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By JESSAN DOTON
Roger La Salle, an expert on innovative and new venture creation, says the single biggest risk to business success is market risk, or not selling enough products.
Mr La Salle was talking articulately on this year’s Fiji Institute of Accountants congress theme of innovation, through his riveting, sometimes humorous presentation at the Sheraton Fiji Resort, Denarau.
He labelled Fiji a land of opportunity, likening it to the Singapore of the Pacific.
But he believes not enough innovative business thought was being stirred to take advantage of the many opportunities in Fiji.
“Fiji has land mass, great people, resources and the English language,” he said.
“Compared with Singapore which is only 710 square kilometres, there is a lot of untapped potential and opportunity in this country.”
Mr La Salle also stressed Fiji’s labour rates were lower than that of China, and why businesses aren’t outsourcing their factories here is a question that should be asked on the value of our proposition.
Expounding on the deteriorating life of companies/businesses, he said back in the 1970’s, the life expectancy of a company was 65 years, deteriorating to 10 years, and now lying at a shocking five years.
“If you do not think of ways to expand and innovate your business, then someone else will come around and step right into your spot,” he said.
He said problems should be seen as the reciprocals of opportunity rather than a dead end.
“By using innovation to change and add value to a product, businesses can continue to prosper.”