Valentine implies a rare expression of love, it is unexpected sign that someone cares, it is out of ordinary activities, it is gesture of appreciation, a caring action.


Business startup

The success of initial stage of a small business depends largely on the owner and his/her one or two assistants.The owner has responsibility of coaching and training the assistants to think and perform business activities as per business policy or guide.

Business Startup

Most people think business is good

Other think business is good and record the reasons why is good

Other think business is good, record the facts and draw the action plans

The successful group record the facts, do a planning followed by implementation and monitoring.These are the people you admire because of their success.

Start at the level you are comfortable , solve the real problems facing people.

Benefits of Business Records Keeping


Good business record keeping enables manager :
• To be able to know if the business is making or losing money in general and on specific jobs or product sales.
• To be able to price business product accurately. Good record keeping will prevent business from selling  products cheaply. A lot of business are making a lot of sales but they are not making profit because they do not keep records to enable them evaluate their business in terms of sales and expenses.
• To enable manager make the tax agencies know how the business is performing.
Any business owner who does not take good record keeping seriously is really creating damage to himself, his business, and ultimately positioning both at a disadvantage position for productivity, impact, and exploit.

Knowledge of profit and loss:
It is very important for any business owner to know if his business is making or losing money. But how can he know? Can he just wake up one morning and make his business provide profit and loss information from nowhere? Of course not! Well, even after owner price his product, he will have to know how his pricing compares with reality. If he is making some bad decisions with his pricing, and he waits until end of the year to find whether he has lost or made money, it may be too late to do anything about it.
Running a business profitably it is tough. It can take a long time for some of manager decisions to prove right or wrong, even with good record keeping . Therefore, the manager should get business records organized and at least be paying attention to it on a daily and monthly basis so that he can see what is happening in time and effect the required changes.

Effective and efficient product pricing:
Product pricing is the first single most important thing a manager have to do in business. He have to charge more than it costs to produce products, otherwise he will be trading at loss. To be able to price product effectively and efficiently, manager will need records that inform him of the number of employee in business, the amount of loan being paid back to lenders, workers compensation bills, electricity bills, rent, product liability insurance, local council bills, advertising, etc.
If a manager do not have these records how can he price his product accurately and position business for success? Pricing products and or services without taking into consideration what it will cost to produce and deliver those services and or products to targeted market is a major step in the path of business failure.
If a business owner is determined to succeed in business he will definitely embrace tasks of organizing records for with it he can get competitive advantage over competitors. Nearly anyone can figure out the direct costs of their product or service – a good set of books will tell business owner just what ought to go into that equation for overhead, and that is the difference between profit and loss.

Knowledge of Cash Flow:
Good business record keeping enables a manager to understand and manage cash flow.
One of the most important things a manager will learn from keeping good records is how to understand and manage cash flow.

Working effectively and efficiently with Bankers:
This is important especially when comparing bank statements and deposits and drawings ,seeking for explanations for any discrepancies ,and taking necessary corrective actions to rectify the discrepancies and putting down the measures to prevent it occurring again .

Organized Business Records.

Normally there are so many activities associated with business operations  ,and these activities usually involve usage of resources .Basically resources means items like money ,information ,labor and materials .Generally ,in the process of meeting customers’  needs , the resources gets depleted or used .The changes in resources may or may not relate to the business growth and expansion ,therefore each business activity need to be closely monitored through business record keeping . These records or data will help in assessing business or process performance in terms of efficiency and effectiveness .The data should be clear and complete ie specific and in details ;these data will be used in preparation  of manufacturing accounts , trading ,profit and loss account ,cash projection , value of business and tax computation .

I personally would recommend hiring of a semi-qualified  junior records keeper right at the start of business, whose  role will be  basically  maintenance of all business documents and records during the early stages of business operations


All things in the observable universe are affected by and obey the laws of thermodynamics ,these laws are cyclic in nature ie. the outcome of a solved problem is a solution + new problem ,this leads to project process of implementation ,monitoring ,evaluation and action ,…..back to implementation .The 2nd.Law of Thermodynamic states “ Energy cannot be completely converted into an equivalent useful amount of work without causing other changes in some part of the system or its surroundings ’’.Consider a system at status S ,for this system to perform work w , it will require a source of external energy q , and since not all energy will go into useful work ,the energy lost/waste ( sink) say f. Therefore the energy change in S , ∆S = q+w+f. ∆S is also called entropy (Greek : change ),it is a property that depends only on the state of a system ,and defined as a measure of degree of chaos ,disorder ,randomness ; the higher the entropy the higher the disorder. The amount of energy converted into work is called efficiency of the system, and this efficiency is always less than 100 % ,because of energy f (unusable energy ) drained to the sink ,this explains the irreversibility of 2nd.Law of Thermodynamics. To improve the efficiency of the system , more efforts need to be directed towards minimizing the energy sink f .Most likely causes of low system efficiency are :- less effective business policies, weak or lack of strategies ,low product/process quality ,poor logistics ,low team morale ,lack of effective assets maintenance plan ,etc.
To improve business efficient ,the business managers and leaders need to develop ways of balancing the efficiency and entropy .They need to be innovative and creative in business operations techniques ,and understand , the final business status is independent of route followed. Business leaders need to develop effective policies and strategies ,while managers need to be focus and effective implementers ,all team members need to appreciate the role of business innovation ,customer value adding activities with one objective of satisfying the existing and new customers.

New year is one of factors required for prosperity .

Finally the new year is with us ,and everyone is wishing the other a successful or prosperous year, what most us forget is that new year is just one of the factors required to succeed . Other factors need to be taken into account in order to achieve prosperity .Energy is required to perform any piece of job from which results are achieved ,and according to Albert Einstein ,energy is expressed in terms of mass and velocity ; and velocity is distance per unit time ,in a specified direction . Therefore it is incorrect to consider new year (time) as the only determinant for prosperity .Other factors of mass and distance must be factored in. Mass in this case will represent physical resources such as machines ,materials ,money ,vision/mission/procedures ,technical expert/knowledge /skilled labour and conducive environment ; and distance will be considered as status change required , in which case both original and desired final status must be qualitatively and quantitatively defined eg. increase of sales by 40 % ,improvement of production by 45 % ,increase of factory efficiency by 35 % ,increase of on job trainings by 50 % ,etc . To clearly understand the initial status of the business ,an assessment by professional auditors may be required ,the auditors will examine every business field ,compare the present results with desired final figures/goals and determine the gap or distance to be covered.
Therefore it is important for anyone willing to attain prosperity ,to analytically consider other time complementing resources ,and take appropriate action(s).

Peculiar Entrepreneurs’ Experiential Learning.


Most of entrepreneurs have a common pattern in their learning styles.
They prefer real active or practical learning ,rather than sitting in a lecture or seminar room. They really like observing business activities (inputs ,the process ,output and challenges ), and getting the best information (in terms of accuracy and details ) from their expert ,they rarely ask questions ,unless when it is necessary ; they obtain a lot of information by observing the general response to issues by the expert .Entrepreneurs are keen observers and listeners ,and hence diagrams ,charts ,graphs , photographs ,visual and audio literatures have special meaning to them . When gathering experience ,they are very specific and focus ,and they will persistently seek the desired knowledge necessary to move their business projects to the next level.
Entrepreneurs are highly enthusiastic and motivated people ,and they will build their businesses on tested and proven scientific principles ,in understanding these principles they are willing to spend long hours with an expert in their respective field of interest ,to enhance their confidence and hence the chance of success ; they learn and practice privately , under an expert’s instructions .Though they may write down their business project plans ,the real and detailed projects blue prints remains in their brains. Entrepreneurs , during the learning stage, they are intelligently royal to their master ,and this royalty is cultivated , increased and extended to their current and prospective customers ,and hence their success .
Entrepreneurs thinks discretely ,they formulate independent and different types of business projects ,and each project was most likely initially scribbled on piece of paper with basic inputs ,transformation process and expected outputs-and likely challenges .These discrete business projects may be used to measure the success of an entrepreneur ;from the number of business projects formulated, and the number of projects implemented ; the entrepreneurial success can be partly calculated.

MSME-and high bank interest

How MSME innovatively circumvent high bank interest rates.
In an environment where commercial banks interest rates on money borrowed fluctuates ; MSME have found themselves in a situation where they are unable to borrow money to finance their business operations or expansions . The interest rates swing from one end to the other , and in some instances when rates are on higher side , MSME are completely unable to service the bank loan , leading to stalled business operations or even to total halt . Depending on law of supply and demand , the bank interest rate can change and even to double the initial interest rate ; this implies to almost doubling the amount of interest to be paid .
MSME entrepreneurs have innovated their own way of financing their micro-business ,and circumventing commercial bank services ; they have grouped themselves according to the bonding-strength of friendship , family , trust , workmate , neighbor , nature of business , etc . Once the desired group membership number is attained ,the members agree on the mode of meeting (place ,date and time ) and contributions per member per meeting .They also agree at the end of each meeting the total money collected will be given to one of the member as per agreed membership list of priority .
The benefits accruing from this innovative arrangement are ;-
(a)no interest is charged on money taken , (b) no repayment period , (c) no loan application costs , (d) encourages saving and development of micro-businesses .
These MSME entrepreneurs groups are informal , and due to their large number and spread they do play a significant role in driving forward the country’s economy .
These informal groupings are commonly known as ‘CHAMA’ an equivalent word English word ‘party’. These groups can also graduate and attain a higher and more formal ‘SACCO’ status with a registered office, while maintaining the same objective of offering cheap financial services to its members , again it is characterized by members- bonding. The benefits arising from SACCO status are :- (a) availability of money at low and fixed interest rate , (b) flexibility of amount to be borrowed , (c) encourages planning and implementation of bigger business projects.

The MSME entrepreneurs have managed to maintain and expand their businesses operations without seeking financial services from established commercial banks . As a matter of concern, some of the commercial banks are now offering free technical advise to these groups .