- Elon Musk, Investor & Entrepreneur
We live in an age where we rely on technology all the time (try and tell me otherwise!). After all, the Internet is widespread and available both in private residences and public places. For this reason, technology has a huge impact on society and how we run and market business.
The real question that begs to be asked is how positive is this impact? What are the downsides and is technology really dumbing us down to the point where we won’t even be able to think for ourselves? -Maybe that’s a conversation for another day.
For now, we want to share how you can leverage your business simply by using current technology. Start thinking about the emergence of automation and artificial intelligence (AI). How will this technology save you time, money, and frustration? For starters, begin looking at the menial tasks in your workforce, these will be the first to be automated effortlessly by a computer or robot.
With the growth of cryptocurrency and the blockchain, you might even see more digital transactions occur beyond the use of a regular credit or debit card.
You can reach (almost) anyone in the world
The good news is that technology can connect us with almost anyone in the world. We’ve said ‘almost’ to include people in remote locations and those without the infrastructure available to support such technology. Here’s how you can get in contact with people:
- Social media: There’s Facebook, Instagram, LinkedIn, Twitter, WhatsApp and so many other social media platforms that exist. Take advantage of these platforms to build your online presence both as a point of contact for existing clients and to attract new audiences.
- Email: Not to be outdone, email still reigns supreme as one of the best communication tools on the Internet. Messaging apps haven’t killed off email. Not now and not for a long time. People rely on email for more than just communication. Now, you can say receive newsletters, vouchers and deals from your favourite retailers too – a popular method for businesses to ensure database and membership retention.
- Smartphones: There’s a good chance the majority of people use a smartphone for most of their long-distance communications. Not to mention, we all take our phones everywhere we go.
For these reasons, it’s now easier than ever to start an online business that is able to reach your target audience any time or from any place. Which leads nicely into…
Starting a new business has never been easier
Yes, it’s true. Starting a business is easier with technology. Especially when all you need is a computer and a WiFi connection to start. Not to mention, the costs of starting an online business is greatly reduced compared to brick and mortar.
Let’s explain the ways you can save money compared to traditional business practices:
- Commercial space: You don’t need to spend a lot of money on an office space. Your office space could be in a spare bedroom at home, a corner table at a coffee shop, your local library, or just about any place where WiFi is available. Aside from the rent or mortgage you pay on your own home, the cost for the workspace you use most of the time will be free.
- Advertising: Suppose you want traffic to your site. The quickest way to do this now is to use a paid method such as Facebook or Google ads. The cost won’t be too high and you set the budget. Meanwhile, TV, radio, and print ads still cost you a pretty penny.
- Overhead expenses: The overhead expenses will be fairly small compared to standard businesses. To be safe, take note of these top 5 mistakes people make when starting a business to stop you from drowning in overhead expenses that may end up draining your finances.
What are the environmental impacts?
Technology has both a positive and negative affect on the environment, but for now let’s focus on the positive. For example, you rely on less electricity when using fully charged devices (and you save plenty on your utility bill).
Technology has also allowed us to work from home, meaning you don’t have to commute into work as often. Vehicles used on an as-needed basis = less carbon emissions from your vehicle (and you burn less fuel). Of course, if public transportation is available in your area, you can rely on that when you commute from one place to the next.
You can also help the environment by simply using technology that is efficient and energy saving. Whether you use it for a few minutes to a few hours, you won’t have to suck up a lot of energy in the process. A lot of computers and devices are looking to become more energy efficient with their latest models.
Technology is certainly more advanced than ever and is making life scaringly easier, especially when it comes to starting a business or tracking someone down. If we were to summarise all of our technology breakthroughs today to someone say three decades ago, people would have seriously laughed in disbelief. So, here’s to a bright future for technology and all the positive impacts that will come for our businesses.
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Thought leaders & celebrities share their tactics for success on the Lisnic podcast by Lisa Teh & Nick Bell