A few weeks ago many of you “liked” a comment that someone made, so I decided to reply in my post today. I won’t answer all parts of the question here but I think most of you can put two and two together to answer the rest yourselves.
Ceces Cumins wrote,
***
“Good Day Sir Strive Masiyiwa
Thank you so much for sharing this with us all. May we continue to fly high as Eagles.
I feel lately we may please kindly discuss Sir, “Murphy’s Law”. If and when things can go wrong they will.
Also implementing plans and ideas into effect.
Outsourcing Challenges.
These are the main factors I am seeing lately.
Thank you Sir. May your day unfold productively.”
***
My reply,
I am going to focus on the first part of the question. Nearly no one on earth planned ahead for the devastating health, education and economic impact of a global pandemic, so we have all had to pivot quickly and adapt our lives, products and services to survive.
You mentioned so-called “Murphy’s Law”. When things go wrong in your business or life (and they will), the #Solution is actually not that complicated: You have to have the vision and courage to dust yourself off, analyze the situation (and lessons learned) and then #Make a Plan. It may be Plan B or Plan C or Plan Z…
I don’t know who Murphy was but it’s a fact of life and business that you have to plan ahead for risk. That’s why people buy personal insurance. That’s why they write “wills” and “health directives” to grant someone they trust with the legal power to make health decisions for them if they become unconscious in an accident or very ill and are not able to decide important things themselves. In business, you can and must also plan ahead for big challenges.
Serious business people tackle what you call Murphy’s Law with “risk management” analysis and planning. It is up to you to identify what risks could put you out of business. Most companies didn’t anticipate COVID but you can be sure no one will leave out this kind of possibility in the future.
It could be a weather catastrophe, a fire, new technologies, chronic power outages, even death, alcohol or drug abuse amongst your staff or family. Risk management and mitigation is actually a whole business in itself. This could be outsourced, or you can do it yourself with your team, but check it out.
The most important way to deal with Murphy though is your #Mindset. Don’t get frozen worrying about what can go wrong. Plan ahead for it with #Innovation, #StrategicThinking and #Vision.
The bottom line is: Don’t let “Murphy” take you by surprise. I understand that’s what he likes most. As the old Scout motto goes: “Be prepared!”
End.
Image credit: Amazing award-winning image by Chef Paul Rifkin who said I could share with you here today. You could say this white stork was having a “Murphy’s Law” sort of day… or you could say the leopard had done his homework! https://www.chefpaulrifkin.com.au/
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44 comments
You are a huge inspiration, Mr Strive Masiyiwa. You just made my Sunday evening with this. You wrote this specifically for me. You just dissected what has been bothering me. Thanks so much and God bless you.
“Don’t get frozen worrying about what can go wrong. Plan ahead for it with Innovation, Strategic Thinking and Vision” Dr Strive Masiyiwa
Homework done! Mind Settled! With preparation (planification, risk management, …) even things that seem wrong can be turned into benefits!
While Covid has destroyed many businesses, there are plenty of businesses (from small to large) that made more money than they could have done without Covid. Best of all, many people have spotted opportunities through this pandemic and started their own businesses! I have friends who will never work again for a company. They have made more money with their business in 4 months, than they did in the last 2 years working as employees!
As stated, “without preparation we are prepared to fail”.
Thank you sir for sharing ideas with us, you’re always our inspiration, please keep sharing with us, we might want to be enterprenuers in the future, but we don’t have caurage and knowledge to achieve that goal… And once again thank you for being the only business person who cares about other small enterprenuers…
Afterthought 2.
It’s really up to you to do your homework on this, but here’s a link to get you started on ways to look at risk management from a business point of view: https://www.investopedia.com/articles/financial-theory/09/risk-management-business.asp
Afterthought 3.
Speaking of risk management and mitigation in context of COVID: “Right now, policymakers are making decisions that will limit — or expand — opportunities for the virus to spread and mutate. Most proposals will require weighing costs, benefits and risks, such as when and how much to reopen the economy or delaying second doses of vaccines.
Wearing masks requires none of these calculations”…
John M Barry (author of “The Great Influenza: The Story of the Deadliest Pandemic in History” [1918] From a Washington Post op-ed today.
#MaskUp! #SocialDistance #WashYourHands
We are not out of the woods yet.
So basically risk management is planning for a disaster before it even happens as if it will happen.
When I thought I had learned it all this is a masterpiece. I’m one person who always worries much of what can go wrong and know I have learnt a valuable lesson. I will prepare myself for it. Being innovative is another way to go if plan A doesn’t work out I will try plan Z. Thank you Mr Strive Masiyiwa your knowledge is a mine of wealth
Planning ahead,
Being prepared
Stop worrying about the risk, make plans for it’s coming
All these boils down to averting being taken by surprise
Business continuity management sums it up.
Every business should anticipate operating in the most inconvenient circumstances.
Murphy’s law states that “Anything that can go wrong will go wrong”.
-What will be will be.
The corollary of Murphy law is the ability for one to develop sufficient willpower idealistically over present and future circumstances.
#StrategicThinker #Visionary #ThinkOutSideTheBox #Innovation #Vision
Strive Masiyiwa Thank you Sir for such great wisdom, i learned in Business wars how top executives of some companies prepare ahead of a disaster by carrying satellite phones for communication if there is a power or mobile network outage, in the series Amazon vs Walmart i learnt that executives of Amazon (even those of Walmart) carry satellite phones with them as part of their emergency plan, the satellite phones will be of use if disasters like wild fires or hurricanes occurs which result in power and network outages.
Currently reading IGCSE Business Studies book third edition (highly recommended) and investment industry top down course work subsection Risk Management. Both readings tackles risk management extensively.
To manage risks effectively starts with first understanding the business purpose and objectives, then identifying all the possible risks likely to affect the business objectives whether its natural, political, legal, health wise etc. The risks can be internal or external.
Then prepare to handle the possosible risks by grouping them according to there severity and frequency. Collect all data regarding the risk, have procedures and processes in place incase of any risk – also known as line of defense against risk. This process should be in place in every department, business unit and the general business.
Fellow entrepreneurs, remember when Strive Masiyiwa said the most important skill for any entrepreneur is the ability to read.., yes, all these informations are hidden somewhere in some book.
Dedicate enough time to reading valuable information, your business thinking will improve greatly.
Learning never stops and wisdom keeps flowing like a stream of river.
Good Day Sir
I’m a huge fan of your inspirational words and i love to put everything you post into action mentally and physically but, lately i have been trying to psycho analyse the type of man you are in the hopes to kind of merge some of your characteristics into mine but i have come to realise that despite all the philanthropic and humanitarian work you do, you are with all due respect a ‘ selfish ‘ man.
I say this because the advice you put out are for people who search for it like myself, but as a citizen of Africa have you ever thought of atleast imparting your knowledge to our African leaders on a personal basis….such as sitting down with them and advising them on what to do right…….maybe i am wrong in my judgement, if so may someone please point me in the right direction
I have learned something out of the Covid19 pandemic. As an entrepreneur, I learned that it’s very important to have savings (money). As trading, it is important to put aside funds, not put all your money into stock or assets. When time this hit us, there is a time when you will need money to pivot. At a time like this even banks will suspend to give loans. It will be very difficult to borrow but only to work with what you have. The biggest lesson I learned is what ever you do, put some savings aside. Avoid a system you work hand to mouth. A system where you spend all what you earn. There will come a time where you can work or borrow and you are required to survive with what you have.
Strive Masiyiwa you a genius sir! Undertaking multiple projects simultaneously, you are prepared for the future.we are glad to learn and unlearn. I like this USA military Maxim,
KISS.(keep it simple stupid!) Especially when working out strategies.
I couldn’t agree better. As a business it is imperative that we put structures and processes to identify and mitigate risk when it arises, which it will. For a small business, a small risk such as one of your key team members not coming to work can have catastrophic effects on your project deliveries if not planned for.
You are the most intelligent business man,#leader to come out of this continent and my country. This is more than giving back money to the people. Knowledge is power.
Ceces, I urge you to listen to three series of Business Wars
Coca Cola vs Pepsi (sugar challenge)
Ford vs Chevrolet (World War)
Space X vs Blue Origin (Setbacks)
Strive Masiyiwa
Thanks for your brilliant response, great Chief!
I compare Murphy’s Law with Heisenberg’s Uncertainty Principle. The best plan and strategy, sometimes, fail…
Nothing is certain in this spiritual/quantum world; only God, death and taxes… emphasis, mine.
In spite of this, nothing should stop us from daring and pursuing our moonshots; it is all in the MIND.
Thanks Sir.
Good morning Strive Masiyiwa Sir, thank you for the response to my request. Much appreciated and l will indeed, note and take in all the advice given. I am truly grateful and inspired Sir thank you.
Wao ! What a great post . Just like my dad will always say ‘ we are not praying for bad thing but we should be prepared for bad thing’. This principle has to be applied in every area of life
Thanks for sharing on this topic.
Ever since the pandemic broke out, it has got me thinking and my take was that as a business person, on top of innovation, there is need for diversification.
In our country, some businesses have been completely affected and are currently still closed and some have run bankrupt.
Could diversification be the answer.
Waiting for your reply Sir.
Why am thinking like this is that, u can never prepare for all the risks, I was listening to business wars of Amazon Vs Wall mart and none had anticipated for the pandemic but they have tried to adapt
By reading the book …. EXECUTION ….
That you mentioned sometimes ago .
I can’t but continue to pray more for you as it became one the best book in my library.
Mention more books pls …..thanks
Strive Masiriya …..
#Reflection:
A tough talk with my daughter.
My second daughter had just become the CEO of Batoka Hospitality, and we were all so proud of her. It’s her baby; she loves that business!
She even went back to University to do a Master’s degree in hospitality.
Then came Covid!
I called her about this time last year, and we talked.
“You are going to have to shut everything down for at least 18 months,” I told her.
“Our lodges are fully booked for this year, with people coming all the way from Europe and America. No one has cancelled and they say they are definitely coming.”
“They are not coming all the way to Vic Falls. You must prepare to close immediately,” I told her emphatically.
It was hard for her being a young entrepreneur.
During this time they have done renovations and she went back to School [working online]. She re-skilled most of her staff in things like Market gardening.
Surely,that Tough Talk made her see things from a different perspective and she “Entrepreneured It”
#Pause:
QUIZ!
So how do we make money from Sasai App?
Sasai Version 2,9.20 was published this weekend. It completes the “Architecture” of the Super App:
It has 14-“in Apps”, which are each able to operate as separate but interdependent business units.
Each “in-app” will have its own business team. Many are already in place.
In the next few months, we move the Super App into full commercial mode, even though it has almost 5m Users.
But I have a question of for the #Senior Class:
If you were given a chance to be CEO of one of the In-Apps, would you be able to able to outline the Revenue Model that applies to each one [hint: they do not all have the same Revenue Model]; but no one would ever be considered to lead any of them, who does not understand the Revenue Model of each In-App!
Let’s see how good you are.
No prizes. If you can do it, then you understand the business of Apps.
My view is to have a vision that is so strong, every plan A or B or Z or contingency plan is for that vision to come through….
I also have my own view I don’t know if someone else talk about before I didn’t manage to go through all the comments yet but I think if you are an entrepreneur you have to build a strong relationship with your suppliers, contractors financial institutions and some other entrepreneurs around you so that if a day like that came you have people who can help to lift your hands up because we all know that sometimes insurance companies won’t pay you for everything. So if your relationship with other businesses you can talk to them about your situation and see if they can help to rebuild your business again
To Mr Strive Masiyiwa and everyone who read this message. I’m in the working class and during my interactions with many of my colleagues I discovered that most people need to make some form of investment for a second income n to prepare for retirement. I’ve followed Mr Masiyiwa’s stories of borrowing large sums of money to fund their projects here in Africa. The share holders of those financial institutions are already RICH people who will continue to gain from investing on our continent. I would like to see you guys change how you play this game in such a way that can take the African people out of poverty. Mr Masiyiwa, I would be pleased if you open up to all ordinary African people on the ground to directly buy shares from your companies. Develope an instrument that allows any interested African to buy shares from as little as a dollar so that when profits start to be realised, these monies floor back to the African community and fight poverty. The current instruments are not working for our people. If there is need for policy changes in government to enable this idea to be realised, please Mr Masiyiwa as an influential figure on the continent, may you pave the way for us. God bless you n help our African people. Amen.
Hello sir,
I understand that 5G is quite expensive to roll out and it might take time for us to have it in Zimbabwe. I read an article somewhere which mentioned that you are not the the sole owner of econet, I don’t know how far true that is, but I still believe you have a huge influence in the network giant. Can you at least ensure that we get even 3G in every corner of Zimbabwe consistently. The global economy is evolving and some of us are trying to be digital entrepreneurs, unfortunately there’s nowhere to run in terms of network coverage.
I have always preferred econet because I believe it is more affordable and the network strength is the best in the country, but then nowadays it’s hard to access even 3G consistently, without intermittent interruptions. I don’t have so many quality words to say at the moment, but I’m sure you already understand what I’m talking about. Is there a way you can positively influence the service delivery and make digitization a reality for those who are at least trying.
#Pause:
Your most important responsibility right now!
When I heard that Zimbabwe had imported vaccines from China, I called our family doctor, and one of my dearest friends:
“PLEASE, PLEASE MAKE SURE MY MOTHER, WHO IS IN HER EIGHTIES GETS HER VACCINE SHOT”.
Then I gave him a list of each of my elderly relatives, and said the following:
“GO AS A DOCTOR, AND ASK THEM TO TAKE THE VACCINE.”
[I did not call them, because I’m not a doctor. If you have doubts, talk to a doctor, because this is a health issue!]
Dr Mbizho went to see my mother, and explained the vaccine. Next day she went to the largest hospital and stood in line to be vaccinated.
When she called me, I was so elated. I have no greater a duty than that.
Over to you!
thank you so much… l too recommend the book writer by Sheryl Sandberg,(COO of Facebook) called LEAN IN, where she talks about RESILIENCE and its applicability in real life situations
Good Evening Sir
I have learnt so much from your article, thank you so much
On different note
Strive Dr Sir Story Masiyiwa we would to watch iflix in Zimbabwe
It is blocked, not available in your country
#BREAKING NEWS!
I think you will find this article interesting:
Inside Africa’s world-leading coronavirus supply chain (The Hill)
https://thehill.com/policy/healthcare/543262-inside-africas-world-leading-coronavirus-supply-chain
By Reid Wilson
#Reflection:
Have pride in your toolbox!
When I left University with a freshly minted Degree in Electrical and Electronic Engineering, I did something which many engineers in that position would consider beneath them:
I registered for a 3 months course to train as an Artisan in a Machine Shop. I knew that as an engineer I would professionally lead Artisans and Technicians, so I wanted to be sure what it was like being one of them.
Most of the trainees were just school leavers, and I never told them I had a degree.
One of my enduring lessons which I would never have learnt on a University degree, was the important and pride that a good artisan has in their Toolbox:
Every day we had to open our Toolbox for inspection:
“You must always remember that you will feed yourself and raise your family with this..”
When someone bought the latest tool, they boasted about it for days!
Everyone of us has some kind of Toolbox, even if it is not physical.
What is in your own ToolBox?
Are you the type of person who pitches up to do a job without the right tools, or with borrowed tools?
#The Greatest Thrill for an entrepreneur!
Finding the right person who can execute your vision.
When Presidents Cyril Ramaphosa and Paul Kagame explained to me the problem countries were facing to get medical supplies for Covid.
I sat down and sketched a solution but I needed someone to build the platform, and make it work:
“Do you remember the speech I gave in Paris to the board of Southbridge?
There was a young woman from Senegal who pitched to me about her work on eCommerce platforms.
Find her!”
Within weeks Fatoumata Ba had mobilized the team for Africa Medical Supplies Platform. And she did it as a volunteer. Later she even mobilized investors to put money in.
Next I turned to Liquid Telecom head of Innovations:
“Can you release Oswald Jumira. I need him to mobilize a team of developers to build me a platform like Amazon.”
#Product;
#PEOPLE,
#Process.
You see I have an eye for people. I might already have my eye on you, and one day you will hear from me. But I cannot hear from you if you are a silent observer!
Always wired to identify and hire talent.I’m always. learning every time and not necessarily observing.
Mindset is everything. And the beautiful thing about it is that its a Bank. You can only pull out from it what you deposit.
#Pause:
A powerful example of @PIVOTING!
Yesterday Liquid Telecom announced that it is no longer a “telecom” company, but a “technology” company:
It is now called Liquid Intelligent Technologies, and the word “Telecom” has even been dropped from its name.
This is actually the culmination of a journey we began more than 10 years ago following a “Strategy review”.
Pivoting is like a person standing on the same spot, but reaching out to do something else;
It is not diversification.
We wanted to focus on the services provided by our digital infrastructure:
1. Data Centers;
2. Cloud Services;
3. Cyber Security;
4. Microsoft 360.
5. Enterprise [business] solutions.
It’s a complete #MakeOver!
We stopped building fibre to homes, except in Zambia and Zimbabwe [for legacy reasons]. Our fibre was for businesses, and to support our provision of services to businesses.
Once you set a new course like that you must “walk the talk”:
Skill up your people;
Bring in new products and innovations;
Build new processes.
“3Ps”!
Then you redirect energy and investment.
You don’t make an announcement until you have actually done it [this is not politics]!
Now we have done it!
More and more of our revenue is coming from these new Product areas!
#PIVOT!
Thank you Sir
Many organizations come up with Disaster Recovery Plan(DRP) or Business Continuity Plan(BCP) which is a set of policies, tools and procedures to enable business recovery or continuation of vital infrastructures or systems following disasters. These fosters the capability of an organization to continue the delivery of services at acceptable levels following disruptive incidents. Strategic planning is key to being prepared as an entrepreneur.
#Pause:
Buying and selling is good place for entrepreneurs to start, BUT….
Most entrepreneurs in Africa start their entrepreneurship journey through the business of Buying and Selling goods, produced by someone else.
This is a good place to start, because it helps you to build up your capital, and to get into the vibe of running a business.
In fact this is how most entrepreneurs started. I remember sitting with Aliko Dangote and President Obasanjo with the President joking about “this young guy who imported and sold cement”.
BUT!
It should not be an end in itself, if you one day want to be like Aliko Dangote; you must build up your capital to do more!
Remember the story of Phil Knight, the founder of Nike?
It’s there on @Sasai Podcasts:
Phil Knight used to import running shoes from Japan, and sell them from the boot of his car.
He then began to manufacture his own shoe designs, after he had learnt to mobilize capital, and also had some of his own savings.
Today the company he founded is worth $230bn, and his own share is own 22% is worth $51bn.
The problem that some people who become successful through Buying and Selling, is that they make it an end game:
Instead of moving up stream, they become comfortable with enjoying wealth buying houses and cars.
If you can avoid this trap, you are the next Aliko Dangote or Phil Knight.
Don’t be satisfied with the pathway, but the destination.
Start it small till it get big big big and bigger….
Start from a scratch to finish.
In the nearest future you will find yourself at the Apex.
Every Entrepreneurs is a big dreamer, dream big and think big.
Enthusiasm, focus and determination is my driving tools.