As a small business owner of today, you should not become a technophobia. Although tech is not a critical success factor for your small business, it’s definitely helping you to access new opportunities which are only available to tech adopters.
The important of small biz tech for your growth is magnified and amplified by the accessibility to Internet and mobile technology.
Using tech tools and apps like Skype, Trello, Basecamp and so on enables you to establish presence via partnership with people overseas. Those tools blur geographical boundaries, which means big opportunities are now accessible worldwide.
The next big question is: How to expand your business using tech tools?
To inspire you, this Singapore Session video about business model innovation can help you. The video features two business leaders, Andrea Illy of Illy Coffee and William Lauder of Estee Lauder, who talk about their business model innovation.
What we can learn from the intro video above is the fact that it doesn’t really matter what business model you adopt to achieve your goals. What matter is your ability to execute your strategy. Here are a couple of ideas:
- Do it the Estee Lauder way: If you are a software company, you can license your products to local business partners and have your software translated to the local languages and even have features relevant to that particular region
- Do it the Illy way: If you produce an iPad accessory, be sure that your product gives the same experience for the consumers in any part of the world.
Again, deciding on your business model – and gear everything toward the model – is important in fostering company growth.