How to Reach Your 5-Year Goals with Technology
As a small business owner, the majority of your time is spent managing the operations of your business. Your spare time (if you have any) is probably spent planning ahead and creating goals for future growth. As your business flourishes, those goals will change and expand.
The daily challenges you face can feel like setbacks that inhibit you from focusing on short-term success and tackling your long-term goals. Fortunately, today’s technology is making it easier than ever for small business owners to work toward both.
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Square recently conducted a survey to learn more about what small business owners care and think about on a daily basis. From this survey, we found that most small business owners care the most about growth. Specifically, increasing their revenue and growing their customer base.
From our surveyed business owners, we found other long-term goals they hope to achieve:
- 38% plan to expand product/service offerings
- 29% will try to achieve greater work/life balance
- 28% will hire additional staff
- 11% will begin selling online
- 10% will open up additional brick-and-mortar locations
- 9% will open up their first brick-and-mortar location
As the goals of small business owners have evolved over time, so have the tools that are used to achieve them. Advancements in technology which focused on small business growth have empowered entrepreneurs to accomplish more with less. What technology tools are small business owners using today?
- 37% use a payroll service
- 28% use an email marketing tool
- 28% use invoicing tools
If you’re a small business owner, arming yourself with the right tools will help you to grow your business and maintain a competitive edge in the marketplace.
Utilizing technology like a payroll service or an email marketing tool helps to streamline and manage your day-to-day business operations so that you have more time to focus on the bigger picture.
In addition to a payroll service, email marketing tool, or invoicing tool, there are other services and tools small business owners can utilize. Two other options to consider if you want to grow your small business are:
An appointments tool
If your business offers a service, retaining and growing your customer base is your priority, so it’s important to provide your customers with a convenient and customized experience.
A good appointments tool can benefit both your customers and you. Look for a tool that allows customers to book online 24/7, and also has customer management features, including appointment history, personal details, notes, and purchase history. To simplify things even further, look for a tool that integrates with your POS and payments processor.
A retail-specific point of sale
If you operate a retail business, look for a point-of-sale system that was built specifically for the way your business is run. A retail POS allows you to manage inventory, create and scan barcodes, and create customer profiles.
If your business does not already have a website, building one may help you reach a new audience. For retail businesses, a website is another way to sell your products. For all other businesses, creating a website helps you engage with—and appeal to — more customers.
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