Want to increase revenues? Commit to IT.
Microsoft recently engaged market research firm Vanson Bourne to survey over 3,000 small and midsize firms (SMB’s) worldwide about their use of technology and their revenues. The result: “SMB IT and Hosted IT Index 2010.” Jake Widman recently summarized the findings on Small Biz Resource, the essential IT blog for small businesses. You can see his article here - http://bit.ly/b3pPmH
The Good News
- 52% of all respondents increased revenues in 2009 (compared to only 39% in 2008)
- Nearly twice as many SMBs who view IT as “critical” versus companies who view IT as merely “complimentary” saw increases greater than 30%
The WOW News
- 70% of SMB’s who reported that IT “complements our business but is by no means essential” saw revenues stagnate or decrease.
- Only 40% of SMB’s who view IT as “critical” saw the same trends.
Proof is in the Pudding
I’m not surprised. We, unfortunately, saw a couple of clients close in 2009. They were both firms who viewed technology more as a piece of office equipment than as a productivity or business tool.
We also saw several companies grow, even add employees, in 2009. They are all in our Business Care programs - most at either the SELECT or COMPLETE level.
As much as I’d like to say that our expert proactive approach to maintaining their systems caused their growth, I know it’s not the case. Rather, it was the owners’ approach to business that made their success possible.
Do you share their vision?
- Focus on the strategic decisions
- Ensure products/services are delivered professionally and reliably
- Minimize time employees spend preforming activities not core to their job description
- Keep cash flow predictable and overall expenses in check