When I was younger about 7-10 years ago, I thought that the world was a fair playground due to my naivety. Later, through experience, I discovered that business is a war zone. I usually see many young testosterone-filled guys trying their luck in business only to fail and lose their capital. It is a necessary requirement that any man will undergo a baptism of fire at some stage and at many stages. Indeed, I still have a lot to learn in future.
What most young guys never ask themselves is, “What is your edge?”. An edge is anything that gives you an advantage over competitors. Before starting a business, this is the most important part you need to know. Business, like most things in life, is pure competition. If you don’t have an edge over your competitors, they will take your lunch money. You MUST have an edge to survive in any business. I will give examples:
You want to start an electronics shop. You better know how to import them without paying taxes. That is the edge. If you pay taxes, you won’t hack it because the guys that don’t will undercut your prices. Most successful businessmen will never tell you where they source their goods, because that is their edge.
You want to win a tender. Who are you partnering with from the inside?? That is your edge. If you think that you will win by being a nice guy, you won’t last. Sure, you may win one or two tenders (small ones) every decade out of sheer luck.
Company ABC is planning to build facility XYZ in location 123. You better know that before everyone else and buy prime land there for speculation. That information, that isn’t public, is your edge.
Even Coca Cola has a secret recipe. That’s their edge over other soft-drink manufacturers.
So, young lions, the concept of fair competition in business, or anything else in life does not exist. You MUST have an edge in business, the same way you wouldn’t bring a knife to a gunfight.
there is nothing like fair play and most parents lie to their children. they drink wine and preach water. this is why some well to do parents bring up non starters and mediocre people.
Well said, also in business there are a lot of frustrations in service delivery. Make yours the one to look out for even if it means locking out some opportunities that will make you fail… Reputation wise
Somalis are slowly edging out Kikuyus in business due to their honesty and evading taxes making their products dirt cheap. Sahii luthuli kupata shiny eye anauza TV ama simu is almost impossible. 10 years ago, that was their niche, na kuibia watu giving that street a bad name.
Sahii ata slayqueens huenda kujinunulia TV hao wenyewe juu ya these somalis
Common sense…this stuff psychs people up but when the rubber meets the road ndio utajua hujui…nobody goes into business without knowing these. Lakini tukiosma hii hapa leo were so jazzed kesho tunakuna kichwa
May I also chime in and add… The same applies to employment. Your colleagues are not there to make it easy for you, all of you are there to shine and gain favour from the powers that be… Let no one lie to you and try to make you the rebel of whatever sort in the workplace.
Kiss ass and ensure your own individual survival. Get that paper and be smart.
true entrepreneurs know that you should always have your price a bit higher than it should be
kwanza ka unajua what you offer is quality, hutastress over the price una attach