IS YOUR STRATEGY HAULING BUCKETS?

bucketTwo men were hired to bring in water into a village from a dam situated a mile away. The first man bought two buckets. He starting walking to the dam, filling the buckets and bringing them back to the village. From morning till dawn he went on with his strenuous routine.

The second men hired an architect and a builder and they built a pipeline from the dam to the village. Water started flowing freely to the villagers and everyone was happy.

What does this story mean?

Well, the first man is a business owner who works in his own enterprise. He is responsible for the business’ performance, managing it daily with no chance for rest. He cannot even go on holiday because the business cannot function in his absence.

The second man is also a business owner, but he does not work inside his business. He invested in advisers and experts who helped him to build a sustainable business and he hires skilled managers to run it. His business is like a pipeline which brings in income without a need for his presence.

Although most SMEs start with the owner working inside the business, a strategy for success is to build a business that can run without the owner’s presence. Such a business will grow faster and is valuable because you can sell it to someone else and it will continue to thrive.

So what is your strategy?

(For tips on developing a successful strategy, see my book “Three Steps to Developing a Strategy for Growing Your Business”, available from BusinessLink Bookstore)

 

Have a pleasant day

 

Phillip Chichoni

 

NB: The November issue of BusinessLink digital magazine will be out on Wednesday the 5th , subscribe now for $10 for 12 months or get a one issue for $1, call or Whatsapp Christine on 0772 854 301, or come to our office at 3rd Floor Merchant House, 43 Robson Manyika Street, Harare.

PS: Refer a friend for Company or PBC registration, Tax Clearance or Business Planning and earn commission. Yes we give you 15%, call us on 0777 774 007.

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