Posted at 9:58 AM
There’s no need to build your business alone; that’s why the Minority Business Development Agency maintains a network of industry leaders guiding the way for the nation’s entrepreneurs. Learning from peers and mentors lets you in on insider knowledge, but don’t forget to check-in with the broader business community and learn ways to tackle age-old challenges with new technologies. The next time you go over your business plan, consider these five digital innovations driving the industry towards faster growth and efficiency.
Mobilize ● User Experience Optimization
Search engine algorithms prioritize mobile and tablet-friendly web designs. Businesses can mobile-optimize their websites with simple layouts and intuitive features, like click-to-call, to enhance online presence and drive user traffic that is increasingly sourced via smartphone.
Go Fund It ● Financial Technology
Financial technology, or fintech, is modernizing entrepreneurial lending by providing more accessible end-to-end services, like mobile banking and automated investment offerings. Learn more about access to capital and lending platforms with MBDA and Fundation’s fintech webinar.
Better Together ● Collaborative Workforce Tools
Business success demands ongoing interface and exchange among coworkers, and while there is no substitute for emails, phone calls, and in-person conversations, collaborative workplace tools can streamline internal communications. Software applications like Slack, Google Docs, Skype, and Asana allow employees to connect organically and in real-time.
Hack No ● Fraud Detection
Small businesses are the most common target of employee theft and fraud, which can go undetected for months and cost employers thousands of unrecoverable earnings. Quickbooks’ Audit Trail is a simple feature for tracking unauthorized transactions, and it can complement traditional auditing practices to easily identify financial irregularities.
Use a Lifeline ● Technology Transfer
Prioritization of technology transfer, the process of transferring new tech and research from lab to market, holds the key to businesses developing patents for more government-funded projects. Learn more about MBDA’s Inclusive Innovation Initiative to determine how MBDA can help your business take advantage of grant opportunities and federally funded research investments.