I have been doing business consulting for over five years now professionally.
A lot of what I know today is down to what I studied, what I’ve gone through myself and what I’ve seen the many business owners who seek our help go through.T hat cocktail is the reason for who I am today and where YOUNG TREPS as a business consulting firm is today.
So yes, I’ve made a lot of mistakes myself many from which I’ve learned valuable lessons that I’ve used to help others. Many mistakes that many continue to make every day in their business journey. If you asked me what my biggest mistake was looking back I’d tell you failing to get my priorities right in the start thanks to God I corrected it very fast.
When we started Young Treps about 6 years ago, fresh from quitting my job with a little savings from my molokoni venture I decided to go start my consulting firm. I rented space on one of the premium buildings in town. The rent was about 1M per month and I paid 4 months.
I fully furnished the space with nice furnishing. I mean our office had to leave an impression on visiting clients. They were going to come and come in big numbers we had to look the part.
After four months we had to shift to our current address Ham Towers Makerere. In all the four months we were at our first office no one had ever come into our office even for an inquiry or consultation even when consultations were actually free.
I pulled the plug on that move and went back to the drawing board with reality now setting in. I got all the stuff I had in the office and took them home. I went to Ham Towers and rented a shared office with a desk to work from. Truth is this is what I should have done from the start.
The presumption from the beginning was who doesn’t need business consulting services!? They will come running.
Reality is they never came, not even dragging their feet. So we lost about 7M in those 4 months thanks to failure to get our priorities right. As you draw your business plan on paper or in your head, ask your self what the priorities are.
Get your priorities in order remembering that not every thing that urgent is important and not everything thats important is urgent and here’s where most get it wrong and blow up everything.
Always ask yourself what’s the bare minimum I need to start making money. You don’t have to start with many employees you won’t need in the start.
It’s good to position yourself as a big player or try to fake it till you make it like they say but keep the balance of reality.
If it’s radio you are starting ask what do I need to get on air? You don’t need company cars, posh furniture and 30 staff because the radio station you look to model around has 30 workers.
If you get your priorities right then you have better chances of going all the way to the finish line other wise you’ll run out of gas mid race.
Jaluum Herberts Luwizza is a Speaker,Writer and Contributor with the Nile Post.He is also a Business Consultant at YOUNG TREP East Africa’s No.1 Business Management and Consultancy firm that helps people start and grow profitable businesses.
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