In Summary
  • So declaring profits is not all it takes to be a good. We have read the reports on the status of our national carrier. So doing well is not just about expansion and scaling.
  • There are so many people with good ideas but they do not know how to translate them into great products. Opportunities and value lie in the product. Not the idea.
  • Beyond the face value of what the product or service is and what it does, a business should connect to the underlying motivation of consumers.

If I asked you to name good businesses, you are likely to point out big companies like Apple, Coca Cola, Bidco, Safaricom etc. These may be great companies but it’s not all about size. If recent events have shown us anything, it’s that size is not all it takes. We have witnessed profitable financial institutions let down clients with bad governance. So declaring profits is not all it takes to be a good. We have read the reports on the status of our national carrier. So doing well is not just about expansion and scaling.

Many times being a big business and being a good business have nothing to do with each other. Making money (for a while) is also not the only factor. I have seen several small businesses that are indeed great but don’t think so because they are ‘small’. SME’s walk around with an inferiority complex because size and money are what many people look at as the benchmark. Those are important but they are not the only measure. I think it’s time we redefine that narrative. What really makes a business good?

CULTURE: ENVIRONMENT, VALUES, BEHAVIOUR AND ASPIRATIONS OF PEOPLE

The most important assets in business are the people. I have entered many offices that feel like death from the entrance. I can immediately tell that the person who greeted me at the reception would rather not be there. As I walk round I can feel the tension in the air. In the actual meeting it is evident only the “boss” is allowed to talk and everybody else simply agrees. I have always wanted to get out of there as fast as possible. Good businesses have great culture. I have walked into other companies and had the complete opposite experience. People look happy to be there.

There is energy and creativity from top to bottom.

Page 1 of 2