I think that one of the reasons we don’t have too many large corporations in Africa is because business owners hire people that they are smarter than. They hire people who depend on them to function. It simply means they are doing their job and that of their supposed employees.
An expert will generate more results than someone who is learning on the job. When we hired an accountant and stock manager for a particular company, we saw two types of people during the interview: the experts and those who said that they will learn on the job. I told one of the ladies (that studied economics) who said that she will learn on the job that she should have learned it before coming for the interview. I told her to volunteer to work with a renowned accountant in order to gain the necessary experience and become an expert.
Every leader must endeavor to hire the right people to work with him. The capacity of your team will determine the future of your organization. The capacity of your team will determine how big the organization will be.
Some business owners in our clime hire incompetent people because they are trying to conserve money. But the truth is, if you pay peanuts you will hire monkeys. If you hire unqualified people just because you don’t want to spend money, you will end up telling them what to do which will hinder the growth of your company. Stop hiring children to run your organization. Hire qualified experts to help you build your organization.
Most companies in Africa remain at the startup level. I strongly believe that a well-managed startup is supposed to grow from that phase to the growth phase, the expansion phase, and finally, to the maturity phase. Most companies in Africa hover around the startup and growth phases because the owners don’t hire experts. In fact, there are few businesses here that are bringing in over $500 million revenue annually in Nigeria. Most businesses end up as a mom and pop business that is meant to help us feel good—build houses, buy cars and live as middle class people.
This is what happens to some founders of organizations and businesses in Africa. Let’s assume you’re running a bakery and your customers are hawkers that come in daily to buy bread and other things you produce. Then, the business begins to grow exponentially. You start getting orders from multinationals that host global events. You could comfortably make mistakes when you were selling to hawkers, but now, you have a contract to prepare confectionery for a state dinner or for Shell Petroleum.
Now, you need experts—those who know how to accurately measure flour that can produce a certain number of croissants for ten thousand people. But because you don’t have those kinds of professionals in your company, you messed everything up. The multinational or government state dinner that was supposed to attract big time customers became a disaster. You go home and start blaming the devil and your enemies.
The problem is that you don’t want to hire professionals and allow them run the company profitably. The company has grown beyond your capacity, and that of the minimum wage staff you have. That is why I tell business owners that if all their staff are close to minimum wage, the company cannot grow. Why? Because you don’t have the required capacity to grow beyond the startup phase.
You need the expertise of people that have managed startups. People that set up watertight strategies that led to the massive expansion of similar companies. You must get them by all means. As long as you and your minimum wage staff are there, that company will not grow.
What did you learn today? Share your thoughts with others at the comment section below.
See you at the top!
Copyright 2022: www.ifeanyieze.com. Reprint, curation, adaptation, or reposting this article without the consent or approval of www.ifeanyieze.com is a copyright theft.