Charles Wissa, an innovative entrepreneur at the helm of Asic Jungle has been featured on Forbes
Four exemplary leaders assess the year 2023.
Even though many leaders were adjusting to the pandemic's third year, 2022 still provided a number of challenges, not the least of which was the economic slump, which irritated technology corporations and startups by causing widespread job losses and financial cuts. Worldwide supply chain problems elsewhere created confusion, and several businesses had trouble surviving.
The well-known fashion retailer Joules filed for administration in November. Following several months of financial difficulties, the fashionable retailer also stopped trading in their stock. After just two years after being listed on the London Stock Exchange, Made.com, which had a $933 million price tag and grand ambitions to dominate the sale of digital furniture, also filed for administration in the same month. This Thursday, The Guardian published an article titled "Shoppers to lose $10 million in deposits, warn administrators."
However, there has been a drive to develop solutions and adapt because many executives had to think and find methods to remain innovative in order to keep up with the new normal. So, what can we anticipate for the upcoming year?
Many leaders are already planning ahead and focusing on the future as 2023 draws closer. Despite the fact that there are no guarantees in life, trends can give you an idea of what the future may hold and how to get ready for it. From four leaders, here are some of their opinions, forecasts, and insights into what the future may bring:
1. Keeping flexible to stay in front
Blockchain and digital asset specialist Norman Wooding said, "I learned that you had to be ready for anything, because nothing is certain. In 2015, the graduate of the London School of Economics started mining digital assets. He created SCRYPT Digital four years later, and it now manages and transacts billions of dollars for its institutional clients. In such a turbulent and constantly-evolving industry, he claimed, "it's the only way to actually succeed." Wooding emphasizes the significance of remaining flexible to stay ahead and predicts that 2023 will be a turning point for his sector. Wooding's perspective is in line with research from the Harvard Business Review that indicated the most prosperous firms consistently improve their capacity for change during uncertain times. As a result, it's critical to swiftly modify plans of action and procedures: "When the unexpected happens, firms have to move on their feet and make changes rapidly," Wooding said.
2. Increasing communication between producers and customers
Oliver Bell, a businessman and leader in the blockchain space, emphasized that content is crucial for business owners. He established the XCAD Network last year, a platform for fan tokens for some of the top content producers in the world, allowing viewers to earn digital assets unique to that producer by watching that creator's videos directly on YouTube. These tokens can then be allocated to other customers to access a variety of benefits, much as how users accrue air miles by flying. For widespread acceptance, Bell added, "the connection between blockchain and the real world is crucial, and I'm pleased to be leading the way." He thinks that the emphasis for the following year will be more revolutionary, with the same goal of bridging the gap between producers and customers. Bell's perspective is in line with research from Mckinsey & Company, which discovered that blockchain technology can be vital in developing cutting-edge solutions for more effectively linking creators and customers. So, in 2023, more people are anticipated to employ this technology.
3. Connection is essential
According to Charles Wissa, an investor in alternative currencies and entrepreneur, "the digital economy as we know it is fast changing." He co-founded Asic Jungle in 2020, a trading platform that in 2021 managed transactions involving 100,000 ASIC miners. According to Wissa, in order for businesses to succeed in the coming year, they will need to think creatively and adopt new technology. To keep on top of the game, he said, business owners must grasp regulations and learn how to use technology successfully. Wissa emphasized the value of maintaining contact with customers through conferences, email marketing, and other social media channels. "Connection is vital; having a fantastic product or service isn't enough. You need to be able to interact with and build connections with your customers." Wissa's perspective is in line with research from the Harvard Business Review, which concluded that customer connection is crucial for success in the digital age. Therefore, for businesses to be successful in 2023, developing relationships with customers and maintaining a connection with them are essential. Ultimately, Wissa said, "it's all about understanding your customer and being able to rapidly adjust to their requirements and wishes."
4. Design thinking will be extremely popular.
According to Ekaterina Perekopskaya, an art director, fashion designer, and stylist who co-founded Concept2048 with photographer Rostyslav Brenych, "design thinking is a crucial ability for entrepreneurs to stay ahead of the curve." The Metamorphoses art collection was on display as part of the "Personal Structures" section of the Venice Biennale this year. Through NFTs, the digital artists discovered a creative approach to engage with their community. These NFTs give their hand-made collection digital life and inspire people to band together to solve global issues. Brenych predicts that design-driven tactics and digitization will open up new chances for firms to explore in 2023, adding that "it's vital to rethink marketing strategies, product designs, and consumer experiences." According to Perekopskaya, it will need more than just innovation to make an organization stand out from the competition. Her point of view is in line with studies done by Fujitsu, which discovered that businesses must undergo digital transformation in order to remain competitive.
In conclusion, 2023 will undoubtedly present leaders from all over the world with a distinctive mix of problems and opportunities. Bell and Wissa emphasized the need for organizations to embrace design thinking ideas in conjunction with digital technology, whereas Brenych and Perekopskaya emphasized the significance of maintaining connections with customers. Leaders will be well-positioned to design experiences that result in success in the next year by utilizing these insights. It goes without saying that only time will tell if businesses are capable. However, CEOs will undoubtedly have a better chance of surviving—and thriving—in 2023 if they keep on top of the most recent developments and use the appropriate technologies.
Article Credit: Forbes
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