Helen Dausen: If used well, fear can be your propeller
There was a time when it wasn’t easy for Tanzanian women to find a skincare product that was 100% natural and meant for the African skin. That was before Tanzanian-made African beauty brand, Nuya’s Essence came along. Nuya’s Essence is a natural bath and body care brand that handcrafts natural products from botanical oils, butter, and herbs. The product is made from the purest botanical and non-toxic ingredients there is. Largely, the ingredients are sourced locally and from South Africa, Ghana, India, and Morocco. Njeri Meja, our SLA contributor spoke to former beauty queen and formulator of Nuya’s Essence, Helen Dausen. She found out more about how Helen’s beauty queen past helped her business and the steps Helen takes to improve her hustle. What motivated you to start Nuya’s Essence? I have always been so careful about how I nourish my skin. I think I got it from my mother. As a young girl, she would apply olive oil and pure coconut oil on my sisters and I. I had also been unemployed and needed to do something about my life. While in college, I wondered if I could get a quality soap to complement my beauty care routine. So I went looking and found some DIY ideas for soap. I started mixing stuff at home and sharing recipes with friends. I would also tell them what to apply or what food to eat and the like. The idea of Nuya’s Essence first gained root in my heart in April 2013. However, we didn’t start marketing it publicly until in June 2014. How did you start? I started small with support from my parents. I began with making handmade skincare products from the backyard at home. I sold to my mom’s salon, farmers market, pop-up shops, and friends. Did being a beauty queen help your business in any way? Yes, it did. As the crowned Miss Universe Tanzania 2010, people often asked about my skin and hair-care routines. That also fueled my decision to build a skincare brand. Who is your target audience? Actually, everyone can use my products. The marketplace is saturated with products made with harmful chemicals patronized by unsuspecting African women. I wanted to create something great enough to be an option to the mainstream skincare products. Nuya’s Essence is for women looking to go all natural and adopt a healthy lifestyle. Tell us more about your range of products Our natural skincare range is formulated to work with all skin types. The ingredients are carefully selected and suited for everyone. We do not add fillers, toxic chemicals or test them on animals. Our products are recyclable, bio-degradable, eco-friendly and safe enough to be used by kids. It can be used on sensitive skin, very sensitive and mature skin. We produce them in small batches with our customers’ satisfaction in mind and they do serve the purpose. Did I tell you that they also smell amazing? Oh yes, they do! Currently, our product range includes natural handmade soaps, body oil, body butter, body scrub, 100% pure coconut oil, and raw shea butter. However, we keep working at developing new products. How have you improved yourself as an entrepreneur? I just completed a Mandela Washington Fellowship program for Young African Leaders. The intense 6-week-long program ended on the 4th of August 2016. I worked hard at it and formed great partnerships and friendships. It was a great experience and boost for my personal and business growth. I look forward to better opportunities. I have also done some training in natural/organic skincare formulation in Johor Bahru, Malaysia. There, I learnt the basics of formulating a perfect product. I still study online, read lots of books on the subject and strive to improve my beauty range or create new ones. Any challenges? How do you mitigate them? My biggest challenge so far is getting customers to believe in our products, especially women. I started using my products long before I sold them. This made me more comfortable and confident to tell other women about them. Personally, I have experienced the healing powers of plants and I have been able to achieve youthful, flawless, glowing and evenly-toned skin. However, getting clients to believe in you is hard. To tackle this, I give free samples for trials and this has worked. They usually return with their friends and this time, they actually buy. Word goes round and we’ve done well so far. How would you advice a woman looking starting something like Nuya’s Essence? Fear will always be a constant factor but if used well, can be your propeller. You may never enjoy absolute support. Money may never be enough. But girl, you can rise above it all. The trick is to start with what you have at the moment and then grow in small paces. Last words? One of my favorite successful businessmen said, “The harder you work, the luckier you get.” I believe there are so many opportunities out there. You just have to be ready to take them. Be willing to take risks and accept failure as a learning curve. The only real failure is not trying at all. After all, what’s the worse that can happen? Always believe in something. Personally, my hope and faith are in God. I am at peace with myself, my work and the people around me and that helps. I set out to glorify Him in everything I do as a person or business woman. Always have something or someone to fall back on for support. You can never go wrong with this. Want to see women you know featured on SLA? Tell us what amazing things women are doing in your communities here.
Pensions, Savings, Trusts, Insurance. What is This All About?
With so many investment products on the market, we understand that it can become quite overwhelming and confusing when trying to make the best investment decision for your financial goals. But, fret no more! We’ve produced a pensions, savings, trust, insurance guide that will help you make the In-Telligent Choice and be on your way to financial freedom. Pension A pension scheme is a type of savings plan that helps you save money for later life. It has favourable tax treatment compared to other forms of savings, which is an added advantage. How it Works? You save a little of your income regularly during your working life so you can have an income when you retire or decide to work less (at retireable age). There are several types of pension schemes. Some may be run by your employer, others you can set up by yourself. Saving in to one scheme doesn’t mean you can’t save into another or use other tax-efficient savings plans. When the time comes for you to start enjoying your pension, there will be several options available to you. These may include being able to take a tax-free cash sum and the added security of being able to receive a regular income, now that you are not working full time. Savings Saving is income designed not to be immediately spent. Methods of saving include putting money aside in, for example, a deposit account, a pension account, an investment fund, or as cash. Saving more than just an account, it is also a deliberate act to reduce expenditures in your life. In terms of personal finance, saving generally specifies low-risk preservation of money, as in a deposit account, versus investment, wherein risk is higher; in economics more broadly, it refers to any income not used for immediate consumption. To be considered financially secure, an individual or household should save at least six months’ worth of expenses. For example, a household that has N20,000 per month of expenses should have at least N120,000 in savings (N20,000 multiplied by 6 months). To reach this amount, it is recommended that 10- 20% of net income should be saved until the appropriate amount of savings is reached. Trusts A trust fund is a fund comprised of a variety of assets intended to provide benefits to an individual or organization. A grantor establishes a trust fund to provide financial security to an individual, most often a child or grandchild, or organizations, such as a charity or other nonprofit organization. A trust fund contains cash, stocks, bonds, property or other types of financial products. The recipient of a trust fund must typically wait until a certain age, or until a specified event occurs, to receive a yearly income from the fund. Prior to this, a single trustee, or a group of trustees, manages the fund in a manner appropriate to the trust fund’s specifications. This usually includes some allowance for living expenses and perhaps educational expenses, such as private school or university. Insurance Insurance is a means of protection from financial loss. It is a form of risk management primarily used to hedge against the risk of a contingent, uncertain loss. An entity which provides insurance is known as an insurer, insurance company, or insurance carrier. A person or entity who buys insurance is known as an insured or policyholder. The insurance transaction involves the insured assuming a guaranteed and known relatively small loss in the form of payment to the insurer in exchange for the insurer’s promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms, and must involve something in which the insured has an insurable interest established by ownership, possession, or preexisting relationship. The insured receives a contract, called the insurance policy, which details the conditions and circumstances under which the insured will be financially compensated. The amount of money charged by the insurer to the insured for the coverage set forth in the insurance policy is called the premium. If the insured experiences a loss which is potentially covered by the insurance policy, the insured submits a claim to the insurer for processing by a claims adjuster. For more information about investment products and services, contact United Capital Plc. Web: www.unitedcapitalplcgroup.com Phone: +244-1-280-7596 Email: customerservice@unitedcapitalplcgroup.com Twitter: @UnitedCap Facebook: Facebook.com/UnitedCapitalPlcGroup United Capital Plc is a leading Investment Banking Group providing capital financing solutions to governments, companies and individuals across Africa. We are well positioned to play a strategic role in helping Individuals achieve their strategic objectives through our robust suite of financial and investment service offerings. Sponsored Post
Squad goals for the Motherland Mogul
So, it’s 2016 and us Motherland Moguls are too busy planning world domination to be bothered with perpetuating silly stereotypes of women tearing each other down. According to the Urban Dictionary, one can define squad goals as, “an inspirational term for what you’d like your group of friends to be or accomplish”. To be perfectly honest, this term is fire right now. But even fierier? The power women this article is about to lay down for you. They are killing it in their careers and looking bomb while at it. It’s definitely time to up your squad a notch or two. Who knows? You all could end up in the next edition of SLA’s squad goals. LaLa Anthony, Ciara, Kelly Rowland and Serena Williams This awesome foursome consists of incredible women who are leading successful lives and still finding the time to be each others cheerleaders. Key in a world champion tennis player, a superstar singer/one-third of Grammy-winning music group Destiny’s Child, a RnB songstress/dancer, and an actress/co-producer of the first all-black, all-female cast Broadway show. Talk about goalssss! Sometimes their schedules don’t permit them to all be present to mark important milestones but they support each other ferociously nevertheless! Just recently, Serena turned down the offer to be Ciara’s bridesmaid at her wedding to Russell Wilson as it coincided with the Wimbledon semi-finals. But, she was a part of the all-girls trip Ciara planned to Vegas before her big day. These are the kind of boss women the Motherland Mogul needs around her for motivation and inspiration; women who are killing it and who value their friendships immensely. This squad is so bomb, Queen Bey is like an honorary member. I think that says it all. I’ll stop right here. Arese Ugwu and Toke Makinwa Do these women really need an introduction? I think not. Just in case you’ve been under a rock this entire time and missed our article on inspirational websites, Arese is a personal finance guru and the founder of Smart Money Africa. Toke Makinwa is known as a vlogger, multimedia personality, and fashion icon. This dynamic duo has got mad love for one other and ruling their respective empires hasn’t dimmed it one bit. Muna Abii, Sarah Ofili, and Adaeze Yobo Former beauty queen and current rapper/entertainer, Muna Abii and designer/blogger Sarah Ofili serve us some serious goals. This sensational twosome work hard and slay even harder! This friendship definitely makes us green with envy! Whenever the third pal Adaeze Yobo is in town, the squad gets together to catch up and cheer each other on. Adaeze is also a former beauty queen and a Sickle Cell Awareness advocate. These women prove that there is beauty in unity and that powerful women don’t necessarily have to be at odds with each other. Squad goals for sure! ? Are you and your squad as fly as these ladies? Tell us in the comments!
Acing your side hustle: the DJ Khaled example
Say what you want about DJ Khaled, but you can’t knock the major key to his success— his hustle. While the Miami mogul has been behind some of hip-hop’s hottest hits over the last decade, he’s also dabbled in various other ventures as a producer, executive, entrepreneur. And most recently, he’s the hottest social media phenomenon on the block. Even though being your own boss is appealing, don’t play yourself. Definitely, it’s no walk in the park. Setting your own hours and building your own product or service can help fulfill your passion and purpose. Yet, the grass isn’t always greener in the startup life. With growth comes staff management, customer acquisition and retention, and the dreaded mountain of paperwork. Start a side hustle. It’s a great way to earn some extra money or slowly grow your business. If you’re an aspiring #MotherlandMogul, establishing your side hustle is one of the first steps to building your empire. Evidently, pursuing a passion project while working a 9-to-5 is no easy task. It takes creativity, discipline, and a whole lot of grit. So here are a few keys to help you follow DJ Khaled’s lead and stay winning. Figure out what you’re good at In an ideal world, the thing we’re most interested in is the thing we do best. More often than not, that’s not the case. That doesn’t mean that you have to abandon things you’re passionate about. It just means you have to evaluate where your skillset overlaps with your interests. Okay, think back to your childhood years. Did you show an aptitude for something? Do you often receive compliments from others for something that comes innately? Do friends and colleagues repeatedly ask for your help with certain tasks? By honing in on what you’re good at, you can figure out if it can be translated into cash. Once you’ve established your talent, consider whether people need your services and, more importantly, how much they’re willing to pay for it. Use your network As the saying goes, “your network is your net worth.” If you’re launching a new service or product, do a test run or distribute samples to family and friends to get their feedback. Those who are closest to you are often the most likely to keep it real. Now, if you’re looking for financing, your network becomes particularly crucial. Family, friends, acquaintances, and colleagues—these are the low-hanging fruit that can get the ball rolling. People who are invested in you as a person will be more invested in your success. These are the folks who can speak passionately about your work and spread the word to help you secure more clients. The first step is asking. Be direct and personal whenever you can. Send individualized emails and notes, post on social media, and set up coffee dates where you discuss your side hustle clearly and succinctly, and outline concrete areas where you need to fill gaps. Manage your time well You have the same amount of hours in a day as everyone else. Admittedly, you might not have the staff or millions… but you do have the same power to decide how you spend your time. Time management is essential if you’re investing time in a side hustle in addition to full-time employment. We each have 1,440 minutes every single day. To make the most of them, fully commit to your goals by blocking time off each day to work on your project and making the most of that time. Set deadlines to hold yourself accountable. Believe in yourself Most importantly, if you want someone to buy into your idea or project, you have to first buy it into it yourself. It’s easy to get discouraged when trying something new, but remember that each failure is a lesson that prepares you for your next success. Entrepreneurship is a creative process. We learn what works by learning what doesn’t.
Connecting the African Diaspora through fashion and entrepreneurship
As an undergraduate at University of Pennsylvania, I was blessed with the opportunity to study abroad twice in Ghana. This was the first time that anyone in my family, since we were brought to the USA as slaves, had the chance to return to our ancestral land. While in Ghana, I was exposed to the vibrant and stunning Ankara fabrics and traditional Kente cloth. I instantly fell in love with the fashion there and it’s potential to grow beyond the shores of West Africa and take root and blossom around the globe. I was also intrigued by the prospective economic impact that fashion could contribute to the households of Ghanaian artisans. Then LaBré was born Over the past year I’ve been vigorously working to realize my goals of creating and launching an African inspired fashion line, LaBré. LaBré exists to increase economic growth in Ghana through job creation. It also aims to provide Ghanaian artisans and their products with access and exposure to the international market. LaBré primarily employs women, a population that is often the most disenfranchised. We just recently led a Kickstarter campaign which culminated into a little under $11,000 to employ more Ghanaian artisans with our company. I am proud of the fact that all of our items are handmade in Ghana by Ghanaian artisans. My inspiration comes from my ancestors At the end of the Civil War, most southern African Americans who didn’t migrate to the North made a living through sharecropping which replaced plantation slavery. This is also known as tenant farming. These systems required farmers to plant and grow crops for the owner of the land in exchange for a portion of the crop. Sometimes, it required farmers to use their labor as rent to reside on the owner’s land. Sharecropping and tenant farming has persisted in my family to my grandmother’s generation. As a result of having to be self-reliant, my grandmother grew up knowing how to plant cotton. Through sewing, she also knew how to turn the raw material into cloth. My passion and dedication to create LaBré has culminated into the inter-generational exchange of technical skills. Not only that, it continues to build upon the legacy of self-empowerment, ingenuity, and tenacity. The power of Diasporic connections Learning to deal with the challenges that come with running a business overseas, has made me appreciate the diligence of Ghanaian entrepreneurs. I’ve had to work with electric cuts, language barrier and a lack of efficient telecommunication. Add to that the fact that I’m not physically present. The networks I’ve made have been helpful. Particularly with entrepreneur Peter Paul Akanko, CEO of Kente Masters. Paul helps coordinate and implement LaBré logistical operations on the ground such as shipping, inventory, and photoshoots. In February 2016, the unemployment rate for Black American ages 16-24 was 14.5%. This is similar to the situation in Ghana. Young people aged 24 and under make up 57% of the Ghanaian population. According to the World Bank’s “The Landscape of Jobs in Ghana” report, 48% of Ghanaians between the ages of 15-24 don’t have jobs. My friendship with Peter is a great example of what collaboration throughout the Diaspora and youth entrepreneurship can produce. Telling history through fashion When you wear LaBré you aren’t just wearing beautiful clothes, you are showcasing your resistance.You’re showing that you are critical of where you invest your money, from who and where you buy, and in what you wear. The common narrative is the extraction of wealth and resources from Africa. Through LaBré I am seeking to invest in the Ghanaian economy by providing supply for the rapidly growing demand for African inspired fashion. As an African American, many of us desire to reconnect with our place of origin in meaningful ways. Through LaBré I am telling history through fashion. Our men and women summer collections are both named after Ghanaian liberation leaders, Queen Mother Yaa Asantewaa and King Badu Bonsu II. These are people who we in America grow up with no knowledge of. LaBré is committed to promoting heritage and traditional fabrics through modern design by producing a compelling fashion-forward aesthetic. I plan to build LaBré into a global Diasporic community connecting people through fashion, art, history, and culture. I am currently creating an online platform with Andre Glover of Indsic. The platform will allow Ghanaian artisans mass market and showcase their designs to a global audience and customer base. This is a grassroots effort that will work with local artisans. From the Kente weaving villages of Andanwomase and Bowire to market women in Kejetia and Tamale. I didn’t realize I would be using my International Relations and African Studies degree to create LaBré. If I could go back and give myself advice before starting my company it would be to “trust God and do it now.”
Lessons from Mark Zuckerberg’s visit: Check your bias
So by now everyone knows that Facebook founder, Mark Zuckerberg was in Nigeria and Kenya just recently to “inspire 200 developers”. There’s been so much buzz on that visit and we are clearly not over it yet. Here’s what we observed from not just Zuckerberg’s visit but also from the buzz around it. Tech isn’t just for guys Gone are the days of thinking being a tech girl translates to nerdy looks and oversized T-shirts associated with the halls of engineering schools. You know, we can actually have smart, independent women who get hot and heavy with electronics on a daily basis —and come out with some heat of their own. Remember how in school, your course of study wasn’t just a matter of personal preference? It defined how intelligent you were. The geeks were all in the sciences while the not-so-brainy ended up in the social sciences. The course you read was as important as the clothes you wore, or the slang you used. But not anymore. Anyone, and we mean just anyone, can thrive in the tech world! So, here’s the thing, ladies. It’s okay to declare membership to that social group and be hip. We need more tech girls and we’ll be cheering them all the way. Defining people by their colour is not cool! There has been a lot discussion over skin tone. Over the weekend, after Mark Zuckerberg’s visit, the colour fights got worse on twitter between Nigerians and Kenyans. https://twitter.com/hennrry007/status/772177102321885184 These days, the one-time ubiquitous ‘black is beautiful’ mantra has been overrun by the light-skinned Instagram sensation. While everyone still claims that blackness is the gold standard for African women’s skin, others would insult a black woman for being too dark. Sneaky. We are officially over it. How about we start making women (and men alike) comfortable in the skin they were made in? The last time we checked we were all black! In all fairness, you can’t be chilling at the background all the time Your perspective changes right around the first time you’ve worked at a place for a while and seen a Psychology graduate changing oils at a factory. You chuckle or cringe at the strangeness of it and realize, “Wait a second! He probably even earns a salary higher than people who have MBAs!” You may need to start redefining when and how you reach mega-success. That means making your passions profitable. It may even mean skipping school to pursue a dream. Mark Zuckerberg, Bill Gates and Steve Jobs all did it, you know. Forgoing a traditional corporate career may pay off —but remember it also takes discipline, hard lessons, and responsibilities at an age when most of us are still figuring out which of our photoshopped pictures to post on Instagram. Ideal business location has over 1,000 other meanings We are not here to say location isn’t important or anything —but it is there only for ambience. Andela, the tech company Mark Zuckerberg visited is definitely not located in the highbrow areas of Lagos. It’s at the Co-creation Hub in the suburbs of Yaba! I bet you didn’t also know that in June, for its first lead investment, Mark Zuckerberg and Priscilla Chan’s fund led a whooping $24 million into Andela! So, the location may not be what you’d expect but so what? Zuckerberg found them anyway. In conclusion, all the stereotypes that made sense years ago and kept us busy doing nothing to better our lives as Africans? Forget them. We know better.
Fatima Zahra Nassik: Treat your business like a rollercoaster
There’s nothing as inspiring to us as seeing students getting their hustle on. Talk about getting into things early. Fatima Zahra Nassik is a bomb-ass social entrepreneur from Morocco. While pursuing her studies, Fatima co-founded Enactus ENA, a platform for student and business leaders, with her friend. Fatima didn’t stop at Enactus ENA though, she also started Laymouna with Fatima-Azzahra Benfares. Laymouna is an initiative that brings fruits and healthy snacks to busy students and working people. She’s also involved in starting other ventures and still interns at the same time! Read on to find out how Fatima brings her academic savvy into her entrepreneurial life. Tell us about your organization, Enactus ENA. Why enter into social ventures? Through Enactus ENA, the idea was to show that architecture students can also have an entrepreneurial mindset. In our first year, this was basically our goal. We started organizing conferences and events like, ‘Find the leader in you’. At this event, we had interesting leaders and speakers give inspiring speeches. We also had the first edition of the Enactus Regional Summit. It gathered 8 teams from the region to share experience, knowledge and especially communicate on their projects. Through workshops where business tools and team building activities were taught, we had several on-field types of research where we spotted different needs. After many interactions on ideas that responded to those needs, Laymouna, TownOut and C-Home were founded. Tell us about your social ventures. How do you ensure that they achieve success? Laymouna is an enterprise that aims to make fruits and healthy snacks readily available to students and working people. The idea of Laymouna really came from a need that we, as students, faced in university. We decided to do something about it. We do this through innovative vending machines and stands that provide fresh and accessible choices for people who want to eat healthily. On a more ambitious level, we want to improve the food culture in Morocco. Then through TownOut, we organize trips to remote areas in Morocco. We promote them as new tourist destinations and therefore empower them economically. Finally, C-Home is an alternative construction method where we use lightweight cardboard for homeless people. The idea is to build at a lower cost and quickly too. To ensure our ventures achieve success, we give presentations of our project’s progression to an advisory board formed by many professionals and business leaders. We organize this approximately every two to three months. We also ensure our projects participate in as many competitions as possible to maximize feedbacks and improvement. Most importantly, we have Enactus Morocco as a constant counsel. What difficulty have you faced in founding and co-founding? What advice will you give other women looking to start a project together? Concerning founding and co-founding the venture, we discuss and respect each other’s opinion at every single step. Of course, final decisions are made by the CEO if a mutual agreement takes too long. I would advise women planning on starting a project together to view their ventures as rollercoasters. Ups and downs would be a recurrent feature. Aspiring entrepreneurs must see them as necessary challenges to reaching goals. Instead of being discouraged, see them as opportunities to show that things can be different and especially like you imagined. At the end of the day, you are here to create impact and value to the world. How has your organization grown since you started on it? What steps have you taken to get it to where you want it to be? The organization is growing pretty fast. Actually, we come top to mind when it comes to entrepreneurship in our university. We are looking forward to gaining more impact in the next year and to give birth to other projects. Professors and trainers have shown interest in coaching us. We’ve been contacted by many foreign partners interested in not only our events, but also our projects. For this year, we aspire also to have more projects in the field of architecture or urbanism, a domain that we master. Tell me about your experience at the Henry Ford Academy. What steps did you take to ensure that your project won the best pitch prize? My experience in the Henry Ford Academy (in partnership with IIHEM) was rewarding. Several entrepreneurs and business leaders came and we heard their inspiring stories. We had many courses from shaping the idea of a project to how to pitch it. And finally, how to finance a business venture. For three different prizes, a presentation of our project was to be made in just one minute. Since the training was in French and English, my colleague and I decided to pitch Laymouna in both languages in exactly one minute. I think the originality of the pitch is what made us win this prize as we caught the attention of the audience. Furthermore, Laymouna was the startup selected for the HFEA ICP program for a two-week consulting with IIHEM alongside VCU students who came from the US. As a freelancer and businesswoman, how do you manage all these projects? What do you do to unwind and relax? I think the answer to this question is actually passion. I am a super active person. I really believe that my actions can give a positive impact in this world. Freelancing is most of all, a way to help me gain experience in the professional field beside my studies. My passion has helped me find a way to manage these projects. It’s my strength especially in my lowest moments (rollercoaster, remember…). Personally, I believe travelling for a few days or spending time with family is the best way to unwind and relax. It helps me achieve a broader vision of where I’m going and how. Lately, I’ve started working on starting some dancing classes. I want a physical activity that includes fun. Are you still a student? Yes! I’m in my fifth year. Of course, this means I’m basically focused on internships.
How to tailor a career development plan to your personal development goals
In creating my own career development plan, I’ve realised the importance of aligning my career with personal development goals. Also, everyone should possess this skill. At the end of the day, we’re the masters of our own careers. We owe it to our future success to do this. Your company’s goals should align with yours Before building a personal career development plan, determine if it agrees with that of the company you work for. Be sure it already aligns to your specific role. That way, you can have a great starting point. This will help you align the company’s goals with the goals you’ll put in place for your own personal career development plan. If there isn’t a career development plan specific to your role, don’t worry. It really isn’t a train-smash. The career development plan from your company will not be the be all and end all of your career. But it provides a good start for establishing your short to medium term goals, and how to achieve them. Determine what your goals are The first step in putting your plan to paper is determining what you ultimately want to achieve. This process might seem tedious at first, as it requires a considerable amount of effort and thinking. However, knowing the end goal lets you clearly define the intermediate steps to getting there. Strategise How you craft your end goal is up to you. One may model themselves after someone they look up to. Others may visualize it in their mind’s eye and work towards a ten to twenty-year projection. Some may decide to dwell on what’s most important and what they’re passionate about. You may actually combine the first two examples, creating a model of yourself. I’ve been using the latter to help guide me to envision my end goal. I also believe as the years go by, this image of yourself will change, and so will your goals. Set timelines Once an end goal has been set, finding the intermediate steps could be done. Ask questions about what you need to do in the next year, two years or three years to get to the end goal. I’ve found that this helps in answering the questions of where I want to be in the very short term, and ultimately the long term. The time frames here can be different for different people. Others may be comfortable with monthly time frames, while others could be more comfortable thinking in years. As I’ve said before, this process may seem difficult at first. But once you start putting goals on paper and executing them, it’ll help you have a sense of control over your own career. Set comprehensive goals A good career development plan is one that spans over different areas of your life. It’s important to note that a personal career development plan will include setting goals for your career, finances, physical/body, social and personal goals. These categories may also be divided according to short, medium and long-term goals. To actually make your plan as comprehensive as possible, your goals are also divided over three and six months (short term). One and three years would be considered your medium term goals and five and ten years are your long term goals. For a category like career, you should have a comprehensive plan and you’d need to set the short, medium and long-term goals. Under each time period, you ask yourself what you want to specifically achieve for that particular category in three months, six months and so on. Once you’ve established what you want to achieve, you’ll need to answer why it’s important for you to achieve this and if it speaks to your core. There are various questions you can ask yourself until you fully understand your goals and why and how you can achieve them. Keep track It’s well known in management circles that you can only control what you measure. The next step in taking control over your goals is keeping track of them. The onus is on you to make sure that your goals are constantly updated. In six months to a year, your goals might have changed. Putting this on paper is important because it shows you the transition in your life, from where you initially thought you’d want to be to what you have become or wanting to do. Keeping track helps show growth. Finally, it’s important to be transparent with your plan and to also remember it is as important as setting goals. Treat your goals like chains and be bound by them. Your career development plan is meant to be a guide that can be amended when needed. With that said, however, changing your short, medium or long-term goals shouldn’t stem from laziness. Rather, the changes should be necessary in aiding the achievement of set goals. After all, it is your guide to navigating through all spheres of your life.
Negotiate your way to financial success Part II: Negotiation mistakes and how to avoid them
In the last segment, we discussed the essential steps for negotiation. Of equal importance are things you should not do during negotiations. Mistakes during a negotiation can hinder its success. Don’t get emotional It is imperative that during negotiations you maintain a professional stance, even when you feel undermined. For example, bursting into tears and lamenting about the unfairness of an offer can prove counter-productive. Your tears won’t persuade your negotiation partners to give you a fair deal. Moreover, emotional persuasion will not help you win your negotiation partners’ respect. It will only get them to “pity” you. You never want to start a business relationship out of pity. Pity does not get you the deserved respect in the long run. Emotional outbursts during a negotiation will hurt its effectiveness and productivity. Tip: Rather than using emotional persuasion, use objective facts. Humanize the negotiation but do not personalize it. Don’t make unsupported assertions One could be tempted to make unsupported assertions when negotiations seem to go downhill. Don’t! Using fiction to support your bargaining point during negotiations will hurt your chances of success in that deal. Remember, you will likely be dealing with savvy business individuals who most probably have researched your assertion. They’ll definitely be able to spot a fictional assertion. There is nothing worse than being unethical during a negotiation and tarnishing your reputation in the business industry. News travel fast! Tip: Prior to a negotiation, gather as much hard data as possible to support your assertions. Where relevant data is unavailable, use comparable data. When using comparable data, be transparent with your business partners. Do not disguise the comparable data as one that speaks on the matter at hand. In the same light, don’t rely on spontaneous brilliance. Prepare! Do not make spontaneous decisions Do not feel pressured to make a decision on the spot. It is perfectly okay if your negotiations require a series of meetings before reaching a bargain. Tip: Ask for time to make a well-informed decision. Do not say “No” Yes! I really meant to say do not say “no” during negotiations. Never say “no” during a negotiation, even when declining an offer. Instead, positively decline the offer. You should be able to embed “no” into the kindest phrase your potential business partner has ever heard! For example, you have been recently offered a job with an unattractive salary. Rather than emailing the employer to say “Thank you, I have decided to decline your offer,” you could do it better. Consider calling and saying, “Thank you for the offer, I am excited about the position and the opportunities it will offer. However, after reviewing the compensation package, it would prove challenging to be able to meet my financial obligations. Nonetheless, I remain open to hearing about future opportunities that will match our mutual needs.” Such an approach will allow you to continue future conversations with your potential business partners, employers, or even schools. In fact, this approach helped a friend get more financial aid from a top law school. Tip: Bury your “no” in a positive statement. Make them feel good about your response so that they barely dwell on the fact that you just said “no”. Do not give an ultimatum During negotiations, your goal at all times should be to negotiate. Yes, simply negotiate. Avoid using an ultimatum during negotiations. It sends the wrong signal that you’re unwilling to further the negotiation discussions or find a win–win scenario. Moreover, an ultimatum will put your negotiation parties on the defensive. For example, saying “this is my best offer, take it or we have no deal” is wrong. It’ll likely to make the other party believe that a negotiation ends if your offer is not met. Never give the impression of foreclosing the possibility of finding a mutually acceptable bargain. Such aggressiveness will likely be counterproductive in achieving success. Tip: Rather than give an ultimatum, which focuses on the “I,” focus on the “we,”. Express your willingness to create value for all parties while also noting the need to meet a deadline. You may consider telling your negotiators that you would like to reach a decision by a certain deadline. Such timing should, however, be reasonable. This can help you pay attention to cultural nuances (as discussed below). Such an approach will allow all parties to focus on reaching an agreement within the stipulated timeframe. Do not ignore cultural nuances It is imperative to pay attention to cultural nuances during negotiations. This could play a vital role during the value-creation process. For example, direct eye contact with negotiation parties is strongly encouraged when dealing with US negotiators. This conveys sincerity and could enhance negotiations. In China, however, such a gesture could hinder a negotiation’s productivity. Direct eye contact is considered inappropriate or rude in China. Tip: Do not apply blanket tactics during negotiations. Research the negotiation parties and be sensitive to cultural idiosyncrasies. This will help you succeed in maximizing your negotiation potential. To summarize, avoiding these negotiation blunders will improve the likelihood of a successful negotiation. It would provide the ability to realize your desired outcome. If you would like insights on a particular topic, write to us! We are listening.
Meet our Accelerator Moguls: Shuttlers
As you know the first ever She Leads Africa Accelerator Program is currently ongoing. Out of the 120 startups from across Nigeria who applied for the program, we identified 10 as the next generation of Nigeria’s brightest female entrepreneurs. These 10 selected businesses are now benefitting from our intense accelerator training. One of them is Shuttlers, a company that enables professionals access comfortable and efficient transportation to and from work using seat matching technology. Meet the three women behind Shuttlers —Damilola Olokesusi, Busola Majekodunmi, and Damilola Quadry. Frustrated by the stress commuting in Lagos as professionals, the three women decided to do something about it. What idea lead to the creation of Shuttlers? After a long week of stress commuting to and from work, Busola and I shared our commuting experience over a phone call and decided to solve the problem instead of complaining. Not too long after, Damilola Quadry moved back to Nigeria and shared the same commuting challenges. She joined the team to make commuting to and from work less stressful for professionals who share this same plight daily. We shared a common passion, drive, determination and combination of different skills from Engineering, Economics, Management & IT. Also we had been exposed to efficient transport system from Dubai, London and USA. Adding in personal experiences with commuting in Lagos, we developed a business model to solve this problem in the most efficient and cost effective manner. After several months of research, we partnered with a leasing company and had our first pilot in November 2015. – Damilola Olokesusi How has the service Shuttlers provides been received in Nigeria? Shuttlers makes use of a different model from what many are used to, the service idea has been welcomed by many individuals and companies. Due to the structure of our business model and current low capacity we are unable to cater to all the daily demands. Currently, we are working to increase capacity by partnering with more bus leasing companies/ fleet management companies to enable us penetrate areas that are pain points in the city and to meet the demand for the service. – Busola Majekodunmi What do you need to take Shuttlers to the next level? How do you plan to get there? We need financial resources in form of investment, Human Resources and commercial partnerships such as bus leasing companies, fleet management companies, bus owners and companies with staff buses and access to companies to reach professionals who need our service. We plan to perfect our product/market fit and strategically position our product/service to attract these resources. I believe we are currently on that path. – Busola Majekodunmi