Connect with us

Business

Qualities To Look For in a Business Partner

Inversk Review

Published

on

A business partner is a commercial entity with which another commercial entity or person has some form of alliance, with the sole intention of growing the business into a profit making company. It is a mutual beneficial type of partnership in which both parties benefit in a way or the other. It is therefore, very important to choose the right business partners if you are to realize your dreams and aspiration. People whose focus is on your products/service, customers and your business. The future of your entity lies in the people you choose to partner with and surrounding yourself with the right people at the right time is crucial for hitting milestones. How do you know that you are dealing with the right people ?

A Marketing Guru.

A perfect business partner ought to be very much excellent when it comes to sales and marketing. He must be impressive in his/her sales capabilities and a person with a drive to hit the personal goals set. A person who is ready to get the lead and follow it up till the deal is done. Am talking about that Marketing guru capable of converting doubts into deals, a person who goes out of his comfort zones to ensure that the Marketing objectives set are realized. A guy who knows where a great potential lies and goes for it. A person with complementary and marketing skill sets, aligned on the company vision and equally committed to the company’s success. That is the guy you should be looking for.

A person you shares your vision and aspiration.

It has been proven that finding an associate you can work with and count on week in and week out is no mean feat. Many give up on the way; others just realize later that their interest is not on that type of business, therefore opting out. This might affect you and your business. A brilliant partner is always that guy who shares the same vision and aspirations as you. A person who is very passionate and knowledgeable about the kind of business you are doing. A guy you can lean on  and in the same career or business as you are is preferable the best fit. When looking for a potential business associate, it’s important to find someone who not only shares your vision, but also has the ability to say ‘no’ when you go astray , an individual who is ready to walk with you through the valley of death all the way to heaven, a guy who sees possibilities where lies impossibilities.

Experienced Business partner is an asset.

Your business is bound to make it when you are associated with the right and experienced guys. Persons who have a vast knowledge about your business, great strategies and executions that can steer your entity to even greater heights. Experience is not just the amount of time spent within an industry; it’s also the obtained knowledge, observation and hands-on involvement. The experienced guru, who knows where to strike gold, and when to go for a prey. A guy committed to ensure you succeed in your doings because he knows perfectly how to handle the situation at hand.

Financially stable partner is always a plus for you.

One of the main reason people go into business partnerships is financial security. Having a business partner with a great financial muscles is a problem half solved because it assures you that whenever issues to do with finances arise, you won’t struggle or be forced to look for help from financial institutions, which mostly take time before issuing with loans. This gives you courage and confidence to face the task ahead. This is also an assurance that your associate is up to the task should your entity need finances for expansion, salaries, growth or even Marketing.

A good decision maker and perfect leadership qualities

It’s always super critical to identify a partner that has strengths that are outside of your own strength. A person who makes wise decisions that means well for the business, consulting before taking action, and a motivator to his staff. A good business partner understands the importance of compromise without being too compromising, having the courage to address tough financial issues and even personal matters that might impact the company. A great leader who leads by example and is ready to sacrifice what he has for the benefit of the company. A person whom you can well trust, keeping the companies records and information confidential.

Comment using Facebook

Inversk Live is Kenya's most incisive and informative platform to learn about business news, technology, markets, companies, startups, leadership advise, curated business and industry opinion, and affluent lifestyles.

Continue Reading
Advertisement
Loading...
1 Comment

1 Comment

  1. Avatar

    ปั้มไลค์

    March 5, 2019 at 1:12 am

    I believe you have mentioned some very interesting points, regards for the post. 🙂

You must be logged in to post a comment Login

Leave a Reply

Kenya Today

Fuel Price Soar in the Latest EPRA Review

Kevins Jerameel

Published

on

Energy and Petroleum Regulatory Authority (EPRA) has hiked the fuel prices for one month of November through December. In a statement signed by EPRA Director General Pavel Oimoke on Thursday, a litre of petrol in Nairobi will now cost Sh 110.59 an increase if SG 2.54 while a litre of diesel has risen by Sh 2.65 to retail at Sh 104.61.

Households using kerosene are the hardest hit, in the latest review, kerosene consumers part with Sh 2.98 more for a liter that will cost Sh 104.06.

Kenya’s inflation increased to 5.7% in the month of September from 4.04% the previous month due to increased taxes on petroleum products.

The rate is the highest in 12 months, an indication that the impact of VAT on fuel is sieving into the economy. The price increase which took effect from Thursday night will remain in force till the midnight of December 14.

The rise in fuel proves is attributed to an increase in the landing cost for super petrol by 0.86% from Sh 4,593 per cubic meter last September to Sh 4632 per cubic meter last month while that of diesel increased by 2.08% from Sh 4919 per cubic meter to Sh 4999 cubic meter.

Comment using Facebook

Continue Reading

Markets

Auctions Jump as Mortgage Defaults Hits sh38 Billion

Georgina Korir

Published

on

Default on mortgages jumped 41 percent to Sh38 billion, pointing to widespread distress in the real estate as it is experiencing a slump growth and property auctions pick up.

Latest real estate data from the Central Bank of Kenya (CBK) shows that mortgages shows the industry experienced the biggest hike in non-performing loans (NPLs). Unpaid mortgages increased by Ksh11.2 billion or 41.1 percent, manufacturing by 19 percent, traders by four per cent and personal loans by six percent.

According to the report, 16.9 percent of the Ksh224.8 billion gross loans extended as mortgages were not being serviced at the end of December 2018, up from 12.2 percent in 2017.

“The ratios were above the industry gross NPLs to gross loans ratio of 12.7 percent in December 2018. Deterioration in asset quality was mainly attributed to among other factors; subdued business activities, delayed payments from public and private entities and low uptake of housing and commercial units,” CBK noted.

The real estate industry was dotted with auctions, as the most people who had taken loans on the strength of their pay slips to buy property failed to service them in 2018 and 2019, following the NPLs.

Attributing to a dying economy, which has seen several companies shut, there have been a lot of job cuts in Kenya.

At least 78,400 new formal jobs were created in the economy in 2018 compared to 114,400 in 2017 this, According to the Economic Survey 2019.

Following the interest rate cap which was repealed last week, the banks have also been reluctant to offer loans to individuals and SMEs who are first time borrowers.

As a result, compared with a growth of 23.9 percent in 2015, there was minimal growth in mortgage growth of 0.7 percent last year.

CBK said, “This could be attributed to banks’ review of mortgage terms to offer mortgage loans on increasing credit risk in the real estate sector,”

It is reported that more auctions linked to mortgage defaults were conducted in 2018 compared to 2017.

Comment using Facebook

Continue Reading

Features

Understanding Art Piece Collection Value In The Market

Dennis Kamau

Published

on

You probably have had a trigger of suspense when art is mentioned either in the movies and you wonder how to value them? Well there are a number of factors to consider when valuing an art piece.

Unknown to individuals when it comes to art, is the value that art piece carries on matters concerning the monetary value. The most important factor when valuing an art piece is the artist of the work.

A piece of work that has been produced frequently by an artist will have a high monetary value than an art piece done by a new artist. Also, works that was produced as old art collections have a quite good impression as they tell a story of occurrence of that season and whether it represents their work.

Subject of work may narrow or broaden the market of buyers as more private buyers are purchasing art directly from the artist (primary market). Certain subjects always attract more clientele than others. Like an art piece of a beautiful lady will sell better or the big five animals than a portrait of an old man.

Subjectivity of work is not a factor that is independent but depends on the drive of demand of buyers. If the demand is high the prices increases. The commercial value of art piece depends on collective intentionality similar to currency.

On a different scale, sizes matter where even though the artist may feel that a small size is efficient the buyer perception is different.  Art piece with big size are expensive in the market like a wonderful sculpt that can sit at the backyard of an individual or next to the welcoming door of the house.

The type of materials used in an art piece can greatly increase the price, Leonard Davinci Mona Lisa painting holds the highest value insurance for a paint, its custodian is the museum. Art is being redefined from the beginnings of illusionist painting to complex photography with binary digits and also, sculpture designs. We humans tend to try and tell a story of what the impression an artist had when coming up with an art design.

Comment using Facebook

Continue Reading
Advertisement
Advertisement

Sponsored Content

Loading...

Trending

Copyright © 2019 INVERSK MAGAZINE. Developed by ITIPS