Tolar Systems Blog
Technology Strategy: Planning for Small Business Success
Any successful small business involves planning—a business plan, a financial plan, a growth strategy. In our increasingly tech-dependent world, a technology strategy should also be part of that line up.
Many small businesses treat technology as an afterthought. Yet, small businesses depend more on technology and spend a higher percent of their annual revenue on IT than medium or large businesses. This means it’s imperative that every dollar is spent strategically—with thoughtfulness and long-term planning in mind.
Learn more about developing a technology strategy for a small to midsize business from Tolar Systems.
Why Do I Need a Technology Strategy?
If your small business doesn’t have a technology strategy in place to guide your spending, you can end up spending more than intended with less return on investment. You also might inadvertently buy software or hardware that’s not compatible with your other systems, or pay for a bunch of applications when it would be cheaper to bundle those applications instead.
Your small business’s technology strategy should be as unique as your company, and take into account any special needs from your profession or industry. Capitalizing on the strategic value of IT can help your business create a competitive advantage. By aligning your small business’s limited financial resources with your company’s strategic objectives, you have a recipe for success.
A thorough technology plan for your small business would answer the following questions:
- Should we consider outsourcing IT development and support?
- Are we using correctly technology to address our small business’s most important priorities to deliver value to customers?
- Are we investing in the right technology?
- Do we measure the value technology brings to our small business?
- Is our current IT able to continuously support a successful small business?
- Is our current IT environment managed, maintained and secured properly? Is it able to support our customers? Is it cost effective?
- Can our IT strategy support our current and future small business needs?
A technology plan also helps you save time and money by eliminating potential redundancies and maximizing your expansion capabilities.
What Does a Technology Plan Include?
A comprehensive technology strategy is intended to guide a small business on all facets of technology management costs, including:
- Networks and infrastructure
- Tech support
- Vendor management
- Inventory control
- Database management
- Collaboration and communication
- Cloud- and web-based activities
- Industry-specific technology
A technology plan outlines each step of the technology decisions your small business should make to set itself up for future compatibility down the road.
The technology strategy should identify equipment and software that will meet your small business’s needs, considering function, compatibility, ease of use and expansion capabilities.
A technology plan should be considered a fluid document that will evolve as your small business grows and technology advances.
How Can a MSP Help?
A managed service provider (MSP), like Tolar Systems, can assist you with creating a viable small business technology strategy.
We can help your small business navigate the plethora of emerging technologies and plan a technology strategy that maximizes your IT budget. We’ll help you structure a technology plan that addresses your small business’s current and future technology needs while supporting your business goals.
Contact Tolar Systems today for assistance with creating a technology plan for your small business.