Would you consider Rocket to be a successful business, or just lucky?
As we can see, they are following proved business model and implementing those with their resources. So their business can’t be said lucky. They’ve achieved what they are capable of doing. They become successful because of their determination, integration and proper business analysis. The three brothers had their plan in mind and implemented that in the best way possible. People certainly will agree on one thing, and that is their business has no creativity. That’s not their concern. Their business model also isn’t supporting creativity. They get inspired by existing companies and implement these in their way. None did better than them. They took the risk which paid off. Sometimes luck favoured them, sometimes didn’t. Every business needs some luck to see the light of success, and it’s same for Rocket as well. So we consider Rocket to be a successful business not just lucky.
As CEO Oliver Samwer, what would you do next?
- Target 525 million internet users in Africa the way we did in Indonesia, Russia, and Middle-East
- Focus on bottom-line growing
- Artificial Intelligence sector is a good option as we look to contribute in every sector
- Fintech is another target.
Oliver knows his business pretty well. Though there is always room for improvement, from SWOT analysis, Porters five forces analysis and other analysis, Oliver should learn from these things. He mainly focused on European and Asian markets where there’s enormous market left in the African countries. As technology is growing fast, African countries are getting into the internet. Africa has almost 525 million internet users in Africa. We would target this market because of the lack of competition and comparatively easy to get over the line. There’re some startups under Rocket which eventually made it to the profit segment. Identify this kind of startups and not plan to sell them this early.
Raising money through IPO wasn’t a wrong move. Things could have gone worse. But it didn’t. It’s a good move as it meant that Rocket would be better able to sustainably fund its affiliated businesses without relying on external debt financing. So, we shouldn’t focus on this. They sold their businesses too quickly to realize quick profits rather than more lucrative long-term gains. We would work on that. There’re some controversial incidents which we shouldn’t consider much. We have our stronghold and a business culture we nurture. We should always focus on that and work hard to be more successful. Financial technology is the technology and innovation that aims to compete with traditional economic methods in the delivery of financial services. The use of smartphones for mobile banking, investing services, and cryptocurrency are examples of technologies aiming to make financial services more accessible to the general public. We are planning to catch this sector as soon as possible. Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computer systems. We are also looking for emerging companies that we can invest in those.