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"THE HUMAN SIDE OF TECHNOLOGY" for convenience, productivity, safety, profitability or fun. This is the place to be to keep your finger on the pulse in emerging technologies. When should you zig when everyone else zags? Where should you concentrate your time, money or effort to capitalize on the next technology tsunami? Stay tuned . . . -Published by SAVVY INTRAPRENEUR

Managing Personal Technology ROI

Posted by Carl E. Reid Sunday, April 4, 2010

Companies make staff go through gyrations analyzing implementations of new technology.  What's the cost? What is the return on investment (ROI)?  What is the short and long term benefit to the company, clients/customers, productivity and profitability? 

You know exactly what I'm talking about, because you've been there.  This also applies to entrepreneurs or small business owners running their own business.  Don't you or your chief financial officer make your employees do the same types of justifications?  Now ask yourself this question.  Do I apply the exact same business methodologies when purchasing personal technology for myself, family or home?  If not, why not?
 
The iPad is soon to be released (see video below). As with any new consumer technology gadget, especially when released by Apple, a buying frenzy occurs with a "got to have it" mentality.  This works perfectly for the company selling the gizmo. It's a credit to the engaged marketing machine producing sales results.  When done right, a perceived need is created for the consumer, when none exists.  It deftly and subtly overrides a "need vs. want" analysis. Do really just want it?  Or do you personally need it to be competitive with your career or business?

So back to performing return on investment analysis when making personal purchases of cell phones, computers, car gadgets, HDTV, cable TV, Internet services, FIOS, the triple play package etc...
 Transferring skills you use at work into running your career as a business is a key strategy to career management survival these days.  It positions you for being more valuable to clients at work.  This is accomplished by reinforcing personal life technology purchases with the same business practices companies employ.

My wife and I only purchased, upgrade and continue to pay our Blackberry bill every month [or any home technology], because it provides us with much return on our $90/month investment.  It answers the business acid test of providing ROI for productivity, clients [employers] and personal income profitability.  Our personal monthly ROI must cover the cost, plus produce a profit into our bank accounts.  Otherwise, it's just a firm grip on an empty sack.

When was the last time you beat up a vendor for hiccups in your personal cell phone service, like you do at work?  That's right. Services providers for home technology are still vendors to you.  No one should blindly pay a bill in full, if the FULL services have not been rendered.  It doesn't make good business sense for companies.  Why should it for you personally?  Read more on how to get vendors to pay you when personal technology services fall short.  When the weather knocks out satellite cable TV or vendors create service interruptions for hours or days with technology upgrades, that's not your problem. They owe you a credit.  You pay your bill "in full" for full services every month, no matter what.

Your career is your business. Your business is your career. Anyone who runs their career as a business, extended into your personal life purchases, is the smarter person who survives these days.

1 Responses to Managing Personal Technology ROI

  1. Anonymous Says:
  2. I really never thought about assessing electronic items I buy the way I do it at work. Good point.

     

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