By Ed McLaughlin with Wyn Lydecker
Nowadays, it seems that tech startups are the only ones getting media attention. But many entrepreneurs are launching non-tech startups, just as I did. When you are developing a non-tech startup, intelligent use of technology can create a distinct competitive advantage, tighten your relationship with customers, improve access to critical information, and generate a recurring profit stream.
In my case, I set out to use innovation, speed, and service as the three factors that would continually set our company apart from competitors and make our offerings indispensable to customers. We knew that developing specialized technology would enable us to achieve these goals.
5 Questions to Ask About Technology
Here are some of the questions you should consider before you employ new technology or develop proprietary technology in your business:
- How can you utilize technology to generate additional revenue streams?
- How can you apply technology to streamline your operations?
- How can you utilize technology to improve customer relations?
- Can you develop software applications that provide critical information?
- Can you utilize technology to differentiate your business and create a sustainable competitive advantage?
Apply Tech to Your Non-Tech Startup
When I was developing my new business idea for the real estate services industry, I planned on applying my high-tech background from my days working at HP to the low-tech world of real estate. I understood the value of systems integration and believed that it could be used to manage the incredible variety of information and relationships associated with corporate real estate portfolios. Systems integration turned out to be a distinguishing characteristic of our business model, ultimately creating a disruptive new service sector. That’s why I named my company United Systems Integrators Corporation, or USI.
Today, the technology platforms available are growing exponentially, and with them, the opportunities to create businesses of incredible lasting value. If you are not the tech person in your business, make sure you invest in finding a good one. Eventually, USI hired a CFO and CTO who used information technology to improve the flow and use of information throughout our organization and with our customers. Hiring our own coders, we developed proprietary software, called Sequentra, which became a new business within our business. We offered our application to our customers and even our competitors. Sequentra has become the industry standard in real estate services information software.
Are You Ready to Start Up?
If you are ready to take the step and fulfill your new business vision, The Startup Roadmap is designed for you. For a limited time, you can get a complimentary eCopy of The Startup Roadmap: 21 Steps to Profitability by clicking this link. If you prefer the print edition, you can purchase it directly from Amazon for $9.99.
Once you have read The Startup Roadmap, please let us know what you think by emailing us at: email@example.com.
Ed McLaughlin is currently co-writing the book, The Purpose Is Profit: The Truth about Starting and Building Your Own Business, with Wyn Lydecker and Paul McLaughlin.
Copyright © 2015 by Ed McLaughlin All rights reserved.