I joined the Greatness Business Club at Wylde International when my business was at it's knees. I say this because the numbers were not making business sense at all and option of closing was the easier.
The journey at Wylde despite the financial challenges has been a new beginning for my business. The key areas in any business I believe is people, processes and product. These are the three areas I have given priority in turning around the company to profitability.
The recruitment process is handled professionally whereby the full process of advertising to on boarding is done. No more adhoc employment. this has meant introducing JD's, Role profiles, targets and performance,measurement clearly defined and communicated for each role.
Finance being my biggest challenge I'm now working with a Finance Consultant on a retainer fee where we have initiated and implemented
Finance strategy for 2018 and 5 year Finance plan is work in progress.
We have reviewed our laundry services and created a new product for corporate clients.
Director Swirl Laundry.
All Kenyan counties have a burgeoning youthful population segment. Approximately 60% of our population are below 35 years of age. Our education system creates a dependency in these young people, on formal employment, yet we are in a post industrial dispensation.
Agriculture, much of it slash and burn, forms the backbone of the economy. The question that begs an answer is how do we create sustainable livelihoods for all these individuals without consigning them to being minor players in the supply chain of second hand goods, cars and substandard prescription drugs, among other, fast moving consumer goods.
Side hustle has always been considered to be the forte of underpaid employees seeking to shore up their incomes to meet their basic needs. It's often associated with small business ventures such as small kiosk, car wash, movie store among others.
In this day and age of great uncertainty, side hustles must be embraced across organizational functions to include both junior staff and senior managers, by enabling them at the very least to have an extra income stream. A side hustle in this sense may be take the shape of taking up consulting work, speaking engagements, coaching or even developing a product or service.
Private pharmacies in Kenya and Africa in general have traditionally been the first point of contact for healthcare for the general population.
For the longest time now, private local pharmacies have relied on strategic location as their key differentiator or competitive advantage in addition to selling branded drugs, vis-a-vis generic drugs.
Furthermore, the profitability of private pharmacies in Kenya has been fuelled by low cost, driven mostly by sale of fake drugs, fueling a false sense of high profitability by some unregulated and unqualified industry players. The sector faces other myriad of challenges such as stock pilferage, inefficient operations systems, and unsupportive, outdated and inconsistent policies.
- Professional Negligence Redefined, by DR. MELVIN D'LIMA
- Ease of Doing Business in Kenya Index Means Nothing to Kenyan SME Development, by VICTOR OTIENO
- SMEs: Using the Company End Year Retreat to Fill Your Strategy Execution Gaps, by VICTOR OTIENO
- What to Expect from Your Accountant, by ANN ICHUNGWA