important to your business that if you need to consider finance options to get those new laptops, CPU, or other upgrades it is money well spent. There are plenty of finance options that can fit into your budget and help you upgrade your tech where you need to.
Don’t let your competition pass you by because you do not have the technology to compete. Make the upgrades that will improve how you do business and keep you competitive.