New technologies are released every day. For those small business owners that have shiny object syndromes (SOS), they can be hard to resist. Many are pushed to thinking that in order to have a competitive edge, they need to offer their customers the latest technology. However, for the good of their company, here are seven that need to be ignored in the next 12 months:
- Smartphone Watch. Wearable technology is a hot topic, but unless your product is related to getting data directly from consumer movements, pass on this technology now. Let’s be realistic; do you really need to look at a watch for an incoming message or call instead of pulling out your smartphone? It’s uber cool (in a Dick Tracy kind of way), but the productivity factor so far is missing.
- 3-D Printers. Need one for the office? Probably not unless there is a physical part you sell that can be created from it, instead of ordering from a supplier. For $500 to $2,000 (supplies not included), you can probably fulfill the need some way else.
- QR Codes. This is a technology that had a lot of promise, but has never been really accepted by the consumer. Most will not go to their scanning app to retrieve the web site location referred by the QR Code. Sit this one out and use a web or social media address on your products.
- Big Data. Analyzing your company with data is a good thing, but small businesses need to forget about going big. The reason is that most owners don’t look at even the simplest information. Do the analysis of your financial statements and your customers’ buying habits before you even think big data.
- Temporary Social Media. This has been a big hit in many teen circles where pictures and messages self-destruct after a period of time. Small business owners should run their companies as if every message sent or posted will last forever. This is the best way to measure company values and actions.
- Google Glass. While this technology has many exciting possibilities, it does not fit into the critical path for servicing your customer. Until Google brings down the price to $500, it will remain only for the leading edge techie and curiosity seeker.
- Bitcoin. Ever since Mt. Gox default disaster, this virtual currency has been derailed. Your customers won’t be paying in bitcoins anytime soon. Easy mobile and online payments should be your only focus
Someday, these technologies may be useful to a every small business, but not today. What technologies are you putting off implementing?