Wealth Watch: African businesses value or handicap Part I

José Santiago Worldwide Asset Protection Specialist

José Santiago
Worldwide Asset Protection Specialist

By Jose Santiago

Do you know of anyone, relative or not, who has been running his/her business for decades but cannot get off the ground?

Do you know of anyone, working day and night but continue poor? Do you wonder why that is? Find out below, so then if you are an entrepreneur or business owner you won’t make the same mistakes.

It is a known fact that in capitalist societies businesses are the engines which fuel the entire economy from job creation, wealth creation, social services, well-being, taxes generation, balance in power, Crime prevention, scientific development, education development, competitive advantage, trade balance, amongst other things.

This means the collapse or in existence of businesses seals the demise of the entire society. We might not have thought of that but this is the hard reality. No wonder most of our countries are in poor state dragging us along with it.

Africans are known to be very entrepreneurs, since most of the time the day job is not enough to sustain our standard of living (or at least to keep our heads above the water) so as a result we always engage ourselves with a little bit extra to balance the books. This places us as one of the hardest workers, if not the hardest.  Even with all of this effort we still most of the time can barely make it. So, what is missing?

In this article we will concentrate on the following:

–    Reasons why all the 50, 60, 70 hours a week we put in turns not to be enough for us to make a decent living.
–    Why our businesses do not succeed long enough to be a rock solid force in our economies?
–    Identify the main root of the problem
–    Few simple but very powerful ways to become more productive
–    5 proven ways of doubling your income and improving your time off
–    Proven techniques which guarantee your financial independence in few years
–    5 powerful ways of reducing your stress and earn more
–    5 ways of guaranteeing your children will never need a scholarship

As hard workers we work and work and work however the value we contribute to the employer and for ourselves is very marginal and consequently we are rewarded very marginally. As it happens we fall into the trend of being content with our luck and always looking for reasons and whom to blame than ourselves for lack of drive. One of the major reasons is because we lack self-confidence which prevents us from taking the necessary risks for progression.

We all believe in secure job but the so called security, which is no longer the case, has a huge price – limited independence. While we earn little we cannot do what we actually wanted and we cannot aspire higher ourselves let alone for our children. So, we are responsible for the whole process of our own demise. Obviously we can go along and continue to blame the government, the colonisers, the western, the white men, the bad luck, etc, etc but the fact is that we are the one to blame.

The day we bring our ambitions into the agenda that day we will do wonders. Lack of self-confidence is also derived on the fact that we preoccupy very little with quality, with ambition and drive of been the best in the world. The only way you can survive in the competitive market is to be competitive and for that you must have competitive edge, quality, knowledge, drive, etc. you don’t have one? Get one…

Most of the time when we open a business is to get by, survive and not to make money or become rich and powerful. This is the reason why most of our businesses close down in very short of period and the ones which survive stay stagnant for decades perpetrating the poverty of its owners.

It is amazing to see how many African entrepreneurs who are hugely worse off after 5 or 10 years in business. In other parts of the world after 5, 10 years you see a visible prosperity of business owners. Why not us? Why all of us want to do trading? What is the benefit in trading? What is the added valued?

Frankly speaking none with huge burden of being capital intensive, demand time, physical presence, and man hour’s intensive, low value and even after making profits for 2-3 years one catastrophe then this is the end. The whole stock was washed away by tornado, burn by fire, etc etc. why 60 – 80% of us still do it?

Let’s have a discussion…. Tell me what you think. Is it worth chatting about this? Let’s have a bit of fun. Want to know more and add a comment please do so by writing to editor@zambianeye.com

To be continued…. Part 2