Starting a business is always risky, and success is never guaranteed. Yet, entrepreneurs thrive every day. Although there is no one-size-fits-all approach, successful entrepreneurs seem to share several traits that the rest of the pack lacks.
SCORE, a nonprofit organization aimed at helping small businesses, recently released their infographic on what makes today’s entrepreneurs successful. To thrive, entrepreneurs need professional experience, a business plan, the right personality and mentors, SCORE found.
Professional experience gives entrepreneurs the edge they need to make wise business decisions. Entrepreneurs with a track record of success are two-and-a-half times more likely to raise more money, 3.6 times more likely to see better user growth, and 52% less likely to scale prematurely, the infographic revealed.
A Business Plan
Taking the time to write a business plan not only gives your business direction, it also improves your odds. Companies with a business plan see nearly twice the success as those without one, SCORE found. Those companies that create business plans also see higher business growth and are more likely to secure capital and loans.
Think you can succeed as an entrepreneur just by being you? If you’re overly aggressive and unapproachable, think again. The most successful entrepreneurs are beaming with positive traits, such as openness and agreeableness. The least desirable traits include narcissism, making excuses and emotional instability. Also, while being aggressive can often work to your advantage, entrepreneurs need to kick the bad habit of predatory aggressiveness if they want to be successful, SCORE found.
New businesses shouldn’t have to go at it alone. The most successful business owners have relied on some form of mentorship to provide guidance and keep them on the right track. Entrepreneurs who work with mentors are three times more likely to start a business, seven times more likely to raise investment money, and three and a half times more likely to grow demand for their product, the infographic shows. They are also more likely to thrive; although many businesses fail within their first year, 84% of ventures that work with mentors are still in business after one to two years.
Uganda Breweries partners with Kabaka Foundation to construct sanitation facilities in city markets
By Our Reporter
In a bid to improve the sanitation and hygiene that are health concerns in Kampala markets, Uganda Breweries Limited has launched a sanitation project that will see the brewery construct modern public sanitation facilities for the residents and traders of Nakulabye, Katwe, Mengo and Mulago Markets.
The project dubbed the “Kampala City Markets water and Sanitation” has been done in partnership with the Kabaka Foundation, which is an NGO presided over by His Majesty the Kabaka of Buganda. The 3 months project which is part of UBL’s “Water of Life” initiative will cost UGX 300 Million and will benefit over 26,000 people.
Under this project, each Market will get a modern sanitation facility with eights units; a toilet for people with disabilities, a washroom for men and women, three urinal bowls for men, one shared attendants room, a water reservoir of 5000 liters, a 1000 liter over- head tank and a water pump.
Speaking during the ground breaking ceremony at Nakulabye Market, Uganda Breweries Managing Director Mark Ocitti said, “Access to clean sanitation facilities is critical to the health and prosperity of our communities, and yet, too many people especially in the markets around the city do not have access to these basic services. Uganda Breweries is proud to partner with the Kabaka Foundation to reform and improve the lives of more than 26,000 people who live and work around these markets.”
Ocitti noted that this project is not the first done in partnership with the Buganda Kingdom. “UBL and the Kingdom have a long standing partnership to brew Ngule beer, the Kingdoms official beer. The beer is made from cassava and sorghum all of which are sourced locally from Buganda Kingdom.”
In his remarks, Owekitibwa Chris Bwanika, a Trustee in the Kabaka Foundation said, “This project marks another milestone in achieving Kabaka foundation’s aim of improving sanitation. Kampala city markets have dilapidated sanitation facilities and with the construction of these new facilities, we will now be able to address the problem of poor sanitation and the consequent spread of diseases among the residents, especially the children.”
Uganda Breweries Limited has in the past years run similar projects. In 2017, the company constructed public sanitation facilities worth UGX 300 million at Port Bell and Kirombe markets. The project benefits over 12,000 residents, traders and visitors to the two areas. UBL has also previously constructed sanitation facilities in Ggaba market and Kinawataka market.
Sheraton hosts Muslim community to iftar dinner
By Our Reporter
Sheraton Kampala Hotel treated the Muslim community to iftar dinner as they broke their fast on Thursday evening. The dinner was held to thank their Muslim partners, clients and guests for the continued support to the hotel and to also wish them blessings during this holy month of Ramadan.
The dinner was a blend of Middle Eastern and Ugandan cuisine consisting of special and customized meals of starter, salads, condiments & dressing, soups, main course, carving, dessert and a variety of drinks.
While addressing the guests during the dinner, the General Manager, Sheraton Kampala Hotel, Jean-Philippe Bittencourt encouraged the Muslims to keep up with the good spirit of brotherhood as they observe this Ramadan. He further thanked them for the immeasurable support to the Sheraton hotel and encouraged them to work as a team for peace and unity to be realized.
“To observe, this holy month, the hotel has set aside a special prayer place where our employees, guests and customers can say their prayer and break their fast. We have a designated area at the Victoria Restaurant where they can have a lavish buffet as they break their fast from Monday to Saturday,” Mr. Jean Philippe Bittencourt further noted.
Ramadan is the ninth month of the Islamic calendar and, is observed by Muslims worldwide as a month of fasting to commemorate the first revelation of the Quran to Muhammad, according to Islamic belief. Muslims are expected to put more effort into following the teachings of Islam with the fast beginning at dawn and ending at set.
Sheraton hotel during this holy month of Ramadan has special daily Iftar menu packages for individuals, families, groups and companies hosting their Muslim clients or customers to a special dinner.
V-Power weekend is back
By Our Reporter
“V-Power Weekend”, a promotion that allows customers to purchase Shell V-Power at the same price as regular fuel, is back.
Launched in March this year, the promotion is open to all Shell customers and is available at over 80 Shell stations countrywide. The offer runs for the entire weekend starting Friday morning to Sunday evening.
“This promotional offer is aimed at getting car owners to try the advanced fuel formulation and experience the thrilling power and performance of our premium fuel Shell V-Power,” said Emmanuel Ssebunya, Brand Manager Fuels at Vivo Energy Uganda. “Shell’s new fuels contain exclusive DYNAFLEX Technology which helps clean and protect key components in vehicle engines, reduces friction between the piston and cylinder wall, reduces possibility of engine knock leading to better engine efficiency and performance.”
The V-Power Weekend offer will run every month till December 2019 to give as many motorists as possible an opportunity to experience Shell premium fuels.
“Whatever car you drive, wherever you are going, visit a Shell station to get a full tank of Premium Shell V-Power at the price of regular fuel and GO WELL,” he added.
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