Biashara Essence

14/05/2017

15/04/2016

23 Killer Business lessons from Shark Tank Show.

Over a period of Three Years I have been watching The show Shark Tank, where entrepreneurs pitch to investors for capital. The show is very interesting and has some great business lessons .

1) If you get what you ask for, take it.
2) Networks matter.
3) Do your homework.
4) Get an advisory board.
5) Know your absolute bottom going into a negotiation.
6) Solve your own problems.
7) Investors buy into people as much as ideas.
8) Do a deal that works for everyone.
9) Listen.
10) Don’t respond to people you’re pitching with disdain or sarcasm – even if they say something nasty.
11) If you can’t sell, learn to.
12) Prepare.
13) Demonstrate your commitment.
14) Patents are extremely valuable. A worthwhile investment if you have something unique.
15) Have options.
16) Ask, “Are there any other offers on the table?”
17) Don’t quibble over small numbers.
18) Ask for something valuable
19) The right partner offers more than financial terms.
20) Don’t tell potential investors they’re wrong.
21) If someone asks you to sell him something, ask, “Why do you want it?”
22) Find investors who are passionate about your business.
23) More Sharks are better than one.

If you find this post educative and thought provoking please Like and Share this post.

13/03/2016

Joe Mwangi, the founder and CEO, Connect movers, a transport company based in Nairobi.

23/02/2016

DIARY OF A ENTREPRENEUR
Shinny Penny Syndrome by Muthoni Muriuki.

I hope you all had a productive day even though we had a very chilly day here in Nairobi. Well,I had.
Today, I want to talk about a problem which most of us suffer from.This is the shiny penny syndrome. Just to explain abit about what this is. Shinny Penny Syndrome or what I like to call is "SPS",is where by business people or people looking to venture into business hear of a business which hits the market and blossoms and all of them go to venture into it.
A good example is the quail business which was the "in business" sometime back. I remember reading about the business in one of our daily newspapers, where an enterpreneur had ventured into it and the numbers he was mentioning as profit were spectacular.

Within a few months, quail eggs were being sold in all kibandas near where I live. The market had overflowed with quails. Everyone was selling and everyone had ventured.

Anyway,my point is that not all glitters is gold. Don't rush into a business just because you see someone else venturing into it. What works for him might not work for you. Do what you love, what you are passionate about. Invest in it.
Let’s all stop the Shinny Penny Syndrome!!!
By Muthoni Muriuki.

15/02/2016

There is an emerging trend of young people who are moving from the comfort of air conditioned offices to the farms.

06/02/2016

One of the most awkward moments in a man's day is those 15 or so minutes you spend at the barber's. It's usually a big problem for people who do not like or are not good at small talk. That piece of cloth meant to protect you from the itchy hair pieces also prevents you from using

05/02/2016

5 tech companies disrupting global multi-billion industries
BY KEN MACHARIA | FEBRUARY 5, 2016
It’s no longer business as usual as the world becomes more connected via the internet. Social media, apps, digital media, connected devices makes the world a global village and in the process, altering life as we know it.

Six of the 10 world’s most valuable brands are tech companies according to a Forbes 2015 ranking with Apple, Google and IBM leading the pack.

Thanks to bold, often lean and innovative start-ups, the business world is now experiencing disruption only compared to the industrial revolution. Old business models are being challenged, traditional channels are made obsolete and service delivery is redefined. We look at 5 tech companies disrupting conventional business across the world, including Kenya.

Uber – How we get around



The on-going threat by Nairobi taxi operators to paralyse the city over what they deem as Uber’s unfair pricing practices is a perfect example of the disruptive force tech companies have. Taxi-hailing app Uber is arguably the technology that is causing most urban transport upheaval in many regions in the world.

The app, which allows users to pick a cab at the tap of button on their smartphones, is causing so much disruption around the globe to a point courts are stepping in to resolve conflicts between Uber on one side and conventional taxi associations/authorities on the other.

Uber is available in 58 countries and over 290 cities including Nairobi but has faced innumerable bans, demos, court injunctions and suspensions in a number of cities. In spite of the stiff opposition, Uber is now the biggest taxi company in the world without a single cab. 250,000 people have signed up as Uber drivers, making 140 million rides in 2014 alone. According to Business Insider, Uber generated $10 billion in revenues in 2015.

Airbnb – How we take vacations

Airbnb

Air bed and breakfast, or Airbnb, provides a web platform, android and iOS app that connects owners of apartments, houses or holiday homes with people looking for short term accommodation. Airbnb has 1.2 million listings spread in 190 countries including Kenya, making Airbnb inc. the largest hospitality network within a span of 8 years, yet it doesn’t own a single room. The company, founded by friends Brian Chesky and Joe Gebbia, charges service fees of up to 12 percent of the booking. Although Airbnb has not faced widespread resistance as Uber, it has nevertheless disrupted the hotel industry by providing alternative accommodation to over 35 million guests that use the platform.

The company, founded by friends Brian Chesky and Joe Gebbia, charges service fees of up to 12 percent of the booking. Although Airbnb has not faced widespread resistance as Uber, it has nevertheless disrupted the hotel industry by providing alternative accommodation to over 35 million guests that use the platform.

Netflix – How we watch TV

netflix

Netflix turns any internet connected device – computer, tablet, smartphone, video game console into a video-on-demand service. What started off as a video renting company in 1997 grew into a DVD renting business through mail, and then later, added a video streaming service which now has over 60 million subscribers who pay a flat rate to watch unlimited videos. Netflix, which is now the largest movie rental service, has grown rapidly in the last 5 years and is available in 40 countries. Netflix’s debut in Kenya in already causing discomfort to regulators like the Kenya Film Classification Board saying Netflix is ‘a threat to national security.’ Netflix is essentially encroaching the space of traditional TV channels by giving consumers the choice to watch what they

Netflix, which is now the largest movie rental service, has grown rapidly in the last 5 years and is available in 40 countries. Netflix’s debut in Kenya is already causing discomfort to regulators like the Kenya Film Classification Board who have termed Netflix ‘a threat to national security.’ Netflix is essentially encroaching the space of traditional TV channels by giving consumers the choice to watch what they want, when they want.

Alibaba – How we shop

Jack Ma, founder of Chinese e-commerce giant Alibaba, has been overtaken as China's richest man according to a new wealth survey/AFP
Jack Ma, founder of Chinese e-commerce giant Alibaba, has been overtaken as China’s richest man according to a new wealth survey
Former English teacher, Jack Ma, started Alibaba.com in 1999 with the aim of creating a business-to-business online marketplace. Today, Alibaba is the world’s largest online trading platform for SMEs and is available in more than 250 countries.

What makes Alibaba disruptive is the fact that it has captured online shoppers in the biggest single e-commerce market in the world, China, and is rapidly spreading across the globe. In Kenya, Alibaba is currently the most visited trading website and in the top 25 most visited sites according to website ranking tool, Alexa. Alibaba, with 350 million active users and $420B in sales, has eclipsed more established players like Amazon and Ebay.

Alibaba Group has expanded to include a consumer to consumer e-commerce platform, a third-party online payment platform, a comparison shopping website and a cloud computing company, all challenging

In Kenya, Alibaba is currently the most visited trading website and in the top 25 most visited sites according to website ranking tool, Alexa. With 350 million active users and $420B in sales, the e-commerce platform has eclipsed more established players like Amazon and Ebay. Alibaba Group has expanded to include a consumer to consumer e-commerce platform, a third-party online payment platform, a comparison shopping website and a cloud computing company, all challenging long-established businesses and models.

WhatsApp – How we communicate

whatsapp

Before Facebook bought Whatsapp for $16B, it was inconceivable how a messaging app could sell for so much, considering Microsoft bought Nokia mobile for $7 billion. But looking at the numbers behind Whatsapp, it is easy to see why Facebook splashed billions to acquire a two-man startup who had earlier applied (and were rejected) for vacancies at Facebook.

Zuckerberg has just announced WhatsApp has crossed 1 Billion active users sending and receiving messages, images, videos and audio clips via the internet. Whatsapp announced users can make calls via VOIP.

This is likely to eat into mobile operator’s voice revenues as it is already doing with SMS. Whatsapp has obliterated other chat apps by simplifying registration where only your phone number is needed, deliberately making it ads-free and a simple user interface. Whatsapp is free to use but Facebook is exploring ways of integrating the app for businesses, potentially raking in billions for the owners.

04/02/2016

http://bizna.co.ke/9-business-ideas-drove-kenyans-crazy-crashed/

21/01/2016

*************************Breaking loose from traditional ways of doing business************************ courtesy of
Shadrach M Kimanthi
unless we are willing to embrace change and current ways of doing business we shall remain irrelevant to the market. who remembers how popular "simu ya jamii" was? Where is it now?
I came across this post and I felt it was relevant for those aspiring entrepreneurs : " Once upon a time,there was this small beautiful village
named Kong'or in Amagoro location,Teso District (Busia
County) it was a superb place to live with beautiful scenery
and great environment except there was one problem, lack
of water. To solve the water problem issue, the elders
awarded a contract to two people Omanikor and Etyang to
supply the village with water so that the lives of villagers
would be better. The decision to award two people the
contract was to ensure effectiveness and efficiency in the
services of water supply due to competition between the two
people. After the contract was awarded Omanikor
immediately ran to the market bought two 20 litre buckets
and rushed to the river which was miles away from the
village to fetch water to fill the big tank installed in the
central point of the village which would serve the whole
village everyday. Omanikor would fetch four buckets
everyday and worked for 6 days in a week and would charge
Ksh.10 per litre. On the other hand, Etyang disappeared for
6 months. He created a Business plan, went to Nairobi,
looked for investors who funded him, came back and fixed
a pipeline that connected from the river miles away to the
village water tank. On the grand opening ceremony Etyang
announced that the pipeline ensured a steady 24 hour water
supply which was cleaner than Omanikor's and he charged
only 50 cents per litre. The villagers were so happy that they
would not lack water anymore. To combat the competition
Omanikor hired his two sons and bought 2 buckets for each
and they started working 7 days a week and going three
trips a day and he was also forced to lower his prices to
50cents per litre Omanikor worked very hard and was so
tired everyday and his employees too until he faced strikes
by the labour union. Time came for his children to go to
college, and he told them to study faster and return back to
help him in fetching water because they would inherit the
business someday. Unfortunately, they never returned
because they found greener pastures ahead. On the other
hand Etyang discovered that other villages around faced the
same problem of water supply and he sold the idea to them
and made huge money while sleeping.
Moral of the story: Are you working hard hauling buckets
like Omanikor. Or you are working smart having a system/
money/people making money for you day and night, when
working or not working?
Choose to be Financially free and have money, people and
systems working for you."

05/01/2016

MAKE MORE MONEY IN 2016.

Its a new year and we all have something that we plan to change or improve concerning our life in the past year. A research done estimates that 98.7% want above all to grow their financial bracket. Of the 98.2%, 60% are dependent on their jobs and 38.2% are willing to invest in various businesses and opportunities.

Today we are going to focus on the 38.2% willing to employ their money to work for them. This group of people are either employed and ready to start a side hustle or business men and women willing to expand their businesses. So what does one require to make more money this year? Get yourself a pen and Note book and lets get down to having more money this year.

1. FOCUS ON YOURSELF - It all begins with you, before you earn more you need to carry out self audit. A comprehensive audit consist of knowing your liabilities (Expenses) and your Assets (Money Generators). Focusing on what you have gives you a datum point of where you need to start, what you can save on and changes you need to apply in your life so that you realize your goal.

2. HAVE A DEFINED GOAL - State exactly how much to the cent you need to have this year, have a timeline (exact month and day) you need this money and work backwards. E.g. If you need to have Kes. 500,000.00 by December 21st 2016, this translates to 46 weeks - Kes. 10,870.00 per week - Kes. 1,553 per day - Kes. 65per hour. With this information, get back to your assets column and distribute this amounts to every asset as this will help you realize your goal easily without overworking yourself or focusing on one source of income to beat your target. Also study your liabilities column and know which expenses you can cut on that do not add any value to your life.

3. BREAKDOWN YOUR GOAL TO MILESTONES - The best way to achieve any goal is consistent self assessment. This is done by breaking you main goal into micro-goals that can be easily monitored on weekly basis. Review your week, write down all the strengths and weaknesses your week had, plan for the upcoming week and don't let any past failure make you stop you because as Daymond John says "Never give up on a dream because of the time it will take to accomplish it. The time will pass anyway. Make it happen."

4. UNDERSTAND YOUR INVESTMENT - One of the world’s most successful investors, Warren Buffett, cautions against investing in businesses you don’t understand. This means that you should not spend your money in investments you don’t understand their business models. Investing in that which you have experience helps you to mitigate your running costs and avoid pit falls before they happens. Never invest on anything because of the success your friends and colleagues are getting from it, chances are high they never tell what they do when you are sleeping.

5. INVEST LONGTERM - We are a G-Generation where anything we need is a google page away. Making money is never and will never be googled. It needs time, commitment, Hard-work and long-term focus. Am sorry to say that playing will not make you money and if does, count yourself blessed among the millions who had invested in the lottery. Opportunity will never knock on your door, you have to get up and look for it knowing it comes dressed in overalls and looks like work.

6. DIVERSIFY YOUR INVESTMENT - This technique reduces risk by allocating investments among various financial instruments, industries and other categories. It aims to maximize return by investing in different areas that would each react differently to the same event. Examples Join a savings Chama, NSE Stocks and government bonds, Explore other business opportunities under your experience, Purchase Corporate bonds, Capital Investment in your friends companies and many more.

Finally with the all above considered don't forget to Give thanks to God everyday by having a spirit of GRATITUDE for what you already have for there are millions more wishing they were in the same position you are in right now.

Remember that we are always ready to help you achieve your financial success and by investing. Investors you are just a step away to realizing financial freedom.

23/12/2015

FORGET WHAT HAPPENED IN 2015, FOCUS ON 2016:

10 TIPS TO A BETTER/SUCCESSFUL BUSINESS IN
2016:
( For those looking to start a new business and for those in business but feel like keep making mistakes and are not where they want to be)

Hi beautiful people,

Now, this is the one thing we need to remember, we all make mistakes and those mistakes mold us for the better. This year has been a hard one for most of us, but not to worry coz we still have 2016!!
What we need to do is get over what happened this year, and plan on how to do it better next year. This way you will not lose focus or morale..

My two cents...

1. MAKE A LIST: Sit down and make a list of the 'mistakes' you think you made in your business/life: (jot down what you think you did wrong and what you can do to avoid them in future)
2. UNDERSTAND THAT WE GROW EVERYDAY: even with mistakes. Make a list of lessons learnt and how it has made you grow.

3. TAKE SAFE RISKS: In business you have to risk. We all have to. Is that what has been holding you back? Coz If you dont try it,you will never know.
This is how I do it, I think of something, make a plan and run with it. I dont do "what if this or that" I just run with it... But this doesnt mean that you just start something for the sake of it. Play it out in your mind first and if it feels right, do it and leave the rest to God.

4. TALK TO/ TRUST IN GOD: HE know it all, everything belongs to him. He hears and answers prayers.So why are you suffering in your situation when God can minimize your suffering, show you how to change it or completely change it for you? Think about that. Talk to HIM first and he will ease your pain.
5. YOU NEED A MENTOR: We all do. Whats your passion? Whom do you look up to? What do you like about them? Why do you think they are the BEST in what you do? Approach them. Find a way of getting to them and ask them for help. All you need is guidance in your line of career and they can help you. Put your pride down and your business will be better than you ever dreamt.

6. PLAN: Never do anything without a plan. And whatever plan do with God. Plan A & B are not enough. Plan till Z, just in case it doesn't work out the way you expected. Have a good plan and your business and life will be easier and better. Don't do things blindly, you will only end up messing yourself and going back to where you started.
7. STRATEGIZE: This is the mother of them all. You have to have a good strategy to be successful in business. Strategise, strategise, strategise all the way. Good strategies will get you very far.
here is an example of what i mean. a)Whats your passion? b) What business do you want to start c)whats your target market d) What are the steps you need to take to start that business. e)How much money do you want to make per day/month etc.

8. FORGET ABOUT COMPETITION: Competition is real in business where you are only looking to make lots of money. But when you open a business because its your passion, the word 'competition' shouldn't be part of your vocabulary. I don't!! I love my job because its my love/passion. I don't know competition. It doesn't matter to me. If anyone thinks im their competition, that's them. As for me I have no competition because I choose not to!!

9.KEEP NEGATIVITY AT BAY & STOP MAKING EXCUSES: Promise yourself this, all negativity that kept you from success in 2015, you will not carry it to 2016. The things that you tell yourself play a huge role in how things turn out for you. I have learnt and still learning that the hard way. a) this is so hard b) I dont think I can do this c) I failed etc. What comes out of your mouth can make or break you and or your busiess. So let positivity rein. You can do anyhting you put your mind to, so no matter how hard the situation, stay positive.

10. YOU CAN DO ANYTHING YOU PUT YOUR MIND TO: Remember that, always. How do other people do it? Whats the difference between you and them? Answer: Your fear of failure, of the unknown. You are the only one stopping you from SUCCESS!! No one else can keep you from success. People can only put barriers in your way, its up to you how you react and how fast you push aside those barriers and forge ahead. Nothing is impossible. Nothing. And in every situation, there is a solution! NO MATTER HOW HARD.

So, with this in mind lets look forward to an awesome and successful 2016. Lets start afresh and look up to God for the success that we need. Im always here if you need me.

HAPPY HOLIDAYS TO YOU ALL!!

Courtesy of Rose Ntong'ondu