Kennedy Wariua of IBM Global Entrepreneur was one of the key speakers at the function.
Is your business model sound, by any chance? If not, it is one among the key reasons your money-making idea does not rake in super-normal profits or does not impact positively on the community. If yes, it is the opposite.
That is just a summary of the valuable nuggets shared at the IBM-sponsored focus talk held at C4Dlab on August 8 this year. On the particular day from about 10 a.m., participants were giving audience to IBM Kenya experts as they were sharing their valuable knowhow regarding optimal success in business and life in general.
The event, contrary to popular belief that C4DLab activities are tailored to ‘coders’ and ‘techies’ alone, attracted students and professionals from diverse specializations. In any case, all of us do business in one way or another albeit mostly with unfruitful models.
On the whole, one knows whether the model in question is sound if and only if the following condition holds: it is all about defining certain key business-related aspects, which the IBM Kenya facilitators described as follows:
One is on their way to a breakthrough in business so long as they have established their key partners, key activities, resources, value, channels as well as customer segments.
Active members at the recent IBM Kenya facilitation at C4DLab.
Further, the business-minded individual should go on to specify their key revenue streams, cost structure, and customer relationships.After all, a booming business has never been known to satisfy a thousand and one needs of any given customer all at once.
In other words, significant success in business hinges heavily on the ability of the business person to specify one’s line of products or services and offer unbeatable deals in return.
Continuity in taking more risks, addressing unrecognized problems, disrupting established practices, developing more unique products and services, finding valuable partners, establishing key infrastructure, seeking valuable advice and mentoring, market access, appropriate technology and advancing selling skills are all part of the optimum success strategy.
About the writer
Moses Omusolo is the Social Media Manager, C4DLab.