The importance of having building blocks for a speaking business

Caroline Nyamwaya Mwazi (Kenya) spoke at length on the importance of having building blocks for a speaking business. The objectives of the presentation were to help participants to: Assess where you are; Identify the blocks; and use the blocks to create a plan to move the speaking business forward.

She explained that building blocks were important for the following reasons: giving participants clarity of where they are and how to get to where they wish to go; personal and business growth; and obtaining goals.

Caroline led a discussion of the challenges that were brought about by Covid19. These included shock, confusion, fear, panic, and stagnation. She emphasized however, that all participants were to pivot, rise, and thrive using digitization and modified business model. This is essential because otherwise the businesses will remain flat.

She went to emphasize the essence of reflecting on one’s vision, the business’ vision, and why one is in business. Without reflection, a speaker would limit chances of transformation.

Caroline spelt out the five building blocks as follows: you, marketing, operations, people, and finance. You entails self-awareness, personal SWOT, self-leadership, personal branding, life vision, values, motivations, personal growth plan, and business leadership. It includes doing an environmental analysis using the PESTEL model and business SWOT Analysis. These help the business leader to stay alert of what is happening in the environment. Marketing entails knowing the target market, critical success factors, and the marketing mix (product, price, promotion, and place). She borrowed from the purple cow analogy by Seth Godin. Speakers should seek to continuously give customers an outstanding experience. Operations deals with putting the client at the center, make operations to be smooth, understand the 80-20 rule, and ensure quality management. People means that a business is only as good as its people. It does not matter whether it’s virtual, physical, full-time, or part-time people. Think leadership and think empowerment. Finance entails that finance is to be strategy driven, keep good records, watch profitability and cashflows.

Furthermore, Caroline helped the participants to think thorough risk management in business. She concluded the session by encouraging all participants to consider the five building blocks as they strategize for 2022. Participants applauded Caroline for the great presentation, and they asked a number of questions which Caroline responded to excellently.

By Dr. Wilbert Mutoko