Micro-Management and why it hurts your business

18 September, 2019 / Blogs

Youth unemployment remains Kenya’s biggest socio-economic challenge. So enormous it is that it shakes the core of the country’s dominance as an economic powerhouse. Statistics put it that one in every six young Kenyans is unemployed. In neighboring Tanzania and Uganda, the rate stands at one in every twenty on average. Ask any Kenyan youth about their occupation and they would respond that they are either gainfully employed (in a job), or self-employed (taken to mean ‘business own ers’). Often, they venture into self-employment for lack of employment opportunities. They undertake business with neither the requisite skills nor passion for it. Nonetheless, are those who are self-employed truly in entrepreneurship? Is there a line between self-employment and entrepreneurship? It has to be remembered that entrepreneurship is a philosophy of sorts, a lifestyle. An entrepreneur would identify a challenge and consequently task himself to provide a solution. His main motivation is to fulfill a human need and alleviate a pain point. Despite the challenges they encounter, they keep on trudging on the path to their objective. Take for instance, Thomas Edison, who invented the light bulb. Approximately 999 times, he failed but never gave up. He said that each time he failed, he discovered one extra way of how not to do it. His consistency paid off at last. Additionally, let us examine Jeff Bezos, who for some days beat Bill Gates to be Forbes’ Richest Man alive. When he started Amazon, his dream was to provide a link between producers and consumers, and build the world’s largest online retailer! The business took six years of opera . Thomas Edison, who invented the light bulb. Approximately 999 times, he failed but never gave up. He said that each time he failed, he discovered one extra way of how not to do it. His consistency paid off at last. Additionally, let us examine Jeff Bezos, who for some days beat Bill Gates to be Forbes’ Richest Man alive. When he started Amazon, his dream was to provide a link between producers and consumers, and build the world’s largest online retailer! The business took six years of operation to break even. Facebook, the world’s largest social media platform, took five years before it reported a profit. Alibaba took eight years, while Tesla, the world acclaimed innovative automobile manufacturer, is yet to be profitable to date! Coming closer home, Parapet, the region’s leading cleaning company, took three to four years to stabilize and post profits.

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