13 Tips To Help Businesses Decide Whether To "Stay The Course" Or Embrace The Latest Tech

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The Forbes Coaches Council has a new article on how approach and make a better decision about adopting the latest technologies. The article features 13 top tips from 13 Forbes council members, including our own CEO, Kristy McCann.

These days, it seems new technologies are developed and released almost daily.  Leaders of young businesses may think they need to implement the latest tech immediately to keep up or, if they’re in tech development themselves, rush a new product to market. But that’s not always the smartest move—with technology, as with anything else, “new” doesn’t always equal “better,” and “first” doesn’t always equal “winner.”

Deciding when to adopt or implement new technology is tricky, with many considerations to weigh before making a decision. So how can business leaders know when to “stay the course” with the technology they’re already using or providing versus pursuing innovation? We asked 13 members of Forbes Coaches Council to give their best advice on making the right decision for your company.

The 13 tips to help you swipe left or right with the latest technology:

  1. Let Your Market Drive Your Infrastructure

  2. Determine What Value It Will Add

  3. Know Your Strategy

  4. Focus On What Best Serves Your Customers

  5. Balance Short-Term And Long-Term Profitability

  6. Assess The Impact

  7. Appoint A Board Of Directors

  8. Invest In Your Relationships

  9. Go Back To The Basics

  10. Navigate With A Business Model Canvas

  11. Don’t Quit The Marathon At Mile 25

  12. Don’t Get Distracted

  13. Ignore Comparisons

#2. In decision-making, look through the lens of what value it will add, as there are tons of shiny new toys and it is easy to get overwhelmed by them. With any decision, there needs to be a clear value-add and value-impact to the team. Once you make a decision, the biggest hurdle is how to implement change with it. This is what matters the most. Good change management will guarantee the value of your decision.
— Kristy McCann

Go deeper on the 13 Tips To Help Businesses Decide Whether To "Stay The Course" Or Embrace The Latest Tech and read the whole article on Forbes.

Paul Haury