The real education is not the one we acquire in the confines of a library or school or by asking arm-chair critics or by consuming various educational media over the Internet. The real education that proves most useful is the one we pick up on the road, as we set out to work out ideas.
No matter how meticulously thought out the plans are, they rarely work without any further modification required. So, please get out of the building and actually start out! (It has been a year already since you have been planning out your project…)
The real learning does not start until you dare to start moving.
3 words no professional would ever want to use, yet bumping into areas where you are completely clueless is actually a sign of progress.
If you start projects often and at the very beginning, you had everything mapped out in high detail, you had every answer, every structure, everything mapped out, then you must be on the wrong path. You are obviously playing around in familiar territory and this is not good for long term growth.
I don’t know… but I will work it out!
Admitting “I don’t know” is not aways a weakness. In fact, the brightest minds often admit they don’t know and are willing to ask questions and research until they now know and then move on to master the unknown. It is not necessarily a bad sign if you are honest enough to say “I don’t know where my business will be in 5 years time”.
I don’t know, I do not have all the answers right now, but I am very sure that once I learn enough to get me started, I can launch out and keep going, I will get feedback, learn some more and keep moving.
You do not need to have all the answers on day one and it does not necessarily make you a bad business man.
Watching The World
Facebook is expected to start a peer-to-peer money transfer service within the next few months. This is an interesting development.
When Internet companies started back in the day, everyone was convinced that advertising was the key. You worked hard to create a website resource or app that people used frequently and then charge companies to display adverts within your digital properties. This is how Google actually makes most of its money today.
Facebook also makes so much money on ads, $3.59 billion in Q4, 2014. BUT, there is a little challenge, there is a limit to where you can place adverts and as such they need new ideas on how to generate more money.
Facebook, Twitter and other social messaging platforms are adding on commerce features to their services, the intent is clear: they want a slice of the action. Advertising is no longer enough, they want to take it a step further.
I am not convinced that building a business around advertising is the way to go in these modern times, we need to get more creative. By adding money transfer to their messaging app, Facebook is taking a big leap towards (finally) monetising its other messaging app: Whatsapp.
In developing countries like Nigeria and the others, a lot of factors makes it difficult to make serious money from advertising business, but if we can creatively come up with cool alternatives, gold is ready to be mined. That is why you should forget about starting a gossip/music blog and monetise it by advertising, think differently! Even companies making a killing from advertising are looking for other income streams. (This is why Google is building cars and making smart eyeglasses – they are looking for an alternative income to their advertising business).
Gold is ready to be mined, but you need to think clearly about how you can get in the middle of the action.
Watching The World
Twitter is a social media network that allows people to post updates from all around the world. The world’s most powerful voices are on Twitter, but the reality remains that a vocal minority is still a minority and as such, they have failed to keep growing as much as their investors would love.
If they fail to grow, they cannot make money and they cannot fool everybody forever. Twitter is actually in trouble and they are trying to fix it somehow. Facebook won afterall.
Now, out of nowhere, pops up Meerkat, an app that allows you livestream whatever you are doing to your friends immediately through live video. The app is built to integrate closely with Twitter. Twitter is not cool with this because they just acquired a company, Periscope that wants to do something similar and therefore cuts off Meerkat’s access!
From a business point of view, I think it is a terrible move by Twitter. And Meerkat will grow stronger as rightly predicted by its optimistic Creator. What baffles me on the other hand is how clueless Twitter seems to be on this matter, I feel they should have learnt from their past that Twitter grew faster when it had a thriving developer ecosystem.
Businesses should stop thinking in a shallow and small minded way, only optimising for personal gains. The bigger way to go is by allowing others to thrive alongside you. Meerkat is not gunning for Twitter’s core product and the new Twitter acquisition that caused Twitter to revert Meerkat’s access, Periscope has not been judged to be a market hit yet. If I were Twitter CEO, I will allow Meerkat to keep growing and then I would acquire the company, simple! Rather than kill them off hoping my Periscope app will do better when I have no proof the Periscope app will ever fly.
If Twitter keeps cutting off apps like they just did to Meerkat, nobody will build anything on their API again. And an ignored API means no new toys for the end users and no new toys will lead to Twitter’s death. Can you imagine how boring your phone would be if Apple and Android Nation decided to lock up their devices, allowing ONLY Apple and Google staff to build all the apps? That is exactly what Twitter is trying to do.
Entrepreneurs, Creators and Businessmen working in this connected times must learn how to allow people piggyback off your own success and even learn to derive happiness from it.
Watching The World
And hence, we cannot really do business. You can not even offer a service I would need either.
It is very simple, really.
The better you know your (potential) customers – their likes, dislikes, hopes and aspirations – the better you can create businesses and organisations they would be able to identify with. And of course, the more money you can make.
Watching The World
In the beginning was the word, and by using this word, everything we see now was created out of nothing. This is the conclusion that we arrive at after reading the Holy Bible.
Of course, it makes no sense, it is totally unreasonable and that is OK. The word of God seldom makes sense to us, it only makes faith.
I think it is a great thing to pray, and sit still until we receive a sure word from God over what to do and where to head next. A word over which businesses to start or sink or rebuild. The businesses that will stand the test of time are not the ones built around brilliant ideas, they are the ones built upon the word.
If your business operations are not standing upon a word from God, then it is not standing at all. Everything man made, no matter how perfect looking will always come to an end but things that start with the word always keep going. No matter how hard critics try to discredit the Holy Bible, that book just keeps getting more and more popular everyday and it proudly sits as the best selling book of all time. Man has limits, God has no limits.
It is really important to pray and sit still until God says “GO!”, once you get to that point, you get a jolt of faith and then you can press on with the confidence that God has got you covered. God is not obliged to help on projects He did not author.
And of course, once you hear GO. Do not wait one second, start immediately!
Do more, do a lot.
It is much more challenging for a student offering 15 subjects to make an A in everything than it is for the (lazy?) student offering 4 subjects. Achieving success this way is tougher and will take more time, but it is usually worth it.
Let us take a look at Google.
From search engines, to video hosting to mapping, mobile phones, web browsers, self-driving cars and healthcare. I do not think there be any sector where Google is not working out some magic, trying to make an A in so many areas of life.
Critics say they are doing too much, they usually react that others are doing too little.
Critics say lack of focus will kill Google and they like to point out every flaw they can find in the Google empire, but I think #TeamGoogleCritic is missing the mark here. By tackling so many hard problems simultaneously and hiring the best human minds money can buy, they are ensuring they stay relevant for a longer time.
Google is re-inventing themselves away from being an Internet company and they are winning so far. People (and money) flows towards the problem solver of the day, when the internet search was broken, Google fixed it and now that it is fixed, moving on is a great thing.
if you hang on forever to your one thing, change is coming and it will sweep you away.
Since there are so many challenges plaguing the modern world, perhaps the world would be a better place if the brightest minds on the planet stopped building messaging apps and other novelty and channeled their genius towards solving harder problems.
It is obvious that this is the class I belong to.
Watching The World
It is much easier for a student offering 4 subjects to make As in everything than it is for the student offering 15 subjects.
Let us take a look at Apple and Samsung.
Samsung has a lot of phone models in the market: the flagship Galaxy S series, Galaxy Grand series, Galaxy Core series and many more. Apple on the other hand has just one product in the market: iPhone.
Many critics always like to point out that Apple is now an iPhone company, even though Android devices out-sell Apple devices, Apple is still the one making the real money. In fact, some people have declared iPhone as the most profitable product ever!
They did not make the iPhone by building 12 different phone models and then looking for a hit among them. They concentrated their forces on building just one device and then improved it over time.
Apple has spent the last 30 or so years building great devices that just works. Not all their devices have been successful, but with every new thing they create, they are becoming better and better. By building only one phone type; the iPhone, they are able to focus properly and fine tune the product, making it work very well. Rather than building 20 different average devices like the Android Nation, they built one superb device that rules them all.
Since our ideas are unlimited, but our time and energy are limited. Maybe we can achieve success faster if we concentrated our energies on a few like the student who offers a few subjects so that he can attain true mastery.
The next wave of business moguls will have to be tech savvy. You would really need a good grasp of technology in order to be able to build an efficient business. Without a good grasp of technological tools and services at your disposal, your business model and operations are already obsolete at conception and such a business man is already doomed.
You need to ensure that your business is well technologically driven, and that you adapt quicker as better technology arrives.
For example, I argue that perhaps it might be better for anybody interested in opening a retail store to start with building a website that works before opening the first physical shop. I always wonder how different things would play out if retail giants like Shoprite, Spar and co actually had a robust tech infrastructure and online presence to complement their physical stores.
Marketing your business over social media and other digital media is now very crucial. No business can afford to completely ignore setting up a web presence for themselves. What happens to Shoprite when online brands like Konga, Jumia and others start building offline stores?
We have to ensure we have the best approach possible towards executing our plans. What we are doing does not change, but how we get it done would have to change and keep changing as the world evolves. With a good grasp of technology, maintaining a global presence for your business is very easy, you would also be able to do so much work with so little staff.
Allow your businesses become more technologically driven. It is central to survival and profitability of business.
Watching The World