Ongoing innovation

There is such rapid change in technology. It moves so fast that you cannot keep abreast of everything. However, I learnt early on to choose my market, listen to customers and keep innovation at the forefront of everything we did.

There is no room to sit back and be complacent because you have market share; it can be lost in a blink with new innovators constantly on the horizon. You need to be aware of everything that is happening in your space all the time and focus your innovation efforts on core customer needs – not just on development of products better than competitors.

Focus on customer experience

Experience drives every customer engagement and touch point. It is multi-channel and omnipresent. In a connected world, customers are looking for seamless integration and easy to use platforms. The only way this can be delivered is by integrating different backend systems and algorithms that tackle the root of issues.
For tech solutions to stand out and succeed, we needed to focus not just on how products suit the clients, but also what role the tools play in customers lives and focus on making their lives easier.

Staying focused on long-term plan and vision

We all have a vision for the business and ourselves. But, it is sometimes hard to stay on track when detracted with day-to-day issues that may serve a purpose for cash flow or new direction at that time. As a tech company, you can have a long-term vision but can’t plan more than 90 days ahead. Technology moves so fast that to keep up, you have to be agile, nimble and flexible. Keep revisiting the goals every quarter, keep the team focused on the immediate future and, over time, the ultimate goal will be realised.

—

Lauren Hall is the co-founder and CEO of iVvy, a software as a service (SaaS) company developing ground breaking tools for the events industry. She is an entrepreneur with extensive global experience. An expert entrepreneur, Lauren has successfully built multiple companies from startup stage through to financial and strategic exit – in Australia and her home country of South Africa.