To build a business quickly and ensure it can compete in the markets early, you must be ready to empower it technologically.
Because there is so much software available today via the cloud that can be used through subscription plans, it’s not unthinkable to have it put on the same playing field that many big businesses and well-known brands occupy.
But you still need to know what tools you should use and how they can improve your overall revenue stream.
Here are five secrets every business should know about important technology.
1. Branding is Not Just for Big Corporations
Traditionally, creating a brand has been a big corporation’s prerogative. Branding is perceived to be too expensive for smaller businesses.
Well, new technology has changed that. Today you can register your brand name, design a logo, establish your site – everything for free. It takes time and effort to promote your brand but it no longer costs a fortune.
2. Video Marketing Can Be Done Without Overspending
Video for marketing your business and increasing customer interest in your products is becoming more and more important today. Not to mention it’s a way for them to get to know you even better. In the past, putting together high-quality professional videos for ad campaigns or newsletter purposes has been extremely costly and required huge budgets for the marketing department.
Video cameras and even good webcams are improving and making it possible to create good video stories without hiring professional videographers. And video production software is much more affordable now and doesn’t necessarily take a highly experienced editor to use it.
3. Self-Training Software Can Make For Even More Productive Employees
One thing about today’s younger workforce is how much they value certain independence while also making valuable contributions to a company.
And along with that, self-directed training programs have gained traction because they allow employees to become even more skilled and adept at their work.
Self-directed training software tends to offer a little more intrigue to its users and can help them move vertically and horizontally in your company.
There are lots of WordPress plugins allowing you to put together a separate site consolidating all your self-training materials.
4. Dynamic Pricing Software Is Key
The popular daytime TV game show “The Price Is Right” takes on a whole new meaning when it comes to adjusting prices for your business.
Quality of product and having a lot of options for customers are major factors in setting prices. Still, if you can add the power of business intelligence technology to the equation, that could also make a huge difference.
It’s important to get the right dynamic pricing guide for starters, but you also need to have an analytical approach where you can use market data to fine-tune your pricing strategy.
Other things that can affect your pricing strategy are benefits customers may seek, such as paying less for buying early or more for faster service. It always pays to have structure when it comes to dynamic pricing.
5. Financing Doesn’t Have To Come Through Traditional Lenders
Despite establishing new financing means for businesses, many still try to go through the old channels to get it. It is true that SBA loans or funding from investors with deep pockets still have their place, but they are far from the only lenders in town.
If you’re looking for more financing options that don’t have as much red tape and can give you access to capital much quicker than the banks, you might want to look at online micro-lenders or peer-to-peer loans to get a jumpstart.
There are also merchant cash advances that can be used if you make credit card sales and don’t want to have to deal with credit inquiries. Building a sustainable business is also easier these days than it used to be a decade or so ago.
Basically, the way you built a business 20 years ago has changed a lot from the way you could do it today. Even if your startup budget is relatively small, today’s tools are not too hard to acquire.