Leadership is a vital ingredient in business success, and the Group CEO & Group CTO of Genasys Technologies, Andre Symes and Craig Olivier, are living proof of this. In a recent interview, they shared insights into their company’s success and leadership approach. The following are some leadership lessons that entrepreneurs can learn from them.
Have a clear vision and take action to achieve it
Symes and Olivier had a clear long-term vision of changing the world of insurance through better technology. However, they knew that achieving this vision would require taking things one step at a time. They started by expanding their business to the United Kingdom, where they had secured one of their first customers in 2005. With this experience, they had a proof point that their software could provide the capabilities that the UK market needed. They then concentrated on their South African customers and opportunities before driving growth in the UK actively.
The lesson here is that entrepreneurs must have a clear vision of what they want to achieve and take action to realize it. They must focus on the present while keeping the big picture in mind. This way, they can avoid getting bogged down by the challenges that come with running a business and achieve their long-term goals.
Commit to your expansion plans fully
Symes and Olivier took a big risk when they decided to expand their business to the UK market fully. They knew that half measures would not work. If they were not fully committed to their expansion plans, they would not be able to achieve the success they wanted. This is why they spent two and a half years cold-calling customers, building networks, and developing relationships in the UK market. They knew that they could not afford to fail, so they did everything possible to make it work.
Entrepreneurs must take a similar approach to their expansion plans. They must commit to their plans fully, develop the necessary networks and relationships, and put in the hard work required to achieve success.
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Be agile and adaptable
Genasys Technologies’ platform is highly configurable, allowing the company to provide insurance products that meet the specific needs of its customers. This adaptability is one of the key reasons for the company’s success in the UK market. The company’s platform was able to provide the capabilities that the UK market needed, and its agility made it possible to configure different product offerings quickly.
Entrepreneurs must be agile and adaptable in their approach to business. They must be able to respond quickly to changes in the market, customer needs, and technology advancements. This requires a willingness to learn, experiment, and take calculated risks.
Provide solutions that solve customer pain points
Genasys Technologies succeeded in the UK market because it provided solutions that solved customer pain points. The incumbent technology providers in the UK market were expensive, hard-coded, and slow to change. Genasys came in with a rating change that took only a few minutes to complete, compared to weeks for the competition. Customers adopted Genasys’ ability to change quickly, making the company the preferred partner for many of them.
Entrepreneurs must focus on providing solutions that solve customer pain points. They must be able to understand their customers’ needs and provide solutions that meet those needs. This requires a willingness to listen, learn, and iterate until the right solution is found.
In conclusion, the crucial leadership lessons that entrepreneurs can learn from Andre and Craig, include having a clear vision, committing fully to expansion plans, being agile and adaptable, and providing solutions that solve customer pain points.