Insight #18 - Get Technology Leverage

Moore’s Law (technology doubles every 18 months with costs deceasing by half) has facilitated incredible changes to business processes, and there’s no end in sight. The Internet, email, Google, laptops, PDAs, database technologies, web video, web audio, e-commerce, and automated contact management tools have created exciting new possibilities for small business marketing, sales and customer service.

Clever entrepreneurs are now taking full advantage of Web 2.0 technologies to build their businesses by leveraging automated processes, interactive tools and online services in ways that allow them to improve literally every aspect of their enterprise – often in profound ways.

From a sales, marketing and customer service perspective, the Internet and interactive technologies provide the potential to improve and even reengineer virtually every step of your customer’s experience, which clever companies are using as tools for competitive differentiation.

The decreasing cost of technology has created field-levelling competitive advantage for smaller, nimbler and more innovative companies to compete toe-to-toe in a domain once reserved for the big guys. Taking full advantage of Internet and other contemporary technologies will unquestionably pump up your profits with increased operational efficiencies that decrease costs, while substantially improving revenues through sales, marketing and customer service performance.

Tip #18: Be sure that you’re using every possible application of interactive and Internet technology to drive your business. Make note of all the tools, technologies, services and time savers that you have seen on the Internet and try to imagine all of the ways that technology can enhance your business. You’ll be amazed at how much return on investment the right tools can provide, and how inexpensive they can be to implement.