The future is tilting towards absolute digitisation. By 2020, the digital revolution would be in full force having over 100 billion interconnected mobile users. Hence, you must be prepared to thrive in the face of this global advancement towards absolute digitisation.
It is undisputed that Africa holds one of the largest marketing opportunities; start-ups must take advantage of this to build sustainable businesses that can stand the test of time. As an African start-up, there is a need to continuously develop innovative solutions to problems around you to make an impact in your community. Four important elements must be in place to show your readiness:
1. The Right Talent and Expertise – You need to recruit good hands as well as empower the existing workforce through training and by providing adequate resources. You also need to incorporate digital modifications into your core operations in order to increase capacity and transform your products digitally. It is expedient to develop a culture of continuous upgrade as digital trends evolve because failure to adapt would lead to a collapse.
2. The Right Work Processes – To retain customer loyalty and candid feedback, you need to continuously engage your customers on a more personal basis. In spite of digitisation, there must be the complementary place of personal interface which cannot be underplayed.
3. The Right Technology – A good example of using the right technology would be digitalised industrial platforms such as data, storage, financial records and so on. As a start-up, you need to work smarter, be flexible and be more transparent whilst bearing in mind that continued investments in traditional methods would only yield limited returns.
4. Strategic Partnerships – Finally, strategic partnerships between enterprises foster growth in the eco-system. Get connected to the right partners and investors with genuine motives to simultaneously drive value and profit for mutual benefits. You need to get connected, get insight to aid better decision-making and fully optimize production processes. It is important that you run adaptable facilities, maximise your return on assets and ultimately impact people.
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234Finance is an online hub that promotes African Entrepreneurship. We feature small and medium sized businesses on the platform, shedding light on the current and future developments in diverse sectors across Africa. We also provide free resources, share opportunities and events on our platform that entrepreneurs can benefit from and thrive in Africa’s tough business landscape.