THE JOSEPH STRATEGY OF ENTERPRISE DEVELOPMENT AND VALUE CREATION

THE JOSEPH STRATEGY OF ENTERPRISE DEVELOPMENT AND VALUE CREATION

I hope you haven’t heard this before;

The story was told of a certain man, a body builder by training; stout and strong on whom hard times had befallen, he had gone job hunting and did stumble on an advert; “Well Built Man Wanted”. The notice was outside the gate of a local zoo, the man thinking that perhaps they needed a hand to lift things and stuffs entered and sought for the job, to his utter surprise he was asked in strict confidence to play the role of a large monkey, the management explained that some children were expected and the zoo had just lost its prized monkey. It wouldn’t be nice to disappoint the children; wonderful kids!

The man for no better option agreed to do the job, after all the economic meltdown is here, The next day met him swinging from pole to pole in his monkey suit to the delight of the children who offered peanuts and bananas, By midday he probably got tired of the poles or the bananas got the better of him and the next thing our hero accidentally slipped and fell into the nearby lion’s cage! “Help, Help!” He screamed as the very big lion majestically approached him and to his greatest horror and relief whispered “you had better shut up or we will both lose our jobs”!

               

Though this story is a fictitious one, it rings true and home. Perhaps you identify with someone  in the story but the issues are real. These are difficult times and there is a lot of monkey suits in town,  a colleague of mine offered an opinion one day, He said “the world is a vicious cycle where everybody is conning everybody, it depends on what you go home with at the end of the day” and this story aptly describes that scenario. In reality it is so for many individuals and when one finds himself in an ugly situation and screams for help, it is only to discover that the very person he is calling on is a bigger tougher fake probably employed by another fake organization.

If you found yourself in this story, then the discovery is a great one and probably the first step to suit dumping. The world economy on a macro scale is a game and few people know how deliberate it is, the house of cards has crashed and rebuilt itself many times and I doubt if you want to build something that will crash tomorrow. Most folks do so for no better option, truth is there is a better option and it is a sad thing my colleague believed what he said.

We are going to be discussing one of the basic strategies and postures for creating immense value as an entrepreneur or corporate executive and avoiding the pitfalls that has become the hallmark of today’s market places.

I will tell you another story;

You might have met Ken, he is one of those very passionate individuals. Though most folks were passionate like Ken unlike him they have “grown up” and stopped “dreaming”. Ken worked in a public institution where he believed his potential will be met. He loved estate development and construction and during his years in school Ken had unlike most of his colleagues fashioned concepts and patterns of how social infrastructures could be avenues of socio-economic development, the lectures at school proved his theories right. Even Ken’s lecturers agreed with his posits but many believed he would soon find out what “reality’ looks like. After school he kept reading up on several new concepts and strategies for driving social and economic change via his chosen career.

A few months after the mandatory youth service corps, Ken had been “very very “ lucky to get a job in one particular public institution, though he would have preferred a position with a private firm but the kind of firms he had in mind where virtually nonexistent. His passion was a little “exerting” to some but Ken didn’t mind, His wife once said she married him for that particular quality and to Ken, that was enough.

Six months into the job, Ken found out what a lot know but few worry about; his job was of little influence. Undeterred Ken had started making wonderful suggestions to management to make the place more fruitful, he was appreciated, told off and sometimes even sneered for his “outspoken nature”. Majority told him his suggestions were not new and Ken wondered why little could be done with massive potentials. Ken was discouraged but the voice within didn’t stop and so Ken didn’t, though there were more than enough opposition at the office and he had fallen out of favor with some ‘kingpins”. He kept praying for the management and as a release he took to writing, he wrote in various periodicals and dailies. His were not write-ups of complains and woes but rather one born of insight, he analyzed scenarios and presented solutions. At first his ideas appeared ordinary but few saw the insights his works bore, his efforts were those born of compassion and spirituality.

One day, like in all cases for prepared folks his break came. A new management was in place and Ken’s “proposals” became the agendas at management meetings though Ken never made it to any of those meetings. The truth was nobody cared to mention his name and for those that knew, it would be unwise to say so, after all office politics is serious business.

Ken’s joy was that development was happening and value was created. A few years later, a private firm that executed some of the jobs that Ken’s proposals initiated was looking for  a senior staff and Ken’s name somehow came up. Ken was over qualified for the job, he had among other things gotten a post graduate training in business management.

The salary was  twice his current pay now as a senior staff and it still would have made economic sense even if it was lower as the management had a fantastic bonus package and everybody knew he would deliver. Ken could already imagine the smile on his wife’s face as he shared the news though inside him he was a little trouble. Something told him that staying  back with the public institution might yield greater value. His Boss at the public firm determined not to lose his “best staff” designed an “emergency foreign course” for Ken. Ken chose to stay for at least an additional three years with the public firm while praying that the next management after the present one continues with the same drive. The private firm knew Ken was their man and being more flexible arranged for a consultancy position with their company, the needs of the firm didn’t breach the confidentiality details of Ken’s public employment and Ken’s wife had something to smile about. The monthly retainer for his consultancy service was just a little below his current salary.

Coming back from the training, he was assigned to head one of the committees that would execute another of his “brain child”, he was the most junior staff in the team but he enjoyed the respect of the team.  Ken had retained his amiable nature and unsullied character even though everyone knew the Head of that organization dotted on him. His free spirit and ability to stay agreeable even in disagreement was an asset at committee meetings.

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Question; have you met Ken or you know someone who would have been Ken.

What is the Joseph Strategy

I believe by now you would have begun to get an idea  of what I am talking about,

THE JOSEPH STRATEGY

The Joseph strategy is a business development or value generating principle at the work or market place that essentially includes the free provision of a valuable idea, good or service to a recipient.

In the story we shared, Ken was able to display this strategy in his work place, It is not enough to predict, unravel or understand the root cause, timeline and perhaps obvious consequences of a problem without the ability to propose a solution.

Such propositions must be backed with capacity and the willingness for an effective implementation. The change agent/entrepreneur in this case must also show evidence of such capacity. Such an evidence could be in the form of a job resume detailing the individual’s experience and competencies, a company profile citing the relevant experience or qualifications; the character and experience of the individuals on the company’s board of directors should also reflect such capacity. However,  in the absence of such the change agent should be equally as bold for there is always a first time.

This is the easiest way to get a job or a new client, find a future, present or unrealized problem/capacity and come up with a pragmatic options that makes the most of the situation. Every business arena is in dire need of factors like; increased profits,  market Share, Good will. Share price, and a better brand image. They are also much more disposed to honor anyone that provides these whether from within their ranks or from the outside. The nature and amount of the honor however depends on the nature of the organizations and their evaluation of the value offered.

A public organization would offer consultation fees, honorable words, awards of merits, contracts and in most cases employment opportunities for individuals or organizations that create such value.

A private firm is more poised to give immediate financial benefits like bonuses, promotions, fees and contracts. The reward need not be immediate or of material significance but there is always an exchange when value is provided.

It is the responsibility of the entrepreneur to begin to dispense this value packages and in the process determine their market value and also create the appropriate vehicles for appropriating this rewards.

The design of this vehicle is vitally important, like Ken in our story, a vehicle could be a private consultancy position or a more organized firm. He might however choose to allow things shape up for themselves, an entrepreneur however must design this vehicle himself.

For example, if you offer great business ideas to a private firm they might offer you a job position, if you made the proposal as an individual. If you make the same proposal as a registered business with a board and all the necessary business structures, you’ll likely get a deal. i.e. a contractual venture option. If you offer the same idea to a venture capitalist or a business angel, you will likely get an investment.

The same proposal however could raise eyebrows when you offer it to your family members!

So, the same business proposal would yield different rewards in different scenarios and each scenario demands a different presentation.

It is important to start dispensing of these packages early, first to commoners for free then one day to those that matters while you learn fast along the way.

AS AN ENTRY TOOL

This allows for an entry into a new industry. Microsoft Windows was at first offered free to the market and today we are paying for it. I do not believe Bill Gates planned to become a billionaire with that step, he just knew that was the way to enter the market.

After an entry, character; i.e. consistent performance would be needed to stay in league. And once there is sufficient demand for your product or service, you will notice that a price will be attached to it without too much fuss.

It also is an entry tool for a Job seeker, say you are unemployed and looking for a job, chances are that despite the fact that you are unemployed you still manage to eat three square meals a day. I therefore propose you find a place to offer your skills and services for free.

If you are an accountant, offer to handle the accounts of small businesses for free and do a great job, make the effort relevant to the overall goals of the firm. Find someone that needs your service and offer it free of charge, for starters you’ll be building a resume! Then you are gaining experience, it is like going to school again. It is paying for your education, every business man understands that the early challenges and mistakes of a startup business is like the tuition fee for classes in the market place. It is a practical class though and one that involves a greater degree of innovation, novelty, independence and responsibility. It is here you begin to test your ideas and chances are that if you are good at the work you will find a job or a deal.

VALUE VS SOLUTION

To create value is great but a solution is better. Not all value creation are solution generation, if you live in a metropolitan and I happen to give you a free bicycle, chances are that I have created value but not necessary solved a problem. Though a bicycle is worth something to you, it does not really solve your transportation problem. It won’t make sense riding to work in a bicycle if you lived in Lagos, Nigeria!

In Africa, we have millions of research papers from credible universities and Lectures that have a lot of value-content but very little solution-content. The difference is simply “intentionality”, we don’t chance on change, we drive change with our eyes open and clearly seeing tomorrow.

Thus real value creation is one driven by a commitment to solution identification and maximization.

WHAT TO PROPOSE

You cannot offer what you do not have and there are certain things one is best adapted to having, we have areas of gifting and purpose and it is the duty of everyone to discover this. That gift is your soul’s desire, it is that which you are aware of almost intuitively. It is the “Aha” of your spirit, never trade this soul-ish longings for anything. When we lose this soul-ish longings on the altar of meeting immediate needs, oppositions, hardships, temptations or worldly cares then nothing in the world would satisfy.

With identity comes the responsibility for ownership, protection and development. You do not really own that which you do not understand says Myles Munroe and you can’t offer a legal or mental protection to that which you do not own.

Own your Vision and gifts, it is a protection against the rough tides of the job-place, it will keep you from unemployment and the long queue at social welfare. It is your God-given advantage, master and protect it. A lot of folks would scream if you scratched their cars or even ruffled their well plaid attires but do nothing when you threaten their vision. Your predisposition to protecting your God given Vision and Purpose is the test of character.

The best form of defense is attack, the one talent man in the parable of the talent didn’t know this bit. To increase competence in an area of gifting is an individual responsibility,  like a piece of property given on lease by the government, there is a mandate that the government can revoke the lease if not developed within a given time duration.

Competence development is your responsibility and one, which you may have to overcome great odds to attain. Most great footballers and artists suffered immense tribulations and sacrifice to give attention to this soulish longing. Note that in doing this, they developed something called character.  To achieve development, exposure is critical

Character is a position of constancy brought about by perseverance against tests, it is the mother of hope and hope is what great men and businesses are built of.

When you have hope, you are not ashamed of the circumstances called “today”, because within you is a clear picture of where your gifting is taking you to.

Thus the pattern is this; identity. Ownership, protection and then development.

The Challenge of Development

There is this thing about become who you are that many people fail to achieve and that is a transformation of the mind, we are often adept to remaining as we were. The environment demands conformity, people do not want you to change. They’re most times surprised when you do. One of the greatest challenge at this stage of developing capacity is the uncertainty that such exposure portends, like a butterfly undergoing metarmorphosis one could be accused of having an identity crisis. Don’t mind the externals, stay with your internal scorecards as you learn what works and what doesn’t. it is always easier to run back to old habits, for an entrepreneur that just left the job there is a great temptation to call your former boss. I had to make this a personal saying; “when you sack your boss, never take her back!”. For someone learning the skills your talents require, the challenge of refining what you have might just appear too arduous but stick with it. The price of exposure and transformation can be paid only by you alone. You are like a boxer training muscle in the ring, stay at it, sucker punch and all!

Your gifts however must be organized and offered in such a manner that individuals or organizations would pay maximum premium for it,

Remember, the Joseph Strategy is that you make an offer; your offer.

OFFERING

You may have to at first offer this value-packages of yours for free, I suggest you learn to do these even if you don’t have to. If you are into public speaking, find a crowd, any crowd and talk! Afterwards appreciate them for coming. If like me you are into business or resource development, find those that need your services and get them to listen, show your competence and faithfulness with any given assignment.

In the process you will learn the market position/evaluation of your packages and the best way to present it. This is the time to read massively and develop structures, a famous beautician with a line of cosmetics in Lagos, Nigeria; Tara ………….., began her multi million Naira business by first offering to do free make up for wedding brides in her estate, few people then would agree that someone could pay for a make up! Now it is big business. Most un employed individuals and start up businesses would be amazed at the employment opportunity and client base there is to find with this strategy.

For example, a young accounts graduate could offer to do the accounts of neighboring small businesses for peanuts, in the process he is learning a lot, discovering new problems, contacts and building a resume. A small scale business man can package samples of customized products for his intended market and in the process learn the market evaluation for them. This is important because the field is where muscles are trained, ideas are tested and clarified, theories reformulated and dreams take shape.

One must keep growing, by finding new ways to satisfy and exceed the expectation of your clients/employer you will learn what works and what doesn’t. you will have to device new ways to make them pay adequately for the services rendered.

THE OPRAH WINFREY EXAMPLE

OPRAH built a mighty empire by doing something so little that a lot of people have missed especially in developing nations, the reason why her little strategic step is so vitally important is that paid employment or public services seldom bring out the massive potentials in man especially when under poor leadership

WHAT OPRAH DID.

Oprah Winfrey began her TV career as a  reporter for a radio station WVOL in Nashville, while studying at Tennessee State University. She was probably paid peanuts for this student job but it did grant her entry and experience of the Television industry.

Because of her gifting and competence, At age thirty she had already become a very successful talk show host working for WLS-TV, The Oprah Winfreh Show enjoyed enormous followership.

On meeting Jeff Jacobs, an entertainment lawyer in 1984 she was convinced to set up her own company instead of being a talk show host hired by somebody else.

Harpo inc was established in 1986, with Jeff Jacobs eventually joining in as president. Jeff brought his business acumen to match Oprah’s creativity and intuitiveness.

The point is she built a business around her gift and retained ownership thus her show could be aired on other stations besides those of her former employer, the advert arrangements would differ and she retained intellectual property for the shows. The motivation for delivery was immense and though it wasn’t an easy part, she persevered.

With the independence and motivation, Harpo inc diversified into movies and in 2000 O, The Oprah Magazine was born.  Today, She is the chair of Harpo, Inc,; Harpo Productions; Harpo Studios, Inc,; Harpo Films Inc,; Harpo Print LLC; and Harpo Video, Inc,.

Though she still cannot read a balance sheet, she was able to maximize her gifting and to build a structure that enabled her display amazing creativity.

Question:

Do you know anyone who would have done better with this approach in the entertainment industry or other industries?

Did you notice the progression of events?

Can you read up Bill Gates Biography and relate this story to his?

Can you identify a common thread with yours?

LESSONS FROM THIS STORY

She was probably paid pea nuts for the first job; entry

Competence pays

Continuous learning is key

Ownership is essential if productivity and remuneration are vital statistics

Skills and competence are great, but you need Strategy

Find help where you need it

Be good at what you are gifted to do

COMPONENTS OF THIS STRATEGY

The business arena is a value exchange arena and to make such offerings for free you need to have an abundance mentality, a lot of young people have failed to make this strategic entry simply for their penchant for immediate rewards.

An abundance mentality says there is more from where this is coming and even if I am not paid initially I’m glad to offer value.

COMPASSION

To really maximize your inherent potentials and creative genius there is need you come over to the higher realms of compassion.

At a higher plane, the bedrock of discovery is compassion. Science is a product of sincere inquiry into things men are passionate about. It takes desire to seek, desires are born out of compassion. It could be for a cause,  humanity or for systems but ultimately it is all about people. Some people have limited their compassion-field to themselves and maybe their families, if your compassion-field is limited, so will be the issues that would probably attract your sincere inquiry and hence the number of opportunities you will see.

I do not imply a complaining kind of concern but rather a reasoning concern that is ready to divulge the emotionality of an issue and raise practical pragmatic theories.

e.g. does the economic scenario in your city bother you? In Nigeria, we have a moribund textile industry that could employ more than 500,000 individuals and provide for millions of dependents, every day I see a lot of business potentials in that sector and have been devising strategies for more than 5 years now. My point is that the idea I will come out with at the end of the day is borne from more than 5 years of research, reason and deliberation. I am also in a better shape to utilize any new emerging opportunity that any political or economic wind can bring.

It is a rule that Global/National Interest is a product of National/Global Concern. It is not a surprise that two of the richest men in the world; Bill Gates and Warren Buffet are much concerned about Global issues, I do not think they became concerned because they are big. I believe they became big because they were concerned, resources migrate to individuals with the heart for it.

The vision of Microsoft is to make lives easier for individuals and organizations and sincerely they have.

What bothers you? What do you see on the street and it makes your heart lurch? Those are your concerns. Can you make time for a little inquiry and nature of this stimuli?

Richard Branson of Virgin World said “Business is what you do about the things that bother you”.

Can you attend to your interests? The things that provoke your compassion most times are things you can do something about, most times your capacity to do something about them does not immediately appear but stay with it. Let your spirit brood over them and you will see them begin to take shape in your heart, you would need to research and read up about it and one day you will be surprised to know that you are among the leading thoughts in that area or that you are at full comprehension of the leading thoughts in that area.

Should an opportunity appear on the horizon, these prepared heart has something to say, a proposal to make or a decision to make.

A lot of potentialities have been drowned in the murky and shallow water of selfish interests, I believe this is the biggest limit to innovation. There is a creative genius in man that is hindered by selfishness which is at best myopic and inpatient.

TRAINING

If you are concerned and compassionate, the demand is on you to go to school (study) in your area of concern. Develop competence in that arena, your biggest asset is yourself. Make the most input as possible as you can and when you think you are ready go and test your hands! Offer the first proposal.

Proposals are borne out of an understanding, understanding is a product of insight or wisdom and both are a product of a meditating heart or a studious heart.

THANK YOU VERY MUCH

 Okwonna Nelson