Useful Business Lessons can be found everywhere – Most recently from the Horsemeat Scandal

A thorough look at this situation based on available information reveals that there must have been flaws in the supply chain, poor risk management practices and elements of greed. These tendencies must be avoided if you wish to have sustainable growth in business. Note that the suppliers and retailers involved in this chain may end up losing more than they have gained from this scheme.

I am one who strongly believe that lifelong lessons that can be used for improving your business venture can be found in virtually every aspect of life. You just need to be a little more discerning and spot things differently. Sometimes, all you need to do is spot “order” out of a situation that is in complete “disorder”.

Before now, I have written two posts on business lessons from the US Republican Nomination race and the Football Pitch. Now, the Horse-meat scandal across Europe is another area to pick relevant lessons from, especially as the major actors are currently trading blames

The big question for me is:

  • What happened to quality assurance checks at the different points of exchange of these meat products?

If samples were tested from the original butchery through the points until they became meatballs, definitely these external elements (horse meat and pork) must have been detected somewhere along the chain. I am really amazed that this can happen in Europe. What happened to risk management practices along the overall chain?

Link

7 Steps for Starting a Social Enterprise

 Have you identified a problem in your community which you can solve using an effective business solution?

Do you have stirrings inside of you that continually push you to start a social enterprise?

Then, read, eat and sleep the seven tips laid out by Devon Ysaguirre on Forbes.

These seven tips are very good pointers towards helping you start your Social Enterprise.

Tell us how it goes.

Business Lessons from the Football Pitch

The 2013 African Nations Cup tournament is underway in South Africa and entered its knockout stages today. Starting today, there is no second chance for any team. The team either wins or loses; progress to the next stage or board the next flight home. You might ask! What has this got to do with my business venture?

To be successful in business, especially for start-ups, you have to appraise your venture like a football game every now and then, constantly looking out for punishable mistakes and devising strategies that will keep you on top at all times. Some of the tips below are not only useful on the football pitch, but can help ensure that your venture stays successful in the market place regardless of the competitive landscape.  

  • First and foremost, It’s never over until it is really over. Be it a proposal to win new business, a new project, customer acquisition, new branding etc. Never take your eyes off the goal and ensure that you and your team remain motivated till the very end.
  • Understand what fatal mistakes you should never make in business. Certain mistakes can lead to revenue loss, reduction in market share, reputational loss etc; but ensure that everyone on your team understands the type of mistakes than can take the company under. Also, be sure to avoid repetition of these seemingly small mistakes as they can continually erode value and weaken the business. 
  • Make good use of open opportunities (counter-attacks)
  • Never be comfortable with a 1-0 lead. Ensure that you are fully aware of what the competition is up to. Constantly get feedback from your customers and incorporate the feedback to improve product and service delivery.

There is so much to learn from football games as a business person. Keep that mindset of having only ninety minutes and you will run a much more nimble and responsive business venture.

More tips soon….Comments welcome….