Believing These 5 Myths about Technology Keeps Small Businesses From Growing

Believing These 5 Myths about Technology Keeps Small Businesses From Growing

Technology is advancing everyday it seems. I often speak with small business owners who delay implementing technology solutions within their organizations due to misconceptions and also confusion. I enjoy these conversations however as they give me a sense of the challenges their business faces. While also allowing me to help them get through the hesitancy and assist them with realizing better gains.

While I have heard a lot of myths the below five are the most common ones I hear that have had the largest impact on driving small businesses further.

My business needs to be much bigger to realize gains with using Enterprise level technology

Normally, when I hear this myth, it relates to money.  Understandable some enterprise-sized IT solutions are on the costly side of things.  However, there are several solutions at various price points that can be used to streamline your business operations.  If you are not knowledgeable about them, then ask for assistance. Also, keep these three points in mind:

  • Automate – As a business grows, there is no way that you can continue to do things manually.  Also, your customers are becoming more dependent on certain operations and interactions to being automated.
  • Customer and Employee satisfaction – We all know that providing a pleasant error-free experience increases the bottom line.  If you are not leveraging IT solutions to reduce factors such as human error you do end up spending more money.
  • Inventory Control can be your biggest asset or liability – No matter your size, you have inventory to maintain.  If you do not have a solution in place for accurately keeping up with your inventory, you will realize big losses in both employees looking for something and getting product or services to your customers.  In both cases, you will experience losses.

Technology is Expensive

Not necessarily, true if you are going for a solution offering from a large company, the costs can become restrictive. However, what is the cost to your business for not having a solution in place?  Yes, some offerings can be costly, but with the IT ecosystem of today, there are practically lower cost offerings available as well. It just takes having a Trusted Advisor in place whom you can consult with to have options presented.

Security is not as important as it is for large companies

I often hear, “we are too small for anyone to want to hack our data.” This may be true that your business is not one that you would typically think of as being a target for a cyber attack.  However, think about your clients and suppliers who could be targets.  Typically, when a data theft or a cyber attack occurs all connections to the large target become susceptible to compromise.  So consider the reputational and financial costs if it is determined that your lack of security solutions was a conduit used for an attack against a client of yours?

My Customers don’t use Social Media

According to statista.com, approximately 79% of the U.S. population use some form of social media in 2019. That is almost eight in ten people in the US use social media.  A counterargument I hear is that this does not apply to older adults as much.  However, think about how many people in this category have people who influence their decisions.  If you want to move your business forward, you have to have a social media strategy in place, or you risk losing more of your current customers through attrition as we move further.

Cloud Migrations are complex

Businesses and organizations are moving to the cloud.  I will not go into the benefits here as there are thousands of articles on the topic.  However, one issue that businesses have with migrating to the cloud is the perceived complexity of doing so.  However, this is not necessarily true. If you have a plan in place to what you are going to migrate as well as a timeline in place as to when it becomes relatively easy.

If you find yourself at a crossroads of having to move forward with IT Solutions, please contact me. I can help you get to a position where your business will grow even further.

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