Most business owners I know are constantly challenged and some just out and out overwhelmed keeping up with technology.

Technology relevance now takes up a big chunk of a Company’s budget.

It is frequently the third highest expense a Company faces right behind wages and health care .

It seems you buy version 3.2 of a product today and tomorrow they release version 3.3.

It’s tough to keep up to date isn’t it ?

Here are five reasons you need to be aware of technology changes and the importance of being up to date:

1) Customers Demand It– customers expect you to be up with changes and operating with the latest and greatest developments. This is especially true with younger customers/clients. The younger crowd doesn’t brush their teeth without toothbrush version 5.4 !

2) Competition-The other people out there hustling for your business may snatch it from you just because they can brag they have more bells and whistles than anyone !

3) Bragging Rights-never discount the “cool” factor . A good “wow !” wins a lot of brownie points in today’s struggle to dominate a market.

4) Speed to market-how quick can you get information to your customers and how quick can they contact you. Instant gratification now runs everyone’s life.

5) Efficiency- Darn near all technology is suppose to (key words-suppose to) make our lives better. Life should be easier . It should get the job done quicker. Great features, great concepts to market, but it always comes with a bigger price tag and all too often is more hype than reality.

Now your turn-what stories, policies, procedures do you or your company have to deal with all of this.

I’d love to hear some good, bad and ugly stories you are willing to share!

tech geek