Benchmark Business Group

Productive Point of View: Technology

March 1, 2016

Technology! You can love it or hate it, but there's one thing that is clear:  it's here to stay. This means that as a business owner you must learn to deal with it. Otherwise, your business can suffer. Does that mean you need to adapt right now to technology? Absolutely not, but it does mean you need to think about technology from a strategic point of view. Today we'll be looking at the productive points of view business owners need to adopt when discussing technology:
  • You Don't Have to Be First, But You Can Be Too Late:  Did you know that Borders actually sold eBooks before Barnes and Nobel? It's hard to believe considering Borders closed their doors and Barnes and Nobles is surviving in an industry that was rocked by technology. Technology is not a magic solution. Implementing it won't suddenly fix your issues. Truthfully it will introduce new issues.  It's simply a tool. A tool you need to evaluate just like any other decisions, which leads us to...
  • It's All about Your Client:  We often hear from business owners that they simply don't like or use technology themselves. It doesn't matter. The productive point of view needs to be all about your client. Do they embrace technology? Do they use it? If they do, then you better be willing to embrace it. If they don't, you need to be asking strategic questions. Will they be using it in the near future? Will having technology allow you to better meet their needs? If your clients are using it or technology can enhance their experience, then you need to start preparing your business for the future. This leads us to...
  • Double Vision:  Technology is always a strategic game of short term and long term. You can guarantee that technologies will eventually disrupt your business. It may be next year. It may be 10 years from now. You will never know exactly when, but you do have to consider if you will be ready. And that starts here and now. It's looking at challenging your own mindset, learning basics so you can adapt when needed, and not being too far behind. Small steps now will ensure that when the market demands it your business will be ready.  This leads us to...
  • You Don't Have to Be an Expert:  As a business owner you don't have to be an expert at technology, but you need to know enough to delegate as needed. Technology is no different than accounting, marketing, payroll, or any other element of your business that is often delegated and sometimes even outsourced in your company. Abdication of the work is dangerous. You have to know enough to ask the right questions, always from the business point of view, but you don't have to be an expert.
This week we challenge you to simply think about how you view technology.

Identify the point of view that you hold and whether that point of view is productive or needs to be challenged. Join us next week as we look at ways to work with technology vendors.

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