A ZBIN member based in Maputo has a poultry project where he keeps more than 20,000 chickens. He is urgently looking for 2 people to employ on his poultry project. He needs someone to work in the abattoir and another one who can feed chickens.
Experience in the Poultry Industry a must and remuneration will depend on qualifications and experience. You must be ready to start work in January 2016.
If interested WhatsApp Munemo on 0774081808 (No phone calls please)
The article below from Newsday is quite sad, a man lost close to $20k in a botched real estate deal. If you remember our article on Real Estate Fraud which we covered here last month, then you should be able to avoid such scams.
Lets analyse the following facts from the article;
Now dear reader, tis adverts had too many red flags. If you read our first post on real estate then you should remember what I said about INFILL STANDS. Ma infill stands haatengwe nekuti all of them are fake! I also mentioned that avoid buying residential stands from Individuals as individuals have proven to be high risk in the Real Estate industry, rather buy from established real estate agents or financial institutions with a reputation to protect. I remember saying that there is no one who has ever been conned money by financial institutions such as CABS, Old Mutual, FBC and Fidelity.
Out of Town Deals: If you are buying a car, buying a residential stand or any deal where you initially meet in your area but later on encouraged to finalise the deal and payment out of town then do one thing-Run with your money, cancel the deal because its FAKE! The fraudsters do not want you to possibly bring knowledgeable people to the conclusion of the deal. A friend of mine who wants bough a fake stand had to travel to Bulawayo where the deal was concluded! When OUT OF TOWN crops up then immediately cancel the deal or risk becoming a statistic like what happened in the article below.
Residential Stands and Lawyers: Do not conclude the purchase of real estate on your own as if you are buying a vehicle. Get legal help by engaging registered lawyers, we also have dubious lawyers around so make sure that they are registered. Doing such deals on your own will result in you being at the mercy of con artists.
So there you are readers, share this article with friends and relatives so that they cannot be victims like Philemon below.
Godfrey Chadzima was remanded in custody to today for bail application by Harare magistrate Vongai Muchuchuti-Guwuriro.
Allegations are that sometime in June, Chadzima while acting in cahoots with other suspects, who are still at large, inserted an advertisement in the Herald newspaper to the effect they were selling property at number 700 Tynwald, Harare.
The complainant Tapiwa Philemon inquired from Chadzima using his contact number which accompanied the advertisement.
The State alleges Chadzima posed as Simbarashe Muzorewa who directed him to the said stand for viewing purposes and told Philemon that the property belonged to his mother Patricia Muzorewa.
After viewing the stand, Philemon decided to buy the property and negotiated a purchase price with Chadzima over the phone.
The two agreed on an $18 000 figure and Philemon was to pay a cash deposit of $10 000 and later transfer the balance of $8 000 into Chadzima’s Steward Bank account.
The State alleges Philemon later met Chadzima in Rusape, who was in the company of his purported mother Patricia Muzorewa, and paid the $10 000.
He later deposited $8 500 into Chadzima’s bank account and an agreement of sale was made using a fake deed of transfer in the name of Patricia Muzorewa and a fake national identification card.
On December 16 Philemon visited the stand with a view to start some developments and discovered that the stand belonged to another person whose name was used by Chadzima.
Philemon was prejudiced a total amount of $18 000 and nothing was recovered.
Sebastian Mutizirwa appeared for the State.
ZBIN Continues to cover Diaspora Strategies and to date we have given you the importance of this important sector. We have covered the benefits that can accrue to a country that implements a successful Diaspora Strategy. Below we look at Diaspora Networks
Some diasporas are vast and global. For example, there are an estimated 70 million in the Irish diaspora, 25 million non-resident Indians and 60 million overseas Chinese, including significant numbers in nearly all countries. They create a web of cross-border connections.39 Some countries have cast the net wide in terms of engaging diaspora members and have developed global diaspora networks. The global networks may be just country-specific or they may be specialized global networks for particular professions in the diaspora. As noted by Ancien, Boyle and Kitchin, ‘Global knowledge networks are transnational networks linking global regions with the homeland, including trade missions, business forums, philanthropy, mentoring, advice and access to decision makers.’
Kutznetsov has set out several important points to consider when establishing global diaspora networks:
1. It is essential that there is a formal framework in place to maintain relationships and make sure that ideas are followed through.
2.However, if you formalise a network too much, you can kill it off. That has also been a common mistake of many developing countries – they try to put together a program that is very formal and it kills all the spirit of entrepreneurship and intrinsic motivation. People will only get involved in a network like this if they want to, not because someone tells them to.
Organizations should avoid launching a network in a blaze of publicity with a big conference before it has been tried and produced some successes. Rather, a conference should be a way of celebrating credibility through showcasing proven successes.
3. Furthermore, he suggests that successful diaspora networks combine the following three main features:
Networks bring together people with strong intrinsic motivation.
Members play both direct roles (implementing projects in the home country) and indirect roles (serving as bridges and antennae for the development of projects in the home country).
Successful initiatives move from discussions on how to get involved with the home country to transactions (tangible outcomes).
Examples of leading global networks include Advance Australia, GlobalScots, ChileGlobal, The Ireland Funds and KEA New Zealand. For further information on these networks please see the section entitled ‘Learn from others: Diaspora organizations share their stories.’ Other examples of global diaspora networks include: NLBorrels which is a global network of Dutch expatriate professionals and entrepreneurs, dedicated to facilitating social interaction, career advancement and exchange of information of interest to the Dutch community living abroad. It currently has 5,500 members in the US and an additional 6,500 members in 81 countries worldwide;43 International Council of Russian Compatriots (ICRC) was founded at the end of 2002 and its main aim is to consolidate the Russian diaspora and to attract the intellectual, economic and financial resources of Russian compatriots who are living abroad;44 Organization of the Swiss Abroad (OSA) represents Swiss expatriates’ interests in Switzerland and is supported by 750 Swiss expatriate associations and Swiss institutions all over the world.
Every year, several hundred Swiss living all over the world meet at the OSA’s Congress of the Swiss Abroad; and Nigerians in the Diaspora Organisation (NIDO) which is a non-profit organization with its current focus is on professional networking, social advocacy, education, healthcare, technological and economic empowerment, as well as skills and cultural exchange projects in Canada and Nigeria. NIDO is recognized by the Nigerian government as the umbrella organization for all Nigerians around the world and as the vanguard of Nigeria in the international community, promoting the country’s image abroad. NIDO also assists in promoting Nigeria as an investment destination in Africa.
Regional diaspora networks Given the amount of resources and time needed to establish a successful global diaspora network, some organizations have decided to focus on connecting with diaspora members in particular regions.
The benefit of regional diaspora networks is that they allow for a more personalized and focused engagement with diaspora members within a smaller geographical framework. Regional diaspora networks can also act as a catalyst to creating global diaspora networks by building on the success of the regional network. The ‘Ireland Reaching Out Project’ (www.irelandxo.org) is an example of how local areas can develop their own targeted diaspora initiatives and is based on a simple idea – instead of waiting for people of Irish descent to come to Ireland to trace their roots, local Irish regions go the other way. At town land, village and parish level, local Irish communities identify who left their neighborhoods and trace them and their descendants worldwide and engage with them and invite them to become part of an extended ‘virtual community’ with their place of ancestral origin. Part of this program is an annual ‘Week of Welcomes’ which is held in each parish or community in which these newly identified people are invited to return.
Over time the objective of this program, which was founded by returned Irish emigrant, Mike Feerick in 2011, is to systematically identify and unify members of the diaspora, based on their ancestral origins and engage them in terms of them being advisors, investors and promoters of Irish products. Other examples of regional diaspora networks include: BayBrazil which fosters communication and entrepreneurship among professionals in the San Francisco Bay area who work with or wish to develop connections with Brazil; The Lansdowne Club in Sydney, Australia which has over 2,000 members made up of business professionals who are Irish and living in Australia and Australians who have business interests in Ireland. It is now a vibrant and active business network which has spread to other cities in Australia and New Zealand and runs a series of events annually with their St. Patrick’s Day lunch now the largest of its kind in the world and is attended by the Prime Minister of Australia and other leading political and business leaders; Uhollanzi Kenya Association which is the only registered Kenyan diaspora association in the Netherlands. Its goals are to support and promote the welfare of Kenyans in the Netherlands in collaboration with local authorities and partners as well as to enhance Kenyan migrants’ capacity to meaningfully give back to their country of origin; and United Haitians in the United Kingdom network is made up of a group of Haitians, Haitian descendants, and friends of Haiti, living in the United Kingdom. Its main goal is to make a positive contribution in the development of Haiti and to keep the Haitian culture alive in the United Kingdom. They financially support worthwhile non-governmental and sustainable educational projects throughout Haiti with an emphasis on children’s school fees, uniforms and supplies.
City diaspora networks
A number of organizations around the world are now focusing on connecting with their diaspora members and, moreover, affinity diaspora members by launching city diaspora networks. Indeed, the affinity diaspora is an important segment of the diaspora to engage in building such networks, as so many people move to cities to work or study for certain periods or take repeated city breaks. Take the United States, for example, while many people have an affinity to the country as a result of spending time there, typically, it is with a particular city that people identity as their place of affinity. New Orleans is a great example of this and the power of the affinity diaspora network in connecting with the city. These ‘affinity diaspora’ are people, for whom, as the song goes ‘know what it means to miss New Orleans’ and return to the city for one season, reason or another and ‘let the good times roll.’ The other New Orleans diaspora refers to the population evacuated or forced to flee from New Orleans, Louisiana, by the effects of Hurricane Katrina in the late summer of 2005. Drawing from these two different diasporas (a displaced one within its own country and a large affinity diaspora)
New Orleans is an interesting case study on attracting and engaging diaspora populations. Famous playwright, Tennessee Williams himself could be considered an affinity diaspora member of New Orleans, (Mississippi born, Missouri raised and later lifetime traveler) he considered New Orleans his ‘spiritual home’ and was a resident of the city many times throughout his life. It is here that he is honored by an annual literary festival which brings Williams and literary fans from around the country and world to celebrate. These same ‘friends’ of the city and festival were much of the affinity diaspora who have contributed to a continued festival and its subsequent successes (particularly after 2005). The cultural branding of New Orleans has been responsible in no small part for the success of its rebuilding. Programs geared at drawing the affinity diaspora into the city (whether in support for events or to invest) have been invaluable during the five years of rebuilding and reshaping the city. The New Orleans Football team (The Saints) also provide a diaspora meeting point and especially at games in Atlanta and Houston (where many New Orleaneans resettled) have become a time of both cheering the team but also the city itself. Specific festivals such as Essence, Decadence, VooDoo, French Quarter and the New Orleans Jazz and Heritage Festivals (to name a few) all annually re-engage the affinity diasporas’ interest and economy. Furthermore, people are often extremely proud of the particular area that they are from within a country, and city diaspora networks allow them to connect directly with that area. An example of such a network is the ‘Friends of Belfast City’ network. This is an initiative, started in 1998, which promotes partnerships between Belfast and North America, primarily in the areas of business and investment. With almost 600 members from the areas of business, law, academia and government, including individuals from organizations such as Liberty Mutual Insurance, Lehman Brothers, McKinsey & Company, Harvard University and Columbia University, the Friends of Belfast network offers a range of contacts for Belfast organizations working in the US and Canada.
Women and diaspora networks
Female migrants represent a significant portion of total migration, making up 49 per cent of the total in 2010.47 As a result, women’s diaspora networks are increasingly being created as a way of uniting women from the homeland with other women from the diaspora. ‘All over the world there is an important and wide-spread presence of migrant women’s networks … These networks are very active in supporting women, in promoting their needs, their rights, and in simply bringing women together. These are more formal and institutionalised types of networks.’
An example of a women’s diaspora network is the Turkish Women’s International Network which is a global networking platform for women with family, cultural or professional ties to Turkey. The vision of the network is to build a global community of professional Turkish women to cross-pollinate ideas, inspiration and connections; start a mentorship program to mentor younger Turkish women in university programs across the globe; and launch the Turkish WIN ‘Angels and Advisors’ program to connect entrepreneurs to a capital and advice network. The founder of TurkishWIN,
Melek Pulatkonak, states that the motivation for establishing the network was because, ‘As a professional Turkish woman living abroad, I feel the need to connect to a platform where I can network, celebrate the successes of trailblazers, learn from experts in their fields and tap into the power of a large trust network within my community. I know many strong, successful and amazing Turkish women. I am confident there are hundreds or thousands whom I do not know. As an entrepreneur, I decided to do something about it and launched TurkishWIN.’ Examples of women’s diaspora networks include Swedish Women’s Educational Association, Indus Women Leaders, Diaspora African Women’s Network (DAWN) and the Filipina Women’s Network (FWN).
Next generation diaspora networks Countries and diaspora organizations are increasingly realising how important it is to attract the next generation of disapora leadership. Furthermore, younger members of the diaspora are leveraging networks with their diasporic peers as a way of building professional contacts. As a result,next generation diaspora networks are gaining increasing prominence. Examples of next generation diaspora networks include NEPOMAK (World Organization for Young Overseas Cypriots), The Ireland Funds Global Young Leaders Program and the Young Barbadian Professionals Society (YBPS). Members of the Young Barbadian Professionals Society were either born in Barbados or have Barbadian ancestry. YBPS is comprised of a group of individuals with diverse professional and social interests. Its identity is not only based on the professions and education of its members but is deeply rooted in their respect and love for the Barbadian and Caribbean heritage. The YBPS mission is to garner the intellectual capital of its members to further advance positive transformations in the global Barbadian and Caribbean communities, through the society’s economic development, education, and philanthropic programs.
Alumni diaspora networks
The business of international education, or export education as it is referred to in technical economic parlance, represents a major opportunity for countries to develop a network of affinity scholarly/alumni networks. Demand for education beyond boundaries has increased by 40 per cent over the past decade and is forecast to reach 6 million by 2020.49 In 1995, 90,000 US students went to college overseas; in 2007, 250,000 US students went to college overseas.50 In 2008, there were 300,000 international students in UK universities, paying more than £3.6 billion in fees. Britain attracts more students from abroad than any country outside the US.51 The US State Alumni is an example of a diaspora network seeking to engage international students who pursued studies in the US. Furthermore, scholarly networks are being established by diaspora members from the same home country who are studying abroad. These are important networks for countries to consider developing, as increasing numbers of graduates are emigrating. Through these networks graduates can still engage with the university and indeed the home country. Take for example, the alumni of the Indian Institute of Technology which is a group of 15 autonomous engineering and technology oriented institutes of higher education, established and declared as Institutes of National Importance by the Parliament of India. According to a recent study, the alumni of the seven Indian Institutes of Technology (IITs), now in senior positions in industry and government across the world, have a total budgetary responsibility of $885 billion.
Credit: Diaspora Toolkit
As you stated above, there are more networks on Diaspora Associations, we hope to cover more. We will also review the existing Zimbo networks, key strengths and weaknesses and the way forward.
So the Diaspora Remittance market is worth a billion dollars per year? Big guys in the market include Western Union, Mukuru and a host of other players, Econet is a recent entry into the lucrative market.
Now to our question: Is there room for more entrants in the field of money transfers? The answer from ZBIN is YES there is room for more entrance in the sector-one needs to look at the concept of Peer to Peer Money Transfers. A better option that reduces transfer costs drastically. So how does Peer to Peer P2P work?
Answer
Some call it the “peer to peer marketplace”, others prefer the rather neat phrase “collaborative consumption”. However you define it, it’s slowly but surely reinventing the way we live today. One of the best known is Airbnb and its rivals, which let you rent out rooms in your home to travellers, cutting hotels out of the equation. And then there’s WhipCar, a peer-to-peer network where you …can let others hire your car. The major advantage of this business model is that it tends to be cheaper than the traditional alternatives. And when it comes to financial services, the savings can be frankly massive. So how are companies managing to apply peer-to-peer thinking to money transfer and currency exchange?
First of all, it’s useful to consider how things are traditionally done. Let’s say you live in the UK and want to send a cash gift of £300 to your mum, who’s retired to Spain. The obvious way to do it is through your bank, who’ll charge a transaction fee and also hit you with an exchange rate that’s been skewed to give them a greater profit. Let’s say the total charge comes to 5% of the amount you’re sending. It’s all part and parcel of a system which sees your pounds actually leaving your account and being shunted to an account in Spain, where it’s converted to euros. Hence the expense of it all.
The way to slash costs is to minimise the amount of actual movement. Keep the various currencies in their own country, and bank fees almost vanish. So let’s return to the example of your mum, impatiently awaiting that £300 you promised, and do it through a peer-to-peer company like TransferWise.
Instead of instructing your bank to send the cash to Spain, you send it to their UK-based account instead, which means the money stays in one country. Meanwhile, they send the corresponding amount of euros from their eurozone bank account to your mum’s in Spain. In other words, your pounds haven’t literally been converted to euros, making the whole process up to 85% cheaper for you.
So where have the euros come from? Well that’s the peer-to-peer, or collaborative, aspect of all of this. They were paid in by a user in the eurozone who was looking to convert their euros to pounds – that’s the cash your mum receives. It’s all done swiftly and automatically, minimising fuss on your part, and meaning you don’t have to worry about trusting people you don’t know (which has been an occasional criticism of the collaborative model).
It’s swift, simple and so much cheaper than banks and currency brokers that it may well change how you send money, forever.
We are therefore encouraging our members to do more research on the area especially the setting up and registrations of P2P Money Transfer Service Companies. More information on this topic to be shared in our online newsletter.
So we have covered Kids Business, we also brought you information on Online Forex Trading-how to join our group. We covered Diaspora Investment matters as well. What remains outstanding is the interviews with 2 sisters on the forum-one based in Germany and another one in Kenya. We are hoping to finalise them and share their stories next weekend.
Important Changes
We are slowly building a team that will manage the group. Iam proud that some of the best brains from the ZBIN Community will be providing leadership to the group as trustees, registration of the group is at an advanced stage, Ms Tariro Kutadza will be leading the registration process. We will follow the OECD Principles of Corporate Governance and in the leadership position allocation and operations of the group. The good thing about our group is that we have been in existence for a long period of time; we have a strong and active membership and have representation in Zimbabwe and the Diaspora.
The following members will be part of the board:
We believe that we have a strong team in place that is made up of locals and diasporans; it is also gender sensitive with 60% female board representation. We have a diverse team with different professional backgrounds. We have included the youth with Ms Nyasha Gono representing the young voice on the board. World Award winner in the HIV and Aids field, Ms Martha Tholanah will lead the board of trustees. Mr Polite Ndlovu from Plumtree will be our interim CEO. We will give you more updates once we have finalised our registration.
Spokesperson for the Group
Ms Tariro Kutadza is going to be our interim spokesperson for group and will be developing materials to market the group; she will manage our twitter account, Youtube media, newspaper articles and our website. Do expect Munemo to slowly handover to Ms Kutadza in the coming few weeks.
Mozambique Trip
A lot of members have been inquiring about the next Mozambique trip and the answer is that its still on. After the Tete trip, the next one is to Beira or Chimoio-we are not looking for many members to join since this is our first tour to this place. We will update you in the coming weeks.
Diaspora Reception
Thank you to everyone who registered and special mention goes to Loveness from USA who donated funds for hosting this event. Its on this week in Queensdale, Harare and we are looking forward to a fruitful event.
ZBIN Wishes you
So this holiday I have all my kids at home, they have done well academically especially my first born who came top in five out of eight subjects, unbelievable stuff from my first born who is at a top high school in town where competition to get form one places was stiff with every kid required to have four points. We have a trophy and certificates to show for the academic prowess. I also have my second born who quickly adjusted to the new school we transferred her to; she came top in a surprise Maths subject, all along I had known her as a writer, a better writer than me because she produced a novel when she was in grade 5. I only started writing when I was in form 3 writing articles for publishing to the Sunday Mail Magazine and also editing the school unofficial tabloid. My third kid also surprised me with a top notch performance at the HICC where she was leading a school dance. This one is also promising to be a poet!
So here iam with brilliant kids and am wondering what they will be doing this holiday, we cannot afford to visit this holiday-money too tight to mention and worries of school fees next year are obvious. Now being business minded iam tinkering with the idea of developing their business skills at a young age. How about 2 or 3 projects where they will all put their efforts together and produce a business plan and implement it?
My story as a kid
I must say I was born an entrepreneur, being an innovative youngster together with my friends we never ran out of money. I remember with my friend Robert selling tomatoes and onions, we sometimes ventured into selling sweets. Our biggest and most successful project was going to the Warren Park Dumpsite where we picked some new small bandages. We sold the bandages in all schools in Warren Park and beyond-the project went viral. Looking at it back I get uncomfortable that we were involved in an unethical business project. The discarded bandages posed a serious health hazard to other kids who were our clients. As excited kids we sold the bandages to all kids in the suburb and few knew where we sourced them.
My primary school teacher Mr Kamudzandu also realised the entrepreneurial skills and gave me milk and maputi to sell to other students during break time-I was one of the best marketers at the school!
Fast Forward to Adulthood
Somewhere along the way I lost the entrepreneurial skills. I went to college and studied finance and then got a job immediately after college and have been working in various sectors with my key strength being in risk management. I only wonder what would have happened had someone noticed this talent and nurtured it? What if the local university had a program where they identified students with entrepreneurial talent and nurtured them? Your guess is as good as mine.
Why Entrepreneurship is Important for Kids
Looking at my history, I believe I wasted my entrepreneurial talent maybe on a good side the fact that I write and offer free business information to others compensates for that? What if at college we had a Prof in the mould of Mr Kamudzandu who could identify business talent and nurture it?
I firmly believe that kids should learn about business from an early stage, they do not need to be forced though; they don’t need to be pressured to be successful. Every holiday should involve fun, relaxation and some business project. They need to learn from an early stage how to manage business, basic financial literacy, how the world works etc.
The sad part is that few schools are covering the business side of education-I doubt whether universities have improved too. My late Prof Mutiti tried to bring some business here and there but it was strictly commercial law from him, other lecturers stuck to their subjects and never veered off radar to talk about entrepreneurship. Maybe there was no need for that because their mandate was to produce learned graduates who can become successful employees?
So the benefits of developing, identifying and nurturing the spirit of entrepreneurship at an early age for kids are plenty and include the following:
Risk taking skills -Developing self esteem-Decision making skills
Leadership skills-Global thinking-Trouble shooting skills
Finances and money awareness-Creative Innovation
Kids should undertake various projects at an early stage and discover their niche and this should be done in a friendly environment where failure is not frowned upon. There is need for fun games and business learning. Business tours for kids and interaction with some of the leading business people in the country.
I believe this is where guidance starts career! Career guidance should not start at high school or college level. By the time your child reaches form 2 you should both be knowing their key strengths and weaknesses.
So what is ZBIN Doing?
We are already late in the holiday but we will share a lot of information on business and the kids. We will share a couple of resources such as videos and articles. We hope to be prepared next term and invite teachers from the forum to register and deliver business classes for the young ones. Other countries have developed system in place to nurture business talent for youngsters and in Southern Africa we need not be left behind.
Starting a business is a great way for kids to learn real life skills and build confidence.
To help your child’s success, have them follow the basic steps involved in starting a business by business professionals listed below. That will give them greater confidence and a better understanding of what they will need to do be a successful young entrepreneur.
Also, along with running a business, your child will need to understand some basic business math. See our business math category for subjects such as profit and loss.
YOUR CHILD AND BUSINESS
Interests and Skills
It is important to start a business based on the skills and interests of your child. For example, if he or she likes to entertain, then they should consider an entertainment based business, such as a clown at younger kids birthday parties. If they like to use computers, they might consider a business typing or creating documents for others.
Business Plan – Setting Realistic Goals
Every new business should start with a business plan. What are the objectives of the business? The business should have a mission statement explaining what the business is trying to accomplish. Also, the goals should be realistic. How will your child make money? What will be the costs? How much time will be needed. Will the business interfere with other aspects of his or her life, such as school, or after school activities?
Part of the business plan should include market research. Have your child study the market to see if there actually is a need for the product or service they plan on selling. Survey potential customers to see if they might be interested, and also how much they would be willing to pay. The more expensive it is to start the business, both in terms of money and time, the more important it is that your child do market research.
Does your child have the necessary financial resources to start the business? If not, would you be willing to lend the money? Let them know that if they are serious, and can put together a credible business plan, then you may be more willing to fund their new start-up.
Preparation
What skills will be necessary for the business? Does your child have these skills? If not, what type of training might be required? Information on learning different skills may be found on the internet, or at your local library. Friends and family are also a great resource. If possible, study the business from others who have done something similar.
Safety
Safety should always be the top priority, so your child should check with you regarding any businesses they are considering. This also includes always knowing where your child will be. For example, businesses where your child needs to go door to door in unfamiliar neighborhoods should be avoided. Children should also stick to age appropriate activities.
Start Small
Kids should not try to do everything from the start. Start small and have the child test the business on a few potential clients. Then check the results, and adjust the strategy if necessary.
Marketing
Your child will likely need to do some form of advertising for the business. Handing out flyers to prospective customers is one way to advertise. Mom and Dad may also know people who are prospective customers. Word of mouth is a great form of advertisement. If your child does a great job, others will find out and seek them out.
Financials
Is the business making a profit? They will need to understand that the business must make a profit at some point, unless the strategy is a charitable one. Remember, revenues minus expenses equals profit.
Evaluation
So how is the business going? Is it making a profit? Is it matching the goals set in the business plan? Is the profit worth the time and effort involved in running the business? Is it taking away from studying? These are all questions that must be regularly be asked.
Encouragement
Finally, be sure to give your child lots of encouragement as they begin their business. Remind them that lots of very successful businesses were created by people that failed their first few times. No matter what, learning new experiences, such as starting a business, will help prepare them for the future.
Did you know that you can earn a living from online forex trading? Yes you can earn a living if you are willing to work hard. You have to be willing to put in a lot of time in studying and researching. Online Forex Trading is not a get rich quick scheme, you have to put in a lot of hours in studying and mastering the Trading techniques. You need a lot of patience before benefiting from it.
ZBIN has two groups of traders; the first one is for new members who are learning the basics and the other one is for professional traders. Our mistake in the past has been that of adding anyone to our group without verifying whether they have basic knowledge of Online Forex Trading. This resulted in the addition of many people who were constantly asking about the basic of Online Forex Trading resulting in less progress of the group.
What is ZBIN Offering?
So you can join and assess whether this field is for you or not. Before joining make sure that you know the basics, our professional tutors will then help you with additional group resources.
New Requirements to Join ZBIN Online Forex Trading
As from January 2017, we are going to be requiring new recruits to do the following:
So invest a few hours during weekends to understand the basics, to have knowledge of how to operate demo accounts before sending a request to join ZBIN Online Forex Trading Group.
After joining expect more help from the group in terms of extra resources such as videos, books and audios on online forex trading. All of these resources are available free of charge. We encourage members to spend a lot of time in demo account operations before they go live. The motto from ZBIN is Practice, Practice and more Practice…you need more practice before going live as this is a high risk field.
Advantage of joining ZBIN
So there are a lot of Online Forex Trading on Watsapp but the problem is that the majority of them are operated by dubious characters who are promising members of the public instant high returns. Some trade on behalf of people with no knowledge of online forex trading and results of such practices are predictable…the schemes often fail leading to huge losses for people who would have invested.
As ZBIN we have a brand to protect and are therefore only assisting members with trading skills through free resources. We have a strong policy on members doing their own trading, no one should trade on behalf of another. Anyone found to be trading on behalf of others is ejected from the group.
So we have a lot of free resources and you can learn from others before trying out on your own.
Next ZBIN Online Forex Trading Class
If you are interested in joining then contact our CEO of the Online Forex Trading Group, Ryan Gambinga and he can be contacted on +263772 627 916 . Get in touch with him by sending a WhatsApp message to join. As explained earlier, do not join our group without basic knowledge. Our groups consist of Zimbabweans, Malawians, Zambians and South Africans.
Wishing you the best
So two weeks ago I had a rare opportunity to have a chat with an Ice-cream man. I gave the dude a lift from one of the northern suburbs into the city. Being a curious man I wanted to find out what he was doing in Chishawasha and he presented me with the following facts:
Opportunities in the ice cream industry: Do read our story on business opportunities in Mozambique-Tete is looking for more investors in this field. The hot and sometimes humid climate makes it favourable to invest as demand for ice cream is high.
I have in my inbox an inquiry from a ZBIN member who is based in Australia. He is looking for partners with established businesses in Zimbabwe. He would like to know about the nature of the business, profitability and proposed ownership structure.
Response to him
One of the reasons why we established this group is to unlock business opportunities that exist the Diaspora and Locals. ZBIN realised that a lot of our brothers and sisters in foreign land are still interested in Zimbabwe and the majority of them would like to invest back home. What is currently is an institute that spearheads investment in Zimbabwe by the Diaspora.
Notable investment institutes that exist include the Zimbabwe Investment Authority, however this looks mainly looks at high value Direct Foreign Investment and does not specifically target the Diaspora. We also have another institute specifically set tap into the Diaspora Community, Homelink, however there is little action from an institute with the potential to facilitate direct investment of more than USD100m per year from the Diaspora.
So in the absence of no one taking the Diaspora Community seriously in terms of investment, in came Zimbabwe Business Ideas and Network. We have seen the potential and are going to showcase to relevant authorities and especially governments in Southern Africa that its possible to bring development through Diaspora engagement. We are going to showcase that its possible to bring immense benefits to home countries through engagement and partnerships between the Diaspora and Locals.
ZBIN Strategy
Connecting the Diaspora and locals is not an easy process. Connecting people who do not know each other and involve huge sums of money is risky business, extremely risky. Chances that someone can just disappear with investors’ money are extremely high. We have seen in the past what happened to institutions such as ENG and other financial institutions in the past, we have seen a lot of Diasporans being duped by relatives back home when building homes in Zimbabwe. We need not remind you of the recent collapse of MMM do we? There are a lot of dishonest people and schemes around and ZBIN has covered some of them in recent times.
Trust
We essentially have a problem of trust when we talk of relations between the Diaspora and locals. With trust issues come RISK and therefore we have started the following processes:
I will explain more in future about the strategies we are implementing for the group to ensure that members have formally registered businesses that can show potential before we encourage the Diaspora to invest. As a group we are going to have vetting and follow up mechanisms so as to reduce risk.
One needs to already have a business running, complying with all local legal and operational laws. You need to show that you have accessed loans from local financial institutions and handled them well. You need to show that you have a market for your business; you need to show the profitability of your business.
Conclusion
A lot of our members continue to inquire about investment like the brother from Australia, we do have various inquiries from USA, New Zealand and UK but we are encouraging members to hold on for a while whilst we put formal mechanisms in place. We are going to have test runs where locals partner amongst themselves and produce good results. The key word here is PROOF, locals should show that you are organised, you are ethical, you must be successful in a difficult environment.
You must show that you have a history of accessing funds from banks and other partners and servicing them before we talk of you partnering with any Diasporan! We will therefore be putting in place mechanisms to facilitate a sustainable and successful business partnership between locals and the Diaspora. When are we going to have the first case study? We have set a target of March 2017 and every two weeks we will be giving you an update on progress made.