THE UNCHARTED KNOWLEDGE
Most times it is comfortable to just stick on your career line and not deviate to see what is in the other career lane of your colleagues. We see some careers as adventurers and wish we joined them but my story is based on those we see and say “I will be caught dead in that career”. Being a developer and a tech lover, I always saw business-related careers and knowledge were only meant for sale persons because it is boring and requires a super patient person and my blood is hot for changing things quickly not waiting for them to change.
On this particular aspect, I partnered with my business-oriented cousin to look for a chance to find investors and incubate our project. I was the IT guy and she was going to deal with anything Business. For our project to be incubated, we had to go through a two-week intense training on the way to prepare the business for success and for an investor. In this training, I got to realize the things I never thought of while yet I had spent most of my time coming up with new business ideas to get money with. Things like the business plan, things to pitch for investors with and logistic issues.
I was able to understand that sometimes when delivering products to a customer without a strategic plan on delivery could affect the business. Like if you offered the customer to deliver his order to his door and a chance to return if the item is not favourable, then you would need to figure out how the return would be cost effective. Take for example a customer orders for shoes and you deliver to him but they aren’t the right size. When delivering the logistics are easy because you will just compile a list of customers orders and drop as you go and the transportation will be cheaper. But when the customer declines and returns the shoes it will be quite expensive due to the fact that the single item will be moved from the point of delivery to the collection centre. You will end up paying the logistic company all the profit gained due to such a return policy.
Also there is a need to reach the customers in the cheapest and efficient way possible. Advertising on TV may be the way to go but what if your product could easily target a larger target audience? These opened a third eye for entrepreneurial mind. During the same training we were able to meet some successful start-ups like flexipay. Flexipay gave me a chance to see most of the time we don’t see the small gaps in the market that we can fill. They dealt with lay-by payment system that with how they had handled it they were the next big thing in Africa and across the world.
These aspects were new to me and earlier I had had a negative attitude towards business related things. The training opened my mind to things to think of when trying to come up with a business plan. A good business plan is well thought of before executing and some of the times you need to revisit all the channels even if they seem simple to execute. The simpler a plan looks the high the possibility of having overlooked the needle on the giants heel. It was tough for me specifically but I was able to open up my mind to new dimensions and the most important aspects of a successful business.