Starting and Growing a Business.

Hello friends I hope you enjoyed the last post "Lessons from my son". I must confess that he keeps opening my mind to deep things to learn from, which means you should expect more "Lessons from my son".

I was invited to speaking at a beauty training that was organized by Swan Beauty- http://swanbeautyplace.blogspot.com (One of the best make over outfits in Nigeria today) in March, 2013. I was asked to talk on "starting and growing a business". I guess I was recommended because of the numerous counsels and push(s) I have offered the founder in the past, coupled with an MBA and numerous marks gotten from experience being in business.

I have shared briefly below some of the contents of my presentation at the event. I hope you find it helpful.

What is a business? A business is a venture you commit to with the purpose of having a reward. A reward could vary from money to self worth (feeling of satisfaction), customer satisfaction (seeing a customer or client happy), busy-ness (being busy) etc
 It is good to have a good approach towards monetary rewards before starting any business. This is because the monetary reward is usually a cause of success or failure.
Below are two approaches to have about Money for business success.
 1. "Monetary Reward as Profits should not be the sole purpose of starting a business but it should be a yard stick for measuring progress". Money should not be the main reason why a business is started or operating because it never helps the investor have the right outlook for the business. It also limits one's objectivity in terms of decision making. However, it is a very important aspect of the business that should not be neglected because it is a good measure of progress for the business. Money helps to determine your profit and growth. It could also be a measure of the quality of your service or product. If you adopt this approach, the following will be observed:
 - you will know you are making progress as your profit increases.
- you will know your value with clients when they are willing to pay so much for your service/ product. - you will make decisions objectively which will positively expand and strenghten the business.

 2. You are in business to "make money"(it is not a Non Government Organisation) but "making money" doesn't drive you to do business. This may sound contradicting to the point above but it isn't. This nugget should keep you from being lackadiasical about money. You will actually have a healthy balance for money and keep your relationship with people over money in its right perspective. Making money shouldn't drive your business but making money is what you should always try to do. Whatever job you are doing, you should try to make some profit from it even if it is family/friend. You may want to give a discount or special service but do make some money(profit) for every job you do. There are a few other things that should also drive you, which include- customer satisfaction, quality delivery, brand integrity (a good name) even on time quality delivery. If making money alone drives you through business, the following will likely happen:

 - you will lose more than you think you are gaining (most times the brand leaves a wrong impression in people's mind)
- you will lose friends, families, network opportunities (turning down jobs because of a reduction in your net profit or even over billing could close a future network) -
- you will lose money (deals that can bring some immediate or future income) and experience (opportunity to do more jobs).

 An important tip to consider when you want to start and grow a business.

 "Start Small, be professional and Grow Big". It is usual consideration to start big and probably compete with long standing and experienced competitors but it is never the best decision. There is nothing wrong with starting at a pace that can accomodate your immediate resources while you aspire to be bigger and work towards it. This is not to accommodate incompetetence or a lackadaisical approach but to make sure you are moderate and realistic in your objective. You should be consistently professional from the start and make sure you keep at it. It will mean paying attention to details and following your proffesion's ethics. With passion, commitment, hardwork, professionalism, strategising and consistensy, you will definitely grow big. It should be understood that "SMALL" is relative depending on availability of capital, influence, nature of business, environment, policies etc. It is better to start small and grow big than to go all out big and reduce to small or nothing (close up).
Starting small will expose you to the following:
- it will help you learn some unique basic rudiments of your business.
 - it will help you set standards and focus on your strenghts and opportunities.
- it will save you from opportunist who will likely take advantage of loop holes in starting big - will save you some money that should be spent on running cost, overhead and set up.

 This is a good place to stop and hope to continue from here some other time. Bidding you God speed in your endeavours and hope my little thoughts help inspire you to acheivements.

A Lesson from my son..

Hello friends,
I hope the year has been full of accomplishments despite the numerous challenges that may have come your way.In all these, keep your head high.

My one year old son recently started walking confidently by himself and I must confess he's loving the experience. He does it with pride and joy. He doesn't even mind if you leave him all alone as long as he's got space and he isn't locked up. He's ready to go all the way, exploring every possible inch. Quite interesting and tasking especially when I have to chase after him wondering where he's actually headed- no where. Something I find more fascinating is that there are times when he actually wants to relish a time to grab my finger and we just walk together within the house. I think its a time he really enjoys especially doing it just for the fun of it and other times to help him communicate a need or play time(football). As reluctant as I get sometimes to grab him by the hand and walk around with him, I never get tired of it and try not to disappoint him. A deep part of me feels glad and happy that I am being a part of his life.
 In the same way I am learning daily to let go of my strengths and freedom in search of God's hand to hold and allow HIM (God) lead the way. There are a good number of things I feel confident I can do all by myself without the thought of God but its equally important to draw strength and confidence from God to know that I am doing the mind, purpose and plan of God per time. Its better to walk with God and achieve His will than to run and achieve much without His involvement. Will you grab hold of God and make your life's journey(walk) with Him. He said "...I will never leave you nor forsake you"(Heb 13: 5), so you can trust Him. Psalm 23:3 says "even though I walk through the valley of the shadow of death, I will fear no evil because thou areth with me". Your walk through life can be confident and assuring when you do it with Jesus. Walk with Him. He will never disappoint you.