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Why Businesses Should Take a Long-term Approach to People, Product, and Customers

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By Andrew Bourne, Region Manager, Africa, Zoho Corporation,

Business success is perceived differently today. Buzzwords like maximization, venture-backed, growth hacking, and well-conceived exit strategies (like IPOs or acquisitions) define entrepreneurial success in the current age. In a mad rush to show high quarter-on-quarter growth rates, corporate leaders have forgotten that the true value of a business is how long it stays relevant in the market and instead focus solely on transient growth spurts even if they cost profits.

Any business, no matter how big its initial success, needs to take a long-term approach if it’s to avoid being one of history’s almost-rans. This applies to every aspect of the business, including, people, products, and customers.

 

Invest in People

When you are a new company working on developing deep tech, discovering talent and retaining them is a challenge. Try to create and slowly nurture a pool of capable workers who will gain domain expertise over time. At Zoho, in order to sustain our long-term R&D efforts, we initially kept the teams small and worked with people who were committed to learn and understand the domain.

Patience is the key when you cultivate talent in-house. As people refine their skills and gain deeper domain knowledge, they gradually bring their learning to the business and build a solid offering that will stand the test of time. Ultimately, it’s the culture of experimental learning that you build which keeps you going and also motivates people to stick around for the long haul.

 

Build a product that can pivot and adapt

Equally important is to take a long-term approach to your product. You might be selling something simple today, but you need to be able to build on that. Take Amazon, for example. It started out selling books and gradually built out to become a trillion-dollar company. It hasn’t just focused on e-commerce either. Amazon Web Services (AWS), its cloud-computing division, keeps more than 40% of the internet up and running.

The lesson here is that long-term thinking isn’t just about having a product plan and sticking to it. It’s also about adapting to any future opportunities that present themselves. Whatever sector you operate in today, it will see disruptions sooner or later. If you can adapt to those changes, or find new opportunities in other sectors, you will be better placed for continued success than your competitors.

 

Keep up with customer expectations

Finally, you need to take a long-term approach to your customers. If you are constantly gaining new customers but not retaining them, you’re unlikely to see real success. Returning customers routinely spend more money on brands they’re loyal to. People are also more likely to recommend others to businesses they have had a good experience with. Simply put, it just makes business sense.

But taking a long-term focus with your customers isn’t just about the direct touch-points you have with them. Everything, including the software solutions you use, should have the customer at heart. For example, a unified tool which allows you to instantly see every interaction a customer’s had with your business (be it via voice, email, or chat), will put you in a much better position to serve them than trying to work with several different products.

Taking this long-term approach might feel overwhelming initially, but it’s much more likely to pay off than simply trying to survive from quarter to quarter. After all true success is built over time.


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Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

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Zarttech Reaffirms commitment to Foster Digital Skills Among Nigerian Youths

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As part of its goal of promoting digital literacy in Nigeria, Zarttech has held its yearly Zarttalent Summit aimed at empowering young people to take up and explore opportunities inherent in the Technology sector.

Group picture of participants at the Zarttalent Summit held on Thursday in Lagos.

This year’s summit themed: “How To Win With Tech” was held at the firm’s brand-new state of the art office located at Ago Palace Way, Okota, Lagos.

Mr. Nelson Ajulo, Chief Executive Officer (CEO) Zarttech, speaking at the event said that the aim of the summit is to help young Nigerians acquire digital skills needed to become self-reliant as well as give them the opportunity to compete favourably with their contemporaries in the global tech ecosystem.

According to him, the summit is part of Zarttech’s ongoing commitment to driving social impact and fostering innovation among Nigerian youth, with the purpose to catch them young.

He said that the programme in its fifth year is to create awareness on the future of labour force in Nigeria and globally.

“And part of the biggest problem that I have seen within the Nigerian economy, also for my PhD research is that these children or the average Nigerian, does not even know what they need to study.

“They don’t know what the economy or what the employer wants, or what the job market needs in the labour market, so they go to school to study without even knowing the end result.

“Which would be that they are able to obtain a certificate that actually says that they are an amazing employee to be hired.”

According to him, when they go and invest the time, invest the resources of their parent on an unintentional intent, and then they also learn something that was not It’s not of great value, then it is redundant, like wasted time and wasted resources.

He noted that it’s really crucial that children and youths are aware of this understanding and that the Summit has created that awareness.

During a panel session titled: “Navigating Tech Career from the Inside” experts majorly from Zarttech team stressed the need for young Nigerians, particularly secondary school students to take up digital skills irrespective of what they aim to study in school.

Oreoluwa Adesanya, Zarttalent Data Analyst Tutor, encouraged students particularly those at the summit to embrace tech as a career. She narrated how she transitioned from studying medical laboratory science in school to becoming a data analyst.

Also, Babatunde Shodeinde, Head of Design at Zarttech, who also transitioned to tech sector after graduating in a different background in school charged the students to start now, adding that their young age is a huge advantage for them to achieved whatever they set their minds to in the ecosystem.

According to him, “you are still very young and there’s no limit to what you can achieve. If there’s better time to start, it’s now. Trust me I know people younger than you people here, I know seven-year old’s learning programming, learning design, learning data and so on. The age in which you’re in right now there’s just so much information out there, so much resources for you to experiment with.”

Speaking at the summit, Mrs Sonia Fajusigbe, Policy Advisor Entrepreneurship Youth Employment and Healthcare Consulate General of the Netherlands in Lagos encouraged youths on the effective and efficient use of technology to their advantage.

Fajusigbe said that there are so many opportunities in the technology ecosystem for the youths to harness as entrepreneurs and innovators.

According to her, our climate in Nigeria is very interesting and with limited opportunities but one can make the best opportunity out of it.

“Data is gold, you have phones, install Britannica it is for student in high school and elementary schools basically for research, it will help you.

“If you do that, you will not go out of scope and remain within the scope, and I would like everyone to take this with them.

“It says self-discipline is what separates winners and the losers, when you are not disciplined, you are just among the crowd.

“It is when you are self-disciplined, you have a goal in front of you and focus on it.”

Fajusigbe said that youths should try as much as possible to ensure consistency in that discipline and when consistency is mixed with discipline one would achieve a whole lot.


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MultiChoice Introduces New Channel, Renames Three others on DStv, GOtv

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Pay-TV operator, Multichoice Group, has rebranded its SuperSport variety channels on both DStv and GOtv platforms.

In a statement on Thursday by the Executive Head of Marketing at MultiChoice West Africa, Tope Oshunkeye, MultiChoice announced that the changes took effect from Wednesday, October 9, 2024.

Changes on DStv, GOtv

As part of the rebranding, the current SuperSport Select Channel has been renamed SuperSport Africa.

A new channel, SuperSport Action, has also been introduced, featuring a broader range of sports content, including UFC matches and additional Champions League games.

GOtv packages will see the following changes:

  • On the GOtv Jinja and GOtv Jolli packages, SuperSport Africa will replace Select 2 (Channel 64).
  • On the GOtv Max package, SuperSport Africa and SuperSport Africa 2 will replace Select 1 and Select 2 (Channels 63 and 64).
  • SuperSport Action will replace Select 3 (Channel 69) on the GOtv Supa and SupaPlus bouquets.

Oshunkeye explained the reason for the updates, stating, “The channel revamp is part of our ongoing efforts to enhance our sports offering and provide customers with more unbeatable sports content that resonates with them.”

He added that the new channels would deliver top sports action from around the world, including local boxing, UFC events, comprehensive analysis, and other engaging content curated for the African audience.

Oshunkeye reiterated MultiChoice’s commitment to offering premium services, saying, “We remain dedicated to delivering the best sporting action to our customers and continuously exploring ways to delight them with more choices, exciting live content, and great value.”

Subscribers are encouraged to subscribe, reconnect, or upgrade their packages through the MyGOtv App or by dialing *288#. They can also watch their favourite sports on the go using the GOtv Stream app.


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XA Network Expands Footprint to Africa with Launch of XA Africa

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XA Network, a leading investment network founded by tech alumni in Southeast Asia, on Thursday announced its expansion into Africa with the launch of XA Africa.

The move underscores the network’s vision and commitment to fostering innovation and supporting promising startups globally.
XA Africa is founded by a trio of experienced tech professionals:

● Nitin Gajria, former MD of Google Sub-Saharan Africa
● Jason Scott, venture capitalist and an architect of the Black Founders Fund at Google
● Marek Dawidowicz, current Marketing Director at YouTube and South African native

“Founders of technology startups in Africa are uniquely placed to solve some of Africa’s most profound challenges and unlock its greatest opportunities.

“We see the foray of XA Network into Africa as a natural progression, allowing us to connect amazing founders to experienced and expert operators from the tech industry”, says Nitin Gajria, Co-Founder of XA Africa.

XA Africa aims to connect exceptional African tech founders with seasoned investors and industry experts, primarily from global and regional technology companies, to provide not just capital but also the guidance and support needed to scale their ventures.

The newly established XA Africa has already made notable investments in promising African startups, including:

● Crop2Cash (Nigeria)
● BuuPass (Kenya)
● Kaya (South Africa)
● Talamus Health (Ghana)

“We are excited to have XA network on board because of their strong network of experts who are open to listening and helping.

“They’ve introduced us to advisors from Expedia and truly understand the dynamics of emerging markets, making them a valuable investor.” – Sonia Kabra & Wyclife Omondi – Founders of BuuPass

“Partnering with XA Network has been a game-changer for our company. Their strategic guidance and network have opened doors to new opportunities, and we’re excited to see the impact of our collaboration continue to unfold.

“We’re grateful for their trust in our vision.” – Michael Ogundare – CEO of Crop2Cash

Since its inception six years ago, XA Network has established itself as a significant player in the Southeast Asian startup ecosystem, making nearly 100 investments in the region, and consistent ranked as #1 investment network in the region.

XA Network comprises senior leaders from prominent global and regional technology companies and notable company founders.

This approach distinguishes XA Network, enabling it to offer portfolio companies unparalleled guidance and support from experienced industry operators.

“We also see an opportunity to build a stronger bridge between ecosystems in Africa and Southeast Asia along the way.

“In fact, this investment hypothesis has already been proven across some of the African founders we are currently supporting.”, Mr Gajria added

The XA Africa team will be hosting their first public Demo Day webinar on Thursday November 7, 1-2pm GMT+1, where Africa focused investors can meet and invest in four founding companies and learn more about XA Africa. Click here to register for the event.

 


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