Most people advocate building business to build wealth, I advocate creating value. Don’t build business with the mindset of creating wealth, of course wealth is important, instead build a business with an underlined value mantra to ensure and promote your s.e.p. i.e. sustainability, equitability and profitability.
Sustainability will ensure a continuous and a consistent organizational structure structured towards creating value for the long time, equitability will make you responsible to your employees and customers while profitability will ensure the promotion and enhancement of your s.e. (sustainability and equitability).
Business Development Blog
Thursday, November 7, 2013
DEVELOPING BUSINESS PRODUCTS ; OBJECTIVE BASED PERSPECTIVE
To develop a product that will effectively meet market needs. You’d have to;
“Re-evaluate your objectives”
Your objective is what you set out to do i.e. needs or problems you intend solving. Comprehensively, your objective is that centralized aim which is a clear indication of what will be achieved as a result of your presence in the market place.
Thus, in developing a product from an objective perspective, you’d have to clarify both the primary and secondary reason why people need your service(s). for instance, the primary reason people go over to a barbing saloon is to get rid of their hair while the secondary reason may include; wanting to look good, having an healthy and sensible appearance or wanting to spend their evening in a cool and serene environment with lots of guys to chat with while at the same time getting rid of their hair.
Also the primary reason you go over to MacDonald’s is to fill up your belly but you wouldn’t go there if their outlets is poorly organized coupled with poor food quality. Therefore, your primary aim is wanting to be filled while your secondary aim includes; excellent and good quality food served in an organized and serene environment. Right?
Thus in developing a product that will have sustained influence in the marketplace, you’d have to list and clarify both the primary and secondary reason people would need your services. This, will help in clarifying lots of (product development) issues and help in designing product that will have sustained influence in the marketplace
“Re-evaluate your objectives”
Your objective is what you set out to do i.e. needs or problems you intend solving. Comprehensively, your objective is that centralized aim which is a clear indication of what will be achieved as a result of your presence in the market place.
Thus, in developing a product from an objective perspective, you’d have to clarify both the primary and secondary reason why people need your service(s). for instance, the primary reason people go over to a barbing saloon is to get rid of their hair while the secondary reason may include; wanting to look good, having an healthy and sensible appearance or wanting to spend their evening in a cool and serene environment with lots of guys to chat with while at the same time getting rid of their hair.
Also the primary reason you go over to MacDonald’s is to fill up your belly but you wouldn’t go there if their outlets is poorly organized coupled with poor food quality. Therefore, your primary aim is wanting to be filled while your secondary aim includes; excellent and good quality food served in an organized and serene environment. Right?
Thus in developing a product that will have sustained influence in the marketplace, you’d have to list and clarify both the primary and secondary reason people would need your services. This, will help in clarifying lots of (product development) issues and help in designing product that will have sustained influence in the marketplace
GLO-LOCAL BUSINESS OPERATION; DEVELOPING A GLOBAL BUSINESS FROM A LOCAL PERSPECTIVE
Building a successful organization requires a detail and effective analysis of the environmental conditioning in which your firm is operating in. A lot of businesses have declared bankruptcy because they never take into cognizance, the social and macro-economic conditioning of their operating environment.
For instance, in Africa, most global and even local conglomerates are shutting down their operations basically because they have not been able to effectively modify their operations to fit into the local conditioning system inherent within the continent. You see, that a venture succeeded in Asia does not necessarily mean it will be successful in Africa and a success witnessed in South Africa does not guarantee a success in Nigeria. Why? You’d ask, it is basically because of the differences in the operating environment.
A story was told of recent, about a western food company who opened a food store in a West African country using the same delicacy used in their home country. The problem was that while Africans prefer pepper, countries in the western world prefer other peppermint. The non inclusion of this, was responsible for their failure.
This company would still have been able to record outstanding success if they have been able to understand the socio-cultural condition of their operating environment.
Also, there is the need to understand that, before an idea or business venture can thrive in a particular operating environment, the required “system” needed for the success of such idea must have been built. It is this system that will serve as foundational basis upon which the success of such an idea or venture will rest.
Thus, to succeed in a particular business environment, a business leader must be able to;
a. Understand the social and economic conditioning of their operating environment.
b. Investigate and discover the socio-economic structure and system of that environment.
c. Create and design business operation to fit into the socio-economic conditioning of that area leveraging on the available local structure to promote the advancement of your enterprise.
Also, You must understand the futuristic dynamism of social structure and create a flexible business and organizational structure that will not only successfully incorporate futuristic change but will also serve as a change catalyst in developing existing local structure and system with a view of fast-tracking local and communal development.
Shallom.
For instance, in Africa, most global and even local conglomerates are shutting down their operations basically because they have not been able to effectively modify their operations to fit into the local conditioning system inherent within the continent. You see, that a venture succeeded in Asia does not necessarily mean it will be successful in Africa and a success witnessed in South Africa does not guarantee a success in Nigeria. Why? You’d ask, it is basically because of the differences in the operating environment.
A story was told of recent, about a western food company who opened a food store in a West African country using the same delicacy used in their home country. The problem was that while Africans prefer pepper, countries in the western world prefer other peppermint. The non inclusion of this, was responsible for their failure.
This company would still have been able to record outstanding success if they have been able to understand the socio-cultural condition of their operating environment.
Also, there is the need to understand that, before an idea or business venture can thrive in a particular operating environment, the required “system” needed for the success of such idea must have been built. It is this system that will serve as foundational basis upon which the success of such an idea or venture will rest.
Thus, to succeed in a particular business environment, a business leader must be able to;
a. Understand the social and economic conditioning of their operating environment.
b. Investigate and discover the socio-economic structure and system of that environment.
c. Create and design business operation to fit into the socio-economic conditioning of that area leveraging on the available local structure to promote the advancement of your enterprise.
Also, You must understand the futuristic dynamism of social structure and create a flexible business and organizational structure that will not only successfully incorporate futuristic change but will also serve as a change catalyst in developing existing local structure and system with a view of fast-tracking local and communal development.
Shallom.
Thursday, August 15, 2013
CREATING A SUCCESFUL BUSINESS CORPORATION; A Business Leader Anecdote II.
SPIRIT OF LEADERSHIP
Following a dearth of business leadership, there is an urgent need for a trend reversal with a view of creating new generational leaders who are poised to create, build and develop a highly successful business corporation that constantly create a “High Value Product” for the marketplace.
Hence, there is a need to examine important leadership qualities that determines the extent of your success as a business leader;
1. SPIRIT
Every true leader has a spirit which is an embodiment of their core nature containing their value product which continues to stimulate passion, vision and drive. Leaders are men on the move with a passion and a mission of influence. This mission stimulates and builds influence which attracts people of “LIKE MINDS” who join together to build a corporation streamlined and directed towards achieving a broad aim and objective.
So, the starting point of every great business leader is to discover their spirit. Discovering the content of your spirit determines your Product.
2. INFLUENCE
Influence is a life that triggers a positive force that most times culminates into a mental and psychological change. The efficacy of an influence is measured by the quality and quantity of the change it produces.
A business leader of influence having discovered the content of his spirit builds up himself to attract “High Quality workforce” who creates products of sustainable influence on the market place.
3. CREATING A SIMULATIONAL EFFECT
The main function of a business leader is to create a simulational effect that links the various structural arm of a corporation with each arm contributing its own quota towards the development of a unified product that is basically structured towards the attainment of a corporation’s aims and objectives.
Creating a simulational effect as a leader also enable the creation of an enabling environment that stimulates teamwork
CREATING A SUCCESFUL BUSINESS CORPORATION; A Business Leader Anecdote.
To succeed as a business leader in building a successful business corporation, you’d to:
1. UNDERSTAND YOUR VALUE
Value is the real thing. The real stuff you are communicating or selling is not the physical product but rather the value that your product communicates. You see, what Coca-Cola is selling is not a bottle of black liquid but rather, what they are selling is “Refreshment” Walt Disney sells Fun and Happiness and not Mickey mouse. Mickey Mouse is just a way of selling their real value.
Value itself is not physical or visible but invisible; Value is a life being communicated via the physical product. Your physical product is like a house that houses the real product which is “VALUE”.
So, understand this, your real product is the value you are giving. It could be Peace, Joy, Fun, Refreshment, Comfortability or ease and they are intangible. “IT IS YOUR ABILITY TO CONVERT THAT INTANGIBLE VALUE INTO A TANGIBLE PRODUCT THAT DEFINES YOUR CREATIVE FORCE AS AN ENTREPRENUER “.
So, what is your value? Your value is that positive drive you have on the inside, it is positive and beneficial designed and must be orchestrated towards meeting needs and solving human problem.
2. DEVELOP A PRODUCT OUT OF YOUR VALUE
After understanding your value, you have to exercise creative ingenuity in converting your value which is intangible into a tangible product, the same way Walt Disney converted Fun and Joy into Mickey Mouse and the same way Dolce and Gabbana converted sense of elegance into cloths and fashion and like I said “it is your ability to convert that intangible value into a tangible product that defines your creative ingenuity as an entrepreneur.
And after discovering your product, develop it; Make it of better quality and increase its quantity. Quality increases your products monetary worth while quantity increases its’ monetary volume.
3. BUILD A TEAM OR CORPORATION
A corporation is “A conglomeration of people with diverse talents, expertise and technical know how all uniting together for a common goal and objective”.
Building a corporation is one of the defining stuffs that will define your success as a business leader. The main function of a business leader is to create a simulational effect that attracts a team of skilled employees who will leverage on each others strength to create an high quality product that effectively serves and meet market needs.
It is no gainsaying to say that the strength of a leader lies in the quality of his followers (employees). Hence, ability to create an effect that not only attracts skillful workers, but that which also creates an enabling environment that stimulates team work is of urgent need to an entrepreneur.
Hence, to create a successful business corporation, you, as a business leader must;
a. Recognize and employ Skillful, talented, committed and experienced workforce with high degree of expertise.
b. Must be able to create an effective workplace environment that attracts high quality people; skilled and committed towards building an high quality product.
c. Create a simulational effect that encourages and promotes teamwork with each employee organized and integrated into specialized structure leveraging on each others strength to create and build a unified product of “HIGH UTILITY” that effectively serves market needs.
4. DEVELOP A SYSTEM
A system is a structured corporation with each structural arm specializing into specified department and specialized towards performing specific service that integrates into the common objectives of a corporation.
5. SELL, SELL, SELL.
JOB ‘N’ WORK, the African perspective
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The state of being unemployed to a broad extent refers to a state of having no job and does not necessarily mean having no work. The reality is that in the society, there are thousands of works to be done, but fewer jobs to do the work, hence, the need for an enterprising initiator to cultivate and initiate a system of building an organization with a solid system inbuilt with an organic and structured system that will employ people to do the work.
In reality, there is no unemployment all we lack is “LACK OF INNOVATION”
So, the best way to solve the problem of unemployment is by encouraging and fast tracking the development of an innovative mindset spurring out creative products and services and built around a well structured organization.
The problem with Africa is that we have long been taught to be dependant and never independent. Centuries ago, we were taught to depend on our colonial masters, now we are being taught to depend on the government for virtually everything. This unequivocally stiffens creativity and promotes a state of dependency that overtime cripples our economy and gives room for bureaucracy and despondency which destroy excellent service delivery.
Hence, there is the need to promote innovative mindset in Africa. This, the government can enhance by investing in education and creating suitable and sustainable policies and systems that will promote the spirit of innovation.
FAST TRACKING ORGANIZATIONAL DEVELOPMENT
Organizational development is not a metaphorical paradox but rather a functionalist theory that can easily be applied to any organization of sort.
In order to fast track your organizational development from the spectrum of functionality, I guess there is the need to employ a principle propounded by Emile Durkheim. According to Emile, “the society is an organic structure with each structural part contributing its own quota to the development of that organism”
Your business as an organizational structure is an organic entity whose level of optimum efficiency depends on the quality and quantity of the products of its structural part. In order to fast track the development of your organization as an organic entity, there is the need to;
A. Make every member of your organization understand that they are all important to the health of your organization. They have to understand that they are part of a structural organism with every functioning member all contributing their own quota to the overall efficiency and development of that organism.
A dearth or inefficiency in a quota will cause a ripple effect all over the organism causing your organization as an organic system to operate below its opium.
This sensitization or awareness I believe, can be carried out through an educational system developed by the organization through training or any other educational program deemed fit and also by employing the principle of tracking to place every functional member into their area of efficiency for effective and total development of your organization.
B. Create a synaptic link that connects every arm of your organization causing the different arms of the system to work together in harmony leveraging on each other strength to deliver a superior product and service that will effectively serve the market need.
C. Establish a system that rewards outstanding organic member.
D. Also establish a mentorship program that will transmit the knowledge and experience of the past to the present for proper modification and effective integration into today’s and tomorrow economic reality.
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