Productivity

17 Entrepreneurs Explain How Technology Will Affect Their Business Tomorrow

It’s becoming increasingly important for every business to have at least basic technology to run daily operations in the current day society. Society is changing and so is its demand and supply for new products and services. With new technology emerging, we can only imagine the changes it will bring along to the business platform.

We asked entrepreneurs and business owners how technology will possibly affect their business tomorrow and here are the responses:

#1- Makes growing a community easier

Photo credit: Milena Regos

As someone who is looking to build a worldwide movement, growing a community is very important to me. Technology makes it easier to connect with people all over the world. As much as we are dealing with Zoom fatigue, having the technology to connect us as humans has been critical, especially during COVID. With work from home now being the norm, human connection is very important through our screens and technology allows us to do so. Without technology, we are limited in our communication, reach and connection. All too important things for most businesses.

Thanks to Milena Regos, Unhustle!


#2- Two business trends

Photo credit: Martin Seeley

The biggest trends I see being adopted tomorrow are time tracking apps and adaptation of workers to their remote environments via communication platforms. Putting all of their trust in remote workers is not something I see most CEOs being comfortable with, as working at home can be very tough to discipline. That’s where time tracking apps come to rescue. By using them, workers stay more focused and concentrated on the task at hand and companies have better insight in their workflow. However, working from home can be a challenging task for many, as the transition from being an in-office worker to a remote one can be quite intricate. Now, more than ever, companies rely on various means of communication to stay in touch with their teams in order to maintain healthy work discipline and awareness.

Thanks to Martin Seeley, MattressNextDay!


#3- Setting up of online stores

Photo Credit: Lewis Keegan

We are in the golden age of technology and this has proven very helpful in our daily lives, especially in the way that most businesses are conducted. Nowadays, businesses have to go with the flow of technology and its current trend, otherwise, they will be left behind and sink to the bottom of the pyramid. More businesses are setting up stores not just onsite, but also online because this will be the future of businesses – majority of the transactions will be conducted online and you have to make sure that your business is prepared for it.

Thanks to Lewis Keegan, SkillScouter!


#4- Bring efficiency

Photo credit: Michelle Devani

As a relationship expert, I can say that technology has been a part of my life and my business. It doesn’t impair my business during these trying times as many transactions are now done online. And I am proud to say that through technology, I helped a lot of couples and families during this pandemic as most are coping with tensions and arguments. I believe technology has brought change and helped us in many ways and that is why it is always important today and beyond.

Thanks to Michelle Devani, lovedevan!


#5- Shorten page load time and enhance user experience

Photo credit: Avinash Chandra

Being a digital marketing company, our world is being constantly changed by the changes happening in the world of the internet. As of now, one thing we are interested in is the possible return of flip phones. Phonemakers like Samsung and Microsoft are already looking at phones that can double as tablets and can be folded back according to the user’s needs. This means as website developers, we have to take the idea of responsive websites to the next level. We are also looking at the Core Web Vitals that are due in 2021- which will look at some very important factors that determine user experience on websites.

Thanks to Avinash Chandra, BrandLoom!


#6- Two strategies

Photo credit: Jake Irving

First, I encourage business owners to create resources on your website or social network feeds for clients to better understand the products that are provided. This will allow the clients to educate themselves in a much simpler and streamlined way.Secondly, implement virtual zoom calls to discuss the products and ultimately finish the sales process. Using zoom is a safe and efficient way to speak with your clients while keeping the trust that you are who you say you are. Unfortunately in this new virtual world, there has been a spike in scams and identity theft. This will gain and keep the trust of your clients.

Thanks to Jake Irving, Willamette Life Insurance!


#7- Three ways

Photo Credit: Paige Arnof-Fenn

I started a global branding and digital marketing firm 19 years ago. Technology can be your best friend by saving you time, helping you stay connected, educating or entertaining you on topics of interest with a Google search. It can also be a huge waste of time (cat videos) or incredibly frustrating (computer crash or Zoom hiccup). Everyday I hope to leverage technology to make me more productive and efficient through seamless conversations and exchanges to strengthen my relationships personally and professionally.

Thanks to Paige Arnof-Fenn, Mavens & Moguls!


#8- Reduce our cost

Photo credit: CJ Xia

I believe that technology will wonder for my business because it will increase the employee’s productivity. We are an antibody manufacturer specializing in high-sensitive jobs that needs great attention. I believe that with the rise of technology the productivity of our employees will also increase. Due to Technology, it might be possible that we will reduce human involvement in sensitive tasks and use the latest technology. It will allow us to avoid paying labor costs along with employee benefits.

Thanks to CJ Xia, Boster Biological Technology!


#9-  Speed up everything

Photo credit: Paul Lewis

I used to wait for days for an important business document to arrive. But now, with the technology, I don’t even have to wait for a minute to receive an email containing the scanned documents I needed. Everything now is done in real-time especially when it comes to communication. Business owners once used to travel to meet business associates, now you can invite someone into a video conference without even leaving your desk. Technology makes business transactions faster and efficient at the same time. Speed is everything in business, there is no denying about it. And with technology, keeping up is the only thing left to do.

Thanks to Paul Lewis, Scrum Explainer!


#10- Streamline things in our business

Photo credit: Ben Walker

For us, it will only make things a lot more streamlined. With the development of more option for team communication, project management, and customer retention, I can only expect better things for my business. If you’re in the industry that leverages the internet, technology can only of great help to you.

Thanks to Ben Walker, Transcription Outsourcing!


#11- Help the productivity of our business and employees

Photo credit: Bradley Keys

We want our time to be well-spent, and productivity can improve when we have much of it every day. Technologies help in the production of our products and services. It also helps us to work conveniently due to its modern features that lessen the consumption of our time and effort. It is also beneficial for our employees as we promote a work-life balance. They don’t have to spend much of their time doing their tasks when there are technologies that can help them do it. It can help them to have more time for themselves, preventing burnouts, and resulting in a positive workplace

Thanks to Bradley Keys, PatchMD!


#12- Faster Customer Service

Photo credit: Dan Nolan

The availability of better communication technology is helping my business provide faster customer service. Chatbots powered by Artificial Intelligence (AI) have already helped out a lot, from answering Frequently Asked Questions (FAQs) down to processing orders, it provided a lot of time for myself to focus more on other things. The immediate assistance provided by AI greatly increased customer satisfaction — a great deal in my business. I truly believe that AI assistance will continue to evolve and will be a game-changer in terms of customer service in the future.

Thanks to Dan Nolan, Camping Console!


#13- Positive impact on the tourism sector

Photo Credit: Shaun Taylor

In the safari industry going forward, we have an interesting time coming up trying to keep young people interested in visiting Africa and coming on a safari. With the onset of virtual reality studios and the advancement of VR on phones, people can experience a safari and experience the sights and sounds as if they were really there! There are quite a few up and coming YouTube channels dedicated to safaris where people can go on a virtual safari as well. Hopefully, that kind of thing will whet their appetites and make it more attractive, we will have to wait and see.

Thanks to Shaun Taylor, Moriti Safaris!


#14- Boost the rate of lead to sales conversion and eliminate the custom escalation cases

Photo credit: Eric Jones

Technology is affecting our business on a positive note as well. As a business owner, I can see that there are more and more customers who are learning about self-service. This has come a long way from AI chatbots to self-service checkouts and self-service kiosks. Customers are becoming smart and it has allowed them to find quick solutions that they can easily perform at their own time. Businesses don’t need to adjust their regular operating hours and wait for the availability of the customer service representatives. Moreover, businesses have to adapt to the rapidly spreading self-service trends and provide channels for customers to do the same. According to me, the recent online interaction with the customers isn’t a bad development instead it’s a welcoming chance to benefit the businesses as well as the customers.

Thanks to Eric Jones, Couture Candy!


#15- The Advanced Use of Big Data & Cloud Computing

Photo credit: Adam Rowles

Businesses will depend more and more on big data analytics and cloud computing. The niche won’t matter, it could be mining or e-commerce, everyone will depend on these analytics. Why? It will help strike the right goal at the right time. Everything will be on the cloud and as per the analytics, at the right moment, the data will be used to boost up business.

Thanks to Adam Rowles, Inbound Marketing Agency!


#16- Adapt, Improvise & Grow

Photo credit: Mrudul Shah

If we look around, you’ll find that the businesses that have made it big are the ones that accepted the change and continued to adapt through decades. I think as an entrepreneur, it becomes your second nature to overcome challenges. The trend of digitization is the future technology that will help us make a mark into a new world of possibilities. Every Enterprise is embracing AI, IOT, ML, AR/VR and bringing a revolutionary change into their businesses by going online and we as a Technology service provider are working effortlessly to make them succeed.

Thanks to Mrudul Shah, Technostacks!


#17- Easier to establish credibility

Photo Credit: Shiv Gupta

For service companies, there should be communication about hours, availability, limitations on service, new ways to receive service, and any other people-related messages. Employees are more comfortable displaying themselves without concern about their accent getting in the way. Introverts communicate in ways they normally wouldn’t and extroverts find alternative ways to express themselves that may be more efficient sometimes.

Thanks to Shiv Gupta, Incrementors!


How will technology affect your business tomorrow? Tell us in the comments below. Don’t forget to join our #IamCEO Community.

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Mercy - CBNation

This is a post from a CBNation writer. CBNation is a Business to Business (B2B) Brand focusing on increasing the visibility of and providing resources for CEOs, entrepreneurs and business owners. CBNation consists of blogs(CEOBlogNation.com), podcasts (CEOPodcasts.com) and videos (CBNation.tv). CBNation is proudly powered by Blue 16 Media.

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