Maximus Ametorgoh, the CEO of Popout, spoke bout the ‘The Key Elements of the Digital Economy.’
His presentation on the Citi Business Festival on-air series on Friday, June 3, 2022, highlighted some things to consider to be able to thrive in the digital economy.
Try to stay ahead of digital trends
Mr. Ametorgoh stressed that tech doesn’t need our permission to progress, so businesses have to work to stay ahead of it.
“So long as innovation is happening, your job is on the line. People become jobless. That is going to happen. That is obvious. Technology is advancing, so we are not going to use brick and mortar again.”
Stay relevant by improving your digital skills
Linked to the above point, Mr. Ametorgoh said employees need to build on their business skills to stay relevant.
People with strong digital skills tend to be valued more in businesses, he noted. For example, an accountant will need to be conversant with trends in accounting and payroll software, etc.
“If the company is going to sack people, they will look at digital skills first, before traditional skills,” Mr. Ametorgoh said.
Use technology to build on traditional skills
Mr. Ametorgoh highlighted the importance of graduating from traditional thinking into thinking for the digital space.
To do this, businesses will need to complement skills that have been learned a decade ago with skills that can leverage the digital space.
“With your traditional skills, you can use technology to give it more economic value,” he said.
Treat social media like capital for your business
Mr. Ametorgoh is certain, “the future of work requires digital skills.”
This is generally a net positive for young businesses, especially, he noted, which can leverage digital tools, like social media, to bolster their work.
“If you are waiting for capital to start your business, Facebook is there,” he noted.
Citing people who are able to expand their reach, as an example, he said small businesses can now scale quickly at a very low cost because of the opportunities the digital space provides.
Pay attention to the stream of feedback online
Moderation is key when faced with a constant stream of feedback because of the communication lines provided by digital tools.
“Businesses must have a real-time eye on their business and monitor customer engagement,” Mr. Amertogoh said.
It is important to take action on all kinds of feedback, whether it is a customer suggestion or a malicious remark from a bot.
Listen to his full presentation here:
ABSA Bank is the main sponsor of the Citi Business Festival 2022 with support from MTN Momo and MTN Business Support, Ghana Investment Promotion Centre (GIPC) and IT Consortium.