Business: What a Ugandan learned about competition
What I learned about Competition:
- Reduce your costs of production so that your competition is forced to improve service or go out of business.
- Delegate work to people who can be paid less than what you currently pay your workers.
- Always watch what your competition is doing so that you improve your service offering and keep beating them.
COMPETITION IS HEALTHY. EVERYONE WINS.
Reduce costs of production:
When Luc and I were running our seafood company, we found out that each competitor had a procurement & logistics team. They source products and arrange for transportation.
They also have a licensing or quality assurance department that is in charge of getting all required certificates for all shipments.
They have a sales department.
A team which receives and processes all purchase orders.
A team which sends invoices and ensures the invoices are received and paid on time.
If you need it to be done by a person, hire someone who can do the job but does not need to be paid a lot of money. Technology comes in handy because what can be automated should be automated or make the system so easy even a kid or monkey can use it and make the system be error trapping so that you correct mistakes in time before they cost you money.
Very key to keep an eye on competition. So our competition buys an expensive system to do all certificates electronically and we go ahead and we build our own system for free that we support ourselves and do not have to pay anyone, license the software or pay annual maintenance fees.
MEDIA Houses always have:
Editors to check over all stories and correct errors as well as choose which stories to publish.
Sports writers and editors
Local story writers
Regional story writers (e.g. from EAC and surrounding areas).
Global news writers or reporters.
Business writers, Technology, Entertainment.
How else to do better is get all the above done by very few people whom if you have given the right tools, they can do the job.
OR – automate it all. All regional, sports, entertainment, business, technology…most come from BBC, Reuters, Al Jazeera, VOA, AP, etc. Then why not just have an App that grabs those stories directly and publishes them on your website without any human intervention?
WELCOME TO THE FUTURE. The bright is the future. Do not ever think that you are too big to go down. By the time this is all over, it will not only be Daily Monitor that consolidates and sacks people. Many other media houses will go down for now anyone can report news from anywhere. Why would a Ugandan now pay Sh. 3,500 to buy The Observer when their articles are available on a kathupuli for free?
AND WHAT SALES Department when we can auto push out all stories for free?
Martha Leah Nangalama