HOW CEOs, FOUNDERS, BUSINESS OWNERS MAKE BUSINESSES FAIL IN NIGERIA Part-3of5

On BU$I₦£$$ DIG£$T this morning, February 24, 2021


Olajide Abiola wrote last week:

“As a good business leader, you must know how to hire good hands, care for and retain good hands, and fire bad hands or those who go rogue.”

You should not be good in one and bad in another.

You shouldn’t be good at firing and bad at hiring, neither should you be good at hiring and bad at firing.”

The above was written by a friend on the blue app. He is also a Founder, CEO and Business Owner in the Nigeria system and as such, he wrote from huge experience.

I have decided to share it for us to also glean from.

Some CEOs are so weak that they can’t deal with or reprimand a staff. They change attitude and want you to come begging at every opportunity; they deliberately avoid you and say you are avoiding them.

DON’T BE A NICE CEO, BE A KIND ONE!



“Humility is the first step towards learning. You cannot learn until you are humble enough to realize there is something for you to learn.”- Robert Kiyosaki

Without humility your arrogance prevents you from learning. You are too good to learn. It is hardest to learn when someone is teaching something you disagree with.

Remember, you can learn from anything.

I have come to learn that there are three sides to every coin:

-the head,
-the tail,
-the edge.

The edge is where humility is found. It is listening to opposing ideas and opinions without judging and with humility.

It is not easy, but few important things are with humbleness.

So the question is, why does humility seem difficult for some Business Leaders?

-the money they have made!

-the social capital they control!

-the knowledge they have!

Mind you none of these three above is absolute, you can have them and still be humble to learn more.

Now, note that if you are ready to learn, and you are willing to accept the humility required to learn, then consider taking the next advice and look at it objectively.



Coach Sam Obafemi wrote earlier in the week and it aligns with what I have written on this matter:

“HOW TO BE A STRATEGIC ENTREPRENEUR.

I think one of the mistakes many business owners, or those who desire to do business, make is the assumption that they need to do ONLY ONE THING so that their business will be strong.

This is positive and negative.

Positive, because if all your focus is on one craft, you can become the global reference for that craft and by chance, you will succeed very well. But it has severe limitations in clout and wealth potentials.

Negative, because until you branch into several areas of your possibilities, you will be an ’employee-business owner’ … a business owner who has to do a lot of work.

My understanding of entrepreneurship is that I can start a business, build core competencies around it, sell those competencies as services to other businesses and buyers so that I can run multi-level opportunities without having to build a totally new infrastructure, especially if I don’t want to leave my primary business.”

In the Business Model Canvas (BMC)that we teach, this is how we explore REVENUE STREAMS which is one of the 9 building blocks of the BMC.

If you learnt anything from this, kindly share with someone out there.


Yours-In-Entrepreneurship
Dr. Emmanuel Idenyi Shaibu
animn, ace, f.hcd, f.dss, m.frcn, fimc, cmc, cms, FAiPA, DPA
The Millennium Entrepreneur
http://www.emmabglobalconcept.org
MakingAMarkGlobally

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