Great conversation somewhat different from the usual guests our icon has been treating us with. The ingenous guest selection criteria you adopt Lynn, is top notch. I salute you. You are creative in knowing how to spice up and surprise your fans with unique guest menu that cuts across the societal spectrum. This is what gives you a global appeal Lynn. No discrimination or class favour. That expertise can only be excelled by Lynn our Kenyan Queen. Well, on today's subject, I have few tips to share having worked for top multinationals, run a big company with several employees, run a restaurant and accommodated tenants that were running Butchery and hotel businesses too. My diverse experiences gave me key understanding of what Ann went through and here free to share the causes and remedies too. 1. Stealing by servant is caused by several factors not one: (i) Weak systems (ii) Habitual thieves (iii) Existing loopholes (iv) Absentee or naive business owners (v) Non-payment of salaries/wages (vii) Proprietors unprofessional conduct (vii) uncomensulate salary/ Wages 2. Remedies or deterrents Having stated the causes of stealing, the controls or remedial measures are as follows. (i) Do not start a business if you don't understand the ropes. Do intensive research and prepare a business plan with proper guiding cash flow projections. ii. Every business MUST have a startup capital with atleast 6 months operational funds to develop it. This shall include salaries and contingencies iii. Every business idea is started with a growth projection in mind. As you grow in returns, improve your staff salaries or wages commensurately. Otherwise if the workers realise that their hard work is fattening your bottomline but they themselves are struggling as the economy worsens by day, they start developing ideas on how to steal from you or diverting your clients/customers elsewhere. iv. Cheap is expensive. If you start a business venture, be intentional to employ those that have passion in the same business or have experience on the same. Such employees MUST be properly remunerated and if not, they precariously stand botched at any time from you. A well motivated and properly paid worker cannot steal. V. When running a business that brings in evidential income that employees know but you run short of paying them on time, their monthly bills cause them to start crafting ideas to survive, which ideas start from how they can benefit from within. Suppliers or cash handlers within the institution breeds the easiest ground to manipulate to their advantage. Any idea on securicor transit Heists?? vi. If as an employer, you are fond of misusing or insulting your employees or looking down upon them as they fully commit themselves to deliver on their mandate, they ingeniously craft ways of teaching you a lesson. Stealing from you is one of them. Any idea on how Asians treat Kenyan employees and how much they pay them including penalising them for anything broken/lost?? Having shared my professional and observation tips with you, it's incumbent upon you a business starter to adequately prepare with much consultations before kicking off. Such drawbacks are easy to avoid from the onset than lamenting at the end. Prevention is better than cure. Be blessed guys.
I had opened a shop 3yrs ago and employed my aunt to be running the shop since i was in the college. Our agreement with her were just simple, to always deposit the profits at the end of the day in my account. The first month was ok but as time went by she used to steal money from the sales she had made and order the similar goods from the same suppliers and stock the shop with her goods. She would sell her stock and leave mine on the shelves. The main reason learnt is that if you are a business owner, you always need to be there.
This is what happens ukiandikana kwa smokie-mayai pasua. Mtu unamuajiri mnaaza poa after one month anaanza kuboil mayai zake na ananunua smokie zake anangoja mfungue kazi ukishaenda anaziitisha mahali zimewekwa. Jioni unakuja kupiga hesabu unapata peanuts while mwenye umeandika ameenda na faida yako yote🤦♂️
There's a lot to learn from this show and Ann is teaching everyone that business is business no matter what relationship you have with your employees, everything should be formal
Very true, whether someone gets a salary as equivalent as the hairs on her or his head provided he or she is a thief they'll still steal. Thankyou Lynn for these all round guests, you never ever discriminate is why I love you. Rachel in Uganda
Having been in business for 14yrs now running a sales shop...I have had my employees for over 10yrs but I still found them stealing.I pay them very well including free housing with water and electricity,have been there for them when their kids go to school,when sick I come through for them and many things...but I still found out....they were stealing. Basically what I would say always be there...i have audio cameras all over the shop and incase i am nor there...i review each day or have it live from where I am. Cameras do wonders...more than you being there.
One did not open a business to be spending time in court but to make money. If you have to spend your time in court just because you opened a business with employees who have no sense of integrity, you might just as well close the business. Go into consultancy where you can work solo and still make good money. No employee hustle with dishonesty and stealing.
But I have worked with my boss for good 16 yrs n I have never steal from them , loyalty means alot.what helps me I take that business as mine and am accountable in everything I do.guys when u remember where u come from u can't comprise your daily bread.
She is confident, soft spoken and i like the fact that she speaks from experience which resonates with almost everyone.. We all start up side hustles that end up failing and we ask ourselves where did it all go wrong.. Lovely conversation
Good morning team LNN What is your take home from today's conversation with Anne? You can reach her on TikTok at Unprepared to Entrepreneur Our episode is proudly powered by KINGS DEVELOPERS LIMITED. If you are looking forward to having an apartment, please contact our credible partners for affordable, midrange, and high-end housing. They also have flexible payment plans. Always remember you can be the next homeowner! Visit them at Prism Towers or reach them at (254) (0) 700 090 060 for further details. Email: sales@kingsdevelopers.com Also kindly check their website on www.kingsdevelopers.com for their amazing projects. To share your story with us, send a summary to info@Lnn.digital or Lynn.ngugi@Lnn.digital for consideration. Thank you so much for watching🙏
it is just sad how people bite the finger that feeds them. We are recovering from what we have been going through in the business sector. Employee theft is the biggest enemy of any employer
One did not open a business to be spending time in court but to make money. If you have to spend your time in court just because you opened a business with employees who have no sense of integrity, you might just as well close the business. Go into consultancy where you can work solo and still make good money. No employee hustle with dishonesty and stealing.
My friend has gone up and being brought down 4 times by empoyees over 20years time. My sister quit her job after covid and started taking care of her business and can not imagine b4 and after....
If you have no dream if having a business, and you have completely closed that door in your generations,then go ahead and steal,,but if you steal and happen to have one in future,you will reap what you sowed,,i work with my sister,and i decided to never steal,she may not see,but there is God in heaven who sees everything.
Am here and i just removed one of my employee from my shop ummm she was now starting to sell her products in my shop ,,the same items as mine ,copy my designs, my prices everything I was so heartbroken 💔, I taught her everything so that we can run the business together but am 28 and she was 38 maybe the fact that I was young but I thank God 😢
Losing money in business is painful. I have been there a number of times and I'm now scared of biasharas. I have run a hardware shop, done farming and tenders with people. My last awful experience was early last year when 300k drunk water after a seller sold me faulty computers. Todate, this person has only repaid 130k😢 Once I'm back on my feet, I'll stick to investing in land, my Sacco shares, MMF etc. The rest will be investment on myself; travelling etc. If all the capital I have lost was in a Sacco, that would have been 2.5 million bob and an annual dividend of 300k which I would prefer to invest in something like land in one of the rural counties than try biashara tena. The pain of losing your hard earned capital can kill you!
I just learnt that making employees sign a contract is very important. Also, having rules and policies in place. One of our employees retired and me and my siblings were grappling with many legal issues that could arise like insurance and retirement benefits. We want to do the right thing for our employees, so we're trying to establish something like a retirement package for them after their years of service. We're a very small family business, but we don't want to deny anyone their right.
This is good insight. I closed a restaurant because of employees theft. I really wanted to have a side hustle. I remained repaying the loan i had taken from my salary.
Another lesson learnt.. doing business in a right way..contract, job description, compliance and trusting the process..not greed oriented... Good work Lynn ❤❤❤
As a business owner I'm unlearning bad habits and learning new things, because it's not easy to have a truthful employee but when you get one try as much and appreciate him/her. Will check out the shank tank and the 50th law by 50cent, thank you lynn for this great interview.
I believe its our culture as Kenyans kuiba tu, i don't know wapi people dont steal, i think we should do a sensitization program, ask even a foreigner they know sisi mostly ni wezi, and we have good people as well. Nice one Lynn
@Lynn Ngugi Please consider introducing sub titles in your platform for your international followers. I love your shows but yeey, the language barrier becomes a problem.
For those who stay in imara daima. 😅you know how mzee wa butchery ya nambaz operates. None of employees is paid ukikatiwa nyama the mze is the one who collects cash. Weeeuh now i understand him
Invisible hands in business is very bad me I had a medical center when got pregnant with all the pregnancy hormones I slowed down on tracking my business. The clinician could work on patients and tell them he will bring them medicine at cheaper prices rather than buying from me. He even started doing home service to clients rather than coming at the clinic before I knew it I had lost everything and to make the matter worse he open his clinic right near where mine was
Most employees nowadays are greedy irrespective of how much you pay them especially generation z. I fired 5 unapologetically and now I work for myself. Sitaki sarakasi tena.
I totally agree with you . The ones you trust are the worst. It's not being paid less it's just greed and especially wanting to live above their means.
My advice for anyone who want to resigned and start your own businesses is Work hard on your fortune as part time before u quit the job you're doing Let your current job be the stepping stone toward your fortune
Woooow Lynn every year is coming with great lesson thank you so much God for Lynn and her team including me yes i give my self credit have been here and i will be here for the rest of my life am here to stay oooo❤❤
The idea of acquiring an ongoing business and keeping the current employees was already a red sign. But she was also in a critical situation, having just delivered. I must say my businesses did well with Kambas and Luhya ladies. Before my younger siz took over and that how it died.
An employee told me..she will be selling wigs to me at a cheaper rate from a wholesale shop,i refused because i knew i wouldn't want the same thing to be done to me.........some clients are greedy though...but whatever you sow you shall reap
For instance;in a retail shop you'll realize when you don't have stock and the money is enough yet you've sold everything,some small businesses are hard to realize within a short period ...
I had a timber yard. Stock ilikuwa inaisha (from a full truck) yet the money collected was very little. I learned later that my employee connived with the landlord to steal timber at night. I was informed that a mkokoteni would ferry timber at night to be sold elsewhere 😕 The business collapsed. A few months later, I learned he did the same for someone else and almost got killed. He survived with permanent injuries including broken fingers and a broken hip bone. I hope he reformed.
Here in Canada, every product sold at a store has a barcode on it which accounts for a specific inventory number. The employee has to scan every item before it is sold and there is software that automatically updates that inventory and prints out a report at the end of the day. It is very hard to steal even meat, because those also have barcodes etc. Technology makes stealing hard.
This is very relevant information for any entrepreneur. I suggest we have Makeup by Rose on the bench. She has also gone through the same... If we can hear more of these stories and most importantly, how they have mitigated these challenges. Thank you, Lynn, let's also hear from Makeup by Rose
Guys if you’re doing business in a premises be the first and last person in your business place and spend time in your shop or wateva that way you avoid such cases,some people have businesses but an employee opens up and closes even the cash its the employee handling even restocking.
A thief is always a thief. You have reminded me of a lady we had employed in our business collaborated with guys who called themselves "kanju " shared the token sent by my husband while he was at work with them and shared the information with an employee we had who passed the information to us.
Of course meat losses weight through process loss in the form of mince and cuts as well there is drip loss, but a gain this varies with the type of meat. Chunk steak & beef fillet loss is quite the same and for pork which has a higher drip loss than the beef. You will need a 3 day analysis to come up with the average drip loss which you can quantify as the allowable deviation.
very nice topic..ive faced the same challenges on my small businesses,..actually i am building software solutions on this challenge to counter it.especially on the area of prompt inventory reports, cash balances ,debtors,creditors.. this gives the entrepreneur an audit of general trajectory of the business..actually i came to realize cost accounting/management accounting is my best knowledge base i ever gained from my CPA course,, very valuable and practical
wow wish i saw this before i opened my businesses,imgne pesa yote ya gulf i opened 4 businesses wine and spirit kwanza,alafu makarao hadi kuexchange magari ndio wakuje kuomba pesa yet you have all the documents, and all of them ziliisha within an year kumbe sio mimi pekee.The biggest lesson i leant is never mix family with business kiliniramba,have a system like Anne said so you be quick to sense if things start to go south,never open a business that yourself cant do,feed your business and do 90% work if your serious.Anyways i learnt money lessons and next time am wiser.
This happened to me with my butchery business too.. nilioshwa vizuri for two years ..early this year I lost my job the butchery business would have been my back up plan but it never worked the business also had to close it too. Now am jobless no back up plan, with family, kid in school, rent, bills.. I tell you I have learned the hard way😢
Very good interview, it's been very difficult following the show. Please can the guests stick to English or please get the parts in Swahili translated. It will help the program go more international. The content can be helpful to a lot more people outside Kenya.
Wueh, the butchery part is the most annoying part for me. Someone wakes up so early to steal from the hard work of your investment and sweat. Bila aibu! Well done Ann for good lessons learnt here. No business is easy. But good strategies are important. Thanks @team Lynn. ✌️
Responding to how we should treat our employees, im of the view that many smes in kenya operate "juakali" other than from an intention to create impact. Impactful businesses value, create and expect transformation. They expect accountability, transparency and results from their employees, to be able to impact their customers and the community. Employees should be engaged and treated professionally to be able to deliver results which drive business growth
Yani this problem ime spread like cancer. No honest people nowadays .until the day stealing will be treated like a crime. I can't if try to open extra shop
Woooi ...I left my Kasarani shop well stocked ... opened another one in Nairobi town and within 8months ... almost lost everything at my Kasarani shop ..I had to go back and pick it from almost zero ..the employee use to talk rudely to clients and steal.I realized when it was too late ...A month later she opened a shop next to mine and sells same items as mine ... development character ...I thank God nilisimama tena ... business isn't easy if you are not careful ..you can loose everything 😢
Anne has given us some very useful and inspiring tips and if she so wish to hold more and charge for it, this talk can benefit lots of people in business and those aspiring to start one in future 🎉 just love love ❤❤❤ and full admiration. Thank you Lynn for bringing her to open our minds and instil positive vibes in 2024😊
We call that the insider threat and risk management helps reduce risk scenarios associated with employee thefts. Its a challenge for small and micro businesses to put formal processes in place, but they have to have some form of controls and accountabilities even manual ones.
This gal is dope n extremely intelligent!I mean why is our gava struggling with service delivery when we have this kind of brains?ie ministry of education, she align it to levels that exams will not be guarded by guns?
This is very true,i opened a butchery in the village and it happened to be near a maize plantation,in the evening the butchery guy used to steal kilos and kilos of meat and tie on the maize stalks,i would see dogs inside the maize plantation and wonder what was not happening, the boy would untie his " muzigo" when going home.
Thank you for sharing your story. We Africans should do better with each other. What is her channel? Only us the people can make Africa a great place to live but we live in a time where we need laws that works for equality. We need our currency to work for the people because Africa has the resources and enriching the west.
Employees steal when there is an unclear employment relationship and a leadership gap. A lack of compliance costs the business more than is purportedly saved through short cuts.
"Makeup by Rose" hope aone tu hii coz weeeee hers was theft n betrayal by employees who she loved like sisters🙆🙆 mpaka akawapeleka vacation by they didn't think twice🤦
My dear sister I also lost a business from my employee. I started a Security Company and had 22 employees including my Manager. The issue was that my business was still growing and the economy in our country was going heyway, so we could raise prices, monthly and we were doing this because of the government rates. One of my main contracting companies thought it was unfair, whilst I was off attending to my sick daughter, this company talked to my manager and convinced him that they would give him the contract provided he would charge them prices which was below the government rates, and I lost the contracts. When I got back I was told that my manager now owned the company and the guards nearly manhandled me. So that was that, but life goes on.
There is a hotel in Nakuru Run by an old Guy i think its Eagle or Crow something, my cousin would supply them with items, when they brought in a new manager, he kicked all the old suppliers and brought his guys, he had refused to increase prices for him to get a profit... out here people are dangerous. Sadly the owner of the hotel doesn't give contracts, so everyone takes where they can.
I left someone in my shop for only a week i was going for a holiday coming back the token used and the money given from the week sale wasn't mathing 😢 after a month she opened the same biz next door 😅😅😅😅 Lesson learnt from Ann Team Lynn oyee 🎉
I once tried a mushroom business but it flopped before it even started😂 wee! I now know better. Don't just jump into it because it's booming elsewhere. Take your time and do a market research - my take away😊
