Business ideas

Springboard discusses scaling business ideas through technology

Technology is rapidly changing the world in ways that have never been seen before as people continue to search for cheaper, convenient and easier ways to do things.

Companies around the world are therefore always wondering how to use digital tools to provide tailor-made solutions to their customers.

This week on Springboard, Your Virtual University, host Reverend Albert Ocran has engaged MTN Ghana Senior Regulatory Affairs Manager Sam Fifi A. Bartels and Adroit 360 Managing Director Jacob Kwaku Gyan to the second time to share some tips on how companies could use technology to develop their ideas.

Sam Bartels has described scalability as the ability to grow a business to meet available opportunities.

Using the telecommunications industry as an example, he said engineers could create a site in an area that potential people would use for telecommunications services.

“As part of the planning, they might determine that around that area 1,000 people will be able to use the network, either for voice or data and based on that, they plan the site and can probably add 1,000 others to say its the headroom, just in case there is some form of growth.

“Along the way, a company is setting up its office there and suddenly there’s a buzz of activity and other people are moving in as well. Thus, within two years, the first 2,000 that were planned are sold out. So what has happened to the site is growth,” he pointed out.

He said scalability then became the ability that the site should be able to expand its capacity to accommodate what had happened.

“People often confuse what is growth and what is scalability, especially for small businesses, they don’t even take the time to get to their level of scalability.

“So when growth happens, your scalability will determine how you keep up with your growth,” he said.

Business management training

Mr. Bartels also noted that having a good education on how to run a business, both looking at what happened internally and externally, was essential.

He said many people, however, chose to overlook this, which then affected their businesses.

“What is your magic formula? Does it depend on the chef or the ingredients? If it depends on your ingredients, your business is scalable, if it depends on your chef, there could be a problem.

“A company that is built around talent, if it is a space where this talent is difficult to find, beyond a certain level, in order to be able to deliver to a certain level of clientele, you have to multiply the number of people you started with,” he explained.

“If you don’t have that talent, it means you can’t deliver to a certain scale. A lot of times people don’t take that into account and they get caught off guard,” he added.

Misinterpreted data

Bartels also noted that on many occasions, companies misinterpret the data they have.

“The fact that you succeed could actually be logged to a localized access. If he succeeds in East Legon, will he succeed on the other side of town? And it’s easy to read the data and say, because it’s been successful in East Legon, if I open a branch in every neighborhood in Accra, I’ll have the same market.

“The other thing is that when growth starts to happen and businesses expand, a lot of people don’t take into account the external environment. You may be doing your small business and the authorities may not care. -may not be a lot up to you, but at some level you may have to meet certain obligations and that will affect your results and the skills you need,” he explained.

Resources

For his part, Jacob Kwaku Gyan, described scalability as the ability to grow a business without having to make huge investments.

“If you are running a business and your annual turnover is $100,000, if you are able to earn $200,000 without investing much more, that is when we say you have been able to grow the business.

“But if you make $100,000, invest another $100,000 and you make $220,000, you’ve only made $20,000 more than the $100,000 you were making and that’s growth. Scalability means you don’t have to invest as much in terms of hiring or setting up more infrastructure and that’s why the word scalability is really with the tech people,” he said. he explains.

He said it was possible to scale every business, using standardization and automation.

For tech companies, he said, “before an investor even considers investing, they want to be sure that if they invest $1 million, three years from now we won’t be investing anything, but income will increase. ”

Owner paradox

Mr. Kwaku Gyan pointed out that one of the challenges preventing Ghanaian businesses from growing was what he described as the paradox of owners.

“When I started my business, without me, the work does not progress. So, in my early years, a Nigerian investor wanted to meet me in Nigeria and when I traveled, nothing happened in my company.

“And people appreciate that, a lot of companies, owners want to be the shining light and they don’t see how it affects them, so they don’t think about creating room for scalability,” he said. declared.

The Best Lessons From Sam Bartels

1. In-store analytics; store cameras now observe your movements, purchases and preferences to make suggestions. Attention is the most sought after commodity in the world.

2. Church; churches have been slow to adapt to technology. But today, multi-site churches share service from different locations. Cyber-enabled churches now have online devotions and offering options.

3. Sports; player recruitment, coaching, training and physiotherapy are all driven by data and analytics. Today, there are smart jerseys and helmets that monitor data. Sports consumption has been changed by technologies such as pay-per-view, virtual and augmented reality, etc.

Kwaku Gyan’s Best Lessons

1. Cooperation; some of the greatest successes are achieved when companies collaborate instead of compete with everyone else.

2. Data-driven decisions; don’t try to show off by trying to be everywhere. Not every idea can work in other places. Using data-driven research helps you know what will work without making assumptions.

3. The GOBE app; I developed an app for a popular gari and bean vendor in Alajo called Lebene. After her initial hesitation, she is now so excited because sales have tripled thanks to the power of technology.

4. Entertainment; today’s musician does not need a distributor. They can distribute their music from home using the power of YouTube and Instagram to connect with people around the world. All they need is a smart phone.

5. Trade; Technology offers convenient and instant options. Now you can sit in the comfort of your home, virtually review products and order. Smart software also suggests other things you might need and reviews from other users to help you decide.

6. Flexibility; Customer Relations Manager technologies now allow the company to personalize your customer experience and get you a refund when needed. These apps know your birthday and even give you birthday discounts.

7. Empowerment of African youth; someone who overheard me talking about technology in their church applied online to do national service. When her portfolio of 3D animation, python programming and graphic design was shortlisted, we reached out only to find out that she was a 12-year-old girl who had taught herself in technology.


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