In the small tech world, it seems like there’s always some software, hardware, service, or gadget that is claiming to be The Next Big Thing. You know the kind of technology that promises to revolutionize your business and the world. The problem is, it can be hard to figure out early on if The Next Big Thing is the real deal (think: iPhone), or just unmerited hype (think: Google Glass).
It can be especially hard for a small business owner to decide if it’s worth spending money on the new technology. So, how do you distinguish the hype from the truth? We’ve collected six key questions you can ask yourself the next time you hear about The Next Big Thing and find yourself wanting to hop aboard.
1. “What Will the ROI Be?”
As a small business, you need every dollar you spend to provide a return on your investment. You don’t have the cash flow of a Fortune 500 company to gamble on investments that might not pan out. When The Next Big Thing’s (let’s shorten that to from now on) hype machine is hard at work, you’ll hear a lot of vague promises and marketing speak about what it can do for your business. Ignore it. Do your own homework and ask questions. Speak to those who have tried it. Try it yourself. Make projections. Consult your accountant. Before you spend anything, make sure you know exactly how TNBT is going to make your money back and how soon.Read More »6 Questions to Ask Before You Buy into the Next Big Tech Thing for Your Small Business