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Mind your Business
http://businessworldng.com/web/articles/1736/1/Mind-your-Business/Page1.html
By Osuolale Akande
Published on January 3rd, 2011
 
Businesses, either profit or non-profit oriented need a high level of nurture for it to grow in stature and there are no cogent area where that needed to be nurture more than the environment in which organization is going to be situated, the people that are going to man various key areas of the organization and the resources that will be needed to make a success of the organization and actualize the visions of the promoters.

Background
Businesses, either profit or non-profit oriented need a high level of nurture for it to grow in stature and there are no cogent area where that needed to be nurture more than the environment in which organization is going to be situated, the people that are going to man various key areas of the organization and the resources that will be needed to make a success of the organization and actualize the visions of the promoters. Minding a business requires paying attention to those things that will add value to the offerings of the organization through effective use of all the three things earlier mentioned and putting a strategy that will not only be in tandem with the vision of the organization in place but also allow for synergy between the environment, the resources and the people that will make it work.
Firstly, minding a business  require that the organization identify a potential need of a customer  but it goes beyond  satisfying customers need as the expected value that an organization desire in other to be in operation for a long time must be fully met by the customer that it is having his/her needs fulfilled. Also the quality of the products, the process of its presentation, the area of interface with customers and the other dynamics of the market are other areas that must be critically analysed. To make this happen there is the need for an organization to be organized properly and have people that can use all its resource very well.
The Tripod Stand
Minding a business can be view from three broad perspective that have been outline earlier but there are some secondary areas that are embedded in this broad categorization, understand the organization, have the resource and putting the right are not enough to make an organization a successful one, many organization have fallen by the way side by not recognizing the fact the secondary areas are the ingredients that fortify the “tripod” and without them will not have a firm root.
Organization 
Among the things that will need to be critically examined and properly set up include how a business is organize, the management style and culture of that organization; the business environment; customers and the value  they will add to the business. No business thrives without the fully understanding how the business will interact with its environment and the full understanding of all that has happen, are happening or will happen in the future. A business must know itself, its competitors and other stakeholders that will have direct and indirect impact upon its progress. The management style and culture that will exist in the organization must be one that will allow for the ingenuity and innovativeness of the personnel to come to the fore, relationship must be developed with  valued customers at their different level of loyalty, after all they are the reason business exist in the first instances.
Resources
Resources are either real or intangible, possessed or the one that an organization may have access to now or in the future, so it may be Capital, Knowledge, Business intelligence, information, technology, manpower  and  time. Roger Palmer et al in their book Managing Marketing describe these resources as “precious commodity when we implement marketing strategy” without them all strategy is to no avail. Understanding that time has an intrinsic value and that technology can leapfrog an organization and shorten the rate of return on investment will make the organization to use both time and technology very well in other to gain the ultimate value. Having information at the fingertips of the people that are the helm of affairs and being able to extrapolate facts, build scenarios and become innovative will set the organization on a well define route to attaining the objectives of the organization and maintaining it over a long period of time.
People
In other to leverage on all the other two areas earlier mentioned the quality of the personnel, their motivation, leadership skills, communication and other people skills must be present. Hard and soft skills are highly essential, Good grades in the different disciplines are good but in the absence of “soft skills” its usefulness will pale into insignificance. All management functions such as planning, coordinating, motivating, organising and controlling all the resources and strategies of the organization are within the custody of the people in the organization, therefore they must not only profess to buy into the vision of the organization they must also be the people that will be seen to be buying into the vision and mission of the organization. In other for those that are in possession of the skills earlier analysed to buy into an organization they must be highly motivated and know that they are well protected, an organization with high turnover of personnel will not stand the test of time.
Round up
Your business is yours only in the beginning but it will become others when the vision become bigger than you, so lay the foundation in such a way that it will be able to stand as an entity even if you are not around.