The average business spends about 3% of its annual budget on business technology. With such a small stipend available, it’s important that business owners make the most of their limited resources. You don’t want to get your office up and running only to discover you’ve forgotten an essential asset.
But that’s the question, isn’t it? What’s an essential piece of business technology and what’s something you can go without? Depending on your industry, you may not even need basic technology assets. Invest in the business technology you need most. Here are seven must-haves for almost any business.
Business Website
The lifeblood of any business — yes, even those brick-and-mortar retailers — is the company website. Your website is an opportunity to share critical information with your customers, whether it’s your business address, email, or services.
Simply establishing a website expands your company reach as you can gain organic traffic through search engine queries. Running a company blog or optimizing on-page search engine optimization is a great way to gain more visibility and customers. If you want a website for your business, you have several options. A custom website will entail working with a designer or agency. While this is the most expensive option, it tends to offer some of the best results.
That said, small business owners can save money by creating their own websites. Coding experience is no longer necessary. Website builders like WordPress and Squarespace do most of the work for you. Just keep in mind you’ll have limited functionality and designs in comparison to having a website built for you.
Computing Power
Computers are the business medium of choice. You and your staff will have to rely on convenient, powerful machines that can handle your workplace needs. For some businesses, even the cheapest laptops may be able to get the work done.
After all, it’s possible you only need the use of a web browser. However, even large Excel sheets, messaging programs, and teleconferencing streams can require a surprising amount of processing power.
If you require more than the bare minimum, it’s best to invest in business technology that can be upscaled. This way you can later mandate the use of software with higher processing requirements. The computers will take it in stride.
Most businesses tend to lean towards laptops and other mobile devices. They’re simply more flexible and convenient. For that reason, consider something such as the Mac mini latest model.
Automated Invoicing
Unless you’re taking payments in person, you’ll want an automated invoice system to accept and organize compensation. The good news is most invoice software comes packaged with accounting functionality. That kills two birds with one stone.
There’s one caveat to working with an invoice system: some are better than others. You could lose business by utilizing inconvenient software or an invoice system that accepts a limited number of payment options.
For example, both businesses and individuals are familiar with PayPal. Problem is, Paypal doesn’t offer much in the realm of accounting assistance. You could instead use a system such as QuickBooks, but fewer customers may be comfortable with the service.
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Get a good handle on your options and decide which one is right for you and your customer base.
Cloud Storage
A business needs to work together. They call it a “company” for a reason. And when it comes to facilitating collaboration, nothing beats cloud storage.
With cloud storage, you can upload copies of your computer files on the internet. You or other employees can access the cloud to download and edit the files as you see fit.
Best of all, cloud storage can also work as a backup solution. If a key employee experiences a computer problem, their files are still accessible online.
Network Security
Do all your employees work in the same office? Then network security is a key concern. A single piece of malware can destroy critical data and steal personal or customer information.
Of course, security is also a concern when your employees work remotely. In that situation, the security software you install on company-owned computers should be powerful enough to get the job done.
In either case, it will be worthwhile to find a professional IT service for small businesses. If they do their job right, you won’t notice they’re doing anything at all. Don’t fall in the common trap and assume it’s safe to get rid of them. Every business needs IT assistance for a reason.
Messaging Software
No matter where your employees work, business messaging software can make communication easier. A program such as Skype or Slack streamlines the texting process. You don’t have to concern yourself with unorganized and unprofessional mobile group chats.
In addition to texting, these applications come with teleconferencing and live chat functionality. Rather than burning your minutes on a phone call, you can talk to the whole company from the comfort of your personal computer.
Company Email Address
Too many small business owners overlook the importance of a business email address. This is especially baffling given how easy and cheap it is to create an email domain for your company. Not only does it give an air of professionalism, but it can help you raise brand awareness and show clients you take your business seriously.
What do you need to make a professional email address? Just a website domain. Seeing as you should already have a website, setting up your email accounts will only take an extra moment of your time and a small monthly surcharge.
Optimize Your Business Technology Budget
If you’re looking for places to trim your budget, look elsewhere. Investing in high-quality business technology makes it easier for your business to operate, compete, and scale into bigger and better projects. Just think of it as a return on your investment.
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