Technology and Small Business

Anita poses an interesting question at Small Business Trends.

What is the most significant piece of technology to impact small businesses worldwide? The computer? The fax machine? Desktop software?

She votes for the mobile phone.
As I think about this question, it brings to mind what a Luddite I really am. New technology always intimidates me.
But, then I let my mind wander a bit and think of the question more in terms of technology as a way to do things rather than just the high-tech gadgets that we all seem to focus on today. Dictionary.com tells us that the word technology comes from Greek. Its root means the “systematic treatment of an art or craft.” So what do small business owners benefit most from that is a systematic application of their craft?
If we look at what differentiates successful entrepreneurs from the unsuccessful ones, the most important craft is opportunity recognition. This is a process that we have learned how to systematize and teach to entrepreneurs.
Entrepreneurs who have the most success are those who are able to find a real niche in the market that offers enough of a margin to meet their needs and aspirations. Successful entrepreneurs understand the importance of “failing on paper.” They carefully assess their idea to make certain that it has an adequate market and enough profit margin before they ever launch their venture.
As more and more entrepreneurs are being trained worldwide, it is this one skill, this one technology, that is having the biggest impact on their success.
So I respectfully suggest that the most important technology is not a gadget, but a process that has become systematized and taught to more and more aspiring entrepreneurs. Gadgets are nice, but they come and go and are really only marginally responsible for business success.