10 New Technologies That Can Help Your Small Business Grow

If you’re like most small business owners, you wear a lot of hats. You’re the CEO, the marketing department, the IT support, and everything in between. It’s no wonder that you’re always looking for ways to get things done more efficiently. Luckily, there are a growing number of new technologies that can help small businesses like yours to streamline operations and drive growth. 

Here we check out 10 new technologies that can help your small business grow.

1. Social media marketing

If you own a small business, you may be looking for ways to grow your company. While traditional marketing methods can be effective, you may also want to consider using some new technologies to reach a wider audience.  

Social media marketing is one option that can be very helpful. By creating profiles on popular platforms like Facebook and Twitter, you can connect with potential customers from all over the world. You can share information about your products and services, as well as offer discounts and special promotions.

In addition, you can use social media to build relationships with other businesses in your industry. By working together, you can create a powerful network that can help your small business grow. 

Another option to consider is using email marketing. This involves sending out newsletters or other promotional materials to a list of subscribers. Email marketing can be an effective way to reach a large number of people without spending a lot of money. You can also use it to target specific groups of people who are more likely to be interested in your products or services.

2. Mobile payments

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If you own a small business, it’s important to stay up-to-date on the latest trends and technologies. After all, early adopters often have a leg up on the competition. One area that is rapidly evolving is mobile payments.

Mobile payments refer to any type of financial transaction that is conducted via a mobile device, such as a smartphone or tablet. There are a number of ways to accept mobile payments, including Near Field Communication (NFC), QR codes, and dedicated apps.

By giving customers the option to pay with their phones, you can make it more convenient for them to do business with you. In addition, mobile payments can help you save money on processing fees. If you’re not already accepting mobile payments, now is the time to start.

3. Cloud storage

In the past, small businesses had to invest in expensive on-premise storage solutions to keep their data safe. However, with the advent of cloud storage, businesses of all sizes can now enjoy enterprise-grade storage at a fraction of the cost.  

Cloud storage is perfect for small businesses that are growing quickly and need to be able to scale their storage capacity up or down as needed. In addition, cloud storage is more reliable than on-premise storage, meaning that your data will be safe even if your local servers go down.  

Since cloud storage is managed by experts, you can rest assured that your data is always secure. If you’re looking for a way to help your small business grow, cloud storage is a great option.

4. Online bookkeeping and accounting

Online accounting and bookkeeping can be a valuable tool for small businesses because it allows them to manage their finances in a more efficient and organized way. It also gives business owners the ability to track their expenses and see where they are spending the most money. As a result, they can make necessary changes to save money and increase profits.  

In addition, online bookkeeping and accounting can help businesses keep track of customer payments, liabilities, and even joint credit. If you looking for a joint credit meaning, is the process of two business owners sharing the same credit. To elaborate, it takes into account the combined credit history, income and assets of two or more business owners. All of this is essential for managing cash flow.

5. GPS tracking for vehicles

GPS tracking can be used to track the location of company vehicles in real-time, which can be helpful for several different purposes. For example, it can be used to track down a lost or stolen vehicle or to monitor the whereabouts of employees.  

GPS tracking can also be used to optimize route planning, ensuring that employees are taking the most efficient routes and saving time and money. In addition, GPS tracking can be used to monitor driver behavior, such as how fast they are driving or how many stops they make.  

By using GPS tracking, small businesses can gain valuable insights into their operations, and make changes that can improve efficiency and bottom line.

6. Employee time tracking

In today’s fast-paced business world, it’s more important than ever to keep track of employee time and attendance. New technologies can help your small business stay ahead of the curve by providing accurate, real-time data on employee hours 

This information can be used to make informed decisions about staffing levels, scheduling, and even compensation. Employee time tracking can also help you identify patterns of absenteeism or productivity issues.  

By using new technologies to track employee time, you can ensure that your small business is running as efficiently as possible.

7. Project management software

This kind of software can help you to keep track of all your ongoing projects, assign tasks to team members, and monitor deadlines. Having everything in one place will help you to stay organized and on top of your workload. Additionally, many project management platforms offer features like real-time chat and file sharing, which can further improve collaboration within your team. 

Implementing new technologies in your business can be a big undertaking. However, the benefits often outweigh the costs. When used effectively, project management software can help you to get more done in less time, freeing up valuable resources that can be reinvested in other areas of your business. In today’s competitive landscape, anything that gives you an edge is worth considering.

8. Customer relationship management software

In the business world, it’s all about relationships. Building strong relationships with customers is essential for any business that wants to thrive. Customer relationship management (CRM) software can help small businesses build and maintain strong customer relationships.  

CRM software helps businesses track customer interactions, manage customer data, and automate customer communication. In addition, CRM software can help businesses track sales opportunities and provide valuable insights into customer behavior. As a result, CRM software can be an invaluable tool for small businesses that want to grow their customer base.  

Thanks to CRM software, building and maintaining strong customer relationships is easier than ever before.

9. Inventory management software

In any small business, inventory management is key to success. You need to know what you have in stock, how much it will cost to replace it, and when you need to reorder.  

In the past, this was a time-consuming process that involved maintaining physical records and doing regular countdowns of your stock. However, there are now a number of different software programs that can help you manage your inventory more efficiently. These programs can track your inventory levels in real time, generate reports on your sales and stock levels, and even send automatic reorder requests to your suppliers.  

As a result, investing in an inventory management system can save you a great deal of time and money. And with the increase in accuracy and efficiency, it can also help your small business grow.

10. E-commerce platforms and tools

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Over the past few years, there has been a dramatic shift in the way that businesses operate. With the advent of the internet, more and more businesses are moving online. As a result, there is an increasing demand for e-commerce platforms that can help businesses to reach a wider audience.  

While there are many different e-commerce platforms available, choosing the right one for your business can be a challenge. To help you make the best decision for your business, here are three of the most popular e-commerce platforms: 

Shopify: Shopify is a leading e-commerce platform that offers a wide range of features to help businesses grow. It includes everything from a simple website builder to powerful marketing tools. In addition, Shopify provides 24/7 customer support, making it a perfect fit for small businesses. 

WooCommerce: WooCommerce is a well known WordPress based plugin that allows businesses to turn their WordPress website into an online store. It includes features such as product management, order management, and payment processing. WooCommerce is a great option for businesses that are already using WordPress for their website. 

Magento: Magento is an open-source e-commerce software with a vast range of capabilities and customization alternatives. It’s an excellent choice for organizations that require a more sophisticated online store. Magento comes in two flavors: enterprise and community, making it a great option for businesses of all sizes. 

No matter what sort of business you have, there is an e-commerce platform that can help you grow. By investing in an e-commerce platform, you can reach a larger audience and make it easier to sell your products or services. 

Conclusion on New Technologies

It is quite evident that technology has had a profound effect on the way small businesses operate. In particular, new technologies have made it easier than ever for businesses to connect with customers and sell products or services online.  

Thanks to advances in CRM software, inventory management software, and e-commerce platforms, among other things, small businesses can now manage their customer relationships, stock levels, and online stores more efficiently. These businesses are better able to grow and thrive in today’s competitive marketplace.

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Top 7 Benefits Of Building An MVP

MVP

Software development is aimed at solving a particular problem and one way to achieve that aim is to create a minimum viable product. A minimum viable product or MVP is a basic version of a software or app that can meet the targeted users’ needs and collect adequate feedback for improvement. This is an important part of the product development process.

The users of this age are more poised to use an app or software that solves their problem in the shortest time with the best user experience. Apart from that, the software developer also needs to be sure that the investment into creating the app is worthwhile. All of these make MVP software development an important step. You can start your product development process with an MVP development company today.

There are several benefits of building an MVP. The obvious ones are the chance to get firsthand glean into what users want and make the best of the software development investment. Below are the 7 main benefits:

1. You Can Save your Money

The first advantage of creating an MVP product is that it is economical. It is a huge monetary cost to develop an app. To put that investment to the best use, then the app must be developed from the eye of the user, not just based on the thoughts or imaginations of the developer.

There is less money needed to create a minimum viable product since it only has the basic functionalities to meet the users’ needs. The budget is minimal and the product gives the needed information on the best ways to create the full app or software. With startup MVP, there is a focus on the appropriation of the full app development budget. Unnecessary designs and functionalities are easily avoided, cutting down the cost.

2. You Can Save your Time

MVP

Another major cost of app development after money is time. With an MVP product, you get to save time. The basic functionalities are included in the minimum viable product, so it takes less time to create. This makes the time for market entry short. Once the core functions are created in the product, they can be released to users.

If it would have taken about 6 months for full app development, an MVP will only take about a month. This ensures that another startup will not have time to launch the same product before you. Time is of the essence and building MVP saves it. The faster you get the MVP out in the market, the quicker you begin to get the needed feedback for the full development.

3. You Can Attract Investors

Many times, you need investors for a cash injection to take your business to the next level. A very important benefit is the attraction of investors. The minimum viable product shows the investors the core features and benefits of the product. This way, the investors have a tangible feel of your idea in a product not just based on a virtual presentation or word of mouth.

Startup MVP packaged with the right business plan should convince any investor interested in your product niche. The MVP will show them the potential of your product and make your idea real. This validity is important in convincing them to invest in your product. 

4. You Can Learn What Your Customers Really Want

A business that stays in the heart of customers is one that gives them what they really want. Developing a product that people do not want is a waste of time, money, and effort. Creating an MVP is a good way to learn exactly what the customers want. The early launch of MVP gives you an insight into what should be added or removed from your product.

The basic features of the MVP make it easy to use by early customers. They are less distracted by aesthetic features and so will be able to give clear feedback that will inform a better upgrade. MVP benefits app development by making it a customer-centered process. You won’t be building a product with a concept of what you think people want. But you’re sure it is what they want.

5. You Can Do Target Audience Research

The deployment of an MVP product gives great detail about the target audience. The early users of the MVP are the sample population that you need to expand for successful product delivery. It may be that the target you had in mind doesn’t really find your product fancy. Target audience research is key to business success.

A startup MVP will give clear direction to researching prospective users. You also have the chance to try out the minimum viable product among different groups of prospects until you find the best fit. In this space, you will be able to discover your group of loyal users and serve them efficiently. 

6. You Have an Ability to Test Early 

Lean startup MVP is the main theme for shortening the development cycle. It gives you the chance to test your product viability in a very short time. You can create an MVP, test out its potential in the market and gain the information needed for the next level of launch within 90days.

This MVP benefit is just not a money saver, it is the key for tech startups to keep dishing out the best products. Building MVP allows early testing of features and functionalities. The best UI and functions are easily added once the testing is done. 

7. Better Scalability of Development

MVP

The product development process is a lengthy and demanding one. Launching an MVP makes the process scalable and less tricky. The direction is clearer when the MVP product is out there. There is far less risk in packaging the full product with the feedback gotten from the minimum viable product testing.

The scalability of the development process is boosted with a clear focus. The development team will be informed on what improvements are needed. Thus, a wider reach can be achieved when the improvements are added to the minimum product. The process of entering the larger market is made easier and simpler. The overall development is made scalable and so will the whole business become. 

Conclusion on Having an MVP

Creating a minimum viable product is a vital step in the product development process. The important thing is to create a product that meets the specific need of users out there. Their need is central, so they should be the main focus when creating a solution. The product allows the developer to gather the needed ideas to create this ideal solution.

The possession of minimum and basic functionalities by the MVP created will allow for the best feedback collection. The early adopters will not only give the needed feedback, but they will also show the ideal customers that will be interested in the product. This will make way for concrete research and learning how these customers can be best turned into loyal users.

Finally, MVP software development is the major way to create an innovative solution within the best budget and time. The risk of wasting money and time on a full product development that may not be accepted by the market is reduced by an MVP launch.

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