Tag Archives: Start Up

Strive Masiyiwa: Building an Efficient Organization – Part 5


 

__Process: getting the right things done right.

For the last few weeks, I’ve talked about the critical importance of “people” in organizational management. Today I want to talk about “process.” Every single day, I’m approached by people with great business ideas, and I also have my own fair share of new ideas. Sometimes I just love to sit in my study, or go for a walk, just thinking about a new business idea.

Let me share with you one of my best kept secrets: If I can’t get my mind around the PROCESS, I’m not going to do it!

I have to feel I have a deep understanding of how an organization will emerge to take this great idea forward. I can easily take 50% of my thinking time on this. Once I get my mind around the process, I can then focus on the right PEOPLE to make the right things happen.

__Process and people are the backbone of the organization.

Now what I mean here by “process” is the series of actions you take in order to achieve an intended outcome or result. Within one business, several different processes usually take place – raising capital, strategic planning, recruiting and training staff, research, product development, product testing, marketing and so forth.

When I first started in business, I was still very young, and had worked for just a few years. Fortunately, my two employers had been a computer start-up, in Cambridge, England, and a state-owned enterprise (SOE) in my home country, Zimbabwe. In both organizations I’d made observations about how companies are set up and run.

I loved the start-up, which had only two owners. Decisions were made quickly and I got my chance to do all sorts of things, even though I only had a freshly-minted engineering degree! The SOE was the exact opposite: it had rigid organizational structures. There were many highly-skilled and qualified individuals, but decisions were slow.

Whilst I enjoyed the mission of the SOE, I knew I had to get back to the start-up environment. I nevertheless took away a critical understanding of how big organizations work, including their political culture.

If I’d been able to choose, I probably would have first joined a large international organization before I went off on my own. I certainly would have loved to get an understanding of “best practice” from an international organization like Coca-Cola or GE, both of whom I greatly admired. The opportunity was simply not available, so I did the next best thing… I bought books about them.

My favorite books were written by entrepreneurs, explaining how they set up these businesses. At weekends I’d just disappear into my own world of Sony, IBM, Coca-Cola — the great companies of my day. I didn’t just read, I devoured their material!

SEE ALSO: Strive Masiyiwa: Building an Efficient Organization – Part 1

I wanted more, so I moved into the really academic work of people like Peter Drucker and W. Edwards Deming (Google them). I had all their books and articles.

In my own country, I’d constantly ask questions about the organizational structures of well-established companies. Information was always limited back then, not like now with the Internet!

As a young entrepreneur in Africa, it won’t always be possible for you to start your own business after a professional career in an established organization where you can learn all the ropes, and study processes.

# You still owe it to yourself to try and close the deficit in your understanding of what it takes to organize and build an effective business organization.

# You may not even be ready yet to have people working for you, with all those fancy titles and positions, but you still must have the intellectual curiosity to do your homework and understand what’s really happening!

If you don’t understand the processes that help you build and run an efficient organization — managed by capable, highly motivated professionals — you’ll struggle, wear yourself down, and probably end up bust, or worse.

Let’s get down to business, real business. We’re good managers, what about you?

THE END

Strive Masiyiwa: Building an Efficient Organisation – Part 4


__A great vision needs great people.

Organizational management is really about “people and process.” If you don’t know how to master these two, it doesn’t matter what you’ve invented, or how much money you’ve raised… you won’t make it in business.

It’s usually really hard to get the best people to join you when you’ve just started a business because you’re (rightly) considered too risky.

It’s particularly difficult when you, the founder, are yourself young and inexperienced. I know what I’m talking about because when I started out almost 30 years ago, I was only 26 years old and didn’t have either the money or reputation to attract people to work with me.

So I understand why most people in that situation will often turn to unemployed relatives and friends, who can sometimes be unskilled and even troublesome. Believe me, I’ve been there, and done that!

I almost laugh now when I look back, but I hired some people who were downright incompetent and almost got me killed… Remember I’m an electrical engineer by training, and some of my early recruits as electricians did not quite measure up!

In my own case, my partner and I did almost every kind of job in our little business. There was simply no room for “pretending to be the big man”! When we did a job for a customer, I was there myself, and sometimes when we finished, I joined the cleaners to make sure the customer’s premises were left clean. We did the work, the cleaning, the invoicing, and the books. We woke up early, and went to bed very late.

I never complained because it was “honest hard work” for a young man, and I enjoyed it. I interviewed every single person that I hired very carefully. I always looked for people who were skilled, sober, honest, and prepared to go the extra mile. I knew them personally, and their families.

I tried to be fair in every aspect of my dealings with my employees. It wasn’t just that I considered myself an honorable man, but I also knew that “people talk.” I wanted word to get out that I was a “fair guy” in an industry where people were often exploited, and owners of businesses were known to think of themselves first, particularly when they got paid, as I discussed last week.

When I did get paid, the first thing I tried to do was invest back in the business. In particular, I wanted my staff always to have the best tools for their job. I also wanted them to be proud of their employer. I was fastidious over things like uniforms, presentations and appearance before a customer.

Knowing that I didn’t always have the opportunity and money to hire the most skilled people, I focused a lot on training and workshops, which I handled myself. I drilled and drilled my staff. We talked about each job, and I allowed everyone to say something about what we learned. It’s great to have the big idea, but you must have an eye for the details.

Then one day it happened: I got a call from an engineer who worked for a highly reputable and well-established player in our industry. He wanted to join me. And soon it was a flood, with people prepared to take a pay cut for the opportunity to work with my young company.

Now remember what I said earlier: “People talk.” You want them to give you and your company a good reputation, one that attracts the best people to your business. The best people are the most profitable. That’s business!

In his bestselling book, “Good to Great: Why Some Companies Make the Leap… and Others Don’t,” Jim Collins writes, “Great vision without great people is irrelevant.”

Do you have the right people in your company focusing their time doing the right things?

Top Businesses that Can Fetch you Much Money During Christmas


 

Christmas is a season where celebrations and fun are usually at the peak. To those who are business-minded, it is also an opportunity to make big money while the celebrations last. Entrepreneurs who desire to make huge gains during the yuletide can give these 10 money-spinning business ideas a try:

Continue reading Top Businesses that Can Fetch you Much Money During Christmas

How to start a profitable Blog and make millions online


 

start-a-profitable-blog-ft-img

Please this is not the regular step by step guide to starting a blog. I am strictly focusing on starting a profitable, successful blog with respect to business principles. So I will shun some conventional wisdom and generic guidelines. If you are ready to learn, then let’s proceed

 

 

why do i start a blog:

So you want to start a successful blog? Have you ever asked yourself why you want to start a blog ? You may think this is unnecessary but in reality; it might turn out to be the underlying line between success and failure.

Why do you want to start a blog ?

You must answer this question before even developing the idea for your blog. People start blogs for different reasons and this simple reason may be a determinant factor to your success or failure in blogging. The reason you start a blog will determine your mindset and approach towards blogging. If you start a blog simply for the money; you may never get it.

Linda Ikeji started her blog because she identified a need. She observed that Nigerians like gossip, and they like poke-nosing into other people’s affair; while ignoring their own problems. So she started her blog and now she is making money from it.

I started this BLOG   to fill a need; I started this business blog to help entrepreneurs solve their intricate business challenges in return for a profit and this is the sole reason why I don’t consider myself a blogger or internet marketing expert. I am strictly an entrepreneur; I serve and solve other people’s problems in return for a profit, not wages or salary.

And because I am an entrepreneur, I have to think like one. This led me to work on developing my business or entrepreneurial skills. This blog is not a job, neither is it a hobby; it’s a business. But something I want you to note is this; I did not start this business blog solely for the profit; if I did, I would have sold it off a long time ago

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The primary reason why I started this blog was because of the leverage. Yes, I want to use this blog as leverage to greater heights in the future. The profits may be pouring in but the leverage is more important to me and I don’t mind sacrificing the profits to increase the leverage. Leveraging this blog can be done in several ways but I think that’s a topic for another day. Leverage is the reason I started this blog; what’s your own reason for starting a blog ?

 

Develop Your mindset:

This is always the first point I stress whenever I am sharing information that challenges you or requires you to take action. Before ever venturing online to make money or earn a full living, you must first see yourself achieving it. You must believe it is possible and achievable regardless of your region or country; whether United States, U.K, Ghana or Nigeria . You must see blogging in Nigeria and making money online as a possibility; all I am saying in essence is that you must challenge your self doubt and laziness.

Ultimately, you must be prepared to leave your comfort zone. After challenging your self doubt, you must set a specific goal or target. What is your expectation online? It might be to make your first $100 or to become an expert in a niche. Whatever goal you set, make sure it is achievable.

 

find a Niche :

Search for the perfect Niche
Search for the perfect Niche

You have probably found a tangible reason why you want to start a blog; the next thing will be to find your niche. Just as you find a market for your product or service; you also have to determine your niche online.

:idea:Who are the main targets of your blog ?

Now what is a Niche? A Niche is simply a small group of people with a common interest. Examples of popular niches are:

Beauty
Food
Vegans
Angel investors
Dog owners
Football fans
Students
Teenagers
Sports Betting
Forex Traders
Weight Watchers
Pool
Arsenal Fans
Chelsea Fans
Man U Fans
Singles
Game lovers
Housewives
Nursing Mothers
Careers
Dating
Education
Marriage
Making Money and so on…. 

Therefore Niche blogs are going to be blogs related to different topics that a select group of people are interested in. The reason for this is because there may be a lot of people interested in a particular topic but don’t know where to go to get more information about that topic. That is where you come in; to provide the content they need and in return these visitors will buy products from you or click on your ads to generate a nice income for you.

Niche blogging is more powerful because you don’t have to compete with other competitors for the same crowd. Armed with the right knowledge, you can go into a niche and completely dominate. A good rule of thumb in niche blogging is that your niche must be a high paying, low competitive niche. If you can’t figure out a niche to target; then you have no business starting a blog. Without the customers; a business has no cause to exist, so also does a blog without a niche.

 

Define the Blog mission:

What’s your blog’s mission? What do you aim to achieve with your blog ? These two questions make the big difference between profitable, successful blogs and the average blogs. A blog mission may not be important to you if you are starting a personal blog; in this case, your personal mission will be your blog’s mission.

But if you are serious about building a successful business blog that will stand the test of time; if you want to start a profitable blog that will grow with or without your personal effort, then you should forge a mission statement for your blog.

 

set your goal and objectives:

To build a profitable blog, you must set goals and objectives. You must have both short and long term goals for your blog; your goals will be the benchmark on which to judge your blog growth rate. You can use traffic, income or subscriber base as a yardstick to analyze your blog growth.

 

Define your brand strategy:

This is one of the most important factors most people overlook when starting a blog from scratch. Your brand strategy in the long run is going to determine the value of your blog, its relevance and its overall potential. Now how do you define your brand strategy?

It’s quite simple. Your brand strategy begins with you answering this question: Are you starting a personal blog or a business blog? Your personal blog is your personal brand; it’s a blog that reflects your life values and culture.

Now is POSPITIPS ONLINE  business or personal blog ? Well, it’s a business blog because it’s not attached to me; it’s a business blog because it has its own core value and culture. I can go on vacation for a year; yet this blog will keep growing geometrically because it has been programmed to run on auto pilot without me.

POSPITIPS ONLINE  has its own life to live and I have mine, same with any other  business blog. The worst  thing with a personal blog is that it might live and die with you but a business blog lives on because it doesn’t depend on your personal influence to survive. Business blogs also hold more value than personal blogs. Asset transfer and sustained growth in a personal blog is quite difficult without retaining the founding blogger.

 

Develop your overall strategy:

Another essential factor that will affect your quest to start a profitable blog is your overall strategy. Your overall strategy should be one that you will stick to no matter the storm. It’s a proven strategy that almost guarantees success and every other strategy will be hinged on it.

One of the reasons I was able to build Pospitips online to this level with no marketing or advertising budget was because I started it with the mindset of an entrepreneur. I started it on the same principle I use to build my offline businesses. I started it with an overall strategy; a strategy I have tested and proven in my offline businesses. What’s my overall strategy?

My favorite Quote➡➡➡➡ success in life does not depend on ability But determination

 

join a community related to your Niche 

The third step to making money online in Nigeria by Blogging is to join a community related to your chosen niche. For instance, if you have researched and discovered that a niche exist for guitar players, all you have to do is join social networks and forum for guitar players. Joining this forum will help you see the problems or needs existing in the niche.

I am a member of several communities related to business, entrepreneurship and investing. These communities bring me closer to my targeted niche. Using these communities as leverage, I can have a sneak preview into the minds of entrepreneurs to know the challenges they are facing currently. When you address the problems of people and offer them a solution, you draw them closer to yourself and make them loyal readers of your blog.

 

Build the Blog system:

This is where you build the structure that will host your blog; this is where you put up the necessary system that will house all your operations. Your blog system includes domain name registration, choosing your hosting platform; choosing a blog platform and setting up the blog. This process is similar to finding a location for your offline business, obtaining permits and buying your office equipment.

Now what is the best small business blogging platform ? I don’t know. What I can advice is that you choose a blog platform you understand its technicalities. Seth Godin built a successful blog on Typepad, Dave Lucas built a blog on blogger; while Steve Pavlina built a profitable blog on WordPress. Success can be achieved on any platform, just make sure you understand its ins and outs.

 

Define your operational tactics:

Your operational tactics entails how you want to run your blog; your overall budget and the time you’ll allot to building the blog.

I also made a policy that I will run the blog on lean budget until it begins to fend for itself and pay its bills. Now, my blog is run full time by my team. That was my operational strategy and it worked for me because I planned it before even starting this blog.

You want to start a profitable blog?

How often will you publish articles? Here at Pospitips Online, I publish Once in every week. How much time will you devote to you? How will you schedule your limited time to make sure every system is well taken care off ?

This you must plan and sort out before even starting a blog. Most people have asked me why I disabled the comment module on this blog. Well, it’s an operation tactics that works inline with my overall strategy; concentration. I will rather concentrate my effort on writing quality content that yields result than waste my time moderating comments.

I have less time so I chose to concentrate my efforts on things that matters most. That doesn’t mean you should follow my steps; find an operational tactic that work best for you and stick to it.

 

Define your income strategy:

What is your income strategy ? The root of this question boils down to why you want to start a blog. Are you building a blog for cash flow or capital gain? Are you building a blog to hold or flip? Are you building a blog for earned, passive or portfolio income ? These are questions you must answer because they will determine how you generate revenue from your blog; they will determine your monetization strategy.

I have seen bloggers brag about how they make thousands of dollars from their blogs but most of them are only thriving on earned income; meaning they make money by keeping an online job. I will give an example; if you run a blog that directly generates $50/month but you earn $5,000 from by providing writing services, then you are still an employee working for a salary. If you stop writing, your income will drop because you are on earned income.

I have also seen bloggers who generate full revenue from their blogs without even having to run it. I consider these individuals true entrepreneurs. Even if they go on vacation for a year; their blog income will keep growing because it doesn’t depend on them.

This is what I call passive income and it’s what I’m concentrating on. There are two types of bloggers; those who build a business and those who build a job, which one do you want to be.

 

I’ll continue later But i think this will take you a long way .  Share your thoughts below

how to Start a bread bakery business in Nigeria


 

Bread
Bread

Bread is the third most popular food staple in most parts of the world. It is widely consumed across the continents by almost all citizens, ethnics and religions groups. Everyone likes the smell and taste of bread, especially when it is freshly baked. It is one of the quickest and cheapest food to get your hands on in time of hunger.

With these in mind, we can safely conclude that starting a bread bakery business anywhere in the world is going to be a viable business.



Like I have always said, the best product to deal with is the product that is in high demand in the market and bread happens to be one of such product.  Continue reading how to Start a bread bakery business in Nigeria

Starting Your Own Business? what are the Benefits?


Thinking of starting your Business? 

its a good thing when the resources of getting started are in place. Also, having your own business established means you are practically taking a step to take control of your life, and your dreams.

There are literally countless business ideas floating out there.

Some are brand new ideas while others have been successfully implemented by thousands of people. Many of these ideas are simple, straightforward, and inexpensive to start, while others are a bit complex.

Starting your own business may require a lot of process. But in my own opinion, I advise you to start small and simple, using your own hard-earned resources to execute the idea first.

Then the success gained and your entrepreneurial spirit may motivate you to take your business to the heights you may never imagined. But you will never encounter such success if you do not give it a shot.

There are lots of benefits of starting your own business and some of them you might never know until you give it a trial.

Here are tips and motivations that can help you to start a successful business:

Independence And Flexibility

When working for yourself you tend to gain more freedom and independence. And once your business is firmly established, you’ll probably have the flexibility to make sure you don’t miss the moment and events that matter to you the most in life. You work your own hours and if you want to take a day off you don’t need to call the boss.

That does not mean starting your own business is a passport to relaxation, it simply means you’ll have the freedom to decide when to work and when to rest. Sometimes, starting your own business could even mean working harder but you make that decision and not someone else else making it for you.

You Decide Your Income If you are an employee, no matter how hard you work, you will always receive limited income even if you are the most efficient and most qualified employee. If you are a business owner there is no limitation to how much money you can make. Your income will depend on how good and efficient you are in running your your business.

In a nutshell, you are the decision maker and everything lies in your hands. If you are extremely ambitious, starting your own business will give you freedom to compete and set target for yourself to even compete and become one of the very rich persons in your niche and community. You decide when to retire depending on how much money you’ve made and even when you retire, your business will still be making you money.

SEE ALSO: How to win and retain customers in Business

Personal Fulfillment In Your Own Business

Having your own business can be more satisfying than working for someone else. Many successful small business owners enjoy the respect they get from their peers for having the courage to go out on their own and set up a business.

You are not limited in applying your creativity, you have the freedom to experiment and take calculated risks that you dare not do if you are working under someone. When such creativity and risks brings positive results, you become the most fulfill person on earth.

You become a business creator and not merely a product of business creation. You can brag about your achievement and enjoys all the recognition you get.

To Learn New Skills The more you work to build your business, the more you will realize how little you actually know. As your business expands, you will learn time management,marketing, general management, book-keeping, new types of problem solving, tax implication and so on. You will learn plenty about yourself and what you can handle throughout the life of your business.

Don’t be surprised if power is one of your goals, you will acquire power through your business and keep learning the skills of managing your power. In your business, you have employees who are out there to do your bidding your way.

However, if power is important to you and you really want to retain it, think of using it in a more constructive way to build positive value.

There Are Organizations To Help You Success There are non profit organizations out there to help you succeed in your new business. They will provide you with guidance, specialized expertise, and even offer services in helping you establish your organization up and running.

Small businesses are very important in the economy because it represents one of the workforce.

There are several organizations that you can search on the web that have the resources to help you with any advice that you will networking need for your business.One of such organization is The United States Small Business

Administration which is a Government agency that provides resources, guides, and advice to small business owners and startups.They also provide tools such as business plan software, etc.‘Doing Business’ which is powered by World Bank Groups another powerful resource platform for business startups.

SEE ALSO: How to win and retain customers in Business

Here on POSPITIPS ONLINE also we make effort to provide you with some of the finest business ideas to work on. Having a vision Most new business owners realize the dream of doing business through their own visions of how they can do things better.

Your vision or idea often comes from businesses that are not providing service or products, and you feel you could improve them if you own a business that render such services in more effective and efficient ways.

Once you have a vision for a business, it is easier to turn that vision to reality. The quality of employees you hire could also determine your success or failure in a business. How many times have you sought out business products or services and dealt with poor customer service people? By hiring the employees that will get the job done, you can make your business better.

Income Expectation Small business can be profitable. It is not only big corporations that pulls in big profits. They are countless stories of entrepreneurs landing a solid idea and exploiting it for a large financial gain. And from a selfish point of view, you get to keep more of the profits if the business is your own.

Starting your own business affords you the opportunity for professional growth. Entrepreneurs get to try there’s hands in all of the business from marketing to sales and business development. This gives business owners the ability to be more creative and become involved in the whole process of starting and running a new venture.

This can also lead to more business opportunities in future as entrepreneurs learn all factors that make their business successful.

Did you learn anything from this report?

Share it with us through the comment section and help to empower others.

How to Start an Architectural Firm


 

Continue reading How to Start an Architectural Firm