RUMANYIKA: I’ve come to realize that success is not solely defined by profit margins

My perspective shifted, much like the blind man in the biblical story who shouted, “I can see!”

COMMENT | IAN RUMANYIKA | For 12 years, I worked within the walls of the Uganda Revenue Authority, with a slogan before me, “Developing Uganda Together and the weight of responsibility”. My role was clear: promote compliance, taxpayer education, service delivery and collect revenue as an outcome to support the nation’s growth.

In many cases from my vantage point, businesses were entities with deep pockets, and many times you would think some are reluctant to part with their hard-earned profits. I saw their reluctance to comply with tax laws as a challenge to be overcome.

But life had other plans.

After a decade and 2 years of serving the public sector, I made the bold decision to join the private sector. The transition was jarring, like shedding a skin that had grown too tight. Suddenly, I found myself in the trenches, grappling with the very businesses I once oversaw from afar.

The first few months were an eye-opener as I interacted with manufacturers. I witnessed first hand the struggles businesses face to break even, to stay afloat in a sea of competition and uncertainty. The assumption that businesses are inherently profitable, that they simply don’t want to comply with tax laws, began to crumble.

I saw the late nights, the early mornings, the endless cups of coffee, and the prayers for a good day.

One particular recent case is the KFC story.

Many Ugandans have come out to condemn the brand for allegedly hiding behind a veil of expansion and advertising to mask their losses. How could a brand that seemed so successful be making losses? But as I navigated the complex world of business ownership, I began to understand, seating in privileged position can give you false impressions.

Businesses make strategic decisions, often counterintuitive to outsiders. Expansion and advertising can be investments in the future, bets on growth and market share. Losses might be a temporary reality, a necessary evil to achieve long-term success.

My perspective shifted, much like the blind man in the biblical story who shouted, “I can see!” Indeed, I could see.

I saw the resilience of businesses, their determination to persist despite the odds. I saw the different strategies they employed, the innovative solutions they crafted, and the unwavering commitment to their vision.

As a business owner myself, I’ve come to realize that success is not solely defined by profit margins. It’s about building a brand, creating value, and leaving a lasting impact.

The private sector has taught me the importance of adaptability, creativity, and perseverance.

It is without a doubt that my time in the Uganda Revenue Authority gave me a solid foundation, but my experience in the private sector has given me a new appreciation for the complexities of business. I’ve learned to see beyond the surface level, to understand the intricacies of entrepreneurship.

And so, I’ll continue to navigate this complex landscape, armed with a newfound understanding of the challenges and triumphs of businesses. The blinders are off, and I can see the world of business in all its beauty and complexity.

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The comment was adapted from X @irumanyika “A Shift in Perspective“