Over the last few months, we have talked a lot about entrepreneurship, and I know many of you have been bitten by the entrepreneurship bug, and you are now trying to get something started, or better still, you have already started something.
Others would simply like to see the organisation they work for become bigger, and go outside their region or country.
Over the next few weeks, I want to address the question:
“How do we turn our small business into a big business?”
I know you have a big dream, and a vision to see your business become a national champion, and then probably a regional champion, until it is a continental champion, until ultimately it is a global brand with offices around the world.
Yes, it is possible and you can definitely do it.
One of the things I have learnt in life, is to avoid prescribing formulas. And I know many people would like to be given a formula. When I was at engineering school, I learnt that people who cram formulas are destined to fail. The ones who succeed are those who grasp principles, from which formulas are derived.
I am going to teach you principles; some of which will surprise you. Some of them, will challenge what you have been taught, or have come to believe. I hope you will have an open mind, and where necessary the courage to change somethings.
In the table (link below), which I took from Forbes Magazine, is a list of the world’s largest companies, based on revenue (not market value).
I have chosen this list because of something, I want you to see:
1. Some of these companies have an annual turnover that is as large as the the GDP of Nigeria, Africa’s biggest economy.
2. A company like Walmart, which is owned by an American family, has more than 2 m, employees.
“How is it possible to build and manage organisations of that size?”
(Table: World’s Largest Companies http://goo.gl/jnXkco )
The next generation of African entrepreneurs, must seize themselves with questions like this.
Let’s talk seriously, now!
To be continued…