How IoT and automation are influencing entrepreneurship in 2020 by: Anton Herbst, CEO of Tarsus on Demand.

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The lockdown, interruption of supply chains, and the emergence of a distributed workforce are accentuating the need for innovation and entrepreneurship, with countless technology opportunities emanating from these unusual times.


Anton Herbst, CEO of Tarsus on Demand


We are facing unprecedented disorder, with COVID-19 highlighting the need for bold, innovative solutions at all levels of society. Due to the fact that entrepreneurs are, at heart, problem solvers, bringing new products or services to the market to meet a need or a gap, we believe this is their time to seize the moment.

 

We have witnessed the shift from an industrial economy to a digital one, accelerated by rapid changes in technology on the one hand, and the expectations of customers on the other. Innovation has been incremental rather than disruptive. Disruption is rare because our economy has been focused on scalable efficiencies that essentially make a business run a little better every year. Now, technology entrepreneurs have a target market that is increasingly realising the importance of digitisation to compete and stay relevant in this new business environment.

 

We are now observing many sectors such as manufacturing, pharmaceutical companies, and restaurants re-defining and re-organising themselves for COVID-19 products and services at an unprecedented rate. Against this backdrop, innovative start-ups are re-aligning their services given the constraints brought about by the pandemic.

 

The age of connected devices, mobility, IoT, and automation is making it possible for independent software vendors (ISVs) to focus on technology that offers customers measurable business value as never before. However, to leverage this moment in history, ISVs must hone in on the specific pain points and problems that prospective customers of their business are experiencing. Many in our industry have grown too accustomed to developing solutions and then setting out to find customers.

 

Our current context requires ISVs to change tactics. It’s time to start thinking about how to position your company or product as a solution to your prospects’ problems, and what is needed to keep them happy. To put it plainly, solving customer problems is more important than the vision you have for your business.

 

Customer-focused businesses are built around customers' needs. Having a customer focus is the key contributor to the overall success of a business and involves ensuring that all aspects of the company put its customers' satisfaction first. This requires obsessive knowledge of your customer and how to deliver, and it’s now more important than ever.

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