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SMEs: Using the Company End Year Retreat to Fill Your Strategy Execution Gaps, by VICTOR OTIENO

Posted in Entrepreneurship

SMEs Can Use their End Year Retreat to Fill their Strategy Execution Gaps

 

As the year is drawing to a close, most organizational staff cannot wait for the company's end year retreat for them to relax, unwind and indulge in food and drink like their life depended on it.

End year retreat ideally should be fun filled but should always have a learning undertone, especially learning that improves the organization.

One thing that one thing most organizations struggle with without admitting it is strategy execution gap, a situation where the organization has developed a great strategic document that is supposed to guide it for the next five or so years but remains just that; a document.

What to Expect from Your Accountant, by ANN ICHUNGWA

Posted in Entrepreneurship

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Most entrepreneurs are lost when it comes to what they expect from their accountants. In addition, not all business owners are adept at handling finances. However, it’s important as an entrepreneur to familiarize yourself with basic bookkeeping and money management principles and activities. Having consulted for several SMEs, I’ve developed an easy checklist with timelines, that you can use to gauge your understanding of the financial state of your business, as well as what to expect from your accountant.

Preparing for Elections [Entrepreneur's Guide], by CHRIS ODONGO

Posted in Entrepreneurship

 

Preparing for Elections - Entrepreneurs Guide

 

It's exactly twenty days to election day in Kenya and as an entrepreneur and business owner, you have to plan for that day..... No scratch that you have to plan for the day before and the day after..... scratch that... you have to plan for two days before and three days after the election.

In my view, the eve of the election is possibly going to be very calm as campaigns will have ended over the weekend. Most companies will keep their doors closed on that day and you can expect your employees who vote up-country to have taken that day as a leave day and travelled the previous weekend to be ready to cast their vote on 8th August.

That said election day will come and go as people queue and exercise their democratic rights. The day after the election is bound to be too tense for anyone to venture outside and most of your employees will remain glued to the TV set watching results trickle in. 9th of August most MP's position will have been announced and perhaps the presidential results will be called in the evening with two possibilities; celebration or chaos. If it's celebration then you can expect no work to take place on 10th as well and so the entire week will be gone just like that.

The above being the case what should your plan as an entrepreneur look like?

Getting Back Control Over Your Business' Recurrent Expenditure, by ANN ICHUNGWA

Posted in Entrepreneurship

GETTING BACK

 

It is only too true that expenses tend to outstrip income at the start of a business venture and only too few, if any, new businesses are profitable as soon as they are launched. It takes time for a business venture to reach its break-even point and to start making a profit. Hence, keeping a tight control on working capital is essential for entrepreneurs who are focused on a long-term horizon, as a sustainable business can only be built on efficient working capital management systems.

 

Before diving deeper into the vast domain of working capital management, it is important to define precisely what constitutes working capital.

The Subtle Ways in which You May Be Undermining the Success of Your Business, by KIRIINYA KITHINJI

Posted in Entrepreneurship

Undermining Business Success

 

Like most Kenyans, I have been the unwilling recipient of harrowing service experiences in the hands of public officials. In fact, the service reputation of officers in government departments such as the various lands registries is well documented as nothing short of legendary, albeit in the wrong direction. Excellent service is the exception to the rule in many public offices.

The levels of customer service in some of the lands registries are so inadequate, that many clients believe that to get anything done, they need to "know somebody." That's just that the way life is, they reason.

In a sense, I can understand where such clients may be coming from. These long-suffering consumers of public services intuitively sense that they are up against the entrenched, mostly negative cultures that our public officers at the grassroots level are infamous for.

But I doubt that things were always that way.