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How to Make Technology Work for Your Small Business

Indeed, cash flow will always remain a challenge for smaller businesses as they operate on smaller budgets. But the Internet and technology has opened up an avenue for small businesses to reach global markets just as effectively as huge corporations. Let's look at a few ways in which you can make technology work for you.

Author: Chris Haycox
Date: Dec 29, 2010 - 12:03:12 AM

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In decades past, small and start-up businesses were constrained by budgets and cash flow. There were limits to the reach they could extend into the marketplace because advertising and marketing simply cost too much. The cost of operating on a large scale was beyond the reach of small businesses, and equipment and technology came at a high price. Today, however, technology has done a lot to even the playing field for the smaller guys. Indeed, cash flow will always remain a challenge for smaller businesses as they operate on smaller budgets. But the Internet and technology has opened up an avenue for small businesses to reach global markets just as effectively as huge corporations. Let's look at a few ways in which you can make technology work for you.
 
Keep Operations Lean and Cost Effective
 
It is not necessary to have a corporate office space. More and more entrepreneurs are working from home or taking premises in the more affordable side of town. Much less business is done face-to-face so it is not necessary to have an impressive office suite.  All you need to have is a functional space. It just needs to be somewhere where you can have a desk and chair, an internet and phone connection, and perhaps a plug for the coffee machine. Using technology, you can operate your business from just about anywhere. You don't even need to be office-bound. If you are heading out for a meeting and arrive early, you can use that time to catch up on emails or respond to queries.
 
Use the Virtual Environment to Employ Staff
 
Taking on employees is a big step for a small business. Having to pay salaries or wages during the quiet months when the business is not coming in can put a serious strain on the cash flow. Thanks to technology, there is now a wealth of expertise available online. You can contract the services of professionals as you need them without having to take on a long-term commitment. You can get a higher level of expertise because you will only be using them for a set project. You can also use a variety of different people depending on what you need at the time.  In one month, you may need someone who can help you catch up with your admin and organize your time. The next month, you may need someone to make sales calls and set up appointments. You could use one person to write a report or newsletter and another to proofread and format it for you. There is a wide range of expertise available to you and as a small business owner, making use of this expertise can help you grow your business without draining your cash flow.
 
Keep Telecommunications Costs to a Minimum
 
It is probably necessary for you to have at least one telephone line. A few years back, it used to be necessary to have two three lines for fax machines and credit card machines. For each line, you would pay for rental and use so your telecommunications costs double or triple each month. Technology now provides a way for you to operate wirelessly to process credit card payments and send faxes online. Online faxing is possible one of the single most effective ways to reduce your telecommunications and operations cost. Online faxing uses your existing internet connection to connect to a fax server and send faxes. It also makes use of your existing computer hardware and software so there is no need to purchase, rent or maintain a separate fax machine. Using this system, you can reduce your phone lines down to just one line. At the same time, you will be saving substantially on your telecommunications costs.
 
Use Online Marketing Avenues
 
Traditional advertising certainly still has its place in the market but it is still very costly to maintain. Through technology and the online environment, you as a small business can have access to almost limitless amounts of customers. Get to know how to make the online environment work for you. By using blogging and social media, you can get a whole lot of exposure for your company and products without spending a cent. You can then link that in to advertising that you only pay for when people make an inquiry with you or read your advertisement. It is a far smarter way to promote and grow your business.

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View all articles by Chris Haycox

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