Accounting for the business

I am surprised that a lot of people I work with do not really know their business. They do not keep track of the business as much as they ought to, they cannot tell on one hand their available inventory, or even what their profit margin is.

If a business owner cannot even properly account for her business, how on earth are we supposed to know if the business is healthy or not? How can we make calculations to know where growth opportunities are hiding in plain sight?

A lot of businesses never quite survive the first 2 years and even if they do, they are never quite able to make the leap from a one man operation into something bigger.

You have to know your business in-and-out, you have to always have the facts every single time.

 


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Those 16 million Nigerians on Facebook

Every month, some 16 million Nigerians use Facebook. Every single day, some 7 million Nigerians stop by on Facebook.

I have been convinced for a while now, that Facebook is that ONE social media platform we need to focus our resources and mine new customers from. With the potentials of reaching so many people, I would say it is worth it to invest the time and effort to get something profitable out of those 16 million Nigerians on Facebook.

(Of course, I can help you figure out your Facebook strategy. Borrow My Brain!)

 


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Faith force as a tool

Everyday, I’m learning more and more about FAITH.

For me, God is real… He’s unlimited. Faith is real, the faith-force is real… Its unlimited. Its a question of how much of it can I internalise? Faith has to move off the pages of the bible and into my spirit where it can be put to good use.

Faith feels like a hammer that I can use to puncture anything.

Man and his methods are limited. But FAITH can do anything

Why does a business man need FAITH? Isn’t FAITH only for Daddy GO and pastors, evangelists and co? Business men should just make money, have fun and carry on.

That’s not a complete picture

FAITH is a tool.

A potent, powerful tool that can do anything.

By faith, Jesus died and resurrected.
By faith, Moses received The Law
By faith, Noah built an ark
By faith, Abel offered a great sacrifice

By faith, I have to run and build a global company. If I fail to build with faith, I will sink.

Faith is a tool.

You might look young, small, poor, disadvantaged, lacking investment, living in the wrong city and all that.

BUT, if you are sure God is your ally. If you are sure God is on your team… All you need to do is to tap into the Faith-force.

No, we don’t need anybody or their money.

We only need FAITH

So then, I have to load up my faith, warm it up so that it becomes powerful enough to do what I need to do.

Until my faith is powerful enough to get things done, I shouldn’t push it. I shouldn’t fret!

So… If I’m serious about expanding my business services into more cities this year, the first step is to build up my FAITH. Pump it up… Pump and pump and pump until I hear a ‘popping sound’

Once my faith is ready. I can have whatever I need to move forward.

(For obvious reasons, they won’t talk about the “faith-force” in business schools)

 


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The one thing you should not do to your ideas

Believe in your ideas.

Clarify your ideas (Do not run out to execute an idea about an idea).

Build out your ideas.

But under no circumstances must you fall in love with your ideas… Do not become so attached to your idea for a killer new app or service or device that you now ignore obvious flaws that will not lead you to what the experts call a product-market fit.

Love is such a powerful force. Once we fall in love with someone, we can rarely ever remain objective with them. Same thing with your ideas.

An idea must be allowed to continue to evolve as forces of the market interact with it and sharpens it for the future. Be willing to ditch even your best ideas if it appears it will not work in its current form.

Break up. Move on. Don’t feel bad about it.

 


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For the long haul

A virtue that is core to the operations of any visionary is patience. It will always take some time before the mountains will begin to move.

When we are committed to a project, a mission, a goal for the long haul, it changes a lot of things.

If you are not sold towards executing a vision… Don’t pretend you are, because along the road, you will need plenty patience and re-strategising to move on.

If you are in a hurry, look for things you can quickly and easily execute. The road to ambition is shorter and with a tenacious drive you will hit it.

For those in the visionary lane, they keep calm and press on, knowing it will take some time. Knowing they need all the patience they can muster.


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Do we all need to build for a billion users?

In the wave of announcements of services hitting billions of users and many more, questions on my mind include:

  • Do we all have to build services that can grow so big?
  • In my wildest dreams, how big can the services I am building get?

To answer, I definitely do not think we all have to build services so big. Emphasis should be made on making something useful that will add real meaning to the lives of the users.

If the emphasis is on the race to a billion and not to the value to be delivered, you will run into a ditch.

So, I would rather focus on adding users one at a time and see where that leads than go on a quest for a billion users.

Billions is the new cool and I want in, but I should not be seeking billions for billions sake. Beware of shipwrecking!

__________

Watching The World

 


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A billion users

Whatsapp has finally announced that they now have 1, 000, 000, 000 users. Whatsapp signed up 100 million new users in the last 5 months to reach this milestone.

Google has also announced that Gmail now has 1 billion users. Gmail becomes the 7th Google service to hit 1 billion users, joining a club that includes: Search, Chrome, Android, Google Play, Maps, and YouTube. (By the way, Google is now the most valuable company in the world)

Gmail did it in about 12 years (April 2004 – January 2016). Whatsapp took a much shorter route.

All-in-all, this gets me thinking:

  • Do we all have to build services that can grow so big?
  • In my wildest dreams, how big can the services I am building get?
  • When will we get the first service to attract 2 billion users??
  • Can a Nigerian startup ever scale up globally and play like the big boys?
  • Can such a Nigerian startup attract all the resources it needs without having to relocate elsewhere?

I guess I have so many questions and quite few answers.

If billion is the new cool… I want in!

 


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Emotional

The wisest business gurus all teach us to keep emotions and business as far away from each other as possible.

“Cold and emotionally detached is the way to go.”

However, from my experiences with my team members, staff, partners and clients; especially females, I find that they still make their own decisions and work with emotions and sentiments attached.

I think it is important to respect the emotions of people we work with. Not everybody has an icebox installed where their heart used to be.


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Nobody wants my products

When you market to people and they do not seem to get what it is you do or how you can possibly help them, then its time to either:

  • Redefine your product (maybe nobody wants it after all)
  • Redefine your target market (maybe you barking at the wrong tree)

 

Watching The World

 


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