3 keys to bring innovation in small businesses, even in tough times.
Albert Einstein said: In the middle of difficulty lies opportunity.
Obviously, the chance can seem out of control as you try to survive in difficult circumstances.
But, it’s equally true to say that some of the world’s most successful companies started during tough times.
It will be no small feat to overcome the incredible challenges that still lie ahead of us. In the weeks and months ahead, flexibility, and a willingness to innovate will be necessary.
In the first half of 2020, we’ve already seen the impact of small business innovation. In addition to reducing expenses and finding financial support, many small companies have rapidly adopted technology that would take months to get in the usual conditions. Nearly 90% found these purchases vital to their company’s survival.
More than 80% of small businesses said the use of new technology was essential to the survival and development of their company.
So, In order to drive innovation, what small businesses really need to do?
You need three things to improve technologies and economic performance. We are going to share with you all of them…So lets star!!
1. Hire an empowered workforce
Meaning you must ensure workers have the digital resources they need to work productively and safely wherever they are.
It is equally important that these digital resources help workers work together. The reason for empowering your workers to work from anywhere is to remain connected to your teams and to continue to work together as a team even in these situations.
Some statistics say almost 75% of companies will enable some employees to permanently work outside a traditional office.
This statement is reflected by Global Workplace Analytics, estimating that 30% of the entire population worldwide will work from home at least a few days a week.
2. A secure e-commerce platform
The ways we shop have been changed over the last few months. More and more, small businesses are investing in technology to adjust to the challenges they face by offering online products and services.
E-commerce order growth is up 54% compared to last year, and according to Shopify, many brick-and-mortar stores have been able to replace 94% of their store sales online.
So that is why your ability to offer truly outstanding customer experiences begins with choosing the right e-commerce platform for your company.
3. A strong cybersecurity network
Of course, no degree of small business innovation will work if it isn’t protected.
Long before the first case of coronavirus, small businesses confirmed that protection was their number one concern. Well, that’s not very surprising.
Because almost 50% of all cyber-attacks target small businesses. This is more than the cyber-attacks faced by government authorities, financial institutions, and health care organizations combined.
Luckily, putting solid protections in place doesn’t mean you need to have every option on the market. You just have to pay attention to the basics and then expand. The right mix of firewalls, endpoint security and cloud security creates a solid base, even when workers work outside the physical environment.
Also, make sure you use the new software fixes and protection settings. Ensure that the workers are cyber-conscious, rely on strong passwords and dual-factor authentication whenever possible.
So, these were the 3 keys to bring innovation in small businesses, even in tough times.
So…these were the 3 keys to bring innovation to small businesses, even in tough times. Hope you liked this blog and it was able to add some value to your life 😊.
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