Know Your Business (KYB)

source
From KYC and we are now at KYB. The first take home here is this; success is very intentional. There is a big difference between failing and failure; one is a process while the other is a mindset. So yes, we can say the former is a means to an end. And one can also say because you’ve failed doesn't make you a failure but when you admit you're a failure, then failing becomes your norm. Be ready to address mental war every moment of your life.

Maybe I should delve a little into faith. While many may neglect it but the fact is; ‘faith is a business’. Our Lord Jesus said, ‘I am going around doing my father's business’. There is enough lesson to pick from here; there was a business he was diligently dispensing. So why was he ALL round powerful?; ‘knowledge’. He who comes to God must admit that He is and is a faithful rewarder of those that diligently seek him’.

This is the reason why some are working in the miraculous and others are still just sitting on the fence when it comes to Ministry. It still points back to knowledge; you can wake Jesus up in the middle of a storm and he rebukes the situation instantly.

source
I was having a conversation with a friend concerning the future of my newly found brand. What should I do and how can it correlate with my current co-founded business? His first advice was; ‘know your business ’. This evening he sent me a short business video where current Africa’s richest entrepreneur Mr. Aliko Dangote said exactly this; ‘know your business, this is The Secret to my success. If you wake me up in the middle of the night and ask me about fertilizer and can give you a full explanation’.

Business is not about ‘others are doing it and succeeding’ according to his business experience, one needs to give in the needed time for knowledge. I am not saying one should not leverage on the success of others to boost their adrenaline. Nevertheless, you should be much more personally intentional. His suggestion is not that far from Warren Buffett who said, ‘I invest in what I know’.

source
So how can one know his business? Before even getting further, we have to understand that we can do something for a very long time without still not knowing it in entirety. True profitability comes when you understand a business’s ins and outs. So if one were to ask me how to know his business, the most important thing is being ready to give in the needed time and effort to gain transformative knowledge.

This does not mean it has to be something you have been on for a very long time, NO. Even with your newly started business, how willing are you to go in terms of expanding your knowledge scope. Every business is successful when you are good at navigating its waters.

To conclude, let me add, I have picked something vital from this conversation and the shirt video too. There is a need to become better in my current business while also doing a lot of research on the newly found one. There is an all round success when putting everything together yet it boils down to: ‘how much do I know?’.

This is an article covered by dani-EL; a broad niche writer. I write on faith, life facts and daily living, business and economics, small scale and daily businessing, cryptocurrency and technology. And yes, I do cover articles on financial education and investment updates. And note, if I happen to be a financial adviser to you, the TOP financial advice should be ‘DYOR’ (Do Your Own Research), I can't afford to break your heart

Posted Using INLEO