Despite the fact that most small businesses and consumers are facing the ugly truths of our current economic hardships head on, most of us have no choice but to march forward. In times like this, IT investments should be strongly considered by intelligent buyers, but that doesn’t mean they can be avoided forever. The good news is that there are options on all sides of the coin.

The last 5-10 years have seen steep drops in the price of technology; in particular, the cost of laptops and color laser printers has fallen precipitously the last few years. At the same time, the pace of software development has slowed relative to that of hardware development. What does all that mean? Computers last longer and they are cheaper than ever to replace. There are worse positions to be in.

Consumers and businesses may be able to repurpose older machines by passing them on to less demanding tasks. Given enough ram and a clean install of Windows XP, nearly any decent machine made in the last few years (let’s say 5) can be given another lease on life. These machines are almost always competent enough for basic internet and productivity tasks.

At the same time, it makes sense to ensure that power users have the resources they need. If someone is struggling to get their work done with the computer they have, that’s a problem.  Fortunately, for as little as $500. there are solutions.  In fact, these days $500.-$1000. goes a long way in just about every class of machine. For nearly all users, the days of the $2000. workstation are long gone.

Another key strategy for this period should be focusing on your core business and your core needs. This may not be the time to expand IT spending dramatically, but rather than cutting IT expenditures entirely, focus on improving what you already have.

Many businesses and consumers limp along for years at a time with poorly performing networks that are the result of bad purchasing, bad wiring, or just under-administration. Many lack even the most basic of backup strategies, let alone a fleshed out plan. These kinds of issues are a drag on productivity, happiness, and ultimately end up costing time and money.

Another similarly overlooked area (and one where spending money might actually save you money immediately) is printing.  Inkjet printing is tremendously expensive and far less reliable compared to laser printing in the long run. In recent years, the cost of  color lasers has fallen precipitously and laser ink costs less than inkjet. If you print daily, a little cost analysis might be startling.

In a nutshell, focusing on problem spots like this now will allow you to focus on growth when the time comes.

Finally, while not strictly an IT issue; online marketing has evolved considerably over the years. Consider sites like Yelp, Menupages, Google, LinkedIn, Facebook, and Twitter as avenues that may grow your business and have low costs of entry. If you are looking for some new marketing options, one of these may be a good fit.

Ultimately, while these are trying times, this is an opportunity to take a good look at the overall picture and see where you can make improvements. Nearly everyone is cutting back for the time being but those that do so intelligently and look for the opportunity will be focusing on other things a lot sooner.