The Biggest Pitfalls We See Companies Make With New Technology (And How You Can Avoid Them)

Is your company overzealous whenever new business technology comes out? If so… we get it! New tools and the prospect of developing a valuable new skill for your business is exciting. But how do we determine what’s really going to help push the bottom line? 

You see when it comes to corporations and new technology… There’s a problem. 

The biggest overarching issue is of course that companies end up wasting time and money on technology that either does not perform as intended, or is so complex to learn that it would require bringing on another specialist or an entirely new team. 

At Bright Tier Solutions, we’ve seen a lot of companies make easily avoidable mistakes with new technologies, and we’ve made some of our own! We’ve discovered that behind the major problem of “wasting money on technology that was over-hyped or over-sold”, there’s a couple foundational mindsets and pitfalls that can lead a company to dump their money in a pit, and those subtle invaders are what we’ll uncover in this article.

Pitfall Mindset #1: “Too soon, too fast.”

One of the major reasons people get burned by new tech is that they dive in too soon, too fast. Companies are rightfully looking for the next big investment, but can sometimes be so blinded by the hunger to scale that they jump at the first new development without thinking it through, or seeing results first.

To avoid this, simply practice patience. Not so much patience that an opportunity passes you by, but just enough to give you more confidence in the decision to invest in new tools/technologies before stroking the check.

Pitfall Mindset #2: “We’re the very first.”

Any time you or your company is the first to try something, tread carefully. It may seem exciting to be on the cutting edge of brand-new developments, but take a moment to look around you. Are other people refusing the same deal you’re about to take? If so… why are they doing that?

If you find yourself wanting to pursue new technologies, look for signs that you’re about to go down a worn path that others take with success. It doesn’t have to be the same exact path everyone takes, but it’s best not to venture blindly without a trail of data.

Pitfall Mindset #3: “Faith in promises, not in data.”

Brand-new technology is one of the easiest things to sell, because it’s like selling a mystery box. Rather than selling the results of the tool, you might often find companies selling the ‘potential’ of that tool or the ‘prospective’ results of that tool. When you find yourself having more faith in promises instead of data, you may want to do some more digging or wait for that data surface and further inform your decision.  

Pitfall Mindset #4: “The imbalance of desire.”

When it comes to investing in new technology -or almost any service for your business-  you want to find what is called the ‘balance of desire.’ The company you trust with your business should be just as eager to work with you as you are to try their product or service. 

If the desire is not there for the provider, the client runs the risk of receiving poor service or poor results without much care from the provider. Conversely, if the client lacks the desire or time to utilize the technology as intended and only wants a quick/cheap solution, then the business runs the risk of having to spend extra time and resources to satisfy the client. 

In short, a balance of desire protects both the interests of the client and the service provider alike. When dealing with larger companies this desire can sometimes be harder to identify as different people in the organization will have different personalities, so ask these questions to test when you’re feeling unsure:

• Does the service provider give me an easy way to reach the decision-maker of my account?
• Is communication clear and consistent, how often do miscommunications happen?
• Does the other party respond in a reasonable timeframe to messages and requests?
• Does the other party take the initiative to ask questions and get clarification?
• Does the service-provider want/value my review or testimonial, and how important is it to them that others know they did a good job for me?

By asking yourself these questions, you can look past the appealing notion of new tech, and look critically at the company providing it. When you base your decisions off of data and proven processes, you not only protect your scalability as a company, but also your reputation as a thoughtful decision-maker.

If you have questions about how well your new technology is working or you’re looking deeper for proven results that lead to long-term success, let’s have a conversation and see if Bright Tier Solutions is right for your company. Reach out today via phone or email.