Digital technology has fueled the growth of new businesses across all industries. If you are one of these entrepreneurs, you have to appreciate the challenges ahead in your journey to financial freedom. A report by the Small Business Administration (SBA) Office of Advocacy says about 20% of small businesses don’t survive the first year.
Many of these new startups fail or struggle due to optimize tech systems. Now that technology is at the heart of most operations, your new business must leverage the latest ideas in the industry to thrive.
One of the best ways to avoid business failure is by learning tech pitfalls out there and avoiding them. This post addresses common tech mistakes new businesses make and explores ways to avoid them.
Failure to Back Up Your Data
Data is the greatest asset any business owns today and you should thus institute the best measures to protect it. Most companies fail to back up their data which leaves them vulnerable to financial losses in case of data breaches.
With the increase in data breach incidents across the globe, you should talk to an experienced IT specialist for a data security audit and recommendations for the best data backup system. IT consultants such as Athens Micro offer tailored data solutions, including cloud services, to secure your data.
Failing to Plan for Expansion
When you start that business in your parent’s house, you should have a clear-cut plan on how to scale. If it is an online business, you expect orders to stream in and site traffic to grow.
You should research and find ways to take things to the next level right from the start. For instance, choosing scalable web hosting solutions will limit site outages and poor loading speeds in the future.
New Tools without Upgrades
Buying new hardware and software is crucial to boost your business operations. However, you need to consider available upgrades to optimize your systems. Always look for upgrades and updates to make your tech tools more functional. This can also save you money by avoiding costly repairs of equipment or overload due to old software.
Overlooking Basic Security
Many small businesses don’t focus on IT security as they assume this is only a concern for big companies. However, everyone is now a target for hackers. As big companies install the latest security tools, hackers turn to smaller targets.
You should invest in enterprise antivirus and malware protection, train your employees on data security, secure your wireless networks, and install a business-class firewall. These basic security measures will keep your business safe and prevent financial losses.
Overlooking Employee Training on New Tech
Investing in the latest technology is a sure way to boost your new business and stay ahead of the competition. However, skipping employee training on such new tech means you won’t realize the full potential of your investment. What’s more, this can leave your business exposed to new security threats.
Starting a new business is an exciting moment, but it comes with challenges that can lead to failure. In today’s tech-fueled global economy, technology can help you overcome many of these challenges. This is only possible if you avoid some of these common tech mistakes many startups make.