The unfortunate truth is that a staggering number of businesses were forced to close their doors due to the COVID-19 pandemic. While some have learned to adapt to the ever-changing World—most have not.
If these industries took advantage of new technology, there is a chance that their doors would still be open.
To grasp the benefits of technology for you and your business, read on!
Benefits of Technology in Business
We have many advantages when it comes to technology. While we may have been limited in business in the past, technology opens up possibilities for us.
1. Employee Satisfaction
Employee satisfaction will improve with the use of technology. Technology frees us up both mentally and physically. We can now do things in ways we haven't before.
Flexible Schedules
Technology frees up our time. We no longer need to work 9-5 jobs anymore. Technology offers us the ability to choose when we work and for how long.
We are now our own boss. Work as long or as little as you'd like. Need a day off? No problem, you decide. The days of playing hooky are over.
Remote Control
Nowadays, we do not need to be in a central location for us to work. Remote working has been around for quite some time.
In the wake of the pandemic, many of us have been adapting to a new way to work from home.
Adjusting to this was a bit of a shock, but now it feels very normal. This form of working has many benefits.
Working from home saves time and money. No longer do we have to commute and stress from an office.
Old Into New
Many people still prefer traditional ways of doing things, while others are ready to take things into the future. This website is a great resource to guide you from the old to the new.
2. Customer Satisfaction
Satisfying customers is the name of the game. How can we do this with technology? With apps nowadays, we have a direct line with our customers. We can see what's working and what we need to improve.
3. Rating System
This communication line is often showcased through a rating system. If customers like us and our business, this will result in a higher rating. Other customers can see how many likes we get and even leave reviews.
More positive reviews equal more income.
4. Multiple Streams of Income
We can now leverage technology by having multiple streams of income.
Some income streams will be active, while others are more passive. Some may even be a hybrid approach.
Once you find what works for you, there is no limit to how many you can have going at once. Traditional jobs limit us with our time and energy—technology disrupts this.
Below are some examples to get you headed in the right direction with the gig economy.
Airbnb
People often prefer Airbnb over hotels these days. They are less expensive and offer a more personal touch to the location.
Do you have an extra room in your home? Your garage could be a cash cow. With these spaces, you could earn secondary income by renting them out to guests.
Imagine having multiple Airbnb's set up to where you are earning income passively. The process is straight-forward and interacting with your guests is a breeze. Everything you need is within the app's control.
Turo
Turo is the Airbnb of cars. Renting out your car is a great way to earn additional income. By allowing people to borrow your car, you can sit back and watch the money roll in.
Doordash
Doordash is a great way to earn money. This app is a wonderful platform whether you are the business or "employee". As a business, you will attract many customers who are looking for your restaurant to deliver.
This is the new normal for food delivery. Gone are the days of having to call the restaurant, place your order, and wait for your food.
Your customers will love you for providing a third party to your restaurant. People love the comfort of firing up the app and benefiting from the tech!
As a side-gig, Doordash is a sure-fire way to bring in the green every week.
Fiverr
Do you need an article written? Are you are looking for a web designer? Fiverr offers inexpensive solutions for your business needs.
Tons of creatives sign up for Fiverr and offer their talents and services for a nominal fee. You will definitely save money by heading to Fiverr and hiring a freelancer.
As a freelancer, this is a wonderful platform for you to get exposure and receive an abundance of income.
5. Smartphone Marketing
We don't need much to produce high-level marketing these days. All we need is our smartphone and an idea.
This of course is very exciting and cuts down the cost of production in a major way.
Many platforms such as YouTube and TikTok offer great exposure to your business. People build entire businesses with their smartphones.
By creating content you will gain interest and build traffic—especially if you go viral.
Going Forward With Technology
To get ahead in business, we must capture the benefits of technology. To capitalize, we must keep our eyes and ears open to improve service businesses.
Take some time with our articles to further educate yourself in all facets of business. We publish a wide variety of helpful articles on tech and service businesses, right here on the Bootstrap Business Blog.
