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How Elon Musk And Dangote Started Their BUSINESS By Strive Masiyiwa

Indeed in business as most people say, the start is the hardest as we feature Strive Masiyiwa business management post entries, also detailing "How Elon Musk and Dangote started their business with borrowed money from their relatives

This is an interesting post entry to all business owners, entrepreneurs, managers, marketers, startups, and all business owners across the world to also Join Africa Choice here for 100% free


Interesting To Know
That Africa's Richest Man alive "Dangote) was once assisted by his Uncle with the finance (money) he needed to start what we all know today as the Dangote Group

Not just him alone. Elon Musk the world's richest man and founder of Tesla was also assisted by his mom with the money he needed to start what we all today know and enjoy as Tesla products and services.

Not stopping there, Strive Masiyiwa founder of Econet Global was also assisted by his mother several times with the money he needed to start his first business project and today has outgrown, also serves as an inspiration to thousands of Africa Entreprueres, including us Africa Choica

Strive Masiyiwa
has shared this fact on his Facebook profile post entry, in what he titled "Now let’s talk about “management”! __"Learn how to get stuff done..."*

Yes, it all began with a great idea. Maybe you and a couple of friends were chilling out when you became seriously animated about a problem, and before long you realized that you could solve it by setting up a business.

Over a few weeks and months, you developed a plan together. You needed #Start-up capital, and each one of you decided to approach relatives in the diaspora or at home who have great jobs; even your uncle sold some cattle and gave you some money... Yes, these are your first #Investors!

That is how it all begins. Elon Musk got money from his mum! Well, that is something we have in common. I Strive Masiyiwa founder of Econet Global borrowed from my mother a couple of times, too! during my early startups

So let's say after you have gotten help financially from your relative, then you have proceeded to register a company, and before long you were operating a business from someone’s garage, just like those Google founder guys did during their early days!!

Once you started to sell a #Product, the #CUSTOMERS loved it and were willing to pay you for it, be it your products or service. NOW YOU WERE IN BUSINESS and will grow faster should you get your business management right!

[Your #Product could be a #Service of some kind or could involve #Buying and Reselling as Sam Walton first did. Possibly it's an #Invention or a promising #Innovation, or you've launched an e-commerce site with many #Products on offer...]

Whatever it is, you launched your business, and customers troop in, #Demand quickly grew. You were selling more and more each day and week.

Then, you found yourself spending more and more time, not out selling and marketing... but rather trying to sort out payments, receipts, invoices, suppliers, and even workers. And none of your colleagues that you started with had any experience with this stuff. So there was confusion, and you were getting stressed every day.

You were hiring people all the time, and it now seemed that there was even more confusion, and meanwhile, #CUSTOMERS were complaining about poor service or product quality. There was shouting, screaming, tears, and even more stress!

Most small businesses that are initially quite successful and have a great #Product usually end up going belly up at this stage, leaving the founders confused and dejected. While others just never grow beyond a certain size, no matter what the founders try to do.

Do you know anyone in this type of rut?

I "Strive Masiyiwa" was always in this type of rut when I started. I used to call it “the curse of being small!” I knew I could be bigger but I didn’t know how, and the reasons I attributed to being small were usually all wrong, and often self-serving, or simply a pity party!

Having worked in large organizations before I started my business, I knew that how a business is organized plays a big part in how successfully it can #Scale. Unfortunately a lot of entrepreneurs in Africa, they never had an opportunity to study organizations from within and have no personal experience in management.

That shouldn’t be a problem for you, if first of all you recognize that “Management” is both a #SKILL and a #DISCIPLINE which the entrepreneur must ACQUIRE [I stress ACQUIRE, because it is not something you are born with. There is no such thing as a “born leader” unless you think you are Napoleon!]

Once I realized that I had to study MANAGEMENT, I went about it in much the same way as I studied engineering and economics in school and started studying Management

I went to look for books and tutorials. Remember, this was long before the days of the Internet and YouTube.

But still, I found books on HR, organizational management, IT systems, finance, accounting, supply chain management, staff motivation, and so on. I could have enrolled for an MBA and made life easier for myself, but my business required me to be on the move. One time I asked my wife for a list of her first-year MBA books!

I just thank God that I was able to learn quickly enough about what to do, and how to get to #People who could help me. Some I hired, and others came on as paid advisors or consultants, we even have some that came as volunteers

All the people who joined my first Board of Directors were chosen for their knowledge in different aspects of #Management! I was always focused on trying to find the best people at a particular thing... People who knew MORE than me, and could teach me. I generally either gave them shares or paid them handsomely for their time to act as my coach.

Now, where does #Management fit into the #3Ps or is it an addition? It is wholly captured in the #People and #Process, so we don’t need an “M” on its own.

Here Is What Management Means to Me

Last thing to remember: #Management is not supervision of other people. It is not the ability to order other people around to do things. It is not even "leadership" [a subject of particular study all on its own].

#Management is much, much more than that. And without it, you cannot #Grow and #Scale. Anyone can call him or herself a “CEO,” “President,” or “Managing Director"... Those are just titles. Management is Skill, Discipline, Listening, Vision, Practice... And more.

As former President Obama once advised young people considering various careers: "Just learn how to get stuff done!" You are not going anywhere building your business if you don’t consciously set about to ACQUIRE #Management skills.

What about you? Do you have #Management lessons you've learned over the years? Check out the Africa Choice Marketplace and Sign up here should you are yet to join this platform for 100% free