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Category: Management

  • Startup with flair

    Startup with flair

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    Every great product begins with an idea—even while the world waits in lockdown. In fact, some of history’s best masterpieces stemmed from periods of isolation, like Sir Isaac Newton’s Theory of Gravity or Victor Hugo’s Les Misérables.

    Whether you’re fulfilling a lifelong dream or simply seeking a new income stream, there are ways to get your groundbreaking tech idea to the market today.

    Do your planning & research

    The first step of software or web development is to appraise the idea itself. Most successful start-ups begin as answers to urgent consumer concerns. They also usually change the way things are done and are therefore called disruptive technologies. To be considered, your tech idea should, therefore, help resolve a relevant problem.

    If you are not solving a pressing need, the fanciest invention or service (even with a solid marketing and financial plan) will fail to appeal to your target market. It will also not catch the eye of potential funders.

    Many startups fail because visionaries fail to elucidate their idea to the people that can make it a reality.

    Next, you should analyze the possible competition. With millions of Apps, DApps, and software developments out there, someone might have already created the same thing. If that’s the case, you could see how your product improves upon its predecessors. It might be a good idea to get your work patented or copyrighted. Likewise, you might want to check to see if the idea has not already been patented.

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    Of course, transforming this amazing tech idea into reality involves a LOT of planning, too. That’s why you should research and map out an approximate timeline, possible tech builders (if you can’t DIY the work), related APIs, and most importantly, a budget.

    Some software developers may offer to partner with you – as your startup’s CTO. This could be for an equity/share in the venture or to provide a discount on the work done. This is a good option if you are still early in the fundraising phase.

    Finding the funds

    If you don’t have the money to get your idea off the ground, not to worry! There are plenty of other ways to find the funds, such as angel investors, banks, or crowdfunding sites.

    While some people rely on traditional loans from banks, others prefer to apply for grants from the government. There are also pages like GoFundMe and Kickstarter, where you can post your idea and crowdfund from private individuals around the world.

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    For example, Palmer Luckey, founder of Oculus (a virtual reality headset), raised over $2 million using Kickstarter to begin his business. If you instead opt for an angel investor, an individual willing to invest a large sum into budding businesses, studies show that your business is more likely to succeed.

    Another form of assistance is to go through a startup incubator. You might want to look up the best ones in your country – but as ideas are not limited geographically – you can join any of the top incubators in the world.

    Test & distribute

    Finally, after proper planning and fundraising, you can execute and test out your brilliant tech idea. As AOL Founder, Steve Case, once said, “You shouldn’t focus on why you can’t do something, which is what most people do. You should focus on why perhaps you can and be one of the exceptions.” 

    This stage will also include a working prototype and a few open sessions or what is referred to in tech terms as ‘Beta-testings’. You can collect more insights from potential users to make your product stand out from others – preferably before you launch it.

    There are many online tools to help you in this phase. Most of them offer free trials, so you can get away with using them just for the test period.

    Covid-19 is no excuse not to launch a good venture provided it serves a pressing need as mentioned. In fact, projects that address the pandemic directly will indefinitely get preferential treatment when it comes to funding and support.

  • The latest cloud computing trends in 2019

    The latest cloud computing trends in 2019

    It’s 2019, and the Cloud is everywhere—from the apps we use every day to the infrastructure of global tech giants.

    According to researchers at Gartner, revenue generated from public cloud services is projected to grow 17.5 percent in 2019. This amounts to a total of $214.3 billion, up from $182.4 billion in 2018.

    More than a third of organizations surveyed by Gartner saw cloud investments as a top three investment priority. With this kind of growth, tech organizations are racing to get on board with cloud-only software and platforms.

    Here are some of the trends to look out for this year:

    Hybrid Cloud, Multi-Cloud and Mergers

    IBM announced its purchase of Red Hat last October, calling it the “most significant tech acquisition of 2018.” This combined Red Hat’s extensive network of open-source clouds with IBM’s Hybrid Cloud team.

    Mergers like these are likely to become a trend this year, as companies see the benefit of using multiple clouds across all sectors of their organization.

    Furthermore, this system will dominate in the future, as businesses find public clouds inadequate to meet every one of their requirements.

    As a more flexible and functional solution, many organizations will shift to a network of multiple private, public and hybrid clouds in the future.

    Serverless Cloud

    Serverless computing is a young market in technology, but it will continue growing in 2019. It isn’t actually “serverless.” Instead, it is a cloud-computing model in which the cloud provider itself runs the server on a dynamic, as-used basis (FaaS).

    Rather than buying server space, developers can use a back-end cloud service to code. They will only then pay for the server space they actually use.

    As this relatively new technology develops, we can expect to see more companies providing and expanding their “serverless” offerings.

    Artificial Intelligence

    Although cloud technologies are growing exponentially, artificial intelligence (AI) could prove an even greater economic driving force. According to Accenture, the impact of AI could double economic growth rates by 2035 in developed countries. 

    Around 80 percent of large companies have adopted some form of AI, according to the Harvard Business Review.

    Amazon, Twilio and Nvidia, to name a few, are thus, incorporating AI with cloud computing, next-gen GPUs and the Internet of Things (IoT). This has led to the developing of applications with “smart assistants,” and voice-to-text technologies.

    Such a combination of AI and the cloud provides an extremely powerful and unconstrained computing network.

    Security

    Digital transformation is already underway, with Gartner also projecting that 83 percent of all workloads will shift to the cloud by 2020. However, this movement presents issues of cybersecurity.

    Many businesses have not properly secured their cloud-stored data. For example, marketing and data aggregation firm Exactis left around 340 million records exposed on its cloud servers. This was uncovered in a data breach last year.

    Mitigating factors

    The implementation of the General Data Practice Regulations (GDPR) makes this even trickier. It affects cloud security, and IT companies will likely struggle to comply with these new laws while protecting sensitive information.

    Cloud computing services are progressing exponentially, as are their new developments. The year 2019 will surely be filled with businesses pouring investment into enterprise solutions. This while expanding, securing, and implementing cloud technologies to their fullest extent.

    Bridget is a freelance writer and editor, and the founder of Lost Bridge Blog, where she writes about traveling as a Millennial woman on a budget. When not writing, you can find her traveling, drinking inhuman amounts of caffeine and scrolling through the latest tech & political news.
    N26 Bank
  • Sell easily with the aid of smart tech

    Sell easily with the aid of smart tech

    Practical online software can – without a shadow of a doubt – help your business (large enterprise or Start-up) get on top of its operations.

    The most common operational tasks most of us use are sales and customer support. Though very important they cannot, however, be used in isolation to other business processes.

    There are also other ‘bits’ and ‘bobs’ that can be built-in or integrated to ensure that your business processes are fully automated. And automation saves you time and therefore, money!

    Core operations that a good ERP can manage for your business are not limited to the following:

    • Sales (the lifeblood of your business)
    • Customer Support (now extended to Customer Engagement)
    • Accounting and Finance (all your banking, invoicing, payments and taxation)
    • Supply chain and logistics management (Cataloguing, Inventory, stock management, warehousing, storage and deliveries)
    • Retail (B2B, eCommerce, Point of Sales)
    • Human Resources (Staffing, holiday bookings, Salaries and wages, recruitment).
    • Marketing (Branding, campaign management, targeted ads etc.)

    Can you imagine these have been in use since the industrial revolution and the introduction of chain stores? 

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    ERP is the abbreviation for Enterprise Resource Planning and is basically the software your business uses on PCs/cashier systems, scanners, and all points of sale devices.  

    One of a kind

    We identified and reviewed a specialized ERP called  SmartSaleERP. It is an integrated tech platform targeted for retail business owners to help you get in control of your business. 

    Granted, there are hundreds of ERP solutions out there including those from known brands such as Microsoft Dynamics, Salesforce, Zoho etc.

    A distinguishing feature on SmartSaleERP however, is the kind of technology they use over and above the traditional features and user interfaces (UI).

    This ‘edge’ comes from the use of biometric and smartcard tech to provide you with a better customer/user experience.  The sales experience can be derived from both the customer and the business side.

    Read the full feature to find out more about this distinct ERP here.

  • Vocations of the Future

    Vocations of the Future

    There is a lot of banter, which is backed up by well-research papers on how Automation and Robotics (powered by AI) will replace manufacturing jobs.

    Blue-collar jobs are not the only ones however, that face imminent and progressive extinction.

    A recent survey report conducted by the World Economic Forum predicts futuristic trends affecting certain jobs in the modern workplace.

    Robert Solow predicted decades ago, in his Solow-Swan model, a massive driving force of global growth: technology.

    And the evidence is prevalent with the likes of Apple, Google, and Amazon championing stock markets with Billion-dollar market capitalizations. They also create an abundance of jobs globally.

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    Disruptive technological advances such as AI (Artificial Intelligence); the ubiquitous high-speed mobile Internet (5G); widespread adoption of big data analytics; cloud technology; and the recent Blockchain technology will be the drivers of this job evolution.

    Based on the report, by 2022, this job evolution will be firmly in place as it has already.

    In a matter of just 4 years, we could have a situation where jobs such as postal service clerks, data entry clerks, and bean-counters (accountants and auditors) would be made redundant.

    Impact on services

    Software like Microsoft’s Dynamics 365, aims to remove ‘silos’ within customer relationship management (CRM) and enterprise resource planning (ERP) processes.

    The latter takes over (fully automates) back-office operations such as stock-taking and supply chain management.

    Such tasks will be performed via software, reducing the need for more human supervision. Consequently, the focus would be more on managerial roles.

    In the sales and customer service realm, technologies like Microsoft’s AI will provide automated insights to guide employees on improving customer experiences.

    Furthermore, it may lower support costs by using virtual agents or Chatbots to eliminate in-house AI experts and those writing code. This will  result in more redundancies!

    World's jobs

    On a positive note, newer and more exciting jobs such as data analysts, machine learning and AI specialists, digital transformation experts and in general information system services will be on the rise – up to 135 million globally, according to the Report.

    The fields to benefit directly from new technologies would be information technology; information security; innovation; customer services and risk management (financial services).

    Impact on finance

    Another group of professionals whose nature of work will be affected due to the advent of ‘disruptive technology‘ is financial middlemen. Likewise, smaller banks and money transfer institutions.

    Decentralized systems were primarily put in place to eradicate exorbitant fees associated with transferring money across borders.

    Cutting them out completely undoubtedly renders them redundant. It is therefore pertinent for them to innovate their products in order to open up sufficient job position.

    Read more about the effect of Cryptocurrencies on the banking sector here

    Recently, Malta’s finance minister whilst in a private interview during a Blockchain Conference, echoed this. He said that the advent of cryptocurrency has changed financial middlemen into traditional “photo developers”.

    “I can see this, just like in photography when you could tell that […] those who process the photos will lose their jobs; a lot of financial intermediaries will be facing the chop in the not too distant future,” says Edward Scicluna.

    The good news for governments will be that the trend shows that the jobs created will surpass those lost.

    Be proactive and skill yourself accordingly or get the right personnel who can quickly adopt some of the mentioned skills so that you do not fall behind!

  • Accountable Supervision

    Accountable Supervision

    Leadership values are not only confined to the running of a political campaign, party, or country for that matter, however, like in any venture that has an objective and deals with human beings – it forms the backbone of a successful business.

    Consequently, what leaders such as CEO of Tesla Elon Musk, for example, say or does, have a positive or, in the recent unfortunate case, a negative impact on the shareholdings of his business.


    The share price can decline sharply and worse yet, it can lead to the exit of senior staff members and thus undermining the business, its leadership values, and objectives.


    This why it is critical for companies to adopt the right practices and responsible leadership to enable them to address both internal and external issues affecting them.


    This is even most relevant when dealing with a company that has a multinational operational facet such as the Murray and Roberts Group – a South African company that operates in a global setting.


    This specific multinational company was used in a case study for a research paper because it is firmly entrenched in the construction and engineering industry.


    More specifically, they service the global natural resources market sectors of underground mining; Oil & Gas; Power & Energy.
    Such a diverse set of operations requires a varied set of objectives spearheaded by a solid leadership path.

    A new model of leadership

    We have covered the topic of Emotional Intelligence before. It now surfaces again within a brand-new leadership model known as the ARCHES model.
    The name derives from a key characteristic of the physical structure of an arch and its durability.

    Coupled with its diversity in models and materials and its depiction as symbols of triumph, it represents an apt analogy of what responsible and effective leadership should be.


    The model was especially derived by an academic* for a syndicate group assignment and is based on six key characteristics that should be imparted in a leader.


    An effective and responsible leader is one who is attuned to their followers, responsive, possesses the necessary competencies, serves with humility, is ethical and adopts a sustainable approach to leadership.

    A leader who possesses all these attributes is one who can rise above adversity and lead their followers in a way that promotes innovation, motivates, develops skills, promotes personal growth, and encourages improved performance.

    B.Moyo

    Application of the model

    ARCHES

    The model defines attuned leadership as the act of being self-aware, informed, and aware of the environment in which you exist – servant leadership.


    Employees should be encouraged to take responsibility for their actions because responsibility and effectiveness are complimentary. The demise of US energy company Enron, for example, was due to a failure of management to execute communication-based responsibility, internally and externally.

    A volatile, uncertain, complex, and ambiguous environment in which a business operates can result in many potential projects not coming to fruition.


    In such an environment, leaders that are attuned, responsive, and possess the right competencies can expert power as their way to influence followers to exhibit the same traits.


    Referent power develops out of admiration of another and a desire to be like them. Expert power, on the other hand, is a person’s ability to influence others’ behaviour because of recognized knowledge, skills, or abilities.
    This requires the leader to have a tolerable level of humility.

    This is defined as a personal quality reflecting the willingness to understand the self (identities, strengths, and limitations). That combined with a purpose in the self’s relationship with others.


    Once again, the emphasis on Emotional Intelligence coupled with traditional leadership competencies is needed to steer multifaceted companies.

    Even more so when dealing with diverse cultures and work ethics across borders and continents.

    Direct consequences

    Being the largest employer in the locality directly implied that Murray and Roberts had to be consistent with the idiomatic Zulu expression of “Umuntu ngumuntu ngabantu”. This means: I am because you are, you are because we are.
    Good leadership in the Ubuntu philosophy is based on the engagement with communities and defines a well-led organization.


    Not paying attention to ethical issues surrounding a community or the environment can have an adverse effect on your values. This would also affect your staff and the image of the company you steer.


    A bitter consequence of the failure of ethics was evident in the $4.2m (64.1 million ZAR) fine to the said company. This was for its involvement in sector collusion related to construction projects for the 2010 World Cup.

    Concluding remarks

    Finally, a practical leader will also consider any upcoming projects with the lens of understanding the environment that surrounds them to incorporate the concept of sustainability.


    These traits might sound like they need to be learned but most should be already ingrained or come naturally to you or your leaders.

    If not this is not the case, you need to quickly install the right personnel with such to help steer your business enterprise or economy for that matter, to success.

    *This blog post contains excerpts and is derived from a master’s research paper. It was conducted by Bonnie Moyo for the Rhodes University Business School.

  • Rare tangible coins

    Rare tangible coins

    With all the talk of digital (altcoins) and Bitcoin, it is hard to even fathom the value or point of holding physical coins.

    They are still nevertheless being minted so it will be quite a while before the clunky things are done away with.
    Some coins, however, though not very publicized, still hold significant value – even as much as Bitcoins!
    It reminds me of a time way back in 2006 while routinely wandering through the pages of a local magazine, I paused at an advertisement that caught my eye.
    An institution dubbed the South African Coin Corporation was offering R100 000 (the present-day equivalent of $8400) for a 5 Rand coin with the face of Nelson Mandela engraved on the back.
    Unable to contain my excitement at the prospect of being a couple of hundred thousand Rands richer, I rang up the number supplied at the bottom of the advert to claim my bounty. I had five of the coins.
    Unfortunately, the coins were worth little more than their intended 5 Rand in value because they were ‘used’.

    Coin dealers

    The company required rare coins that had been untouched and uncirculated. The South African Mint in 2000/2001 minted and encapsulated a few of the 5 Rand Mandela coins and sold them to a few collectors. They are now valuable and had a high demand from overseas collectors.
    The South African Coin Corporation was one of the many coin dealers in the country that dealt exclusively in graded, encapsulated rare (uncommon)South African coins.
    For the past 18 years prior to my visit, the company traded in rare coins ranging from the Veld pond, the 1892 one penny to Krugerrands. All these coins come with (often) dramatic and important historical backgrounds.
    “Roman emperors were printed on their coins and that’s how one could tell who ruled and through which period,” a senior broker and spokesman for the corporation explained.
    “The coins encompass historical periods in time from the Anglo-Boer war to Paul Kruger, and the gold mines – the stories are all in the coins.”
    The coins are graded on an internationally guaranteed system by two recognized American firms namely NGC and PCGS. They work on a grading system ranging from categories such as ‘good’, ‘fine’ and ‘uncirculated’.
    The grading system helps to determine authenticity and originality of the coins – eliminating counterfeits and circulated coins. A ‘proof 70’ coin is basically a flawless coin and is worth a small fortune.
    Lower and medium coins on average collect growth levels of 8% to 15%. Low-grade coins are basically coins that have been in circulation or ‘used’.
    Therefore, a 5 Rand coin obtained from banks and shops (such as the ones I had at the time) are deemed as heavily circulated. Therefore it is only worth the printed value.

    Point of interest

    The industry was briefly brought into the spotlight about a decade ago with the record sale of the single fine ‘proof 69’ Mandela 5 Rand coin. It sold for a whooping 100 000 Rands (worth $13, 300 at the time).
    A senior broker at the Coin Corporation carried out the record sale. “That specific coin was bought by an overseas investor,” he said.
    The near flawless coin according to the company is earmarked to break the $100 000-mark in years to come when it becomes rarer. “And we are yet to see a ‘proof 70’ coin,” he added.
    IMG_1512857432726_1If that sounds impressive you will be further astounded to know that even lower grades of the coin such as the proof 66 5 Rand Mandela cost 735 Rands ($62) in 2006. It then commanded growth of over an astonishing 900%.
    And like our digital friend Bitcoin, it shot up to 8500 Rands ($715) within a year in that year – spurred by speculation and the knowledge of its existence and intrinsic value.
    Some of the lower grades (Proof ‘62s and ‘64s) are now currently worth about $200 – $300 today and can be bought off private investors via online marketplaces. Some banks like this German-based Bank called Netbank offers the option to invest directly in Krugerrands.

    The US market has the largest rare coin markets in the world valued at billions and billions of dollars.

    For those that are looking for something more secure and long term, there is only one trend with this type of investment – and it’s upwards. It does however, take a long time. A lot longer than holding shares/stock or the digital variation.

    Market research is key

    As with any trading instrument, industry experts caution investors about the use of the coins as investment vehicles.
    It is advised that the coins were subjected to various grading tests and you have to ensure that you are getting the right price for the value of  your coins.
    As a potential investor in a coins, you need to have them valued professionally – preferably with any of the accredited coin makers.
    The market for rare coins is also highly subjected to supply and demand factors. There is always a shortage of rare coins with a steady demand from collectors – so naturally, prices are generally always going up albeit slowly.
    External factors (albeit not heavily) can also affect the value of your rare coin. Aspects such as the economic or even political climate of the country can corrode or improve your coin’s value.
    So, just as we advised about researching Cryptocurrency for their intrinsic value, it is key to learn about the coins you plan to invest in. Furthermore, it is of greater value to have a collection of rare coins than just having one or two.
    Many people, for instance, do not know that there are two types of Krugerrands because they look the same. One is mass produced – making it less rare and therefore less valuable.

    Concluding

    The main impetus behind investing in rare coins besides the diversification of your portfolio includes the fact that they add to your personal assets as it is free of capital gains tax.
    It, therefore, serves as collateral or surety for bigger investments.
    There are also perks such as the absence of hidden costs, administration costs and commission deductions – which are paramount ingredients of other forms of investments.
    Once you purchase the coin, it is yours for the keeping – we are still holding on to ours! 😊

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