Three Essential Investments Every Tech Company Should Make in 2020

The turning of a new year should be an exciting moment for your company. To prepare for it, you
will need to start considering which investments you want to make to enhance your business. Just
because you are the entrepreneur of a tech company does not mean that your extra funds should
be spent on expensive gadgets and unnecessary, flashy assets. Instead, focus on investing in your
staff, enhancing your team and ensuring your staff have the sharpest tools to get their work done.
Here are three essential investments for 2020 that’ll serve your business long into the new decade.

Staff Training

Encouraging your staff to learn new things is beneficial for your business for a variety of reasons –
not only will they be able to bring new skills to your company, their confidence will grow, in
addition to their work satisfaction. Training your staff to analyze your existing systems is extremely
valuable as this is exactly how a business grows – regularly trying new things and analyzing the
result. For example, taking the time to train and gain a Root Cause Analysis certification online with
6Sigma will support your employees as they master Six Sigma principles. Courses are the best way
to educate your employees on new tactics and skills that will benefit their work.

If you are considering which course to offer your employees, the best thing you can do is ask them
what they would like to learn. Here are a few examples of popular courses for practitioners in the
tech industry:

  • UX research and design
  • Python or similar coding languages
  • Digital marketing techniques
  • Data analysis methodology

Training your staff is a priceless investment that will enhance their experience at work, in addition
to benefiting your company – well worth the cost and the time out for your staff.

Hire an Expert

Many companies are opting to pay for consultants or freelancers for a short period of time, rather
than full-time employees. This is because the world of tech is constantly changing, and therefore
your needs and demands may be in a constant state of flux. This does not mean that you should
consider eliminating staff members or offering individuals unethical work contracts – however, you
should consider your needs before appointing a permanent member of staff.

Freelancers and consultants are extremely valuable because they are able to see your company
with a fresh pair of eyes – allowing the team to grow towards a more knowledgeable and inspired
organization. Here are a few examples of instances where freelancers and consultants are valuable:

  • Chief Technical Officer
  • Chief Financial Officer
  • Designers
  • Content Creators
  • Digital Marketing Experts

But why stop there? There are a wide variety of tasks that you can outsource online: you just have to rethink the method your business uses to get things done.

Update Your Software

If your systems are out of date, your staff will be unable to work in a timely manner. It is a very
simple, yet expensive, task – but software maintenance is vital to your company’s success in 2020.
Consider which software packages you would like to invest in – and remove ones that are not used
often by your staff. Your goal should be a unified software system that balances all of your tasks
with ease and enables your staff to work at their best.

2020 is the year to invest in your company: if you want to improve your tech business – the best
investment you can make is your employees.