FOR YOUNG BUSINESSES

Nigeria is a tough country to live in. Its tough to go through 4, 5 or 6 grueling years of academic studies (as the case may be) with the aim of being relevant in your field of study only to be disillusioned by the harsh reality after graduation that there are no jobs out there. Most young men come out of the University totally unprepared for this eventuality and it has led not a few to a life of crime to make ends meet.

However, kudos must be given to those who refuse to tow the line of the multitude of unemployed graduates who decided to join the league of yahoo boys already tarnishing what's left of Nigeria's rotten image. During this very difficult period, we have seen a lot of young people distinguish themselves by making use of their God-given talents to create businesses that have created employment for others.

Starting a business as a young person in Nigeria is difficult and if you've never tried, you'll never know just how mentally challenging, emotionally draining and psychologically exhausting it is with its attendant difficulties; chief among them being raising capital. Regardless of the jingles bandied about, the banking industry is very unfriendly to potential business owners with their constant demand for collateral security and their unbelief in little dreams, and by little dreams, I mean business plans that don't forcast massive turnover on investment. Personally, I don't blame the banks. They deal with other people's money and they are hounded to declare mind-boggling profits to convince investors and shareholders their monies are in safe hands...that's a story for another day.

This capital difficulty has led many young business men and women to engage in what I call Unintentional Advance Fee Fraud or simply put, Unintentional 419. Many times, I have encouraged friends and acquaintances who took the self-employment route by patronizing their wares and services. More often than not, it always ended up in disappointment. I have had to learn the hard way that business and friendship mix as good as oil does in water. In order to preserve old friendships, I do not let them stray to business.

What I got to find out much later is that most times, these young business men and women don't know how to handle the volume of work they get. This automatically turns them deaf to calls after failure to meet deadlines or they suddenly became scarce like jobs themselves as it suddenly turns into a game of hide-and-seek. The guy who called you every second of every day to ensure he got that contract from you or the lady who wouldn't stop stalking you suddenly becomes more inaccessible than the president.

What most don't realise is that at those earlier stages, a good reputation is more important than what money they make from the volume of jobs. The sure way to ensure longevity in business is to have a solid reputation as one who keeps to time and delivers on schedule. If for any forseeable or unforseeable reason, you won't be able to deliver on schedule, call your clients before the deadline to explain why there will be a delay and tender unreserved apologies. Yes, your clients may get mad but you owe them that duty; not just for them but for you and your fledgling business. It is the cardinal principle of customer service.

For young business men and women in the habit of making promises they can't keep and receiving payment for services not yet provided, it is a dance on a very slippery slope. Without a strong business ethic, you may find yourself spending such monies on all things unrelated to the business at hand and that's how it starts. Before you know it, you become a professional dodger hiding from clients or customers. This is Unintentional Advanced Fee Fraud or Unintentional 419, if you may. With that, goes your fledgling business that may have had so great, a potential.

The bottom line is this; you cannot do more than you can. For this reason, you must learn to say "no" or at least, explain how tight your schedule is and how it would prevent you from delivering on schedule. Forget about the money that may escape your hands, and the clients or customers you may miss. The important thing is that those you work for will have a good story to tell about you. Money cannot get you a good reputation but a good reputation can get you loads of money.

Think about it.

Malcolm O. Ifi.