In the current digital age, the role of a CEO has undergone a transformation. The success of a company is now directly linked to its digital strategy and the CEO’s ability to drive it. In this blog, we’ll take a look at five successful digital CEOs and the lessons we can learn from them.
Satya Nadella,
Microsoft Satya Nadella took over as CEO of Microsoft in 2014 and has since led the company to new heights. He recognized the need to shift Microsoft’s focus from a Windows-centric company to a cloud-first, mobile-first one. He also embraced open-source technology and turned Microsoft into one of the biggest contributors to open-source projects. Nadella’s leadership has enabled Microsoft to become one of the world’s most valuable companies.
Lesson: Embrace change and adapt to the needs of the market. Be open to new technologies and ideas, and be willing to take risks.
Jeff Bezos,
Amazon Jeff Bezos is one of the most successful digital CEOs of all time, having transformed Amazon from a simple online bookstore to one of the world’s largest e-commerce platforms. He has always been customer-centric and has focused on providing exceptional customer experiences. Bezos has also made strategic investments in new technologies such as artificial intelligence and voice assistants, ensuring Amazon stays ahead of the competition.
Lesson: Always put your customers first and invest in new technologies that can give you a competitive edge.
Reed Hastings,
Netflix Reed Hastings is the co-founder and CEO of Netflix, which has revolutionized the way we consume entertainment. Hastings recognized early on that streaming would become the future of television and invested in building a streaming platform. He also invested in producing original content, which has given Netflix a unique selling point.
Lesson: Identify emerging trends and invest in them early. Always be looking for ways to differentiate yourself from the competition.
Mark Zuckerberg,
Facebook Mark Zuckerberg is the co-founder and CEO of Facebook, which has become the world’s largest social media platform. He has always been focused on the user experience and has made it his mission to connect people around the world. Zuckerberg has also made strategic acquisitions such as Instagram and WhatsApp, which have helped Facebook stay relevant.
Lesson: Focus on the user experience and be open to strategic acquisitions that can help your company grow.
Sundar Pichai,
Google Sundar Pichai took over as CEO of Google in 2015 and has since led the company to new heights. He has been instrumental in expanding Google’s product offerings and has invested heavily in artificial intelligence and machine learning. Pichai has also been committed to making Google’s products more accessible and has expanded Google’s presence in emerging markets.
Lesson: Focus on innovation and invest in emerging technologies. Always be looking for ways to make your products more accessible to a wider audience.
In conclusion, these five successful digital CEOs have taught us some valuable lessons. They have shown us the importance of embracing change, being customer-centric, investing in emerging technologies, and always looking for ways to differentiate yourself from the competition. By following these lessons, we can become successful digital CEOs ourselves.
You must encounter at least 7 things about entrepreneurship before you can master it. But do not be daunted because there are several ways to learn these things, either online or from a mentor or an expert. As you gain experience in areas of business, you will eventually be able to apply it to your own venture. Here are seven things about entrepreneurship that you need to experience yourself. Read on.
1. Experience it with others.
you need to observe entrepreneurship from the people who have already experienced it.
You need to ask them questions like, how did they get into it? What were their business goals? What were the unexpected challenges they faced?
In the business world, there are plenty of opportunities for entrepreneurial leaders and they come from all sorts of backgrounds and experiences. You need to ask people who have been successful about the things they learned from their experiences. They might be willing to share the experience with you so you can benefit from it.
2. Get into the mindset of an entrepreneur.
As mentioned earlier, there are several types of people who are successful in entrepreneurship. You need to identify your own type of entrepreneur. There are creativity, technology, international relations, sales, and advertising among other things.
3. Dont just dream about it , do something. – Learn Your Lessons.
if you are not already an entrepreneur, you need to become one. You can be an entrepreneur even without having your own business. This is because you can apply some of the basic principles of entrepreneurship to your own business. You just need to take some classes or attend seminars on how to be an entrepreneur.
4. Its ok to start small
you should have your own business. Most importantly when you are done taking the classes and attending the classes it’s time to test your wings no matter how small it is start it with whatever you have and be committed to it to reach your vision.
This is a crucial thing. You can make money easily through your business. You should start a small business and expand it. There are several opportunities for you in the business world.
5. Be passionate about your vision and the change you want to create.
You may be an entrepreneur if you have a particular skill or expertise. It does not matter what kind of skill you have. However, you have to identify the area that you can add to the business so that you can be competitive. Once you know the areas that you can add to the business, you will be able to make your business more attractive to people.
You need to be passionate about entrepreneurship. This is a very important trait to have. You should have a burning desire to be successful in business. You need to have the motivation and determination to excel in entrepreneurship. You can use your skills, talents, education, and resources to be successful in your venture. Other people will also be attracted to you once you show your passion for entrepreneurship.
6. Be prepared and proactive.
Being proactive means that you are always ready for new innovations in the market. You need to explore new things. Inventiveness and flexibility are also essential in being an entrepreneur. Other things that you have to do include creating policies, plans, strategies, and systems to ensure that the business runs smoothly. You need to have confidence on your abilities and be realistic.
7. Learn to communicate well with people.
Being an entrepreneur is not only about running a business. You need to be able to deal with people as well. This is why you need to understand your personality so that you will not offend or annoy people too often.
Bonus Tip : Be aware of how to budget his or her resources
so that he or she does not run out of money in his or her business venture. Most people underestimate the importance of budgeting. As an entrepreneur, you have to make sure that you do not go into debt. If you have any way of supplementing your income, you should do that.
These are just some of the things about entrepreneurship that you need to know yourself. You should never underestimate the importance of having these skills. Having them will make your life much easier because you will never face any financial difficulty. If you want to become an entrepreneur, make sure that you are equipped with these things. You will definitely enjoy being one.
Being an entrepreneur is hard and what if you are not in a relationship ? and want to get into one? So Today here, you will see how being single and not getting into a relationship can really help you be a better entrepreneur.
1. You have all the time for yourself
Any relationship is a responsibility and needs constant effort and attention, but when you are single, you can give that attention to yourself.
You can work on your habits and goals
You can focus on your health and fitness
You don’t have to waste time Canceling your business plans for meeting your GF/BF.
Finally, you can make time to improve the overall quality of your life when you are single.
2. You don’t have to pay for unnecessary meetings & stuff
You save a lot of money
Especially guys, because most girls expect to pay for the food, their shopping, and other stuff.
And Of course, there are some girls who overspend for their boyfriend.
whatever it is as an entrepreneur you must always be conscious of your spending habits even when if you are in a relationship.
Let’s agree, we have seen people who are abusive and toxic in their relationships.
The abuse doesn’t even have to be physical it can also be verbal, emotional, or even contently rejecting your thoughts, ideas, and opinions.
Always hitting on our self-respect, making you doubt your own feelings and thought, and even your sanity
If we are in such a relationship and if we are the victim and you try to get ahead in your career? Damn! That’s tough
As entrepreneurs, we need a partner who understands and stands with us in life’s ups and downs, and it’s better if we do not have a person in our life who drains our energy constantly.
4. You Can Focus On Your Business Totally
As discussed earlier we need to give a relationship a lot of time and effort and as an entrepreneur especially in the beginning of your career you cant afford to spend that time with others when you have a dream to grow your career.
Focusing on your career mono directionally and working 70 to 100 hours a week can help you achieve a lot faster and better.
5. You Can Become Self-Reliant/ Independent
You can stop relying on your parents and if possible support them financially in return.
if you’re always agreeing with people, you’re following them.
When you are single you make your own decisions.
You don’t even have to rely emotionally on your partner. But Remember you are never isolated. You’re always in a world surrounded by other people, and it’s important to be compassionate to those around you. Just because you’re independent doesn’t make you an automatic CEO, nor will you be treated as one. Know your role.
6. You Will Understand The Meaning Of Self Love
Self-love means taking care of your own needs and not sacrificing your well-being to please others.
It is a state of appreciating ourselves by taking care our physical, psychological and spiritual growth
Accepting ourselves with the good, the bad, the ugly, the sexy, and the smelly—all of it.
Not rehashing our past mistakes and dragging ourselves to a dark place when we know that we can only learn from the past; we can’t change it.
Remember : If we cant love ourselves we can never love others.
7. You Have The Freedom To Pursue Your Passion
Pursuing our passions as a living, we can have the opportunity to be our own boss which gives us professional freedom such as choosing who we want to work with, making our own schedule
Freedom is the choice to do what is right. And you are free to find out what that means on your own time.
Entrepreneurial freedom is about so much more than escaping the same old, same old of the working day.
It’s about being the master of your own destiny and reaping the rewards of your own endeavors.
However, when you find the one , things will happen that you can’t even control, but don’t just jump in to a relationship until you are ready for it, focus on your career and and never give up on your dreams.
Find a partner who will be a support in your career than someone who kills it.
Comment below – Are you single or are you in a relationship ? & did you know anyone who is in a abusive relationship ? *
When we get started with something maybe we will face a block maybe we see a brick wall and we can’t do anything about it maybe there is some shift in the market and maybe something which we can’t control, these things always happen in business and most people just quit or they just try to do something else.
What should we do when something wrong happens in your business? How should you take a pivot? When you should take a pivot and when you should not that is what we are going to discuss here :
When & How To Pivot? – Changing Business Model
1. No Market Need
If you have created this service or product or if you have this offer and there is no market need, even after creating this product and no one is really interested in your product, that’s obviously a huge sign that you need to make the shift and you need to take a pivot as soon as possible.
Because if this continues you cant have sales and you cant grow.
2. Too Much Competition
When there is way too much competition, having little competition is really good but when there is this huge competition, you cant compete with them, there is so much competitive barrier they might have created, that even though you want to do it, there will be some huge capital you want, I think you have seen such businesses. They will create this monopoly and it will not seem like a monopoly, but they create this kind of competitive environment and no one except them can be in that business. So if you are in this arena and if you want to copy their business model, I think you have to say goodbye to your business career.
3. Find Offers and Solutions
What you should do is try to create an innovation , try to create an offer by solving an actual problem in your industry , you need o observe do research and integrate these solutions to your new business model , we will discuss how to do it in an other article for now continue on when to pivot.
4. Black Swan Events
No matter we believe it or not history had given us evidence that at least every 10 years or every 100 years there will be a major black swan event happens. At the time of this writing, we are going through covid-19, An unexpected change in the world. So when these events happen, you have no other choice other than to pivot and getting ready for the future.
When Not To Pivot?
Working Existing Offers
When your existing offers are doing great , you may not pivot but instead you can try and test new products.
You Feel Like – (No Logic)
This is a really dangerous trap where people will say you to listen to your heart but when you feel like pivoting without analyzing market data along with the existing business model you might re-think your decision. – Be Logical
If you are still confused about your business and you might need some advice crafted exactly for you.
I had made a ton of mistakes ahead before I wrote this article and yes I know what I’m talking about because I have been through many situations and people who aren’t the right partner for my businesses and they cost me so much time and resources, but because of all those lessons I am in a situation to warn someone like you who may be dreaming about the future to make it bright with the startup you are going to start, Just take a look and select your partner very cautiously because a business partner is a person whom you spend most of your time working day in and dayout.
So here are the things you need to look at :
1. Complimentary Skill Sets
Your partner should be good at something that can contribute to your business, you can’t select a person just because they are your friends, but that was the mistake I made and I don’t want you to make the same mistake. Get to know about the ways they can contribute to the business and how can they compliment the skill you lack and select your business partner based on that.
2. Shared Goals, Values, and Morals
You will enjoy working with your partner when they share your goals for the business you both are building when the values, morals, and goals align with you that will create an unbreakable bond and this can be a trust-building factor.
3. Able and willing to work hard or Invest Money
As you work for your business to make it get off the ground your partner should be willing to work his ass off, if you find your partner delegating most of their work to you they are not a right fit, to get to know this try working on a project other than a business and see if he is supporting you with the work or are you the one who is always doing the donkeys work ? Your business partner should be willing to work hard and in any case, he can’t work, he should invest a ton of money to support the operations so that you can hire someone to get the work done. In each case, he must be willing to contribute in every possible way he can, but please don’t choose a partner just for the sake of money.
4. Must have Integrity
When your partner says that something will happen and he promised that he will deliver it he will get it done no matter what period, because his word is bond and he considers integrity as his identity so as you, In business when you don’t have integrity you will lose your credibility and that will affect you in the long run.
5. Easy to communicate
You both should have a flow of conversation not only when you both discuss and plan but even when you both face hardships it is important to have communication and stay strong by supporting each other.
6. Trustworthy
Trust is a thing that cannot be built in a day or two, it takes years to build and as you see a person for years you will know what they really are and with their actions and ability to get things done trust builds. So, when you select your business partners you need to see if their character and behavior are trustworthy because you are going to rely on them for many things in the coming future.
7. Worked on a project before with you or you have known their work in prior
So when you are selecting or in search of a good business partner try finding people whom you have worked with already, if you couldn’t find one, just look at some new people and look at their prior work, but above all what is most important is their character and passion towards the vision.
8. A good problem solver
A person who has a zeal to solve problems instead of taking advantage of you by putting you into a problem is always a good asset to you and your business, I have seen many snakes with smiling faces who just want to use you and your resources by offering help that never comes, beware of such people and find the one who will be a good match.
There are many aspects that can affect a business, I wish I would have known all these when I have started my entrepreneurial journey, I have made many mistakes along the way. I hope this article will help many entrepreneurs to grow their businesses by avoiding these mistakes.
Here are the most common mistakes that I see business owners make that kicked them out of their business:
NOTE: I have included an infographic at the end feel free to download it if you are not interested to read the complete article.
1. Having online presence
If you started a business and struggling with sales or you want to grow your existing business and you don’t have an online presence that is a serious sign that you are not going on the right path in the 21st century.
As a business owner by now, you need to know that you must have at least these following :
A Website with the domain name of your business
SEO (search engine optimization), SEM (Search engine marketing)
Social media pages – (Facebook, Instagram, Twitter Etc.. ) posting consistently
Analytics for all your online marketing.
There are much more things you can do to have a strong online presence but these are the minimum necessities to sustain in the long run.
If you think you don’t have enough time to post regularly or maintain all these as a business owner hire a freelancer or if you have too much work to do and if you think long term, contacting a marketing agency likeThibstas Mediacan help.
2. Forming systems
You might have all the time in the world to run every part of your business as you start your business as a solopreneur, and when you have more clients at hand you must admit that you can’t be everywhere and manage everything as the business grows you need to learn to delegate to save your time and to do the tasks only you can do.
Forming systems not only save valuable time, it even helps you to focus on what is important for you to grow your business.
3. Knowing how to sell as an owner or founder
Sales is the only place where the money comes in business and being a founder you need to know how to sell to survive in this highly competitive environment, you might be thinking, I’m having a lot of experience in my field of expertise, but being a business owner you must learn how to wear different hats when it needs, to survive. Sales are the oxygen for business the main reason for any business to shut down is, not having enough sales, you better know it.
If you are already tied up with many things to do at hand its time for you to hire sales team or you can even hire an external agency to manage all your sales activities.
4. Reading people
Ask any business owner what is the most difficult task in your business and most of them will say it is directly or indirectly related to people.
The people whom you take into your group are important, you may have amazing ideas but if you are not good at reading people through, you are really going to have a hard time doing business.
One of the major causes for a business to fail is not knowing how to deal with people and you should understand people who are coming to your business every day.
An entire book can be written on this subject, see people as they are and never judge them, even if you think you know them, trust me there are a million things we don’t know about people we are with, even for a long time.
“Listen what they say and see what they do, people can say anything but deeds don’t lie”.
5. Managing focus
Focusing on, what is really important and staying away from all the distractions that eat up our day is very vital, being busy is not productive in any business.
Where Focus Goes Energy Flows
“Focus is the strategic allocation of resources that is of most value, in a startup, resources are very low and your focus determines your success”.
Daniel Goldman, the author of Focus, said it best:
“A failure to focus inward leaves you rudder-less, a failure to focus on others renders you clueless, and a failure to focus outward may leave you blindsided.”
Focus management is the critical skill to survive in our day, the only difference between time management and focus management is :
Time management is like the vehicle that you drive, and yes you want to have an excellent, high performing car. Focus management is how well you drive that car, your ability to make good choices and get yourself to the destination that you want to reach.
6. Collaboration
No matter how good you think you are you can’t do everything yourself even with your strong team sometimes, you might need a stronger or equal companion as a strategic alliance along the way so that you can merge both of your strengths and help each other, so that it will bring some greater results, for that you must constantly look for opportunities to work with people who are smarter and stronger than you. Networking in events and in other social media sites have helped me a lot, you can try it too just keep in your mind don’t spam people.
According to Merriam-Webster Dictionary, collaboration is defined as working with another person or group in order to achieve or do something.
Key Fundamentals for collaboration:
Setting clear goals.
communicating these goals effectively with all members of the group.
Working together in order to accomplish the goals.Having groups spend some time up front to define, plan and outline a clear set of goals can be a critical step in creating a high-quality final product.
It’s also important to be able to identify the strengths of the collaborators and to clearly define roles and expectations.
7. Innovating constantly as an entrepreneur
Innovation typically happens in a cycle of discovering, developing, and delivering. And most importantly it typically iterates through this cycle as the team learns and gets feedback on what they deliver.
One of my favorite quotes about innovation comes from Harold McAlindon, who said,
“The world leaders in innovation and creativity will also be the world leaders in everything else.”
Actions that lead to better innovation:
Experimenting with options and learning what’s valuable from them.
using highly collaborative techniques like visuals and brainstorming to get fierce conversations going on the team.
challenging how the team thinks about the future, keeping the vision top of mind
8. Managing Finances
The risk in business is measured in financial loss, people tend to get in a situation in which they are completely uncontrollable when it comes to issues related to money
One of the most common reasons startups fail is because they mismanaged the funds they had.
Being an entrepreneur I know it is extremely important to take risks that can help me grow when I say risk here, I don’t mean walking in heavy traffic blindfolded, taking risk is quite a lot used in business world now, risk doesnt have to be do it or die scenario you can always take caluculated risks by knowing what you may lose in the first place and that loss will be mostly measured in money, for this risk management, managing your finances so that you will be in a position to win the game of entrepreneurship and you can keep the cash coming in to yor business.
These are some of the things you can do to manage your finances :
Know What You Have –
You should be able to look to your finances and instantly pinpoint exactly how much money you have available.
A Budget for Each Department –
How you allocate the budget for each department is up to you.The point is you should immediately know where your money is going and what it’s being spent on. Every so often, review the performance of each department and consider whether you need to start allocating your money elsewhere.
Be Willing to Scale Up and Down
The art of managing your finances wisely is to be able to scale up and scale down according to your financial fortunes. Too many young entrepreneurs fall victim to either trying to spend everything they have or being overly conservative.
Create a Savings Fund
You need to be able to save for a rainy day. Unlike established companies, startups and small businesses often find themselves unable to do this because they need to have all the money available right now. This leaves them vulnerable because if they experience a downturn in the market they are going to run into a situation where they have no reserves to work with.A savings fund is an example of good financial management because it will help you to get through the times where you have to run at a loss.
Stay Fluid as an entrepreneur
The most important tip of all is to stay fluid. Your financial policy needs to change according to the times. There are no rigid rules you have to stick to. If the market warrants you have to spend more, so be it. If the market warrants you have to save more, so be it.
So, what are the other things if a business person doesn’t know can put him/her out of the business, Comment Below.
Download the infographic below for future reference :
If you are truly willing to win the long game finding your niche and sticking to it will yield great outputs, you find all the businesses around us are frequently looking to diversify and this may inspire you to do the same but it will cause more harm than the good it does.
Yes… yes… diversification is good but it has some limitations and rules to follow if you are just starting your business or half way and want to diversify you may lose out very important details that will kill your quality in the process. You can easily diversify and dominate the market once you have the strong base in your targeted niche market.
SO, WHAT IS NICHE?
in our case, in the business perspective “NICHE” is a marketplace.
For example, when we talk about Home appliances industry we can consider laundry, is a niche and it is specific to one particular area in the market.
WHY FIND A NICHE?
There are many advantages if you can find a niche of your own and go all into it.
Finding your niche makes marketing and innovation easier.
It gives you a sense clear direction and you can focus on what matter most in the early days.
It presents you a great opportunity to find what your audience/ customers really need.
Keeping it small by thinking big will save enormous resources such as time, energy and money.
You will have a competitive advantage by understanding your ideal customer.
You take calculated risks with this approach.
HOW TO FIND YOUR NICHE?
Now we know what is niche and why it is important for us, let us discuss how can we find or create niche markets.
VERIFY: WHO ARE YOU?
Knowing who you really are as a human being can help you to know what can you do and what you will stand for in life.
“To know thyself is the beginning of wisdom” — Socrates
List out all your strengths, weaknesses, limitations, hobbies, interests, what and who you love, what drives you, what are you passionate about, what are the things you care the most think about everything why you do what you do and try to become much aware of yourself.
ANALYSE YOUR PROBLEMS.
Write down the problems you face financially, emotionally, physically, love life and; other everyday challenges.
LOOK AROUND.
Observe your surroundings, do you find any problem which most people face even if it a small problem, Find as many as you can, write down all of them.
“To acquire knowledge, one must study; but to acquire wisdom, one must observe”. –Marilyn Vos Savant
DEFINE THE INDUSTRY.
With all the details you wrote down about who you are and what problems you have and all the problems you have observed around you.
Select the problems you would love to solve in the list that will match your interests, expertise, and problems you face and observe.
DEFINE AN IDEAL CUSTOMER.
When you found the problem you want to solve, you need to find your audience that can get help with your solution, defining an ideal customer is not something you will sit in a room and plan, you need to get out there and ask people what would be better if you can bring a minimum viable offer.
Test your solution with the audience and that will help you iterate your product or service.
SELECT THE NICHE.
This is the most important part where you select an entry point in the industry and start selling your offers. select 3 best ideas with a good solution and see which has the most demand and what can be sustainable and select the part of the market as your niche.
Case Study :
Amazon :
Jeff Bezos founded Amazon.com in 1994 and launched it online in 1995. The company began as an online bookstore named “Cadabra.com”, a name quickly abandoned for sounding like “cadaver”; while the largest brick-and-mortar bookstores and mail-order catalogs for books might offer 200,000 titles, an online bookstore could offer more. Bezos renamed the company “Amazon” after the world’s biggest river. Amazon.com soon diversified to product lines of VHS, DVD, music CDs, MP3 format, computer software, video games, electronics, apparel, furniture, food, toys, etc. Amazon has established separate websites in Canada, the United Kingdom, Germany, France, China, and Japan. It also provides global shipping to certain countries for some of its products.
Since 2000, Amazon’s logotype is an arrow leading from A to Z, representing the desire to sell many products.
TAKE AWAY FROM THE STUDY:
It is always good to find small niche markets and own them before you plan to diversify.
There are many awesome wallpapers out there about nature, cars or bikes , quotes about love, life etc.. but these are the screen savers which are helpful to stay motivated in or at my work, and when ever I grab my smartphone it is like BOOM !!! a wake-up call to get back to work or like a reminder to focus on what is actually important , this blog post will be constantly updated with new screen savers , as i created them for my use, hope they will help you too. if you need some constant updates about on entrepreneurship & what I do.