The elements of a good business

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BY WACEKE NDUATI OMANGA

If I asked you to name good businesses, you are likely to point out big companies like Apple, Coca Cola, Bidco, Safaricom, etc. These may be great companies but it’s not all about size. If recent events have shown us anything, it’s that size is not all it takes. We have witnessed profitable financial institutions let down clients with bad governance. So declaring profits is not all it takes to be good. We have read the reports on the status of our national carrier. So doing well is not just about expansion and scaling.

Many times being a big business and being a good business have nothing to do with each other. Making money (for a while) is also not the only factor. I have seen several small businesses that are indeed great but don’t think so because they are ‘small’. SME’s walk around with an inferiority complex because size and money are what many people look at as the benchmark. Those are important but they are not the only measure.

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