Part 3 – Turning the Idea Into a Business

When this gets published I would have attended the 2nd Annual REVOLT MUSIC CONFERENCE  in Miami. It cost me an arm and a leg to get there last year, but here I am, back again this year. #RMC2014 was truly a life changing experience. I came back motivated, inspired and ready to effect change. This is the conference that inspired the Pink Revolution Conference that Zinhle and I launched last year. I am confident that #RMC2015 has been just as inspiring.

Back to the business…

Today I want to chat about what I think is the most important part of writing your plan and establishing a business… VALUES.

Many new age businesses seem to think that there is no need for a values statement. Let me tell you why you need to think about this.

South Africa is going through a transition, an economical transition, it might be slow but it is happening. The government has introduced policies like BEE and tenders are available for anyone who can pitch really. This means a lot of temptation for shortcuts, bribery and the chase for the Rand. You have to stop and really think about how far you are willing to go for “the Rand”. We have seen many powerful men and big companies who have fallen from grace due to scandals and allegations of all sorts of misconduct.

At any given point your company is faced with many options, alternatives and decisions everyday. Values help you wade through complicated issues that sometimes don’t have easy answers. A values statement is a set of beliefs that guides the activities and operations of your company no matter what size.

Values must matter and should influence all parts of your decision making and day to day operations as a business. Your vision statement represents the company’s hopes and dreams. They are inspirational calls to action.

Let me give you a personal example: I was once approached to pitch for a project for one of the government departments. It was sold as a women empowerment project that would have me make profit of anything between R500k – R1m in a short space of time. After enquiring further on the details of this project, it seemed that no one cared enough to tell how amazing it would be or how many people’s lives we could affect. All I heard about was the money I could make. This is always a red flag for me going into any partnerships.

I decided to not pursue this opportunity because experience had taught me that if you lay with dogs, you will wake up with fleas. It is a rule for me, I get into partnerships with people who have the same values as me. I can make this decision because I know what my business values are.

So here is how you can start thinking about your business values. On careful examination you will see that the Coca Cola Mission, vision and values addresses how the business will interact with all the different stakeholders, as listed below.

Coca Cola Mission, vision and values : http://www.coca-colacompany.com/our-company/mission-vision-values/

• Community
• Partners
• Clients
• Suppliers
• Distributors
• Employees
• World at large

Use this guideline to make decisions on how your business will interact with these different stakeholders. As you examine this further, you will start shaping either a values statement that encompasses your business personality, or that address the different business parts.

Values are important in your personal and business matters. The dreams of the person you want to become and the business you want to grow must override your fears, your doubts as well as any other weakness that can make you lose focus. We need more businesses that young entrepreneurs can model because of the change they are making in our communities.

Spread love and stay blessed

Nomndeni Mdakhi 
Change Catalyst

3 Comments, RSS

  1. Sayitsheni@gmail.com'

    Sayitsheni October 22, 2015 @ 7:52 pm

    The value of this entry is beyond measure – Thank you, I needed to read this. I think I know my value now. Empowered*

  2. gcngayaya@gmail.com'

    Gaolatlhe Ngayaya October 26, 2015 @ 8:47 am

    wow. Truly inspirational post. Since I started having a visual board about my personal projects, I have seen growth and commitment. Having values helps attract the right kind of people. Thank you

  3. Siyanda.jako@gmail.com'

    SiyandaJ November 19, 2015 @ 1:39 pm

    Wow! Thank you so much, I have been Procrastinating my short term goal to get to my Long term for 3 years now, And its still an idea and I have not started 🙁 because I don’t trust myself and not valuing myself at all its like a sickness but so my business is still just an Idea that’s playing in my head everyday.

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