Co-founder Nick Hughes on why we need to challenge what we know – spoiler alert: it’s now or never
WHY 4R DIGITAL LTD?
How do we change what isn’t working well? How do we avoid the trap of thinking we’ve got it covered when competitors begin to do things better or cheaper? These are the questions that fascinate me.
Working with some brilliantly smart people, I created and delivered two game-changing innovative businesses, one in digital payments (M-PESA) and one in distributed, financed hardware (M-KOPA). For both of these initiatives, we carved out development time, we found funds (sometimes in strange places) and, importantly, we grew allergic to phrases like ‘but that’s not how we do things’. The end result? New businesses that have not only reached, but positively transformed the lives, of tens of millions of people.
Today there are two huge levers that are here to stay: digital connectivity and digital payments. Connectivity underpins the 4th industrial revolution, with emerging economies providing a context that amplifies the pace of change and the art of the possible. In this space, legacy systems simply don’t exist. We truly can re-invent models. I believe we are only scratching the surface of how we can use and apply these powerful tools.
4R Digital is here to help shape the next generation of business models through innovation.
Many businesses already have the assets to underpin new models – a brand, products, a license to operate and of course, loyal customers. However, business managers often struggle with time, funds, thinking space and the threat of failure in trying to initiate change.
That’s where we can help, by bringing experience (scars and badges), expertise, technology, development space and even funding where required, to incubate new models. Our job is to help find new opportunities where these digital levers can be applied and where we can take what may seem like a half-crazy idea and turn it into a viable, scaled and successful business.