Owning and operating a business is a great way to take hold of your destiny, but it’s not a get-rich-quick scheme. Managing a company is hard work, and it’s hardest for those just starting out. Most small businesses fail in a year or less, and surviving that fate requires you to bring you A-game. Here’s what you need to know about creating a successful business using technology.
One of the most beneficial technologies at play in modern businesses is that of e-commerce. Rather, many different branches of technology have come together to enable online retail and other e-commerce services. Online retail is particularly popular because it’s a natural next step for retailers who want to expand because it opens you up to national or international sales at relatively little cost.
E-commerce comes in many forms, however, each with its own strengths and weaknesses. SAASs is one great example. What is SAAS? It’s a term that means “software as a service,” and it refers to software that requires a constant connection to servers and networks. As such, making that software a subscription service allows you to monetize it with those expenses in mind and turn a profit.
On the other hand, e-commerce platforms like a company’s website and the app can provide other benefits to consumers that don’t fall under the umbrella of sales. For example, e-commerce functionality is good for scheduling appointments, or you can implement a rewards program that centers around an app.
Another great branch of technology is that of the internet of things. IoT technology specializes in enhancing various devices with additional functions and connectivity. This can be used to various extents for various purposes, but one such solution for today’s businesses is that of the smart office for data management. Using the latest and greatest AI, IoT tech excels at automation menial labor such as recordkeeping, and this can create an automated data infrastructure that can improve your company’s efficiency.
This kind of automation is integral to today’s e-commerce scene, for starters, but data itself is a core component of your average business. The big data economy demands high-tech solutions, and automating your data management system fits the bill by keeping data clean and ready for processing while saving you money on labor costs. A smart office can also save you a lot of time, with regard to big data, e-commerce, and more. It can even help to expedite various tasks around the office by offering remote control and monitoring.
With the rising importance of data comes the proliferation of hackers. Hackers target businesses in particular because data can have a lot of value. The private information associated with your clients is particularly tantalizing, meaning that e-commerce requires additional considerations for each platform. Securing your website with TLS encryption is an important foundation because this vital security feature is the first line of defense against hackers who could otherwise easily intercept data to do with as they will, up to and including identity theft and the installation of malware to vulnerable websites.
Protecting your app requires additional steps. Because your average e-commerce app is engineered using an API, it will also inherit the weaknesses of said API, including security flaws. Because APIs are available as commercial products, hackers can easily get their hands on them, allowing them to identify their weaknesses. In turn, this allows hackers to initiate a “zero day attack” that can devastate a business’s app and its clientele. Investing in API security is increasingly necessary because the advantages of APIs are strong enough that ignoring them for safety isn’t viable.
Getting ahead in the cutthroat world of business is anything but easy. There’s a lot working against small businesses, and mistakes can cost you dearly. However, technology is always ready to lend a helping hand. These tips can help you survive as a small business until you can grow into a big success.