People or technology? That\u2019s a question countless business leaders have debated, and there\u2019s really no definitive answer. It all depends on the size of a company, its state of growth, and its product, budget, and specific objectives. In my experience running several companies in various stages of growth, it\u2019s important to be thoughtful in answering this question. So, when you are debating an investment in people or technology, ask yourself which choice will help you achieve these five business objectives.<\/p>\n
1. Augment your expertise.<\/strong> The product you make or the services you provide clearly mean enough to you\u2014you did, after all, decide to create an entire company dedicated to them. But that doesn\u2019t make you an expert on technology, or marketing, or human resources. To address this gap, you can invest in specialty software or bring in professionals with the knowledge and experience you lack. This allows you to focus on what you <\/span>do<\/em> know, and your business will benefit from the collective expertise of the group.<\/span><\/p>\n 2. Streamline your process.<\/strong> As your company grows, it\u2019s critical that business operations\u2014such as payroll, insurance, and human resources\u2014keep pace to support the business and its employees. Can technology automate those processes? Or, will the company be better served by adding more personnel to manage those processes?<\/span><\/p>\n 3. Become more efficient.<\/strong> The more efficient your business, the more productive your employees. Consider whether technology can reduce inefficiencies without negatively impacting product development, sales, or customer service. If your sales team isn\u2019t hitting its numbers, the reason could be that you have the wrong people, or perhaps the team is having trouble tracking and capitalizing on leads. In that case, an investment in a customer relationship management tool might be in order, but a new inside sales rep probably won\u2019t be necessary.<\/span><\/p>\n 4. Cut costs.<\/strong> Spending money to save it may seem counterintuitive, but every successful entrepreneur will tell you this strategy works\u2014if you invest in the right assets. Consider your highest cost centers and then look closely to assess processes and identify ways to reduce expenses. For example, if you operate a fleet of trucks, consider investing in a fleet management solution to optimize drivers\u2019 routes and reduce fuel use.<\/span><\/p>\n 5. Improve customer service.<\/strong> Employees on the front lines bear the brunt of customer demands and complaints. It\u2019s a stressful position to be in: one that relies on processes and established standards, and not to mention, a thick skin. How is your company supporting this critical function? Are you using technological solutions to help support a great customer experience? Do you have dedicated people in place who will best represent your business? Ensuring your customers have a good experience with your business is paramount to long-term success.<\/span><\/p>\n The reason you started your business is because you\u2019re an expert in your field. You have a passion for something, and you saw a chance to make a mark on your industry. But that doesn\u2019t mean you can do it all by yourself. Investing in the right people to join you in your quest for success is the best decision a business leader can make. Investing in the technology and tools to empower your talented employees will ensure that they stick around till the end.<\/p>\n","protected":false},"excerpt":{"rendered":" People or technology? That\u2019s a question countless business leaders have debated, and there\u2019s really no definitive answer. It all depends on the size of a company, its state of growth, and its product, budget, and specific objectives. In my experience running several companies in various stages of growth, it\u2019s important to be thoughtful in answering […]<\/p>\n","protected":false},"author":1492,"featured_media":12951,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43902],"tags":[],"class_list":["post-12949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-professional-development"],"acf":[],"yoast_head":"\n