Understanding the Cost and the Opportunity
Investing in Information Technology (IT) has stirred much debate in the enterprise world where some view IT as a nonessential cost while others view it as a considerable opportunity. The truth is this: it is both a cost and an opportunity. How can it be an opportunity and why should investing in Information Technology matter? The answer is surprisingly simple: accelerated business growth, increased revenue, and longevity.
As experts in the Information Technology industry for over two decades, our high-level CIO advisors at zbrella Technology Consulting have come to understand that there are three types of business owners:
- Strategic Business Owners/Leaders
- Tactical Business Owners/Leaders
- Bare Basic Business Owners/Leaders
Strategic Business Owners understand that Information Technology is critical to their business and that they must invest in IT because they recognize the immense success that the investment can bring. Tactical Business Owners also understand that Information Technology is necessary, but they view it as a cost rather than an absolute benefit. Lastly, the Bare Basic Business Owners believe that IT is a nonessential cost and is not critical to their business.
The thing to understand is that in order to undergo extensive business growth, all business owners must begin to think like a Strategic Business Owner. Technology has become essential for almost every business and we interact with it daily—via computers, smart phones, smart devices, laptops, printers, etc.. It is an integral part of business culture.
But simply supporting technical devices is not enough. It is the bare basics of what every business should be doing (and you’ll be surprised to find that most Bare Basic Owners do not invest in it). Strategic Business Owners understand that Information Technology is not just about having technical people support their devices. They can see that technology drives innovation and that innovation and technology together can increase revenue and growth.
Technology is a tool used for innovation; through it, we discover innovative ways to solve problems more efficiently, productively, and cost-proficiently.
How Technology Drives Growth
When approaching technology, the number one thing we always tell clients is to leave technology out of it. You are not a technical expert, rather, you are an expert at the business you run. So, instead of thinking about what technologies you should invest in, think about what internal/external business problems you should invest in.
Strategic Business Owners realize that technology is not their expertise, so they focus on discovering what problems need solutions, how fixing those problems will impact their business, and how it will help grow their revenue. They then go out and hire Information Technology experts and consultants to find solutions for them.
Do what you do best and outsource the rest.
Technology can help solve any problem that exists in your business today. It can improve and greatly increase annual revenue, streamline operations, boost productivity and efficiency by large margins, decrease wasted time, cut costs, improve customer relations, reach more customers on a global scale, provide better service, and more.
The secret is this: it’s not about what technologies you should invest in. It’s about what inefficiencies your business has and what benefits you’d experience should you invest in those problems. When you understand what your problems are costing you on a monthly, quarterly, and annual level, you’ll know why investing in Information Technology is an essential cost that will deliver exponential growth.
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