Digital smarts — 3 tech tools to help senior entrepreneurs thrive

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Posted on: 12 August 2018 by Amy Smith Brown

Launching a new business isn’t the sole preserve of spring chickens.

 

In the past couple of years, over 50s businesspeople have boosted the UK startup scene significantly — 2016 Centre for Economics and Business Research (CEBR) figures showed that for the first time, entrepreneurs in this age group employed more people than startups operated by younger business owners.

So age isn’t a barrier to bringing new business ideas to fruition — but potentially, lacking the same technical savvy as younger operators might affect long-term sustainability.

If you want to brush up on your digital smarts, here are three tech tools to help senior entrepreneurs thrive.

1.    Customer Relationship Management (CRM)

CRM helps you efficiently coordinate your firm’s interactions with current and prospective customers.

It developed from face-to-face interaction and annual surveys in the 1970s to today’s sophisticated software platforms that analyse data to make every customer touchpoint as friction-free as possible.

When your firm is fresh out the box and only has a handful of clients, traditional phone and in-person contact might suffice — but as you expand, you’ll appreciate the organisational power of digital tech.

Choose a results-driven CRM tool that enables you to synchronise the workflows of different teams, create and share campaigns and record customer interactions — this data-driven approach will help you target new customers effectively while completely satisfying those already on board.

2.    Crowdfunding

You’ll probably be familiar with crowdfunding platforms that allow members of the public to launch campaigns to gather funds for charities and community groups — they’ve equalised fundraising opportunities for projects that may otherwise have struggled to see the light of day.

In a similar vein, if you’re a solo artist or cultural collective looking for sponsorship, you can join a creative membership platform which allows you to build relationships with subscribers who’ll pay for your exclusive content.

This method has allowed many talented musicians, writer and podcasters to reach a wider audience with their work directly — without waiting for traditional publishers, agents and middlemen to decide to engage with them and draw fees for their services.

If you’re converting from hobbyist to professional artist, this approach could smooth the path for your creative plans.

3.    Automated HR

When you’re struggling to pay yourself a living wage, taking care of talented staff and shell out for for marketing, rent and utilities, employing an in-house HR professional probably feels like an unwarranted extravagance.

But adding duties like payroll, time recording, pensions and tax compliance to the plates you’re already spinning might cause the whole kit and caboodle to come crashing down.

Better to buy automated HR software that’s often competitively priced, more precise than human employees and takes the burden of bothersome administrative tasks from your shoulders.

Reliable HR platforms also ensure employee tax arrangements comply with regulations in different countries and might improve employee engagement.

So there are three tech tools to help senior entrepreneurs thrive — adopt them today so your business is fit for the future.

Which tech tools does your business use? Share your tips in the comments section.

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