Medium and small companies (SMBs) possess a status to be capable and dedicated, two sentiments my team and that i have certainly discovered to be true. But we'd some questions regarding a couple of from the other descriptors we’ve heard - and due to data in the latest Medium and small Business Trends Report by Salesforce Research, we are able to formally obvious up a number of individuals rumors. Listed here are three common misconceptions about small companies, combined with the data-backed truth.
MYTH: Small companies not have the plan for best-in-class technology
REALITY: Small companies are prepared to spend the cash when the software delivers value. Sure, small companies and startups need to keep an bald eagle eye on their own budgets, they also realize that a good investment in quality technology delivers significant time savings.
Studies have shown that growing SMBs are specifically centered on plans for business-scaling technology like CRM and financial software - which cost is really less vital that you them than finding software that’s simple to use and from the reliable vendor.
MYTH: The primary reason small company proprietors began a business is to earn money
REALITY: While money could be a factor, obviously, data reveal that most small company founders (55%) really began their companies simply because they thought about being their very own boss and/and have a far more flexible time-table. Like a group, founders and entrepreneurs are usually idealists with motivations which go beyond making money - departing money because the icing, and not the cake.
MYTH: Small companies aren’t ready for advanced technology
REALITY: Not the case! Increasingly more small companies are realizing the advantages of advanced technology like artificial intelligence (AI) - and lots of savvy small companies happen to be using such things as chatbots, automation, and predictive forecasting for connecting with customers and also be.
While data shows only 8% of small companies presently use AI, an astonishing 46% of small company leaders believe their companies are prepared for AI - and 32% curently have intends to implement. Advanced technology?
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