Upside-Down Thinking by Patric Fransko
by Patric Fransko
July 19th, 2017

Technology is Not an Option, It is Your Lifeblood

This tide has been coming for years. However, for the past decade, a business owner could choose to bury his head in the sand and continue to run his business the way he always had. He could avoid embracing technology and things still appeared to be running fine. Well, this article is here to give you three reasons why, if you continue down this path, you are going out of business in the next decade. You just don’t know it yet.

That may sound harsh, and you may think I am crazy, but we are still at the very beginning of the technology revolution that will fundamentally change the way that people do business and interact with companies over the next decade. With that in mind, here are the “Three E’s” you need to understand, and why you need to embrace technology as it relates to your company immediately.

  1. Expectations As technology is incorporated into nearly every aspect of people’s lives, they expect the businesses they interact with to keep pace. Failing to utilize technology that touches the customer experience in a way that they are becoming accustomed to makes your business feel out of touch and old fashioned. If a consumer is given the choice between doing business with a company that feels comfortable in the way they interact vs. one that feels out of date, that consumer will likely choose the option that fits their current expectation.

  2. EfficienciesEmbracing technology will help you be more efficient in conducting your business. With the mass of knowledge available on the Internet, consumers are better educated about products and pricing. That often has the effect of squeezing margins. When margins are pressed, one way to continue profitably is to get the work done more efficiently. If technology can help you get something done in 45 minutes that would take you an hour without, you have saved 15 minutes, and the corresponding cost reduction associated with saving that time. Technology buys you time. In a busy world, time is your most valuable commodity.

  3. EvolutionAll businesses evolve. Over time, the way things are being done changes. People once typed out articles at the newspaper on typewriters. Then they began using word processing machines. Now, of course, everyone uses a computer. Imagine if you still had a local paper that had their writers using typewriters and bringing articles to press the old way. They would have little chance to survive.

    On top of that, embracing modern technology would be very intimidating to the staff as the jump from typewriters to a laptop would be such a large departure from how they had been doing business. They missed the train as it was pulling out of the station, and now it’s moving 40 mph. Trying to catch on and catch up is nearly impossible if you have not steadily evolved as things have changed.

I hope that you consider these “Three E’s” regarding why your company needs to embrace technology to ensure a bright future. I would love to get your feedback on what you think of this article and learn how you are implementing technology in your company to meet one of the “Three E’s”.

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  1. I am a huge fan of this article. I try to instill this thinking in all the installers and owners I see . You can not ignore this . If you do and do not believe this ,well you are “GOING OUT OF BUSINESS ON THE INSTALLMENT PLAN.” I have seen other businesses do this and fail .Blockbuster didn’t think technology changes would put them out business . Just embrace change it is the one constant that is for sure

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