Technology has the power to change a business for good, but not keeping up-to-date with technology can also cause it to sink. Keeping up with the latest tech is a business owner’s responsibility, especially in a world that runs on technology. Without the latest tech, your business could miss important opportunities, or worse—you won’t appeal to a large population of your customer base who utilize tech in their purchase decisions.
So, how do you know if your “tech deck” needs an update? Let’s take a look at five signs that prove you’re not keeping up.
1. You’re Falling Behind
If you look around at your competitors and see them excelling while your business is going under, it’s time to take a much closer look at why that might be. Chances are, they’re doing something in terms of processes or using certain technology that’s putting them ahead. If you’re not savvy to these changes, you can bet your customers will eventually make their way to your competition.
You might need a video conferencing solution that isn’t VHS-quality, or a new POS system that accepts something other than cash. Or, you might need to update your social media platforms, website, or e-commerce marketing. Whatever the case may be, it’s important to take an honest look at what you really need. Even if you’re not a tech-enthusiast, technology plays a role in the modern business, and it’s one you can’t afford to ignore for much longer.
2. Customers Are Asking Why You Don’t Have Certain Tech
This is when things get a little uncomfortable. If you’ve noticed an influx of customers asking why you don’t have x,y,z tech in your store or website, it’s probably time to pay attention. Many businesses choose to stay in the past simply because of stubbornness or misunderstanding regarding the tech. Ignoring the technological needs of the modern business will leave your customers guessing, and, eventually, scare them off.
Your customers are the lifeblood of your business. What they want, what they need, and how they feel about your business should be your number one priority. If you notice a trend in customers asking about certain tech, maybe it’s time to look into it before you lose those customers forever. Of course, this doesn’t mean bowing to every customer request, but things like POS systems are viable upgrades to your business that you should take seriously.
3. You’re Having Trouble Communicating Within Your Business
Communication is more important to a successful business than you might think. The way you communicate with your employees, assign projects, and communicate with customers or clients can make a huge difference in both the synchronicity of your team and the financial success of the business.
If you’re still using email chains to communicate and assign projects, you’re living in the past. Email had its heyday, but project management software is here to provide an easier, more organized workflow for you and your time. And, in addition, online meeting software can help you avoid those tiresome landline conference calls.
Project management software helps you assign projects, track their progress, assign certain team members to individual parts of the projects, and set deadlines within the interface. You can also communicate within the software, so it’s goodbye to email chains and fumbling over week-old emails you never responded to.
4. You’ve Ignored The Latest Tech For Years
If you’re one of those stubborn business owners who’s actively avoided the latest tech for several years, you’re already falling behind and your business is suffering because of it. For some, it’s difficult to embrace change, but doing so can introduce you to new and exciting things. Don’t ignore the technological advancements that come your way. Your competitors certainly won’t, and you wouldn’t want something like an outdated POS system to put you out of business.
5. You Have A Security Problem
As technology has advanced, so too has the security problem associated with outdated technology. An outdated website is more likely to be hacked, and an outdated POS system can be tampered with. Even faulty meeting software can be accessed by unauthorized users, exposing company secrets or compromising your client calls. The bottom line? If you’re not using the latest technology, you’re still exposed to the latest security threats, only you’re poorly equipped to handle them.
Security has become a serious concern in recent years, with cybercrime rising significantly just this year during the pandemic. If you’re not protecting your information and your customers’ information, why should anyone use your products or services? Security is a prime concern for any business, and the best security measures often require the latest tech tools.
Technology plays a vital role in business nowadays, and as a business owner, you can’t afford to ignore the latest trends. Your security, customer base, and the very business itself could be at risk if you actively ignore changes in technology. See how technology can work for you by upgrading some of your oldest equipment and adopting new processes.