Today a family business is more than just a family-run operation. Businesses will range in size from an idea to a start-up, to a fully functioning organisation. Anyone involved in a family business today will agree you have to be resilient, creative, enthusiastic, visionary, a mentor, and a wizard of all things.
We have this innate ability to deal with adversity and change. We can adapt our thinking to strategically navigate uncertainty and ambiguity as a family unit. Yes, there will always be challenges and disadvantages including conflict, differing expectations, and unstructured vision/planning.
Moreover, you need to be an expert and able to keep abreast of what is happening in the world of technology and understand how to safeguard and protect your business from Digital and Cyber threats. Most business owners will have a friend or relative that gives advice on the subject, or some will go a step further and employ someone with knowledge in IT.
We have heard these stories too many times where business leaders assume that because they have a back up system and antivirus software, everything should be ok. That is not necessarily accurate. A technology specialist firm can help your family businesses overcome challenges by providing specialised expertise and support that can help you grow and thrive. For example, an IT Managed Services Provider, or MSP, can help with IT support, cybersecurity, cloud computing, data management, automation and other critical areas that are essential for success in today's digital age.
An MSP can take the stress out of managing the technology requirements of your business, with consideration to economies of scale:
- processes are run by highly specialised and experienced experts;
- save on hiring and managing in-house experts to run the same processes.
- avoid having problems which typically occur when an internal IT staff member is ill or leaves;
- access to the latest technologies and applications as appropriate for your circumstances;
- quickly scale up or down according to changing business needs.
There are cost efficiencies to be gained using this model, as the service is typically provided through a subscription-based model. This gives you confidence in managing your cashflow and you can easily predict the amount you will be spending every month.
Savings can also be made in improving operational efficiency. By outsourcing your technology needs to an MSP, family businesses can avoid the high costs associated with hiring and managing an in-house IT team with varying skills (because one person can’t know everything), while still getting access to the latest technologies and applications.
As a Family Business member, Majestic also happens to be the FBA’s own IT service provider. We regularly attend FBA events and contribute to various newsletters and education pathways. Perhaps we’ve even had a chance to meet and chat at this year’s conference in Adelaide.
We have a deep understanding of family business particularly since we are one ourselves. As your family business continues to evolve and thrive, an understanding of the ways in which technology can help your business become more efficient, dynamic, and responsive to your own customers’ needs, rapidly becomes a business imperative.
By Peter Gatt, Business Development Manager – Majestic Computer Technology
Majestic Computer Technology is an Australian Family Business that has been successfully building and delivering IT solutions in Australia for decades. Established in 1992, Majestic provides advisory, outsourced IT and business automation services to various small and medium-sized clients across multiple industries, including manufacturing, professional services, construction and engineering, health, and life sciences and NFP sector. In addition to being a partner and member, Majestic is also the IT service provider for FBA. www.majestic.com.au
