Should Your Small Business Just Ignore These 7 Technologies?

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technologies you can afford to ignore

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New technologies are released every day. For those small business owners that have shiny object syndromes (SOS), they can be hard to resist. Many are pushed to thinking that in order to have a competitive edge, they need to offer their customers the latest technology.

However, for the good of your company, here are seven that you may need to ignore for now:

1) Smartphone Watch

Wearable technology is a hot topic, but unless your product is related to getting data directly from consumer movements, pass on this technology now.

Let’s be realistic. Do you really need to look at a watch for an incoming message or call instead of pulling out your smartphone? It’s uber cool (in a Dick Tracy kind of way), but the productivity factor so far is missing.

2) 3-D Printers

Need one for the office? Probably not unless there is a physical part you sell that can be created from it, instead of ordering from a supplier.

For $500 to $2,000 (supplies not included), you can probably fulfill the need some other way.

3) QR Codes

This is a technology that had a lot of promise, but has never really been accepted by the consumer. Most will not go to their scanning app to retrieve the website location referred by the QR Code.

Sit this one out and use a Web or social media address on your products.

4) Big Data

Analyzing your company with data is a good thing, but small businesses need to forget about going big. The reason is that most owners don’t look at even the simplest information.

Do the analysis of your financial statements and your customers’ buying habits before you even think Big Data.

5) Temporary Social Media

This has been a big hit in many teen circles where pictures and messages self-destruct after a period of time.

But small business owners should run their companies as if every message sent or posted will last forever. This is the best way to measure company values and actions.

6) Google Glass

While this technology has many exciting possibilities, it does not fit into the critical path for servicing your customer.

Until Google brings down the price to $500, it will remain only for the leading edge techie and curiosity seeker.

7) Bitcoin

Ever since the Mt. Gox default disaster, this virtual currency has been derailed.

Your customers won’t be paying in bitcoins anytime soon. Easy mobile and online payments should be your only focus.

Someday, these technologies may be useful to a every small business – but not today.

Which of these are you putting off implementing?

Wearable Tech Photo via Shutterstock

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Barry Moltz Barry Moltz gets small business owners unstuck. With decades of entrepreneurial ventures as well as consulting with countless other entrepreneurs, he has discovered the formula to get business owners marching forward. His newest book, BAM! shows how in a social media world, customer service is the new marketing.

8 Reactions
  1. I have no desire or interest in implementing any of the above, neither do I have a need for them with what I do.

  2. The smartphone watch and Google Glass are just too specialized for me to see the uses. Are they cool? Very. Will they help productivity or give some other benefit to justify their high costs? That’s where I would answer no.

    I’m not writing off Bitcoin just yet. It needs to mature a little is all.

  3. QR codes are basically the same as the CueCat. Remember the CueCat? Yea, that’s what I thought.

  4. I think it’s fair to say that each of these technologies have in an age group of users which would benefit from it successfully. In our case, when we send out a technician to either install or repair a piece of equipment, the Smartphone Watch would come in handy for them as it would free up one on their hands for working. However, I can see any practical uses in the near future for the other technologies mentioned here.

  5. These are all amazing technological advancements, however I do agree with the author. Some of they have very little application for the small business owner. Realistically speaking, small companies rarely have the excess resources to invest in technologies that are too costly and complicated.

    Having said this however, I must say that I do believe that QR codes and data could be quite useful for small businesses. To begin with, more and more business owners now see the benefits of customer data. It allows them to better segment their audiences, target them appropriately and generally make more informed decisions.

    As for QR codes, I have used them and they have delivered positive results. The reason why businesses like QR codes is because they are cheap to create (which makes them perfect for small businesses with limited resources), they are very popular (and their popularity is only growing), they are fun and interactive, and they can be placed almost anywhere!

    Personally, I would not dismiss Data and QR codes.

    [Edited by Editor to remove links]

    • I still really don’t know what QR codes actually are, to be honest. I should look it up.

      If I was pushed to choose one of the technologies mentioned, I’d go for Bitcoin or temporary social media.

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