How do you turn a small business, into a big business? (Part 3). By Strive Masiyiwa
Step 1. Study how organizations are built and managed.
In my first post on this subject, I referred you to a link, showing the five largest companies, in the world, using the measure of revenue generation. I also showed you that revenue generation is just one of the recognized measures we use to assess the size of a business.
I asked the question, how does one build a BIG company, like Walmart, which has a turnover of nearly $500bn, employing over 2 million employees? This company is bigger than the economies of nearly all the African countries, and has more workers, than many countries!
When I started out in business, nearly 30 years ago, one of the first things, I realised was the importance of learning how to build, and manage an organisation.
……….No matter how great your business idea, no matter how smart you are, no matter, how innovative you idea, no matter how much money you raise:
Listen to me:
If you do not know how to build, and manage an organization, you will either fail, or you will never be able to realise your dream.
The difference between those people who are good entrepreneurs, and those who are great entrepreneurs, is the capacity to build and manage an organisation, that is effective, efficient, and innovative, even as it gets bigger and bigger, and bigger.
“This is not something that comes to you naturally. It is a skill you have to acquire, through study and practice.”
Whenever a business fails, if the truth be told, this is 90%, of the reason for the failure.
Unfortunately many people never even realise that this is their problem. They might even get angry, if you suggest that this is the problem.
You can only solve a problem, when you realise that there is a problem…. For those who do not accept they could have such a problem, this is not for you. I’m talking to people who want to turn their businesses, no matter how small they are today, into big, big, global companies…like Walmart or Apple.
In my next post, I want to start giving you some simple but practical principles on how to acquire the skills, necessary to build, and manage an organization. This is a huge subject, so you must be patient.
