“There crux of business across the board is the ability to solve problems. And that’s what actually makes businesses successful.” – Mhlanganisi Madlongolwana.
He was speaking on POWER Business on Thursday during the POWER Solutions feature.
Madlongolwana adds that this is true for small and medium enterprises as well as for large corporations.
“At the centre of it [business] is the ability to solve problems for a crowd of people big enough to pay you money so that you can be sustainable and ultimately take something back home again…”
However, he warns that most entrepreneurs fall into the trap of seeking to solve all of their problems simultaneously.
“If you want to solve all of the problems, is that you’ll find yourself not being able to solve any of them in front of you.”
Decision-making also assists businesses – Madlongolwana.
He made a case study of CRM Enterprises.
CRM Enterprise CEO and business development manager Connie Matlejoane says despite her business problems “closing down was never an option or even a thought”.
She adds that she wanted to split her businesses into two entities: branding and business support.
However, she says, Madlongolwane advised her otherwise to merge.
“We had a look at Connie’s financials over the past two financial years and we did a breakdown of those finacials.”
The branding aspect of her business, Madlongolwane says, brought in 30% of an almost R1 million turnover over a small business.
“She was focusing on the entity that was draining the business.”
He says this is a common occurence across the board in business – warning that small players have a tendency of wanting to be jacks of all trades.