Invest in Technology using a Small Business Loan

Small Business Loan: If you feel like the world is leaving you behind and your company doesn’t seem to be as successful as others, you might want to take a look at technology as a way to improve your value promise in the market. An excellent way to make this happen is to appeal to small business financing options to get you back on track.

It’s not a secret that today everything and everyone is connected, smartphones, people and even cars are now interlinked. Yet, not every business is keeping up with this new wave of innovation. And sure, if you are a spa in the middle of nowhere, you don’t need technology.

Every business, no stuff the industry, can benefit from technology. And it’s not just a matter of offering connection to your clients, but to help the business grow and save money.

Investing, not spending

It is important to make this dissimilarity, because buying technology can be expensive, yes, and it’ll take time to see a return of that money. Mostly because it’s not just buying a program or paying a license to implement it throughout the organization.

Implementation of, let’s say, smart lighting in the office will require you to vacant the facilities for a while. But not just that, there will be a learning curve from employees that uses the technology. They have to adapt, to use it and after that, you’ll see a return of investment in an increase in productivity.

Same goes for a CRM platform, a new website with e-commerce or even collaborative online media. Everything takes time. Yet, once it’s up and running, you’ll find that the processes are faster and more productive, people will be happier and will work better. That, right there, is money in the bank.

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Technology is for you

Resistance to new things is natural. As humans, we fear change and the unknown. So, it’ll take time for your team to get used to the idea of technology being part of their lives. They might even think that the only reason to invest in it is to monitor them closely.

And sure, that will happen. But next to implementation, full knowledge of everything technology can do for them, their work and their life balance will help to accept these changes. And it doesn’t have a limit to the industry or sector where it can apply.

So if you think that you as a farmer don’t require state of the art technology, think again. There are innovations in emerging markets that use drones and sensors in the fields to detect plagues, droughts, and even predict the weather and respond appropriately. It helps farmers reduce loss by alerting them where they should be paying attention. Now it doesn’t sound so bad.

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Small Business Loan Financing

If you have a construction company, small business loan financing can help you include the latest technology in tools, or even in your supplies. Imagine going from building a house per month to becoming a smart building constructor by integrating the Internet of Things (IoT) to your source chain and your finished work.

Retailers can go from a boutique of exclusive clothing to a global brand with production and logistics in the same Content Management System. Or even creating a strategic alliance with local farmers to distribute fresh produce in the region.

The very first instance, the hospitality industry is already working on a path of transformation. When was the last time you survived a day without your phone? In some hotel rooms, you can link your smartphone to an intern network, via Bluetooth or WiFi and control the air conditioning, television, alarm clock and lightning. You could even order room service without a landline.

The devil is in the details

So, you might have a successful business right now, and you honestly think technology it’s not that important for what you do. You might be true considering the here and now. But that’s not how a successful business run.

In the long run, if you don’t modernize your offer, you’ll become obsolete, and other new or renewed places will start munching on your take of the market. Please don’t wait until it’s too late and start considering a small business loan financing as a way to outrun the competition. It’ll pay back on happy customers, happy employees and a whole new dynamic for your company.

Writer’s bio:

Ximena Soto is a journalist with over a decade of experience in personal finance, entrepreneurship, tech and lifestyle publications. Her publication can found in Expansion magazine, Forbes, Entrepreneur magazine, Aviva and Pequeño Cerdo Capitalista’s webpage.