❤ *Technology And Entrepreneurship*
💚 *How To Incorporate And Use Technology In Driving Small And Medium Scale Business*
🎤 Speaker/Facilitator/Discussant
Good evening colleagues and forward thinking members of TEA foundation
It is indeed my pleasure and honour to be going through this seminar with you.
As earlier announced, we shall summarily be looking at how to incorporate and use technology to drive our SMEs.
We shall make this as interactive as possible.
When we hear the word, Technology, what comes to mind??????
One big electronic gadget that uses electricity or battery ba?
Any method or system that makes your work easier and can be scientific in nature is technology.
So, our aim is to make our SMEs easier and more profitable
Technology has important effects on business operations. No matter the size of your enterprise, technology has both tangible and intangible benefits that will help you make money and produce the results your customers demand.
It is evident that the impact of technology on our day to day lives and our businesses has grown exponentially over time
So, why should entrepreneurs incorporate technology in their business?
Good communication is necessary to allow efficient flow of information in a business
Technology provides multiple channels for businesses to communicate both internally and externally
Does anyone agree that customers have moves on to modern gadgets???
Let me recoin the question, where do we get more customers today?
Street?
Online?
Neighbors?
Are we still awake?
Good, I think the survey result is obvious.
The customers are moving toward technology, so should a good entrepreneur
Initially, it always looks as if technological innovations are expensive, but in the long run, they are very effective and cost reducing
One of the major components of SME expenditure is labour cost.
This includes staffing for core and support staff.
For small businesses, the ability to outsource support functions remains key
Functions such as secretarial, accounting, data entry can be outsourced to a virtual assistant
I hope we're still following?
Bigger businesses are into the use of robotics in delivering outsourced services.
There is no need for too many staff not doing anything
Our SMEs can't run like federal ministries
The use of technology also reduces communication and material costs
At this point, let's just look at some of the ways technology can be used to drive our SMEs
Technology can help small business owners leverage limited capital in smarter, more effective ways. In some cases, using technology provides greater efficiency and versatility, making it a natural progression for processes you may already have in place in your business. In others, you may need to make some adjustments to reap the benefits of tech-friendly alternatives.
*Productivity*
1. Time tracking software is an excellent tool for mapping out where time is spent, by whom. Such analysis when properly utilized is great for accountability, process improvement, and productivity.
2. Streamline your work processes with digital dictation.
4. Create a digital filing system to make it easier to sort, save, share and find documents.
*Financials*
1. Use of an online invoicing service to reduce the costs of collecting payment from customers.
2. Use online budget tracking to keep on top of—and reduce—your expenses.
3. Create a new income stream by selling your products online.
4. Use a comprehensive accounting software to streamline your business finances
*Marketing*
1. Use software to create a marketing plan that you can edit, update and share with your team.
3. Start a blog related to your business and target audience.
4. Collect email addresses through an opt-in form and start utilizing the power of email marketing.
6. Promote your business with a website and/or online advertising.
1. Use social media to conduct customer service.
2. Set up an online help desk or ticket system to handle customer issues.
3. Allow clients to schedule appointments online at their convenience.
4. Use online surveys and questionnaires to get customer feedback.
All the above stated might look a bit complex for some but frankly, it only takes determination, conviction and the know how.
The breakthrough will surprise you
Even if we think our businesses haven't gone this sophisticated, we can at least use our chatting time to always talk about our businesses on all social media network
Your customer is on someone's timeline
Do more research on your hustle using the internet.
Have personal records that you're keeping to appraise your business.
But let it be automated
Researches have shown that businesses that leverage on technology has a better productivity.
Conclusively….
Small businesses rely on technology to help them operate on a daily basis.
From laptop computers with internet capabilities to printers, online file storage and web-based applications, technological advances impact small and medium scale businesses across various industries.
Technology has the potential to affect and drive small businesses in positive ways, depending on the goals a business has in place, the products they chose to use, and how well entrepreneurs and their employees adapt to new systems.
Let us embrace technology for a healthy growth in our businesses.
I shall be stopping here for tonight.
Thanks so much to having me.*Seminar Recap On The Treasured Entrepreneurs Association TEA Hall Of Wealth General Active Group Page 1 & 2 Held On Wednesday 20th Of February 2019*
👉🏼Theme:
❤ *Technology And Entrepreneurship*
💚 *How To Incorporate And Use Technology In Driving Small And Medium Scale Business*
🎤 Speaker/Facilitator/Discussant
🗣Mr Kadiri Gboyega….
Good evening colleagues and forward thinking members of TEA foundation
It is indeed my pleasure and honour to be going through this seminar with you.
As earlier announced, we shall summarily be looking at how to incorporate and use technology to drive our SMEs.
We shall make this as interactive as possible.
When we hear the word, Technology, what comes to mind??????
One big electronic gadget that uses electricity or battery ba?
Well, technology actually refers to methods, systems and devices which are result of scientific knowledge being used for practical purposes.
Any method or system that makes your work easier and can be scientific in nature is technology.
So, our aim is to make our SMEs easier and more profitable
Technology has important effects on business operations. No matter the size of your enterprise, technology has both tangible and intangible benefits that will help you make money and produce the results your customers demand.
It is evident that the impact of technology on our day to day lives and our businesses has grown exponentially over time
So, why should entrepreneurs incorporate technology in their business?
1. *COMMUNICATION*
Good communication is necessary to allow efficient flow of information in a business
Technology provides multiple channels for businesses to communicate both internally and externally
Does anyone agree that customers have moves on to modern gadgets???
Let me recoin the question, where do we get more customers today?
Street?
Online?
Neighbors?
Are we still awake?
Good, I think the survey result is obvious.
The customers are moving toward technology, so should a good entrepreneur
2. *Cost Reduction*
Initially, it always looks as if technological innovations are expensive, but in the long run, they are very effective and cost reducing
One of the major components of SME expenditure is labour cost.
This includes staffing for core and support staff.
For small businesses, the ability to outsource support functions remains key
Functions such as secretarial, accounting, data entry can be outsourced to a virtual assistant
I hope we’re still following?
Bigger businesses are into the use of robotics in delivering outsourced services.
There is no need for too many staff not doing anything
Our SMEs can’t run like federal ministries
The use of technology also reduces communication and material costs
At this point, let’s just look at some of the ways technology can be used to drive our SMEs
Technology can help small business owners leverage limited capital in smarter, more effective ways. In some cases, using technology provides greater efficiency and versatility, making it a natural progression for processes you may already have in place in your business. In others, you may need to make some adjustments to reap the benefits of tech-friendly alternatives.
*Productivity*
1. Time tracking software is an excellent tool for mapping out where time is spent, by whom. Such analysis when properly utilized is great for accountability, process improvement, and productivity.
2. Streamline your work processes with digital dictation.
3. Use project management and task management tools to stay on top of your daily business responsibilities.
4. Create a digital filing system to make it easier to sort, save, share and find documents.
5. Develop an efficient email management process that makes it easier to stay on top of the flow of messages
*Financials*
1. Use of an online invoicing service to reduce the costs of collecting payment from customers.
2. Use online budget tracking to keep on top of—and reduce—your expenses.
3. Create a new income stream by selling your products online.
4. Use a comprehensive accounting software to streamline your business finances
*Marketing*
1. Use software to create a marketing plan that you can edit, update and share with your team.
2. Use social media sites like Facebook, Twitter, Google+, Pinterest, YouTube, etc. to promote your business, products, and services.
3. Start a blog related to your business and target audience.
4. Collect email addresses through an opt-in form and start utilizing the power of email marketing.
5. Use video marketing.
6. Promote your business with a website and/or online advertising.
*Customer Service*
1. Use social media to conduct customer service.
2. Set up an online help desk or ticket system to handle customer issues.
3. Allow clients to schedule appointments online at their convenience.
4. Use online surveys and questionnaires to get customer feedback.
All the above stated might look a bit complex for some but frankly, it only takes determination, conviction and the know how.
The breakthrough will surprise you
Even if we think our businesses haven’t gone this sophisticated, we can at least use our chatting time to always talk about our businesses on all social media network
Your customer is on someone’s timeline
Do more research on your hustle using the internet.
Have personal records that you’re keeping to appraise your business.
But let it be automated
Researches have shown that businesses that leverage on technology has a better productivity.
Conclusively….
Small businesses rely on technology to help them operate on a daily basis.
From laptop computers with internet capabilities to printers, online file storage and web-based applications, technological advances impact small and medium scale businesses across various industries.
Technology has the potential to affect and drive small businesses in positive ways, depending on the goals a business has in place, the products they chose to use, and how well entrepreneurs and their employees adapt to new systems.
Let us embrace technology for a healthy growth in our businesses.
I shall be stopping here for tonight.
Thanks so much to having me.
Treasured Entrepreneurs Association (TEA) 