Adopting the right technology – Startup essentials

Some say the business world has come to the point of ‘adapt or perish’. Technological changes are happening so fast that entrepreneurs are having to catch their breath while trying to keep up. But at this point, there isn’t much of a choice. You either get your business to adopt the right technology or get ready to perish in a sea of sharks.?

The right technological adoption could save you from running out of business and filing bankruptcy. If you don’t understand how this happens, read to find out what caused Kodak to file bankruptcy and leave the photography business in 2012.?

So what should you have in mind when choosing the technology to adapt your business to?

Look out for ecosystem collaboration.?

If you want to succeed, you cannot adopt a technology that sticks out like a sore thumb, instead of blending into the current ecosystem. Imagine launching an app that neither works with Android or iPhones. The result is better imagined than experienced. So, even though your choice should factor in changing trends, it should also be able to fit into the current ecosystem.?

Be flexible.?

Trends change and what used to account for your major income may not be able to rake in enough in the coming years. Understand when it is time for a change and make it. Microsoft noticed when the trend was changing from desktops to mobile devices and understood that it would no longer dominate the tech space if it did not make a move. Pivoting to cloud services with the launch of Azure services paid off and saved the company from going under.?

If you are just starting your business, do proper study and projection so that you launch out with a technology that fits into the future of your space, not just the current.?

Skill availability /shortage?

You will need people to man the technology you adopt. You should try avoiding a situation where you have to keep importing skilled personnel from other countries.?

It should be outcome-driven.

Nothing else will matter about the technology you adopt if it cannot produce the desired results. Partners and investors want to see that what you have chosen to adopt is one that will optimize the processes, generate revenue, enhance user experience, and is also secure. Pick the technology that drives the outcome you want.?

Ergonomics

The term means efficiency in utilizing resources to get the best results. If it is possible to use a machine that sits on a desk with just one operator, why would you go for a machine that occupies a 14ft by 20ft room, and requires 6 operators? Even if they both achieve the same results, ergonomics states that you go for the one that better utilizes your resources. There is no one to impress by spending more resources to achieve the same results. If your app can be designed for 5MB storage, no need to make it 20MB just so that it looks big.?

Where possible, adapt a hybrid.?

In the drive to get the best technology to adapt, you can create a hybrid of different systems to get the best of both worlds. This also makes you easily adaptable to changes and emergencies. The coronavirus pandemic made it clear to businesses that remote working could become a thing to consider. After the pandemic, several are trying to go fully remote while some still require full physical presence. The best value is however going to those who create a hybrid of both systems. This can also apply to the choice of technology.?

While choosing a technological fit for your business, you could encounter challenges in the area of Data collection and curation (to develop specific solutions rather than general); and the question of timing (how right that technology is at that point of your business).

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