Want your business to break out? Create a whole new market
As entrepreneurs already know, finding clients can be a long, frustrating and expensive process. When you have little or no brand recognition, you have to work so much harder to get noticed in the market. I recently read in Entrepreneur Magazine, that “it is so important to prioritize future-minded strategy over short term opportunism”, and I completely agree with this. So what does this mean for a young woman who wants to set her business apart? To me it means that this is the time to look for new business opportunities which typically haven’t been as welcome or open to women. While we may be more familiar with industries like beauty and fashion which are easier to start from home, developing a future-minded strategy requires us to look at opportunities beyond ourselves such as construction and heavy industries. It is with such opportunities that we must understand that the only limitations we now have, are those we hold on as truth in our own minds. Being in the industrial sphere does not even always mean that you would have to get dirt under your fingernails; the takeover of technology in almost every business sector has opened up so many doors that the line to what is possible, and impossible has become almost invisible. Many entrepreneurs and CEO’s know that competing head-to-head with other entities can become daunting and cutthroat, more so when markets are slow and quite flat. All leaders in any business would agree that if there’s an easier alternative to get out of the head-to-head competing, and instead find a clear opportunity that has not yet been tapped; they would opt for that direction. In a world with hundreds of thousands of different products & services, innovation has become central to the survival of any new of mature business. Creating new markets for your entity requires just that, INNOVATION’. An article published by Harvard Business Review titled ‘Creating new markets’ stated that, ‘Most companies focus on matching and beating their rivals, and as a result their strategies tend to converge along the same basic dimensions of competition. Such companies share an implicit set of beliefs about “how we compete in our industry or in our strategic group.” They share a conventional wisdom about who their customers are and what they value, and about the scope of products and services their industry should be offering. The more that companies share this conventional wisdom about how they compete, the greater the competitive convergence. As rivals try to outdo one another, they end up competing solely on the basis of incremental improvements in cost or quality or both.’ So, the first thing to understand about creating new markets is that it requires a different pattern of strategic thinking. Instead of looking within the accepted boundaries that define how we compete, entrepreneurs should look systematically across them. By doing so, you can find unoccupied territory that represents a real breakthrough in value. Let’s have a look at UBER, a company that, instead of buying a fleet of cabs and competing head-to-head with other cab companies, decided to do something completely different. The founders of UBER could have innovated and stopped at how they could get hybrid cars as part of their strategy or maybe even offer more comfortable vehicles with WIFI connection and well-trained drivers. Instead, the founders looked at how to make the process easier for customers and developed a tech friendly solution that provides lower costs through accurate monitoring of the distance travelled and drivers trained to a standard level of service. By looking at the problem and the industry from another angle, they have created an entire market for themselves and disrupted an entrenched industry that had little innovation over the past 50 years. I doubt any of the UBER founders had ever driven a cab for a living or dreamt of being a cab driver. However they were able to capitalize on this opportunity because those who had been in that industry were very comfortable with the same old way that they had been operating for years. They couldn’t see the way technology could disrupt the industry and they missed the opportunity. When thinking about creating a new market the popular question “What are my competitors doing?” should immediately be followed by the question “What should my competitors be doing?” Or more bluntly, how can I bring those who could be my head-to-head competitors to my mercy? If you already have a product line, maybe look into a second generation product to help the financial standpoint of the company by creating a new market altogether. Finding secondary marketing can be as easy as adjusting packaging. Look at Coca-Cola or Kellogg’s, these companies have an array of products which aren’t worlds apart where taste or ingredients are concerned. Exhibit A would be the much loved amongst women market, the Special K cereal. Special K promises health benefits & sells fitness indirectly to us and what woman doesn’t want to be fit or at least healthy? Then have a look at Coco Pops, same company, different branding, a bit more sugar and even a cartoon character to attract the kids market. All these have proven to me that as an entrepreneur, your perspective seldom matters above that of the market. You may as the entrepreneur see things ‘Ok as they are’, but one thing you should always bare in mind is that you’re not selling these to yourself, so get into the mind of the market. Think the unthinkable. Now here’s the challenge: Go back to your businesses. Identify your ‘old ways of doing things’ and see how you could catapult yourself to being an industry leader by offering an entirely new way of doing business. Don’t lose sight of your original product or service but explore ways that you could make a similar product that’s targeted at a whole new market. A new market demographic could be a simple as age group, gender or even race. Start innovating. Research how you could infuse technology into your new or existing business. Technology is on the rise, you may just be a tech pioneer in
9 reasons you should (seriously) consider an internship
I started giving proper thought to my career during my second year at university. The buzz towards the end of that period was crazy, and getting an internship was all everyone seemed to talk about. The energy was amazing; everybody wanted to get into big firms, especially the investment banks. I would be having lunch, walking along the corridors, working in the computer labs and it was the same – Goldman Sachs this, JP Morgan that, Morgan Stanley, Credit Suisse, Merrill Lynch, Barclays Capital, Deutsche Bank, BNP Paribas…my head almost exploded at a point because that’s all I would hear about. I wasn’t particularly bothered about getting an internship because I had gained a considerable amount of part-time work experience up until that time, and I had a very well paying summer job coming up at Edexcel (now Pearson UK). I had really enjoyed doing the job the previous summer because of the large number of Nigerian students working there. It was serious fun and there must have been at least 100 of us young Nigerians working there at some point. Anyway, a great friend and classmate of mine, Chitra, asked me if I had applied to any of the investment banks. I said, “Nope, Edexcel pays very well and I enjoy the work.” She must have thought I was crazy, because she gave me an, ‘Are you ok? Can’t you see what your mates are doing?’ look. She managed to convince me to put in at least ONE application. I procrastinated for a few days before deciding to check the websites. Lo and behold, I was too late – I had missed all the application deadlines (or so I thought). I didn’t even feel bad, thinking ‘it wasn’t meant to be’. It must have been a few days later when she asked, “Did you check the Credit Suisse website?” I was like “Errr”…Anyway she told me it was still open and that the deadline was that day. I was like “Today? How am I supposed to get it done in a few hours?” Long story short, I dropped everything else, put in my application and forgot about it. I was convinced they wouldn’t call me because of how I rushed to get it done. Imagine my surprise when I got called for a telephone interview – I couldn’t believe it. I passed the phone interview, and was invited to attend a 9-hour assessment centre (story for another day). I somehow managed to make it through that successfully, and the rest, as they say, is history. It was an A M A Z I N G experience. I got to meet and learn from so many brilliant people and was especially fortunate to have a great boss who helped me gain clarity with regards to a decision I had been struggling with for a while, like whether or not to do a master’s degree – I ended up not doing it). Best of all, though, was the lunch. They had ALL sorts in there, Italian, Indian, Chinese – you name it. Even the dessert was nice. I always looked forward to lunch because of the many different options. Anyway, let me get down to the real reason I wrote this post. What competitive advantage did my 3 months at Credit Suisse give me? Why should YOU intern? Internships are one of the best ways to get your foot in the door in terms of getting a full time role. Work hard while you’re there, and there’s a good chance you’ll be asked back. I was made a full time offer for a graduate position immediately after my internship and this meant I didn’t have to worry about applying for jobs in my final year. Upgrade your CV Even if you’re not made an offer where you interned, the experience will seriously boost your CV and increase your chances of getting a job elsewhere. Test drive a career path you’re interested in I was bent on getting into the telecoms industry after graduation because I enjoyed all the telecoms modules I took as an undergrad. I’m glad I got a chance to intern because my experience at Credit Suisse was a key turning point in terms of helping me discover what I really enjoy doing. (I eventually did my NYSC at a telecoms company and I absolutely hated it). Develop key transferable skills An internship is a great opportunity to hone your existing skills and develop new ones, which employers are always looking out for when recruiting. Learn the importance of work ethic The workplace is very different from the school environment and the best way to learn work etiquette is in a real life work environment. Build your network You get to meet new people and build relationships you can leverage. ALL the jobs I’ve had since NYSC (and I mean ALL 5 jobs since 2009) have been through the network I’ve built over time. Get professional training I was ‘trained professionally’ for the first time during my internship. It was the Information Technology Infrastructure Library (ITIL) training and must have been worth around $150 at the time. Not only did I get it free, I learnt some concepts that I still use today. Earn a salary While some internships are unpaid, mine was very well paid and I remember thinking ‘WOW’. It gave me an idea of what I could possibly earn as a full time graduate trainee. Besides, who (especially as a student) doesn’t like some extra cash? 😀 Boost your confidence The experience seriously boosted my confidence because I had to hit the ground running in terms of the tasks I was assigned. I also had to learn and apply new concepts very quickly in a ‘real-life’ setting. This made me feel like I could achieve anything I set my mind to. So, what’s holding you back from an internship? I hear many young job seekers complaining about the lack of opportunities in terms of jobs
3 Things to do After You’ve Been Fired From a Job
With all that’s going on in the world right now, getting fired from a job is the last thing on your mind. It’s never a pleasant experience. For many people, getting fired is not just about losing a source of income, but also losing self-esteem and dignity. It can have devastating results. But we’re all about the bounce back here, so the potential setback in losing your job can be a hidden opportunity for your next come up. The key is in not spending too much time feeling sorry for yourself but investing the energy into something positive. So if you were fired from your job, here’s what to do now. Upgrade your skills Every disappointment can be a blessing in disguise. Losing your job can provide an opportunity to explore and learn more. Let’s face it, working underpaid means you probably don’t have that much time to pursue other projects. If you need some inspiration or guidance, check out SLA’s Online Classes and Expert Talks to get started today. Start your own business Why not use this time to start your own business? If you were afraid to quit your job and take the leap, your company just saved you from that problem. If you don’t already have a business idea in mind, look around you and think about those issues you are always complaining about. Someone shared on social media once how difficult it is to get breakfast at the workplace. Most eateries do not open to offer breakfast and if you have to leave your home very early to avoid traffic, then you probably don’t have the time. Can you start a breakfast delivery service or a smoothie shop? Looking for some inspiration and ideas? Check out the Start A Business section to learn from other young women who have gone out and started their own enterprises. Find another job Not everyone has what it takes to be an entrepreneur. So, if you feel the urge to look for another job, go ahead. There’s no shame in that. Brush up your CV, update your LinkedIn account, reach out to your network, and be on the lookout for job listings. Social media is a great way to build your reputation and let people know you’re looking for new opportunities. Getting fired may look like a huge downer, but with a positive attitude staying proactive, you may be on your way to turning that downer into a lift-off.
How to build a creative writing career
“Sow your seed in the morning and do not let your hand rest until the evening; for you do not know which will have success, whether this one or that one, or whether they will both do well.” Ecclesiastes 11:6 I saw a tweet some time ago where a young lady was looking to start off her writing career. She wanted an agent and was pleading with people in her circle to help her retweet her request until she got one. According to her tweet, she believed that would be the best way to kick start her writing career. She got 10 retweets but unfortunately no agent. Many people wait to take that big leap in their career or business until they find someone more experienced to help them. I think that is a mistake. We have to be independent and proactive in looking for new opportunities and we can’t wait for others to help us. If you’re looking to build a creative writing career, here are 10 things I think you should do to get started. Read from other writers The first step to take if you want to be a great writer is to read. Read a wide variety of books from classics to contemporary, fantasy to horror, romance to crime. Make it your goal to read at least one book every month. Better if you can read a book a week. Read as many short stories as you can find. Read until you find that genre that you get a lot of joy reading and you believe you’d be interested in exploring. Concentrate on your genre of choice Find as many authors as possible who have published works in this genre. Pay attention to their writing style: how they use words, how they tell their story and the unique techniques they use in telling their stories. There is always something to learn or borrow from other writers as you develop your own unique style. Start writing The use of social media in itself lends itself to writing. One of the best ways to be a writer is to write something every day. Your writing doesn’t have to be fantastic, it just has to be clear and readable. Aim to create suspense in your writing. Always ask yourself, can someone tell where this story will end from reading the first paragraph? Keep writing as part of your hustle From the outset, you will probably not make any money from writing. All across the globe creators are struggling to make ends meet. Even in Los Angeles which may seem like the centre of the creative universe, Jules Barusch says, “I’m not going to say it’s always easy. I am currently an actor, writer, and movie producer living in Los Angeles—but I also have to copy write and work in a hotel to make the ends meet“. It may be hard to accept but writing will probably have to take second place in your work life but you have to fit writing into your lifestyle. You may decide to write for 30 minutes every day after work or to have a 2,000-word short story available to share every weekend. Whatever you decide, ensure it is a consistent practice. Share your writing Don’t be too proud to beg. Send private messages to your friends and ask them to help you share your work. While you’re sharing, also ask them to provide you with feedback about your writing so you can better understand what your audience is looking for. Offer your writing service for free Yes, I am fully aware of the great “exposure cannot pay your bills debate” but exposure can pay your bills…eventually. Remember that as a writer you are building a portfolio. You don’t want that portfolio to be empty when someone who needs your services comes calling. And who says that someone is not among the readers of that journal you sent your short story to? Enter writing competitions You may not win but your writing will improve. Entering a competition means that you will ask more people to read what you have written and ask for their feedback. It also means that you may get the attention of judges who already work in the industry. Even if you do not win, someone may be impressed by your writing style and can follow up for further opportunities. Pray Pray that the stars align in your favour. A good friend once told me that heroes are made or destroyed every decade. I dare say that each new day is that start of a new decade. How do you know that today isn’t your day? Pray it is. Hope it is. Believe it is. Write some more Experiment with all types of writing. Try your hands on short stories, flash fictions, novellas and even a novel. Borrow ideas from different genres. Do not be afraid to push your creative limits. Remember, there are really no new stories there are just new ways to tell old stories. What would a Cinderella story look like if it was sci-fi? What if we created a horror Rapunzel? Push your mind to the edge. Keep on writing No matter what happens do not give up on your writing. Many think that if they are not discovered in the first few years of writing, then they should go do something else. But a majority of the well-known creative writers wrote for several years before their big break. Take for instance Paulo Coelho, author of one of the most profound books I have read, “The Alchemist“. He started writing in 1982 but it was not until 1994 that this book gained traction and went on became a best seller. The first publishers in 1988 only produced 900 copies and refused to reprint and more than 20 years later the book is an international bestseller. The Alchemist has become one of the best-selling books in history, selling more than 65 million copies, and even set the Guinness World Record for most translated book by a
Get these four mentoring elements right & reap the rewards
‘Get yourself a mentor!’ I bet most of you have heard this sentiment shared at one point or another during trying times in business or career. What always amazes me is the matter-of-fact way this is normally mentioned. When you get a chance to probe what precisely a mentoring relationship ought to look like, don’t be surprised to get a pair or two of blank stares. That’s the nature of buzzwords. Everyone throws them about but very few understand the process that one must follow to ensure a worthwhile mentoring relationship. When I started my business, I was told at the first business incubation meeting that no business succeeds without mentors. I bought into this; after all business advisors who have been in the game for some time said it. What they failed to mention though is the importance of structuring the relationship in a business-like manner to make it mutually responsive for both parties. ‘If it is not structured, it’s not going to work.’ Before we get some structure, let’s define what mentorship is. In its simplest form, mentorship is a relationship in which a more experienced or more knowledgeable person helps to guide a less experienced or less knowledgeable one. With this knowledge in mind, I went looking for a mentor and my criterion was simple: ‘experienced business owner who has made strides in the business world’. But guess what? The relationship never took off and I found it a tad bit contrived. Over the duration of my business, I have formed relationships with various mentors; some time-bound, others more regular and yet others sporadic based on need. I have also taken on mentees; some didn’t work out while others flourished. I have settled that structure makes or breaks a mentor/mentee relationship. Structure has been credited for the turnaround of Ford Motor Company when Allan Mulally, the former Chief Executive Officer (CEO) saved the company from bankruptcy. A structured approach to any intervention necessitates forward thinking. Without it, one is stuck in thinking in the now. Structure implies commitment and precision. And it is these two attributes that I found lacking in my previous relationships. I have, to my great dismay, found that lack of structure tends to be the norm in such relationships. Over the last two years, I have learnt that for a mentoring relationship to succeed, four elements need to be present. 1. Approach your potential mentor thoughtfully Check the mentors’ track record with prior mentees to ensure that they have added value to others. It also helps to have a specific request to approach them on and go there with a proposal on how you as the mentee hope to work with the mentor. 2. Have an agreement in place For some reason we think it’s okay to have written agreements for all other interventions but not for mentoring, which is why, in my opinion, these relationships do not work to their full potential. You need clear guidelines on time, boundaries and work plans. I have found that when you have it documented, both parties are held accountable to keep their end of the bargain. Most importantly, this enables you (and the mentor) to review the relationship periodically. 3. Understand your mentor beyond the surface Just as we are always advised to understand what makes our bosses tick, the same principle applies to mentors. Know what works best with them; do they prefer email communication, are they best called in the morning etc? Know what is important to them and how having you as a mentee is an added value to them. 4. You want the relationship, take charge of it The assumption is you wanted to have a mentor for a specific reason to ensure that you fulfill your goal. Doing so, requires you take control of the relationship. The mentor will not run after you, you need to do the running (until you’ve proven your value). Being timid will not get you anywhere neither will aggression. The trick is in striking a healthy balance. When you approach a mentoring relationship in the same structured way you would coaching or training, you force yourself and your mentor to put priority to the union. When your needs are clear, the mentor knows exactly how they can support you. The best part is both parties are accountable to each other, and with accountability comes measurement of impact and that is golden!
13 inspirational quotes to help you get through those devilish days
Some days can feel so terrible you think the entire world has some beef against you. You wake up to an empty generator tank, which means no hot bath for you, and while running late to work, your nice shoes get ruined in the rain. You make it to work, but at lunch time, just before it’s your turn, the canteen runs out of food. Then just before you’re about leaving for home, your boss gives you an assignment with a 3-hour deadline! You finally made it home but it’s not over. Your mother calls to say some girl in your secondary school class is getting married, and she’s wondering if she’ll be the last mother on earth with an unmarried daughter. On days like these when you just need a pick-me-up, you can be sure to count on She Leads Africa to swoop down and resuce you with some common sense. We’ve got 13 inspirational and motivational quotes to help you remember that today’s challenges won’t be there tomorrow. 1. Strive Masiyiwa – Founder of Econet Wireless “The opportunity is in the problem. The moment I see a problem, I immediately begin to think about the opportunities that can be created by trying to solve it.” 2. Teresa Mbagaya – Microsoft Education Lead, East & Southern Africa “On career, I’ve always remarked that absolutely no one but you is responsible for your career; as such, plan for your future. Ask for that promotion, ask to be included in strategic meetings, invest in your leadership and in your colleagues, ask to take lead of varied initiatives and best yet, bring your best self to world.” 3. Lupita Nyong’o – Actress “It’s only when you risk failure that you discover things. When you play it safe, you’re not expressing the utmost of your human experience.” 4. Kechi Okwuchi – Sosoliso plane crash survivor “I make decisions based on what I like – not what I look like.’’ 5. Kene Mkparu – MD / CEO at Filmhouse Cinemas “Consider what is in your hands, Africa needs your talent.” 6. Fred Swaniker – Founder of African Leadership Academy “Everywhere I went I experienced the wonderful beauty of our continent and saw the resilience and the spirit of our people, and at that time, I realized that I wanted to dedicate the rest of my life to making this continent great.” 7. Heshan de Silva – CEO of De Silva Group “You can never start a business based on what you like right now. Because what you liked 5 years ago, is not what you like today. So, have something deeper than what you like as a starting point.” 8. Uche Pedro – Founder of Bella Naija “Keep it simple, don’t try to do everything. Pick your lane and be the best at it.” 9. John Obidi – Social media strategist “It is not only important for you to become a superstar at what you do, it is necessary. There are people in your future counting on you to make it.” 10. Zain Asher – Anchor at CNN International “I don’t believe in competing for what I want, I believe in creating what I want.” 11. Nancy Kacungira – News Anchor “We need to begin a dialogue between ourselves… It’s time we start writing a new narrative that doesn’t focus on the struggle, but on progression.” 12. Aliko Dangote – Businessman “I built a conglomerate and emerged the richest black man in the world in 2008 but it didn’t happen overnight. It took me thirty years to get to where I am today. Youths of today aspire to be like me but they want to achieve it overnight. It’s not going to work. To build a successful business, you must start small and dream big. In the journey of entrepreneurship, tenacity of purpose is supreme.” 13. Chimamanda Adichie – Author “Of course I am not worried about intimidating men. The type of man who will be intimidated by me is exactly the type of man I have no interest in.”
#SisterhoodGoals: 2 things to learn from Lupita Nyong’o and Danai Gurira
Lupita Nyong’o and Danai Gurira are history makers individually and now, collectively. Eclipsed, the play Danai wrote and Lupita stars in, is the first Broadway production that has a female playwright, a female director, and an all-female cast. The play which premiered last week has received incredible reviews, and we, of course, expected nothing less from these powerhouses. Here are 2 things we learned about sisterhood, friendship, and business from these Motherland Moguls. Keep your promises, even if it takes a couple of years When Lupita arrived at Yale, the first role she was assigned to was to be an understudy in Eclipsed (written by Danai). From then on Lupita promised herself that she would one day do this play. She even mentioned the play in her first Vogue cover story and after a run at the Public Theater in 2015, Lupita emailed Danai and told her “Let’s do Eclipsed” and the rest is history. Have you promised to take a look at your friends resume or give feedback on a new purse design? Stop procrastinating and follow through on your commitment. As friends and sisters, we need to lend each other a helping hand. Your passion can inspire others In Variety magazine Danai stated “It’s very clear to me what my drive is. I tell African women’s stories. It doesn’t mean I don’t do other things, but that’s my thing. It’s rooted in a passion for that, and it’s rooted in a rage because I feel that they are so under- and misrepresented. I’m trying to link these two places, and have Africa be seen by the West in a more multidimensional, complex and celebratory way.” For Lupita, when she was deciding where to go to drama school, she was nervous about only doing work that focused on the Eurocentric point of view. When she arrived in the States from Kenya, she was so grateful that the first play she received was written by an African woman and focused on powerful female characters. Danai followed her passion and created a play that has given other young African women the opportunity to shine. Lupita was inspired and motivated by the play at the beginning of her professional acting career. How many other young, African women have been inspired by Lupita’s acting and activism all across the globe? Are you genuinely following your passions or you just managing with what you can do? You never know the impact your business idea, non-profit or role in a company can have on others. By following your passion, you can inspire and motivate others to achieve their goals. It can be easy to lose yourself on the journey to success. Sisterhood can challenge us to become better versions of ourselves and help us remember what is truly important. Sisterhood in our communities connects all of us like a spider web. If one part of the web tears we all feel it. Think about what we could collectively accomplish if we all kept our promises and helped motivate others like Lupita and Danai.
Is it a good idea to move back to Nigeria?
It seems like everyday, there’s another of your friends who is moving back to the promised land of Nigeria for a shot at making it big. They either grew up or attended schools in the UK, America or South Africa, etc. Our generation seems to be leading the great diaspora exodus from the comfortable Western world and jumping back into Nigeria for a chance to “make it”. But for those of us who aren’t yet convinced that moving back to Nigeria is the right move, there are typically a couple of questions that come to mind: – Are there are any real opportunities there that I can’t find anywhere else? – How do I even get situated in the job market and meet the people who can help me find a job? – What things should I be looking out for to make sure I don’t get hustled? – Should I ask for the same salary I made before? As founder of a recruitment firm specializing in connecting diaspora returnees (Nigerians who have studied/worked abroad) with top companies in Nigeria and a returnee myself, I’ve faced all of these questions and more. Here is some advice for you on the areas with the biggest opportunity and some helpful do’s and don’ts. Ready to move back? Employers want what you’re offering. Diaspora Nigerians (aka repats) are the ideal package for employers as they help bridge the capacity gap in-country while simultaneously fulfilling local content obligations. As Nigeria becomes more globally competitive, repats are in the best position to maximize on the opportunities that accompany such growth. Those on the fence about moving back are being seduced by the promise of endless champagne nights, parties, and lucrative money making ventures. However, as likely as this may be, it’s extremely important to make sure that you are fully prepared for dealing with all sides of Nigeria, not just the glitz and the glam. You must have a clear plan about meeting your basic needs, that aren’t so basic in Nigeria (e.g. housing, transportation, electricity), otherwise you are on a fast-track to misery and likely to leave without maximizing your full potential, but I digress! All things being equal, lets assume you’re prepared for the move, let’s move on to what opportunities are on ground that aren’t available in more developed markets. Opportunity: Old dog, new tricks Major multinationals that have been on the continent for decades have refocused their global priorities to favor their sub-Saharan markets, Nigeria, in particular. Their increased investment is due to the market size opportunity available here. Several companies have instituted specific programs for moving diaspora Nigerians to work full time in Nigeria indefinitely or for a set period of time. If you’re working in a company that has an office in Nigeria, definitely enquire about this, and move back corporate style. Nigeria’s new wave of transition has led to an increase in development projects in established industries such as infrastructure (power, water, roads, etc.), agriculture, manufacturing, telecommunications, healthcare, you name it! Innovation is driving Nigeria at the moment, so you have to find the right opportunity at a major firm for what you are passionate about and drive it home. Ecommerce Start-Ups This is the golden goose for young Nigerian professionals considering moving back. Start-ups are great ventures to move back to work for, especially if you have long-term entrepreneurial ambitions. I actually moved back with a popular ecommerce company many moons ago and my experience there was invaluable! They are extremely ambitious, have long-term growth strategies for Nigeria and Sub-Saharan Africa, and are looking for repatriated talent that has local understanding to really drive their objectives. There is immense opportunity for growth but just make sure you do your research on the right ones to join and ask detailed questions about your role, responsibilities, short-term and long-term objectives. If you are on the same page, the sky is the limit with a start-up. Do your thang If you have a bright idea, pursue it. Do this intelligently and fearlessly. The opportunity potential here is true, the time for new ideas is not dead, even if someone is doing what you want to do, the market is big enough for both of you. I have friends that own bakeries, fashion labels, financial services companies, blogs, consulting firms, farms, you name it and are actually successful (no expensive hobbies here). If you know what you want to do, do some serious research, speak to the right people, and carry-out your plan. If you provide a great service, you will have clients. This is a huge consumer population with growing pockets. Create, plan, and deliver. Do’s/Don’t DO be open minded to different opportunities that you wouldn’t have previously considered. You moved back for a change, so go ahead and try something different. DON’T just take any job that has the highest paycheck. Find something you’re passionate about and don’t feel pressured into a role that you won’t perform in. DO network with people that have different backgrounds. This is the best way to find new opportunities and friends that can help you get acclimated in a new city. DON’T have an entitled attitude. If you’re coming from abroad people are looking for you to show that, so surprise them. DO find things to do that remind you of your life back home (e.g. weekly manicure, grocery shopping/cooking, intramural sports teams). Moving back can move you out of your normal routine so find the things that keep you sane and feeling settled. DO keep following She Leads Africa to stay motivated and help you achieve your dreams Compensation This is an area that causes frustration for both returnees, the employers and the recruiter (aka me ☺). Employers tend to find repats “entitled” for expecting higher pay than market rate; repats expect to be paid internationally competitive salary’s given their education, and experience in other markets, and I, the recruiter, am stuck in the middle! When discussing salary with potential employers, it’s always best to do the following: Research
The purpose of business: The business of purpose
A few decades ago the notion of the Triple Bottom Line became commonplace. The phrase introduced the concept that businesses, particularly global brands, have a responsibility to ensure that their business and their business practices not only render to them (internal) economy prosperity, but that their business practices safeguards the environment, and delivers social responsibility (external). The Three E’s – economy, ecology and equity. More recently, the notion of sustainability and climate change has become a global dictate for ensuring and assessing the actions of corporations – again as a measure of ensuring that corporations take responsibility in and for their global business practices. This ensure that in operating their businesses, they are not in any way depleting the environment and livelihoods, nor negatively impacting the lives of future generations. As usual, naysayers thought it was all hogwash – a liberal, goody-goody notion that some had latched onto to make their businesses look good. A notion that was good for shareholder value and drenched in profit-making with little thought for ecology and equity. But I beg to differ. You see, the future is not only a place we are going, it is also a place we are creating – and as such there can be a trade off between the present and tomorrow, depending on how we live, and ultimately how we lead and how we do business. What am I driving at? I am very much interested in the idea of transformational business leadership as opposed to transactional business leadership. My premise is that business leadership should be transformational and purposeful, and not merely transactional. Your business leadership should have a positive and resounding transformational impact on your internal (staff) and external (clients, shareholders, and partners) stakeholders, to the extent that the leadership positively impacts society at large. Not my responsibility, I hear you say. Well, let’s look at the business landscape and how this notion is being played out in the business sector – and particularly by two women in business. PwC released its 19th Annual CEO Global Survey at the recently concluded World Economic Forum in Davos. Shannon Schuyler, President of PwC Foundation and Chief Corporate Responsibility and Purpose Officer, in an article in the Huffington Post, wrote that the 19th CEO Survey had revealed that while CEOs and companies may define purpose differently, for many ‘purpose is why their business exists’. More importantly, the CEOs noted that they recognise that companies have a wider responsibility to provide value to all stakeholders: ‘business profits and societal prosperity are inseparable: purpose is what aligns and unites them.’ Ms Shannon words were music to my ears. Essentially, global business leaders accept that business is not merely a secular, transactional act, but an intellectual and purposeful act to respond profoundly to societal needs. And that is why you need transformational leaders, leaders with unusual, far sighted ways of thinking and doing, to lead businesses – and ultimately – to shape societies. Jen Lim is the CEO and Chief Happiness Officer of Delivering Happiness – a company she co-founded to inspire science-based happiness, passion and purpose at home, work and in everyday life. For Delivering Happiness, companies can successfully use happiness as a business model to increase productivity and profitability, proving that companies with a higher sense of purpose outperform others by 400%. Here’s the premise My premise is that the higher sense of purpose, the ‘why’ of your business, is the strategic and leadership responsibility of the business leader to know, own, cascade and secure buy-in into by internal and external stakeholders. People generally are always pursuing happiness. They want to be part of something big and bigger than themselves – and what a better place to know and find that than the place where they spend two-thirds of their day, i.e. work? For me, it will take transformational leadership to build the business of your dreams. It will take transformational leadership to have a sustainable business. And it will take transformational leadership to have a truly loyal, dynamic and productive set of internal stakeholders – as well as a set of external stakeholders that render you and your business profit. The transformational business leader is concerned about all their stakeholders – the enterprise itself, the clients, their staff, their business partners – and they go out of their way to identify the needs of each one, after which they seek to arrive at a place of business operations that delivers joint value to all stakeholders. Ms. Schuyler delivered superbly on an enthralling Twitter chat on 18th February about using purpose to drive business. She demonstrated explicitly that in businesses, purpose leads to more innovation, focus, human intensity and quality – and that each of these drive profit. Business therefore is not only a commercial transaction for financial gain but also a potentially transformational endeavour for financial and societal good. Business is purposeful, and there is business in purpose.
Want to go to Harvard Business School? Here’s how these African women made it happen
Harvard Business School is arguably the world’s most popular and influential institution of business education in the world. With alumni leading the globe’s most powerful companies, it’s no wonder that many Motherland Moguls have HBS at the top of their list for their MBAs. We’ve caught up with two HBS students to learn about why they chose the school, the strategy they used for their applications and their best resources during the application period. Maimouna Diakhaby MBA Class of 2016 Country of Origin: Guinea Pre-MBA Job: Business Analyst at Rio Tinto Favourite Class: Managing International Trade and Investment Why did you think an MBA was the right step for you in your professional journey and why did you think HBS was the best place for you? After 4 years of work experience, I knew it was time to round my analytical skills with leadership and management skills. I was also looking for an education that would give me a comprehensive understanding of how different parts of an organization fit together to create value. While there are amazing programs in the US for any aspiring student, my first choice was Harvard Business School for 2 keys reasons: First, the school’s leadership focus was not only used for promotional reasons but also embedded in the entire curriculum. At HBS, every case discussion puts you in the shoes of a leader (CEO, head of state…) and forces you to make a decision that could change the course of an organization. The school attracts, selects and shapes individuals who are striving for technical excellence and looking to have an impact and influence the environment they live in. The other reason I chose HBS relates to the school’s branding in Africa. As a woman looking to contribute to the continent’s development, I wanted to get a degree from a school with a strong reputation. In fact, women are too often relegated to more “feminine” roles and rarely taken seriously in some regions. The HBS network and reputation in Africa will hopefully allow me to break those barriers and focus on creating value. How did you stand out in your application and show the admissions committee what you could offer the school? It’s really hard to isolate what made me stand out. The admission office states that it looks for a well-rounded applicant and that all aspects of an application are equally important. In my application, I just tried to convey my story in a coherent and comprehensive way. I made sure to present all aspects of my background- strength and weaknesses included. I strongly believed that if HBS was truly a place where I would thrive, my true ambitions and flaws would be accepted. I also believe that showing that I was a “balanced” prospective student played an important role. The typical HBS student has had a successful career coupled with strong extra-curriculum involvement that truly reflects their passions. What area of your application did you spend the most time on and what was your strategy? I spent the most time crafting my essay. I must have read it a thousand times (no jokes). I really wanted to make sure that it was an accurate reflection of my personality and would effectively allow the admission team to assess the kind of leader I was aspiring to become. It is really important for prospective students to make sure their essay is coherent with the rest of their application. Also, use it as a platform to introduce yourself without exaggeration or disguise. What resources/websites/programs were helpful for you during your application process? GMAT Club is a fantastic resource. Most MBA students I know have referred to it at one point or another. People use it to ask questions, share information with other applicants or just learn useful tips on the gmat. The Manhattan GMAT preparation books were also my go-to reference while prepping for the test. READ MORE: Founder of MBA Mama shares with us her advice on successful family planning during your MBA Sola Olaniyan-Bright MBA Class of 2016 Country of origin: Nigeria Pre-MBA job: Adidas Group Finance, Germany Concentration at HBS: We don’t have official concentrations but I’ve had the most electives in the fields of Entrepreneurship and Start-up Finance. Favorite classes so far: Three come to mind: 1. Entrepreneurship and Global Capitalism: a business history course that studies the lives and journeys of successful businessmen and women from the 18th century till date. I loved this class because it challenged us to study different aspects of the world’s biggest entrepreneurs and to form our own opinions on the decisions they made from a financial, moral, and ethical standpoint which, of course, ended up being very personal for everyone who took the class. 2. Entrepreneurial Finance: We studied the mechanics of businesses, mostly start-ups, from idea to execution primarily through the lens of investing and other financing decisions. 3. Business, Government, and the International Economy (popularly known as BGIE): It’s macroeconomics in practice where we study a different country every class to understand the underlying drivers of their performance and sometimes predict the future of their economies over time. Why did you think an MBA was the right step for you in your professional journey and why did you think HBS was the best place for you? Pursuing a graduate degree is something I’d always known I wanted to do. Having studied Accounting at university and completed the ACCA exams (chartered accounting qualification), I was initially looking to do an MSc in Financial Engineering or something along the lines of strengthening my roots in finance. However, after 5 years in asset management and management consulting across various industries, I knew I wanted to go for a degree that would be much more than an academic exercise. I wanted a degree that would better equip me to be a rounded business leader by exposing me to as many different aspects of business as possible while keeping me globally competitive and this made an MBA a clear choice. I chose HBS for 3 reasons the brand, the learning style (case method), and the network. The brand is very strong especially on the African continent and of course beyond. The case method puts you in the driver’s seat of