By Adam Arie
Everyday, we read or hear about successful startups and small businesses each with a story to tell, but for every one of these successes there are more than twice more who didn’t make it. Statistically, 66% of small businesses don’t make it through the first 5 years. And about two third don’t make it to ten. Out of this, 80% of the recorded failures are due to inefficient business process management. In other words, businesses and small to medium enterprises (SME’s) fail due to poor management.
But why though?
Why do these businesses fail in the first few years? Statistics show that the majority of business failures are as a result of gross mismanagement. If management is the issue, then what if there was a system, say, an artificial intelligence that could take on the job of this management and make rational decision based on standard algorithms that have been tested and proven efficient?.
Wouldn’t that solve everything?
Well there is!
Enter OBIZCOIN Knowledge BOT. This is a high capacity artificial intelligence, or BOT, which will develop your business process, monitor and upgrade your team performance and build an operational scorecard that can minimize your operating cost, maximize productivity, and overall minimize business failures.The applications of artificial intelligence are without bounds and it’s implementation into small and medium sized enterprises is one of the most promising. It’s benefits are illustrated in this chart.
The BOT will be capable of process mapping and procedural development in line with the company’s strategic and operational goals, based on based on its domain expertise that it will come equipped with, with a knowledge pool that will keep widening with new business domain knowledge additions.
Also, based on its domain knowledge, it would be able to help make smart business decisions balancing between the need for a company to move fast, and it’s long term strategies that will ensure smooth and insightful day to day activities
The BOT will also have a smart contract plan through which it will be capable of preparing and executing smart contracts that will automate repetitive and definitive tasks
Also, because it’s based on an Erthereum platform, the Erthereum smart contract protocol, salary payments and employee rewarding plans will be fully automated and transparent, leaving no room for bias and serving as extra motivation to workers to make sure they put in their 100%. It will also have an audit system that will track the overall growth of the company.
Another interesting feature is the alerts feature. The BOT, based on careful analysis will alert the user on two different types of situations. Predictive alerts, which identify weaknesses in the processes or system and suggests strategies for rectification, and Prescriptive alerts, which enable early identification of problems and come up with ways to deal with them.
So basically, the BOT will be your virtual CEO. Benefits of the smart contract protocol can be summarized in this chart.
The major reasons why SMES fail will be tackled by the BOT, and they include the following:
Failure in planning: A business plan that is mainly sales-oroiented without having the customer’s needs in mind is very likely to fail. A good business plan must contain clear vision and mission statements and a good marketing plan. And the BOT will provide just that. A profitable plan that has both the management and the customer at heart.(CPU). Lol
Cash flow mismanagement: this is pretty self explanatory. Wastage and inappropriate funds control are among the top killers of startups. Cash flow mismanagement can also be in the form of overly generous credit plans or cash wasted on unprofitable products and services. The BOT will help in management of all the funds in a transparent manner minimize wasteful spending
Promoter led organizations, and poor Decision making: Most small startups are run on the words of a single or few individuals who are the major investors. The dictatorship allows for erroneous decisions to go undetected and Uncorrected. The BOT, being the virtual CEO, will prevent that from happening.
Execution: Yes you may have a plan. But having the right execution tactics have always proven problematic. The BOT will aid in developing strategies that will ensure proper execution of the plans.
Analysis: the BOT, armed with a large domain knowledge, will be able to make proper analysis and predictions, which will be put to use in the management of the company
So now I ask you again..
WHY NOT LET THE BOT DO IT FOR YOU?
The obizcoin will be the official tokens of the BOT. It will be built on an Erthereum platform and will be used to access services of the BOT, and also used for collaboration with trade partners, vendors, mergers, acquisitions and buyouts.The Initial Coin Offering is ongoing and the time line is shown here:
To join in on the ico visit the website: https://www.obizcoin.io//
To know more, download the whitepaper: http://www.obizcoin.io/images/Obizcoin-Whitepaper.pdf