Adedeji Awolesi

During my recent summit with small business owners, I encountered so many questions, ‘As a small business, is technology necessary?’, ‘Why do I need investment in tech?’, ‘As a solo entrepreneur with a micro-enterprise running a small operation – why should I consider tech for my business?’ My response has always been the same, regardless of the size of your business, incorporating technology is essential for business success.

In todays blog, I will be clarify what I mean by small/micro-enterprise business, explore technology, the concept of technology, explain why investing in it is essential, demonstrate how technology can accelerate your business growth, how technology can be adopted and share some Microsoft tools.

Changing Landscape for Business

In todays fast paced digital world, technology is no longer a luxury for small businesses. it is a necessity. Imagine running business operations without smartphones, social media and internet engagement, it is hard to picture right?. This is why technology has become an essential tool for businesses of all sizes. While big businesses often dominate tech headlines, it is smaller businesses that gain the most from adopting newer technologies. From streamlining operations, increasing productivity to enhancing customer engagement, the right tech tools can propel small businesses into new realms of efficiency and growth.

Small Business/Micro enterprise

Small businesses are defined as those with fewer than 100 employees and a relatively modest annual revenue. However, for the purpose of this discussion, I am focusing on micro-enterprises, which have even fewer resources—usually between 1 – 20 employees. These businesses typically operate with limited resources, focusing on niche markets or local communities. This can range from shopping store, boutique, saloon, bakery to online services operated by solopreneurs. The common thread among these businesses is their flexibility, adaptability and allowing them to respond quickly to market changes. However, this agility can only be fully leveraged when supported by the right technology.

Understanding Technology

When I talk about technology, I am not referring to the latest gadget or software. Technology in the context of micro enterprises business refers to tools and systems that can automate processes, enhance communication, and improve overall efficiency of the business. These include;

• Software Solution: Accounting, customer relationship management (CRM), e-commerce platform, project management etc
• Marketing Technology:  Social media management, email marketing and analytics tools.
• Communication Tools: Email, video conferencing and instant messaging platforms.
• Cloud Services: Storage, collaboration tools and data analytics.
• Cybersecurity solutions: Antivirus & spams, risk mitigations etc

Why is technology essential?

As a small business, investing in the right technology can have a profound impact on your business.

• Increased efficiency and Productivity : Technology automates routine tasks, allowing you or your team to focus on more strategic initiatives like product development, sales or customer service. For instance, I once consulted for a small business owner who was trying to interview new employees and sort invites for many applicant. Just a recommendation to a tech application sorted out all the manual process the business owner would have gone through which then allowed the focus more on interview procedures.
• Improved Customer experience and Engagement In todays customer-centric world, customers expect seamless interactions. Technology can help small business owners to interact with customers effectively, provide personalized experiences through targeted marketing and build long lasting relationship. An active social media presence, well designed website, chat bot, e-commerce platform can help businesses to engage with customers, provide timely support and drive sales.
• Better decision making: Technology analytic tools can help businesses gather and analyse data to gain insights into customer behaviour, market trends and operational performance. With affordable analytic tools, some imbedded into social media can help business owner make informed decision and identify new opportunities. I have previously worked with a micro business owner in using business intelligence tools to provide insights into customer behaviour, product reach and insights which helped the owner to make strategic decisions that drove up profitability and growth.
• Competitive advantage: Small business that leverage technology have competitive advantage and stand out among similar businesses or larger players within same industry. This will allow them to innovate and differentiate themselves from their competitors. For e.g., a company that leverage data insights can strategies with effective marketing strategies which can attract more customers, established themselves as a leader in their niche which will drive better results and dominate the market.
• Cost Savings: Investing in technology can lead to significant cost savings in a long run for small businesses. Digital marketing is cost effective than traditional marketing methods, automating tasks is more cost effective than manual labour and investing in cloud computing is cost effective than hardware IT infrastructure. I once consulted for a graphic designer and recommended the use of tech collaboration tools to collaborate with clients and manage project, eliminating the need for office space. Adopting this tools enabled the business to cut cost, operate lean and improve efficiency.

Technology adoption

As a tech consultant, guiding small business or micro enterprise on technology adoption is not just an option but a necessity. This involves a strategic approach tailored to their specific needs and goals. I will be sharing some steps that help to integrate technology into their operations:

• Needs Assessment and Goals: Before I recommend any tech tool, I need to understand the current state, existing tools (if applicable), pain points, areas for improvement and set clear goals.
• Research and select appropriate tools: Based on the needs assessments, I identify relevant tools based on my research and I choose tech platform that aligns with their business needs. This is where I select scalable and cost-effective technology solutions, leverage SaaS products, focus on integration and also evaluate options.
• Create adoption roadmap: Adoption doesn’t have to happen all at once. A phased approach allows to implement new tools gradually, minimizing disruption and spreading out costs. We can set out milestones, timelines, testing and expansion into the plan.
• Training and Onboarding: Investing in training ensures that the employees can fully leverage the new tools. I organise training session with businesses to familiarise with tools, workshops, webinars, one-on-one sessions, user guides and encourage feedback for improvements.
• Monitor and Iterate: Track performance and usage of the tool using analytic to gather insights, solicit feedback on tools for improvement, make adjustments based on performance data and plan for future growth.

Microsoft tools

As a Microsoft MVP, it is impossible for me not to highlight Microsoft suite of technologies and how it can significantly benefit small and micro businesses. These tools are designed to enhance productivity, streamline operations, facilitate communication and making them ideal for businesses with limited resources.

• Microsoft 365: This is a cloud-based suite of productivity tools that includes Word, Excel, PowerPoint, Outlook and more. It helps small businesses streamline their operations, enhance collaboration, and improve productivity.
• Microsoft Teams: This is a powerful communication and collaboration platform. It integrates with other Microsoft 365 apps and allows businesses to conduct virtual meetings, chat, share files, and collaborate on projects.
• Microsoft PowerBI: This is a business analytics tool that helps businesses visualize and analyse data. It enables small businesses to make data-driven decisions by providing insights into customer behaviour, sales trends, and operational performance.
• Microsoft Dynamics 365: This is a suite of enterprise resource planning (ERP) and customer relationship management (CRM) applications. It helps businesses manage customer relationships, streamline operations, and improve financial performance.
• Microsoft Defender for Business: This provides advanced security solutions to protect small businesses from cyber threats. It includes features like threat detection, endpoint protection and automated response.
• Microsoft OneNote: This is a digital note-taking app that helps users capture, organize and share notes across devices. It’s useful for managing information and collaborating on projects.
• Microsoft bookings: This is an online scheduling tool that allows businesses to manage appointments and bookings. It integrates with Microsoft Teams and Outlook, making it easy to schedule and manage meetings.
• Microsoft Azure: This is a cloud computing platform that offers a wide range of services – including virtual machines, databases, AI tools etc. Small businesses can use Azure to host their websites, manage data and develop custom applications.

A worthwhile Investment

By embracing technology, small business and micro enterprises can unlock new opportunities, drive growth and ensure long-term success. The key is to assess which tools align best with your specific business needs and goals, ensuring that technology is not just adopted for the sake of it, but is truly integrated into the core operations of your business. Adopting the right technological tool offers a way to streamline operations, enhance customer experiences, expand reach, and stay competitive in an ever-evolving market.

So, what’s stopping you? Start small if you need to—maybe with a simple website or a social media presence. But don’t underestimate the power of technology to transform your business. The benefits are clear, and the time to start is now.

Thank you for reading and please reach out for any guidance, questions or consult.