Know the difference between an asset and a liability. Even for some of us accountants, the clarity between assets and a liability is not so clear. For example, is a car an asset? Take the following test: Does your car have potential to increase future cash flows? Does the benefits your car offers exceed the costs of ownership in the long term? Does your car have a resale future value higher than the purchase and maintenance costs combined? Does your asset have readily available buyer anytime you would want to dispose of it? You get the idea. An asset should…
Why Indians succeed easily in Africa, part 2
Involve family in their business Once I was at one of the top Indian owned company here in Uganda. I had been invited to make a presentation to the board on the topic “the role of the Board in strategy execution and risk management.” One of the attendees caught my eye. It was a 12 year old young man, who was seated among the board members. During break I enquired what the young man was doing among the top honchos of one of the biggest local fast moving consumer goods. They told me he was one of the grandsons of…
Why Indians succeed easily in Africa, part 1
I come from Munteme village in Hoima. Some of the iconic buildings in our village, we were told, were built by the Indians. When I was a very small boy in primary in the late 1990’s, the first special building with two underground floors which fascinated me a lot, had been built by Indians. Unfortunately, the ultimatum that was given to the Indians by the then Ugandan president, Idd Amin Ddada, led to the closure of this factory. But that is a story for another day. 30 years later, I am here in Kampala. I interact with many Indian brothers…
Why would it be hard to be fired?
Knowing your value on the job is critical personal career success secret. What special skills do you bring on the table? It is integrity? Are you a trusted person that even if you are a not so good performer, you are so handy that top executives trust you even for their personal errands? Ask yourself why would it be hard for you to be fired? That is your bargaining chip. Remember, it takes time for you to discover your value to the business. No executive wants any one put them at a ransom. But every executives wants to deal with…
Who are you?
Your biggest obstacle to growth is poor mindset. This morning, a top executive came to my office and said “Mustapha I looked at your proposal, and I thought maybe we find a better way of doing this assignment. I like your value offering and methodology, but your fee is a lot. I am suggesting, we have an internal staff to work with you so that they will do all your field work under your guidance. This will help us work with you within our budget that is 60% less what you proposed. What do you think?” This executive is brilliant.…
What is your most valuable possession?
You are 30 years old. You are still at University. You have a great job and two children. You live is a great apartment. You have heard about the green gold in farming and have bought over 20 acres of land up country. You have not yet started developing the land as you are waiting for it to increase in value. You feel confident. You are happy at work. And you are becoming a motivational speaker of sorts. Are you successful? How do you measure success? What is your current market value? The accountants ask: what is your…
