Customer Experience with Milambo Mizinga

Customer Experience with Milambo Mizinga Milambo Mizinga is here to help you grow your company by enhancing your customer experience.

TRAITS OF SUCCESSFUL ENTREPRENEURS If you want to start a business you must have the mindset, traits and habits of succe...
06/12/2022

TRAITS OF SUCCESSFUL ENTREPRENEURS

If you want to start a business you must have the mindset, traits and habits of successful entrepreneurs. The beauty of it is you can learn them even if you don't have them now. So let's have a look at the traits you need to start and run a successful business:

1. SERIOUSNESS
Successful business owners take their businesses seriously, it doesn’t matter how small they are. They don’t play with business money. If you go to their store, it doesn’t matter what relationship you share with them you must pay the product you want. They don’t allow anyone to waste their time. If you go to their office and hang around in chatty mode, they will not hesitate to show you to the door so that they can concentrate on their work. This kind of seriousness only comes when you are clear with what you want to achieve.

2. PASSION

Entrepreneurs are basically known for their love for what they do. It's their passion that drives them to get started and keep going when times are hard and conditions unfavourable. Research has shown that 65% of entrepreneurs that achieve success in their endeavours are those driven by their heart rather than the money they make. People who are driven only by money are those that we see jumping from one venture to another, never really settling down to achieve anything significant.

3. DEEP THINKERS

Successful entrepreneurs constantly evaluate their business processes and systems. They think about how they can improve their sales and marketing, their brand recognition and preference, their service delivery and ultimately how they can achieve their next milestone. Plans, strategies and breakthrough solutions often emanate from such moments of deep thinking.

4. RESILIENCE

To succeed in the world of business you must have grit, that is the determination to perform difficult tasks and the ability to persist when things aren't going your way. The question is can you push through without losing your steam? Sir Winston Churchill once said, “Success is the ability to go from one failure to another with no loss of enthusiasm.” Of course you should be learning and improving along the way so that you don’t keep experiencing the same failures.

5. PERSUASION

It is a matter of essence that an entrepreneur must have vision but the most successful entrepreneurs are those who are able to clearly communicate that vision to the necessary stakeholders. In many cases these people do not even have the capital they need to get started or reach their business goals. They are nevertheless able to 'cash in' on their vision because of their ability to get others to see what lies only in their minds.

So there you have it. Strengthen these traits in yourself and you will be able to achieve what the high achievers have been able to accomplish.

Milambo Mizinga – Business and Personal Finance Coach

Pitfalls which cause people not to create wealth Many people take a laissez-faire attitude towards wealth creation, that...
05/12/2022

Pitfalls which cause people not to create wealth

Many people take a laissez-faire attitude towards wealth creation, that's why they don't create it even after many years of work. The following thinking is what keeps many people bound in poverty:

🔹I am still young there's still time. I'll start investing later.

🔹More money will come next month, so even if I spend all this money now, I'll just use my next pay to invest.

🔹Life is short. I should enjoy it now by buying all the food, clothes, gadgets that I want. After all I work hard.

🔹I need to show people that I'm also happening so I'll rent this expensive house and buy this expensive car.

Before you know it the person is at retirement age with zero networth, no assets and no income for the future.

Milambo Mizinga
Business and Personal Finance Coach

They say the customer is king. This is false. The real kings are employees. Here’s why: •The way you treat your employee...
02/12/2022

They say the customer is king. This is false. The real kings are employees. Here’s why:

•The way you treat your employees determines whether your business succeeds or fails. Terrible employee treatment frustrates even the most talented and highly skilled employees. And if your employees are frustrated, your customers are in trouble.

•Dissatisfied employees are rude to customers, they don’t fulfill orders on time, they badmouth the company to outsiders and are absent more than necessary.

•Employees are the ones who deal directly with your customers, therefore they are the ones who can give valuable information about customer satisfaction. What are your customers complaining about? What are they suggesting? Ask your employees.

•High employee turnover frustrates customers. Employers think employees are replaceable. I’ve heard statements like, ‘if you want you can quit, by tomorrow you will be replaced.’ Now have you ever gone to a barber or salon and found that the employee who always attends to you has left? It almost makes you turn around and leave. Now imagine every time you go there, there’s a new person. You don’t even know whether to trust that new person with your hair or not. Next time you end up going somewhere else. This is what happens when employees frequently quit their jobs. Yes you say they are replaceable but your business suffers in the process.

•Customer experience is determined by employee experience. A happy and satisfied employee creates a happy and satisfied customer. This customer will become loyal and do business with you over and over.

So ensuring that employees are well trained, motivated, remunerated is key to your business success.

Milambo Mizinga –Business & Personal Finance Coach

PAINFUL MISTAKES PEOPLE MAKE IN BUSINESS 1. Getting started without a proper understanding of the target market. You hav...
01/12/2022

PAINFUL MISTAKES PEOPLE MAKE IN BUSINESS

1. Getting started without a proper understanding of the target market. You have to know the people you will be selling to, where they are found, what they can afford and what they are currently buying to satisfy their need. Are they rich, middle class or poor? How often do they use social media? Where do they shop? Which shows do they watch on TV? These types of questions help you understand which channel to use for marketing, which location to choose for your outlet and what price point suits them best.

2. Starting without calculating the working capital that will be required to sustain the business before it begins to generate profit. This is why people run out of money and the business is done.

3. Not understanding the risk involved. I can’t count how many people come to me excited about how much they are going to be making in a particular business. They can tell me how much they will make in a day, week or month. But they are unaware of the real cost or risk involved. You have to look at both sides so that you don’t get rude awakenings in the course of your business. Just because business is about taking risks doesn't mean you have to take any risk.

4. Underestimating your competitors. Big or small, competitors have the advantage of brand recognition and customer loyalty because they have been in existence longer than you. Remember that people do business with people they know, like and trust. Therefore, you must have specific strategies of how you are going to pe*****te the market and make the customers switch to your brand.

5. Starting with a loan. It is very dangerous to start a new business on borrowed funds. Loans are often impatient capital, which means that you will need to start paying back as quickly as possible, whether the business has started generating profit or not.
Ensure you don't make these common mistakes, and your business will have a higher chance of thriving. I wish you all the success in the world.

Milambo Mizinga –Business & Personal Finance Coach

THINGS THAT CAUSE PEOPLE NOT TO ACHIEVE THEIR GOALS There are a number of reasons people don't achieve their goals but t...
30/11/2022

THINGS THAT CAUSE PEOPLE NOT TO ACHIEVE THEIR GOALS

There are a number of reasons people don't achieve their goals but the mains ones are:

•Chasing too many goals. Yes we all have plenty of desires of things we would like to achieve. But it actually takes self-discipline to not pursue all your dreams, goals, ideas and desires at the same time. Choose what you will start will then what you will follow with. Trying to get everything done at once is the reason people waste time, money and energy.

•Overly focusing on other people’s lives. Stop getting so anxious about those who have gone before you, the things they have achieved and what they are doing. It is good to use them as inspiration but remember that you have your on journey. Don’t unconsciously get into competition with them, only focus on doing better than your best.

•Setting unrealistic time frames. Just because you thought of it in 2021 does not mean it can all be achieved this year. You should be able to apportion correct time for each goal. Some goals can only be achieved in a period of 3 years or 5 or 7... It's good to be optimistic but you must be realistic as well. So set a realistic time frame for each goal.

•Being inconsistent. It's not how much you do once in a while that matters, it's how often you do it. If you plant seeds in the garden and pour a drum of water then walk away, you won't get a harvest. But if you pour a bucket of water every single day for a good period of time you will get a bountiful harvest. So be consistent in your pursuit.

•Giving up when it gets hard. You can never achieve a goal you have given up on. There are several reasons people give up but the main one is failure. Now here is the thing, if everyone in the world gave up after failure, no one would ever achieve anything. Before you achieve any significant success you first go through failure, you do things wrongly and end up with unwanted results which often cost you money (in business). Use the lessons from those experiences and you will thrive.

I wish you all the success in the world.
Milambo Mizinga – Business & Personal Finance Coach

Universal Law of Wealth Creation: The Law of Problem Solving Everyone was born to solve a problem. When you find the pro...
29/11/2022

Universal Law of Wealth Creation: The Law of Problem Solving

Everyone was born to solve a problem. When you find the problem, you’ve found your place of wealth. The world will pay you for the problems you solve. If you’re not making any money ask yourself which problem you are solving.

Even at your place of work, your job solves a problem, otherwise they wouldn’t have hired you. Every entrepreneur who is making money out there is solving a problem, even those businesses which look useless. What determines how you get paid is:

1. How big the problem is
2. How many people experience that problem
3. How frequently they experience it
4. How capable you are of solving that problem
5. How many others are solving that problem

It’s the solution you produce which makes you valuable. Don’t look for money, look for a problem to solve. Joseph solved the problem of famine in an economic crisis and became prime minister.

David solved the problem of Goliath and became king. Make sure you’re solving the right problem, solving it quickly, reliably and consistently. Package your solution attractively and sell it proudly and you will make money.

Milambo Mizinga –Business & Personal Finance Coach

Success is not just about hard work Working hard for many years doesn’t guarantee success. You may be the most hardworki...
28/11/2022

Success is not just about hard work

Working hard for many years doesn’t guarantee success. You may be the most hardworking person on earth yet be the least successful. Yes it’s possible. The world is filled with plenty of hard workers who are not successful. Success is much more than hard work. As one wise man once noted, 'While some people think and think without working, others work and work without thinking.'

What are you doing? Is that the right thing for you to do? How are you doing it? Is that how it should be done? These are the question you need to ask yourself. Our work requires constant review, continuous improvement of skills, and outside assessment. You will never clearly see the label if you’re in the bottle. Everyone needs constructive criticism every now and then to improve on what they do. And much more importantly you need a break. For it is true that you will never do a great job if your job is all you do.

A story is told of a woodcutter who worked for a company for five years but never got a raise. The company hired another man who got a raise within a year! Angry and disappointed in his boss’s biasness he made his complaint known. His boss responded that there was no way he could ever get a raise cutting the same number of trees for five years.

It angered the man because he was hard worker. He rarely took breaks and blistered his palms in an attempt to get the job done. Yet the harder he worked the more dissatisfied he got about not getting a raise.

One day he asked the new employee his secret, and the man responded, "After every tree l cut, l take a break for two minutes and sharpen my axe.” He looked up at him and asked, “When was the last time you sharpened your axe?”

When was the last time you stopped to ask yourself if what you’re doing is making sense? When was the last time you reassessed how to serve your customers better or how you can make more money?

If the ladder you’re climbing is leaning against the wrong wall, it doesn’t matter how quickly or hard you climb it you’ll still end up at the wrong roof. Working hard doesn’t automatically mean progress or success.

UNDERSTANDING BUSINESS TERMS If you’re trying to apply for any kind of business funding you will meet a lot of business ...
26/11/2022

UNDERSTANDING BUSINESS TERMS

If you’re trying to apply for any kind of business funding you will meet a lot of business terminologies which often make the application process feel tougher than it should be.

Therefore, it is important that you familiarize yourself with these terms and see how you can explain your own business using them.

•Business model. The business model answers the question, how will your business make money? So you have to talk about the products or services you will offer, highlight your target customers, expected running costs and revenue to be generated. This shows the potential investor that your business is indeed profitable.

•Value proposition. The value proposition answers the question, why should the customer give you their money? So it highlights the customer’s problem and how your product/service is the solution.

•USP. This stands for unique selling point (or unique selling proposition). What is unique or different about your business, product or service? The USP communicates a specific benefit which your competitors don't offer. This is what makes you stand out in the market place. Don’t just be different for the sake of being different. You must be different in a way that benefits the customer. This is where your brand message is going to be crafted from. You could be the cheapest, the fastest, the only ones offering after sales service, the most durable etc.

•Revenue model. While the Business Model describes the general operation of the business, the Revenue Model describes how a company generates revenue from the value it has generated for customers. Therefore the Revenue Model is an important component of the business model. It simply answers the question, what are the revenue streams for your business?

•Break even. What will it take for the business to recover its capital? How many units do you have to sell? How many customers do you need to have? This helps in your strategy formulation because any number below this would mean the company is failing or has failed to get back the money it invested.
Next time we will look at cash flow, gross profit margin, elevator pitch, business mission, business vision. Until then familiarize yourself with these terms so that you can learn to raise capital for your business.

I wish you all the success in the world.
Milambo Mizinga –Business & Personal Finance Coach

HOW TO TELL IF YOUR BUSINESS IDEA IS GOOD We speak a lot about generating great business ideas but seldom do we explain ...
25/11/2022

HOW TO TELL IF YOUR BUSINESS IDEA IS GOOD

We speak a lot about generating great business ideas but seldom do we explain what that truly entails. So if you're thinking about starting a business or probably are in business already and are wondering if you've made the right choice, please consider the following:

1. SUITABILITY. Is it suited for your strength, passion or expertise? Sure you will get better with time, but you'll have a greater advantage if you get into business which is suited for your strength, passion, experience and expertise. This is why you find two people doing the same business in the same environment, one is wildly successful and the other is struggling. It means one is well suited to the business while the other is not.

2. DEMAND. Is there demand for what you're offering? Is there someone out there who is willing to pay for your product/service? No demand means no sales and you know that would mean no revenue. So it’s important to check if there is demand, and if this demand is sufficient to actually sustain a business.

3. PROFITABILITY. Is it profitable? Everything involved from creating to delivering your product/service to your customer will cost you, but the revenue you make from it should exceed the cost for it to be worth your while.

With that you can begin crossing off some ideas which may not be as good as they seemed.

I wish you all the success in the world.

Milambo Mizinga – Business & Personal Finance Coach

Rules of Investment 1. Invest in things which will preserve your capital. Your first priority before returns is preserv...
24/11/2022

Rules of Investment

1. Invest in things which will preserve your capital. Your first priority before returns is preserving your capital/principal.

2. Invest in things which will grow money. This means your investment should be profitable otherwise it's not worth your time.

3. Always reinvest a percentage of your profit/returns back into your business/project to grow it. This is the only way it will grow.

4. Only invest in things you understand or under the guidance of experts in that area. Guidance will help you understand the best project for you.

5. Understand the risk involved. Every investment has risk attached to it, therefore it's important to understand what could possibly go wrong so that you can prepare for it to ensure it doesn't happen.

6. Patience pays. Your money won't increase overnight but will grow steadily over a period of time. So you need to be patient.

7. Do not invest in ponzi schemes in an attempt to multiply your money fast.

8. People don't grow rich through savings but through investment. How often do you discuss investment options with your circle of friends? Think about this.

I wish you all the success in the world.

Milambo Mizinga- Business and Financial Consultant

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Lusaka
10101

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Monday 09:00 - 17:00
Tuesday 09:00 - 17:00
Wednesday 09:00 - 17:00
Thursday 09:00 - 17:00
Friday 09:00 - 17:00
Saturday 09:00 - 17:00

Telephone

+260978458489

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