Opening a new business is a very risky ordeal. Many of them end up being unsuccessful, and people's dreams and lives can easily be destroyed as a result. Often, business owners make decisions with their hearts, rather than their heads. When I see a new store open in my area, I can usually predict correctly as to which will close and which will prosper. It is sad that the people opening the business are not able to take a step-back and see the same thing.
Google has taken an interest in new businesses and how they utilise technology to be successful. This week, the search giant released a report and infographic aimed at helping future upstarts to learn from existing successes.
"Twenty five years ago, Yong Kim, the father of a Googler, decided to open a dry cleaning business in the New Jersey suburbs. His first move as a brand new business owner? Give it a name starting with the letter A, so it would show up first in the dry cleaners section of the local Yellow Pages. Those ubiquitous Yellow Pages may still be around, but starting a business today is a different ballgame. With the arrival and explosion of the Internet, new companies rely less on the resources of yesterday and more on tools built in the cloud to help turn their ideas into living, breathing, successful businesses", said Google Enterprise's director of global SMB sales, Rich Rao.
"To celebrate National Small Business Week, we’re releasing a Young Business Success report that shows how new companies... use cloud productivity technology to help them succeed," he continued. "The research shows how resources like professional email services, online file sharing, collaboration tools and video meetings are an integral part of helping businesses at each step along the way."
Google touts the following tips for budding new entrepreneurs:
- Starting a business - after getting a professional email address, 60 per cent of young business owners saw an increase in customer engagement after they got a professional email address, and 42 per cent saw an increase in sales
- Building a business - 81 per cent of young business owners said that online file sharing is critical to their businesses; 73 per cent said that accessing email and documents from a mobile device helps them to close more sales
- Succeeding in business - 81 per cent of young businesses said they expect their companies to grow in the next year, and of that group, 69 per cent said part of the growth is due to their use of cloud productivity technology
Read more: The secrets behind Hailo's global success
While reading this report will not guarantee a successful business, it can't hurt either. It is a good read with strong emphasis on technology and the cloud.
Image credit: Shutterstock (Rob Marmion)