Bitature talk #2

Part 2 is finally here and this will mark the end of Bitature talks on the blog. Part 2  covers the business tips that stood out for me and the ones I am looking to implement. Feel free to pause and think critically on ever point and write down your answers. PS;They are in no particular order.

+Have a plan.You can`t do anything well without a plan. For any business to succeed, you must have a proper plan, short and long term. Never start anything without a plan.

+What product/ service are you offering. You must be sure of what you are offering.Your surety is what sets you apart from the already existing products/services.

+What`s your marketing strategy? Now that your certain about your product/service, what`s your marketing strategy? How ill you get your product/service known?

+Do your research. Know all about your business. The pros and cons, who else is doing it, seasons for the business.

+Keep the business system simple-tailor it to suit you and those your working with.

+Have your accounts straight. I have personally run a business before and one of the things I struggled with was a financial system. I was the law and I got into the habit of using business money to meet my personal needs. Now I know better.

+On partnership in business, partner with people who have what you don`t have. Get people on board who compliment you. They will add flair and spice to the business.

+Find out what your strengths and weaknesses are. These help you to know where to specialize and who to hire for the business.

+On decision making, As the leader in your business, hear other people out and appreciate their opinions. However, make the right decisions for the business.

+Don`t be afraid to experiment. In experimenting, you learn the right way to do and not to do something. Your business will benefit from this greatly.

+Learn business language. Learn from those who are already in business,use google, network. Learn how to write a business letter, make receipts and  quotations. Learn all you can learn on this matter.

+Know where things are. Mr. Bitature narrated an old story where Uganda lacked sugar but he knew where sugar was-in Kenya. He got onto the bus and went to Kenya. He purchased lots of sugar and brought it back to Uganda and sold it off and made profit.

+Stay around progressive people. These are people who are achieving their set goals, taking on opportunities and progressing in all areas of their business. You can`t be around such people and not be challenged to be better.

+Read widely. Leaders are readers. Read on your business, read about people in the same business and learn from them.

+Pace yourself. He built Protea a four star hotel to host guests for  the common wealth meeting held in Uganda in 2007 and now he has built Naguru Skyz Hotel 10 years later. Don`t be in a rush. Understand your business patterns.

protea_kampala
Protea hotel. Source: protea.marriot.com

I hope you can apply these principles from Mr. Bitature to your business whether a start-up or one already running.

Share business tips you have applied and have worked for you. Let`s learn together.

 

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