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Diaspora Matters

Diaspora Matters

Unique clients who open floodgates

Taffy

The art of selling is a complicated one—a lot of studies have been put into it over the past centuries but still there is some inexplicable stuff that defies science. For instance how do you explain that there are some random clients who when they buy from you, they open floodgates?

Of course we are not talking of influencers who are public figures with a lot of following who can be engaged as brand ambassadors. For instance Trevor Noah, Shasha, Beyonce, Jah Prayzer, Casper Nyovest, Eddy Kenzo and Diamond  Platinumz.

Dear forumite, we are talking about Gogo Mthembu in Motsulu, Nelspruit who buys fresh vegetables from a market and opens up floodgates for Mpho. She buys shoes from a boutique and again opens up the sales valves.

Janet buying chickens from Nomusa and after the sale, Nomusa goes on to sell all of her chickens!

Janet goes on to buy face masks from Tinotenda and Tino sells all of her stock in record time.

Researchers call such people mavens according to the book Outliers. Mavens just have the Midas Touch and in most cases they do not even know that whatever they touch moves.

In a discussion on the forum, we had forum members who witnessed this phenomenon. Sales moving Northwards after certain people have placed orders. We had plenty of case studies and these were ordinary mavens.

In another instance a former icecream man identified certain clients who when they buy, he was assured of a great day of sales. If they do not then a tough day of moving sales.

Yours truly observed this several times whenever he stopped icecream men, stood in front of shops for window shopping or entering an empty shop and within a few minutes more people following suit. Of course iam not inviting freebies from the forum lol

Identify mavens for your business

In 2017 we advertised a forum initiative (tapestry) in 6 countries at the same time. The adverts went viral in South Africa, Lesotho and Malawi sparking a scramble across SADC. Was it a fluke? We tested again in 2018 with a hat-making initiative and got similar results! So for the forum, we have identified these 3 countries as mavens that open floodgates to the region. It saves us time when launching new products.

When icecream men plan their suburb rounds, the experienced know which street to move first, which households open floodgates and they ensure maximum results this way.

Zimbabweans should be familiar with the hero Oliver Mtukudzi launching his albums in certain countries first before doing so in his home land. We hope it now makes sense!

What made your sales move so fast? Is it the time, location, season or certain clients? Document and analyse why sales move so fast. Repeat the process continuously till you get to the bottom of the story.

Why are sales low? Who bought or did not buy? Come up with incentives for mavens and assess progress.

There are also certain social media groups where you post and make the most sales. Have you captured this? It could be possible that you make the most sales when everyone else is struggling. Same advert design, same products and prices but someone making 5x sales than others.

How well do you know your clients? Do you capture their contact details? Do you regularly engage them? Have you identified the mavens? They can be clients, location, digital platforms or more.

Knowing them may make the difference between survival and closing shop.

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Diaspora Matters

Of VUCAH Skills and Ecocash Ban

Volatile

In finance we have a term called VUCAH meaning Volatile, Uncertain, Complex, Ambigous and Hostile environment. It is one of the toughest environments to operate in and clearly it’s difficult to seasoned skills and expertise with solid track records.

Most financial experts are trained to operate in stable environments. Predictable environments where you can plan for a period of year or more. Most corporate plans and budgets span for a period of a year or more.

Fresh from the devastating impacts of the Covid-19 which plunged the world into a recession, Zimbabweans got shock news of the suspension of the mobile money platform and the stock exchange—no better definition of VUCAH!

Did you see this coming? Had you factored VUCAH in your corporate strategies? It is an open secret we were all caught flat footed hence the outrage by the business sector.

What is the impact on business confidence and operations? This is a long analysis and will need an in-depth research which is evidence based. What is as clear as mud is this latest move will severely impact the business sector. Perhaps the bigger picture is this is a good move which will ultimately benefit the nation at large but only time will tell.

Developing VUCAH skills

Appreciation of Economic History: Unless you have studied Economics at college or other advanced finance subjects at college level, chances are high that you are thin on economic history knowledge. For instance an accountant is likely to study Principles of Economics and to some extend Macro-Economics at college and post grad level but this is not enough. How was the Rhodesian Economy structured? How did they deal with economic challenges? Post Independence how did we fare economically? How did we deal with economic challenges? What are the common trends? How have we dealt with VUCAH challenges in the past?

Political Economics: Our economy is intertwined with politics. What has been the link over the past 100 years? What are the lessons learnt? What keeps repeating ad infinitum?

Benchmarking: Apart from the appreciation of the internal environment, what are the lessons learnt from across the globe? What can we learn from countries that have travelled the similar path? Inflation in Germany or South America? How did other countries dollarize? Did they successfully return to local currencies? What measures did they put in place and are they comparable to local ones?

Financial Modelling: Now that you fully appreciate the historical perspective of Zimbabwe, what are the developing issues? In resolving them, what are the chances of plucking some strategies from history books? What are the scenarios for solving inflation and forex challenges? Book strategies and off the hook? It is not the first time to suspend the Stock Exchange, it is also not the first time to close banks. What are the signs that led to closures in the past decade? Did we notice similarities in the run up to the latest closures? How many corporate companies developed financial models so as to guard them against economic shocks?

VUCAH Skills are the missing link in Zimbabwe—missing at college level and also professional levels. Financial newspapers in the country concentrate more on historical analysis and do not use the past data for future analysis. What does it mean when small scale gold farmers are paid in local currency? What is the impact on gold deliveries and forex earned?

What is the impact of the Covid-19 on the local economy especially the business sector? Was there ever an analysis of mobile money especially the risks?

The Covid-19 pandemic was a once in a 100 years event and the world can be excused for being caught in six and sevens but some local shocks should not come as a surprise. Its almost impossible to eliminate risks but they can be reduced through forward planning and analysis.

Do you have VUCAH skills on the board? Were they spot on in predicting the latest move? Do your corporate strategies incorporate VUCAH too?

As leading financial analysts scramble to write lengthy articles analysing the implications of the latest policy move perhaps the public should be asking them where they were in the first place? The world is interested in the future….did you predict this latest move? If not-you need VUCAH skills too like the rest of the population. Your historical analysis not good enough!

After this latest move, what other shocks await us?

Food for thought

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Diaspora Matters

How to advertise on ZBIN Whatsapp Forums

zvomu

Our Zim forum now has 74,000 members and growing at a rate of 1000 new members per week.  In South Africa, our members are now 95,000. We have over 50 Whatsapp groups with some of them created more than 6 years ago. The forums facilitate market access, information access and networking.

Advertising on the forum is one key area our members are interested in with a lot of business being conducted on a daily basis.

Our guidelines for advertising on the forum are as follows;

  • Include all key details in your advert (Product, Price and Contact Number)
  • Keep your advert short as most people have a short attention span of less than 7 seconds
  • Adding images of products being sold including a logo is an added bonus
  • Have a Whatsapp business account with a catalogue of products for sale
  • Engage Graphic Designers to create a professional advert or try out on free graphic designing apps found on www.canva.com

Example of a great advert

Great Ad.png

Group Rules

  • No political messages, divisive topics, nud
  • es or porn
  • No scams or ponzi scheme adverts tolerated
  • No spamming (incessantly posting the same ad to the same group)
  • We encourage participation and networking on forums

In April 2020 we conducted a free Digital Marketing training that empowered more than 700 members. It was practical based and if you missed the training our book Digital Marketing for Zimbabweans is available in E-copy for US$1 each.

We encourage our members to constantly review their adverts and benchmark with best practice.

Some of our newest groups,

ZBIN Group Links

Norton

https://chat.whatsapp.com/BfaMrp5Icj7Hj6ozLmrmhl

Network Marketing
https://chat.whatsapp.com/F3jUC2aq2xCAqxURRLq7jY

Harare West
https://chat.whatsapp.com/BjN9jWKV3irGKILTixzdHQ

Masvingo
https://chat.whatsapp.com/HdbhdXhToqP4B7K8xqQ1HO

Bindura
https://chat.whatsapp.com/FnBbx2Rh38JLa0q49GMZak

Kadoma
https://chat.whatsapp.com/G05pc5PC8YNKl2YeJ45Zdf

Marondera

https://chat.whatsapp.com/HV9auNWmmmK8OV1kuQbMFU

Harare
https://chat.whatsapp.com/C0yYm6Gyps80xJKm3MTRIP

Mozambique

https://chat.whatsapp.com/IRiDR0l1XXyFzUY2yjlNkh

Exclusive Socials

https://chat.whatsapp.com/EJIJMdZIdQS2awn8k8Omy5

Groceries
https://chat.whatsapp.com/HDL9ELW9XiHFdJrb3p22z6

Farmers
https://chat.whatsapp.com/F4FvEMopFkI8YpH11zUadh

Chinhoi
https://chat.whatsapp.com/C6RKjT7yA5M5voxhKDuXK6

Financial Literacy
https://chat.whatsapp.com/IYLFmeSDALVKZ7MAgWSVMb

Eastlea

https://chat.whatsapp.com/KGwcwu2pc4jHcZ5jukI7Bd

Chiredzi

https://chat.whatsapp.com/BS91GEuuxdwDhNJ91PjXwW

Papaya
https://chat.whatsapp.com/DxQKpcnpvpCG70DZ5A8Oti

SA
https://chat.whatsapp.com/C8iYUKXelpc9xRBAWO49Lh

Mabvuku

https://chat.whatsapp.com/ErIeMaK9pM1KY42o741kaw

Trending Opportunities
https://chat.whatsapp.com/Kln1Tjtrf0H2irenMiQrrE

Harare North

https://chat.whatsapp.com/BfwdnETfIrZ1noDKm1kC6d

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Diaspora Matters

A nation that celebrates Liabilities Acquisition

liab

(ZBIN Financial Literacy series part 2)

The greatest fraud to ever take place on the continent was the non involvement of Africans in the development of the educational syllabi. So education was an off the shelf package delivered and Africans grabbed it with open arms without critiquing it.

When you went to college, did you have a lecture of why you were studying certain subjects, who had developed the syllabi and why? Did you cover the future relevancy of the syllabi?

Did you also cover the African educational system; the advantages and disadvantages?

So we didn’t ask critical questions and now we sometimes get excited of fancy financial terms and yet they have been in existence for thousands of years and our forefathers had perfected it.

Lets keep this post short,

Financial literacy is all about financial freedom. The focus is on acquisition of assets and minimising acquisition of liabilities. You do not put all of your eggs in one basket but spread your assets acquisition in different areas such as;

Real estate, Stocks,Entrepreneurship,Money market,And others,

One shock affecting any sector will not mean you immediately going belly up.

What is an asset: Anything that creates value or add money into your pocket.

Liabilities: Anything that takes money away from your pocket.

Controversies;

The home that you live in is classified as an asset in accounting terms but because it does not bring income, it is not an asset! Is it? One can argue that your primary residence saves you rental costs but the big picture is on acquiring more properties and earn rental income and capital gain!

Is your car an asset or a liability? If it is a truck and you can hire it out, if It is registered on ZBIN Ride or registered with a car rental firm, then its surely an asset. But if not then your car is a liability as it siphons money from your pocket through fuel and operating costs. Throw in sentimental issues and you can have a debate that lasts for weeks.

Is your rural home an asset? If you can use it for farming then why not? Of course in accounting, we do not put much value in this land.

The National Problem:

The economy was structured to encourage liability spending by the majority. Many compete in buying cars (check the value of Ex Jap cars imported over the last 2 decades). Our nation spends more money on imports and most of our problems can be traced to this single cancerous disease.

So are we oblivious to these facts? We surely know but if some are selfishly benefiting from imports, who can stop them? Can we add corruption to the list of liabilities? Yes we surely can….

Liability Acquisition Culture:

We celebrate and honour liability acquisition….At church those with the biggest liabilities get the top posts. Even during courtship, those with more liabilities come first. Some job promotions are based on liability acquisition grounds. In politics, those who cannot showcase their liabilities will get the least votes. Every facet of life in Zimbabwe is anchored on liabilities-even at family level, Mr and Mrs Liability maketh all the decisions.

Its now a sea full of liabilities and it is coming at a huge opportunity cost. Our forefathers and mothers had developed a strong educational system anchored on Ubuntu Values and clearly it was biased towards assets acquisition. We were less corrupt too….

Now the question is how do you survive in a liability acquisition culture when you possess an assets acquisition mindset? You need to be strong as you will experience ridicule from every quarter.  Are you willing to build a resilient and sustainable business model? Then hang around the few people with the same mindset ….

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Diaspora Matters

Business Opportunities for South Africans Book

mhy

It has been a long process in compiling our 4th book on business opportunities. The field of writing about opportunities is not an easy one as there are no peer books or research material to rely upon. You have to straddle uncharted territory and create history.

We are proud to have completed our first RSA book on business opportunities which we are launching next month.

We have attached for your attention our table of contents of the book which becomes our 3rd one for 2020 after a similar book for Zimbabweans and a Digital Marketing one.

SA-Book-Table-of-Contents-converted

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Diaspora Matters

The Concept of ladder steps and over flooded markets

bnm

A friend inboxed me complaining about her sector becoming over flooded by competitors. She was greatly worried as competitors were taking a large slice of the cheese from the sector she was a pioneer.

Let’s get this correct…in Zimbabwe opportunities generally last for 3 months before most  reverse engineer and figure out your secret recipe. Where are you sourcing products? How are you selling? How is your business model structured?

You can hardly  enjoy a  monopoly especially for new opportunities beyond 3 months….its’ the way it is and you should always factor this in your business strategies.

So what strategies can she employ to keep her head above the water in a pool recently joined by sharks?

In come the ladder steps concept,

Level one: A good friend of mine started baking fancy cakes around 2009 and she became a hit around the capital. She literally had a monopoly of home baked cakes but with time competitors entered the scene for their own share

Level two: Instead of complaining about being copied, she maintained her market in a fast shrinking sector but later on innovated and moved up the ladder to conducting training for ladies interested in baking. She offered well attended training classes for several months before realising that some of her trainees were becoming rivals who were setting up own training institutes. It did not take much time before the market was flooded.

Level three: If other students copy you at school, the easy strategy is to ride solo-study alone, be selfish with knowledge and let your hard work and intelligence reflect in end of year exams. You can report to examiners anyone employing unethical conduct during exams! In business, especially in Zimbabwe, for small businesses-you have no avenue for reporting. Your solution is innovation and moving up the ladder.

She stepped up the ladder and maintained her cake business and training plus added a new portfolio of supplying baking supplies such as flour, recipes and equipment. She developed solid relationships with suppliers in South Africa and for a while enjoyed her time in the sunshine. By now you should have figured out that competitors soon flooded the sector too?

Level four: Yes the competitors followed her footsteps in level  3 prompting her to innovate too and climb another step of starting another industry in Namibia where once in a while she was invited for special training classes and also supplying inputs.

Through innovation and moving up the steps, she increased her profits despite the opening of floodgates. She looked at the bigger picture of the value chain and explored untapped opportunities.

Instead of complaining about dwindling profit margins due to new competitors stampeding to join her sector, she welcomed them with open arms and viewed them as partners.

Now this concept is used to manage competitors but guess what?

You can also employ it when investing in any venture of your choice. Invest in level 1 or enter at level 2 with the intention of moving to level 3 and above. Rear broiler chickens or produce poultry feed?

Carry out online trainings or develop online training infrastructure?

This should be a familiar concept if you read our debut book in 2018. Our books cover opportunities and entrepreneurship concepts.

We welcome your feedback

Kea leboga

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Diaspora Matters

BIG News from South Africa

bigmi

For long Zimbos have been known as some of the best employees across the globe. Hardworking, loyal and ethical, we have filled top posts across many industries in the world!

Our solid educational system ensured that we produced top quality graduates for the industry over the years.

The pioneers

However there is one area we have been found wanting and it is entrepreneurship on foreign soil. There are not many or there could be  no listed business entity formed by Zimbabweans based abroad.

What worsens the situation is the individualistic nature of Zimbabweans. Zimbabweans on foreign lands prefer riding it solo and perhaps justifiably so as experiences abound of Zimbos who biteth the hand that feedeth.

There are so many scammers, plenty have been burnt whenever they tried to work together on business or even social ventures.

The worst enemy for a Zimbo on foreign land has therefore become a fellow Zimbabwean!

However we have good news for the forum as we have some members who have decided to challenge the strongly held notion of Zimbabweans not  working in harmony.

They have formally registered in South Africa a company named BIG ( Big Ideas Galore). This is a huge milestone for the country as we witness a second generation of Zimbabweans who venture into serious entrepreneurship projects across Limpopo.

Proudly Zimbabwean

An investment firm, they will operate through a crowdfunding model harnessing resources from like minded Zimbos in South Africa. They mean business-serious business….

Of course it’s a long winding road but through perseverance, they will conquer. Expect more updates from our members as they undertake the entrepreneurship journey which will ultimately result in the first JSE listed Diaspora business.

We wish them the very best.

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Diaspora Matters

Creating Solid Relationships with Your Suppliers

supplier

We feel we have made enough noise about building strong relationships in business on the forum. All of our recent books have been anchored on opportunities plus solid relations.

Regai timboti dedemu nerurimi rwamai;

Business kuwirirana nevamwe zvakanyanya kuti ugadzire  uye kuchengetedza upfumi.

Wirirano –wirirano-wirirano-wirirano!

Business mubatira pamwe chuma chemuzukuru,

Business mukomberanwa,

Business harisi zano ndoga-unosiya jira mumasese!

We have done enough justice about client’s service. Who still remembers Customer Experience? Who has applied what we covered?

Of course recently we had the controversial topic of pricing….that will always be controversial but we believe you picked 1 or 2 tricks.

This evening we look at another critical stakeholder you need to be in very good books with;-your suppliers.

How do you develop strong relationships with your suppliers?

  1. Honouring promises. If you get goods on credit and are supposed to pay by x date, then do so without being reminded
  2. Being consistent…develop a strong credit record
  3. Constant communication and resolving issues before they become big
  4. Through review of your financial statements ( purchases and creditors)
  5. Ethical conduct

What are the advantages of solid relationships with suppliers?

  • Credit facilities- we can call it credit capital. Ability to sell goods and paying later
  • Discounts-regular and loyal clients are more likely to get discounts than others
  • New offers-Suppliers are likely to select regular and loyal clients first for new products or initiatives

There are tonnes of other benefits and you can add. In this hyperinflationary period-constant communication with suppliers is likely to keep you informed of price hikes or anticipated changes in the supply chain. This can be to your advantage if you get the information earlier than others.

How good are you with relationships? Are you aware of the benefits of acing your soft skills? Do you ever review your relationship skills with all stakehodlders? Do you have a solid plan to improve your skills? When last did you attend training or read books on soft skills?

Do not just read this article but pause, reflect and then take corrective action!

Business=vanhu, vanhu=business (provided you ace and practice advanced soft skills)

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Diaspora Matters

Growth of Digital Opportunities

booku

When it comes to future opportunities, for Zimbabweans the first name that comes to mind is the Billionaire Dr Strive Masiyiwa. He is the only officially recognised Zimbo although there could be more underground billionaires.

If we are to go with official records, what is it that enabled Masiyiwa to be on top of the totem pole?

  1. He embraced digital opportunities
  2. He was fortunate to be in the engineering field and appreciating engineering trends
  3. He knew the cascading of digital technology-developed world first and Africa last
  4. He knew technology adoption in Africa is slow as the continent is a laggard
  5. He was globally minded and saw opportunities beyond Zimbabwe

Latest stats do show that Mark Zuckerberg now has a worth of US$85 billion making the 36 year old the fourth richest person on earth-up from number 7. His net worth has been spurred by the lockdown which catapulted the use of social media.

Amazon CEO Jeff Bezos is the second largest gainer with his Amazon stock up 29% since Marc 23 with a net worth of US$146,9 billion.

We do not need to dig deeper, the trend is crystal clear….the future is digital. Those who are strategically placing themselves with tech opportunities will advance at the expense of those still stuck in the old business models.

The next billionaire to join Strive Masiyiwa in the billionaire’s club is obviously a tech-savvy person. It is unfortunate that The Fourth Industrialisation is not a buzz word in Zimbabwe. This shows that once more, Zimbabweans will be the last to grab the 4IR Opportunities like they did with 3IR Opportunities. South African company executives had been making a beeline to India before the lockdown. Companies there appreciated its importance and the benefits to accrue from it but our country’s top executives remain glued in the past.

Tech Opportunities Strategic Positioning

  1. Appreciate latest trends across the globe
  2. In Africa the first countries chosen for tech opportunities are usually South Africa, Nigeria, Kenya and Egypt. Rwanda joins the list too.
  3. Read Engineering and ICT Journals
  4. Follow Strive Masiyiwa on social media
  5. Cultivate a keen interest in everything tech

Masiyiwa is good at future envisioning-he sees opportunities 25 years away! How far do you think about the future? Do you have the patience to discuss about this with others? How many tv shows, newspaper articles or radio shows talk about the future 10-20 years from now?

The good news is we will be creating a Whatsapp group with a focus to future tech opportunities. Do watch out for details.

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