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Think Like An Entrepreneur, Act Like A Trader

Octover 08 2015 l ndbs  
   

Being an Entrepreneur is about innovation, ideation, spending time conceptualizing and seeing the end product in your mind. It is when the product is ready that it will require rigorous selling, promotion, marketing and management to get it off the shelf. As Entrepreneur you now need to augment the skill of a trader whereby you knock at closed doors and sail on air balloon to get the product across.

Being entrepreneur you can come up with the idea and plan everything to the latter but not able to operate the business but leave the responsibility to the team that you can hire to do the job. If you are the kind of Entrepreneur without budget it will then require you to also do the actual job than delegate.

1. Think within the process

Whenever you work on the business idea, try by all means to eliminate helping hands and see yourself as one who will do the actual job, feel the sweat, the hard work, the hunger, the stress, the pressure, that way you will be able to develop it to a point that even if you were the one going to manufacture the product, package the product, dispatch the product, deliver the product to the client you would see it fit for you to carry out such duties.

2.Think the process through

You do not want to deal with challenges when you get there, identify the glitches and deal with the at point of departure. Look at all the challenges and mitigate them before launching the product, you can only do that if you see the product at production line, then leaving the factory, how the invoice will be generated, how you will deal with client complains, how to deal with returns, where to take damaged goods, how many employees will be required in each department.

3.Think outside the system

As Entrepreneur you need to imagine your product without you, think how it will be handled, think of how your sales team will approach the clients, think of how the product will be treated by the consumers or the end users it is meant for. Think of how the competitors will try to squash it out of the market. Think of how the media will receive it. Think of how the company can survive and make sales without you being anywhere near. Think of how your name will be attached and linked to the product even when you are long gone from this world.

How you think about your product will prompt you to act decisively and plan proactively than dealing with challenges as they come, your product will leave the manufacturing plant with diagnostic manual, trouble shooting than compiling that over years based on trial and errors.


Derrick is a Certified Business Advisor   (IBA Member)

 
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Vision 3030: Think Beyond Your Lifetime

August 24 2015 l ndbs  
   
Whether we like it or not, probably none of us in 2015 will leave to see 3030. But whether we leave to see it or not, 3030 will come. In as much as there are those waiting for the world to end, the world may not end before 3030.

But if it does end before then, how will your name be remembered by those living after you? What inheritance will you have left to the generation to come? Will the mention of your name make them frown or smile?

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Take Off Saul's Armour And Face Goliath

June 17 2015 l ndbs  
   
The story of David and Goliath may sound a myth to some but records show that the battle in the valley of Elah with archeological backing did take place. It is a story so close to may people of different religions as it shows the level of faith and trust that one can have in God to win the battle. When David got into the camp of Israelites he was greeted by a giant challenging the army of Israel.

David immediately got charged for war but before he could approach the giant, Saul offered him his armour to wear, Saul was the tallest in Israel, meaning that the armour was no match to David’s body and after an attempt to walk, he decided to take the armour off and face Goliath with his Sling and stones.
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You Are The First PR Executive For Your Business, Behave As Such When Networking

May 08 2015 l ndbs  
   
Network sessions are seen by many as platform where they will go and sell their business and distribute business cards to those deemed potential clients, very few see it as a platform to buy what they are looking for, the reality is that what you have been looking for can be purchased at a handshake price for the mere fact that you shook hands with the seller and had an opportunity to interact at personal level than client and service provider. You therefore need to go the sessions prepared

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Get All Your Race Horses At The Starting Gates

March 23 2015 l ndbs  
   
At the racecourse all horses have same starting time and are at closed starting gate to make sure they are all at the same line before take off but someone is optimistic that their favorite horse will emerge a winner.

At the end of the race there will indeed be one winning horse that will be all over the news and those who placed a bet on it will head to the bank smiling. But the overall winner is the race organiser because every horse paid to enter the race, every gambler paid to bet for the horses, those attending the race paid entrance fee, the broadcasters paid for broadcasting rights, and the organisers decide the winner’s price.

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Enhancing Value Chain Among Entrepreneurs


Value Chain is the concept that has been promoted by governments around the world with focus on how they can integrate systems to function efficiently, and they have taken it further by looking at how they can relate amongst each other through bilateral trade agreements that carry tax exemptions and tariff deals that will see seamless transactions to boost their economies. 

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Fishermen Have No Competitors

I was asked a question by a mentoree during mentorship session: “How do I deal with competitors in the area?” And immediately the thought of fisherman dropped in my mind.  I pictured a fisherman on the bank of the dam with other fishermen nearby. 

What came strongly is that every fisherman is focused on their fishing line to see if it moves and their attention is on the fishing rod that is held tight by the hands which makes it difficult to lose :

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Knock Yourself Off Debts Wagon

Getting in debts then pay someone to administer your way out is like kidnapping yourself and pay someone ransom to be freed. Most people realize they are in debt the moment they need something and can’t afford due to other financial commitment, and instead of paying off what they have committed in they start to see crisis in the situation.  One has to ask a question “Did I make mistake by committing my money to that?” and if answer is no keep paying without pressure. 

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Your Business Needs Medical Attention Too

As humans we are quick to seek medical help should we not feel well in our bodies and at times it does not matter how much we pay for the services as long we get help, yet we fail to do the same when our businesses are unwell, instead of seeking help from experts and consultants, we try to fix things by ourselves until the business collapse and we are unable to resuscitate it back to life.  The following are steps that will help getting your business healthy:

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Get Your Business Off The Ledge

Every business does experience dry season and rainy season, there are times where it soars like an eagle, and comes a time where it hides like a bat waiting for night time.  It becomes dangerous when it get on the ledge and leave the owner with two options: To jump and crush or hold back for rescue.  When faced with that situation the following can help get on your feet again: 

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Is Cash Still King In Business?

The old adage that Cash Is King still has meaning in today’s business world.  Employees are paid through cash, Service providers need to be paid cash, creditors are paid cash.  Any company that has its cash withheld by its debtors such company may struggle to meet its financial obligations. 

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Dining With Captains 

Getting clients to buy your product or service takes talking and selling but to keep them takes character and respect.   The clients that you have they are also clients to others so they know all the tricks and the kind of game you play, and they can easily tell if you are trust worthy or not.  

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Curious Case Of Middle Class 

The economy is structured in such a way that there must be employers and the employees. And it is the responsibility of employer to pay the employee for the services rendered or work done.  It is within  this circle where the  bourgeoisie have  found a dwelling place.    

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Act Like Antrepreneur, live  like Entrepreneur

Ants are interesting insects and unlike lions that you have to find in the zoo, they are found in rural and urban areas.  They travel without boundaries and  work hard for their food no wonder they got special mention in the bible, Proverbs 6:5-6 ““Go to the ant, you sluggard! Consider her ways and be wise” .  In studying their lifestyle one discovered that there is much to learn from such a tiny creature than could learn from a lion.

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Advertising On Social Media For Results

Social media is a great platform for networking, business connection, family contact, friendship, dating that may lead to marriage or heartbreak, whatever the reason may be, the bottom line is any person who is on social media already know the purpose and intentions of being there.  How you behave to those you are connected with may make or break your business as you

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