Where are we getting it wrong?
ONCE a business is started, it has to be visible and live (sustained) even beyond the founder. This is never the case with our businesses. We’re always starting them over and over again.
Where are we getting it wrong?
Just look around in your different geographical locations, or even look back into the past, you’ll see the same trend, people changing buildings several times.
Today there is a motor spares business, tomorrow it’s now a grocery shop, the next day, a new bank, the other day it’s turned into a bar.
Where are all these people going? They are broke or have downsized to occupy a smaller shop.
Where are we getting it wrong?
As an interested party, I always question all these things and come up with tentative links to the solutions.
Never be cosmetic in business, businesses are details. You just have to know and be sure of what you are doing.
I have seen a lot of people drowning in dirty waters because of failure to ascertain the depth of it before attempting to cross.
To succeed in business, there is a certain level of smartness that is required, otherwise you will continue to start it all over again.
Have you ever in your small or big business analysed your expenses per line as a percentage of your sales per day per month or per year?
Or do you have anywhere where you record your business expenses or activities in general so that at the end of the day, you know which expense item is taking much from the business and come up with ways of reducing it if possible?
Another question which might be simpler in a way
By what percentage did your business grow looking at your 2020-2021 figures? I know most people will spend forever searching for these answers.
We don’t have anywhere to find them. Which means we are comfortable with driving our dashboard less businesses. If they run out of fuel, oil or water, we don’t even know. Even the speed at which we are travelling at, we don’t bother.
The same way you do to your car, so should be your business.
Ladies and gentlemen, you need a working business dashboard that speaks to you of what is happening within your operations.
Learn all the small pictures that come out of your dashboard.
They are there for a purpose.
In business, we talk of things such as reorder levels, reorder quantities, minimum stock levels, debt equity ratios (gearing ratio) etc.
Do you know what all these mean to you?
The question, where are we getting it wrong is starting to get answers.
Ask yourself as you spend the day at your various workspaces, where am I getting it wrong?
Determined to engage, inspire and transform generations in the areas of entrepreneurship and personal development.
Dr Kudzanai Vere is an entrepreneur, author of four books, business and personal development, multiple award winning entrepreneurship and business coach. Dr Vere has coached more than 5 000 entrepreneurs globally and continues to impact people in the areas of entrepreneurship, business and personal development. He is the founder & CEO of Kudfort, Transformational Mindset Institute and the Institute of Entrepreneurs Zimbabwe./Contact Dr Kudzanai Vere for transformational entrepreneurship and business coaching and training on kudzanai@kudfort.co.zw or +263 719 592232.