Whenever more than a few business owners get together, the talk almost inevitably comes around to finding ways to improve sales and grow the business. Let’s face it, for any business owner getting to the next level is what keeps them up late at night. But not all growth is the same. With the wealth of new technologies for business, somewhere in that giant ball of innovation is the right tech for your business. So, what do the experts say?
We asked a room of experts at a recent tech symposium on business development what they would suggest to up and coming business owners who want to use the tech tools we already know exist to be bigger, stronger and faster. Here is what we heard.
It’s All About Data
One familiar theme we heard from several leaders in business technology is that making use of the data that today’s technology creates is crucial to real growth. Start by understanding what data is important for your business and what key metrics you need to use from this data.
If you are looking for financial investment in your company, this is the kind of data they will be looking for when they look at your business. The financial data you can get from global payment services that cull and gather from multiple sources is a good example of this. Even something as simple as using your Google Analytics tool on your website will give you good insight.
While most businesses are aware that being visible is important, these days it goes a step further. You need to have your brand everywhere to be successful. This means having a presence across the web and especially on mobile. In fact, several speakers mentioned mobile specifically as the biggest threshold most businesses need to cross when it comes to making their brand visible and successful.
As part of this quest to be seen everywhere, many mentioned that you also have to think global these days to succeed. While that doesn’t say that you need to be everything to everyone, you do have to understand that geography is no longer the barrier it once was. Companies like AltaPay that specialize in creating global gateways for payment across platforms is a good example of how we have learned to adapt to thinking without political boundaries.
Test, Model and Create Prototypes
Another theme among many of the responders to our query was that in today’s market it is better to test new products before launching. There are so many ways that you can do this, and in the fast-paced world we live in you need to know before you launch how that product will be received. Prototypes or test models before you launch will give valuable information for both the engineering side and the marketing side.
The bottom line is always that when you do launch, any mistakes or poorly planned models will quickly be seen on the web and you will have lost your opportunity for success. Word gets out way too fast on failed experiments for anyone to launch without some prototype testing before.