Focusing on Features Over Benefits (And Four More Mistakes to Avoid When Choosing a New Tech Solution)
Using more software solutions in a company is quickly becoming the norm. But not all technology is the same.
Many entrepreneurs don’t understand the difference between a feature and a benefit. To begin with, features are something that a piece of tech offers. It’s a functionality of a program. In the case of power tools, interchangeable bits on a drill are a feature. By contrast, the benefit is the outcome of using those bits - you can drill holes of various sizes. Taking it back to the tech world, the benefits are the results that come from using a specific software in a business. Why is it important to focus on benefits instead of features? It’s because many features are superficial and look better on paper. Now, as promised, here are the other mistakes you must avoid.
Not Using Industry-Specific Software
Is all accounting software the same? Not at all. Unfortunately, a common mistake that business owners commit is relying on non-industry specific software for their accounting needs. Sure, some software may be easier to use. It may even have a convenient learning curve. But those reasons alone aren’t enough to make it a perfect fit for any business.
Using One-Size-Fits-All Software
There isn’t one piece of tech on the market that can handle every function in a company. In fact, putting all of one’s eggs in one basket is one of the worst mistakes anyone can make when buying new software. Accounting software is great for looking at the numbers and making projections. Meanwhile, an invoicing system can automate sending invoices and tracking payments. And other software solutions can handle time-clocking and managing inventory. It’s a mistake to assume that one program can do everything and do it well. Is there software available that does a bit of everything? Yes, there is. It’s just that you can’t rely on such solutions if you want to conquer your niche.
Getting Free vs. Paid Software
No one can dispute that the internet offers a wide range of affordable or free tech that companies can use to monitor and optimise systems and operations. But it is the paid software that comes with extra features worth having in business. It also comes with the ability and calibration to deliver better results. Starting out with the free version should be reserved for testing purposes before committing capital.
Thinking That Outsourcing is Bad
Some entrepreneurs believe that doing everything in-house is vital to success. Or that many tech solutions don’t need purchasing, nor require internal implementation and employee training.
Outsourcing holds the key to dispelling such beliefs. The fact is that it’s possible to outsource many systems, from accounting to IT operations and more. Sometimes, it can even be cheaper or save a lot of time.
Pick Your Tech Carefully
If you don’t use the best software for your business, customer base, and industry, you are only leaving money on the table. Not only that, but it can also blind you to the real issues that need solving. It always pays to do your due diligence when choosing tech solutions of all classes.