A survey by Deloitte shows that 99% out of a thousand small and medium-sized business owners use at least one technology tool in their daily operations, according to smallbizgenius.com. Every entrepreneur starts their venture with growth as the ultimate goal. But the most challenging part is how to grow a startup in the most viable and inexpensive way.
While there are many options in which you can choose to boost business growth, creating an effective strategy that embraces technology should be your top priority. Technology helps you automate business and communication functions, one of the utmost efficiency secrets for small business owners. Automating processes increases productivity, streamlines tasks, and reduces operational costs.
If you’re setting up a new business or expanding your venture, here are 3 ways you can harness technology in small business growth strategies.
Leverage The Power of Cloud Technology
Cloud computing has many benefits, including improved team collaboration, data security, and scalability. Not to mention, you can access all your work from any location anytime. This feature makes cloud computing ideal for distributing tasks to remote workers. Given cloud computing improves collaboration, a key driver for growth, make sure to invest in cloud-based software. Tools like shared calendars enable you to schedule meetings, hold videoconferences, and share files via secure networks. This leads to better teamwork and eventually increased production time at the workplace. The cloud also provides data backup, preventing the loss of important documentation that could cost your business tons of money and reputation.
Embrace Technology As A Productivity Tool
Leveraging technology to fuel productivity is one of the best business strategies for promoting growth and success. With the right technologies in place, you can save time and money on repetitive tasks within your organization through automation. Automating different tasks, especially in the admin department, helps maximize efficiency and reduces costs. Admin tasks like communications, inventory-taking, project management, and scheduling require attention and could be a waste of resources if not automated.
Fortunately, there are many tools you can use to boost productivity in the admin department. For example, you could use Asana to plan projects and keep track of team performance. Microsoft Outlook is another excellent productivity tool because of its unique features that allow you to use it for scheduling. You can also use this software to enhance email communication within and outside your organization. All you need to do is master the incredible features it has to streamline daily tasks.
Use Big Data Analytics
If correctly utilized within your organization, big data can help fuel business growth significantly. With big data, businesses enjoy more efficiency, productivity and can predict future industry trends. This is because data analytics enables you to evaluate the wellness of your venture. That way, you can determine where you stand and what you can do to attain business objectives. You can also make informed decisions about business operations based on relevant information about consumer wants and market trends.
Technology is essential for developing and implementing growth strategies in your business. However, to get the most out of tech tools, you must harness them correctly. Consider using data analytics, use productivity tools, automate core functions, leverage cloud computing, and more.