Diaspora Matters

So a few weeks ago I was at an SME workshop that was held in Harare and was fortunate to share a table with  executives from this leading funeral insurance company in Zimbabwe. We got to discuss various financial challenges and opportunities that exist in our motherland.

So as discussions went on I posed one question to this executive team ‘Do you consider the diasporans when designing your company marketing strategies?’

The response was shocking ‘No we do not cover diasporans in our policies, we are strictly a Zimbabwean company’ came the short response from the team? I had to go to great lengths to explain that the Diasporan Community remits close to a Billion dollars every year to Zimbabwe and that this is a quarter of the national budget. I also had to explain that this largely ignored community is a key player in the Economy.

So the reality is -a lot of diasporans cover their relatives in Zimbabwe  on medical and funeral insurances. On the Mendelow matrix, here is a player with high interest and high power. This community is surely  a key stakeholder in business in Zimbabwe and for this company. So Yes they do not cover Zimbabweans in Austria, Australia, Trinidad and Tobago, Moldova, UK,US and South Africa.They do not cover them directly but do so indirectly because most of them are remitting funds which also cover funeral insurance! Unfortunately this observation is not restricted to this funeral insurance company-a lot of Zimbabwean companies are in the same boat.

A lot of Zim companies are inward looking and its no wonder why the RBZ is having to introduce incentives to encourage or push a lot of companies to seriously refocus and export.

So what should Zimbabwean companies do?

Whenever you are drafting your company strategies make sure you cover the Diaspora Community. Find how you can benefit by tapping into this growing community. As explained above-you can benefit directly or indirectly.

You need to carry out detailed market surveys that will assist you in developing targeted products and services for this sector.

Some companies have already moved to tap into the riches that this community possess. A case in mind is that of Econet which has developed various products and services that service this sector. More companies are encouraged to look outward or fall by the wayside.

The other time I witnessed an advert by homelink on ZTV. Not a bad idea from Homelink but your target market and therefore focus is to communicate and engage the Diasporan community which is resident outside Zimbabwe. Send your message to Zimbabweans in South Africa-send your message to the Diasporan community in Europe, US, Canada etc. Carry out detailed studies of the various platforms that you can use to send your message across. You will also need to engage this vibrant community…an advert is not good enough, establish a help desk at Harare or Joshua Mqabuko Nkomo airport that provides information to diasporans coming to Zim and those departing etc. There is more that needs to be done inorder to effectively engage this sector-some old models my need to be discarded as this is new territory for most managers.

So what will happen if local companies fail to develop Diaspora Strategies?

If you are old fashioned and believe in doing things the way you have always done then guess what will happen? Other players are going to fill the void. Munemo and friends can simply  establish a small funeral insurance firm that  takes  advantage of the Diasporan Community and within a few years challenge established funeral insurance companies.

If Homelink doesn’t restructure then other financial institutions can easily fill the gap that exists. Do not be surprised to see big firms with financial muscle such as  Econet moving in and quickly filling the gap.

This sector presents low barriers to entry, ZBIN established in less than 20 months already has 28,000 members. Our website established 3 weeks ago already has more than 12,000 visitors translating into 500 visitors per day. So this is a sector that has high growth rates and does not need old fashioned models. Zim companies are therefore expected to immediately go back to their stakeholder matrices and ask why they did not include the Diaspora community in the first place. They should ask more questions which should help them to come up with fresh and innovative strategies to tap into this community.

To other sectors of the Zimbabwe, the question is…Is the Diaspora Community interested in real estate matters only? Some have purchased houses already ..what next? How about participation in the land reform? How about other investment areas such as Mining?

Food for thought but the key message is that Zimbabwe companies can only ignore the Diasporan Community at their own peril.

In part 2 next week, we will talk about how to effectively engage the diaspora.

ZBIN Newsletter for www.zbinworld.com
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ZBIN Ecourages members with registered claims to always register with us if you are looking for potential partnerships. Registration is free and today we start with a few posts from some of our members.

1.Morgan Magadu l have being doing mining logistics for an artisanal mine.l want mix up with other minners.my number 0775823852 Morgan Magadu

Good evening wonderful folks we hope that you had a wonderful day. Ok this evening we look at 2 interesting franchises for South Africans. You can find the franchises on http://www.franchisedirect.co.za. Please note that there is no relationship between ZBIN and this website.

(ZBIN Comment: The franchises would suit young people with business qualifications)

Young Entrepreneurs :R135,000

Young Entrepreneurs teaches children, ages 7-15, vital entrepreneurial and financial literacy skills and helps them to start and grow their own micro-enterprises in a fun and experiential way.

The programmes are designed to encourage entrepreneurial thinking and spark the entrepreneurial spirit in young people. More specifically, the programmes allow kids to discover money and business through play and a collection of fun interactive, multi-media minds-on and hands-on activities, games, simulations, videos and online applications.

2. Easy Apps: R142,000

You can generate a serious recurring income from building mobile apps for businesses, without any technical experience!

Smartphone sales have broken the billion barrier and the South African app market has achieved 25% annual growth. This is your opportunity to profit from the fastest growth market in history and build the wealth and financial security you’ve always wanted.

Leverage the powerful technology and proven sales process to earn a recurring income, without any technical experience. Starting your own business couldn’t be simpler, with professional training, business mentoring, and a world-class marketing launch pack. We offer innovative technology and ongoing support, helping you build a successful business in an explosive market.

For more information on South African franchises, visit http://www.franchisedirect.co.za

Juvana Foods has been operating in Harare since the 90s. Renowned for its tasty chips, its one of the few restaurants that have stood the test of time. Its still kicking and the food still tastes the same, the owner is still the same. We hope to do an interview with the owner of this place and find out a few business tips to share with our members.

For now we feature some of the comments from ZBIN members- folks just love Juvana!

Victoria Mbauya And the food still tastes good!

Tendai Bond Cash-Baroness WeMhazi Hanzi paibikwa ma chips anonaka. Generally ma chips eku Zim anonaka hawo. Kutodarika ema British vacho

Mdala Wa Rue Uyu is one of the few mu city centre vane businesses e more than 20 yrs

Lindsay Utsiwegota When i came to Zim i went to town specifically for Juvanna chips.

Namatayi Maiguru VaNoku Jipi repa juvana mnandi

Mdala Wa Rue Morizivawo here ?

Namatayi Maiguru VaNoku Kubvira ndichikura and when i came to zim i had to eat it

Alice Marimo They still make the best chips in town

Theresa Sithole Standing the test of time, ndakadya pie ipapo nanhasi I remember the taste

Mai Kuku Masiziva machips avo kwakumberi

Rowena Jacobs Nice chips, even after all these years

Chloe Razemba Juvanna ndizvo! And their portions are generous too.

Laureen Munodaani Mushati-Makoko Added on my list..I miss maChips ekumba the best in the whole world

Mdala Wa Rue Yeah wen u visit Harare Juvana chips is a must buy

Laureen Munodaani Mushati-Makoko Asi kunga uchafusa mamwe kutakura muLuggage

Tapiwa Nyaruwata yuwi mufushwa we chips kkkkkkk wandinakidza taita

Moreblessing Tsungai Jipe Jipe paJuvanna unombotanga wadya yekombi ukapfuura nepo uri broke

Moreblessing Tsungai Ndapinda muHre ndaita practical remembrance ndapfuura ndikambodzura ndangariro

Exavior Chitova Chivige Jipi repa Juvana rakapenga kani nekahuku kacho, vanogona basa

Joseph Diamond Juvannah mukuwasha wedu anoendepi iyeye

Apton Kanyemba pataitamira mababe

Fortunate Sikirwayi Hii ndabva ndafunga ma chips avo and that huge pie

Nax Chick Ndatotenga ma chips imomo nhasi

Spiwe Tapiwa And still save the same chips

Mukunda Wekwa Midzi hot dog ine ma banger ane sauti yekuisa nebhara

No matter where your business stands, you likely welcome the opportunity to make more money and land new clients in the coming year

What can you do to take your business to the next phase? These ten tips can help you expand in 2016.

Fire Your Worst Client

You may feel that you can’t afford to lose even one client but chances are, there’s one person who demands more time than the others. Unless that client is paying for that extra time, this is the year to cut ties. Even if the client pays the same as the rest, the daily stress that comes with dealing with demanding, finicky clients isn’t worth it.

Reach Out to New Prospects

Expand into a New Market

If you’ve limited yourself to a particular regional area or industry, consider going beyond those boundaries this year. One new client in previously-unexplored territory could lead to referrals to others in that area, growing your business exponentially faster than staying within your comfort zone.

Travel to Meet a Client

So much of business today is handled remotely, entrepreneurs can go months without seeing clients face to face. In some cases, they have clients they’ve never even met. This year make an effort to meet at least one client in person. You’ll find the face-to-face experience helps form a bond you wouldn’t have otherwise.

Outsource the Small Things

In the early days, business owners often take responsibility for everything, since they can’t afford to hire employees. But today’s business owners can outsource duties online through services like Upwork and FlexJobs. By outsourcing small things, you can focus on attracting new clients and growing your business.

Change Your Hiring Practices

If you’ve already grown to the point that you have a team of employees, consider shaking up your recruiting practices in 2016. Hire someone who brings a unique skillset to your team, even if it means contracting with a recruiter to find the perfect person. By diversifying your talent pool, you’ll bring a new perspective to your daily work environment, brainstorming sessions, and client meetings and possibly open doors for your business to pursue new projects.

Attend a New Conference

When you started your business, you may have skipped conferences due to a lack of funds. If you did attend them, you probably focused on a few events within your own industry or region. This year, consider attending a conference outside your industry or in a new area of the country. You’ll make new connections and get perspectives you wouldn’t have otherwise heard.

Pursue Your Passion

Spend some time thinking about what makes you happy, whether it’s through your business or in your free time. Then set time aside each week for that activity. Studies show pursuing a passion can add an extra eight hours of happiness to your week. Most importantly, it will prevent burnout and remind you why you work so hard each day.

Participate Online

If you own a business, chances are you have a website and several social media accounts, but are they active? If you aren’t participating in your online presence, you may lose followers who see your sites as outdated. Use a dashboard service like Hootsuite to keep up with all of your social media accounts in one place.

Take a Course

Truly successful people never stop trying to learn and better themselves. Find a way to take a course related to your business, whether it’s a webinar, local networking workshop, or through an online education site. Even if the course is on a subject you’ve already mastered, you may feel inspired by a refresher on the basic principles of that subject.

Each new year provides new opportunities to take your business to the next level. Make sure you know what your goals are and work each day to eventually reach those goals. You’ll not only be maintaining your business’s current success, but you’ll be ensuring your success for many years.

Good morning dear forumites, today we meet again and look at the lucrative business of car parts for second hand vehicles imported from Japan. In Zim estimates put the number of second hand Japanese vehicles at more than 3 million in Zimbabwe and the question that immediately comes to mind is;

Who provides service kits and car parts for these vehicles?

Cdes and friends you too can benefit from this industry. At the present moment its only our good brothers from West Africa who benefit and the reason why they benefit is due to trust and working together. You will have to work as a team in order to raise capital requirements of up to $40-$60k.

Our brothers from West Africa  source these car parts from mostly Dubai and other Middle East countries, East Asia is also included in the equation.

So what do you need to do?

1.Get into groups where you trust each other, ideally workmates, church mates or relatives, pool resources and find out the process of importing car parts.

2.Develop marketing strategies for your car parts -consider selling car parts on credit(something our brothers from West Africa are currently not doing as they insist on cash upfront)

So all the best to you this industry is not as complicated as you think.Expect returns of more than 100%…industry would suit diasporans.

Good luck

Children’s party is one of the most dearly event for a parent. It could be for various occasions like the birthday party, baptism, graduation, and other such events such as the festive season which the parents may want to celebrate. The key aspects of a children’s birthday party are the Decoration, gifts, entertainment and food & drinks. One may choose to do this business covering all the three aspects and may call himself as an end to end organizer of parties. The other option is to just specialise in any of the three and have contacts with the party organizer and grow the business thru various party organizers.

MARKET:
The market for the party are wide range of parents who want to just enjoy with their kids and are too tied up to make arrangements. It will be an ever existing market and it is difficult to size it as every household may differ in amount they want to spend on each party.

CLIENT:
The client are the kid’s parents interested in availing this service. As it is a service oriented business, client satisfaction is a key in the business. Also it is very important to ensure that the clients call up repeatedly for more business and refer to others for organizing the party.

Requirements for Children’s party business:

Following are the list of mandatory elements for beginning the business:
Business License
Photos of party themes
Business Phone and Cell Phone

Following are the list of optional elements:
Franchise connection: This is not critical. Having a franchise helps in getting the knowhow of the business. There are quite a few firms who run as a franchisee.
Vehicle with Cargo space
Shop or Office of choice to show case the party themes.

Apart from the above, one needs to have lots and lots of creativity.

How to go about the business:

– Develop business relationships with vendors, suppliers, caterers and entertainers. Negotiate a standard fee of using their services.
– Plan and collect themes that would be offered to clients. Fix the prices of the themes which would have to be competitive to the market rates.
– Ensure that the unique selling point of the business is identified and communicated to all the prospective clients.
– Plan the games and gifts in line with the themes so as to make the event memorable.
– Innovate and try to perform something new in every party so that the clients don’t see repetition every time.
– Initially pitch on to various existing business owners who may subcontract the party organizing activity during their busy schedule. This would lead to having the first set of clients. The clients may thereafter refer to other clients wanting to organize the party.
– Understand the requirement of the client and the budget within which the party has to be conducted.
– Focus on maintaining good relationships with the clients and the other business owners.
– Attend all the party and enjoy with the kids. This will show the level of engagement and seriousness in the party.
– Promote the business by every possible means i.e. through flyers, facebook or Youtube etc.