MORE and more conventional businesses have transformed into digital businesses. But how do the two differ or similar?
And how does Smart Asset Managers (SAM) adapt the two kinds of businesses? First let us understand what is a conventional business? It is defined as a “traditional and relatively mature industries in which breakthrough innovations and new ventures’ scalability are barely seen.” It is simply into buying and selling goods or services.
On the other hand, digital businesses use technology to create new value in business models, customer experiences and the internal capabilities that support its core operations. The term includes both digital-only brands and traditional players that are transforming their businesses with digital technologies.
SAM was first conceptualized and registered in 2018 in Melbourne Australia as a general business and not a financial solution provider. Therefore, it only invites subscribers whose subscribed amount of 300USD (minimum), will earn him incentives of up to 15% monthly, distributed daily. The amount is used in crowd-funding to create conventional businesses. The process used here is digital because one has to download the SAM apps.
This mobile apps has various functionalities. Among the different conventional businesses to be created under the Smart Asset Managers Project Developments (SAMPD) include but not limited to oil importation/exportation; frozen fish, meat and other commodities; acquisition of PWave Technologies of India; owning of E-remittance and E-foreign exchange.
SAM’s aim is to reverse the conventional method of entrepreneurial journey through economy sharing in which a subscriber can directly engage in conventional business if he so desires.
Today, people are spending more money online, which has shifted business emphasis to digital sources of revenue and digital channels. The growth of the digital economy has made people more familiar with digital products and services, which has driven companies to seek new competitive advantages in the digital space.
SAM’s founder Rommel Santos said, “We are primarily focused in developing real conventional businesses with this concept (digital). We share the opportunities to all our subscribers to engage directly in the business.”
SAM tentatively schedules its Philippine launch in July or August 2020.