3 Smart Technology Buying Rules Smart Business Owners Follow

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These days, it seems like everything in business is technology driven. That’s true on a large scale, where there are always new apps, CRM’s, and automated marketing platforms to try. And, it applies to each of us on the individual level, when we have to decide whether to upgrade things like phones and tablets on a regular basis.

Often, figuring out what’s worth the investment and what isn’t can feel like an uncertain judgment call. After all, each new piece of tech offers faster and stronger performance. But, those gains come at a cost, and the financial sacrifices are growing larger with every new item that hits the market. Knowing that, how can you figure out what you should and shouldn’t spend money on?
Over the years, we have noticed that the smartest business owners and executives follow a set of four simple rules when it comes to buying technology. Today, we want to share them with you…

#1 You Don’t Have to Have the Latest and Greatest Gadgets

You don’t work in our business unless you love technology. So, it shouldn’t be a big surprise that we are fans of every new gadget and upgrade that comes out. We can’t wait to play with them and see what they can do.

However, there is always a business side to these decisions. And, once you get past the marketing hype, it’s undoubtedly the case that the newest and flashiest items don’t always offer significant improvements on previous versions. That’s especially true when you consider that a lot of the “improvements” are ones that everyday users won’t take advantage of.

The bottom line is that you really don’t have to have the latest and greatest gadgets all the time. Sometimes, holding on to an older version of your existing tech is a great way to save money while keeping the tools and features you really need.

#2 You Shouldn’t Necessarily Buy Anything That’s Brand New

Even in cases when it does make sense to invest money in a new piece of hardware software, you might not want to do so right away.

More and more, technology companies are being pushed to rush something new and exciting to the market every quarter, or every year. As a result, some popular tech items aren’t being tested as thoroughly as they could be. That’s one reason you hear about so many device failures and recalls these days.

Not only does waiting a few months get you more reliable technology, but that’s usually the point when prices start to come down, too. So, think carefully about buying brand-new hardware or software if you aren’t absolutely convinced you need it.

#3 Buying New Tech Only Works if it Helps You Meet Your Business Goals

As much as manufacturers might want you to forget this, new gadgets, devices, and software packages aren’t designed just to be interesting or cutting-edge. They should add something new, special, or more reliable to your business.

In other words, you shouldn’t buy anything just because you’re intrigued by it. If it doesn’t have a definite place within your business plan – filling a need or helping to cover a liability – then it might not be an investment worth making. That’s easy to forget when you’re looking at slick presentations and over-the-top product rollouts, but it doesn’t alter the bottom line facts.

Part of making technology a strength in your business is knowing when to spend money and when to hold off. By following our three simple technology buying tips, you can save big chunks of your IT budget while your competitors make common mistakes again and again.

For more smart IT advice, check back to our blog next week. Or, call a member of our friendly team today to schedule a free consultation and technology review!

About Fantastic IT

Fantastic IT is more than just a managed service IT company – they’re trusted advisors and partners that diagnose, fix, and solve the toughest IT problems. Whether it is proactive tech management, real human customer service, or lightning-fast support, we’re here to make IT fantastic for just one flat monthly fee. Find out what Fantastic IT can do for you today.

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