Attention Entrepreneurs: Stop Wasting Money On Technology!

Last Updated on May 26, 2019 by Jessica Adams

It’s quite an understatement to say that technology plays an important role in 21st century business. There was a time when technology was an exotic power wielded only by a select few. Today, it’s completely ubiquitous. We take technology with us wherever we go and we feel naked without it. Whatever the nature of your business, it’s unlikely that technology doesn’t play a vital role in your business operations. Technology keeps businesses agile. It enables them to adapt to the challenges that come with a fast-changing technological landscape. It is in this landscape that consumers and competitors are becoming more digitally savvy. But just because technology is a fundamental part of doing business today, doesn’t mean that entrepreneurs should have to have every piece of tech on the market.

In fact, entrepreneurs need to hear this, stop wasting money on technology! As important as it is to invest in technology that will increase your output, it’s also important to combat wasteful spending. This is especially true if you expect to see a future that’s filled with healthy profit margins. We should focus more on technology that helps boost productivity or make our lives as entrepreneurs easier. But technology can become overwhelming for some small businesses. Since we don’t want to waste money on technology, here are some tips to make the technology you buy more cost effective, without compromising our productivity.

Attention Entrepreneurs:

Stop Wasting Money On Technology!

Base Your Approach to Purchasing On Client Feedback

It’s easy for people to sign off on a fortune spent on technological bells and whistles, when they’re not the ones footing the bill. It’s also easy to tell yourself, “there’s a possibility that this could bring value to my brand”, but that does not necessarily make the purchase ‘money well spent’. Ask yourself this, “Will my clients benefit from this buy? Will they appreciate or even recognize the value behind this purchase?” If you can’t say yes to either of those, DON’T BUY IT! Instead, use market research and take steps to ask for client feedback. Base your approach to tech purchases on their perspective. If it’s not something they’d benefit from, it’s rarely a sound investment.

Embrace the Cloud

Some entrepreneurs are still a little skittish when it comes to bringing parts of their operation to the cloud. This is a shame as Cloud Migration Services can be extremely cost effective with minimal disruption to your operations. They can facilitate remote working, reduce environmentally harmful e waste and improve your enterprise’s cyber security. Best of all, they can be scaled up or down depending on the needs of your business so you know that there’s never a penny wasted. Now, if that’s not the definition to “not wasting money”, I don’t know what is?

Use FREE Software (it’s most likely better than paid software)

We’ve been conditioned to believe that you get what you pay for. While there are many cases where this is sound advice, technology purchasing isn’t usually one of them. There are, however, a few obvious cases where that advice SO WRONG. Let’s say you’re currently paying for a software application that helps you with Productivity and Time Management. Did you know that there are over 200+ FREE options on the web and on your phone in that category?

If you’re willing to look, there’s a good chance you can always find a free equivalent to a paid software app that’s actually superior to the paid app. Google Docs is a great example of an outstanding word processing platform that’s totally free! Remember having to pay a ton of money for the entire Microsoft Office SUITE, even when you only wanted to use Word or Excel?

Always Keep an Eye Out For Discounts

Just as you keep an eye out for great deals and promotions at the grocery store, so too should entrepreneurs become seasoned bargain hunters, when it comes to their technology budget. One great way to check out a lot of stuff in one place, would be the forums on Slickdeals.net. They’re full of great deals submitted by users of all sorts of great technology finds. I don’t know about you but I tend to favor reviews of any kind from the user of a product. You’re more likely to receive an honest accounting of a buyer’s experience with a product other than if you just read a statement from the manufacturer.