5 Technological Investments Every Entrepreneur Should Make

5 Min Read

For the entire business realm, technology has become a rather indispensable part. When compared to the age-old commercial system, online marketing has become way more popular. We are sure by now that we are living in an era of unprecedented technological growth. For a business owner, it is indeed intimidating to keep up with the rapid advances in the field of science and technology. Before setting up a business, the would-be entrepreneur knows a few areas where he should invest in, like marketing, human resource, insurance coverage (sometimes tpd insurance) and several other aspects.

But with changing times, they also have to include few technological investments into their list. Unless and until a business owner can embrace technology, he will never be able to set ahead of his competitors. So what are technological solutions that a business owner should invest in? Here are a few technological investments to take into account.

#1: Internal platform for chat

Did you know that in an age where the whole world is connected through chat apps, there are still several companies which still depend on email for communications within the company? Using HipChat or Skype as an internal platform for communication can increase both the accountability and speed of employees. The employees also get a better chance to bond with each other in a better manner.

#2: Tool for managing passwords

Being a business owner, you will have access to multiple accounts, whether email or social media or in any other account. Since all the accounts are password protected, you can use a tool for managing online passwords and all other credentials. LastPass is one such tool which can allow the company to centralize all vital data and work in an efficient manner.

#3: Project management software

The team of each entrepreneur should comprise of user-friendly, flexible yet powerful project management software based on the cloud. With such a software, you could nurture and preserve the ideas while offering a platform for perfect collaboration. You can initiate discussion threads around worthy ideas and whenever an idea matures to an extent where it becomes a project, you can start adding resources to it and creating a timeline for the project.

#4: Video equipment

In today’s digital marketplace, video has become one of those increasingly important marketing assets which an entrepreneur should definitely invest in. Instead of hiring costly videographers and paying them, you can choose to empower your team to design good quality video content by giving them portable video equipment. With just very little investment, you would notice a difference in the video quality that is made with a high-quality camera instead of a webcam.

#5: Stress management technology

It is yet to be scientifically proved that negative ions reduce stress. But, one thing which is well-proven is the positive results of yoga. How about sending an app gift card to the employees like, Pocket Yoga? Yoga gives employees an opportunity to rejuvenate themselves at the office, the gift voucher software for small business if you want to drive your gift card sales forward, talk to us today about our gift voucher management system and let us help you to generate more sales for your business, and manage your customer gift certificates with ease. It’s also one of the best high-tech ways to make encourage employee’s to keep track of their health. This will not only promote health awareness but will also reduce the number of sick leaves of the employees. Doesn’t that seem to be a good idea?

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Now that you have a clear list of the technological investments that you should make. How many have you invested in? If you haven’t invested in any of them, make sure you do so. Just try your best to invest in the things of premium quality so that there are reduced glitches and errors.

This post published in partnership with iSelect.com

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Ramon Ray, founder and editor Smart Hustle Magazine. Entrepreneur, best selling author and global keynote speaker.