Navigating The Path to Business Growth: Innovate or Die

Innovation is a key component of a business. For a business to grow appropriately, the key decision markers and business managers have to think innovatively and creatively. The benefits of innovation on business are already well-documented, so there isn’t really any need to go over it again. In any case, you can read about them here.

How exactly can you think innovatively? Here are a few tips:

  • Clear your head: This should be the first thing you do. Make sure you are relaxed and do not feel pressured. The best ideas are formed in a relaxed and calm atmosphere. If you find it hard to stay calm or keep a clear head, you can complete some relaxing activities like taking a walk while listening to calming music, preferably classical. It works for me and should work for you too.
  • Ask questions: ‘Curiosity kills the cat’ a common phrase. But this does not work when it comes to business. Prime your mind to observe, inquires, question and understand concepts around. Remove any constraints that might inhibit your inquisitive nature. Challenge old ways of doing things and try to imagine new ways that they can be done.

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  • Increase your exposure: Make sure to put yourself in a position where you will be able to observe a wide variety of things. Never assume that any knowledge is useless. Note that ideas are usually birthed from other ideas. Henry Ford got his idea of the assembly line technique of mass production from observing a meatpacking plant. The more exposure you have, the more likely you’re going to pick up ideas for your ideas.
  • Be imaginative: You should be creative. Don’t squash that random idea that comes to you prematurely. Allow your imagination run wild. Think of ways things can be done differently. You can follow some tips to boost your creativity.
  • Exceed boundaries: Don’t feel caged or forced to follow the status quo. Be ready to think outside the box. Learn to deal with and learn from past failures; be ready to take risks to find out what works and what does not.
  • Welcome feedback: Ask for people’s opinions and ideas and gather these to come up with a better idea for your venture. Also, feedback is important to know if a current idea you implemented would be a hit. Never disregard this.
  • Run brainstorming sessions: This can be done individually or in a group, although it is usually more effective when done in a group. This would involve coming up with a large number of new product ideas. Make sure to have people from diverse backgrounds if you plan to have a group brainstorming session. You will be better served if you include a provocative outsider, like a consumer or supplier.

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  • Adapt old solutions for new problems: You could do this by applying an existing product to a new need available. You could look for new uses of your product. For instance, De Beers produced industrial diamonds but found a new use for diamonds when they introduced the concept of engagement rings. It opened up a large new market for them.
  • Watch your competition: This does not mean to blindly follow whatever innovation they come up with. Instead, observe them intelligently. See if there are any of their ideas you can refine and adapt and even possibly license as your own. You can also acquire smaller profitable businesses if possible!
  • Look outside: You can outsource your new project development to external companies to work on this. Company like Edumark Consult can help us engage actively within the education community.  If that seems like a risk for you, you can ask individuals to come up with novel ideas for innovation. Countless big companies have been known to do this successfully.
  • Go back in time: Look back at older business models and products. Try to ascertain which of these models can work for the present market. Be sure to refine it, however, to fit into the current market trends.

The tips above are in no way exhaustive of all the tips that can be used to improve innovative thinking. Also, not all of them might apply to your business model. Whatever the case, use the tips as a guide to building your business even further through innovation.

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BMHS wins Wowbii 2.2M Naira Worth Interactive Board at TOSSE-Edumark Webinar

With great joy, the Baptist Model High School (BMHS), Isolo received a 2.2 million naira 65-inch Wowbii Interactive touchscreen board from Wowbii Interactive for being punctual at a webinar recently organized by the Total School Support Seminar & Exhibition (TOSSE).

The webinar tagged “Technology in Schools: Our Fears! Our Pains! Our Desire” organized by TOSSE in partnership with Wowbii Interactive was held on Friday 12th of May, 2023.

The webinar started at 6pm, however, a staff of BMHS, Mrs. Rebecca Simeon-Charles had joined the program a few minutes before 6pm. At the end of the program, the CEO of Wowbii, Mrs. Olabisi Akinpelu asked who was the first person to join the webinar. Without prior knowledge of what was about to happen, the staff from BMHS, who was the first to join the Zoom program responded. And then, the prize for punctuality was announced. This came as a surprise to everyone present at the meeting.

Mrs Rebecca Simeon-Charles (the first person to join in on the webinar).
Mrs. Olabisi Akinpelu (CEO, Wowbii) congratulating Mrs Rebecca Simeon-Charles.
Mrs. Yinka Ogunde congratulating Mrs Rebecca Simeon-Charles.

The presentation of the Wowbii Interactive Board took place on the 16th of May, 2023 and present was the Convener of the Total School Support Seminar & Exhibition (TOSSE) Mrs. Yinka Ogunde & her team, The CEO of Wowbii Interactive, Mrs. Olabisi Akinpelu & her team and the Administrator and staff of Baptist Model High School, Reverend Omotosho (The Head of School), Mrs. Olamide Aasa (The Principal), Mrs. Rebecca Simeon-Charles, other staff members, and a few students.

Students of BMHS.

Mrs. Olabisi Akinpelu, while presenting the Wowbii Interactive Board says it comes with a 2-year standard warranty and the Teachers will be provided with support & training on its usage for the period of 2 years.
She commended Mrs. Yinka Ogunde for providing the platform to impact the education industry. She also extended her appreciation to her Boss, the Founder of Wowbii Interactive, Mr. Gbolahan Olayomi for his drive and will to contribute to the Education Sector and applauded the school representative, Mrs. Simeon-Charles for joining the meeting early and staying till the end.

Reverend Omotosho (The Head of the School) and Mrs. Aasa (The Principal) also praised Mrs. Simeon-Charles for representing the school well and winning the prize for the school. Stating that they are not surprised she made it early enough to the webinar, as she is dutiful and diligent in her assignments.

When asked to speak, Mrs. Simeon-Charles with so much excitement, expressed her gratitude to the school authorities and said she was faced with challenges that could have hindered her from connecting to the program. However, she saw it as an opportunity to make sacrifices for the school. She advised her fellow teachers to always make themselves available for any program they are sent to, and not to be carried away when they face challenges.

Top Technological Innovations for Business Transformation

Innovation and Technology are key parts of business today. In fact, they both work hand in hand. Here are some technological innovations that made waves in recent times:

Artificial Intelligence (AI)

A lot has been said about Artificial intelligence and its impact on businesses. It has significantly affected and improved the way customers interact with businesses via intelligent websites and chatbots. According to Forbes, 80% of enterprises are now investing or planning to expand in AI platforms.

 

“The largest impacts across all industries—from retail to healthcare, hospitality to finance—are felt when AI improves data security, decision-making, employee output, trainings, speed and accuracy,”

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Maddy Martin, community vice chair and head of growth and education for Smith.AI, said. “With more capable staff, better-qualified sales leads, more efficient issue resolution, and systems that feed actual data back in for future process and product improvements, companies employing AI technologies can use resources with far greater efficiency. Best of all, as investment and competition increase in the AI realm, costs are reduced.”

Ultra-Fast Internet

There is an insatiable appetite for super-fast internet by most individual users of it. This need is even greater for businesses, either big or small. This helps improve business efficiency and provide reliable communication tools for companies that rely on remote workers. To satisfy this need, there has been the invention of 5G, which is exponentially faster than 4G. The effects of this technology, though, are up for debate with some quarters labelling it as dangerous.

Virtual Reality (VR)

While Virtual Reality might be seen as an innovation solely beneficial for gaming and entertainment, it has recently more widespread applications in businesses. According to Flatworld Solutions in an article on “Virtual Reality and Its Impact on Business”, the following are impacts of VR on business:

  • An all-new level of product prototyping
  • Reduced business travel & efficient business meetings
  • E-commerce advertising will see a new side
  • VR can provide competitive advantage to businesses
  • Interviewing candidates will be easier
  • The future of retail will be very different
  • Virtual conferences and meetings will be popular
  • VR will be an important tool in training
  • Affordable virtual designing of structures to visualize the project better
  • Offering virtual tours will be possible

Blockchain

A blockchain is, in the simplest of terms, a time-stamped series of immutable records of data that is managed by a cluster of computers not owned by any single entity. Each of these blocks of data (i.e. block) is secured and bound to each other using cryptographic principles (i.e. chain). Originally devised for the digital currency (Bitcoin), the tech community has now found other uses for the technology. Blockchain technology can be used to create a permanent, public, transparent ledger system for compiling data on sales, tracking digital use and payments to content creators, such as wireless users or musicians. It has also found application in financial services and video games.

Internet of Things (IoT)

The Internet of Things, which is commonly called IoT, refers to the billions of devices around the world that are connected to the internet through sensors or Wi-Fi. It’s basically a giant network of objects that connect to the internet. Each device collects data, and this data, known collectively as big data, is exchanged and analyzed. IoT-connected smart devices can be an everyday item such as a phone, car, watch, washing machine, or refrigerator. IoT devices can also be components of machines and systems, such as on an oil rig or airplane engine.

A Forbes article explained the massive benefits of this innovation on businesses, and quite a number of businesses have jumped on board this fast-moving train.

 

 

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Six Very Attractive Opportunities at TOSSE

TOSSE is not just a platform to connect with like minds, network, and explore new educational innovations but also a place to rediscover yourself and prepare ahead for tomorrow’s challenges. We have listed six exciting opportunities you can take advantage of at TOSSE.

Get Socialized:  The perfect way to increase productivity is to take a break and get socialized. But this time, you are either there for yourself or your company. At TOSSE, you will have fun meeting new friends and clients while you stay refreshed.

Get Inspired and Stay in the Know About Latest Trends in The Sector:  Every edition of TOSSE is an opportunity to encounter new ideas, inventions, innovations, and discoveries. What you experience can be a starting point to reinvent yourself or your company. Let’s take you to the next level.

Network and Open Up Opportunities with Stakeholders in the Education Sector: Have you ever met people who easily mingle with others in business meetings or gatherings? They are not afraid of meeting new people because they know the value it may bring them. At TOSSE, we have received loads of testimonials from people who got contracts and jobs from a random person they met at the event. The possibility is limitless.

Showcase Your Corporate Culture: One factor that attracts people to work for a company, especially the younger generation of the workforce, is the company culture. Social events can attract talent to your organization as you showcase how interesting and coordinated you are as an organization.

Improved Employee Marketing Experience: TOSSE provides the opportunity for companies to explore limitless marketing channels created to boost sales and brand awareness. You can improve your existing employees’ experience through a field simulation at TOSSE where employees meet, persuade, get data and convert prospective clients.

Cut Marketing Budget: Imagine meeting all your prospective clients in one place. Then talk to them one-on-one and share how your solutions can help them. That is a huge saving on your marketing budget.