Tuesday, August 21, 2012

Mobile and Mobility

When Steve Jobs saw multi-touch technology, his first reaction was, "My God, this could be a phone." He didn't design the technology. He just recognized that a multi-touch screen could create an infinite number of user interfaces for an infinite number of applications. That realization inspired him to create the Iphone
Mobile business will soon become big business, while mobile is the infrastructure, mobility is the device.
At the end of 2011, there were one billion smartphone subscriptions activated worldwide from a total of over six billion phone subscription and the market was growing at 37% annually. Tablet computers are coming into market even faster than smartphones did, and are predicted to overtake laptop sales.
1. As an enterpreneur how would you take advantage?
2.As a  business, what is your apettite towards risk and innovation?

Africa now has twice as many mobile phones as America, In Africa SMS technology helps farmers pay bills and also helps the banks alert their customers of transactions. In America, it helps teenagers keep up with their friends. 

China  has surpassed the US as the world's dominant smartphone market with over a billion subscribers and roughly 400 million mobile web users. India, Middle East and Europe also have widespread smartphone adoption.

For the Business, the questions are;

How do your leaders turn great invention into business innovation that will generate organic revenue growth?.

How can you adapt management systems that are used to managing short-term performance to become capable of supporting innovation?

How can you scale new businesses within corporations that are organized to support only one mature, core business?

In the 1990s, Lou Gerstner, IBM's CEO coined a concept known as Emerging Business Opportunity (EBO) after he noticed that the company wasn't capitalizing on new technologies and markets as well as it could be.

The fundamentals of EBO are:

Dedicated Leadership: Previously, younger, less-experienced leaders were put in charge of EBOs to avoid stero type thinking. This didn't work well. Younger managers often lacked the networks needed to nurture an embryonic business within the larger company.

Critical Milestones: This is key in making sure the EBO is moving in the direction and at the rate the company needs. Milestones are not necessarily tied to financial metrics and are reviewed in monthly meetings.

Quick to Market: Speed is essential. If an EBO isn't meeting its milestones, it needs to be stopped, or morphed into something else that will. Get the idea to market quickly, experiment, learn, and either iterate or stop the venture.

For the Enterpreneur, the questions are;

Are you thinking too small? - just want to make enough money to provide for your family, buy a car, or earn your freedom.

Is this attitude driving you to create something less interesting?- instead of building the next Google or Microsoft

When an entrepreneur eventually decides to start a business, there are several important tasks at the top of his list; writing a business plan, choosing a name, obtaining financing, building a website and obsess with over perfecting the product or service.

Too often, marketing is far down this list of priorities which deserves to be much higher: Making the company's first sale is very critical to the success of any business.

An interviews and survey was done with founders of 120 startup businesses in China, Kenya, Mexico, Nigeria, UK, and United States. The focus was: How, when, and why did you make your first sales, and looking back on that process, what do you wish you'd done differently?

The fundamental lessons are:

Start your Sales early: cut development time and get better understanding of key customer objections before sinking huge funds into product development

Choose a Strategic buyer:  based on the customers' ability to provide important usage data, references to a next set of customers, or credibility and reputation of the buyer
Avoid Discount: Doing so can set a pattern, diminish the long-term value of a product or service and hurt cash flow.

Let me know if you have a product or service you want us to display on this plaform, perhaps, we could also crowdsource for funds. (service@scrollsolutions.com)