Enjoying complete independence can be one of the best parts of running a small business. You decide what you sell, how you're going to market it and the kind of customer experience you want to offer. That doesn't mean you have to handle everything on your own, though. In fact, choosing the right small business partner is essential to success.
This kind of partner doesn't take an ownership stake in your company. It's a partnership between your company and a like-minded entity with the small business technology and expertise to support you. A trusted advisor who works with firms similar to yours, understands your challenges and is ready to help address them.
The benefits of a great small business growth partner by your side can deepen with time. You can be the first to hear about small business solutions that could meet emerging needs. You'll know who to talk to when business conditions change. You can potentially reduce financial stress, keep pace with rapidly changing technologies like artificial intelligence (AI) and embrace the future of work. Most importantly, a partner that can provide purpose-built small business technology can allow you to focus on the high-value work you want to do. That means you can automate the rest and operate without worrying about performance issues or downtime. Look for a partner that does all this, while offering cybersecurity services that protect your company from data breaches.
Here are some of the common areas where a best-in-class small business growth partner can make all the difference in helping your company to thrive.
Every dollar you invest with a small business partner should lead directly to value, particularly regarding your ability to run your company effectively. They should offer products and services that speak to some of the most common small business challenges.
High inflation has put pressure on many small businesses to raise prices. Fortunately, there are multiple ways you can reduce expenses while still benefiting from effective small business technology:
Evaluate all the tools that could help decrease spending. Do you pay an ad agency fees every year to handle all your marketing? Plenty of small business solutions allow you to do everything from building your website to sending out email blasts to prospective customers. If maintaining a fleet of desktop PCs gets too expensive, discover how to manage your entire business from a smartphone. Cut back on flights, hotels and other travel expenses with video conferencing. While all these areas require IT investment, they are investments that can pay off. According to the Verizon 2024 State of Small Business Survey, 66% of firms that upgraded their tech stack saved money. The better your partner understands where your cash is going today, the more likely they are to be able to recommend small business solutions that cost less in the long run.
Protect against unexpected costs. Few small businesses set a budget that accounts for equipment that gets lost, stolen or damaged. Your mobile devices, for instance, represent some of your most critical assets. Ask your partner about device protection plans, extended warranties and other services to deal with expensive "what if" scenarios.
Look for a provider that offers savings when switching to a business plan while allowing you to enjoy unlimited data.
A small business network could help boost productivity because it could allow everyone to share files simultaneously and avoid long wait times for downloading and uploading files. Talk to your small business partner about your current and future needs to determine the capital and workforce investment costs to build the right network for you.
This is just one example of foundational technologies that get small businesses off to the best possible start. Others include a cloud-based phone system and business internet. If you're just launching your company, lean on your partner to get you up to speed on the basics of small business technology. For example, they should be able to provide guidance on choosing between fiber optic service, fixed wireless access (FWA), digital subscriber line (DSL) and other options.
AI is constantly evolving to assist with everything from tracking orders to augmenting customer service through chatbots. The same technology can also help accelerate processes like generating lead lists and summarizing large quantities of information. Though many small businesses have concerns and uncertainty about using AI, your partner can help dispel AI myths and ensure you use it strategically.
There are high costs associated with consulting firms, but they're not the only option for accessing actionable insights to improve your operations. For example Verizon's Small Business Readiness hub offers free customizable learning resources, networking opportunities and grants.
Employee expectations are rising, and small businesses that want access to the best talent must keep up. Partnering with a trusted advisor is key to finding the tools and techniques to make it happen.
Employees do their best work when they are equipped to be productive, creative and customer-centric. 5G can unleash a better employee experience by providing ultra-fast connections and the ability to leverage innovations in augmented reality, wearables and the Internet of Things (IoT). A good small business partner can help identify 5G small business opportunities in sectors ranging from retail and professional services to construction, transportation and more.
Work doesn't just get done in the office anymore. In fact, small businesses may be increasingly operating as decentralized teams. A hybrid work model should never come at the expense of miscommunication or duplication of effort. Partner with an organization that can keep everyone on the same page by deploying the best mobile tools to enable small business collaboration. These include cloud-based voice over internet protocol (VoIP) phone systems and unified communications-as-a-service (UCaaS) platforms.
Good partners offer more than products and services; they can also be a wealth of expertise. Larger partners may have well-established HR processes and best practices for attracting and keeping talent, which they can pass on to small business customers.
For example, asking about employment caps, working speed and listening to negativity can become part of a small business hiring guide. This kind of asset can help you avoid hiring mistakes and get the employer-employee relationship off to a great start. Combining tools like instant messaging and apps can also go a long way in keeping employees loyal when you combine them with effective remote work policies.
While the definition of "small business" may vary, the best partners can work with organizations of any size to further their success. Take Duo Studio, a two-person small business operating out of a van, which partnered with Verizon to get the network connectivity and hardware they need.
Building trust with your team and your customers begins with safeguarding the data that powers your small business. Make sure your small business solution partner can address all these cybersecurity questions.
Hackers don't just come after large organizations. According to the Verizon 2024 Data Breach Investigations Report, there was a 180% increase in vulnerability exploits, and 32% of breaches in 2023 involved some kind of extortion, including ransomware. Third parties aren't the only issue, though. The same report found that 68% of incidents involved a non-malicious human element, like an employee who falls for a phishing scheme. Good partners are often well-informed on trends like this and can help keep small businesses informed and proactive as they develop a better IT security strategy.
As the world has shifted to digital channels, many businesses may now run 24 hours a day in some form. Cybercriminals have followed suit and may attempt data breaches whenever they see an opportunity. This may be especially true during busy periods like the holiday shopping season, when small businesses may not be as vigilant. Avoid being caught off-guard by maintaining small business cybersecurity best practices like monitoring for suspicious emails, updating software, restricting unnecessary access and backing up data regularly.
Assuming data protection is solely the IT team's responsibility is just one of many small business security misconceptions. The reality is that everyone plays an important role, especially because all employees are handling data in ways that could expose the company to internal risks or external attackers.
Rather than handing out a list of data protection tips, strive to develop a security culture where the entire team is aligned on the values, beliefs and attitudes toward handling data and keeping it secure. A small business growth partner can offer insight into how other customers have done this by raising awareness about new threats and attack techniques and providing consistent messaging.
Strong policies also contribute to a security-first culture, such as limiting access to critical systems to those who truly need it and using zero-trust security models. Establish the right protocols for email, password management and data handling so everyone knows what to do if and when an incident occurs.
Cybercriminals are becoming increasingly sophisticated, making it almost impossible for the average small business to keep up with data protection best practices themselves. A partner focused on combating cyber threats for a variety of organizations and can help ensure small business solutions are paired with the right level of protection.
Beyond that, some of the benefits of stronger small business cybersecurity include:
The first step in securing a small business is understanding where your smartphones, laptops, tablets and other tools are at all times. Mobile device management (MDM) platforms let you control all device diagnostics remotely, manage permissions and assign policies that can limit or mitigate the risk of cyber threats.
Once MDM is in place, it may be wise to invest in small business technology designed to prevent unauthorized access to your network and applications. Multi-factor authentication (MFA), intrusion detection systems, endpoint security tools and Wi-Fi protection platforms are among your best bets here. Your small business partner can work with you to have alerts notify the right people when a data breach attempt is made.
Also, consider the role unified communications can play in informing team members about an incident, potentially limiting the scope of the impact. These technologies should all become aligned with an IT security incident response plan developed with your partner.
Learn more about other small business solutions, benefits and resources that can help you safeguard your small business and thrive in the competitive industry landscape.
The author of this content is a paid contributor for Verizon.
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