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.
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.
Making lemonade out of lemons: How my struggle with depression shaped me into a confident woman
My mission in life is not merely to survive, but to thrive; and to do so with some passion, some compassion, some humor, and some style. -Maya Angelou Recently, I got to check off something my bucket list —to see Beyoncé in concert! A recurring theme in her phenomenal performance was overcoming the obstacles in life. The message was one of survival even with the odds stacked against you. It was about making something beautiful out of an ugly situation. It was definitely making lemonade when it seems like all life has served you is lemons! I left the concert on an emotional high while combing through my past experiences and tallying the number of ways my struggles have shaped me into the woman I am today. Mental health, specifically depression, has had a grave impact on my life. It is one battle I have fought constantly throughout my adolescence and adulthood. I have had more low times than I can recall. There were times when I felt that happiness was permanently out of my reach. Those times, it felt like this disease would always stand in the way of me achieving my dreams.Now, I know that I can choose to either focus on the negative or pick out the lessons it has taught me. The choice is entirely mine. So, in the spirit of making lemonade out of the proverbial “lemons of life”, here are some of the positive things I have learnt through my journey with depression. You become more self-aware The famous Greek philosopher Socrates said, “the unexamined life is not worth living.” In this age, we see a lot of people eager to emulate the lives of others in the hope of achieving the same level of comfort, wealth or fame they imagine these people have. I think a lot of people don’t really take the time to truly find themselves. They are unable to decide what makes them happy and what they truly want out of life. Depression is one of those conditions that forces you to take a deep, long and hard look at yourself. I try to understand the reasons behind my depression, my reaction to certain situations and how I can be more positive in spite of it. These insights, in turn, have come in handy in navigating other aspects of my life. You become more empathetic towards others It’s human nature to sometimes make snap judgments about people we encounter, even when these judgments are made based on very little facts. Dealing with depression made me realize that you can never really know what someone else’s life is like until you’ve walked in their shoes. Also, the longer I had depression, the easier and more willing I was to help other people. I took the time to ask questions, listen to their stories and try to support them on their journey as much as possible. If employers had more empathy towards their staff, governments towards their citizens, individuals towards strangers, the world would be a more tolerant place. Depression taught me that sometimes, it’s better to ask questions first and save judgment for later, or never. You become more resilient There have been many times when I almost threw in the towel because I didn’t think I could ever truly beat this disease. It seemed pointless living a life of diminished quality. Now, with medical treatment, therapy and the love and support of my family and friends, most times I’m able to go months without having a major depressive episode. The more I learn about my condition, the more empowered I feel to handle it and not let it control my life. If there’s anything depression has taught me, it’s how to be strong and resilient. I have fought for years and I’m still standing! I try to apply this same attitude to my personal and professional life. I know that no matter how tough a challenge is, the rewards will be beneficial to my growth and maturity. Finally, let’s get more comfortable with talking about issues regarding mental health in our African societies. By being willing to listen and learn about the struggles of others, we give them a chance to express and embrace themselves fully. Our societies will benefit from having citizens that are adequately equipped to cope mentally with the daily challenges. Want to inspire us with your personal stories on SLA? We’d love to hear all about it here.
5 lessons I learnt about navigating the entrepreneurial roadmap with Nieros Oyegun
At SheHive London, Nieros Oyegun, principal and head of Corporate and Financial Advisory at W8 ADVISORY gave an insightful talk about navigating the entrepreneurial roadmap. Here are five things I learned that I’m sure will be useful to you too. 1. It starts with an idea For any entrepreneur out there, the first step they took towards starting their business is coming up with an idea. This may seem like the most basic step but thinking about a product that is marketable is key to overcoming the hurdles that will come in the future when it comes to financing and growth. So to start off, you need to figure out what you are going to be selling, how you will be selling it and who your target market will constitute of. 2. Understand the environment It is important to understand the environment you will be doing business in. Ask yourself, whose market share are you taking up with your startup and what are the opportunity costs. You need to pick out your competitors and understand their habits, they are factors that could contribute to determining your growth rate and customer base. 3. Approach investors Cold-calling investors is not the way to go. Try and build your contacts and get someone to introduce you to potential investors. When pitching to investors, keep your pitch skeletal and to the point. Try and demonstrate why you think your product is marketable and how it can make your way to profitability. In essence try and think like an investor and understand the risk-investor matrix of your business. Also, make sure that when you leave investor meetings, you clearly understand expectations from both sides and where you stand. This is because there is always the risk of buyer’s remorse with the investor, they may decide not to go ahead with funding the business. So do not relax until the money is in your account! 4. Find a partner A one person startup usually hinders investment opportunities. This is because it is difficult for one person to take on all the roles in a company. Therefore investors are more skeptical of putting resources into such a business. Finding the right partner and their potential long term contribution to your business can aid you in getting investors. 5. Consider self-funding When it comes to funding your business, look into self-funding through your savings, applying for grants and accelerator programs first. If you bring in a partner, you should be cautious of how much equity in your business they control. It is sometimes the case with start-up businesses that at the early stages, the partner is active in helping set up but once the business is up and running, their role is limited so having a huge percentage of equity is disadvantageous to you. Institutional investors are the later options to look into for funding.
Yoliswa Cele: To improve your career, absorb everything like a sponge
So, you want to know about working abroad, embarking on a new career or being a currency exchange entrepreneur? Look no further, we have someone who knows a lot about all three. Yoliswa Cele is a South African-born entrepreneur. She is also the co-founder and CEO of Ndosi Strategies, a start-up firm based in New York. Through Ndosi Strategies, Yoliswa provides accessible development services, curating partnerships, and international platforms. The firm presently enjoys relationships with partners and clients in the US, UK, and across Africa, specifically, South Africa. Here, Yoliswa answers questions on improving your career born from her years of experience. What challenges should one prepare for when venturing into either a known or new field of business? The spirit of self-sufficiency and triumph over adversity is the core of entrepreneurship. That spirit is innate in Africans, particularly its women. Jumping into a new territory will always require a certain level of research, strategizing and guts. These days, via social networks, and the general internet, we all have the capacity to research. Do a research on your field of interest. Learn about the dominant figures and trends. Attend related events to familiarize yourself with the network. Always be available for networking events, panels and receptions. Once there, interact with people on all levels within that space, from interns to Directors. During the learning process, everyone has something to offer. Make a strong impression by asking thoughtful concise questions that project your own interest in expanding in the industry. Most importantly, show the desire to learn. Follow up with emails, connect on LinkedIn, pay attention to the types of news/articles circulating around the field. Make contacts and seek mentorship if need be. Work to build a support network within the industry to ensure that you make the best decisions, and are included in any opportunity circulations that can further facilitate your professional development. What advice would you give a young professional woman looking to being a currency exchange entrepreneur and having to move to a different country? The international exchange rate is significant to doing business abroad. Benefits are real and most likely will be the incentive to move to foreign job markets. In that kind of situation, it’s important to maintain your awareness of the focus on bettering your circumstances. Make sure that your own goals or purpose for emigrating in the first place, aren’t lost in any romanticized fantasy about doing business abroad. Going into more wealthy economies can be distracting because the lifestyle and environment are new. But don’t get distracted with the flash. Be focused and committed. Business is subject to rules, regulations, and the financial terms that exist in each location. Internationally, you have to make yourself aware of the differences between African economies and foreign ones. This will help you take advantage of the ways they complement, or conflict with, each other. Use your purpose and observations, to strategize the best course of action for each stage of your business growth. Utilizing the huge amount of affordable/free businesses development resources at our disposal —from free social media marketing, to website domains that are the price of a Starbucks latté, to make real growth in your presence, profile, profit and notoriety. There are tons of stepping stones for aspiring entrepreneurs. Social media is a virtual bridge connecting all corners of the world. For example, if you are getting into the global market with the hopes of selling a product, a better first step economically, might be to opt for an e-commerce vs. attempting to rent a psychical shop, and taking on a hefty rent bill every month. Working around the currency difference takes a thorough analysis and resourcefulness. What should an intern or a professional pre-empt in terms of applying skills rather than just knowledge? I don’t know if there are exact or specific skills one should possess when starting out. But I would say, be a sponge. Absorb everything around you during your internship. Work hard, but also work smart. This means asking questions, showing interest, and being consistent in your work. Go over and beyond to stand out in an internship environment. It will without a doubt bring you strong skills and relationships when moving forward professionally. If you’d like to share your story with She Leads Africa, let us know more about you and your story here.
How well are you balancing work and life?
Remember my article on being a career woman and balancing relationships with mum? Now, because all good things come in pairs, (pause for a dramatic effect while you reminisce over your favourite pair of things… mmm double scoop pistachio gelato), I figured that one more stab at this topic was exactly what was needed. Yes, we need to lengthen, then conclude the discussion – cue memories of Goldilocks. Let’s talk balancing work and life this time. Right, you now know how I stumbled my way into an acceptable balance of a career, dealing with family members and still kept my mom largely proud of me. But how about we talk about you? How well can you do all I’ve been able to do without going through my very unorthodox methods? Well, hold your horses, people, ‘cos it’s Christmas and I come bearing gifts! Priorities matter. When I first realized I was finally living a life that overwhelmed me, the first thing I did was to immediately decide what my life’s priority was. For me, it was my job; I could deal with everything else in life if my job situation was fine. So, I paid very close attention to how I felt about my job. I knew that if my feelings changed from liking it to being frustrated, it would have a run-on effect on every other aspect of my life. So, it’s really simple, you have to center your world around something. It helps you with a constant point of balance when things go wildly out of sorts, ‘cos, truth is, they will. You know, life is nothing if not an unending series of ridiculous events. Carry your life along with you When we think about priorities, we often think of them as zero-sum games. I never thought of mine as that. See, I unconsciously realized that there were lots of little ‘good’ choices involved in deciding one’s priorities. So, though work was my primary priority, I still dedicated time to being social with my aunts and participating in their lives. I still shared life experiences with my mom and the rest of my family. There are only so many times you can miss plans before people begin to wonder if you really care about them. This can really hurt if this sentiment comes from those you hold most precious. To avoid this, it’s important that you carry everyone along with you and your life. Now, this doesn’t mean talking shop at dinner but letting them in on your life would help them understand your situation. They’ll understand that you’d spend more time with them if you could. (Don’t take the piss, though. Nobody likes a piss taker) Don’t be afraid to admit that you’re overwhelmed You’ve carried your folks along and they understand, but now nothing is going according to plan. You don’t want to come off as complaining because they’d think you’re just bad at managing things and you don’t deserve nice things. Sounds familiar? Don’t worry, this is very normal. Don’t laugh but I apparently missed school when this was taught. I kept trying to put on a brave face for everyone. But once I began to falter, I realized that it was okay to sometimes, not have things go as planned. Sometimes, you plan to the minutest detail (seriously, you need to plan! There are not enough hours in the day) and somehow things still don’t work out. You miss your mom’s birthday, your friend’s graduation and that deadline at work. You may feel like a failure on all fronts, which is fine. But instead of getting overwhelmed, struggling, and crying on the kitchen floor in your work pants like I used to do, admit it to yourself. Talk to a trusted person (preferably, someone you know has more on their plate than you do). Tell them what you’re going through and ask for advice on how to deal with them. I called my mom pretty much every day to moan and cry on the phone. I listened to her make light of my ‘giant’ issues and that helped. And always remember to take meaningful breaks Now, this point is very rich, coming from me. I’m the reigning champion of team ‘No Leaves’. 5 years! No, really I need a GoFundMe account for this, it’s no longer a joke. Of course, because how else can I afford an all-expense paid walking vacation to south-east Asia? No debates on this. You need breaks. Lots of them. I may not have been able to go on my dream walking vacation but I try dedicating some time during the week for myself. My current set up makes Saturdays free for me. I clean my house on Wednesdays so I can take the trash out on Thursday morning. This means that by Saturday, I can wash my hair, exfoliate my skin, put a mask on my face, do my nails, watch terrible movies, call my friends, cook and go out. Most Saturdays, I do all of these and more but on some others, all I manage is a cup of coffee as I sit at my laptop working. I work in a start-up, and so these things happen. However, even when I’m unable to do personal stuff during the week, I try to have a day to check in on myself. Because at the end of the day, it’s called work-life balance, right? There’s more to you than just work, family, and friends. You definitely need to take care of you because if you don’t, no one else will. Now that you know what to do, create a balance Finally, I know how hard it is being a young career-driven woman in this economy. But in our pursuit of success, let’s remember that the whole point of life is enjoyment and beautiful memories. Now I leave you with these ever charming words my father once said to me – “Your colleagues will only observe a minute of silence”.
Upgrade your PR Game: Lessons from Wimbart Global PR & Media #SheHiveLondon
Jessica Hope, founder and managing director of Wimbart PR joined us over the weekend at #SheHiveLondon. With over a decade of experience at places like iROKOTv, Jessica launched Wimbart Hope earlier this year. No matter the size of your business or brand, PR can help upgrade your business. In this installment of the #SheHiveLondon catch up, we share key takeaways from Jessica’s sessions on how to master the PR game. On the importance of PR for African businesses PR can help your business or brand majorly by giving you that all-important exposure. It expands your audience and helps prove that you are legit: it’s one thing to tell someone that you’re great, but when other publications or news outlets do it, it’s another level. Someone reads about you, they get curious and start to build trust in your product. That’s what brings you one step closer to closing a deal or making a sale. On starting her own business After over 10 years of building and honing her PR skills, Jessica Hope stepped out to launch one Wimbart PR. Wimbart found it’s niche: African Tech startups and it is flourishing. She never let any social challenges get in the way – recalling one time she went to an industry event six months pregnant and still managed to close multiple deals. She recognised that business is about making that personal connection. So by putting your real authentic self out there, all sorts of opportunities jump out at you. Mentoring also helped her to make the move from employee to M.D. Having worked for university friend turned iROKO TV CEO Jason Njoku, he encouraged her to take the plunge. On developing the right PR strategy Start to build your own narrative. Your narrative is the story of your brand and how your product is going to help customers. It’s what makes you unique and interesting. It’s not just about the story though, if you can back it up with good data and already have endorsements from other people, your story gets stronger. When you’ve crafted your story you can pitch it to publications, to in-house journalists and freelancers why can then feature your work to their audience of thousands (and maybe even millions if you’re lucky). On working well with the press Creating the right narrative isn’t the only important thing to do, you have to be a careful planner. Everything in publishing works on schedule, so if you’re interested in getting a story in for Christmas, you should be pitching it to publications months in advance. Ask around, go to industry events to meet journalists and get to know what they want. (That’s right networking is unavoidable, no matter how awkward it might seem at first). Remember many businesses are trying to do what you’re doing, and sometimes being one of the first to reach out to the press will give you the upper hand. Journalists are on strict schedules and also quite cynical make sure your pitch is high-quality, interesting and timely. Remember while the goal is to build your media presence, it doesn’t always happen overnight. Be patient and be prepared to get ignored at times, don’t worry, it happens to the best of us. Just stick with it, persistence pays off. On embracing the quirks of your brand or business To put it frankly, the fact that you exist is not news. When pitching your brand or business you need to think about what your ‘so what?’ is. News outlets get hundreds of stories a day, what is it about you that is specifically interesting? Jessica used the example of AfroEmoji. While the app was relatively simple, it was pitched to the international market as ‘Africa’s first Emoji brand’.The app got featured on CNN and the Huffington Post which led to thousands of downloads. Even though there were a few side-eyes about how the African Emojis all looked suspiciously Nigerian, the controversy helped the buzz and put it on the map. Embrace your quirks and let your personality come out. You can’t please everyone, no matter how hard you try. On building partnerships with the press The African business ecosystem is still being figured out by international media, this means that it can be tough to get noticed. You can help journalists out by giving them context and a full backstory around your journey so far. On the plus side, unlike some African publications, Western publications don’t usually charge for editorial features (nothing better than saving some $$$). Never forget that relationships with journalists can move from purely business to a more personal connection in the long-term. When you think of this as a journey, not just a one-time goal, developing PR partnerships comes right into your reach.