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Three ways to build your own stimulus package

Written by: Vu Ngo

Article Overview: Since his first menswear store opened its doors in 1954, legendary entrepreneur Harry Rosen has seen his share of difficult economic times. These experiences, said Rosen, speaking at a small business roundtable recently hosted by Microsoft Canada, taught him a valuable lesson: when the economy sours, it’s best to “focus on what’s important for your business and make good, solid investments that will not only keep you going through the tough times, but carry you into more prosperous times.”

Three ways to build your own stimulus package

Since his first menswear store opened its doors in 1954, legendary entrepreneur Harry Rosen has seen his share of difficult economic times.

These experiences, said Rosen, speaking at a small business roundtable recently hosted by Microsoft Canada, taught him a valuable lesson: when the economy sours, it’s best to “focus on what’s important for your business and make good, solid investments that will not only keep you going through the tough times, but carry you into more prosperous times.”

Now, more than ever, Mr. Rosen’s message is compelling. Amid the gloomy headlines, it’s only
natural to want to hunker down and wait things out. But letting this reaction overshadow all other strategic decision making is a risky proposition for any business. Everyone is looking to just weather the storm and come out in one piece, but those who are thinking long term are looking to make smart investments now and emerge as a stronger, more dynamic company when the clouds eventually part.

It’s all about taking control and building your own stimulus package. In light of current market conditions, there’s never been a better time to take action.

Technology is a great place to start. Engaging with customers, whether via the Web or by phone, is something that is highly dependent on technology. Even small improvements to the customer experience in this ultra-competitive environment can have a big impact on retention.

The great thing about investing in technology is that businesses can expect to see a rapid return on these investments. This was recently underscored in January’s federal budget, which included a temporary, 100 per cent, one-year, write-off of the cost of new computers and software. As well, today’s business solutions are designed with small business needs in mind, and can help immediately cut communication and energy costs, or help provide the valuable insight needed to seize new business opportunities – every opportunity being increasingly important given the current economic climate.

Not every company has an aggressive growth plan, but almost all small businesses can benefit from the creative use of technology. The key is knowing what to look for. What follows are a few things to keep in mind when it comes time to invest.

Start at the desktop. The PC is where most people work – so be sure to make the experience easy and productive for everyone. Providing staff with up-to-date mobility, collaboration and productivity software on state-of-the art desktops will help them work more efficiently and ensure they project a professional image to clients.

It’s also a great retention strategy. Young people who live and work on the Web or newly unemployed business veterans accustomed to cutting-edge tools often have technology high on their list when evaluating potential employers.

Take advantage of favourable pricing. Microsoft Canada has a number of incentives in place (microsoftincentives.ca) designed to help businesses minimize upfront costs. One example is the Windows Vista Small Business Assurance program (http://www.microsoft.com/canada/windows/assurance/), which helps make desktop upgrades easier by providing free support, compatibility assistance, and one-on-one technology coaching.

Look for a true partner. Small businesses have no shortage of software to choose from, so be sure to look for a technology provider that has a deep understanding of small business needs. The right technology partner will help ensure a smooth implementation and an easy transition for staff. Microsoft Small Business Specialists for example, can help identify technology solutions according to your unique business requirements and support those solutions to ensure you get the best return on your investment.

Anywhere, anytime capability. Look for tools that provide the option to use traditional software on desktops or mobile devices, or opt for “hosted” solutions – software available over the Web is often less expensive and easier to manage.

Few know better than Harry Rosen how some of the best opportunities can arrive without warning. Being ready to take advantage of them is one reason why today Mr. Rosen operates 16 retail outlets across the country, and owns 40 per cent of the upscale menswear market. Taking the right steps now to build a foundation for growth can help small and growing organizations prepare to take full advantage when the economy rebounds and their moment arrives.

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Article Tags: action technology, better time, business roundtable, competitive environment, current market, customer experience, dynamic company, economic times, energy costs, federal budget, harry rosen, menswear store, microsoft canada, new business opportunities, new computers, prosperous times, rapid return, risky proposition, smart investments, stimulus package



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