In the right hands, tech can give you an all but unbeatable advantage. Mishandled, it'll put you out of business so fast it will make your head spin. If your company is losing money and desperate for a lifeline, here are four to consider. Not all will be applicable to every type of business of course, but I'll pick a broad spectrum to maximize the chances of finding something for nearly everyone to consider.
3d Printers
Even if you're not in the business of manufacturing anything, the ability to do rapid, in-house prototyping can save you thousands, if not tens of thousands. In a word, it can make your company nimble. More products developed more quickly means you can start consistently beating your competitors to market with new ideas, and that's the sort of thing that can redraw the map and your place on it.
Of course, if you are a manufacturer, then all the more reason to double down on this emerging technology. 3D printing can be done from anywhere at exceedingly low cost, with no wasted materials in the manufacturing process, because the printer only prints exactly what is needed. This saves you in three ways: Less material used, no need to dispose of scrap, and reduced (if not outright eliminated) inventory costs.
Cloud Computing
The ability to outsource significant IT and data processing functionality for pennies on the dollar is the sort of thing that most business owners have only been able to dream of in the past. These days, it is a reality, and you can thank “The Cloud” for it. Your mileage will vary with this one based on how “custom” your IT needs are, but any generalized IT services can certainly be pushed to “The Cloud.”
Apps!
If you don't have an app for your company, you need one. Apps can help turn losses into profits by making you and your products more accessible, warmer and more approachable. Those are all good things in terms of your customers' perceptions of you, which translates directly into sales. Apps are fantastic ways to enhance the user's experience with your products and services.
The Internet of Objects
You can make your products gather more data than ever before, and make that data accessible to your customers. If your product begins to stray outside of certain tolerances, for example, it might be indicative of a looming part failure. Your product (via app) could a) warn the user, and b) recommend either repair (complete with assistance in making the appointment for service), or replacement, depending on exactly what was going wrong. Every object can be a “smart” object in today's world.
It's a brave new business world out there, and tech can make or break you. If your company is struggling, these technologies just might give you the edge you've been looking for to put you back in the black, and firmly on the road to recovery and financial stability. Best of all, these technologies require very little in the way of capital expenditures to get started, which is critical if you're already in the red and in a certain amount of trouble.
