Women in business have been tipped on the crucial business skills to enable them realize maximum output from their enterprises.
The tips were given at a meeting held on Friday at Protea Hotel in Kampala. Among the skills needed for success of a business, experts said are: self-evaluation to ascertain whether they are on the right track; learn and follow legal requirements; employ appropriate human resources; exploitation of digital platforms; value addition and marketing.
This was during the MTN masters class of business women in Kampala, which attracted a big number of female entrepreneurs.
Mustapha Mugisa, a governance expert at Summit Consulting, encouraged business women to be deliberate with the calibre of workers they employ.
“Employ the right people and avoid the incompetent ones because these will not give you quality, yet you spent time and put a lot of money in the business”, Mugisa said.
He said it is also important that roles are separated for each department for ease of accountability.
“Have a strategy, the right tools to run a business and that will way your business will fund itself. You will not have to put in a lot, “Mugisa stated. He cautioned women against investing in each and every business that they come across, saying it are a recipe for loss of capital. Mapula Bodibe, the MTN Chief Marketing Officer, advised women to exploit digital media to grow their businesses.
Lessons From the class
I have learnt that I need to get a lawyer to help me set up my business and take me through the legal terms and procedures.
I thought that setting up a business requires only capital, but today I have realized how much attention to pay to the human resource as well. Remember they are the ones running your business, so it is that important that you trust them, empower them so they feel part of the business, and in that way ,quality results will come your way.
I managed to get the tips on how to market a product. Most of the time we get in business without knowing our target audience and marketing of products becomes a challenge. Today, we have been told how to do it and to me that is important.
Many fear to take risks simply because they do not know the power of having their business insured.
Today, that was my take home and will surely preach to others.
I realized the importance of value addition to my product and the importance of content marketing. You come up with content about your product and you send it to your audience so that they are sure of what they are consuming.
Source: New vision Newspaper – 9th/03/2017