Virtual Reality: The New Way Of Doing Business

The COVID-19 pandemic has been an eye-opener for many businesses bringing our normal way of doing business to become abnormal.

Flip back to the lockdown period which saw many Nigerians resort to doing business and working from home. Deals were signed; businesses and transactions were carried out successfully without physical contact or even handshakes.

The pandemic came with its disruption and now, the new way of doing business is through virtual business. It is cost effective, gives room for more creativity, and reduces office bureaucracy.

In the light of this, a young and resourceful creative turned entrepreneur also shares this same mindset as he didn’t mince words when he was sharing on how running a virtual creative business should be considered as the new reality.

“COVID-19 has opened our eyes to see the reality in doing business in an unusual way. Our normal has turned to abnormal. Our abnormal now is more cost effective than the usual normal,” said, the Chief Creative Officer, IOmedia.ng, Israel Obatunde,

“And to top it all, you can actually work anywhere at any time and still deliver optimal business results,” he said.

As much as COVID-19 hit some businesses hard, some others made more profits even in the heat of the pandemic.

Electric car pioneer company, Tesla amid the lockdown in July 2020 hit its stride. The sales of the company, owned by billionaire, Elon Musk held up well, with growth in China and other overseas markets offsetting the loss in the United States.

According to the Nigerian Communications Commission, Nigeria gained 2.5 million subscribers during the lockdown in April 2020. Also, in Q2 2020, Internet users hit 7.5 million, taking the total number of data users in Nigeria to 143.3 million as of June 2020.

Telecos financial reports during these periods shows growth although the numbers were said not to be impressive, compared to revenues from previous quarters.

Israel Obatunde noted further that, despite these, the advertising industry, took the lockdown in its stride.

“IOmedia.ng is one of the creative businesses that latched on to the benefits of working virtually which has provided seamless opportunities for the business to work with professionals with unique expertise in marketing communication around the world, hence the wake-up call by its founder.”

“Advertising agencies in Nigeria were among the first industry to realize that you can work from home or anywhere. This is because clients could get their deliverables while people worked from home. This was even faster.

“This is why we want to take up the challenge and make brands continue to see the opportunities in working with a virtual business, and get productivity with no loss,” Obatunde said.

He explained that IOmedia.ng media hub runs virtually with a rich portfolio and the enthusiasm to grow businesses from point A to B.