Category: Business

Journey from zero

Couple of years ago in Nigeria, it was an offence to have an alternative livelihood or side business as a civil servant. Here we are years down the line the space is fast changing with many registered businesses for contract and other needs. Entrepreneurship is becoming a fad; everyone wants to own, start or run a business or something by the side which is a plus for our economy. More and more of these businesses are needed as the dearth employment and scarcity of job is still a stark reality.

The narrative of going to school in order to get a good livelihood is fast becoming a fable with endless wait and timeless hope on what should be, this can be frustrating for stakeholders – family and friends.

Here is the catch, desperate malady requires desperate medicine. Drastic steps to take is to get to ground zero in the mind’s eye, act like you don’t have a degree and you dont have anything or anyone. . . until we drive ourselves to the point of not having options, we will still be dependent and hopeful on someone. If you ever get caught under water, the first thing to do is to find a way to breathe first!

Two major enemies of the young people and our society are EGO and SENSE OF ENTITLEMENT. Family and friends also do not help matters as they readily offer their pressure, opinions on perception which are oftentimes illusions. I always like to share my story: I remember picking up the first available offer after NYSC having ditched one juicy one by saying my plans and desires as they were! The offer was as a front desk officer in a church: this didn’t go down well with everyone around me! They all felt the job was not befitting for a graduate – frontdesk job and a church.. see combination and that I should look for something better. I simply told them to let me know when they get a better offer for me. It wasn’t rosy having my way but I stood on my will to embrace opportunities as they come no matter how little. And I honestly didn’t care about ego!

Before you complain what someone didn’t do or should have done, what have you done for yourself and what are you doing for yourself? You are the architect and the only one who owes you the future you see in your mind’s eye, so write your story. Right after writing, do your story!!

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Daily Drucker: The purpose of a Business

12 March
A business enterprise has two basic functions: marketing and innovation
If we want to know what a business is, we have to start with its purpose. And the purpose must lie outside the business itself. Infact, it must lie in society, since a business enterprise is an organ of society. There is only one valid definition of business purpose: to create a customer. The customer is the foundation of a business and keeps it in existence. He alone gives employment. And it is to supply the customer that society entrusts wealth-producing resources to the business enterprise. 

 

Because it is the purpose to create a customer, any business enterprise has two-and only two – basic functions: marketing and innovation. These are the entrepreneurial functions. Marketing is the distinguishing, the unique function of Business.
 
ACTION POINT: Find out what needs your customers want fulfilled today. Determine how well your products are meeting the needs of your customers.
 
#DailyDrucker
#PeterDrucker
#BusinessPurpose

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Olubamike Fadipe March 12, 2018 0 Comments

Value points of life

A couple of weeks back, a friend of mine put up on social media group thought-provoking questions on articulating and auditing our belief patterns. The questions she posed revolve around a tripod stand – GOD, BUSINESS, MONEY and I’ve chosen to add PEOPLE on the second leg. It is believed that what we believe, imbibe and do about these key points will go a long way to determine how we fare in life.
I have begun my own journey into the audit exercise, it’s ongoing. Find below my attempt at the exercise, its definitely not a standard nor is it final! As I learn and know more in life, I believe that my belief patterns also will be updated. 
 
As a man thinketh in his heart, so is he”

These are the points for thoughts:~

  • Identify Five (5) personal beliefs about GOD.
  • Identify Five (5) personal beliefs about PEOPLE.
  • Identify Five (5) personal beliefs about BUSINESS.
  • Identify Five (5) personal beliefs about MONEY
Personal beliefs about GOD:  
  • I believe God is all in all, creator of heaven, the earth all that is in it and all that will yet be, He is alpha and omega, the beginning and the end.
  • I believe Jesus Christ is the beloved son of God given up for our sake in order to gain life here and yonder (eternal life).
  • I believe God’s passionate love is expressed through His Holy Spirit, He’ll not allow us fall or falter and when we do, He picks us up.
  • I believe I am Christ’s and Christ is for me and I have same authority and victory that He earned, not by works but by grace.
  • I believe God has His plan for our lives and He’s got unique deals He unravels by and by.
Personal beliefs about PEOPLE:  

 

  • I believe people – humans were created in God’s image and likeness and have same invaluable worth of life irrespective of color, race or ethnic group.
  • I believe what we become is not a function of color, race or ethnic group but a function of level of knowledge and depth of opportunities.
  • I believe every human is made of more and made for more!
  • I believe we were created to belong at home; with families, friends and folks and our best is when we are at peace with all.
  • I believe the best style for living is loving.
  • I believe existence and survival of every institution, system and group can only thrive with people 

Personal beliefs about BUSINESS

  • I believe that ideas and visions rule the world and that businesses are a by-product of ideas.
  • I believe for every idea and vision, there is provision; the beginning of wealth is identifying people’s needs as stimulus for ideas and solutions generation in exchange for currency.
  • I believe that solution to diverse human needs are hidden in humans and that we all have significant contribution to offer as solutions to the myriads of problems now and in the future.
  • I believe success is never ending and failure is not final, with continuous innovation, invention and creativity, the world will keep going round!
  • I believe that every enterprise and business is to be worked at, built upon, structured, organized and recreated for sustainability, systems and processes. I love order and structure!
Personal beliefs about MONEY.
  • I believe money is a tool. Money has no character, it takes on the character of the holder.
  • I believe money answers all things but cannot replace all things.
  • I believe the absence and lack of money (poverty) is the foundation of many vices.
  • I believe the volume of money one will have is dependent on the size of problem s/he is willing to solve, solve big problem and earn big.
  • I believe true wealth cannot be gotten from monthly wage or salary! Riches and wealth come from cumulative of consistent and progressively increasing earnings, streams of income (active, passive & residual), returns on investments, savings.
These exercise feels like an opportunity to articulate values system and keep it as an active reminder. And as the end of season for 2016 rounds up and 2017 beckons. Let’s start thinking, let’s start seeing and let’s start doing. . . 

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Olubamike Fadipe October 23, 2016 7 Comments

A bite of a share. . .

Everybody wants to have their share of good life. We all have desires, ambition that drives our life and everyday living. We go in pursuit of a beautiful and desirable life and to have our own portion of the goodies in life and live a great life. Businesses are not left out in the desire and drive.
Market share for businesses sounds like having a portion of a freshly baked cake! And yes, it feels like that! The bigger the portion you can bite, the better it feels. Achieving a big bite in the midst of limited size, dynamic changes, market forces and deep competition is a feat. A great bite of market share is a bite of life for a business as it will undoubtedly impact on profit. It is a battle to be won by every enterprise with vision for continued existence. It is not one-off drive, it’s a continuous effort.
Market in this context is not just a geographical location, it’s rather an invisible space that directs the force of reality in the business world. It is more of a group of sellers, buyers, producers of goods and services that are identified with a similar line of product or service, bound by common ethics, rules and regulations. Gaining market share is simply gaining customers and all effort geared at widening customer base, increasing marketing territories and ultimately for profit.
For an entrepreneur to thrive in the highly dynamic and competitive market, it’s important to do the following :-
~ Understand your target market.
~ Know all the written and unwritten rules of the market.
~ Know your capabilities, strengths, opportunities, weaknesses and threats.
~ Know the leaders of the market space; study their style and their offers and pinpidentify the leaders of the market space; study their style and their offers and pinpoint their weaknesses;
~ Leverage on others’ failures in the design and delivery of products and services
~ Ensure continuous quality delivery at all times
~ Offer value added services.
~ Go the extra mile.
~ Invest in excellent customer service and in building relationships.
~ Create platforms for interaction for your clients and prospects, maximize the social media.
~ Collaborate, partner with and patronize your clients. It’s a mutual benefit world.
Don’t get busy selling products or services or making money, get busy building relationships – BF

Olubamike Fadipe is a writer with a passion to inspire, impact and motivate for everyday living.
Email: bankysanya@gmail.com                Twitter: @Bankysanya

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Olubamike Fadipe April 27, 2016 0 Comments

Start where you are. . .

That business idea, that initiative, that book, that design, that project, that product, that blog, that business and that training that you’ve been waiting to do has expiry date. The earlier you set at it, the better.
 After waking up to the dream, desire or need or next step, the next critical questions are when to start, what to start with and how to start.
For the question of when to start ~ my only option is NOW! In your hesitation, competition is been created. You might think an idea is your special baby and you’re the only channel and while you’re still thinking and brooding, someone down the road either comes up with a similar idea or more often than not, a superior version of your idea. Then your position will be the second place hoping you’ll make effort to incorporate a unique selling point (USP). Time is of essence and it cannot be replaced.

The question of what to start with has been a pertinent question to be answered by anyone who has milestones to be covered. It’s always cheaper to start with what you have, no matter how large an idea is in the initial, there are smaller steps to be taken in the immediate. Identify resources that are from within you and those that are external. If financial resources are readily available, act like it’s scarce, streamline expenses and needs and in situation that financial resources are scarce
The question of how to start remains the critical one dependent solely on the ideator, a function of individuals attitude, drive, inclination, energy levels and etc. Some people start their dream path anyhow, hoping that the t’s will be crossed and the i’s will ve dotted along the line; some folks prefer to have everything spick and span, ordered and well arranged before starting out. Know yourself and stay active in the area of your strength. Start with what you have, your time, intellect, your skills, your vehicle, your space and etc. Navigate your path from known points to unknown points. The challenges on the known points prepare you for the next level of unknown points. Start with family and friends as your first set of clients. Start with a sustainable level of standard.

Olubamike Fadipe is a writer with a passion to inspire, impact and motivate.
Email: bankysanya@gmail.com                   Twitter: @Bankysanya

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Olubamike Fadipe April 19, 2016 0 Comments

Business beyond today.

Businesses spring up everyday and the drive to empower small businesses has become a global means to building dwindling economies. Small businesses have become the sure route towards sustainable and thriving economies. Every enterprise has a visioneer/founder, Directors/decision makers, team, clientele, vendors and etc. These groups of people are stakeholders involved Business in the success of any enterprise; they have defined contribution, stake and reward geared towards the success of the enterprise. When organization succeeds, these stakeholders benefit and when it fails, crumbles or go bankrupt, they are affected also.

Personally, it grieves my heart that indigenous organizations that are a century in age are scarce in this clime. It is worrisome as there’s no certainty that the existing organizations will survive the next century if drastic measures are not taken. In this clime, the rate at which businesses spring up is as remarkable as the rate at which businesses fail, fizzle out or go bankrupt. Looking back, I can’t count many companies that I knew as a child that are no more, these were businesses with high potentials and business performance but today, they are no more!

Below are critical points to be assessed and reviewed either before a venture starts, as it is starting or thereafter :-
How long can this business last and How long do I want it to last?
What’s the vision of nearest future and the desirable future with feasible timelines
How soon can this business be weaned off me as a business owner?
What does succession mean to my venture and how soon can succession plan be put in place?
Is there room for diversification in the future?
What I’m I putting in place for sustainability?

Why do businesses fail? Every aspiring entrepreneur/business owners/visioneers must be a researcher in this field, to identify the points of failure of the previous generation and determine how to avoid them. Businesses fail for many reasons which includes personal interest, personal weaknesses, leadership failure, mismanagement, lack of structure, lack of innovation, lack of infrastructure, lack of financial aid, policy change and etc. It’s therefore important to define sustainable path to follow what will suit our economic and peculiar conditions.

Answering these questions will help to determine how the business will be run, how flexible to be, how to manage scale of operations to ensure sustainability, how to identify opportunities for growth and expansion, alternatives when the unforeseeable happens.

The clarion call is for our generation of business owners to become dogged, learn from the mistakes of last century and build our enterprises as legacies that will live long after we are gone.

Olubamike Oluyemisi Fadipe is a writer with a passion to inspire, impact and motivate.
Email: bankysanya@gmail.com                   Twitter: @Bankysanya

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Olubamike Fadipe February 23, 2016 0 Comments

Commerce in Christmas. 🎄

The month of December gives a characteristic nostalgic feeling and significant of all months of the year: first- it’s the last month of the year, second – one of the most celebrated holidays and season globally is in the month. The air in the Christmas 🎄 season feels so different and unique. All over the world, the season is looked forward to on so many fronts and for many reasons. Christmas celebrates the birth of Christ to the Christians but it also means a lot globally. It has gone beyond Christians’ celebration or holiday and has become a time to show love, share so much fun, eat and drink, give to the needy, exchange gifts, family holiday, visit places with folks gaily and beautifully dressed, lightning and 🌟 starry glitters decorations, carol songs and soulful music all over, celebrations every where while different Santa Claus models paint the town red and the list is endless. 

In-between the lines of all these activities laced with religious history and faith inclination is huge economic opportunities and commercial activities with funds flowing from one end to another, in various directions and accross many industries for goods and services that are heavily consumed and patronized in this festive season. Below are some of the common business activities:-

I. The Consumer goods industry sell heavy as consumption increases during the festive season, hampers flying all over the place, homes filled with so much to consume (groceries, consumption and household items) for  all – old and young.
II. The Telecom industry is not left out, all types of calls, SMS, emails, MMS – exchange of pleasantries shoot up drastically as people use the season to share and express love with their loved ones far and near.
III. The Event Management experts are not left out. Events keep rolling in – Christmas parties, end-of-year parties, cocktails, and get-together. Event planners cover all aspects – catering, logistics, music/DJ, rentals etc. are not left out, even the Masters of Ceremony benefit from countless events by  various groups, families, institutions and corporate organizations.
IV. The interior & exterior decoration experts benefit as most folks want beautiful spaces – change of curtain, home painting, beddings, refurnishing and refurbishment of homes, outdoor spaces and offices.
V. The printing market enjoys the peak period of boom – greetings cards, souvenirs, calendars and a whole range of products.
VI. The food & drink supplies industry can not be left out! The season is cooking, baking, catering galore – get together, end-of-year party, cocktail parties. The poultry experts leverage on this seasonal needs to maximize profit.
VII. The transport sector is not left out. People’s mobility rate increases as options of places to visit and cruise, rate of travel shoots up: by road, by air, by waterways.
VIII. A new rapidly growing industry is the gift industry which is being patronized heavily during festive periods. Offering array of gifts options, packaging, labeling, branding and sometime delivery for individuals and corporate organizations.
IX. Fashion design & Tailoring industry is a major hit industry with a huge boom. Everyone old, young, poor, rich patronize this industry not just for clothing or covering but for style, class and elegance.
The list is endless and it goes on and on. One fact is obvious and certain: each industry rises up to meet the specific and peculiar needs created by people’s desires, cravings for the season while huge business deals are sealed and multi-million of dollars and other currencies flow from one direction to the other in exchange for goods and services.
While the pomp and pageantry of the season mixed with glamour and the commercial goldmine in the Christmas season increase, it is important to keep in focus the primary goal of Christmas which is celebrating Christ, sharing and expressing love. 
Go share some love and spread some fun!
Follow on google plus and on Twitter: @Bankysanya
Email: bankysanya@gmail.com

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Olubamike Fadipe December 11, 2015 0 Comments

Business or Busyness II

The last article attempted to put business and entrepreneurship side by side, relating them as synonyms and as words used interchangeably in different parlance. Although one seemed more informal, they essentially describe same concepts or vocation. The concept of ‘doing business’ or entrepreneuring is an art, you learn to do it by doing it and continuosly improving on it. No matter how many books or articles on entrepreneurship you have read; no matter how many seminars you attend until you start pushing an idea, you might not have a firsthand and vivid description of what it takes to build an enterprise. You simply have not started by thinking or imagining!  You are only in love with the idea of being an entrepreneur! The best you can be referred to is an enthusiast. 

I have seen high levels of beliefs, hope and energy in anticipation of starting a business. I have listened to many ideas been churned out awaiting realization. I have also heard many people express with all seriousness and sincerity how they will dabble into a particular business when they have money, usually a sum of the amount that is not familiar in their bank statements or transactions and all they are ‘praying’ and ‘wishing’ for is a ‘miraculous’ provision. In response to such, many questions fly out of my mind and I attempt to temper it depending on my familiarity with such a person. The real question is “what will such a person be doing till that miraculous provision drops”? “Does it really take a miracle to raise money to start somewhere?” While I cannot undermine the critical role of substantive capital in running an enterprise neither do I intend to minimize application of faith in personal lives including the marketplace, at the same time, I’m more comfortable with these two principles of- “using the rod in the hand to part the Red Sea” and “faith without works is dead. . .”

The real albatross for starting a business is self leadership gauge, it pops itself up a while after you have been charged up at a seminar, after reading a book or by someone’s success story. Self leadership gauge attempts to measure reality with enormity of the ideas; define abilities in terms of inabilities and shortcomings; determine how far this idea can scale through in intensity. It’s all subconscious but cognitive assessment. By the time the assessment on this self-leadership gauge is done, it’s either the dream fizzles away, ideas buried, plans forgotten or energized to set out despite inadequacies.

Starting a business doesn’t start by renting a space – office, shop, warehouse. Businesses start by imagining and creating circumstances around a product, a service or a concept and gradually building sets of activities to create value chains. The whole exercise of starting a business is a milestone comparable to cutting the first tooth in children. You do it one step at a time, systematically and consistently also. From idealization, to value definitions, packaging of products or service, value delivery either by driving a product or a service and then taking the lead in other peripheral activities of real management (optimizing on limited humans and financial resources). It’s all a roller coaster, not necessarily for amusement alone but of highs, lows, excitement, anxiety, fear, thrill all in one trip.

There is never a convenient time for starting out on a laudable idea. I have these thoughts that I encourage myself with at all times and it goes thus ~
“The best time is actually NOW! 
The best point to begin is WHERE you are
The best resources to use is WHAT you have”

Comments, contributions, questions and queries are welcomed on the article. 
Email:bankysanya@gmail.com Twitter: @Bankysanya

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‘Business’ or ‘Busyness’ series I

“Karakata” is a Yoruba word that literally means ‘to buy and to sell’ all in one breath. It describes the vocation of buying and selling. The two concepts joined together in one word describe industry, economic activity, the world of been busy and a vocation called business. The word ‘business’ /’biz-nes/according to Meriam-Webster dictionary describes the activity of making, buying or selling goods or providing services in exchange for money. The word “business” a few years ago was a vocation or job of some people describing their livelihood and source of income. When people are asked what they do, it was not out of place to says stuffs like “I’m a business man or business woman”, vocation or jobs involving some degree of activities and economic interaction but scope, scale and terms of such business activities might not be clearly cut out and might not readily come up for discussion. It sometimes sound like an evasive profession having wide range of activities hidden under the same umbrella terminology called – business. 

As a little girl in those days, I knew older relatives and acquaintances in different fields of endeavor – a teacher would outrightly be referred to as such, tutor or lecturer; a medical practitioner also would be referred to based on what they did, ie. a doctor, nurse, pharmacist. At that time employment was streamlined, you  either work with government or a big private organization and employment was highly predictable after the higher institution. Most people were teachers, agriculture officers, secretaries, few doctors, engineers and lawyers. There was this group of people who just referred to themselves as business man/woman, they were a small percentage of the populace and scope of their job are usually not clearly defined, we had to prod them to know exactly what they do for a living.

Modern day has brought with it so much evolution in the employment and job space, while government jobs and private organizations are gradually whittling away, the other group that used to be minority and not having clear definition have filled the space. Fortunately, nomenclature has changed from businessman/woman to entrepreneur with so much hype and more importantly, they are a lot more defined and structured than the latter. The concept of entrepreneurship has become a globally acceptable source of job/work and means of livelihood for many and a significant part of a nation’s economy. 

Entrepreneurship describes an active self employment and engagement for reward which can vary from profit, fame, gain, fulfillment and etc. Entrepreneurship involves starting a business, company, enterprise or organization and managing same for reward. Entrepreneurial activities include crafting business idea(s), developing a business plan, acquiring human and other (financial & physical) resources required, operating and implementing the business plan, managing all aspects of business. This is one subject that many folks would show interest in especially in this era where multiple streams of income is encouraged.

There are different levels of entrepreneurship; some start businesses building from the scratch, some build on existing business structure, some revamp and restructure an existing business structure, some diversify from an already existing business, some embark on the ‘sustainability drive’ of an existing business while some expand the scale of business. Whatever level or scale a business is, be it macro, small, medium and large enterprise, it can become a life buoy in the sea of economic uncertainties. It definitely requires consistent drive and energy for survival as it is a whole continuous cycle of activities and busyness, it’s not a joke!

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The Race Towards Time.

Just like every race whether on the track or in real life, the following combination of factors are essential and they positively point in the direction of success:-
~ Take-off point;
~ A lined/ focussed track;
~ A finishing tape;
~ A feasible speed range & limit where required;
~ A reward for the race.

All these factors put together make a race worth the effort and not to be left out is the 2015 race. This new year should not just move on the way every other year passed. If you had a few or much failure in the previous year, it’s a season to reposition for success and perhaps previous year was a good year, then make this new year better! This has got to be a year to keep fire under in order to keep active. New year resolutions are not made to be beautifully written with cursive handwriting in exquisite diaries! Resolutions are made to be understood, implemented and lived out!

The world around us isn’t getting better, it is becoming alarmingly unpredictable and some schools of thought believe it might not get better! Morals are fading, economies are failing, security very low, investments failing, governance costlier and in all ramification, fear for and of tomorrow keeps rising. Rather than moan on how bad the world gets, it’s the season to expend self on how we can get better and how our world can be better. 

The ides of every month in significant term divides the month into two and subtly connotes that the month is running to an end. The ides of January 2015 is fast gone and the year in a typical unassuming but progressive mode is fast running to an end. It’s safer not to take the drive for the year too lightly or too calmly, rather calculatively and conscientiously. 

Perhaps you are like me, energetically calculating how the personal/family budget estimate for this year shall be achieved with the numerous grandiose ideas in the sturdy spiral bound journal. The larger your needs, the larger you  need to chew with a hope to uptake nutrient and achieve good health. It will be inimical to reduce my apetite and my nutrient uptake because I am afraid to chew!  Kwashiorkor, lack and other disease then become the threat. And so in this year, chew on your ideas more than you can bite!

This is a year to try hands on  different things, do same things differently and see what life can be from a different lens till you get good outcomes. Learn a new skill – soft or hard; learn a new language; earn a new degree; acquire new qualifications; get the latest technology in your vocation; try a new idea; make money; start a new business; sell, sell and keep selling! 

A lot more of our articles in this new year will focus on business self help to build, inspire and motivate in business, career and life while we will keep up and hot with our vision of helping readers to make everyday living count for the desirable future.

Comments, contributions, questions and queries are welcomed on the article. Email:bankysanya@gmail.com Twitter: @Bankysanya

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Olubamike Fadipe January 17, 2015 0 Comments