These days, the annual release of increasingly powerful computer upgrades hardly surprises us anymore. The recent wave of technological disruptions however is more than just a bump up in specifications. Instead, it gives everyone access to business tools that were available to only a small number of wealthy corporations just a few years back. It is almost as if an invisible force has opened a jar with lots of bottled-up creativity that is bursting with all kinds of enterprises, startups, and freelance outfits. Now, with the lid off, the magical effect of technology is bringing down barriers of entry in almost every important business function – distribution, marketing and operations.
DISTRIBUTION OF WARES DIRECTLY AND GLOBALLY MADE EASY
Remember the early days when merely creating a decent webpage required advanced knowledge of HTML? Otherwise, the alternative of hiring someone to build it would mean a significant upfront investment. Today, you can simply build and launch a site for your latest business idea using WordPress and other similar visual website builders, all within a day. Or, easier still, set up a business profile on one of the major social media platforms. Crafting a compelling online storefront for prospective customers is now entirely accessible to anyone with the abundance of free or open-source solutions.
Regardless of whether you are looking to reach local, international or specific trade buyers, choices are many. For goods, merchants can reach local and international buyers through e-commerce platforms such as Carousell, Amazon and Shopify. Similarly, musicians can skip big labels and reach fans directly on Bandcamp and SoundCloud. Even traditional industries like dining are seeing the rise of online-only restaurants that operate exclusively through UberEats, GrabFood and other delivery services. Be it establishing an online presence or making business transactions, technology has put the tools within easy reach.
MARKETING YOUR BRAND WORLDWIDE AT AFFORDABLE COST
Those who still own a TV may have noticed that advertisements running during commercial breaks come mostly from large, well-known brands. This is because airtime on television remains incredibly expensive. Other traditional forms of marketing like buying print ads or classified announcements in magazines or newspapers are also beyond what most small businesses can typically afford. However, platforms such as Google, Facebook, LinkedIn, Twitter and others have changed the game entirely. Not only do they allow anyone to promote their work for literally a few dollars, businesses can also choose to target people most likely to be interested in what they have to offer – linking them directly to prospective customers.
This dramatic cost reduction is just one aspect of the democratisation of marketing that technology has brought. What’s perhaps more important is that these new platforms provide intuitive self-service interfaces that give everyone the ability to design, create and analyse their ads without a steep learning curve. Anyone can be Don Draper with a personal advertising agency right on their smartphones.
OPERATING YOUR BUSINESS EFFICIENTLY AND EFFECTIVELY WITH TECH
Then there’s the nitty-gritty of running the business. On one hand, office operations such as accounting, invoicing and inventory management may sound trivial; on the other – how many potential entrepreneurs were turned off by the prospect of having to deal with these labour-intensive, expensive and tedious tasks?
Technology comes to the rescue again, compressing an entire back office into a few phone apps such as QuickBooks, On Shelf and Wave. These software don’t just help to keep costs low and free up more time for creative work, but also facilitate new viable business models, including one- person enterprises. What better use of technology can there be than helping people do what they do best?
OPPORTUNITIES FOR GROWTH ARE EVERYWHERE
As more incredible tools are delivered into our hands, there is every reason to look forward to even more opportunities in the future. As it is, we are seeing startups in Singapore offering 3D printing services today. Combined with increasingly lower prices and availability of intuitive modeling software, it is almost a certainty that on-demand manufacturing will bring back the maker in all of us – only now with the ability to earn a living.
Then there’s also Artificial Intelligence (AI), which many people still associate with sci-fi movies. In reality, powerful machine learning services from Google, Amazon and IBM are already readily accessible through the cloud – even on the cheapest laptop. And as with all things tech, access to AI will only become more affordable and more user-friendly for creators in the not so far future.
Yet, while we are truly at the very start of democratisation of tech and every industry – we should explore these new possibilities with a caveat. Even though some processes have been made simpler, certain elements like expertise and hard work stay unchanged and crucial. The fact remains that anyone can use the technology, but not everyone will be able to use it well. However, for those who have great ideas and skills to support it, the world is their market.
First published in the IT Society Magazine by the Singapore Computer Society