Investing In The Right Technology For Your Business Will Help You Grow

Your business deserves the right investment in technology that will help you succeed in the long run!

That’s great, but just how do you invest in your business to improve growth? Stay tuned and find out!

Focus on Goals

Let’s start by taking a look at your business goals. By knowing your long-term and short-term goals, you can pinpoint exactly what your business needs to grow. This will help you make a list of features and specifications you’re looking for in a product or service. For example, let’s say that your number one priority right now is generating more revenue. Chances are that you’ll want to either grow the number of sales or decrease the cost for each sale, which makes this a perfect opportunity for some form of automation solution. There are tons of software options out there, so try narrowing down the list to fit your budget with this little equation: Cost per month=Total cost/monthly average revenue.

Usability and Durability

When choosing software, you’ll want to make sure that you pick a program that isn’t going to put your business out of commission. If the software or hardware you’re using is costing you money – or worse yet, costing your customers money – it might be time for a change. With extremely high maintenance costs associated with some programs, it’s good practice to search for “cheaper” (but still cost-effective) software that will help your business run smoothly and efficiently. A note on cheap: there is no point in buying cheap if it won’t be durable. Take printers, for example. A cheap off-the-shelf printer will not be designed to deal with business needs. Getting an industrial printer will be a better long-term investment. Click here to learn more about industrial printers.

Now It’s Time For A Focus On Security

Security is another huge factor we need to consider when researching or purchasing software. The last thing you want is someone hacking into your system and stealing sensitive data (not to mention account information). Always take the time to read reviews and get personal recommendations from people who have used similar systems. For example, an office printer is going to be less secure than a network of printers in a busy manufacturing environment. If you’re not extra careful, you could end up handing your competitors a huge advantage. You could even try speaking to the manufacturer directly and learn more about their security measures on this subject. Some manufacturers will go above and beyond in this area and be able to offer solutions that you can trust. You can even discuss extending your contract with them if they provide these services at an affordable rate.

Build Your Skills

Finally, what about you? How are you going to build your skills with this system? If you come in and just expect the new software or hardware to do everything for you, then chances are that it won’t. You need to learn how the system works. You need to understand how it operates and figure out how it can suit your company’s needs. You need to understand your business requirements before anything else.

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Steve has entrepreneurship in his DNA. Starting in the early 2000s, Steve achieved eBay Power Seller status which propelled him to become a founding partner of, a contact lens and eyewear retailer. Four years later through a successful exit from that startup, he embarked on his next journey into digital strategy for direct-to-consumer brands.

Currently, Steve is a Senior Merchant Success Manager at Shopify, where he helps brands to identify, navigate and accelerate growth online and in-store.

To maintain his competitive edge, Steve also hosts the top-rated twice-weekly podcast eCommerce Fastlane. He interviews Shopify Partners and subject matter experts who share the latest marketing strategy, tactics, platforms, and must-have apps, that assist Shopify-powered brands to improve efficiencies, profitably grow revenue and to build lifetime customer loyalty.

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