By Stellamaris Ashinze
Lagos, Sept. 29, 2020 Zoho Corporation says there is the need for a long-term approach to business sustainability to avoid struggling to remain relevant in time to come.
Mr Andrew Bourne, Region Manager, Africa, Zoho Corporation said this in a statement on Tuesday.
Bourne said that any business, no matter how big its initial success, needs to take a long-term approach if it is to avoid being one of history’s almost-rans adding that this applies to every aspect of the business, including, people, products, and customers.
He said that business success is perceived differently today because buzzwords like maximisation, venture-backed, growth hacking, and well-conceived exit strategies (like IPOs or acquisitions) define I entrepreneurial success in the current age.
According to him, In a mad rush to show high quarter-on-quarter growth rates, corporate leaders have forgotten that the true value of a business is how long it stays relevant in the market.
The regional manager said that and instead corporate leaders focus solely on transient growth spurts even if they cost profits.
‘’When you are a new company working on developing deep tech, discovering talent and retaining them is a challenge.
‘’ Try to create and slowly nurture a pool of capable workers who will gain domain expertise over time.
‘’ At Zoho, in order to sustain our long-term Research and Development efforts, we initially kept the teams small and worked with people who were committed to learn and understand the domain.
‘’Patience is the key when you cultivate talent in-house as people refine their skills and gain deeper domain knowledge, they gradually bring their learning to the business and build a solid offering that will stand the test of time,’’ he said.
According to him, ultimately, it is the culture of experimental learning that you build which keeps you going and also motivates people to stick around for the long haul.
Bourne said that equally important is to take a long-term approach to ones product one might be selling something simple today but you need to be able to build on that.
He said take Amazon for example, It started out selling books and gradually built out to become a trillion-dollar company.
The regional manager said that Amazon was not just focused on e-commerce either Amazon Web Services (AWS), its cloud-computing division, keeps more than 40 per cent internet up and running.
He said that the lesson here is that long-term thinking is not just about having a product plan and sticking to it. It’s also about adapting to any future opportunities that present themselves.
Bourne said that whatever sector one operates in today, it would see disruptions sooner or later.
He said if you can adapt to those changes, or find new opportunities in other sectors, you will be better placed for continued success than your competitors.
‘’Taking this long-term approach might feel overwhelming initially, but it’s much more likely to pay off than simply trying to survive from quarter to quarter. After all true success is built over time.’’
Naija247news, reports that Zoho Corporation has over 45 applications in different categories.