In my previous article I told us that the inability of business founders to raise leaders who will take over their office when they are no more is one among the numerous reasons why businesses owned by Africans hardly survive after its first generation is gone. However, this is not just a problem of Africa alone but a challenge facing the global community.
In a discussion Manny A., the Lean Manager at Coty Manufacturing (Ashford) had with an Asian man, the Asian said the problem with Africans is that they love meat too much. Isn’t that funny? He said; “you love to kill the cow and eat every part of it but in India, instead of killing the cow we look after it and enjoy the milk.”
The problem with some first generation business owners in Africa is that they spend so much time amassing wealth for their offspring without spending ample time to teach them how the business is ran only for them to grow up and sell off the investments.
Getting Involved in a Wrong Choice of Business That Has No Futuristic VALUE
Yea, that’s it! Whether a business will survive or not is dependent on the kind of value exchanged in running the business. Value-based businesses are known to attract Customers’ interest without any sentiment of whether the founder is dead or alive.
Some of these businesses some Africans get involved in are stuffs the future generation will be ashame to identify with. One of the ways you can know if what you are doing today can survive after you are gone is to see into the business in the next 20 or 30 years to come. Will the Technology and lifestyle then still accomodate your kind of business? Will any form of innovation help you earn better income? If your answer is yes! Then you’re already in the right frame of business.