Expert urges entrepreneurs to build business around COVID-19
She said building businesses with automating business processes with technology was imperative in the pandemic era.
Mrs Busayo Adegoke, a certified Strategy Consultant on Tuesday urged entrepreneurs to build their business around COVID-19.
Adegoke said in Ibadan, that COVID-19 had proven to be one tough nut that would "not be cracked with the whiff of breeze''.
"Hence it is noteworthy to say that COVID-19 is one infection that will continue to live amongst humans, just as Malaria dwells amongst humans in certain climes.
"Having established these harsh realities, I will not fail to share some proven strategies and insights that entrepreneurs can leverage on in the year 2022 to thrive in spite of the COVID-19.''
She said building businesses with automating business processes with technology was imperative in the pandemic era.
According to her, before now, no one would have thought that people will request for certain products and services from the comfort of their home, but we experienced this pre and post- pandemic.
"The e-commerce industry has experienced a tremendous growth and it will experience more.
"The e-commerce market size was valued at 9.09 trillion dollars in 2019 and reached 10.36 trillion dollars in 2020.
"It feels so near yet so far. The psychological, physical and economic effects left us all in awe, as none was prepared for such eventuality.
"It was as though the entire planet would be wiped off but in spite of the huge losses recorded in humans, businesses and resources, the planet has not been wiped off entirely.''
Adegoke said a number of businesses had not only survived the pandemic, but were constantly evolving and adapting with the changes that the pandemic had brought about.
She said there was the need for businesses to automate their processes, leveraging on technology and ensure seamless supply chain management.
She said that products and deliverables should be designed or developed to suit the pre-pandemic era, if not, it would be a struggle to meet the current market needs.
"This is not about the aesthetics of the products or name tags of service offerings, but more about the end to end value chain of existing products or offerings.
"Leveraging collaboration and partnerships are important as it is better as an entrepreneur to have a small fraction of a big thing, than having a big fraction of nothing.
"A lot of renowned brands thrive on partnerships and collaborations; otherwise entrepreneurs can be overwhelmed.
"It is advised that entrepreneurs are positioned to attract opportunities to collaborate for the sustainability of their businesses, but of course the values and business objectives have to align.''
The consultant said another process was the disruptive innovation which could help entrepreneurs to access their prospects globally by leveraging on technology.
"This implies that the best foot should be put forward at all times to attract leads that will convert, so there is need now than ever to be innovative and creative with product development, packaging, marketing and sales processes," she said.
Adegoke said that entrepreneurs were mostly regarded as solution providers, and in every challenge, opportunities emerge that birth the best businesses, brands and products.
"The year 2022 is presenting another opportunity to solve more problems through products and offerings that are created, as well as how they are presented to the market.
"In spite of the pandemic or any eventuality that comes, entrepreneurs will have the ability to thrive by implementing some of what I have explained,'' she said.