Using AI to Unlock Business Growth

How to Start Using AI & Best Practices for Business Owners

It's a new world. With AI only taking the stage a couple of years ago, navigating how to start and what you need to know can be overwhelming.

Technology is rapidly transforming how businesses operate, offering unprecedented opportunities for growth, efficiency, and innovation. But while these advancements have the potential to streamline operations and drive results, the key to unlocking their true value lies in how you use them.

As a business owner, embracing technology isn’t just about implementing the latest tools—it’s about understanding the right questions to ask and aligning your tech strategy with your business needs. Success starts with a solid strategy, and the foundation of that strategy is asking the right questions to guide your initiatives.

Why Questions Matter More Than the Tool Itself

It’s easy to get caught up in the excitement of new technologies—automation, data-driven insights, and cutting-edge software. There is something new every week.

But without a clear focus, tech can become just another shiny object that doesn’t deliver meaningful value. The real power of technology lies in how you use it to solve your business’s unique challenges.

To effectively leverage technology, you need to start with a deep understanding of your business’s pain points and growth opportunities. The questions you ask will shape the entire process. Where are you losing time or resources? What goals do you want technology to help you achieve? What areas need improvement?

The key is to view technology as a strategic growth partner—not just a tool. And like any good partner, it needs clear guidance and direction. That’s where understanding the strategy comes in.

Asking the Right Questions

As a Business Strategist, I've completely revisited how I coach my clients. What would take me a month to complete in draft can now take me a morning. With research and resources at your fingertips, there is no limit to potential opportunities. But you need a starting point to get clear on what you have and what you need.

To help business owners unlock the full potential of technology, I’ve developed the Evalu8 Framework—a comprehensive approach to assessing and strategizing across the critical areas of your business. This framework is designed to help you look at the big-picture and pinpoint the right questions to ask, and identify where technology can deliver the greatest impact.

Following my Evalu8 framework, let’s walk through the 8 key areas and the types of questions you should be asking to harness AI effectively:

1. Leadership - How can AI support decision-making at the leadership level? Are we using AI tools to track and analyze key performance indicators that guide executive decisions?
2. Revenue Streams - Which revenue streams could benefit from AI-driven insights to optimize pricing, customer segmentation, or demand forecasting? Can AI help identify new revenue opportunities by analyzing customer behavior and market trends?
3. Operations - Where can AI automate repetitive tasks and streamline workflows? How can AI-driven data improve our operational efficiency and reduce bottlenecks?
4. Team - How can AI tools enhance team productivity or enable better collaboration across departments? Are there areas where AI could support HR in recruitment, performance management, or training?
5. Customer Experience - How can AI be used to personalize customer interactions or predict customer needs? Can AI-powered tools help us improve response times, service quality, or customer satisfaction?
6. Marketing & Sales - How can AI optimize our marketing strategies through data-driven segmentation, targeting, and campaign analysis? What sales processes could be improved with AI, such as lead scoring, prospecting, or customer follow-ups?
7. Financials - How can AI help us forecast cash flow, optimize expenses, or identify financial risks? Can we use AI-driven analytics to create more accurate financial models or reporting?
8. Strategic Opportunities Planning - What emerging trends or market shifts can AI help us identify for long-term strategic planning? How can AI support us in scenario planning or evaluating potential growth opportunities?

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Best Practices for Using Technology as a Growth Partner

Now that you have a clearer understanding of the questions to ask, here are some best practices to ensure technology drives real value in your business:

1. Start with Strategy, Not Tools - Too often, businesses invest in software or tools without a clear strategy. Start by identifying the areas where technology can deliver the most value. Use questions to guide your initiatives and avoid wasting time on tools that don’t solve the right problems.
2. Focus on Data Quality - Technology is only as good as the data it uses. Ensure that your data is accurate, complete, and relevant. Clean up your systems, processes, and data sources to maximize the impact of technology. A recent study shows that businesses that use data analytics effectively can see a 40% increase in productivity (source: McKinsey & Company).
3. Prioritize User Training - Even the most advanced technology can only be effective if the people using it understand how to leverage it properly. Invest in training your team on how to use new tools, interpret data-driven insights, and make informed decisions based on those insights.
4. Measure and Iterate - Implementing new technology isn’t a one-time project—it’s an ongoing process. Continuously measure the outcomes of your initiatives and adjust your strategy as needed. Be flexible and open to evolving your approach based on what works and what doesn’t.
5. Focus on ROI, Not Hype - The goal of any tech investment is to deliver a return, not just to chase the latest trend. Ensure that every new initiative you undertake is tied to measurable business outcomes, such as increased revenue, cost savings, or improved efficiency.

Technology as Your Strategic Growth Partner

Technology can potentially transform your business, but only if you approach it with the right mindset and strategy. You can turn technology into a true strategic growth partner by focusing on the right questions—using frameworks like Evalu8 and aligning initiatives with your business priorities. Take an inventory of your entire business and start playing around.

Remember, you know your business better than anyone.

Don't outsource this strategic activity.

If you’re ready to explore how technology can drive your business forward, I invite you to reach out. Let’s talk about how we can uncover new opportunities, streamline operations, and set you up for long-term success.

Sara Phelan is a small business expert, advisor, and coach who helps entrepreneurs and leadership teams get strategic, overcome obstacles, and take products to market. Her business diagnostics and planning expertise have aligned vision with action for over 25 years, empowering people to maximize organizational performance through strategic planning, leadership, operational efficiency, and training. Sara is an Mom, Award-Winning Entrepreneur, published Thought Leader, Business Operations and People Strategist who is passionate about technology, training and setting small business owners up for success by Asking the Right Questions.