In 1995, Newsweek published an article about how the Internet was a passing fad. The piece argued electronic interactions would never become popular and there was no way online shopping could take the place of visiting stores. In 2015, it’s pretty easy to look back at this article and laugh, but some small business owners still make the same mistake.
In the modern era, technology constantly evolves. It would seem obvious at this point that technology advancement is not going out of style. So why do some small businesses still shoot down every innovation that comes their way? Here are three reasons companies may be slow to adopt technology solutions:
1. Content with previous investments
A lot of business owners don’t listen to new ideas because they want to believe the resources and procedures they’ve invested in were the right choice. If a small business utilizes old technology assets and receives satisfactory performance, why should it look for new answers?
Odds are something will come around to force change. Usually, it’s a competitor profiting from technology implementation and stealing customers. CNBC said small businesses that had to upgrade point-of-sale terminals to comply with 2015 credit card company rules should look into taking new payment types like Google Wallet or Apple Pay.
Keeping abreast of technology prepares an organization to implement new ideas when market shifts forces its hand. Plus, watching for consumer changes allows a company to follow customers and appeal to audiences competitors may miss. A security dealer that accepts payment through better alarm billing solutions stands out in the modern market.
2. Not sure of the ROI
The Newsweek article was especially funny when the author tried to imagine how people could use the Internet in the future. He couldn’t seem to wrap his head around digital cartoon characters teaching children or consumers buying items with electronic shopping carts. Many small business owners ignore new solutions because they make big promises, but do not have proven results.
If technology is truly innovative, it’s hard to predict its value based on existing metrics. Some businesses get over this fear by making small investments and testing the results themselves. Business News Daily said many companies integrate cloud data storage into procedures by utilizing a hybrid cloud solution. Instead of moving the entire infrastructure off-premise, a small business may host a single project or certain datasets in the cloud to take the new solution for a spin.
3. Small business owners have to trust others
CMSWire, a digital customer news resource, suggested many business owners speak favorable of technology, but fewer actually implement it. Business owners may admit cloud solutions seem flexible and convenient, but worry about off-premise data security.
Sometimes business owners don’t implement new technology because it would require relying on someone else’s expertise. Entrepreneurs often start businesses because they want to run things on their terms. Technology advancement may call for new solutions, and business owners don’t want to put responsibility into the hands of people more familiar with the tools.
Finding the right technology partner is crucial to proper innovation implementation. If a security dealer wants to find a security business software solution, it must contact a consultant that can answer questions and provide technology while allowing the company to keep control.