The U.S. Small Business Administration data says that 50 percent of U.S. small businesses will go under in less than five years. Experts say that success is no longer just having a great idea or putting in the long hours to make a profit, but new business owners are struggling to keep up with rapidly changing and expanding technology.
Businesses that do not keep up with technology lose their competitive edge. It’s not just being online, but understanding the many ways that customers use technology to engage with the businesses.
Save time on your payroll with mobile and tablet apps. If you are taking more than a minute to run payroll, you need to look into some online payroll tools
Protect Sales. New EMV chip-enabled credit card readers are supposed to replace the old magnetic strip readers by October 1, 2015. Stores that do not upgrade can be held liable for fraudulent credit charges run on the old machines.
Visibility. You need to have an online presence. It is not enough to have a web site. You have to be able to drive customers to your pages. If you are not familiar with search engine optimization (SEO) formulas and how to improve your search results ratings, then you need to invest in digital marketing experts to help you build and implement your strategy.
Connected. Sites like Linked-in help you stay in contact with others who share your passion or industry know how. Take online classes, participate in webinars, and keep up with industry trends through blogs and other online data.
Maximize your tax situation. Online resources can save you a bundle on tax day. The days of relying only on the local tax guy are gone. You now have access to experts in your field who can help you with deductions and tax credits you may have never thought of. Tax law changes so frequently that no one person can keep up with it all. Use the internet resources at your fingertips to your advantage.
Security. It’s not just credit card fraud you need to worry about. When you add an online component to your business, you need to protect your virtual data as well. Create difficult and sophisticated passwords that are frequently changed. Perhaps even hire an online security service.
New technology is not always the easiest to keep up with, but by picking the five or six most important components to start with may help. According to Black Enterprise, “Many of these services are more affordable than you think, are easy to update and offer anytime, anywhere access to experts. These tech tools can swiftly fuel your business operations, streamline processes and save you time and money.”