I am constantly tending a small graveyard in my back yard.
Once in a while I take a thoughtful walk over there and take a look,sit on a fresh tombstone,pull out a few weeds.
My collection has grown.
It reminds me how time flies.
It sure does.
You should come over visit sometime.
Visit this memorial of mine.
Oh ,come on,don't be like that!
The graveyard is your friend.
It is there that your nostrils will take in the most pure of airs.
That slightly breezy wind,seeping through the trees.
It makes them dance.The trees whistle.
Can you believe that!
Come visit sometime.
Sometimes,the dead return to life.
Sometimes they die,other times they live.
What! You are not a believer!
There is life after death. I know.
Everyone of us has that back yard,where our memories and ideas are buried.
Those which never took off.
Those which did and crashed,and some which we hope to launch some day.
Breaking out on your own teaches you lots.
The good and the bad.
That which no one ever tells you about,because everyone is entitled to their own experience.It is a sin to stop someone else to learn by experience.
No one can teach experience.
You can share,but you cant relieve it fully for some one else.
I seem to have come full circle now.After a hiatus of sorts. I may just have that now famous 'primitive energy' beyond the border. I have realized that is not what you have but a state of mind.
Let me digress a little. How do you make a debut flight campaign and one of the 'killer' words in the campaign meant to get people to embrace your airline is 'primitive energy'!
Stay with me here.
It is a question.
How about if you put your self in the 'campaigners' shoes? OK? Let us do. Are you there.Laces tied up? Ok.
Did they mean that the people you are flying in to see have this almost rude energy they will snatch anything or scream for service?
Or is it used in a positive light to reflect,say, unspoilt,almost virgin energy?
Moving on.
But wait.
Just a second.
Primitive energy?!
Really? Seriously? For a place that is going to host you and your business! I would kill to get the Korean translation.Possibly the meaning was lost in translation.
But back to my collection patch.Lest any one thinks I am a cannibal or something.
I am talking about ideas. Some which have come to fruition and some which haven't. Most of them have had the light of day shining on them and they have had an impact. Some have set me back.Some are yet untouched and yet they are all there,collected,as if in a trance till that spark comes in to ignite them.
There is this one which just won't go away,constantly nagging,tugging,as if screaming for attention.It is now that I realize that my constant walks may have something to do will resurrecting ghosts. What did I think,you may ask.
But it is also now that I remember that sometimes we work to earn,but our most memorable day and moments will be those where we work to learn.The world has a way of repaying those moments where we didn't even question for pay,as if telling us that our price is ahead and is yet multiplied and what we have picked up,no price could have paid for,and it would have been us paying!
The next time we talk, this idea would have grown legs.As if zombie like,a tomb cracking open,and the opening getting bigger ,a figure walking out,dusting cob webs and dead earth from its glazed eyes and picking up speed as it goes,leaving a gaping hole in my once pristine graveyard.Going to happen to the world.And you will never notice when you meet,that this extremely tailored well cut- suit is holding what once lay there lifeless.
My next big idea is here.
Njuki Moments
Showing posts with label the real thang(business). Show all posts
Showing posts with label the real thang(business). Show all posts
Tuesday, June 26, 2012
There is life after death;and sometimes death thereafter
I am constantly tending a small graveyard in my back yard.
Once in a while I take a thoughtful walk over there and take a look,sit on a fresh tombstone,pull out a few weeds.
My collection has grown.
It reminds me how time flies.
It sure does.
You should come over visit sometime.
Visit this memorial of mine.
Oh ,come on,don't be like that!
The graveyard is your friend.
It is there that your nostrils will take in the most pure of airs.
That slightly breezy wind,seeping through the trees.
It makes them dance.The trees whistle.
Can you believe that!
Come visit sometime.
Sometimes,the dead return to life.
Sometimes they die,other times they live.
What! You are not a believer!
There is life after death. I know.
Everyone of us has that back yard,where our memories and ideas are buried.
Those which never took off.
Those which did and crashed,and some which we hope to launch some day.
Breaking out on your own teaches you lots.
The good and the bad.
That which no one ever tells you about,because everyone is entitled to their own experience.It is a sin to stop someone else to learn by experience.
No one can teach experience.
You can share,but you cant relieve it fully for some one else.
I seem to have come full circle now.After a hiatus of sorts. I may just have that now famous 'primitive energy' beyond the border. I have realized that is not what you have but a state of mind.
Let me digress a little. How do you make a debut flight campaign and one of the 'killer' words in the campaign meant to get people to embrace your airline is 'primitive energy'!
Stay with me here.
It is a question.
How about if you put your self in the 'campaigners' shoes? OK? Let us do. Are you there.Laces tied up? Ok.
Did they mean that the people you are flying in to see have this almost rude energy they will snatch anything or scream for service?
Or is it used in a positive light to reflect,say, unspoilt,almost virgin energy?
Moving on.
But wait.
Just a second.
Primitive energy?!
Really? Seriously? For a place that is going to host you and your business! I would kill to get the Korean translation.Possibly the meaning was lost in translation.
But back to my collection patch.Lest any one thinks I am a cannibal or something.
I am talking about ideas. Some which have come to fruition and some which haven't. Most of them have had the light of day shining on them and they have had an impact. Some have set me back.Some are yet untouched and yet they are all there,collected,as if in a trance till that spark comes in to ignite them.
There is this one which just won't go away,constantly nagging,tugging,as if screaming for attention.It is now that I realize that my constant walks may have something to do will resurrecting ghosts. What did I think,you may ask.
But it is also now that I remember that sometimes we work to earn,but our most memorable day and moments will be those where we work to learn.The world has a way of repaying those moments where we didn't even question for pay,as if telling us that our price is ahead and is yet multiplied and what we have picked up,no price could have paid for,and it would have been us paying!
The next time we talk, this idea would have grown legs.As if zombie like,a tomb cracking open,and the opening getting bigger ,a figure walking out,dusting cob webs and dead earth from its glazed eyes and picking up speed as it goes,leaving a gaping hole in my once pristine graveyard.Going to happen to the world.And you will never notice when you meet,that this extremely tailored well cut- suit is holding what once lay there lifeless.
My next big idea is here.
Saturday, January 21, 2012
Want to hunt? Go ahead -head hunt.
I was my own sole employee for a few years.
I had even launched two new product lines to the market. No jokes. Seriously-I just like the line...launched two product lines to the market-eggs and packed chicken. Then Faith happened. Not Faith the virtue. No. Faith, the person. She was my first employee and as a result she introduced me to the world of head hunting.
You see when you start a business unless you are the genius type, which I am not, you will get to a point when the business outgrows you. At that point, you will constantly you struggle to learn new skills and you will constantly fire fight to get things right-on time.
That is what happened to me the first day my new product line was launched. I told you I love that line. It was that bright day when the receiving clerk at the supermarket asked me to differentiate between a thigh and a breast-of a chicken. I know I needed someone better than me in this area.
When you realize you need better skills the urge is normally to go back to school do a course or something. You will rarely find that useful. By the time you complete the course your business will be far back than you left it, especially if it is the type where you play a key role and your presence is needed daily. There are people out there who have done what you want done for a while. This is how Faith came into the picture. She came highly recommended and she had the experience from a multinational company to boot.
Problem was, I didn't think I could afford her. Business skills coming to the fore, I negotiated not her salary-I didn't know how much she was worth and my deeper fear was whether I would be able to accommodate her skills fully-whether my small business would generate enough challenging work for her.so when we spoke, I negotiated for time. Half her time in a day. I let her be the boss. Come in here early morning and you can go do something else. Come back in the evening and finish up for this fee. She accepted. With time I would ask her to train someone else to work in her absence so skill transfer can take place. When you have an arrangement such as this with lee-way either side you can’t go wrong.
With time Faith agreed to work more time and even gave me insights never thought needed. Don't die under the load. Ask someone with experience to help. Give them the convenience of choosing the terms-at first it will guide you well on how to proceed. Use them well and build a team. You will be surprised just how beneficial such a deal can be in the long run. They tend to look at this young outfit as their baby and well-steered you will achieve much more than if you had engaged another rookie so you can still be the most knowledgeable on the team.
Being smart is measured by how well you manage people who are smarter than you. Learn the skill and if you are in the service industry, outsourcing pretty manners and some faces goes along way.
Saturday, January 7, 2012
Mind your business
Not many entrepreneurs are known for their depth of knowledge from formal school. That is if we get talking diplomas and degrees. However, one thing you may observe is that no one can pass for a fool or uneducated if you may. If you have experienced some form of success in creating and running a business, you have far too much education, and experience than you get credit for. Why?
Because that is just the way of business, it is a game that requires tack and skill, and experience and speed and if you are winning, you certainly are doing something right. Money is fluid and requires careful handling. When you succeed in so doing, you have what it takes to win in the rest of the world’s challenges.
But most importantly, what entrepreneurship requires of you is knowledge of your business, attention to detail and questioning even that which seems obvious. You need to mind your business, and getting information before and after you start is important. Learning never ceases.
When God said, 'My people are destroyed from lack of knowledge'(Hosea 4:6) take it that he had you in mind. A lot of entrepreneurship graves litter the horizon. Cause of death? Lack of information and insufficient care to own business. Let us share some examples.
In March 2008, I found myself in a long line of investors who wanted a slice of the Safaricom IPO shares. Safaricom one of the most profitable telecom businesses in the region was listing on the Nairobi Stock Exchange. The Kenyan government was offering 25% of its stake in the company. Talking money, the IPO was offering 10 billion shares priced at 5 Kenyan shillings a share(Ush 150), which implies a value of KES200 billion ($3 billion). As expected there was this whole lot of promotion for the Initial Public Offer, and everyone imagined themselves owning part of that juicy offer. Catch was, you had to subscribe for the shares in Kenyan shillings plus opening up a CDS account and brokerage fees, all for small percentages, it seemed.
A lot people lined up converted their cash and went in for the kill. If you spoke to some people queuing up-like I did, the strategy was to get their allocation and sell immediately on the opening day hoping the price would appreciate as had the KenGen shares two years before. As luck would have it, the IPO was oversubscribed, meaning not many people got all the shares they had subscribed for, they therefore had to go through the money losing and heavily stressing process of reconverting their money at obnoxious rates some months later. At the end of the day, the banks and agents had made the money and so had Safaricom. Not many speculators came out smiling, because to add to their troubles the share price dipped on opening. Now some people had taken loans hoping to cash in and pay back.
Now, specialists and consultants are important in business but you remain their boss, meaning they are meant to refine your thinking not stop it. Eventually it is your money and therefore you should take the last decision depending on your independent analysis.
For this particular example, anyone who has played the markets should have told you that you invest for the long run, which makes more sense so you should be prepared before you go in. But if you miss the analysis you go down.
I can imagine God up there looking on in wonder, tugging at his white beard, calling Jesus, 'Hey son, come here and observe earthly beings making a fool of themselves' and probably wondering how to help all out. Sadly for you, if you miss making your own analysis, Angel Gabriel doesn’t deliver messages here like he did before. So you are on your own. Key point is: invest in doing your own studying and no matter what the experts say, if the deal doesn’t make sense to you don’t go in. You would rather be sad for missing an opportunity than taking it and crying for losing even more money.
The same would go for Ugandans who have taken up online trading and playing the global markets. Truthfully, it is a viable business opportunity but one needs to invest in knowledge so you know how the money is made. It is foolhardy, in my opinion, to save up and deposit all your money with a consultant’s company and simply expect monthly pay outs without knowing how the business runs. Invest in knowledge. In short even when you employ experts to manage your money, mind your business.
Friday, December 9, 2011
Friends with benefits
We are always told to friend up the ladder, network with people who are more progressive than we are to pave way for our own progress. It is all in good faith. When you are running a business, chances are you will look through your list of friends from the Golf Club, Fathers’ Union, and Old Boys (Girls) Association for business partners and suppliers. Heck, you may even have a few employees sourced that way.
At work and in business, we would like to achieve the best with the least of resources, also knowing who you are dealing with has its advantages. There is trust already built and you are likely to spend less establishing how genuine they or their businesses are. There is also an implied trickle-down effect that when one of you gets ahead the rest benefit, however indirectly.
When a business relationship with a friend goes well, the resulting dynamic can be very rewarding. A true friend always has your back, and when that friend is a key business supplier or partner, they have your back -- and your bottom line!
One of the best ways friends can support you is to buy stuff from you to help keep you in business. There are many cultures that are centered on this very idea, which is why those cultures tend to do well in business.
But sometimes the results may not be as rosy. It is wise to develop business guidelines and stick to them whenever you are dealing with stakeholders. These guidelines are meant to protect the business. Friends and relatives who may be suppliers or doing business with you need to follow the same guidelines.
It may be hard enforcing difficult clauses in a contract for example when a supplier does not deliver or delivers defective goods. You need to show them right from the start that friendship may have got them the business but trust and mutual agreement is for the good of everyone. That is how business is.
You may feel obligated to give them a cheap deal, which means you lose money and time, so you put them off and procrastinate getting their project going. But this is a mistake to feel this way, because your friends may just want to support your business and may feel great being able to pay you for your services.
For starters, don’t expect or demand of a friend who also runs a business that which you would not expect any other business partners of. It is not fair and once the business suffers as a result, so will the friendship. This is regarded as taking undue advantage of friendship. Even with great friendship over the years, do not demand that one gives you a contract or tender which you do not qualify for. You would not want the same demand made to you. It is not business-like.
In cases like these, it’s important to take the friend factor out of the equation and consider if you would really work with the person or their business if they were a stranger. That's because running a business is much different than maintaining a friendship.
So when a friend asks you to quickly draw up a masterpiece logo for their consulting business, work up a price quote for them, in writing. This will avoid the problem of a possible misunderstanding and eliminate wrong assumptions that can embarrass you as well as affect your friendship, the reason you got to work together in the first place.
Sometimes acquaintances are hoping for a freebie without coming out and asking for one, by putting it all on paper, it takes away that uncomfortable conversation that could possibly happen – paperwork keeps the transaction business-like and professional. A professional price quote helps the “client” remember that is what they are when asking for work – a client, not a friend.
If this fine line is well balanced, you will all prosper and so will your friendship. I mean you have more reason to be together and share. But that is if you drew the line right from the start to avoid any bruises both to business and to friendship. If you focus on doing things right as well as doing the right things, the friendship may flourish along with the success of your mutual relationship.
Tuesday, December 6, 2011
Talking business
Last week,while attending the YouTube Uganda launch, I met a lady I have always admired,for her writing. She makes Technology sound so everyday,which in reality it isn't, according to my farmer's mind anyway.
While we talked,she mentioned my earlier articles in the Daily Monitor and how she scoured my blog all through to look for inspiration! Really? This blog?
And how I had stopped writing entrepreneurship after a while,and she stopped visiting.
I have two types of guests here.Those who come looking for some business sense and those who enjoy the banter. I respect them both equally. But I have always had a conflict of defining the blog and who I write for. Being the nature of blogs,I tend to write for me,what comes to my mind,but the readership is definitive.
So this week I made a decision,to split the blog. I will keep writing entrepreneurship and business here,with a light touch of course,but I will take the humor and bizarre stories to www.njukimoments.wordpress.com
That will be my other home.
You are welcome to stay.
I believe that no one can teach you about money. You have to do it yourself and money matters have never been fair,you are either at an advantage or you are being taken advantage of.That is why I choose to learn about money.
Writing about money and business does not make me an expert.Not at all. I am merely sharing my experiences. My successes.And most often, my failings.My mistakes.
So I will share here as well as there.Take your pick,though I hope you pick both.Because they are all thoughts I put together hoping someone will either enjoy them or learn from them.
Wednesday, November 30, 2011
Help, my boss is my junior
Without asking, every employee gets to the new job expecting bosses to be older, juniors to be younger. We have been used to that play where older people than us are more qualified and have more skills and therefore tend to be promoted more than us.
The trend has changed though. You may find that your boss is actually your junior in age; of you walk into new employment to realize you are the youngest in age and more senior in rank. What do you do?
Employers are increasingly taking a liking for qualified young people. MBAs which took years to complete can now be easily completed by energetic and bright young people. When they come to work, they know what to do, they have the drive, the ambition of youth and they are not tied down by age-old ways of doing things.
But also because more countries are pushing retirement age up(we have had our own debates here) you are likely to have your parents’ age mates for work colleagues, some who may have failed to adopt to the use of computers still preferring wash -out to the delete function key.
A lot of people look forward to retirement, but a lot of times one retires and they have nothing to do. Age old traditions and ethic are suddenly redundant and your body clock fails to adjust. In a lot of cases, these people may resume work, a lot of times in consulting.
Have you watched Morning Glory? You should. Older guys can be hard to manage.
So, then there you are trying to manage this 'younger boss, older employee' work politics.
Do you read Forbes Magazine?
You should. But then why should you when you read this blog! I have quoted here.
Here we go:According to Forbes Magazine, the generations' different work styles and perceptions of each other can create many challenges. One of them is the perceived difference in work ethic. For instance, older workers tend to believe in face time at the office. "They show up early, work through lunch and on the weekends," says Linda Gravett, co-author of Bridging the Generation Gap.
Your average junior executive on the other hand was raised in the Internet era, where it doesn't necessarily matter where the work gets done, as long as it does."
These days we even have people working from home and getting paid better than those who wear suits to work.Bloggers for example.
Therefore you will notice older employees coming to work at 7.30am and leaving shortly after 5.00pm while the younger ones will come in at 9.30 am and won’t mind staying at work longer, given as they may not necessarily have family commitments yet. As the leader you are going to have to manage both these groups with their attitudes and work ethic.
Another difference: Older workers are used to meeting more regularly to discuss projects and goals, whereas younger bosses are more likely to hand an employee a project and let that person run with it. "The communication styles are different," says Robin Throckmorton, co-author of Bridging the Generation Gap. "Younger bosses tend to say, 'Shoot me an e-mail.'"
Know that you have earned your role
With such dynamics in play, you are likely to feel intimidated by the age-politics. However, you need to believe in yourself. Know that you have earned your role and much as they may be senior in age, you are their leader and they need to be mindful of that. Don’t question your own authority. Older employees are not your parents, in fact they need to get used to you telling them what to do. That is your job.
However, do this without delineating them and try your best to keep them as part of the team where they feel they belong are assets to the team.
Encourage participatory problem solving and feedback
A lot of times, this type of older employee will know a lot and have a wealth of experience. Tap into it. Encourage participatory play at work. It is doubly troubling for a ‘more experienced’ employee to feel that that they are being ignored and their younger colleagues are passing off as more knowledgeable. You may lose them on the team or their contribution. Work along with them and encourage sharing.
What is the actual goal?
The reason you all find yourselves that engaged is that you have work to do. That is the higher motive. Do just that and push aside any discomforts that may come with stereo-types outside the office. As leader, this will be exactly your role since at the end of the day, measurable results are what is expected out of you no matter the mix of team differences.
It would probably help to recognize that, even when age is not an issue, learning to be a boss takes practice. After only a couple of months in the job, you may not yet feel secure enough in the role, which may in turn be causing your teammates to lack confidence in you.
Friday, November 11, 2011
Seriously, you wear that to work!
One day, as I was getting ready to go to my newly acquired job, I picked this cream shirt, with cufflinks and it had a matching tie, but I decided to leave that one out for now. May be another day; I told myself.
It also turned out that that was the same day that our Country Director would be visiting our office, so there was a flurry of activity around the office, and you can’t blame a new guy for wanting to impress!
Moments later I was at work, ready to meet the supreme boss. For some reason, he seemed to have noticed me, something I took for the aforesaid cream shirt. He even called my manager aside and whispered in her ear while indicating where I was seated.
Other than that, the meet-the –top-boss activity well without a fuss, till tea time when my manager asked me to stay a while, and could you please wait in my office? She asked me.
For one who dressed to impress, I didn’t even have a single disturbance in my mind that there was anything amiss. She probably wanted to compliment me on my effort to dress well. You know, employees must be complimented on every small effort they make, it is part of motivation; thoughts were running in my head.
Closing the door behind her, she seats herself behind her desk and studies me.
‘You know what we do here. Don’t you?’ Which kind of question is that! Of course I could recite, with eyes closed our vision, and mission statements.
She continued. “We work among the rural poor, those affected by disease. We seek to make a difference in their lives through skills development.
What I mean here is that we are a Civil Society Organization. This is not that kind of place where we wear gold cufflink’s while working with people who are looking for a few thousand shillings to buy their children food and medicine.”
This was not going well.
“The Country Director has suggested that you go home and change, and in future learn to dress more appropriately.”
The meeting was over, and because our stakeholders, as we called them, had already arrived, I was saved the trip home to change and instead spent the whole day with my sleeves rolled up, cuffs and all.
My next shopping trip involved picking up more short sleeved, chequered shirts and khaki pants that ensured I blended in well with the work environment.
That episode above marked my first lesson on how to dress for work.
Now let us get to you.
According to Forbes magazine, the way you dress affects how others view you. It's nothing personal, just business. It is also true that a lot of professional women and men are guilty of multiple fashion faux pas without realizing it, and their lack of judgment can sometimes lead to being passed over for a job or promotion. For the women for example the biggest fashion mistake you can make, is showing too much cleavage. It's distracting and inappropriate in a business environment. Dressing in what is seen as sexy attire may get you viewed as less competent; regardless of your skills and experience.
Of course we also wish workplaces came with manuals for everything including how to dress to work. Some actually do but even those who don’t expect you to figure it out.
The best advice experts give is to simply look around the office: Is your manager one who rarely takes off his jacket or, perhaps, does the Company President favor short skirts and skinny jeans? The fashion and social service industries, for instance, ordinarily have much more relaxed dress codes than, say, law firms.
Even if your position doesn't require you to see outside clients, you are still "making an impression on your boss [and] your potential future boss," notes Heather Kleis, a human resources adviser.
Don’t take it that being overly conservative the key to advancing. Don’t. As you may have noticed I was more overdressed that under dressed-if there is such a word. Mark though that despite the lengthy manual and pep talks from the HR manager, asserting a little bit of individuality and personal style can boost your confidence and ability. Remember that statement as you make career advancement plans- the way you dress affects how others view you. It's nothing personal, just business.
Saturday, September 3, 2011
in the job market,think exit when you gain entry
This may sound unnatural. You don’t start planning you leave when you get somewhere new to work. But the truth is, that by the time we come to the end of our lives, we have worked several jobs. Unfortunately, much as we plan to get the job, we rarely plan to leave it. We are most times asked to leave, and we do, with surprise written all over our face, cursing the boss.
True, we do not get this suggestion when we sign the contract, but if you checked well, that contract does have an end-period. No? So in your employer’s eyes things could swing either way. If you still need each other by the end of that period, contract will be renewed, and if not, you will be asked to leave.
The message has been passed on already. You signed a contract. Meaning you may or may not be at that desk beyond the contract period. But if your employer is thinking that way already, why shouldn't you? Two years later, when they announce we will not need your services any more and your heart starts racing. Didn't you read through the contract?
So, gird your loins. Work hard enough as if it is your last day, but don't be blinded, it’s only you who is in charge of your future, and it is going to be much longer than that two year contract.
So how do you get ready to quit on the first day?
Know that this is just a pit stop. Use it well, but there is more ahead. Plan for it. We work for different reasons. Mostly it could be to earn a living. Some of us work to learn while others work for fun. Whatever your reasons for going to work, have an exit strategy in mind.
Be the best employee.
You could give your best, and it is only fair when you do because that is why you are there in the first place. However take responsibility for the job you do. In being the best at what you do, you create a niche for yourself. Your co-workers and team leaders will love you for it and you will be indispensable. Be the employee you employer cannot do without. Even when hard times come and some people have to be let go, chances are that you will be the last on that list because you add value to the company and you are needed around to weather the hard times.
Study more. Learn as much as you earn.
Employers will do anything for a competent employee. If your job needs you to go back to school, do that. If you can learn on the job, do that. Be as productive as you can be. The more you are willing to improve your self to do a better job, the more your employer relies on you and the longer they are likely to have you around as well as share their benefits with you. Make your employer know you are indispensable, by working smart. Create solutions.
However, much as all this may be one, the days of permanent and pensionable employment are long gone. There may be a time when you really are asked to leave. Be prepared for this and don’t be drawn down by stress and anger. The people who are the best at what they do also tend to attract other offers along the way. What this means is that you have so many employers head-hunting for you and you are spoilt for choice. That could be the best insurance in the job market. Be the best you can be. Word spreads fast. And whatever you are looking for, finds you fast.
Tuesday, August 2, 2011
How to milk your cash cow
Milk is great for the development of babies. Cash is the milk of business. Cash flow is the process of managing that milk. When you have a business, built or inherited, it is wise to refer to it as a cash cow.
Now, whether you have seen a live cow in real life or not, does not matter. Educate your self on the behavior of looking after milk giving cows. But I use that as a figure of speech. Money that comes into the business is for the business, and the shareholders in that order, just like milk that a cow may have is for the calf, and the owner of the cow in that order.
However, it is not that kind of order that sees some businesses struggle. Every business leader will tell you that sales run business. You need to sell, sell. True. They do not however tell you that after sales, collections are as important. You need to attach as a strong a force to sales as to credit collection.
If yours is a small young business chances are that your HR department is watching your head count strictly, so they will allow you in a few sales people every once in a while but when credit department asks for more man power in collection, they may develop cold feet. Don’t encourage it, my friend. You see, much as you are taxed of invoiced on money not received yet, in real life the only money that is really yours is that which you have in the bank. Billions owed you is not your money yet, till you collect it.
At any stage of business, especially at the young stage, how you collect from debtors is as important as how you sold to them. Yours could be a cash based business, and in our economy, those are many but at particular times as you grow and in order to develop more lasting relationships, you may find yourself extending credit to ‘good’ clients. Watch out; these may lead to your death, if you do not collect as soon as the accounts are due.
I had struggled through the worst two years of my business and I was looking to expanding slowly. At that time, my business dealt with Supermarkets, and shops, if you may. Reason being, they had a customer base which I was looking to tap into. Only challenge was, most of them were credit based. They would order, you deliver, and then collect accounts when due. For most of them accounts could be due in a week, but for some, they could take a few weeks, say three. However, in the mean time, supply orders were flying to and fro and threatening e-mails were being sent once an order delayed.
It is during this time that what I thought was a life saving deal came through. The biggest outlet then entered the market, and suppliers like me queued up to supply our wares. Knowing their strength in size, our agreement stipulated payment within thirty days after delivery. However, that did not mean we were not mandated to supply every time stock went low (and it did quite often weekly). I found myself making more supply trips than cheque collection trips, to my detriment
You see, a situation like that means you need to have enough resources to produce and supply as you wait for maturity of your credit. You may even borrow to meet orders, and by the time the cheque is due, if you get paid as promised, that is, you have interest to pay on the loan as well.
That is dangerous for business.
If you remember our analogy to the cow, you are milking without feeding enough. It may collapse soon. So go and pick up that cheque when they say you should. When they ask you to wait along, please wait..and when they tell you to come back in the after noon, be there. It is your lifeline. It is those small uncollected monies that grow into huge debts and they cripple the business, and no matter the size of the payment if not picked when due, urgency especially from the payer reduces and they could play dumb or divert it. Don’t give them opportunity to be dishonest. Pick your money from them urgently. It serves you both very well. You better actually.
entrepreneurial loneliness: how to stop it before it kills the business and you
Let me guess, the reason you left employment to go start your own business is all the stress that comes with collecting a monthly paycheck. Right? And the fact that all that stress does not take you anywhere; look it is all of seven years since I have been on this job and I have not moved at all. Hence my health cannot take it any more. I need to create something of my own. Okay, we agree.
So you start, and then you hire employees and you run a business. Suddenly, seven years on, you are stressed, your employees cannot seem to find answers on their own; they are always consulting with you this, and that. The systems you so trusted in are not any helpful and for once you even get stress from customers. You are looking for that all –purpose- shampoo to wash these problems out of your hair.
You promise your self that if you just hang in there for a few weeks, or months perhaps years, everything will be alright and you will suddenly be living your dream. You wait it up for weeks, which turn into months which turn into years and you are more stressed than before. In fact, more complex problems have since replaced the simpler ones you had earlier.
So what happened?
You are suffering from entrepreneurial loneliness. All those experiences above are not the cause, they are just symptoms. You forgot along the way that your are not superman and that when you hire people,they do not just come to take away problems and work, they have feelings too. They have moods and temperament and sometimes they cause more problems than they solve. Unless you can manage them, and do that very well, on top of looking after their welfare you are also going to be cleaning after them.
You can’t blame your employees, you hired them. Systems? You supervise those who create them. Clients? You hired the employees who found them. I am just here to be a little in your face and tell you, it all your responsibility. So, either take it away or it may just take you away, with your business. Probably in that order.
So what does one do?
Get a mentor.
Mentors are people (preferably entrepreneurs too) who have gotten a lot more ahead that we have. This should tell you they have suffered as much as you have, but the have either unearthed solutions or they just created them. Find one, and share. A problem shared is a problem half solved. Ditch your macho ego and admit you’re up to your neck in problems. You will come out better.
Find a partner.
Okay, partners have their own challenges. They can be a pain in the neck, and other places. I wanted to warn you even before we go further. But that is the cost you have to pay. But as they say, two heads are better than one. If you failed to hire your weakness, as in hire people who are smarter than you in some aspects, don’t repeat it here. Find a partner who complements you. If you are like me and figures are not your best friend, then get someone with accounting skills. Or if you would rather die than cold call a customer for a sale, hire one who lives off sales and marketing. Suddenly you won’t be lonely anymore and it is likely you will come out of this with way to less stress and more problems ticked off.
Read.
Libraries don’t just exist for students. They also have enviable stock of business management books. Basically, think about it this way. What ever you think, chances are someone else has thought about it too. Don’t believe me? You will be amazed. There are all kinds of people, management professors, entrepreneurs and ex-entrepreneurs who have either theorized or experienced what you are going through. They have answers. Look for them and apply them.
Network.
Now days, the are all kinds of associations wherever you live or work. Join up and get busy networking with like minded people. There are marketing associations; join up if your problem is so related. The are also entrepreneurial associations. Here you will find like minded people who think they have all the answers but they are slowly accepting the fact that if they did, they would not be thus troubled. So they come here to download and share and give a little advice at the same time. This is where the doctor ordered. Share as much a possible and ask for answers if they are not forthcoming.
Delegate and take leave:
This seems like madness, right?(You could say you now have confirmed your worst fears that I am a bit deranged and unfit to give advice). In my defence, I have never had my head checked, so I can still pass for sane. But you may want to explore this if all else fails. You see, the more you concentrate on a problem, the more it seems to grow. When you take your eyes off a mountain, suddenly it doesn’t seem that huge and impossible to climb. You may also be surprised just how other people may have answers to your problems and you just need to ask. A junior member may surprise you with just how much they can solve if only given the mandate to have a go at the challenge. Do that. Also, rest gives your mind energy to find new solutions. So take a vacation, and you will soak up some unbelievable angles you never imagined could be used for solutions in your head.
Emmanuel Njuki is a motivator and entrepreneur.
njuki.emmanuel@gmail.com
Wednesday, July 20, 2011
fall seven times,get up eight
My friend,who we shall call Geraldine, lost her job two weeks ago.She has been working in a fairly specialized industry and she had to train all of seven years before she could get her first qualification. Now that she has been laid off,not many other employers will be very eager to pick her up,since her experience and training are not relevant at all to their industries. I could appreciate her feelings,but what is done is done and a new life awaits.
When we had this talk,she was inconsolable(still ,I understand),but my intention was not to pass on consolation. I told her that all we could do is acknowledge the situation as it and start planning for the future.
The truth is,not many of us are where we would have wanted to be...and a lot of us blame this on something,or someone,that boss who fired you,your parents who forced you to study a particular course that you did not like.There is a lot to blame. You want to go on? Be my guest: The economy,the dollar rate or even the fact that you were born Ugandan and not Russian,for example. Every motivational speaker will tell you that you are what you think you are...and that you cannot go where your mind has not been. Very true. It is during moments like these that we need our positive attitude the most.Give your mind free will to take you places.You will be surprised what you come up with.
But not many of us will make sense of these facts.We will be inspired for a while,go home with a happy face,but reality sets in by morning and we are back to where we were,jobless and sometimes hungry. I suspect the reason I was told this is so I can get my friend a job,isn't that what friends are for.But she didn't say.But even if she had,I doubt I would have been useful in that aspect. You see,a positive attitude and no money or skills will always beat a poor attitude and skills;throw is some experience too,if you like.
Ask how many entrepreneurs shave had to start all over again when their lifetime empires come crashing.They lose much more than just money.Its a lifelong dream. But the only way is to cry a little,pick your self up and start building again. That is what termites do too every time someone crushes the anthill.(But to be honest I don't know if they cry).But they build,sometimes from scratch yet again. Sometimes they change location,and start again. Having lost a business once,my biggest lesson then was to perhaps start all over from a totally new environment.
I know people who have re-invented themselves several times and tried out something new every time what they were doing failed. A lawyer turned dee jay, dentist turned comedian and they have succeeded at their new vocations.They did not whine about their many years of training and preparation for the legal and medical fields respectively.
So,I say here,what I said to Geraldine then.Take time off for the shock and anger to wear off and resume living.It is going to be a little hard,but it doable.Since you received specialized training,do you think you could even star ton your own.Serve the under-served clients in that field! You could even forget education for a while.Imagine if you had not gone to school,how would you have done in such a situation! Start there.So,whether your set back is a job you have lost(and there a few given these tough economic times) or a business that has failed,your best life is ahead of you,go a head and claim it. That is why the Japanese say,fall seven times,get up eight.
Sunday, July 10, 2011
hell on heels
The next time you feel a particular employee is not giving their best, invite them to the board room, draw the blinds, set up a big projector and slot in the movie The Devil Wears Prada.
You see, in the employment world, we don't always go where we love, sometimes we take jobs ranked Z on our list(A-Z in line of most and least desirable)but as long as it pays the rent, why not! We even fantasize we may grow to like the job. That is how life is. And since most employers have been employees before (entrepreneurs inclusive) it should not be hard for you to realize someone is just growing older on your premises and getting away with doing as little work as they possibly can. Hence the movie.
I only mean to use the movie as a motivational tool, so take it as such. I know there in are some romance scenes; we shall ignore them this time.
Let your choice employee sit close enough in order not to miss the dialogue, especially between Andrea (employee) and Miranda (boss). A lot of employees miss to understand that their employers have needs too, like getting as much work done with as little resources as possible. That they also watch the bottom line, so you can have your rent money at the end of the month. But because it is none of your business, you reason, you may instead put forward the fact that after all you did not want the job that much, you are only here till your favorite job comes along.
It is the responsibly of he entrepreneur/team leader to use whatever resource they have to the maximum, this includes employees however sick- in -attitude they may be or unwilling to be useful. Just like Andrea, they may actually despise your type of work, or the company where they have come. That is not your concern either. Now that they are here, work must go on. If you have tried all types of positive enforcement and you have failed, let them ‘act’ the movie only as a last resort. Role play is good for the memory, ask the army. (Why did you think they were watching it in the first place? For entertainment?)
Pushing an employee too hard with almost impossible assignments gets you to know who to keep and who lose. People react differently under pressure (including work pressure) but they are unlikely to react with afterthought. You get to see who they really are at the core. At this point, you could even role play a little, like getting them to secure you a flight to South Sudan Independence celebrations a few hours before the National anthem. It seems very hard, but it is not impossible. By the end of the assignment you will know who exactly you are dealing with. Just how hard can they go if pushed!
You may also be surprised to know that the reason, said employee is sitting on his laurels is just because there was no reason to do better. They may even do impossibly well to get you off their back. But at least you will have learned two important lessons, how does their attitude pan out and just how hard can you push them to deliver. You may be surprised you have an achiever in your hither to celebrated office slob.
I admit, this is a really cruel way of find talent and un developed potential, but life is lived in raw form and people, like clay, are raw material to achieve better and grander creations.
By the end of the movie, you employee would have realized that there are people out there who perform under pressure, even unwillingly, and they have supporters. But they would also have realized that they have to make a choice, either to adapt or to move out (after a few sessions of crying their lungs out and calling you some un mentionable names of course).
Lesson to them, like Andrea be even more surprising.They can actually do better than they ever thought (like when she gets the unpublished manuscript for Miranda's twins, surprising even the boss herself).More importantly, they will have known that life is full of choices, and every single moment we choose what we want. If they leave, you have one less headache; if they stay, you have just polished up a new diamond formerly in the rough, and they will owe you for along time.
You see, in the employment world, we don't always go where we love, sometimes we take jobs ranked Z on our list(A-Z in line of most and least desirable)but as long as it pays the rent, why not! We even fantasize we may grow to like the job. That is how life is. And since most employers have been employees before (entrepreneurs inclusive) it should not be hard for you to realize someone is just growing older on your premises and getting away with doing as little work as they possibly can. Hence the movie.
I only mean to use the movie as a motivational tool, so take it as such. I know there in are some romance scenes; we shall ignore them this time.
Let your choice employee sit close enough in order not to miss the dialogue, especially between Andrea (employee) and Miranda (boss). A lot of employees miss to understand that their employers have needs too, like getting as much work done with as little resources as possible. That they also watch the bottom line, so you can have your rent money at the end of the month. But because it is none of your business, you reason, you may instead put forward the fact that after all you did not want the job that much, you are only here till your favorite job comes along.
It is the responsibly of he entrepreneur/team leader to use whatever resource they have to the maximum, this includes employees however sick- in -attitude they may be or unwilling to be useful. Just like Andrea, they may actually despise your type of work, or the company where they have come. That is not your concern either. Now that they are here, work must go on. If you have tried all types of positive enforcement and you have failed, let them ‘act’ the movie only as a last resort. Role play is good for the memory, ask the army. (Why did you think they were watching it in the first place? For entertainment?)
Pushing an employee too hard with almost impossible assignments gets you to know who to keep and who lose. People react differently under pressure (including work pressure) but they are unlikely to react with afterthought. You get to see who they really are at the core. At this point, you could even role play a little, like getting them to secure you a flight to South Sudan Independence celebrations a few hours before the National anthem. It seems very hard, but it is not impossible. By the end of the assignment you will know who exactly you are dealing with. Just how hard can they go if pushed!
You may also be surprised to know that the reason, said employee is sitting on his laurels is just because there was no reason to do better. They may even do impossibly well to get you off their back. But at least you will have learned two important lessons, how does their attitude pan out and just how hard can you push them to deliver. You may be surprised you have an achiever in your hither to celebrated office slob.
I admit, this is a really cruel way of find talent and un developed potential, but life is lived in raw form and people, like clay, are raw material to achieve better and grander creations.
By the end of the movie, you employee would have realized that there are people out there who perform under pressure, even unwillingly, and they have supporters. But they would also have realized that they have to make a choice, either to adapt or to move out (after a few sessions of crying their lungs out and calling you some un mentionable names of course).
Lesson to them, like Andrea be even more surprising.They can actually do better than they ever thought (like when she gets the unpublished manuscript for Miranda's twins, surprising even the boss herself).More importantly, they will have known that life is full of choices, and every single moment we choose what we want. If they leave, you have one less headache; if they stay, you have just polished up a new diamond formerly in the rough, and they will owe you for along time.
Thursday, July 7, 2011
when it is time to write your business proposal
Forget the time you wrote letters at school (nodding to this may lead to actual revelation of your age, beware), with technological advancement, there are fewer and fewer times when you really must communicate formally, either in writing or in typing (is there is such a thing).
You realize we put our points and opinions across without need for formality both in thought or expression. A status update will suffice, just like a text message could be all the update you need to your banker, employer or employee. Not so with investors. If I have found a crop of old fashioned Club members, everyone investment related seems to belong here. With reason.
On the other hand, people who branch out into entrepreneurship are rarely your average guy or girl on the block. Some of these people border on creepy. A lot of them are talented. They don't just think out of the box, they don't know of any boxes. Ideas flow effortlessly and they seem to have a crazy out-of-this word way of seeing and doing things.
The meeting of Investors and entrepreneurs therefore, is one you want to experience. It is talent meeting money. You, my entrepreneur friend may need to prepare well. The best acceptable presentation of all time is the business proposal. That is why I referred you to your old letter writing ways. It is one thing having a great idea, it is a totally another league presenting that idea for funding. You need to know what you are doing.
You could argue that if the idea is yours and you are running without any outside funding, you have no need to write the business plan after all. Wrong. As you grow, you will attract more people, be they employees or partners. Your head alone will therefore be insufficient as safe custody for company ideas and solutions. You need to put them where they can be seen, read and filed.
Reasons why:
A lot of us will only find reason to write a business plan, at the start of our business and we seem to think we shall never need one again. Wrong, again. A business plan is a working document one that should have life and therefore should grow with your business.
Most of the people associated with business plans or proposals are social entrepreneurs. If you belong here (in the civil society world), read on because most of resources (financial mostly) are outsourced, you need to be able to write a flawless business proposal and since the end of the need to do good is not anywhere in sight, this is a skill that will serve you well in life.
You could also be a business person, working for profit, and for bankers and investor and partners to join you in the venture, they will need a plan or proposal.
Most importantly, it is when you grow bigger that you need this even more, you may want to invest in another country or be accorded investment privileges that come with big investors even in home countries. You will therefore need an Investment license and before that an investment or business plan. Several billions later, when you need to raise more resources or take a company public be sure number one requirement will be our friend the business plan. How else will people invest with you if they don't know how you do what you do!
The format:
I regret, we may not be able to go through everything about writing a business plan here, but I will give you what you need to start with.
Whether research means asking questions or scouring the internet, do it. Get information about your potential partners, what they want and what the don’t. You may also need to learn all about where you do business, like who else is in the game with you and how good or bad they are. You may not have needed to know this before, but someone will definitely ask, so be sure to have an answer.
In line with that, ask you everything there is about your business .
Why, well, exactly why are you doing business and why this next step?
How? Telling how you intend to run business.
When, for timelines.
Who, for everyone on your team, now and in the future, and be sure to answer all these till there are no more questions.
The budget, for materials. People who may need to be paid; time that may cost, say foreign exchange changes and inflation, other material.
In a nutshell the cost implication of each and every activity that will be undertaken in your plan.
Note, at this point, that if you are the kind who had high school letters written for you, then you need to find someone here too. All I am saying is prepare well, even if you need to quire external help
Make the presentation of your life, both in writing an in person if you get the chance.
However, remember that if you are unable to present your case on paper in less than three pages, don’t be tempted to write more. Speaking or writing more does not always mean hitting the point. Sometimes less is more and these are some of those times. If someone is not interested or convinced enough in three pages of great presentation, you won’t do better in forty.
Sunday, June 26, 2011
there is no such a thing as failing a job interview......
If you are out of school, congratulations, you are soon to embark on the new job of finding a job. In effect, you have already got a job, to search for a job..And I am not kidding or being sarcastic. Reality is that if you whole heartedly would like to be gainfully employed as they say, you need to go to work and give your all to the job at hand of finding a job.
By a mere stroke of luck I have found myself in this situation before (don’t we all) but I have also found myself observing people who are looking for a job at length. Now, employers do look for specific aspects in a potential employee, but don’t be fooled; however professional the search is and how well worded the job ad was, the panel is still composed of humans, who, like all humanity have predictable behavior. We like people who seem to like us, for example. Friendly people are easy to get along with and we do hope they make better employees. You could have a great track record of leadership and performance and achievement, but if you are ever not selected for job you interviewed for, don’t beat yourself too much, you did not fail the interview, you were just not the right person…and that is not failure.
I don’t want to delude you that there fore there is no need to prepare for the interview, the whole point of an interview is to present your best side, so work on it, but you can relate it to a date that even when your best is not seen as such you don’t say you failed a date, so why an interview! There are special circumstances of course, like when your potential has been misrepresented. Some of us only blossom in familiar territory - one brief interview may not be enough to show you in all your glory, hence the need to prepare, but this need should not be taken to give a picture of who you are not.
We shall agree here that if you have held a job before the last thing you will ever pray for is to be accepted for a job for which you are not suited or that is not personally stimulating. You don’t want to live your life like that. Therefore, other than wearing clean clothes and well kempt hair; working on your accent and polishing up your current affairs (like who the Minister of Portfolio is) also know that one of two things will happen. The panel will either find you suitable or not. If they do, you have every right to celebrate. That is the reason you applied.
If they don’t however, stay calm, and look at things the way they are, you did not fail, it was not an exam, it was an interview you simply did not fit the picture they wanted. Apply for more jobs. Remember, that till you find one, this is the process that should occupy you more. Put time and tact into it. Eventually you will find your calling where everyone is happy with the outcome.
Of course I am making this argument on the premise that you are otherwise fairly qualified for the job you are applying for and someone just happens to be better, the other assumption being that you are fairly treated and you had a good fighting chance, and may be there is just one required out of seven hundred applicants, like the norm is for Civil servant’s jobs. Otherwise, if you are a qualified Accountant and this is your twentieth rejection for a simple cashier’s job, barring over qualification assumptions, then may be you are living proof that one can actually fail a job interview.
Sunday, June 19, 2011
the excusitis disease and how to find help
Dr.David Schwartz diagnosed a disease among people in all walks of life. He even gave it a unique name based on what causes it.He intimates that people who are normally called failures have this condition in advanced stages.
I am not in the habit of doling out self help information and neither do I want to be referred as a know-it-all telling you who to listen to or which books to read in order to get better. But if you are the reading,or the leading type with people you need to motivate in order to get work done,The Magic of Thinking Big is one book that I am sure would serve you well.
This particular chapter came to mind recently after attending a do-it-your self presentation. Much as I realized that a lot of people were appreciative for the information shared and there were obvious signs of envy for the guy who was living the life,a totally different side turned up when we interacted after the presentation. The side that gives all reasons why we cannot do what others have done.Those who have achieved are either con-artists or have had an unfair advantage over others.Such voices tend to be so loud they wont give opportunity to positivity. Granted,we all recognise that it takes inconsiderable effort and opportunity to be successful,but it starts in self belief. We all want to live a good life,where money is more than our needs.We all want to travel and afford life as we know it.I suspect that that is why we listen to people who have the life we would like to have. The people who have lived in places and countries we want to live in .The people who drive the cars we would like to drive.The people who live in houses we would like to live in.It's as if we want to confirm just how good our life will be when we archive our dreams by observing others.
Why then would we decide to find reason not to be what we dream of? Confusing? That is what Dr Schwartz calls the 'excusitis' disease. People afflicted with this disease find reason not to get started. They will dig deep and find all possible reasons why something cannot be done,especially by them.They may hide behind age;they tend to be either too young or too old.Education;they are either with little education or not the right education. They may hide behind health,always with a condition which prevents them from being who they want to be. They may also hide behind luck and the fact that the universe has conspired to deny them their life's joy at all times. The list is big.It is a self defeatist mentality which unfortunately once rooted leads people who have real potential into real failures.
The truth is that all of us have the same opportunities in life.WE all have twenty four hours in a day,for example.No one is created with an extra heart or a bonus pair of hands.Yes we are gifted differently,but there lies the diversity of our strengths. We can get whatever we want no matter our background,our education,our faith or even how powerful our ancestors are. People who we look up to in life have achieved what they have, not without challenges,and grave challenges at that.If you listen to them,they could have hidden behind a lot of excuses just like the normal average guy,but they didn't. Some have found success despite being foreign in the country where they find themselves.Some have battled with the limitations of poor health,old age,death of parents,abuse as children,no contacts,no education or even several false starts to make it in life.They could have thrown in the towel when met with hard challenges but they didn't.
If you recognize even a miniature thread of this condition, take a few steps. It may also be that people you are responsible for,people you lead may have this excusutis condition.Take heart ,it is curable.
Develop a positive attitude.Look for what you can do and not what you cannot do. Realize that your mind only works with what you feed it.If you choose negativity and why you can't, it will work overtime to give you reasons why you cannot do what is at hand.On the other hand if you challenged it to give you reasons why you will succeed, it will give you thousands of reasons why you will succeed.
Decide to live for now and not for the past.The past is gone and you cannot change it.Look at the opportunities you have now and use them.Go for them with all you have.
If it is poor health you are worried about,the fact that you are still alive and not dead yet means you have more opportunity than most people.Stop feeling sorry for yourself and live with what you have. You are alive for a reason,poor health or not.
Life is too diverse for us to know everything,so we only use what we know.Education is good,but if you focused on education alone you may not have time for anything else. Use what you have. The greatest singers did not go to music school...and every time you fail,throw a party,you have found one more way that wont work and you are getting closer to what works.
Tuesday, June 7, 2011
Transform talent into business
Tim is a globetrotting celebrity photographer. He is good with the camera and he flaunts it. His equipment is his life and he lets everyone know on first meeting. He boasts about the fact that he can make his rent money over a week end and life can only get better.
The first time we met, we didn't have a lot in common, so conversation did not flow that well. It is on the second meeting that we got beyond the usual, hello, and nice to meet you. Since you already know that I do, I won’t dwell on that but rather share what Tim shared. Other than being a bit jealous of a young man who makes his rent money in a week end, I also got a lot to learn from my friend Tim.
"The journey here has not been easy. But I love photography and travel. I am blessed I am doing what I love. Since these two are my passions, photography makes the money and pays the bills while travel gives me the exposure and well, that is where the money is spent."
He didn't need to elaborate much. Both times we had met on trips.
“I decided I will be a photographer when I realized that is all I want to explore. It didn't pay the bills at first, but I lived on what I had to make it last. I am luckier these days. I am so on demand, sometimes I have to keep clients waiting. Full events get rescheduled because my calendar is full"; he continued.
I could only marvel.
"So what happens if you are unable to make it for a really important client? Do you pass on the chance? What happens when you fall sick?" I asked.
With this look that only very wise people can muster, he looked at me long and hard, as if wondering how I could ask a question like that. I waited.
“You see, I work like a musician. He only gets paid for days worked. If he was booked for a concert and had a bad throat, tough luck." he reasoned.
"But does it have to be that way? I mean you have been in the field that long, you must have spotted young talent that you can groom to fill in for you."
"You are not listening, my friend. By the time a client calls Tim, they know me. They can rely on my work. They will not allow anyone else to do that." The lesson continued. “And besides, by the time someone is good enough to do the work I do, then they are good enough to get their own work."
From my experience. That was not so. A lot of talented people prefer a steady pay check to the life of hustling on their own. They would rather work with an established artist than strike it out on their own. Not because they are not equally good or even better in some aspects, but because security of income is top of the list in most people's lives. I told Tim as much and told him that there may be some really talented people out there, and it doesn't hurt to get them and play mentor. Or even employ a few. Set up a business structure which will keep work going and money flowing even when you are unable to be there physically.
Several months later, and Tim had a shoot in our lovely town. He called me up.
"Man"; he started. “I cannot put a price to our chat the last time I was here. I am glad we talked.
I waited.
"Two months ago. I went to visit my sister, and her two year old son woke up when I entered the house. I went to get him. As I was bending to pick him from the mattress on the floor, my back snapped. Those were the most painful two weeks of my adult life. Not just from physical pain but also from the fact that clients' work was waiting. It’s only then that I thought about what you said the last time we talked.
My first company was registered last month, and I have you to thank for it. Even when I travel, I know work will still go on"
May be I should start charging for consultancy.
notice of intention to sue
The first time you ever receive one of these (notice of intention to sue), you will have a bowel movement. Sweat suddenly decides to leave your body at great speed, your throat is suddenly very dry, and you may develop a stammer.
By the time you get here, there must have been some background, and this may seem like the justified step to take.
Unfortunately in business, situations where you have to resort to courts of law often occur. Here is when you need a good lawyer. Although some would argue that if you had used one in the first Place you would not have got here.
Assuming you are the aggrieved party, you may have to prepare well, unfortunately one way to do that is to put more money aside. This process can be costly.
But what happens when you are the one being sued? The answer doesn't change much. Prepare well too. Call up an equally good lawyer, (big firms first, please), though your banker could be of help here. Luckily most disputes in business revolve around money and unless there is simply bad blood and ill intention, you may be lucky if you have a friendly banker.
Truth is, lawsuits are often a pretty poor way of resolving business disputes. The problem however is that we have yet to come up with something better and so litigants are usually forced to make some hard choices.
The cost goes beyond money. You will spend a lot of time, emotions flare and you are not immune either from being sued in return.
Sometimes though, that is the only way to get justice, closure or just recover what is lost. I warn you though. It is quite draining, and to both parties. You may also need to check in with your doctor before a big show down.
Of course there are ways to avoid the suits and you could try some.
Threaten a lot of action. People in business generally dislike litigation and work to avoid it. Use that. If you have a grievance, consider hiring the big names (firms and individual lawyers), have them threaten to sue, but offer to settle for less. Your defendant just may come to the same conclusion that you did – that a lawsuit is just not worth it – and therefore may look to settle.
Being willing to settle for less than you are owed is another sometimes wise action: If you want to avoid the expense and time of a lawsuit it is almost a guarantee that you will have to settle for less than you want. Be happy if that is the case. Plenty of defendants will not settle. But if your good lawyer friend offers a reasonable settlement, and the other side agrees, you just avoided paying a lot in legal fees, and your Accountant will be the happier for your action.(Did you know good lawyers bill by the hour?)
Walk: Not every dispute is a litigation-worthy dispute. Even in the best of cases, you should think that your odds of winning are 50-50. The judge may say yes, or she may say no. It's 50-50. Of course some suits are better than others, but you just never know what a judge may return with, and your work my friend is to make money, to do business, if it is not worth the fight, don’t waste your time.
But you only have these choices if you are the aggrieved, other wise if you find yourself on the opposite side; this is what the Bible says;
“Come to terms quickly with your accuser while you are going with him to court, lest your accuser hand you over to the judge, and the judge to the guard, and you be put in prison.”(Mathew 5:25)
Monday, May 23, 2011
and that is how industrialisation took place
May be its just me, but every time I tour a big factory and look at the intricate network of machinery in perfect coordination, I just can't help but marvel. And I try to imagine myself at a point where I can put perfect sense to the workings of those machines. It even gets better, since I have this childhood ambition of becoming an industrialist, while the guide is explaining away what this machine does and what that machine does, I am far away in a far off pace in my mind wondering just how I could put a perfect price to that maze of machines and how I would determine that this, and not that machine is the better one for my industry.
One day the day-dreaming caught up with me, and I decided, I was going to mechanize, with disastrous results. At that time I was selling eggs, most of them to supermarkets, packed in nice little plastic trays with a green label. So, I decided, since I sell eggs, I can also sell their mothers, the chickens. And the plan was hatched. However, unlike eggs which come ready to sell, chicken need some preparation, so to say, if they will be sold through the same outlets.
True, I knew how to use knife on a chicken, but then how about the parts. Who even comes up with those names, like drumsticks, breast; on a chicken? So I go buy a packed chicken from a nearby supermarket to start my study of packed birds. That was lesson one. More were in store for me. I also realized that a knife alone could not suffice. I needed more machinery. Yeah. Machinery. The puzzle was unraveling. Then the visits to machine show rooms began, and you should have seen me, trying to explain to bewildered machinery sales people what I needed to cut up chicken ,and mostly getting blank stares as if to say, go disturb some one else. Haven't you ever heard of knives!
After several searches, I decided on my ensemble of machinery and where to procure them. I needed a butcher knife (you know what for) a tray sealing machine, a work table and a deep freezer. A few other consumables would also be necessary. So I got to work. Due to the fact that I couldn't head hunt from established enterprises that did what I was planning, (salary and other money issues) I decided to do it myself.
The receiving clerk at the supermarket didn't know whether to be horrified or to laugh. So she decided to carefully ask me what each part was while checking it off my order and delivery note. She was even kind enough to educate me how breast for chicken actually means breast (not breast and back) and, Sir could you compare what you have just delivered with this from storage? I had no answer. But I was taking mental notes fast. I took quite a beating that day, and I did my best to be brave and learn about meats and chicken portioning, from a supermarket receiving clerk. My next delivery was more acceptable and several orders later, I had some one helping me part time from the established competitors.
I have learned a lot since then. I have also found outsourcing such a life saver. At some time we were churning out delicious local chicken gizzard at a good rate. There was this client who instructed the supermarket orderlies to notify him every time we delivered so he could buy the gizzards before any one. We were stuck with more gizzard orders from the store than any other chicken portion. We had to explain both in writing and in person that gizzards come from slaughtered chicken and each chicken has just one, and a pack of gizzards means about twelve chickens gave their lives so the pack can be complete, therefore we can not just slaughter chicken for gizzard only. Orders had to be complementary. That was a challenge even intense mechanization couldn’t take away. But my awe for machinery and production lines has not gone away yet.
Sunday, May 15, 2011
CONGRATULATIONS, YOU HAVE THE JOB. OH WAIT, NOT QUITE
I would not be writing this if a certain accidental occurrence had not happened in my life. A particularly bone -cracking incident that changed my life. Purely accidental, it was. As a result, so many years later, I have had this rare opportunity to sit on either side of the table. Seeking a job, and seeking to give a job. Each side has its interesting aspects.
When you go out to seek a job, your interests are very clear, a lot of times. You need a monthly pay, may be some medical allowance, you will work from 8 to 5, unless you work in the strong room in a bank.(and you will expect to be appropriately compensated for over time in such circumstances) You have your rights and you are quick to point them out, if you as little as suspect they are being infringed upon. First among employee's rights is to be paid salary on time. Not a day late.
If you choose entrepreneurship however, the tide changes, you realize you are the employer now, responsible for other in your fold. But we are getting ahead of ourselves. How did you get here in the first place? Business is tailored in away, like a merry go round. The more, the merrier. And there is so much to do; you need more hands every time. One time you realize you need to hire some one to carry forward some work, while you are busy fitting the business puzzle together and we all know it rarely fits from an office. If at all, you are rarely in office. The four walls don't seem to be able to contain you. This task is carried out like your first bike ride, you have the confidence, but no skill whatsoever and a few falls are eminent. Woe unto the first candidate you choose to interrogate (because it is more of that than a job interview). At this point, not even you the supposed boss know what you want or even know how to get to it. You are prodding in the dark, hoping you do a good job about it.Un be-known to your soon-to-be employees; the only systems that exist at this point are only in your head. There are no manuals, no guides, and sometimes not even enough work tables.
Sometimes you select fitting people. A lot of times you are not so lucky. Because you didn't know better any way, don’t beat yourself up too much. However, you have to make up for this flaw with being easy to let go. If you don't fire all incompetent recruits as soon as you know you have them, you will soon end up with the worst team any team leader could dream of. But it is not their fault; you chose them out of naiveté. Unfortunately, business must go on. It's at this point that you realize the biggest turn over, soon to hire, soon to fire, till you get it right. You may get bruised too; a lot of people do really walk the streets a lot before they even get a chance at an interview, let alone a job and a desk. Firing them is like throwing them into an abyss, yet gain. Some won’t go without a fight. Do it with kindness and refer them to appropriate employment, if you can. But you must know by now, that it is more in business than anywhere else where the adage holds, that it is okay to make a mistake but you can only make i t once. Learn fast, correct and move on. You may be sued a few times.
Of course a few will leave on their own, having not received fulfillment in current employment, or just fed up of running battles with creditors that tend to characterize young businesses at this time. Wish them well, and keep doing your best. But all through this, look out for loyalty. This is a trait that is priceless, and however much you train, this is not a trait that is easily learned in old age. One either has it or has not. And it is people like this who will stick by you even in the hardest of times. Make a point to reward them appropriately as you grow.
Wednesday, May 4, 2011
Lord, I need a partner
So, you have searched your brain.You have double checked your business plan too. You have just scrutinized your bank statement. Something is wrong. You need an answer, and an answer fast. You have come up with all the justifications for you r choice. You just need to act now. So the search begins. A search for a partner. (This, my friends, is a business column. No lonely hearts here. We are talking business partners.)
Just like the social scene. People who fit in to what you had in mind are not far off. I mean, they are people we see every day. People we admire, people we pray we emulate (sometimes.)We could even share a church. Your search probably starts from your phone. You check the names and appraise them. You write them down, with notes on the side. Pros and cons against each. You could also ask around for a perfect fit. You are looking for people who are a bit like you .You think alike. The ambitions are alike, and they make great partners.
Maybe you succeed, maybe you don’t, but you try again, till you get one, or two. Business life, just like social life can get lonely at times. It also has that canny habit of making you feel insecure, a tad unfulfilled, in need of more company, or even thinking heads. Sometimes more hands.
The truth is partners are worth their value in gold. Well selected, that is. They make hard life a walk in the park. They make hard situations easy. They financial support makes friends out of creditors....and life doesn't seem so lonely after all. So every one’s prayer is that they be directed in their steps to find their perfect partner. Say a prayer before you start the process. You don’t want to choose wrong.
Because entrepreneurship is not just about money, and how many trucks you can fill with it, getting a business partner cannot just be about how much money you are going to make. Entrepreneurship is a lifestyle, a haven of sorts for people who think alike and cherish the same things in life. The freedom, that comes with directing your thoughts and operations. The creativity, finding solutions and who are we kidding, the money. But it is not just the money. In cases where you may have failed or ignored to consider the fact that you are stuck with this person almost for life, you have my pity and prayers too. You will need them.
There are going to be nasty situations where you don't agree, where their opinion is theirs alone, and because there is money involved, such arguments, are more like fights. Forget how we fought when we were young, adult fights are more long term and consequences maybe dire. You need to find someone who you share something with other than that business. In fact the business and the fact that you are partners should be a result of your other relationship, not the other way round. You need a friend, someone who understands you and vice- versa and someone with principles you can rely on.
You see, business comes out of character. Our business takes on our persona. If you are geek of some sort, your business smells the same (yeah, smells geeky, if you like). If you are a friendly person, who loves people, people around your business feel that trait on interaction. Therefore, you are not just doing yourself a favor, you are setting a good foundation for employees, clients and all stakeholders in doing your very best to get the very best partner. Someone who complements you .Someone whose strengths back up your weaknesses and someone you will want around you and your family even after business hours.
Because, my friend, if you ever get unlucky or pretty silly and end up with the wrong partner, you are in for a long ugly marriage.
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