Try checking all your devices, laptops and desktops for their respective maximum upload and download speeds. Chances are your Internet connection does not fully maximize your hardware potential. Today's standard for LAN network cards is 10/100, meaning a 10 mbps upload and 100 mbps download speed. Even mobile devices like the iPad has a download speed of around 56 mbps – more than enough room to do business on the Internet flawlessly.
A Faster Internet Speed Equals More Business Opportunities
And that is the direction of the major economies of the world today – to do business online. Silicon Valley understandably has one of the world's fastest Internet speeds, but all the major financial centers of the world has the same competitive Internet connection speed. Both in Wall Street and Hong Kong, information translates to profit, and the better the flow of information, the more opportunities the business can take advantage of, as the Internet speed increases.
In the local corporate context, faster Internet speeds mean more efficiency. Uploading large files in a shared 1 mbps connection can take hours. Try a VoIP service for your customers with a 5 mbps connection – talking to a client may be fine, but when hundreds of inquiries begin coming in, the bottleneck will be your Internet connection. Nothing less than a dedicated ethernet connection can handle such a load, and the thing is, you already have the hardware to do it.
If you factor in the evolving technologies of faster and faster Internet speeds, you are looking at room for growth – Internet speeds in the 100 mbps range of dedicated ethernet only became available in the last couple of years, while your hardware has been ready for such speeds since more than a decade ago.
Maximizing Your Available Resources
You have the room for growth in terms of hardware. In a recent study by McKinsey & Company, Internet profits already makes up almost 3% of the Gross Domestic Product (GDP) of the countries included in the research. In other words, the Internet has earned roughly USD 8 trillion. At the same time, this figure accounts only for 3% of the countries' respective gross domestic product. And in the meantime, Internet business opportunities just keep growing.
The investment is just going to be increasing your Internet speed – your hardware can take it. Scaling up your connection can take advantage of more Internet opportunities in a multiplier effect, in terms of cost to potential profit. All you need to do is take advantage of what you already have – the ability to connect.
The Easiest Solution Can Be the Best Solution
The Internet lets us stay connected, but the competition is how many connections you can maintain. Unlike other IT solutions where the cost invariably involves a huge capital outlay in either hardware, software, manpower or all of the above, look into the possibility of just upgrading the existing Internet connection of your business to at least dedicated ethernet speeds.
And see how your hardware and your business performs.