In many ways, social media is the defining characteristic of the information age. It has transformed the way people communicate, market their products and services, and it has brought a litany of issues into the public consciousness. On the other side of the coin, social media currently costs many business billions of dollars a year in lost productivity. Let’s take a look at the pros and cons of social media, and how your business can put yourself in a net-positive position regarding the technology.

Even if you try to ban them in the office, it’s inevitable that your employees will bring their mobile devices to the workplace anyway. Instead of worrying about them wasting away the day, why not try to turn the devices to your advantage? There are more tools out there than ever before to not only add smartphones to your workflows, but to make them profitable and valuable for your organization.

There is no question that a small business can benefit from technology, as has been proven time and time again. However, an issue can arise if a business bites off more than it can chew, so to speak, and ultimately creates a spike in costs. A responsible business owner will resist this temptation and prioritize the solutions they need over the ones they want - building profitability and generating capital needed to make other improvements.