When it seems like every idea has already been patented or brought to fruition, that’s a key indicator that innovation in your company is lacking. Traditionally, advancements in business technology have driven innovation for companies. If your company’s innovation well is running dry, then there are measures that your business can take to become more innovative.
We all like to think that our businesses are the most influential in our chosen field. However, the true scope of how true this is, lies not only in your expertise, but also with your clients. If they aren’t satisfied, you can be sure that this fact will reflect itself in your sales figures.
How involved in your operations is your IT department? Does your SMB even have an IT department? Many organizations tend to consider IT an afterthought because they don’t believe themselves to be targets for hackers, or don’t anticipate costly technology issues. However, these business owners underestimate the power of complete transparency between an organization and IT.
When was the last time you provided your business with improved technology that offers a great return on investment? If your business is using software and hardware that hasn’t been updated in several years, the same technology that’s necessary for your operations could be holding you back from achieving optimal efficiency.