Don’t Make the Kodak Mistake When it Comes to Your Business
Your company is doing well, but could it be doing better? One issue some businesses encounter is dealing with legacy technology. Your small, local business has been open since 1980, and you’re still using the same payroll device that went into use in 1990. It’s time to adapt to new technology, because your old techniques could be costing you time, money, and potentially creating security risks to your data.
How can you make changes to your company that will help it continue to thrive in 2014 and beyond? Here are three tips you should keep in mind.
Don’t Make the Kodak Mistake
Kodak was once a company known for its quality camera products — today, it is better known as a has-been brand after major losses and a bankruptcy. What was the problem? Kodak refused to see the big picture. In 1996, its profits had peaked at $16 billion. Then came the introduction of the digital camera.
Kodak thought they had time to adjust, and kept selling film — they expected emerging Chinese markets to pick up the slack. But the Chinese skipped film and went straight to digital. By 1999, profits had sunk to $2.5 billion, and continued to fall. Rival Fujifilm started incorporating new technology and did well; Kodak dithered. It was the company’s downfall. Be prepared to cut out weak approaches before they cost you your profits.
Don’t Work Around Old Technology
One mistake companies often make is macgyvering their use of old technology, rather than just getting an updated solution. Do you find yourself knocking a computer with your hand to get it working, then having to X out a bunch of outdated windows, and ignoring the fact that the clock says it’s 2005? It’s time to see what better solution can improve for your business.
Use Cloud Computing to Store Data, Software, Hardware
There’s a reason that hardware giant Cisco is spending $1 billion on developing cloud solutions to offer their clients. Many companies see cloud hosting services as the data storage of the future. Converting your business from paper printouts to digital data can reduce the risk of losing paperwork, and can make it easier for you to access the various information you may need at any moment. Having your data online also makes it easier to run through programs that can help you figure out what your business is doing well, and how it could improve. You could even use cloud computing to create an internet phone system.
Are you interested in making sure your company can survive with better technology, such as cloud computing solutions? Let us know in the comments. Find more.