Success in the business environment stems from a number of factors, including how one can arrive at solutions by engaging in strategic planning not to mention allocating resources effectively. Indeed, my involvement in business has given me many opportunities to experience various challenges in fields of finance and accounting. Notwithstanding, I have also faced situations that demand precise allocation of resources to meet specified business objectives. Having graduate from the University of Bordeaux with a bachelor of science in Computer Science, and a bachelor’s degree in management from the Bordeaux management school, I was confident that I had enough skill and experience to engage in business. With these experiences at hand, I joined hand with a partner to establish a number of news websites, which we used to provide advertisement services to our clients. Every day, we spent much time gathering new and press releases before posting them on our websites. Over time, the advertising business received a significant number of clients. At this point, we developed an expansion strategy, which later made us face an acute budgetary problem.
With our success in several Tunisian markets, we decided to roll out nationally, in order to cater for the growing demand of our services. The roll out program was necessary for us to grow our market base, and at the same time create a brand for our online stores. With a team of accountants, salespersons and marketers working for our firm, we sat down and designed out a novel expansion program. This program was necessary to see us establish more online stores, process more credit cards from customers and move our website to high end hosting providers. Since our business had limited finances at that time, the budget we drew from the expansion became too much for us to afford. With a huge budget to cater for and the urgent need to expand our business, our strategic team seemed to have reached a deadlock.
The deadlock was one of the most significant challenges that our firm faced in recent times. The challenge was further complicated with many members of the strategic team having no budgetary skills at all. Needless to say, I was not sure whether my expertise would be of help in finding a meaningful solution. Nonetheless, I decided to think of a way out considering the fact that I had expertise in financial planning. As one of the co-founders of the business, I was keen in seeing this program come to completion. Because of this interest, I thought over a piece meal rollout strategy to save on money, but also prioritizing our resources. This would enable use focus on essential areas that would make the project succeed.
In order to overcome the huge budget we had developed, I suggested that we move our servers from expansive datacenter to a relatively cheap provider. In addition, I also pushed for a government aid give to small and medium enterprises. Because of the aid, we managed to reduce our budget through tax cut. Most important, I proposed that we outsource our accounting business. Through such outsourcing, it was possible for us to cut down on salaries as the accountant would only work for three days. I also looked for a cheaper building that we moved saving money from rent. These strategies were necessary to reduce our budget.
After settling on the finer details of the rollout plan and executing it according to the timeline we had created, we were surprised by the results. First, we received overwhelming positive reviews about our websites. Most important, we could save on money and time, not to mention reaching more online customers. These results were a source of an inspiration to me and offered a hands-on experience on what planning can achieve. After reflecting on this situation, I realized the benefit of taking charge of situations and at the same time using technical expertise and human skills to rally resources behind a cause. With such a background, I am certain that I will acquire more leadership skills with my admission in Duke Fuqua.
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