Is That Really Necessary?

Having trouble figuring out what technology you need amongst all the useless fluff, add-ons and upgrades? We got you covered.

Bill Gates and Joseph Schumpeter were right on target--arming entrepreneurs with innovative technology is the shortest route between anywhere and prosperity.

A Harvard economist, Schumpeter preached entrepreneurship when America was an over-regulated group of corporate fiefdoms, passed on about the time Microsoft's chairman was born and never saw his theories become validated by the entrepreneurial boom of the '80s and '90s. Gates, who was central to that effort, assures us that the recent business slump is just a breather, and that even greater productivity will flow from office product investments over the next decade.

Blatant self-interest on Gates' part? Sure. But when he's right, he's right. The recession can be traced directly to the slowdown in capital spending after interest rates rocketed sky-high. Now it's about time to start shopping again--but cautiously. Technology enthusiasts like Gates are good at forecasting visions of improved efficiency, reduced costs and more dollars to the bottom line. But it's you who has the power to make them come true.

Between the promise and the bottom line stand installation and implementation issues, employee training and support costs, bugs and other product shortcomings. Sometimes, the real benefits aren't scheduled for delivery until the third or fourth version of a product comes out. It all works out eventually, but they don't call it the bleeding edge for nothing.

To make your technology investments generate more savings than costs is tricky. Only you know how a product will suit your company's needs. But here are some buying guidelines for the product categories that are changing the most this year.

Page 1 2 3 4 5 6 7 8 9 10 Next »

Like this article? Get this issue right now on iPad, Nook or Kindle Fire.

This article was originally published in the April 2002 print edition of Entrepreneur with the headline: Is That Really Necessary?.

Loading the player ...

Shark Tank's Daymond John on Lessons From His Worst Mistakes

Ads by Google

Share Your Thoughts

Connect with Entrepreneur

Most Shared Stories