By Levi King
Technology can be a lifeline or death sentence for small business owners.
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If you run a small business, you know that the only constant is change. I have built everything from sign repair to fintech, but I have seen firsthand how technology can become a lifeline or death sentence for small business owners.
Today, artificial intelligence is the latest in a long breakthrough, and comes there on the phone and the internet. If you want to ignore it, tell me: it's a mistake you can't afford to make.
Phone: First Business Game Changer
Imagine running a business in the early 1900s. Your phone arrives and you can suddenly talk to customers and suppliers in real time. Businesses that employ phones can respond faster, respond to close transactions more quickly, and build relationships that were not possible through mail or messenger.
Someone who resisted? They were left and unable to keep up with the commercial pace.
Internet: Great Leveler
Fast forward to the 1990s. The Internet was not just a new tool, it was a revolution. Small and medium-sized businesses can reach customers around the world, automate processes, and compete with giants. But not everyone was on board.
I remember talking to a business owner who thought the website was trending. Many of them are no longer around. The Internet has not only changed the way we do business. Who has started to continue in business?
AI: Next Frontier
Now we are at another intersection. AI is not science fiction. It's here and it's already changing the way we work. From customer service automation to cash flow forecasting, AI provides small and medium-sized businesses with the kind of electricity they have been reserved for Fortune 500 companies.
If you ignore it, you risk becoming the next warning story, like a company that rejected the phone or the internet.
Why shouldn't we be afraid of AI?
I get it – new technology can be intimidating. But fear is often merely a lack of understanding. Here's why we shouldn't be afraid of AI:
- AI is a tool, not a threat. Just like the phone and the internet, AI is here to help you do more with less. It helps you automate repetitive tasks, improve customer experiences, and make smarter decisions.
- AI levels the arena. AI is not just about large companies anymore. Affordable, user-friendly tools are available for businesses of all sizes. in fact, 75% of small and medium-sized businesses Either they either experiment with some form of AI or are using it entirely, and those who do that are likely to see profit growth.
- You're already using it. If you're using email filters, chatbots, or voice assistants on your smartphone, you're already benefiting from AI. The leap isn't as big as you think.
What happens if you ignore AI?
History is full of businesses that have failed because they ignored technological changes. Blockbuster rejected streaming, Kodak stuck to filming, countless small businesses missed the internet boom. The lesson is clear. Technology is not waiting for anyone. If you don't adapt, your competitors will leave you behind.
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Easy steps to master AI
You don't need a PhD in Computer Science to get started with AI. Here's how to get started:
1. Audit the process
Look at your daily work. Where do you spend the most time? What tasks are prone to repetitive or error-prone? These are key candidates for AI automation.
2. Start small
Choose one area, including customer service, accounting, marketing, and more, and try out tools powered by AI. For example, use chatbots to handle common customer questions, or handle AI-driven accounting apps to manage your invoices.
3. Invest in training
Not only do you buy the software, but make sure you and your team know how to use it. Many AI tools come with tutorials and support. Take advantage of them. The more comfortable you are, the more value you will gain.
4. Focus on the results
That's why don't employ AI. Setting clear goals: Want to save time? Do you want to reduce errors? Will it improve customer satisfaction? Measure the results and adjust them as needed.
5. Curious
Technology continues to evolve. Make it a habit to provide information. Read the article, take part in webinars and talk to other business owners about what's working for them.
I accept change
All the key technological leaps from the phone to the internet have produced winners and losers. The winner is the one who adapts, learns and uses new tools. The same goes for AI. Don't let fear or uncertainty get in the way. Start small, pique your curiosity and remember. The riskier thing than accepting change is to ignore it.
If you're willing to learn, experiment, and continue moving forward, AI can be a tool to take your business to the next level. The future belongs to people ready to build it.
Levi King is CEO, co-founder and chairman nav.com. A lifelong entrepreneur and small business advocate, Levi has dedicated more than a decade of professional career to increase the transparency of small business business credits. After starting and selling several successful companies, he founded NAV to help small business owners provide powerful tools to build trust health and realize their fundraising dreams.
