Sunday, October 29, 2017

Choosing The CEO

Who is your CEO?
In lay man terms, the CEO is the big front end of the organisation, while the receptionist is usually the smaller front end. Many small businesses fail due to the inabilities of the CEO to manage the business properly and Leadership is key to the success of any business.


Most startup entrepreneurs are always eager to have their name on the top hierarchy of the startup as Mr CEO. In their defense, its their idea, they started it, its their sweat and all. They are right, except that they fail to realize that its only an existing business that needs a CEO. If they do not have what it takes to manage the startup properly, the CEO position becomes a neglect.
As an aspiring CEO, there’s much work to be done, many plans to be made, many things to learn, unlearn and relearn, many books to be read, many seminars to attend, many practicals to be done and most importantly, many mistakes to be made.
I run a clothing line WITTEEwears. I can’t afford to hire a CEO or a manager right now even though I know I still have much to learn, so I decided to go into partnership with the best partner that ever existed. My business partner doesn’t sleep, he’s always marketing, he’s constantly bringing in new clients, he handles the management better than I do and I can ever do, he only takes 10% of profit and allows me keep 90%, even though he’s the CEO.
My CEO is God.
I realized my in capabilities on time and chose my CEO wisely. You don’t have to use the same CEO as I do, but you definitely need a great front end management for your business. If you know you’re not so great at managing your business, don’t deceive yourself, think other than yourself, who else can come on board to assist you, it could probably be in form of employment or partnership; put the business first. The person might be the manager if you really love the CEO name, but most importantly, if your business is failing due to your inabilities as the CEO, look for someone who can CEO better than you. The most important asset in a business is the organisation itself, not the products or the marketing and definitely not the CEO.
If you’re scared of someone stealing your idea, you can keep starving your business of success, till there finally isn’t a business.
When choosing your CEO or your partner, make sure you employ legal agreements that define each person’s rights, percentages and roles. An MOU will also be good too.
Don’t be scared of taking risks, be scared of remaining stagnant.
Mr CEO, who ever you are, be realistic, be strategic, understand the company’s mission and vision and work according to it. Set long and short term goals. Stay true to the mission- the mission comes first, then the team and yourself should come last.
When it starts to get easy, EXPAND
Think WITTEE! Think Intelligence

Sunday, October 1, 2017

LAZINESS BUILDS BRANDS

The Brand Is Worth More Than The Business

A while back, I was chatting with a friend who just started an NGO with a beautiful motive and wonderful ideas, but she needed to raise money through sponsors and donations. I told her to create a system to make it very easy for people to make donations online which would be much easier and faster. During our session, while doing the SWOT analysis for her organisation, I mentioned to her, 'LAZINESS BUILDS BRANDS!!! she flared up insisting she's not lazy, Laziness can never describe her and so much more in her defense. I thank God we were chatting that day, If it was a face to face meeting, I can almost bet she might have beaten me up that day. I later explained the concept and she understood.

Laziness builds the best multi-national brands till date. Laziness in brand building doesn't mean you as the brand should go weak with business implementation and activities. It rather means, the brand should do all the work for the customers and the only thing customers have to do is to fully rely on the brand to meet their needs without them going through any stress. Does that make sense?

Why do you prefer shopping on JUMIA?
Why do you prefer doing your searches on Google?
Why do you prefer buying/repairing your phones with SLOT?

or 

How did you become a fan of coca-cola?
Why do you like to eat Indomie noodles?
What makes noodles different from spaghetti?

The answers to these questions, are born out of laziness.
JUMIA - E-commerce site where you buy the best products from the comfort of even your toilet and only pay when they are delivered to your sitting room.

GOOGLE- Information database that has or links you to almost everything in the world, both past, future and present and is accessible from any internet enabled device.

SLOT- Trusted gadget merchant with excellent services and so many branches all over Nigeria with a good return policy and efficient warranty.

COCA-COLA- World re-known soda brand available everywhere in the world. Sold by every kiosk, bar, hawker etc. Even unconsciously, some people mention the name coke even when they intend buying another soda brand.

INDOMIE- Most popular noodles brand in Nigeria. Available in all stores, easy to prepare and comes in various sizes and flavors. 
Spaghetti has more nutrients than noodles, it's more filling and less expensive but because spaghetti would cook for nothing less than 30 minutes and it requires some cooking skills, Noodles is preferred by most.

All these brands understand the needs of their customers and work so hard to meet them while improving their services everyday to make their customers lazier and loyal.

Laziness builds brand Loyalty


In our own way, we are all lazy. What motivates me might not motivate you. We all have mood swings. For any brand to be successful, the brand needs to take it as a responsibility to ensure that even in times when the customer is psychologically unstable, your brand still comes first when they need your service. Such is achieved when customers can easily access your brands' products/services very fast without any stress. That way, even when competing brands arise, your customer remains loyal since its easier to purchase from you than your competition.

Put your customer's interest first.

In business, the interest hierarchy should go like this -CUSTOMER - SUPPLIER - EMPLOYEES - ENTREPRENEUR.

Your customers interest should always come first , hence the saying 'customers are always right'.
Your suppliers interest should come second, or else, you wont be able to meet up with customer demands and then customers start becoming unhappy.
Employees are next because they are the skeleton of your business, unhappy employees are less productive and less productive employees would reduce customer satisfaction.
If your customers, suppliers and employees are happy, business would be great.
The entrepreneur is happy.

Customers are lazy people who want all the work done for them. Entrepreneurs are hard working people who get paid to build a system that does all the work for them and satisfies a need.
If the entrepreneur becomes lazy, the customers have to become hard working, but since customers have the choice of patronizing competing brands, they won't get hard working, they would rather switch brands and subsequently, loyalty.

Don't strive to meet your customers half way - that only works for love stories.
Meet your customers 98% of the way, make 1% the neutral ground that holds the decision preference of the client and make the client only participate in 1% which is payment.
Laziness would make you a brand leader.
I wish you success in business.

Think WITTEE! Think Intelligence

Monday, February 20, 2017

MAKE IT COUNT

It's been a while I last posted an article, I'm very sorry, I've been a quite busy trying to set up a couple new businesses which I will introduce later on this year.

However, I learnt a couple new things also and concluded on some very minute but very important and tangible tips to achieving business success.

This write-up will focus on the subject line usually referred to as 'USP' - Unique Selling Point.

This is usually what differentiates you from the competition, what stands you out from others or why you are special/unique. Either ways, every business needs that 'USP' factor to be different right?

The amazing thing is you don't need to look too far away to discover or determine your USP. Your USP doesn't necessarily have to be something totally different that you offer which your competition doesn't, it doesn't have to be something free to attract your customers, and neither does it have to be something that will be tangible. The secret to a perfect USP is that it first has to be aligned with your vision and mission statement and even the minutest detail has to be executed to perfection.

Every aspect of your business can be your USP if you let it count. Make every aspect of the business service count, from service to service, from department to department, from when the customer comes in contact with your business, up till the moment when a commitment is made, MAKE IT COUNT. 
It’s the little things that make the big things matter so much, just like the saying little drops of water make an ocean - what happens if the drops of water weren't falling in the right places?
In the bible, the parable of the Talents explains it more as the parable even ended with the saying - To him who has, let more be given. Does that sound fair enough? I think it does, if he who has handles what he has well, why shouldn’t he be given more?



Make the tiniest details count for your client's satisfaction. Focus more on satisfying the client rather than making the sale. According to Chuck Bauer, in his book 'Sales Mastery', it has been discovered that what makes the sale is more a determinant of the confidence of the sales man but not the product to be sold - This is why in many cases, we buy things we don’t actually need.
Likewise, people don't invest in businesses, people invest in people. This is because almost all businesses can make billions if executed perfectly with the right strategy - Who does the execution is what matters the most, same reason you are called for a presentation after submitting a proposal - the investor needs to meet the brain behind the proposal to determine if the person has what it takes to follow through with the execution, including the passion, tenacity and discipline.

One other thing many business, most especially start-ups and small scale business fail to do is to reward customers. Let customers who buy more and who buy regularly feel they are special to you and your business. Occasionally make offers to them and let them understand that they have earned it and they deserve it. You don't necessarily have to make this offer to all your customers, make it especially for your best customers and make them know how special it is so it would count. You could also offer something similar to first time customers.

The backbone of any successful business isn't the product or service offered but the people involved in delivering the product or offering the service. Make everything count to satisfy your customers, this could be as minute as sending your customers birthday messages and even cards, sending them inspirational messages from time to time etc. Make every customer feel like he/she is your No 1. Client, this can only be done when you make it count. If you make it count, they'll keep coming back for more.

Remember, make everything count, the people are more important than the business. Build the relationships before you build the business. Most importantly, God should come first, don't sin against God to satisfy your client. There are so many clients out there dying to do business with you.

I wish to see you succeed. Make it count, you have more than it takes to be successful.

Think WITTEE! Think Intelligence

TOPTAL'S CONTRIBUTION TO BUSINESS INTELLIGENCE

Using data to answer interesting questions is what researchers are busy doing in today’s data driven world. Given huge volumes of data, the challenge of processing and analyzing it is a big one; particularly for statisticians or data analysts who do not have the time to invest in learning business intelligence platforms or technologies provided by Hadoop eco-system, Spark, or NoSQL databases that would help them to analyze terabytes of data in minutes.
The norm today is for researchers or statisticians to build their models on subsets of data in analytics packages like RMATLAB, or Octave, and then give the formulas and data processing steps to IT teams who then build production analytics solutions.
One problem with this approach is that if the researcher realizes something new after running his model on all of the data in production, the process has to be repeated all over again.
What if the researcher could work with a MongoDB developer and run his analysis on all of the production data and use it as his exploratory dataset, without having to learn any new technology or complex programming languages, or even SQL?
mongodb and business intelligence
to read the full article, click this link Toptal

Monday, September 12, 2016

STOP USING YOUR MIRROR - 3 REASONS


   STOP USING YOUR MIRROR

You're probably wondering why I decided to write about your mirror. 
What could be wrong with using a mirror? or what's EhlWITTEE's business with my mirror? 
Even though I've never been a fan of the camera and mirrors likewise, let's consider this from a different perspective, My own perspective, EhlWITTEE's point of view.

Imagine you're at a junction and about crossing a road, you can see the cars moving to and fro, but beyond that, you can see the other side of the road. In this scenario, the other side of the road is your goal and that's your immediate future that you're seeing and trying to achieve. 
My question now is, 'After you cross the road and achieve your immediate future, What's next?'

Most of us are at this junction in our lives, probably thinking you need a new job, you need to start your own business, you want to go for masters, probably NYSC, or what so ever the immediate future you're seeing is. 
There is a process and there is a goal. But life goes beyond just one goal. 

You should have your long term goals and short term goals. 

Many of us just have short term goals like when trying to cross the road. The short term goals are what should lead to the Long term goals. As such, you can clearly decide and discern if your short term goals will lead you to achieving the long term goals. 
When you can do this, you are better informed in your decision making process.

That is exactly how your mirror works. 
Those short term goals are the mirror effects. Your mirror only shows you your immediate surrounding. Except if you're futuristic with long term goals, you're just floating in the direction the waves of present circumstances and uncertainty pushes you.

THE WAY OUT

Apart from the question, What will I eat?
Here are my three favorite questions. You must give a well detailed answer to each of these questions in order to determine your present state in life, understand where you're going and where you should be. 
These questions if sincerely and properly answered, will give you a sense of direction.

1- Where do you see yourself in the next 10 years?
2- Where do you see yourself in the next 5 years?
3- Where do you see yourself in the next 2 years?


Your answers to these questions should be Specific, Measurable, Achievable, Realistic and Time bound (SMART).

Its easier answering them in the order I arranged them and not chronologically.
Soon as you answer question 1, you have an idea of what your answer to question 2 should be, which would also lead you to fill in the gaps for question 3. 

Your answer to question 3 should lead you to achieving your answer to question 2, which in turn, should help you achieve your answer to question 1.

The next step should then be to determine the steps you should take and not to take to get to where you want to be in the next 10 years.

This is where strategy and planning comes in.

Take time out today to re-think your life and re-trace your footsteps.

If you find out you're way off track your life goals right now, don't be dismayed.
With a positive mindset, you realise what you are doing is just a means to an end.

Let God direct you, Joseph went through so many off track experiences, unknowing to him, the pit, potiphar's wife and the prison were all the means to an end which was God's divine plan for him.

You can't do it alone, involve God.

I wish to see you succeed. Plan your life and be great.

Think WITTEE! Think Intelligence

Wednesday, August 24, 2016

DO YOU WANT EASY?

The Easy life is actually easy

The Information age has made money making much easier for those who can adapt to change. Your ability to adapt to change and maximize the growing potentials of the world around you will determine how far you can strive in success.

It doesn't take money to make money, it takes knowledge to make money - Times have changed, the rules have changed

Hard work is great for stress, Smart work is great for success

You must have heard the saying,'You break your health to get wealth and then, spend your wealth to get health'

This is so for most people. The more painful thing is that in the end, many people don't even have enough of the wealth to revive their health. Sadly, most people die of Money sickness. Money sickness could be in form of cancer, arthritis, hypertension, stroke, HBP etc. I call it money sickness because most people acquire this sicknesses in their pursuit for money.

Money is not the most important thing in life, but money does affect everything that is important :richdad

Many people, when asked the last time they went for a check up, comfortably ate 3 square meals in a day, rested for a whole day or even took a vacation; you hear the most silly excuse, 'I don't have the time'. But the time is created when the body breaks down.
Let's compare our body to a generator set. The generator worsks itself to power other electrical alliances, just as we work ourselves to meet all our needs. If the fuel or engine oil isn't enough in the gen, it goes off or doesn't work properly. Likewise, If the gen is left working for too long without servicing, it develops fault. Many of us don't service our bodies by going to the doctor, many of us don't refill our bodies by eating the right things at the right time and by resting.

We all want wealth, but we dont want to get the wealth and be given a time frame to spend it. God forbid after the wealth comes, the doctor also comes up with a terminal sickness or a food menu of what we can eat and cannot eat. If you ask me that's the worst, because I like food.

If your current job isn't allowing you take care of yourself, my dear, find an alternative for your own good. God forbid anything happens to you, in less than a month, your boss will find someone else. If you're an entrepreneur, God forbid anything happens to you, your next of kin takes over all the dividends of your years of destroying your body,. It gets worse if your next of kin can't handle the business and ruins it. For some of us who are probably thinking of quitting our job, I recommend the book,'Before you quit your job' by Robert Kiyosaki & Sharon L.Letcher.

For those of us who are entrepreneurs, I recommend you go back to your drawing board and work out a plan to bring experts on board who can lessen the burden on you. When you work smart, you achieve more. Warren Buffet, Bill gates, Mike Adenuga all have employees who work hard to increase the value of their businesses. Stop decieving youself with the notion that no one else can handle your business better than you. You will definitely find better professionals who will lessen the burden on you, provided your business has the right framework, both legal and financial.
Think ahead of your now, what's the value of money if you loose the freedom to spend it as you please.

Think WITTEE! Think Intelligence

Tuesday, August 16, 2016

COMMUNICATION FOR BUSINESS GROWTH

Communication is the most important skill of any entrepreneur.


In my previous post, I wrote about getting your dream job. If you haven't read that post, click here.
However I personally prefer entrepreneurship, maybe because I'm an entrepreneur and I understand the dividends as compared to a 9-5 job. This week, I'll exposing the secret to great leadership and entrepreneurship.
This secret is effective communication.

As an entrepreneur, you must possess these two types of communication skills, and not just possess, but master them.

1- Interpersonal communication - This is simply self control. Business can be very challenging. When the going gets tough, only the tough get...............
Times of business challenges are when the true character of the entrepreneur is revealed. As an entrepreneur, you must possess strength of character. You character should never change due to challenges in business. For instance, some entrepreneurs go into hiding when they can't pay bad debts or some may device means to rip off customers to make extra-profit, some entrepreneurs would make mistakes and blame employees. As an entrepreneur, you must take responsibility for everything in the business, even when its the employee that makes the mistake. Focus on integrity and master your internal self.
When you face challenges, stick to your core mission and don't give up. Challenges would only make you stronger and smarter. If you break in the face of challenges, you're no better than you were yesterday, you've not grown, you're not smarter than you were yesterday. No matter how long it may last, you ability to face the problem and solve it is what makes you a true entrepreneur.

2- Interpersonal communication- is the ability of the entrepreneur to manage people effectively.
                                               Business is easy, managing people is hard. 

Its the job of the entrepreneur to gather different individuals and forge them into a team who would give their best to achieve the goal of the entrepreneur. Subsequently, its also the job of the entrepreneur to convince investors that his business is the best business they can put their money into and to make them trust him. The entrepreneur has to explain to customers why they can't do without his/her product or service and let them understand that his/her brand is the best that's available in the market. If you're not good at working with people, entrepreneurship is not for you.

You need great communication to convince people to give you their money for an idea that hasn't even become full reality yet. How do you get investors for business when you're not good at communicating your thoughts and ideas.
Communication in this regards goes beyond language. Its more of self expression and your ability to make people understand what you want them to. Its your ability to propel people to action to achieve a goal.

Let's take a deeper look at how communication can affect your affect your business.

Communication is necessary for success in all departments of the business.
These departments include - Mission, Team, Leadership, Cash-flow, Communication, Legal, Systems and Product :copied from Richdad's B-I Triangle.

The team won't properly understand the mission of the business if the entrepreneur doesn't communicate it well to them. Even the entrepreneur won't be able to come up with a realistic mission if he has a weak character.
The entrepreneur, who would initially lead the team, wont do it well without effective communication at all the levels.
Cash-flow is only consistent when communication at the sales and marketing level flows freely and effectively.
The Legal aspect is useless without effective communication, instead of company management, it becomes crisis management if communication at this level isn't effective.
The systems is basically how the different parts of the business works including production, staff structure etc. Imagine a company where all the departments don't work in unity or all the department heads are in disagreement; that's not a company, that's a mob.

Basically, as an entrepreneur, communication skills is what should first be developed. You don't need to be an expert in all the skills needed to run your business, but you need to be an expert to get people who have the skills required to run your business.

I doubt if Dangote knows how to mine limestone to produce Dangote Cement, nor does he know how to extract sugar for Dangote Sugar but these two products are the fastest selling in the Nigerian market today with over a thousand units produced daily.

Communication can either build or break you and your business. 

To gain effective communication skills, you will need to learn it. Read motivational books, read books on Leadership, read books on strategy; I would recommend, 'The ART of WAR' -SUN TZU : translated by Thomas Cleary, 'The Leader within you' - by Myles Munroe. Also read, 'Before you quit your Job'- by Robert Kiyosaki and Sharon L Letcher.

As a true entrepreneur, communication would take you farther than talent can. Communication first with God, within yourself and with others. You're good to go. Adolph Hitler, Alexander the Great, Nelson Mandela and all other motivational speakers and Men of History all had great communication skills which is why they were effective leaders. You can't be a leader with bad communication skills.

Develop yourself, communicate well, build your team, build your business. Be a leader, Be great. I wish you success in your chosen field.

Think WITTEE! Think Intelligence