The smart phone has innovated the way that individuals communicate with one another. Whether it’s Snapchat, Instagram, or Facetime, the smart phone should be seen as a revolutionary tool that has truly changed Western society. It should be no surprise then, that smart phones have revolutionized entrepreneurs’ approach to small businesses as well.
The Associated Press have recently highlighted the ways that young entrepreneurs are utilizing smart phones to advance their businesses. The articles notes that, “Smart phones have become vital for on-the-go entrepreneurs. Apps aimed at small business owners allow them to pay bills, update websites, market their companies, reach out to customers and keep in touch with employees from anywhere.”
And while one of the common complaints about young millennials is that they spend too much time on their cell phones, these criticisms fail to consider just how advantageous and connected smart phones allow young entrepreneurs to be to their businesses.
Noah Chaimberg for example, is a young entrepreneur described in AP News that utilizes smart phones to multi-task. “He [Chaimberg] started Heatonist.com, a website that sells specialty hot sauces, in November. He still works a full-time marketing job in New York and relies on his iPhone to keep him connected to his business,” AP News reports. More than allowing him to manage his business while he’s still working, he uses various apps to his advantage. Chaimberg utilizes an app from Bigcommerce to help keep track of his orders, and also utilize a small piece of hardware for his phone to help process credit card payments.
It is the case too, that young entrepreneurs can utilize smartphones to run and maintain their business in a different state. The AP News article mentions Kimberly Davison, a woman that co-owns a business in Nashville but runs it from Los Angeles. The article reports that Davison, “gives out a Google Voice phone number to customers so that they can text her if they want to order a T-shirt or a vintage pair of cowboy boots…[and uses] Google’s calendar to schedule employee work hours and special events, like if a country artist plans to stop by for a fitting. ”
Smart phones then, are one clear innovation that young entrepreneurs have been utilizing to manage their businesses. These innovations however, do not by themselves indicate that money is unnecessary. On the contrary, small businesses need cash flow to help promote and expand their businesses.
Overnite Capital focuses on helping young entrepreneurs in a manner where the credit score is not the sole indicator of a businesses’ worthiness for funding. For more information, please call us today or message us via the Contact Us tab.