BUSINESS NEWSLETTER

BUSINESS AND ENTREPRENEURS NEWS LETTER.

By Egejuru Kenneth.

(Peep into digital transformation and diversification.)

Scatter your seed in the morning, and in the evening don't be idle because you don't know which will succeed, this one or that, or whether both will be equally good.

 (ECCL  11 VS 6) 

Taking this up from scriptural angle,we are being encouraged to upgrade our businesses and not be limited to a particular source of income incase .

In this context I have chosen a Commerce word to drive my points .

 *DIVERSIFYING IN DIGITAL ERA.* 

DIVERSIFYING in business means 

to start to produce a range of different types of products or services, in order to succeed in more markets or protect yourself against risk:

A lot of people hoped on stock market alone then and it paid them. 

But when the stock markets crashed  people were taken unawares and were advised

 to diversify their investments in the stock market to reduce risks.

More people were increasingly diversifying into other activities to supplement their incomes.

Even some companies with its powerful brand name,  have successfully diversified and entered new markets.

My neighbor working with Viju industry came back last week and gave me biscuit and satchet tomatoes being produced by Viju,but formerly they producing only beverage .

It would be a good idea to diversify the local economy away from its present over- dependence on oil .

The pandemic experience has also taught many of us a lesson why we must diversify.

 *DIGITAL ERA.* 

Have you thought of diversifying?

Have you updated your digital skill and knowledge?

Even if you have not ,start thinking of how you can scatter the source of income so as to minimize risk in the future.

Our God encourages diversity .

It is not a crime for you to be a banker and open a bread factory.It is not a crime if you are a medical doctor and own a school.It is not a crime if you are a teacher and own another business that supports you.

What you need is the correct knowledge of the next business you want to venture in and the modus operandus.

Seek for mentors and career experts advise.

In this digital era you should also see how you can diversify into digital businesses as the world is gradually shifting base .Some times, I just begin to imagine how the world looked like in those days without GSM.

Then banks without counting merchines.

Can you also imagine a business man or even your old woman in the village without a phone.?

This is the more reason why you need to start thinking ahead. Stop thinking as though you were still in analogue era.

You can't use an analogue equipment to solve a problem on digital age.Those equipments must have been replaced by more modern and efficient ones.

As an event planner ,I could remember about ten years ago ,anytime I wanted to print my clients invitation cards  ,calendar or program of events , I had to start queing on line for kord 201,lithography,separation and so on but since the emergence of digital technology under ten or thirty minutes you have your job.

My good friends, think of updating your digital knowledge.Facebook,instagram,twitter,youtube ,online marketing and training,etc .But while you do that remember there is good and bad things online ,try and make the right choice.

Scatter your seed because you never know the ones that will survive better.

Don't allow this pandemic experiences to hold you down.

Think of what to do .

Until you move God cannot move .When you move then you see God in action.God has given us every thing we need ,he can not come and do the computer work you are supposed to do in your office.

Be wise think  expansion .Let this pandemic experience teach you lessons and reasons why you need to  diversify.

Be digitally transformed.

Digitization is one of the most important business trends of recent years, but how exactly can digital transformation improve your business?

If you’ve been running a business anywhere in the world over the last few years, you’ll have undoubtedly heard multiple references to digital transformation. You may already have begun to digitize aspects of your enterprise.

Digital transformation means taking advantage of the capabilities offered by a range of new and exciting digital technologies. They have the potential to radically change how you plan and execute your business structures and strategies. The potential impact of these new technologies is hard to overstate – hence the use of terms such as ‘the fourth industrial revolution’ and ‘industry 4.0’.

Of course, industries have always embraced new technology, and the needs of corporations are probably second only to those of the military in terms of the innovation they have inspired.

Digital transformation is about much more than merely technology or disruption – although it involves a great deal of both. A key factor is the human element: digital transformation is not intended to replace people. Rather, it involves giving them new ways to connect with each other, and with smart devices. It offers new ways to collaborate and extract value from business data and offer a better user and customer experiences.

Ultimately, digital transformation is about empowering the people in your organization to work smarter and enabling your business to exploit previously inaccessible opportunities. Let’s look at how digital transformation can benefit your business.

May God help us in jesus name  amen.

Stay safe and keep safe.This pandemic shall end in praise.

 By KENNETH EGEJURU.* 

 *K.E* 

 WEDDING MASTERS