Biz

Being Business Minded (Part 4): Uber….EcoCash or M-PESA, are just the same!

One of my young daughters, intrigued by what I said in my first post on being business-minded asked me, “so how does a Mobile Money service, like EcoCash or M-PESA, actually work?”
“It works just like Uber?” I replied.
“How?”, she asked surprised.
“Like Uber, they use a very sophisticated software platform, to link up key partners in the transaction process.
…. Uber relies on independent drivers, who own the cars, and actually carry the people. Our mobile money service, Ecocash relies on thousands of independent small businesses, who handle the actual transactions.
If you think about it, the principles used in these two systems, are exactly the same:
Uber works, as a unique partnership, with the drivers…
Mobile Money transfer systems, works as a unique partnership with thousands of small businesses.”
She stopped and reflected for a moment, then asked:
“Do you think there are other partnerships, out there, that can use, this “Uber/Ecocash” type principle?”
“The opportunities, are actually limitless…. You just have to be business-minded, to find them. Why don’t you think of other services which could be developed using the same principle?”

Being business-minded, is not just about creating new products or services, but sometimes, it is about bringing “disruptive” new ideas, to existing products and services.

……And if you come up with a great idea, be smart: don’t go telling the whole world on Facebook, just do it!”

In my next post, I will tell you a remarkable story about a smart young lady, called Chido.. Who listened to me!

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