Golden Rules For Buying Business Tech

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motherboard business technology

If you’ve recently started a business, or you’ve been running it for a few years and you’re starting to fear that it’s under-equipped, you may want to treat yourself to some new tech. Whether you’re trying to equip all facets of the business or just choose a single piece of equipment, here are a few universal rules you should follow when buying new tech…

Know What You Need

When it’s time to buy some new tech for your business, it can be easy to get taken in by advertising rhetoric, and pay for features that you’ll never really need. Virtual reality may sound new, exciting and attractive, but if you’re never going to actually use it, it’s not worth paying a high price for the technology needed to facilitate it. After all, it’s generally a much smarter move to subscribe to services like this: https://www.alertmedia.com/emergency-notification-system than to pay a small fortune for physical equipment just because you want to wow your customers. On the other hand, you may not have much of a need for a particular feature right now, and choose to forego it, then realise it’s something you desperately need further down the line. Know what you need, and let necessity dictate your buying decisions.

Think About Last Year’s Tech

It’s pretty common for new, inexperienced entrepreneurs to pay high prices for what they see as the latest and greatest technology, and end up getting burned by the decision. Unless you know you need a certain high standard of performance, or a particular feature that comes at a high price, it’s usually worth looking at the previous generation’s technology for more cost-effective options. Slightly older technology may not be too far divorced from the standards you need, and can often provide much greater value for money. While reaping these kinds of savings can be a very smart move, it’s also important to make your business future-proof. Technology is changing rapidly, and new pieces of equipment and software have the potential to change the standards of any industry overnight. This is where buying older tech can be a delicate balancing act. You can save a lot of money, true. However, if the tech you buy is going to be obsolete in the next year, spending on it will be a waste. You can read more about future-proofing here: https://www.entrepreneur.com/article/251875 .

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Shop Around

Finally, make sure you’re scouring the market for different options before you spend a penny on any new tech. The chances are high that if you spend a little more time shopping around, you’ll be able to find a given device or piece of software at a much lower price. This won’t always work. For example, Apple makes sure that their products have a universal price at pretty much every retailer. However, unless you’re given an amazing deal right off the bat, it’s important to check out your other options. It doesn’t feel great to stumble across a bargain after the fact!

Before sourcing any new business tech, make sure you’re following these rules!

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Student @ Advanced Digital Sciences Center, Singapore. Travelled to 30+ countries, passion for basketball.