Financial experts emphasize innovation as the driving force for business success in uncertain markets.
At the Citadel Global Community Church empowerment program, themed ‘Strategies for a creative turnaround in uncertain times – Identifying opportunities and seasons’, held in Lagos, experts highlighted the importance of innovation.
Taiwo Joda, Managing Director of Accion Microfinance Bank, emphasized the need for businesses to identify opportunities even in challenging circumstances. He highlighted that businesses go through cycles, and success lies in finding innovative approaches.
“Every business experiences cycles with its share of ups and downs. Even during the COVID-19 pandemic, while some businesses thrived, others faltered. The key lies in finding innovative approaches to position for opportunities.”
Joda also stressed the significance of setting clear targets and baselines as guiding principles for business growth.
“To flourish, business owners must foster a growth mindset and uphold an unwavering standard,” he added.
Chika Nwobi, Managing Director of Decagon Institute, advised prudent use of technology, emphasizing that it should enhance business profitability. He encouraged businesses to leverage video technology for marketing and engagement, considering its effectiveness in the digital era dominated by visual content. Nwobi also plans to use video for sharing insights and contributions from team members.
“Technology should not just exist but should enhance the profitability of your business. If you are unsure of how to leverage it for improvement, it is best not to rush into it.” he Added.
