Ensuring Business Scale and Success: The Role of Technology.

How to use technology to grow and scale your business, and why your business is not currently scaling.

Transcript

1. ENSURING BUSINESS SCALE AND SUCCESS: THE ROLE OF TECHNOLOGY Benson Imoh, ST
2. What is Business Scaling Scaling a business means setting the stage to enable and support growth in your company. It means having the ability to grow without being hampered. It requires planning, some funding and the right systems, staff, processes, technology and partners.
3. Don’t fear TECHNOLOGY it’s here to help You can’t achieve customer and revenue scale without scaling up your organization, in terms of the size and scope of your staff, as well as your financial, product, and TECHNOLOGY strategy. McKinsey estimates that while only 5% of jobs will be fully automated, within most jobs, 30% of tasks can be automated in some way by leveraging new technologies.
4. “What got you here won’t get you there.” ― Reid Hoffman, Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies
5. 3 Keys to Business Scale  Trust  Learning  Speed
6. TRUST  Employees  Customers/Clients  Government/Regulatory Bodies  Financing Institutions
7. THINGS THAT INHIBIT SCALE  Your why for running the business.  No defined or consistent process(es).  Lack of TECHNICAL VISION PwC found that 86% of CEOs say a clear vision on how to use digital technologies can help businesses achieve competitive advantage – that includes all parts of the business.  You don’t know your customers and where they are, you just have an idea.
8. Do your know your Customers? What are their names? How can you reach them right now? What kind of phones do they use? How do they buy from you? What other things interests them?
9. YOU NEED DATA “Data is the lifeblood of decision making for any company, but it is particularly fundamental if it informs the design of your product, or if acquisition marketing is your key distribution strategy.” ― Reid Hoffman, Blitzscaling: The Lightning-Fast Path to Building Massively Valuable Companies According to Epsilon Marketing, 80% of consumers are more likely to do business with a company that offers personalised experiences. And, in a recent study commissioned by WP Engine, 44% of Gen Z respondents said they’d provide their data to prioritize a personalised experience.
12.  Regulation  Experience  Communication WILL HELP
13. Heathrow Today  2 runways (Northern – 3,902m x 50m; Southern – 3,658m x 50m)  80 million passengers a year (2018)  Heathrow is one of the UK’s largest single-site workplaces with 76,000 people working in 400 businesses located across airport.  Over 200 destinations served – over 80 are long haul 75% of long haul flights come from the UK  84 countries connected to Heathrow  473,000 flight movements a year (2016) – an average of 1,300 a day 98% capacity – Flight movements at Heathrow are capped at 480,000/year
14. Gatwick Key stats 2018  Gatwick served more destinations than any other UK airport in 2018 (source OAG)  Total passengers: 46.1 million  Aircraft movements: 284,000  Total cargo: 113,000 metric tonnes  Total number of aircraft seats: 53.1 million  Average number of passengers per flight: 165  Average load factor: 86.7%  Biggest airline: EasyJet carrying 18.7m passengers  Long haul passengers: 8.6m (+18%)  Top destination served: Barcelona (1.6m passengers)
19. PASSENGER PROFILE Sex: Male 47%; Female 53% Socio-economic group: AB: 38%; C1: 43%; C2: 13%; DE: 4%* Nationality: UK 63%; Overseas 37% UK business 10 % UK leisure 60 % Overseas business 7 %; Overseas leisure 23 %
26. TIPS TO SCALE  Automate your day-to-day activities.  Let technology streamline onboarding.  Foster strong Client/Customer relationships through tech touches.  Use chatbots/automated responses to improve customer- service response time. (50/100,000 – 4,950/1,000,000).  Don’t let technology choose you, choose technology.  Ask the right questions.  Get the money from your investment.  Keep scaling.