Tag Archive for: startup

Quality Fades

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By fiifi DZANSI

Product quality wanes after some years.

A new company’s focus is quality.

This stage is dedicated to crafting a good name and seeking customers.

Owners invest resources experimenting and putting something breathtaking on the shelves.

Customers at this time, too, require something different and fresh.

Queues would form at the door every morning before the shop welcomes visitors.

When a business is young, it has nothing to lose compared to titanic corporations, so it’s more natural to try something new and pump up the quality.

Immediately they grow beyond the neighbourhood, small businesses realise they can’t maintain such high quality at the same price.

Also, resources may not be available to sustain such ambitions.

Then, they cut down on the quality.

After buying products that lasted a decade – consumers soon have to buy newly improved stuff each quarter of the year.

Quality becomes a choice.

It fades when no longer a priority.

Your Environment Counts

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By fiifi DZANSI

A footballer is more likely to win the Ballon d’Or when they play for Real Madrid or Barcelona.

The same is true for entrepreneurs. American startups have a more conducive environment to thrive than those in Ghana.

The environment is already established, and we are planted in it.

We can’t change it. We can only adapt to it.

When starting a business, consider your strengths and your limitations.

Consider your surrounding and see what can thrive there.

If what you want to do will be suited for a different environment then you can more there. 

Otherwise, you need to pursue a different idea.

Do You Have More Office Space?

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Office space

By fiifi DZANSI

There are many startups in bedrooms and garages across the country.

It hurts to see many businesses not being able to move somewhere befitting. Where they can be more productive and scale-up.

The reason?
Rent!
It costs an arm and a leg to get a decent one.
A journey most can’t embark on.

On the other side, we notice businesses occupying mansions downtown. Some of their spaces are not in use.

If your business is in this situation, can you lend part of your office space to a startup to help them get up on their feet?

It’ll be a gesture that contributes to the economy.

Learn To Run Your Business

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Employee folio

By fiifi DZANSI

Ghana government recently announced that its payroll hits the limit, so graduates must turn to entrepreneurship.

Many questions came up.

Will their startups be funded?
Is the economy conducive enough for entrepreneurs?

Let’s debate those questions later.

Usually, before people become entrepreneurs in Ghana, they first learn some vocational skills. They include soap making, bead making, cooking, dressmaking and so on. These skills are highly recommended prompting some NGOs to lend their support.

So much money goes into such training.
However, graduates from such training centres continue to hustle after.

The problem?

Lack of business management skills.
Basic Accounting skills.
Customer service skills.
Management skills.
Basic Brand management skills.

First, you need to learn how to run a business. Be able to spot ideas that can work. This is what should be taught more.

In the end, no matter how revolutionary your product is, if you don’t know how to run a business, you’ll be a goner.

It’s The Little Minority That Matters

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By fiifi DZANSI

When you have courage enough to start your own business, remember nobody owes you anything.
Your family and friends can decide not to be on board.

You need not worry about going viral. Because that’ll likely not happen.

Starting a business is not a democracy where the one with the majority wins.

What matters most is that little group of people who put faith in you.

It’s they you should care for.
The early adopters who’ll blow the trumpet for you.

Start Now

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Ron Conway quote on how to start a business

By fiifi DZANSI

All of us wish to start a business.

But only a few can do so.

Why are they able to when the majority do not have the guts?

It is because:

  1. They don’t overthink their ideas
  2. They are not afraid of failing.
  3. Their intentions are clear.
  4. They believe in themselves.
  5. They do not know it all.

Unless you start, you’ll never know whether you will succeed or not.

Over-Bargaining

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Over-bargaining kills business

By fiifi DZANSI

Under the sweltering sun, Kwame paces back and forth, desperately calling out customers to come to buy his stuff.

He’s not sold anything for days. His two children were dismissed from school because he couldn’t pay their fees.

Many conflicting thoughts racing through his mind at this moment.

To quit for something else or not.

Suddenly, a Range Rover pulls up in front of him. A man with a potbelly comes out.
“How much is that?” asks the man. “
“Only 50.” Replied Kwame.
“No. I can only pay 10.” The man yells.

Kwame will lose by settling for such a mediocre amount. His products are of high quality, and he spends so much time sourcing them.

This is the only customer he’s had for days. Letting him go will be painful. But the man is adamant and presses on.

Kwame weeps.

This is the dilemma of many freelancers in our part of the world. It’s either the client wants to pay so low or with exposure.

Paying low results in a loss.
Exposure, on the other hand, never pays the bills.

What Would You Do For A Dream?

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A woman juggling ideas

By fiifi DZANSI

Often we hear of entrepreneurs who made certain outrageous decisions to pursue their dreams.

Some dropped out of college, while others left their comfort zones to make it all happen.

Stories like these are intriguing and make interesting movies.

At a point, the sacrifice we’re willing to make would determine whether or not our ideas would see the light of day.

The consequences, though, are all ours to reap.

Dream Small And Make It Big

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Everyone says, “Dream big.”

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Be prepared to meet opportunities

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Create. Frequently share your portfolio. And opportunities would come knocking.

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