Business Quotes

In the business world, everyone is paid in two coins:  cash and experience.  Take the experience first; the cash will come later.  ~Harold Geneen

A business that makes nothing but money is a poor business.  ~Henry Ford


The absolute fundamental aim is to make money out of satisfying customers.  ~John Egan



Wise are those who learn that the bottom line doesn't always have to be their top priority.  ~William Arthur Ward



Hire character.  Train skill.  ~Peter Schutz

Professionalism is a frame of mind, not a paycheck.  ~Cecil Castle

Revisiting your Business Vision and Mission Statement

When I studied the reasons behind some failed brands, I observed that many of them altered the value of their Mission and Vision statement. Though on paper, the statements remained the same, but in practice, the corporations were doing something else.

I think this is one of the pitfalls of having a successful brand; corporations are tempted to extend it to other products and services. However, I notice that when such ventures fail, the businesses go back to what the company was originally established to do.

For small businesses, the temptation to drift away from the original vision is also there. There is need for entrepreneurs to revisit those statements and ensure that they can innovate, diversify, and extend their products and services while still maintaining the value promised by those statements.

When you develop a compelling vision about your business, it tells you and the society where the business is headed to. It prepares you for the future such that even when things go rough, you feel challenged to press on. That is why your vision statement should be part of you. You don’t just speak about the vision, you live the vision.

You must communicate the vision as you get more people into your business, and continue to nurture and support that vision every day, in every way.

Don’t forget, your Vision is different from your Mission. Your Mission Statement describes what business you are doing, and who your customers are. It gives your business a focus and a direction because it tells the very essence of your business, and how you will move from where you are to your desired destination. One important element about the mission statement is that if properly drafted, it will be broad enough to allow for expansion, and quite narrow to keep you focused.  The mission statement should,

1.     describe what products you are offering;

2.     list the functions your business performs;

3.     identify your customer;

4.     locate your business within the market;

5.     also state the reason why customers would prefer to buy products and services from you.

There is need as a business owner to revisit your vision and mission statement and ensure you are still on course.

What has Valentine Got to do with Business

"February is a historically strong sales month for these small businesses and our data suggests the trend will continue this year," said Glenn Goldman, CEO of Capital Access Network (CAN)

No doubt, good lovers look out for this day 14th February to celebrate their love for one another, however, lovers are not the only ones gaining from this date. Research shows that it could also drive economic growth which businesses can talk advantage of.

Some of the economic activities are that young people usually engaged in include hairdressers, gift shops, restaurants and hotels,etc. It is important that businesses take advantage of this date to drive their profits upward.

So if you have missed out this year, wait for another February where you can prepare with this tips from Natalie Burg, on How Small Businesses Can Avoid Mishaps This Valentine's Day

 

Why Investors are Rushing to Africa

"Africa is growing: Out of the top 10 most important investment destinations today, six are in Africa. [Among those are] Kenya, Angola, South Africa and Nigeria. There is huge potential right now. Everybody is rushing towards it because Africa now has a more stable political climate than ever before. Furthermore, nearly all developed countries are finding it extremely difficult to grow, but Africa is expected to grow probably at 6% in the coming years" Read more: Business Insider

Athough African is not as developed as the rest of the world, there abounds alot of opportunities waiting to be explored. Unfortunately, foreign investors seems to see what we can't see in our land. They are rushing to tap into what mother Africa has got. Its time Africans begin believing in Africa and the opportunities it holds. 

Each country in Africa has its own advantage, and its time to explore them.