In 2016, there were more than 1.6 million small- and medium-sized businesses in Canada. More than 54 per cent of them have just one to four employees. South of the border in the United States, 75 per cent of all businesses are non-employer businesses. To say that many small business owners could use a little extra help is an understatement.
Unfortunately, employees are one of the highest overhead costs in any company, and most businesses simply can’t afford to hire enough people to get everything done. Short of cloning yourself (which might one day be an option), what’s the solution?
Might we recommend technology?
Small businesses are uniquely positioned to take advantage of new technologies. For starters, who needs tools that boost productivity more than entrepreneurs? Most small businesses are also relatively new businesses. In general, small businesses are willing to take bigger risks and are less bogged down by bureaucracy and multiple decision makers.
While big businesses can boast infrastructure, market share, and long track records, entrepreneurs are using technology in ways that allow them to directly compete with big business without the overhead of massive office space or armies of workers. Collectively, small businesses spend billions on technology each year, and 80 per cent of companies believe technology plays an essential role in their plans for growth.
If you’re not sure where your technology dollars should go, here are some options.
Technology that Helps You Get More Done
- Cloud computing
- Video conferencing
- Mobile apps
- A CRM platform
- Automated marketing
Working Out of the Office
By 2022, 60 per cent of office-based workers will regularly work from home. For many entrepreneurs, virtual employees are easier and cheaper to hire, but that setup wouldn’t be possible without the help of technology.
Cloud Computing
In the cloud, there are no large upfront investments, time-consuming upgrades, or bulky physical equipment. With cloud computing, entrepreneurs can use powerful software and share digital materials across the world without the large IT department it would otherwise require.
Video Conferencing
Projects can move forward, details can be discussed, and leaders can manage their teams (almost in person) with video conferencing.
Mobile Apps
Over half of all Canadians own and use a smartphone. While that has huge implications for business marketing, that’s also huge for small business owners who simply don’t have enough hours in the day. Mobile communication tools for email, conferencing, chat, and document sharing mean you can skip hiring a go-fer and handle your business from a hotel, during a client lunch, or while traveling to a convention. To find apps that will help your business run more smoothly, check out the AppExchange, the largest business app marketplace.
Sales, Marketing, and More
One of the most important factors of growing any business is investing in marketing and sales. The more money you can bring in, the better, but hiring more people for your sales and marketing teams isn’t always possible. Here, technology comes to the rescue yet again.
CRM
Customer relationship management systems help you keep track of leads, customers, investors, and anyone else you want to target sales, marketing, or service to. They put customer information at your fingertips, enabling you to do it all. And if you do eventually hire more people, a CRM helps you collaborate across teams.
Automated Marketing
If hiring more marketers isn’t in your budget, you need automation. Automated marketing systems can streamline your social media marketing by scheduling and sending posts out across multiple channels with just a few clicks. It can generate social posts as soon as you hit the publish button on a blog post. And it can automatically send out targeted, personalized emails as soon as a customer joins your list, makes a purchase, or triggers another marketing opportunity.
Data for All
Every entrepreneur knows their own business best. But not all business owners have the same expertise when it comes to what customers really want. That’s why you need data. With today’s technology, you can track likes, clicks, conversions, purchases, and loads of other digital information. With cutting-edge analytical tools, you can view all that data in meaningful ways that allow you to take immediate action.
Conclusion
Every entrepreneur could use a few extra hours in the day. But before you pour your capital into cloning research, check out Salesforce. Our cloud-based solutions extend far beyond sales platforms to automated marketing, mobile apps, data analytics, and community management.
