3 Vital Tech Adjustments for your Business Running your own business is no easy task, and that’s about all there is to it. It’s difficult, and it’s always going to be difficult. But thanks to various modern technologies, business owners today have a lot of different ways of making things easier and increasing profits that we didn’t necessarily have even five years ago. But because technology moves quickly and businesses always adapt, these tech innovations aren’t ways to get ahead so much as ways to keep up. In other words, a business owner in modern society pretty much has to take advantage of things like these.
- Bitcoin Acceptance
There’s been some debate over the past year or two about whether or not it’s worth it for businesses to accept Bitcoin, and at a certain point it did seem like a tedious thing to mess with. For several years, ignoring Bitcoin might have meant missing out on an absolutely negligible number of sales, simply because not that many people were looking to buy products or services with digital currency. But that’s changed quite a bit even over the course of 2015, and now the debate might come down to a simple truth highlighted by Forbes: Bitcoin is a better way to do transactions, at least for a lot of smaller businesses. Consumers are getting more and more interested in contactless payment (meaning payment without use of cash, or the swiping of a credit card), and by offering Bitcoin acceptance, you’re inviting these consumers to enjoy your business. Setting it up is fairly simple as well. There are Bitcoin merchant programs that allow you to take digital currency payments online, and sometimes the program can even convert the Bitcoin automatically into ordinary currency. And in person, there are numerous systems that allow the customer to pay with Bitcoin as easily as if he or she was using Apple Pay.
- Portable Payments
This idea is nothing new in and of itself, but with the advent of contactless payments (as mentioned above), portable pay acceptance is more useful than ever in businesses. Specifically, this refers to the idea of having card payment machines that are not attached to cash registers, but which instead can be carried around a store, restaurant, or even trade show. Think about the employees at the Apple store being able to process payments on their own iPads, and you can understand the concept. By using portable payment machines equipped for both card swipes and digital payments, you can reduce customer waiting time, process fast and secure payments, and allow your customers to pay the way they want to, according to Worldpay. This type of setup gives your business an efficient and modern feel, which should help to keep customers around. But it can also directly increase your sales, as you’ll be able to go to the customer as opposed to waiting for the customer to come to you.
- App Development
A modern business is now at a severe disadvantage if it hasn’t at least begun the process of developing an online presence that extends to the app market. Most businesses, regardless of size, have websites these days, even if that means a very simple page displaying basic information (store hours, location, etc.). But increasingly, the idea of having a website without an accompanying app is outdated and inadequate. As Growth Lightning notes, there are numerous reasons for a business to invest in a mobile app, but it mostly comes down to two things: brand exposure and an additional revenue stream. With a mobile app you can become relevant to new audiences, and you can also benefit from sending alerts or coupons directly to customers (instead of just emailing them out). The specifics will depend on the nature of your business and mobile capability, but as with the other technologies discussed here, it’s almost foolish not to have an app at this point. Fortunately, each of these ideas can be put into practice with relative ease. And with them, you can begin to operate a truly modern business.