It is a pretty well established fact that technology is a key factor in today’s business world. However, for small businesses which tend to be closely knit, there are often differing opinions between the younger and older generations regarding how technology can be beneficial. This is not a new phenomenon; technology has always been something that defined the gaps between the generations.

For younger people who grow up entrenched in technology, there is often the desire to try out the latest technology but sometimes some wonder if that desire is centered on the cool rather than how it will help the business. The older generation usually wants to know how it will yield a return on investment. Is it possible to find a happy medium between cool gadgets and using technology to support the success of your business, bridging the generation gaps?  

The truth is that technology could be the key to building this bridge; the real challenge is proving its worth. Several business owners who participated in a recent Microsoft Survey acknowledged that technology is important to being able to stay ahead of the curve.

Safford Story, owner of A&E Automotive in Goleta, CA, knows that not having the latest technology could cause his company to loose its competitive edge. "I'm not really that interested in technology, and I'm cautious to invest in upgrades. But I know that I really don't have much of a choice if I want to keep up with the competition." He further noted that his lead technicians cite technological advances in the automotive industry, saying that if they don’t stay current with the industry they could fall behind.

Technology is not just important for keeping up with industry standards. In professions where employees are always on call or traveling regularly, technology can mean the difference between being connected at all times and missing out on important messages or meeting the immediate needs of certain clients.

At the Freedom Writer Foundation everyone has a Blackberry. What was once simply a cool new toy has become a business essential for foundation employees, many of which travel extensively. Founder Erin Gruwell only got one recently but was convinced to upgrade by the young people working in her office. "Still," said Tanya Payne, Freedom Writer and office assistant, "I don't think I have ever seen Erin do anything other than hand her phone off when she receives a call." Payne also noted that since the most of the people working at the foundation are relatively young they have no problem keeping up with the technological age.

In part one of our small business/technology series, Hal Halladay noted that many small business owners surveyed recently do know that technology can:

• Increase the efficiency of our operations (79 percent agreed)
• Grow the business (74 percent agreed)
• Provide better customer service (74 percent agreed)
• Improve the quality of our image or product (70 percent agreed)
• Stay competitive with bigger businesses (68 percent agreed)
• Gain an advantage over our competition (68 percent agreed)

There was one other key factor that increased the appeal of technology beyond just being the next cool toy: it entices young people to work for the company. Since the youth are typically raised with technology regularly at their finger tips, they often want to work in a technology-based industry. According to a study by CollegeBoards.com, 5 of the 10 fastest growing occupations for college graduates are very technology heavy – networking systems, computer engineers, software engineers, computer systems administrators and forensic science technicians.

Adam Williams, owner of ROI Marketing Services, a consulting firm in Memphis, TN, said that he had actually gotten into disagreements with his son, who is almost always ready to jump on the latest technological band-wagon. “I'm not exactly thrilled about spending money for the latest and greatest technology if it isn't going to directly impact the bottom line."   

The return comes from investing in technology relevant to your particular industry, attracting young people to your company, and running your business more effectively. How can you argue with that?