Startups with digital business strategy attain profitability faster
19 August 2020 |
3:36 am
Startups with digital business strategy attain profitability faster than others. According to Learntor, a digital consultancy firm focused on Strategic Agile Transformation
Startups with digital business strategy attain profitability faster than others.
According to Learntor, a digital consultancy firm focused on Strategic Agile Transformation, Digital Marketing Training & Coaching, experts’ reports show that 55 per cent of startups with digital business strategy in their operations achieve profitability faster than others without such strategy.
Learntor, which recently facilitated a five-day digital career open training in Agile, Data analysis (Power BI), Digital Marketing, General Data Protection Regulation (GDPR), and Nigerian Data Protection Regulations (NDPR) and compliance, also noted that such digital adoption has transformed more startups and increased customer satisfaction and experience.
According to the Chief Executive Officer, Learntor, Mercy George-Igbafe, the market landscape in Africa is taking new trajectories with the upsurge of digitally-empowered startups, which have scaled successfully, providing personalized solutions, and leveraging innovative digital technology to solving the problems of their clients across the continent.
George-Igbafe said these startups are gliding through the African markets space, maximizing data to help make informed decisions with little challenges, especially the kinds that had halted the growth, and even the closure of notable Nigerian businesses.
She revealed that many African businesses failed to leverage digital technology and tools to scale their organizations. “Yet, they had all it took to learn and adapt to the evolution of the digital age in the 21st-century marketplace. The global market is experiencing tremendous changes as the customer’s needs, and the user journey is continually evolving with more clarity of the desired need and outcome.
“This poses a considerable amount of challenge to startups or SME’s that is faced with the challenge of how to adopt and adapt to the Agile culture, to enhance the digital transformation that influences product development and delivery using a design thinking approach for survival in the developing market.”
According to her, organizations that are driven by the Agile way of working, and also infuse data analysis in their operations, management, and entire workforce will ultimately achieve more productivity, and increased performance through collaboration, which ultimately relies on building human capacity and mind-set change.
She informed that agility, digital trend, and expertise are revolutionising business outcomes, “and it is the major building block that accelerates your organisation growth, and it is imperative to explore digital career advancement in Agile, Data analysis (Power BI), Digital Marketing, GDPR & NDPR regulations and compliance, and Project Management Office.”
The Learntor CEO further revealed that experts’ reports showed that 55 per cent of startups with digital business strategy in their operations achieve profitability faster than others without.
According to her, from the digital training organized, data gathered from the 658 participants showed that 92 per cent do not have a website, 86 per cent are active on LinkedIn, and 50 per cent are interested in the digital career development within the age range of 26 to 35 years, 67 per cent of whom are men.
Furthermore, she revealed that 34 per cent are employees, 25.5 per cent are unemployed, 25 per cent are entrepreneurs, and 15 per cent are employers, while only 13 per cent are students with huge interest in data analysis (Business Intelligence).
George-Igbafe said there is a need for Africans to up skill, to achieve a competitive edge equipped with the necessary digital skills.
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