Moving from one level to the next in business is dependent on your capacity in the marketplace. Money without capacity can be disastrous. Moses’ leadership exposure in Egypt gave him the opportunity to learn how to manage people, time and resources. He must have started with managing 50 people and then from 1000 to 5000, so it’s important that you start small. Eventually, Moses was able to move 1.5 Million people through the wilderness – that’s quite a logistics business! No one else has ever achieved that feat.
As we consider building capacity, can you confidently answer any of the following questions:
- Do you have the capacity to manage N50m, then N100m and then N1bn?
- What will you do with N1bn if you suddenly got an offer right now?
- Will you invest it in your business or which other industry is most lucrative to you, technology, oil and gas, real estate?
Which do you think and why?
Two things will happen to you if you have not built capacity; You either bungle or waste an opportunity and may affect your company image or you waste valuable resources. Every business needs a certain amount of cash flow per time to grow. So it’s your responsibility to determine what your business needs per time. Too much cash can sniffle creativity in business because we tend to want to use the money to solve every problem instead of innovation or creativity. Any amount of money that cannot be absorbed by your business will be wasted through frivolous and unnecessary expenses.
Once again, you should realize that your capacity can limit how far your business can grow. Eventually, who you are is a reflection of what you can handle per time.
- Is it wise to take the money you don’t need? Please share your opinion with us on our Instagram (@iam.whitolive) and Twitter (@iamwhiteolive) handles.
Fear has no place in business and If you have not added anything new this year then you are not building capacity. Are you reactive or responsive? For you to remain in business you must be responsive. Note the key role of social capital – integrity in business. Build credibility and integrity because it will bring forth more opportunities.
You have to know the environment in which your business operates. The business environment is key so you have some measure of control over what you can control. The greatest resource of any business is people – Human Capital. How do you manage your people? Treat people with care and better than the way you treat money.
What is the quality of your decision making? How qualitative is your decision? Make objective decisions devoid of emotions. Be bold and courageous. It is infectious. Making money is tough, it’s like getting money from the mouth of the lion and don’t forget to take personal development seriously.