CHALLENGES Dr. Abdi Mohamed CEO Ladnan Hospital

WHEN TO QUIT YOUR DAY JOB The day you make the decision to start a business and put the finances and all the necessary steps is the day you quit. You don’t run your business part time and run someone else’s business fulltime.

PICKING THE RIGHT LOCATION Location, location, location. The location of your business will be your biggest headache but once you secure then you are good to go. Factors to consider: a)Proximity to your target customers. b)Availability of labour supply.

HIRING EMPLOYEES These are the people who will make or break your company. They are your biggest asset. You need to sell your vision and they have to believe in you. So you are not just an employer but teacher, motivator and cheque writer. So you have to pick wisely not employ your relatives from Ushago. No, that is a recipe for disaster.

WHAT SERVICE TO OFFER Ask your self, what is missing in the market? If you answer that question, then you are in business as an industry leader. This does not mean that you discover Facebook, or introduce a new technology. It could be a simple event like starting a service which people need but have to go a long distance.

BUILDING REPUTATION Be truthful always to your clients, employees, partners and suppliers. It takes a long journey but start on the right note. Short cuts are for tenderpreneurs not a professional service provision company.

MANAGING CASH FLOW Cash is king for every business. ‘Turnover is vanity, profit is sanity but cash is king’ You pay bills out of cash, not profit and so it is very important that businesses understand and carefully manage their working capital requirements (i.e. day to day funding needs). In our set up insurances are the main business partners of hospitals, so you need to find a way of working with them.

Thank You.