Member Article

Some 2017 resolutions for your business

1. Embrace new technologies – Being in business means being in competition and in 2017 that will be truer than ever. One of the key ways that businesses can remain competitive is by embracing new technologies. Generally, the larger the business, the slower it’s going to be to implement new technologies (the costs and risk will be similarly greater).

Thus, for small businesses, embracing the latest tech is a no-brainer; they can differentiate themselves from the larger firms while appearing new and exciting ,and can react quickly to rapidly changing market conditions. For those more established businesses it can feel more risky and less necessary; however you only have to look at fallen giants such as Nokia compared to the astronomic rise of Apple, to understand how fatal misjudging the need for new technologies can be.

2. Make sure you’re compliant – Whether it’s network security or the security of your employees, the New Year is always a good time to make sure you are up to speed and compliant; whether in terms of the law or the known best practices of your industry.

Once you know the regulations to adhere to, smart technologies can take care of much of the difficulty making sure they are followed. Smart video technology, for example can assess if employees are following safety regulations – such as wearing hardhats, monitor restricted or dangerous spaces and feedback this information to employers in real time to minimize risks to both workers and business owners alike.

3. Aim for the clouds – The need for rooms full of whirring machinery and thousands of tangled cables is thankfully coming to an end. In 2017 businesses need to embrace the ability of offsite and cloud computing.

While the ability of cloud computing will grow in power, the costs will shrink as companies effectively split the expenses of industrial scale computing between them. Reduced costs, less physical space taken up and all the IT support taking place in a far-off location will ease one of businesses most common headaches of maintaining tech.

4. Be flexible – As the heavy machinery moves offsite, so do the workers. With instant messaging applications such as Slack, the ubiquity of high-speed broadband and powerful compact computers with ever-growing battery life – not to mention often temperamental transport – the need to be tied to a physical office is lower than ever. Not only could flexible work patterns and allowing employees to work from home create a number of cost savings for your company, it has also been linked to a happier, more productive work force.

5. Be prepared – As 2016 showed, you need to learn to expect the unexpected. Have a plan B and a plan C ready for when events (whether within your business, or in the wider world) do not go quite as you had in mind. Whether you are used to basing decisions off gut-instinct or expert predictions, in 2017 those who succeed will be the ones with a plan ready to go for any eventuality.

This was posted in Bdaily's Members' News section by Scott Brothers .