Harnessing Technology: A Small Business Owner’s Guide to Digital Empowerment

In a digitized world overflowing with technological advancements, it’s imperative for small business owners to navigate the maze of technology with confidence and efficacy. During a recent episode of The Ownership Advantage, Jeff Floyd, President of CMIT Solutions in Round Rock, joined Tanner to demystify technology for small business owners. Here are the insightful takeaways from their enriching conversation.

Understanding Your Technology Needs: Read the Fine Print

It’s easy for business owners to get overwhelmed with the technological choices available today, yet it is crucial to start with a strategic mindset. Jeff emphasizes the importance of reading the "fine print" when selecting technology solutions. Before signing any contracts, ensure you comprehend the terms, specifically regarding ownership of data. "Where is your data? How do you get to it and who owns it?" Jeff asks, urging businesses to be diligent about their data’s sovereignty. This due diligence will ensure that your business retains control and security over its information, an often under appreciated but critical asset.

The Integration Quandary: One Size Does Not Fit All

Deciding whether to adopt a single integrated system or utilize different software for each department can be a conundrum. Jeff presents the age-old debate in IT strategy: "best in class" versus "fully integrated" solutions. While standalone systems offer specialized features, they might lack seamless integration, causing potential hiccups without adequate middleware solutions. On the other hand, integrated systems offer a unified approach, which might necessitate business process alterations to fit the system’s model. Each business’s needs will dictate which is a more suitable approach, considering the distinctiveness of their operational flow.

Cybersecurity: Small Steps, Big Security

Cybersecurity should not be viewed as a daunting task, but more as an essential practice according to Jeff. He advises adopting a mindset akin to maintaining physical premises security: "stop thinking about it as this big, ugly, hairy goal and start thinking about it as just good practice." Small business owners are encouraged to understand frameworks such as the National Institute of Standards and Technologies (NIST) guidelines, which provide practical steps to secure systems without causing undue stress or complexity. This ensures the preservation of assets such as customer data, which are gold mines for potential cyber threats.

Embracing AI: The Path Forward

The discussion on Artificial Intelligence (AI) reflects its inevitable role in modern business operations. Jeff underscores the necessity to read the fine print, especially when distinguishing between free and premium AI services. Playing cautiously with AI initially, using test data, allows businesses to get familiar with its benefits without exposing sensitive information prematurely. The objective is clear: businesses must not shy away from AI. "There are going to be two businesses: those that use AI and grow, and those that do not," Jeff asserts. Embracing AI tools, scrutinizing vendors diligently, and determining where AI can enhance efficiency and innovation within operations remains crucial for sustained growth and competitiveness.

Conclusion: Your IT Advisor Matters

Jeff’s closing advice resonates with the timeless adage, "know a lawyer before you need a lawyer," but applied to the IT landscape. Aligning with a trusted IT advisor before urgency strikes is invaluable. Understanding your technological footprint is not just about choosing tools, but about forming strategic partnerships that ultimately support and drive business success.

In sum, navigating the technological terrain requires informed decisions and strategic planning. With insights from experts like Jeff Floyd, small business owners can transform technology from a puzzling challenge into a powerful lever for growth and efficiency.

Learn more about Jeff: https://cmitsolutions.com/roundrock-tx-1071/ 

Check out the full episode on YouTube here: https://youtu.be/3wDPmB-BwCI 

Listen to the full episode on Apple Podcasts HERE