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SMART BUSINESS 101: THE 10 CRACK COMMANDMENTS ACCORDING TO NOTORIOUS B.I.G

The rules of business

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*** This article gained inspiration from an unlikely source,
Christopher Wallace, widely known as Notorious B.I.G, a street smart
crack cocaine dealer who at the tender age of 12 enrolled in the
school of hard-knocks located on the streets and alleys of Brooklyn,
New York City, but later became an internationally renowned rap
artiste. His life was prematurely cut short by unknown assailants in a
murder case still unsolved.
Biggie, as he was called by his fans, was not as famous for his business
acumen as he was for his mafia-don persona and loose, easy flow rap
skills. However, the lyrics of his critically acclaimed song Ten Crack
Commandments from his sophomore album, Life After Death, exposes the
mind of a man who knows the intricacies of competitive business
strategy outside the four-walls of a MBA class.
For some of you who might be interested in starting a small business,
and acquiring knowledge on general business survival strategy, these
set of rules, or commandments, as he chose to call them, wouldn’t hurt
your personal development or business aspirations.
Now, please read carefully through the rules and read my thoughts (in
plain language) as it explains how it relates to honing your basic
business skills.
“NEVER LET NO ONE KNOW HOW MUCH DOUGH YOU HOLD.”
A wise man once told me I must never let friends or foe believe I am
ordinary. Always keep that extra exclusive. You will be
unceremoniously demystified the moment your competitors get wind of
the firepower (or not) in your financial, creative, tactical, or
strategic arsenal.
In other words, always keep the competition guessing, it gives you the
leeway to manoeuvre when things get tight.
“NEVER LET ‘EM KNOW YOUR NEXT MOVE.”
This rule is related mainly to your business strategy, letting
competition to know your next move allows them to checkmate the move.
If they are caught unawares (as they normally should) it would take a
while for them to adjust to the new realities.
Your next move might be a change in pricing, product, branding,
processes, staffing, supply, mergers & acquisitions, marketing
strategy etc.
“NEVER TRUST NOBODY.”
A number of us have heard stories, or even personally experienced
intellectual property theft in one form or the other. Experiences like
you submitting proposals for a planned project, it gets rejected, and
you end up seeing the project come out not unlike your proposal?
Hmmmn, something smells fishy, innit?
Be carefully selective of what you teach/show your
employees/protege/or even partners in business, if they know
everything you know, why do they need you? What has been learnt can
easily be taken somewhere else for better remuneration, or even used
by disgruntled employees to grudgingly run your fledgling business
down.
So, according to Biggie, a little paranoia won’t hurt, you can’t say
he never warned you.
“NEVER GET HIGH ON YOUR OWN SUPPLY.”
ALWAYS separate the business from the individual. I cannot emphasize
this enough. Many businessmen have made the mistake of not properly
drawing a bold chalk-line between the two.
As a small business owner, pay yourself a reasonable salary (so, what
if you own the business! *rme*). Be disciplined enough to
differentiate between office incomes, expenditures, and profits as
opposed to personal incomes and expenditure. Some entrepreneurs even
receive funding for their businesses and go on to spend the profits on
unrelated issues without servicing their debts. The fact that you can
doesn’t mean you should. I daresay the survival of your business rests
substantially on rule number 4.
“NEVER SELL NO CRACK WHERE YOU REST AT.”
How many of you have seen the sign “Businesses grow when family and
friends pay on time” pasted on business premises? You have? It’s true.
Start your business by teaching your family and friends to respect the
line between business and relationship. The only junction these two
both meet is customer service.
If possible (I know this is dubious, but it works), let everyone
(including yourself, if possible) believe you don’t have the last say
concerning the business. Pretend the buck doesn’t stop on your table.
By Isi Esene @iDova

About the author

Omojuwa

In the beginning...Let there be Light http://en.wikipedia.org/wiki/Japheth_J._Omojuwa

3 Comments

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