An insightful interview detailing the pros and cons of starting-up an institution/business. LugisaniNefale, the Pastor of Trinity Impact Church provides us with a behind the scenes account of the trails and issues of opening up a start-up institution. The issues discussed is applicable to any start-up company or someone who wants to take on a new challenge but have difficulties doing so. Below are experiences shared by Pastor Nefale:
The right time to start a venture, starting lean, your team: There is no perfect time to start something. It’s not about the right time to start but being the right ‘me’ to start. We must focus on the character, knowledge, experience, network, communication skills, accreditation needed before the start of a venture. The principle theory from a church perspective, is to embrace humble beginnings, Its okay to start in a smaller venue or lower level of marketing activities to avoid spending capital that you would need at a later stage in the business. Everything great started small at one stage, even the greatest leaders where babies at some stage. Don’t suffocate the organisation with a lot of purchases of ‘good things’ that you may find value added but are in fact trimmings for the start-up company – The more money you spend, the less capital you have. Building a team with limited resources is possible if the company has a great vision, and the right leader is in place, a leader with the correct traits and abilities the fundamental tools and aspects required to ensure a successful start-up is running lean. Ensure that your company is aligned to the company vision and having a good financial strategy.
Suppliers working with them and the prospect of firing them when the need arises:
Working with suppliers from a start-up perspective is challenging, enjoyable and interesting. The most important aspect when dealing with suppliers are following-up on orders. Ensure that this is done continuously. As a start-up it is common to let go of suppliers as this is the teething process of your business. You will need to know why you are keeping the supplier, and what you are keeping the supplier for.
Mentorship and keeping the vision alive: Having a mentor to help with your business is crucial for any start-up business/institution. This is very important however with the help of a mentor you will need to have a teachable spirit and having the right attitude is crucial. Maintaining the vision of the organisation is important and a gradual process. Don’t be in a rush for the great rewards, face the challenges and issues that arises as these are the early days, the gradual start. This is a journey, the starting place will not be the same as the end place – Begin with the end in mind. The leader and the vision of the company needs to be in synergy.
Challenge for the week: Remember that what is not used will be lost. Any spear or blade that is not sharpened becomes blunt, if you do put your idea or gift into action. The challenge posed for this week or from the time you start listening to this podcast within 7 days is answering a very simple yet challenging question “what is my legacy or contribution to humanity. What do I want to be read in my obituary in the end?”
Recommended book of the week: The art of leadership by Bishop Dag Heward-Mills