Scale in business “Tech Tech Tech!”

When people talk about scale and its benefits in their business, you can think of scaling many things. It can be assets, deposits, number of clients, the area the business covers, number of branches, and number of products. But we should put a higher value on the high technology and list of technologies.

This is not about the scalability of your system, high availability, or resiliency, but how many high techs your company can scale.

Let’s talk about what scale is in tech and how the business achieves and uses them.

High & modern technologies your business has.

You now should be familiar with data-driven decision-making, big data analysis, cloud-native, AI & ML, and blockchain. Those are not just springing out from nowhere one day nor a new one anymore. That is now the industries’ focus to make more profits and even already become one of the major revenue streams of the company in many industries.

Therefore, how many technologies your company can grab in their business can change the mainstream to survive in the next several decades.

How do you utilize the technologies for your business expansion and growth?

The business is not standing at a complete standstill, rather it’s like water changing all the time. Today your business is serving the end-user (B2C) but it may be supporting B2B business from tomorrow. Then you will need to see how many capabilities in tech are ready for your new business initiatives. If you have many cards in your pocket, then it will enable you to think more flexibly.

Of course, adopting the technology is not easy, we will need an understanding of the cost, operational model, vendor selection, know-how, people who are experienced, etc. If you just introduce all-new looking-good tech, you will be suffering from cost creep, non-expertise in your company, and too large a spectrum of technology your company needs to handle with a limited number of engineers.

Partnering is also a good option, you can make agreements between companies to synergy each other’s strengths by having larger tech scales without increasing overhead in your company.

When we talk about the common types of business scale, those are unit cost, value, service, brand, operation, innovation, and organizational culture, but now is the time to put ‘technology’ in to be scaled.