HOW TO BE COST-EFFECTIVE By Robert Bake Tumuhaise (Saturday Vision, 14/0913) Whenever I’m training clients in Project/Business Planning at WORLD OF INSPIRATION, I always insist on the principle of cost-effectiveness by minimizing costs while maximizing the accruing value. Being cost-effective means spending only when and where you must and also limiting your expenditure to the minimum at which you can get that value. This principle helps not only organizations, but also to individuals. For instance unless I am on a rush, why should I spend 5,000 shillings on a boda boda for a distance that I can walk or spend 1,000 shillings in a taxi? I’ve seen people take their children to posh schools where they pay over 2 million shillings a term while the children of their counterparts attending ordinary schools performed better and came out more disciplined. There are people who rent cheaper accommodation far from the road only to find they have to spend daily on boda boda from home to where they can get a taxi and vice versa. In the end you find it wasn’t a saving but a loss. One of the killers of cost-effectiveness is the need to show off. I’ve seen people spend millions on bridal cars only for many guests to attend the wedding and not notice which type of car the entourage came in! I don’t think I can differentiate, by mere looking, a suit of 2 million shillings from that of 200,000 shillings. Some people take loans to buy posh cars only for the people they were supposed to impress not to know that those cars cost a lot. Recently I advised a top bank manager to employ more tellers other than lose customers because of unbearable lines. My reasoning was that the loss the bank will avoid by employing one additional teller is certainly more than the 700,000 shillings it will spend on him/her. The manager smiled and told me: “Robert, you have been in business for only 8 years, but with such thinking, you will become a billionaire.” Well, I want to become a billionaire and that’s why I want to learn as much as I can about business and investment. And this brings me to the good news I have for you. The coming AUTHORS’ FORUM, which is slated for Wednesday 2nd Oct, 5:30pm to 8:30pm, at the National Theatre, is going to focus on the theme ‘UNVEILING INVESTMENT OPPORTUNITIES IN UGANDA’. The guest speakers are Stephen Asiimwe (CEO, Business Week) and Gaude Basaza (Chairperson, Uganda Women Enterpreneurs). I recently interacted with these two figures, OMG; they have the knowledge, wisdom and experience to make you realize that even by merely turning to your left or right there’s an opportunity to make money. Tell your relatives, friends, enemies, colleagues, neighbours and any other person who crosses your way not to miss this AUTHORS’ FORUM GATHERING OF 400 SUCCESS MINDS. As usual, an entry ticket goes for 20,000 UGX (but from now till Saturday 20th we are giving a discount of 5,000 UGX). Come to WORLD OF INSPIRATION (Luwum Street – MM Plaza T33) and secure your ticket or call Leah (0700487768) or Winnie 0774107287) to have it delivered to you at no additional fee. In the meantime, for subscribed members, note that this coming week we shall be running free trainings in Public Speaking, Proposal Writing, Customer Relationship Management, The Art of Selling, Authorship Skills and Project/Business Planning. Get in touch with us to book attendance. Stay inspired and blessed!
Posted on: Sat, 14 Sep 2013 14:00:17 +0000
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