5 Common Business Myths - True or False?
Running a company is no easy feat – it’s no wonder that many business owners, regardless of their company size, are constantly on the lookout for tips to help their business grow. However, misinformation and fear can prevent business leaders from making cost-effective or smart decisions, especially when it comes to decisions on hardware and technology. Business owner or not, join us as we find out if there’s any truth in these 5 common myths!
Myth 1: Always invest in cheap technology to cut costs
FALSE: The success of your business will largely depend on tough decisions that have to be made, especially when it comes to hardware expenditure. While cheap technology will help mitigate costs in the short-run, the investment placed in high-quality technology will not only result in long-term savings, but also makes your processes much more efficient, saving you precious time and effort.
Myth 2: Small businesses don't have the money to invest in high-quality technology
FALSE: A common misconception about high-quality technology is that they are expensive. In today’s competitive market space, you’ll be glad to know that great quality hardware from reputable manufacturers are easily accessible at affordable price points! Take Canon’s PIXMA Ink Efficient G series printers as a prime example – costing below S$500, these printers come equipped with high-powered productivity features to cater to a range of different needs, such as a refillable ink tank, automatic two-sided printing, a massive paper feeding capacity, and mobile printing capabilities. Coupled with a brand new ink bottle design for fast ink filling, these compact printers allow you to enjoy time-efficient printing processes for your high volume print needs.
Myth 3: Digitising business processes maximises efficiency
TRUE: According to McKinsey, organisations across every industry are digitising their services. Smaller companies should also start paying attention to the trend towards digitisation and start looking at digitising their processes to unlock greater potential in today’s increasingly digital society.
For instance, consider digitising your documents with Therefore™ ONLINE. Designed for businesses of all sizes, this document management solution is a secure and economical way for businesses to manage their information on the cloud. Automate your processes with digital workflows that allow you and your employees to access information anywhere, anytime. With this, you can improve document visibility and traceability, minimising bottlenecks and making sure that your customer requests are all accounted for.
Myth 4: Small printers have limited features
FALSE: When it comes to printers, searching for a reliable, high-performance all-in-one device can be a rigorous endeavour. Here’s where Canon comes in – our range of small office printers are catered with your convenience in mind. For example, our newest imageCLASS laser printers come fitted with a large 5-inch colour touchscreen LCD, allowing you to navigate easily across the intuitive interface. To support even greater convenience, you can preview your PDF files from the USB memory media before sending the documents for print. Discover a seamless printing experience with these handy functions and ramp up productivity effortlessly!
Myth 5: Outsourcing is not effective for small businesses
FALSE: Many entrepreneurs think that only large corporations outsource their processes. But outsourcing is a useful strategy that can make a powerful impact on growth and productivity for small companies alike. More often than not, outsourcing non-core competencies will reduce overhead costs, especially when working with a reliable and trusted partner. As the specialist consultancy and outsourcing arm of Canon, Canon Business Services (CBS) seeks to drive innovation in the way organisations manage their data and business processes, with the goal to make it a more efficient workplace. Transform your business with the CBS team’s help and watch your company grow!
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