Should SMEs Continue Investing In Technology?

There is a common misconception among SMEs that, at some point, they will be done with technology. For example, after implementing an ERP solution, the company may assume that they are at par with their competition. So, they are done with technology investment for some time.

Here is a question for you:

Should SMEs continue investing in technology after major ERP implementation or another significant digital initiative?

Look, the answer is yes! Simply because in the current environment, you are never done with technology. Implementing technology on an ongoing basis is becoming a necessity now. So as a business you will never be able to claim that you are done with technology.

So, nurture the talent and resources to develop technology implementation capabilities within your business. Consider forming a Digital Capability Development Team within your business. This will be your first step toward committing to ongoing investment in technology within your company!

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We can be good. But first, we must know what good looks like. The standard response to the following questions is often – Yes, we are good! How well are your business systems supporting your current and potential future needs? How are you managing continuous business...

Leave life alone, and it will complicate itself. When we are on autopilot and in the mad rush to satisfy society’s dumb norms, we do not help either. We complicate our life even further. For instance, We may not need more. We may not need to wait for weekends or...

When the resources are limited, and we have no clue how much more is left, we must be concerned about spending them. One such resource is our time. So, I must first develop clarity on my end goals to effectively utilise this valuable resource. Then, I must satisfy...

“When I earn over $150K, I will be happy.” Vs “I am happy and will earn over $150K.” “I want a leadership position so that I can lead people.” Vs “I lead people and will be in a leadership position.” “I will retire early and live my life to the fullest.” Vs “I am...

Strategic initiatives are important but often not urgent, making it easy to deprioritise them as organisations focus on immediate tasks that require attention. As a result, many organisations remain entrenched in day-to-day operations, continuing with outdated, manual...

Imagine a surgeon who is about to go into operation theatre, and he is agitated. His tense face makes others in the room concerned and too tense to operate effectively. We may all agree that the operation's success is at serious risk. Now, think of the corporate...

It is often perceived as safer to adopt a more conservative approach—think twice, proceed with caution, and ensure a measured response. Let others make decisions when needed, providing a shield to cover and protect yourself. This way, you gather enough evidence to...

Firefighting in business is becoming the norm. Managers and executives are constantly fighting fires lit by shortfalls in services, employee issues, the sales pipeline, systems and change management issues, and much more. It is a vicious circle as well. When capable...

My weaknesses hide behind my inability to take and stick with my decisions. My sufferings stem from being on autopilot and not being present now. My immaturity shouts out when I pretend to know it all. My foolishness manifests when I think I am controlling the stage...

Decisions require mental resources, and because our brains naturally seek to conserve cognitive energy, we often stick with past choices, even when we have the option to change. This tendency is evident when selecting service providers, like banks, insurance...

It often requires excessive effort to maintain appearances and seem competent. Most of us would rather win an argument than foster a meaningful interaction. I believe that by focusing on contributing to others' lives and prioritising their needs over my own...

I can truly give back to the community only when I genuinely own something. To truly own it, I must have complete control. But the highest form of service may come when I lose myself and recognise a single master within everyone I serve.

Many things we are obsessing or stressing about would not matter in a few months. Most people around us are busy with their lives and pay little attention to our failures and shortcomings. Even if they know, they will forget in a few months. Most of the decisions we...

Consider these questions: Should I invest in real estate? Should I quit my job and start my own business? Should I invest in automation within the business? All significant decisions are difficult. There are too many moving parts and many things we don’t know....

For goal setting, we are conditioned for ‘more’. For example, we may have targets in gyms to lift more weight. However, learning different sets of exercises may be more beneficial. Alternatively, we may gain better results by sticking to the exact weights, increasing...

Today's results stem from our past input and decisions. If the outcomes are positive, it doesn't necessarily mean we're on the right path. It doesn't mean we should immediately change course if they're negative. Instead, results provide a valuable opportunity to...

Many of us are sacrificing today to have a secure and prosperous tomorrow. I am referring to the sacrifices of not living fully today but hoping to live tomorrow. These sacrifices are to push on with time, play safe, and not take risks. This could be our plan. But...

I may claim my good deeds are for others, but often, they are for me. They are likely to keep me happy and fulfilled, boost my ego and pride, and make me a little happier after thinking about them. While they may appear noble and service-oriented, they can often be...

As leaders, we cannot directly change our people, but we can change the working environment that may influence our people. When it comes to changing environment, the change must start from within. So, we practice what we are preaching to others. If we want others to...

It is easier to be vague and add multiple disclaimers in one sentence. With some practice, anyone can learn to be slippery so others cannot get us on their hook. Committing to the outcome with definitive time and deliverables isn't easy. But this commitment and...

I am blessed with the trait of getting uncomfortable in a comfortable position. When things become repetitive and simple, my mind starts to ponder new challenges. This keeps me on my toes and helps me become a better version of myself. It's not always a good story...

Our level of arrogance is directly proportional to our level of success and inversely proportional to our level of maturity. This could explain why: Companies that were once on top are seen nowhere now. Top performers found themselves out of touch and out of the...

On the path to achieving goals, I work hard and try to do the best I can. However, I've learned that it's crucial to maintain a balance. When I stretch myself too thin, other parts of life, such as health and family, start to suffer. It's a constant juggling act, but...

The history of craftsmanship is a testament to the inevitability of technological advancement. Those who failed to adapt and effectively use tools in their trade were eventually left behind. Tools are designed to make craftsmen more efficient, effective, and creative....

I may dismiss high achievers by thinking, 'What sets them apart? After all, we all breathe the same air.' But their distinction lies in what they do with the opportunities they have. Their actions, habits, values, and even luck have shaped their success. They are...

It is convenient to open the door closest to where I am now. After all, it makes sense. Why search for new paths when I can try to open the door in front of me to move on? However, when the door does not open, I have a perfect opportunity to grow. This growth can...

Every day, I get into hand-to-hand combat with these champion time busters. Procrastination Boredom Allowing work to expand to the timeline without adding additional value Postponing major decisions Active distraction by (mobile, emails, shopping sites) Doing...

When decisions and judgments are complex, over-analysing does not improve our situation. We are likely to be better off first understanding our current state of affairs: What is at stake? For example, software projects, company acquisitions. What can we lose? For...

Ideas constantly fall out of conversations. Some are ordinary, others can be good, and a few are great when we get lucky. As leaders, we are not listeners, but miners. We keep mining until we get some good or great ones out. We mine by controlling the discussion...

As leaders, rational decisions are expected of us. However, our choices are biased by our moods, environment, recent wins/losses, personal preferences, love/hate, most recent decisions, time availability, and countless others. Hence, let us not assume that we are...

If I am not here forever and leave everything behind, then there is nothing I can achieve. After all, I may only attain something if I can keep it with me forever. I would instead learn to be more present and utilise life fuel efficiently because that is perhaps all I...

Saving money is good, but often it is silly to save on: Investing in cheap software Finding stingy workarounds to optimise software licenses Holding payment of vendors and pushing ways for additional discounts Finding the cheapest possible resources and consultants...

One thing that binds us together is our ability to demonstrate that we care. We care about the well-being of members of our team. We care about their personal goals and aspirations. We understand their circumstances, limitations, and constraints. We know where they...

Enterprise software is an expensive endeavour. There is a considerable cost involved in licensing and implementation. Sometimes, it may be overwhelming. We may question whether investing in and committing to implementing enterprise software is wise. To reach any...

Make a selection from the following: Learning to play: Guitar Vs Clarinet To be: CEO vs. Small Business Owner Buying watch: Rolex Vs Grand Seiko Most likely, you will pick the first option. Why? Because they are more cool, raise our status, boost our egos, and make us...

My indecision in improving my business is a form of self-harm. While I may have excuses like being busy or thinking business improvement projects can wait, this lazy decision-making costs me. Our businesses need our love, care, and sacrifice. It’s not wise to keep...

Who I am and what I can be are fundamental questions that I must consider seriously. The first can enlighten me about myself, and the second can remind me of the opportunities I might miss if I don't explore the path of possibilities. This introspective journey is...

What I did yesterday looks ordinary today. The artifacts I delivered a few weeks ago need updates, and there's much room for improving our current processes, software, and tools. I am not one to settle for doing what we've always done. My commitment to constantly...

We service our vehicles per the set schedule to ensure they function correctly. We check many things before going out on a journey. Similarly, it is good to consult a doctor occasionally to ensure our wellbeing. But how about our organisation? An independent health...

Good listening is not enough. Before we listen, we need to have an environment where others can speak comfortably. They open up and talk from their hearts. They express themselves with full faith and trust in us. Getting to the positions where others open up to us...

Yes, I can see that others are better players. They have been more successful and privileged. They are blessed with natural strengths and skills to succeed, and I accept and respect that. I have been sad about this for some time, but I have learned to admit and adopt...

One of the most common requests I hear is the desire to have everything in one system. While this aspiration is understandable, the ideal approach is to create a seamless working environment that integrates existing business systems. This practical solution allows...

We often test the patience of our most patient teammates. Hardworking employees often get more work. We often get lazy while reviewing the work of perfectionists. The above examples have one thing in common: we are lazy by default. It's important to recognise when our...

Exhaustion is a real thing. It not only affects our thinking, patience, and decision-making, but if it lasts too long, it can raise our stress levels and cause burnout. This should be a concern for all leaders. Technology projects are a battle against the status quo....

If you have an important meeting at a new place, you research the route and prepare for the journey. Similarly, when it comes to selecting and implementing enterprise software (ERP/CRM), learning from others who have been there before can be invaluable. However, we...

In business, the BAU (Business-As-Usual) work keeps the lights on, while the project work is the key to making the lights shine brighter and pocket more. It's crucial to strike a balance between these two. Businesses often struggle to keep the lights on because all...

Before making hiring decisions, we follow a set process to ensure that the new employee is capable and fit for the job. Similarly, with defined criteria for business projects, we can significantly increase our chances of success. However, we do not appear to have any...

Our decisions, seemingly insignificant in the present, have the potential to shape the lives of those who will come after us. We are not just making decisions for ourselves, but for the generations that will inherit our choices. Inheritance of material and wealth is...

It's easy for me to make choices based on my past experiences. I've developed a preference for certain dishes and coffee, and I've found comfort in the same restaurants over the years. I stick to clothes of known brands, sizes, and styles, all based on my past...

Effective communication is akin to crossing a bridge to the other side and connecting deeply. Often, we remain on our own imaginary islands, leading to communication gaps. To mitigate this issue, we must cross the bridge and understand others before seeking to be...

When I think of others as superior, then my energy is likely to be spent on impressing the other person. When I think of another person as inferior, my energy is likely to be wasted on boosting my pride and ego. When I am at a stage where I see all as one, my energy...

I have no control over my birth or death. Much of what I do aligns with what others in my age group do, suggesting that the aging process influences the broad direction of my evolution. My environment, genetics, and experiences shape my thinking. Overall, I may have...

Working with great leaders is like riding a powerful tide; their presence propels us forward seamlessly. They alleviate our burdens, like painkillers, helping us forget our struggles and reach our full potential. These leaders leave an indelible impact on us,...

Our common perception of an organisation or team is a top-down hierarchical structure. The executive and management sit at the top and actual workers are at the bottom of the hierarchy. While it is a typical representation, it is often too wrong. Maybe we need to...

After working hard to attain reasonable positions of power, status, wealth, and luxury, I realised that they are reasonable goals to aim for. These goals are good because, when I attain them, I realise that they are not the end. They are rather a manifestation of my...

My Karate Sensei teaches us to always be in a stance. As we move around, kick, and punch, we transition from one stance to another. A stance represents power and stability. When we maintain our stance, we have a better chance to protect ourselves, attack, and win....

Business capability development requires our capacity. In other words, we must have the capacity to work on the business to improve its capability. However, if the entire staff is fully utilised in operations, we will continue to stay where we are today. So, if we...

While playing it safe, taking little risks, saving cents but losing dollars, sweating the small stuff, keeping things secret, and trying to get more from others than we give, we are likely to make little progress. Big leaps of progress require a clear goal and the...

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