Business Owners Advised To Be Innovative To Boost Market
Business owners have been advised on the importance of innovation to boost their competitive edge in the unpredictable market.
Financial experts discussed this while speaking at Citadel Global Community Church empowerment team programme titled, ‘Strategies for creative turnaround in uncertain times – Identifying opportunities and seasons’, in Lagos on Saturday.
While delivering a keynote speech on the importance of innovation in businesses, the Managing Director, Accion Microfinance Bank, Taiwo Joda, advised business owners to seek out opportunities amid challenges posed by the harsh business climate.
According to him, “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.”
He further advised business owners to transcend immediate challenges and explore new avenues for growth and enhancement.
The Managing Director of Decagon Institute, Chika Nwobi, also during the panel session, provided valuable insights, and advocated for prudent use of technology.
He noted that, “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.”
Speaking on the effectiveness of video technology in promoting products and services, he urged businesses to harness the potential of video for marketing and engagement.