If you could create your own fantasy Board of Directors who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, a CO— reader asks how to know when the time is right to invest in technology that will facilitate growth.
Anne Chow, President of National Business for AT&T, answers...
The time is now for everyone to make the right investments in technology. Businesses can’t continue to operate without technology and expect the same business outcomes. Even if you can only invest a little at a time, that’s okay as long as you stay focused. Start small and scale it.
Educate yourself
Step one is to get educated on what technology can do for your business. Many may not realize the abundance of options out there that can simplify business processes and improve experiences for customers, employees, and partners alike.
Retail is an excellent example. Technology can add immense business value from bringing speedy Wi-Fi that not only makes customers happy as they browse on their phones, but also speeds up credit card transactions, online order processing and so much more. Cloud storage and transactions are becoming more affordable, intuitive and more highly secure than ever before.
It doesn’t matter where you are on your technology journey, it just matters that you are on it.
Anne Chow, President of National Business for AT&T
Figure out what you need
The second step is to assess you pain points. Are your customers or employees in need of something specific? Are our competitors outpacing you in a particular area of your market offerings? Chances are technology can help solve these issues, enabling you to compete for growth more effectively. Need faster internet? Consider fiber. Do your employees need access to business files on the go? Think about cloud adoption. Worried about protecting your customers’ information and the valuable intellectual property of your business? Be sure to investigate security solutions.
I’m a big fan of using a consultant or a third-party expert to help access your business needs. Some may see this as an added expense, but in the long run, experts and trusted advisors are an excellent option to help you solve business problems, better capitalize on market opportunities and help you better position your business for growth.
It doesn’t matter where you are on your technology journey, it just matters that you are on it. Take the time to assess your business, consider your options, and make the investment to get it right.
Who's on your fantasy Board of Directors? Email us at co@uschamber.com and tell us what you'd like to ask them. We'll do our best to make it happen.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
CO—is committed to helping you start, run and grow your small business. Learn more about the benefits of small business membership in the U.S. Chamber of Commerce, here.
