Have you ever asked yourself: Is technology my friend or foe? You may find yourself on one side or the other, or maybe somewhere in between, similar to that of a love/hate relationship. We’ve all been there. There comes a level of excitement when the newest trends in technology hit the shelves. We anticipate all the ways our lives will now go more smoothly. We truly rely on them. Then there are those days we want to scream at the top of our lungs and throw that piece of technology out the window.

In today’s world, technology has made incredible strides. It’s become increasingly advanced, making our personal lives and businesses more accessible. And for small business owners, technology has made a considerable impact and should be considered a major asset. It’s helped them reach new markets, streamline daily operations, and even allow for more accessible communication between customers and employees alike.

Marketing
Technology allows you to reach audiences you otherwise wouldn’t be able to get. Social media and search engine optimization are two great examples of how technology can assist with drawing in a larger audience. Various social media platforms make it simpler than ever to interact with customers. They can receive answers to questions regarding your products at a moment’s notice. You can also gain helpful feedback from users.

Automation
Another way technology has become helpful to small businesses is by streamlining operations. This can be seen by implementing different software programs to improve your day-to-day operations, such as automating invoices and employee paychecks, tracking customer data, or managing your business inventory. The result is better efficiency within your business. By freeing up some time, you can use that energy properly by strengthening other areas of your business.

Communication
Communication is vital to running a flourishing company. How we can communicate has expanded dramatically. Technology makes it extremely easy to contact one another through emails, texts, and FaceTime. All you have to do is pull out your phone. Video conferencing through platforms such as Zoom makes it possible to hold meetings without everyone needing to be in the same place, which can be a time saver for small business owners.
The biggest challenge that technology has on small businesses is most certainly the expense. With the constant technological advancements, it may take a lot of work to keep up with the costs of purchasing the newest trends. And let’s face it; technology is costly. That is why you need to do your research before making any purchases. Only invest in tools and resources that will contribute to furthering your success because if you aren’t careful, you could be wasting tons of money on unwarranted purchases.

We’ve all become aware of the greatness technology offers in our personal and business lives. Technology will add to your success by opening up and expanding your audiences, streamlining operations, and providing easy access to communication. By making informed decisions, you, too, will see how vital the benefits of technology will be to your business. All in all, technology seems to be more of a friend than a foe. Now, wouldn’t you agree?