How Modern Technologies Changed the Role of the Entrepreneur

It’s hard to think of an entrepreneur without technology in tow. Unified in their innovation, one seems to have created the other and allowed for progress in every industry and sector. The truth is that entrepreneurs have existed since Day 1, and only now are they advancing even further with the aid of technology. Let’s take a look at some of the technologies that are revolutionizing the entrepreneur space, praised for their simplicity or complexity.

Accounting and payroll software

An entrepreneur mind seems to know no bounds, but typically the mundane and administration tasks are the bottom of the list. This does not negate their importance, but it does make payments and approvals difficult if there is no rigour and process in place. The introduction of payroll software has allowed leaders to unplug from the day-to-day operations of the business, and work on bigger picture thinking that allows for staff to be paid in the first place. The platform affords mobile/remote access, automated features, in-depth custom reporting and a multitude of benefits that streamline processes that have otherwise been a time trap. If you’re accustomed to receiving that email reminding you or your entrepreneur to make payments, this might just be the tool for you and the team.

Workflow technologies

Workflow technologies and apps are leaving entrepreneurs wondering what they ever did before their introduction. Simple in principle, the platforms are designed to allow for task management, time management and communication among members who may sit at desks all around the world. Imagine pitching and winning a prospective client, and then dividing up the work with your team so everyone is aware of the product delivery, deadlines and where to locate the relevant resources. This is all achievable, as well as added functionality that aligns and outperforms your normal work efficiency.

Lead funnel technology

Getting a lead in the door is cause for celebration, and so too is the knockout proposal you deliver to secure that business. Form there? Processes break down and there is little reflection about what stage the lead broke down and what the next steps should be. Lead funnel technology allows you to nurture your leads through a sales funnel, moving them through the stages of ‘lead received’, ‘contact made’, ‘meeting set’ and so on until won or lost. For an entrepreneur you has 500 things on the mind at any one given time, lead management provides a snapshot look at lead capture and can highlight where it falls apart, or where it gets over the line.

CRM programs

Entrepreneurs shy away from this acronym, always of the opinion that they are not quite big enough to necessitate a whole CRM platform and strategy. The truth is, your CRM can be speaking to ten people for 10,000 people. It still needs to be done, and there needs to be a technology in place to make this happen. Many leaders find that this is the step that officiates their operation and announces to the world they have arrived. One piece of advice would be to establish what you want to say and how you want to say it before you get to the point of implementation. Flesh out a three-month plan, and then commit to publishing and assessing your efforts in due course.

The life of an entrepreneur sounds like a glamorous one, but more often than not it can feel like you’re just putting out a lot of fires. Learn and lean on these innovative technologies so that you can get back to breaking the wheel and dominating your domain.