Business owners have been urged by financial experts to navigate the volatile market dynamics through innovation to gain a competitive advantage.
The Punch reported that the financial experts gave this advice on Saturday in Lagos at a Citadel Global Community Church empowerment team session titled “Strategies for creative turnaround in uncertain times – Identifying opportunities and seasons.”
In his keynote address on the value of innovation in businesses, the managing director of Accion Microfinance Bank, Taiwo Joda, urged business owners to look for opportunities despite the difficulties presented by the challenging economic environment.
Every firm goes through cycles with its share of ups and downs, he claimed. “Even during the COVID-19 pandemic, some companies did well while others struggled. The secret is to position yourself creatively for opportunities.”
Joda emphasized the value of defining precise baselines and goals as the essential driving principles.
He claimed that in order to succeed, business owners needed to cultivate a growth attitude and sustain a strict standard.
He urged business owners to go beyond current difficulties and investigate fresh opportunities for development and improvement.
The managing director of Decagon Institute, Chika Nwobi, offered insightful comments and promoted responsible technology use during the panel discussion.
“Technology should not just be there, he continued, it should also increase your company’s profitability. It is best to take your time if you are unclear of how to use it to develop.”
Nwobi also emphasized the value of video technology for advertising goods and services.
In the digital age, when visual content rules, he encouraged businesses to harness the potential of video for marketing and engagement.
