Key steps to finding your voice
Like many girls and young women growing up in a patriarchal culture, I embodied this “less than” attitude as I grew up. While women are leaders in many regards, there is still a shadow that we live under. Women may have the education, the experience and the drive to successfully guide a team of people but still lack a well defined voice (and no, not “voice” as in Tenor and Bass). Voice in this case is an extension of the person. It’s their brand, their way of doing things, their expertise and how it is communicated. Those who show strong leadership skills have often developed this sense of voice throughout their careers. For those who haven’t, it may be time to examine it further. Determine your voice A women, we need to be familiar enough with our voices to know how we come across to peers, staff and clients. Our personal set of values is directly connected to this, what we stand for, our values, what people can learn from us. There is a need to be clear and concise about your voice, your stance and your ideas, and be sure that everything you do and say aligns with that. Look for inspiration There’s no shame in admiring the qualities of others, whether it’s a family member, a mentor, an industry leader, an iconic figure or a celebrity. Observe them closely. Have conversations with those you have access to. For those whom you don’t have access to, watch their public appearances and read their writing. Find them wherever they are, in business, politics, sports, TV and note down the characteristics that appeal to you. It is not enough to just admire someone, figure out what it is about them specifically that draws you in. Note their confidence, their ability to build relationships, their network, their charisma, their intense knowledge of a particular area. Identify what intrigues you and roll with it. There’s no need to reinvent the wheel. Experience matters All the important lessons learned throughout the beginning and progression of your career are a part of your professional voice. The decisions you’ve made, the wins and the losses, they help to make up who you are. One of the common mistakes women make is we feel that because we have a seat at the table and we say something, everything is good. It’s important for us to know that having a voice really means having a track record of success and accomplishments. That people want to listen to what you have to say because you’re saying something of value. So, use your voice and use it strategically. Experiment For those women leaders looking to evolve, especially those in the younger end of the workforce spectrum, it might be time for experimentation. Identify low-risk scenarios in which different approaches are feasible. For this experiment, try to make a decision with consensus, then in an authoritative tone and then one in the middle. After doing this, it will become clear what style fits you. You don’t have to do this in a high-risk client situation or in front of venture capitalists who will determine your funding future. Try making a plan with friends, getting your children to do what you need them to do, or sitting on a non-profit committee. Practice with your spouse, your friends, or your network. Just like building a business, this is a process. The earlier you are in your career, the more latitude you have to experiment. Your voice and leadership matters. When you begin to speak out for what you believe in and use your voice without apology, you not only empower yourself but all women and girls. You become a role model, and girls everywhere can begin to see themselves as leaders. You might not get it right in the first year, the first business, the first finance pitch, the first launch, or maybe even the second or third. But awareness is the first step.
Top quotes from SheHive Nairobi
SheHive Nairobi brought together aspiring Motherland Moguls and established speakers and personalities from diverse sectors. Those who missed can only hope for next time. In the meanwhile, these choice quotes from speakers are sure to inspire and motivate. Wanjira Longaeur, Radio and Television host Wanjira is a well-known radio host with Capital FM Kenya and television host with EbonyLife TV’s Moments Kenya. On the last day of SheHive, she spoke on the business of the entertainment industry. – “Do your best you never know who is watching.” – “Mindset helps. I chose to see opportunities everywhere and in everything I do.” – “If people want to tear you down, kill them with kindness.” – “One of the worst things a director can do is to leave their audience bored.” – “Entertainment keeps moving but the camera doesn’t play.” – “Ignorance is a choice. We are in 2016 for Pete’s sake! We have the internet!” Hilda Moraa, Founder and former CEO of Weza Tele Ltd Weza Tele’s industry is tech and at SheHive Nairobi, its founder Hilda shared tips on how to get started in the tech business. – “Failure has been the key ingredient in my success.” – “If you are sitting and thinking that you are a woman in business. Then you have to be at your best to compete.” – “Don’t fear sharing your ideas, sharing could give you much needed feedback. However, protect the uniqueness of your idea, Protect your team, talent, data and execution from competition.” Dr. Helen Gichoci, Managing Director, Equity Group Foundation As an ecologist Helen dished out insights from her experience being president of the African Conservation centre and African Wildlife Foundation. – “You got to have (thick) skin in the game for anything to be of value to you.” – “Form follows function in a business. Find the problem, opportunity and the service you want to offer and the business will follow suit.” Bob Collymore, CEO Safaricom Bob heads East Africa’s fastest growing company. His talk focused specifically on gender equality and inclusion in the workplace. – “Find your purpose, and then you won’t have to work for the rest of your life.” – “What is my personal drive? Trying to make a difference and leaving a positive footprint.” Lindsay Caldwell, Founder One Acre Fund Among her achievements, Lindsay is also an operations management specialist. – “You have to co-opt other ideas for your business to work.” Winnie Mwangi, VC fund Winnie has established her career working with investment companies. At SheHive Nairobi she talked about what investors look for in a business when deciding whether or not they will invest in it, – “When pitching to investors, under promise and over deliver.” – “Gerald George Patton said, ‘If everyone is thinking alike, then someone is not thinking.’” Eunice Nyala, Executive Coach, Etiquette Xllent Company At SheHive Nairobi, Eunice used her coaching experience to teach the audience how to develop leadership styles and how women leaders behave. – “We admire people who have etiquette. If you don’t have it, work on it. Start working on your tone.” – “Women should dress the part, it’s one of the most important visuals we are judged upon.”
How uncertainty in your business can drive success
Entrepreneurs are especially vulnerable to uncertainty. It was the late Anita Roddick, founder of the Body Shop, who said; “nobody talks about entrepreneurship as a survival skill, but that is exactly what it is – and what nurtures creative thinking”. Entrepreneurs are not readily assured of a monthly salary. This even while saddled with monthly costs and expenditures of running a business. All such incidences can make the times uncertain and it can be tough. All times are uncertain as we all live in the moment. Today, a business can enjoy increased sales and better client engagement. Yet, that doesn’t mean that the business future we desire is certain. The price and the prize of entrepreneurship The price of entrepreneurship is uncertainty, and the prize is a vision fulfilled, success even in the midst of uncertainty. Much of the process of entrepreneurship involves tremendous risk taking. Risk that is buoyed with competency, skills, ability, networking, service excellence and then good fortune. It is often the uncertainty in those moments that fuels your drive to success. I think that is what Anita meant when she said that the survival nature of entrepreneurship fuels creativity. Uncertainty, the fuel for the drive to success It has been said that the best way to predict the future is to create it. In other words, create your own certainties. What are those things that you are certain of in your business? Could it be your expertise? Could your certainty be the adaptable leadership of your organisation? Whatever you’re sure of can enable you to better anticipate black swans. Black swans are those rare, high impact and unpredictable events that bring serious consequences. We can’t predict tough times, but we can develop the resilience to cope with them. A case study of resilience How is that resilience developed? That goes to the heart of why a business exists. It goes into how a business is operated, knowing how to look uncertainty in the eye and knowing its limits. Imagine the amount of businesses across West Africa that were affected by the Ebola crisis of two years ago. One such business was the The Radisson Blu. The Radisson Blu had just opened in Freetown, Sierra Leone. The city’s only international hotel chain, its owners must have looked forward to a surge of business. There was a scarcity of high quality international hotels in Sierra Leone, and the Radisson Blu was tipped to take advantage of the growing number of business travellers coming into Freetown –from mining companies, to UN and NGO staff, to professional services firms. Recently refurbished, the hotel was ready for business. And then Ebola happened. A major exodus of nationals and expatriates followed, as did an extreme decline in business travellers. Even nationals who might have enjoyed an evening meal or Sunday lunch with the family at Radisson Blu shied away fearing the dangers of coming in contact with bodily fluids from others. Staring uncertainty in the eye, the GM of Radisson Blu was decisive. Committed to his position as a leader, when everyone was leaving Freetown, he stayed -instilling trust, loyalty and confidence from his team as he did so. With the dip in business, Radisson Blu was forced to consider the inevitable –laying off the very staff they had invested massively in through hospitality and wellness training. Relying on the support of unions, the issues at hand were discussed with staff. Everyone agreed to remain in their positions whilst taking a salary cut. What that lead to was tremendous team spirit, motivation and increased loyalty. Then when the international public health and disease control experts started coming into Freetown to manage Ebola, many checked into the Radisson Blu. Best practice There is something to be said for strong leadership and best practice, those standards and practices that govern how an entity or a professional service is operated. Deciding to deploy those standards in the operations of your business from day one, or as early as possible, is a plus. Whilst others may think you are creating unnecessary bottlenecks for your business, best practice can stand you out in the long term. For Radisson Blu, I imagine it must have been this best practice that rendered them the first choice hotel for those health workers, international reporters and international administrators that flew into Freetown to respond to the Ebola crisis. We can’t always prevent uncertainties –otherwise they would not be called that– but we can develop our resilience and capacity to cope better with them. And we can do this through a process that I call “paying attention to the way you pay attention”.
Minding your own business: the strategic and leadership responsibility
Minding your own business is very important as a leader or CEO. Leaders of any kind have three fundamental responsibilities – crafting a vision, building followers, and championing execution. Whether you are a celebrated musician, entertainer, actor, politician or business person, you become a leader the day your vision starts to gain a following and people start paying real attention to what it is that you are doing. This is where the responsibility of leadership actually begins – in continuing to gain the wilful interest and attention of followers (clients, business partners, staff) through the art of your work and business. Even as you champion execution in original and remarkable ways. Minding your own business That process is what I call minding your own business. Minding your own business here means paying deep attention to the way that you operate, direct and lead your business. All this so that the end game can be a masterpiece. Fanciful? Not so. The most successful businesses are led by CEOs who are usually atypical in the way that they think and do. That is what gains them recognition, that is why the world begins to pay attention. These CEOs think deeply about their business service and or product. They think laterally about the potential outputs and products of their work. And they do different through their thought leadership. Many years ago I was in a two-day strategic planning workshop in Nairobi, Kenya. There we had been tasked to imagine a new future, to see who our clients would be in 5, 10 and 15 years time. We were tasked to think about how we would engage with those clients in subtle yet strong ways. We also had to complete the same exercise for our staff. What competencies, skills or disciplinary expertise would we want and need in our future staff? What would it mean for the operations and administration of our firm today? The implications for today were important because we want to create a future, not to arrive at a future that we had not made ourselves. Creating your future I remember being completely mind-boggled by the exercise. The projected requirements some members of our team were coming up with seemed improbable and fantastic. Yet they were inspiring. From renewable and clean energy consultants, to sustainable agriculture experts, to corporate responsibility consultants. These may seem obvious now, but 15 years ago it was not. Back then consulting involved business process re-engineering, financial management, human resource management and the likes. No one was really thinking of consulting in these ‘new age’ disciplines. But therein lies the responsibility of minding your own business. The amazing thing was that even though the process started slowly, some ten minutes into the exercise a new electrifying energy filled the room. As one person dared to imagine, we all started to imagine. Even as we imagined what the business might look like in years to come, we all got excited about the part that we individually would play in that new future. I think that was what really stirred the energy. Suddenly everyone’s work and contribution became meaningful. Our leader had started the process of championing execution. Imagine and create new possibilities Eight years ago in Lagos, Nigeria, my team sat in consultation to the then Governor of Lagos State, Babatunde Raji Fashola, advising him and his commissioners on their respective medium term sector strategies. We imagined a Lagos where priority was placed on adherence to the rule of law and on a culture of proactive service delivery. We imagined a Lagos exemplified by physical, artistic and cultural attractions with international appeal. A clean environment of aesthetic beauty and serenity. A Lagos where there is security of life and of property. Where was this Lagos? It was in the mind of our future. Effective business leaders set aside time to imagine and examine new possibilities, even though they may not immediately know the ‘how to’. It is the process of imagining and being committed to new possibilities that is actually the most critical part of being strategic as a leader. We don’t reject an idea just because we are not sure of ‘the how’. The best of business leaders are risk takers, doers, and the makers of things. It is time to start minding your business.
Five essential books on leadership
One of the best ways to become a leader is by soaking up advice from those who got there before you. A plethora of leadership books exist and it can be daunting to decide where to start. You may want to go with popular books like “The 48 Laws of Power” or you may consider this list which spices things up by choosing books with a specific kind of woman in mind. Whether you’re the woman whose family and friends dismiss her anxiety because “Africans don’t deal with that” or you’re struggling to find a balance between being a wife, mother, daughter, aunty, bff and/or businesswoman, we’ve got a book on leadership for you. “#Girlboss” by Sophia Amoruso: For the woman who doesn’t have time for the haters Sophia Amoruso is the founder of Nasty Gal, an online fashion retailer worth over $250 million. When she was 22 years old, she was broke and had spent most of her teens on the road and shoplifting. “#Girlboss” is a book for the a typical CEO, it charts Amoruso’s ascendance into success offering practical life and career advice. This one is for the women who walk the unbeaten path and have to listen to people asking them why they are setting up a puff-puff business when they haven’t yet married. In “#Girlboss” Amoruso reminds us to be loyal to our passions and remain nonconforming. “Flying Without a Net: Turn Fear of Change into Fuel for Success” by Thomas J. DeLong: For the anxious #MotherlandMogul “Flying Without a Net” is a useful guide to anxious professionals. Fear of the unknown is very real for some of us. It holds us back from new challenges and dims our brightness by making us vulnerable. In this book, Thomas J. DeLong, Harvard Business School professor, teaches how to deal with fears and to turn vulnerability into strength. “Flying Without a Net” is essential learning on how to confront fears and improve on your courage. “The First-Time Manager” by Loren B. Belker, Jim McCormick and Gary S. Topchik: For the newbie just starting out Called the “ultimate guide for anyone starting his or her career in management”, “The First-Time Manager” is effectively a beginner’s guide. This book is great for newbies venturing into the worlds of management and entrepreneurship. It offers easy advice on diverse topics from discovering your management style and hiring and keeping your staff motivated to dealing with bosses and leading meetings. “Nice Girls Don’t Get the Corner Office: Unconscious Mistakes Women Make That Sabotage Their Careers” by Lois P. Frankel: For the good girl ready to go bad Apparently nice girls carry last. You may be making huge mistakes in your career by being overly likeable. “Nice Girls Don’t Get the Corner Office” is a must-have for business women. It shows that being a nice girl may not be the best way to take charge of your career. Lois Frankel coaches us on getting rid of unconscious mistakes such as multi-tasking and not negotiating. “The Emperor’s Handbook: A New Translation of the Meditations” by Marcus Aurelius: For the multitasking woman This list won’t be complete without one from history. Marcus Aurelius ruled Rome from 161 to 180 A.D, he was also a legislator, a parent, a military officer, a political leader and a spouse. No wonder, Aurelius is considered to be one of the most powerful and respectable leaders in history. And where better to learn than from a leader whose name is remembered thousands of years after his death? “The Emperor’s Handbook” brings timeless lesson from a Roman emperor to readers of today. It is a translation of Aurelius’s private personal notes on life, leadership and everyday advice. What kind of leadership books is for a woman like you? Share them with us.
The mentorship advantage
Sugar. Spice. And everything nice. What do you need to be a successful entrepreneur? More than it takes to make the Powerpuff Girls. Some say passion, commitment, and willpower are top of the list —all very true. I believe to be a successful entrepreneur you need a viable business model and a good mentor. What is the role of a mentor? One of my favorite books on this topic is, “Expect to win: 10 Proven Strategies for Thriving in the Workplace” by Carla A. Harris. She defines a mentor as “someone you rely upon to give you good, tailored developmental advice”. According to Futurpreneur Canada, the advantages of having a mentor are described in six points. A mentor helps you: Gain insights and perspective by having someone to bounce your ideas off of Focus on and strategically work towards your business vision Shorten your learning curve Identify opportunities and risk by learning with someone experienced Grow and enhance your business network and acumen Build confidence knowing you have someone in your corner Key traits of mentors As I write this, I think of all my mentors and the two key traits they all share: Expertise and integrity: Find a mentor you believe to be brilliant, knowledgeable and trust worthy. You want your mentor to be someone you will listen to because you trust their expertise Genuine interest in my development: This is what I call the mentor/mentee chemistry. Choose a mentor who is genuinely interested in who you are, understands your strengths and weakness and wants to help you develop and grow. Mentorship is a deep and personal relationship and for the relationship to be truly useful, you both must feel safe sharing the “good, bad and ugly” How to be a good mentee Having discussed the importance of mentorship and what to look for in a mentor, how do you become a good mentee? Listen Consider the advice you get and apply when relevant (This is why your mentor has to be someone you can trust) Set SMART goals and hold yourself accountable Ask for feedback and provide feedback in return Be honest and communicate openly with your mentor Invest time and effort in your relationship Most importantly, as a mentee, remember to pay it forward Peer mentorship is a form of mentorship that is often neglected but I find very valuable especially in my professional and business life. Keep in mind; your mentor must have some expertise and be genuinely interested in who you are and your development from a point of low self-interest. Many times, you can find these qualities in a peer. To my mentors: Thank you for teaching me to be positive and fiercely myself. Reminding me I have all I need, to be who I want to be—a healthy mind and body. Thank you for demanding I think big. Because, why the heck not.
Building networking relationships that last
I don’t remember ever feeling comfortable in networking situations and when I had to introduce myself to a group of strangers. But the thing is, these nerve-wracking conversations could lead to critical personal and professional opportunities. Think about it! You are probably where you are in your career or as an enlightened person due to communal effort. The contribution of those around us in our individual advancement cannot be downplayed. Your network is your net worth… And we’re always one or two persons away from getting what we need. All we have to do is reach out to people we know. Mildred Apenyo, an entrepreneur and the founder of FitcliqueAfrica, was able to secure space for her women’s only gym through her network, for example. One of the trainers she worked with connected her to a family that owns a hotel and they agreed to let her turn one of their conference rooms into a fitness space. This saved her a lot of time and the resources that would have gone into searching for a usable space throughout her city. Whatever you do, don’t network just for the sake of it. Most of us are consumed with attending all the events out there and collecting as many business cards possible. Post ‘networking’ binge, we always find ourselves stuck in a rut, wondering if it was all even worth it. The key is to be deliberate about the events you attend. Show up ready to mingle. Once you get the contact information you need, don’t let it sit there gathering dust. Take action. Remember that networking is a process that requires on to be proactive. What keeps us from taking action? The fear of rejection There’s always a chance that our attempts at fostering relationships will be rejected. It’s only natural for us to avoid instances where rejection is a possibility. The thing about life however, is that nothing is certain, so you might as well try. The worst that could happen is that they’ll say ‘no.’ But remember, with every ‘no’ you are one step closer to a YES! Being stuck in our comfort zones Networking takes time, effort, energy and resources – things that a lot of us unfortunately see as ‘doing too much.’ “They have my contact information, if they are interested they will reach out,” we say. “Why should I follow up with an email or a call?” we wonder. We think that just attending the event and putting in face time is enough. It is not, unfortunately. You have to nurture the relationships. Make initial contact, follow up with in-person meetings and grow from there. Getting things done As Martha C. White outlines in TIME, it’s increasingly becoming clear that for networking to work, we have to shift from the ‘What’s in it for me?’ mindset. It is imperative to understand that there is a mutual exchange in this process. Networking is not just about accumulating a list of contacts that you can reach out to when the need arises. It is more about building real relationships that involve active participation of give and take between both parties. Depending on your situation, you need to first identify the people you would like to connect with. It could be someone you want to learn from professionally or an investor who you think might be interested in your business concept. Once the individual has been identified, the first step you take in approaching them could either seal the deal or break it. You might be tempted to bombard them with information about yourself or your potential business, but it is not about you. Remember? Your first introduction should be about connecting with that person. Show them that you are genuinely interested in what they do and what they have to say. Create an atmosphere that compels them to talk about themselves. Ask thoughtful questions and actively listen to their responses. This will build a good rapport that will seamlessly lead to a conversation about you. You have connected, what’s next? At this point, there’s only one thing left. Follow up. Follow up. Follow up! The sooner you hit the ground running, the better. Business etiquette expert Jacqueline Whitmore asserts relationships take time to be built. In order for you to build a strong professional network, mastering the art of the follow up is necessary. A quick email post the event will do. It doesn’t have to be long but it should contain the fundamentals. Begin by thanking the person for their time. If you had a very nice conversation about a particular topic, this could be the starting point to setting up the next meeting. Apart from that, it is also important to keep in mind a few details about the conversation you had. What were the other parties’ needs and how can you be involved in meeting those. Always seek out ways you can help your new contact without expecting anything in return. The level of trust will build over time if you do this.
The mind of a champion: Lessons from Blessing Okagbare and Serena Williams
Sport champions like Blessing Okagbare and Serena Williams are perfect examples of how each of us, as entrepreneurs and professionals, can attain greatness when we aim to improve our personal best. Blessing is a Nigerian track and field athlete, who is an Olympic and IAAF World Championships medalist in the long jump, and a world medalist in the 200 metres. Serena is undeniably one of the most dominating sports champions of our generation. She has won a title in all four International Grand Slam tournaments and is also an Olympic gold medalist. Blessing’s Olympic medal wins and Serena’s tennis successes serve as reminders of excellence to all of us. They have spent many years training to be champions. Along the way, they have achieved multiple milestones, actively taken part in smaller competitions and peaked at the right moment. When they put their hard-earned skills into practice and keep their eyes on the prize, it’s their time to shine. As entrepreneurs what lessons can we learn from these phenomenal women? Keep training Like every successful athlete, successful entrepreneurs must never stop training. That means keeping your skills fresh and your talents sharpened, so that you’re always one step ahead of the competition. Keep learning, networking and trying to improve yourself and your business. The process is continual but it is powerful and fun if you love what you are doing. Have a support system Every champion has a team behind them. You can’t do everything on your own. Especially when training is getting difficult or the competition is tough. Build a strong network that will support you and help you reach the top. If you do not have a mentor find one, or at the very least seek role models who will inspire you. Make sure those who are part of your team hold you accountable and keep you focused. Celebrate your achievements What moment are you seeking? As you strive to attain greatness, ask yourself at what point will you feel like you’ve won your Gold Medal or Trophy. Never forget that no matter how much competition is out there, or how long it takes to achieve YOUR own personal best, each and every one of us can get a medal. So go out there and get it! It is easy to discount all your achievements as you seek even better ones, but don’t overlook your moment. When your moment comes, make sure you celebrate! I’m really exciting. I smile a lot, I win a lot, and I’m really sexy.” – Serena Williams Do not fear competition Keep your eyes on the prize in your business and professional life. Have clearly defined strategies and goals that will make you a champion. In his book, The Winner’s Mind, Allen Fox explains, “Unconscious fear of failure saps the will to win by distorting perceptions and causing competitors to hesitate to compete, procrastinate, lie to themselves, blame others, fail to finish tasks, and panic on the verge of victory.” Do not fear competition. As entrepreneurs competition is necessary and mandatory in the marketplace. It will help to motivate you to be better. Use it to empower yourself along the way and do not be afraid of winning! Learn from your mistakes Being in business isn’t about never failing, it’s about knowing what to do when failure strikes! You must not allow failure to block your path to excellence. When a sportswoman like Blessing loses a race, do you think she laments about her loss for so long that it stops her from running? No, she stays focused, perfects her skills and works harder. It’s the same with Serena. If she misses a serve or loses a match she does not let her mistakes consume her. She uses her mistakes as stepping stones to doing better the next time.
7 things I learned from my first startup failure
At the beginning of 2014, Kegaugetswe Florence Mukwevho and her two business partners started a food company. The startup, which launched in April of that year, was on a mission to create youth employment by operating a low cost, scalable mobile kitchen for a local growing chicken brand. The business was doing well in its first few months; sales were high, showing that there was a market for the product and service they offered. Startups in their early stages need funding for growth and expansion and this was the case for the food company. Kega came across the 2014 She Leads Africa Entrepreneur Showcase and thought that it provided a great opportunity for the company to get much-needed funds. With the support of her co-founders, she applied and was selected as one of the top 10 finalists. Although she didn’t win the competition, she received great feedback from the judges and mentors and support from the SLA team. Upon her return home however, Kega noticed that the dynamics in the company had shifted. In partnerships, group dynamics can bring synergy or divide at the expense of the business. The latter was the case for the food startup. Ultimately, the three entrepreneurs decided to go their separate ways. Although it has been a difficult journey, Kega shares firsthand what she learned from the failure of her first startup. 1. Have a partnership agreement Our business relationship was going so well in the first few months that we delayed creating a partnership agreement. For me, it was unspoken. Our official agreement came much later as a reaction to issues rather than as a proactive step in the initial phase. It is important that one does not assume that common sense is common to everyone. We are all human beings with different backgrounds therefore we do not think the same way. “We could have avoided some disagreements by clearly putting down expectations regarding our roles and responsibilities, how to run the business, funding and equity earlier on.” Make sure you seek assistance from mentors and other entrepreneurs to get an idea of some of the real issues that may arise in your business. 2. Be 100% involved in your company When we started the business, we were full-time students with the exception of one partner who was studying part-time. As such, he was the operational partner and was on site all the time. Starting a business is no easy task and it is well known that the failure rate for new startups is very high within the first 18 months. It is during this infant stage that a business needs the most tender, love, and care. I was juggling being a full-time student and a business partner. As a result, I did not give the business the undivided focus and attention it needed during this critical stage. Not only did this hurt the business but it also placed a greater burden on my partners. “We did not realize from the get-go the kind of hands on involvement and input we needed in order to thrive.” I wish I knew then the importance of being more involved in the daily running of the business. 3. Things are not always as they seem Business is about testing assumptions. While we might have had a very convincing story on paper including a probable financial model, things don’t always turn out the way we envision them. According to our business plan, we were set for success. In drafting any budget, there is a principle that you “overstate your costs and liabilities and you understate your revenue and assets”. This is particularly important for a startup. We did not prepare for the worst case scenario and found ourselves running into serious cash flow problems. It may seem like everything will go well, but things do fall apart. You must be prepared for the possibility of failure. When it comes to financial modelling, you should rather exaggerate your costs and other expenditures by using the worst case scenario, just to be safe. Also, financially, physically and emotionally, prepare yourself to not be profitable for the first few months. 4. Don’t underestimate your competition We chose to locate our business in a township. We assumed that because we were selling grilled chicken, it would be better to sell it near a large hospital because people would want a healthier alternative. Unfortunately, this was not the case. We had underestimated our competition. Although there wasn’t a flame grilled chicken option in that area at the time, we had competition from people selling cakes and other fatty foods. The market wasn’t open to having healthier alternatives. Our competitors had already realized this. 5. Invest in a stellar marketing strategy< Around October of last year, our sales were increasing organically because it was the festive season. But even then, we knew there were certain challenges. In the beginning, business was good because we had a new product that people wanted to try out. But in the long term, it was not. People tasted our chicken and liked it but in that township, eating chicken was more of a status thing. We were trying to create a lifestyle but most people could only buy our chicken at the end of the week or month when they had been paid. We made a lot of assumptions but I think that is what business is about – testing assumptions. We tested our assumptions and some of them didn’t turn out as we hoped. We tried to have more marketing to increase sales to the level that we wanted. However, we did not allocate a sufficient budget for this and as such we could not do everything that we wanted to do. There is a lot more we could have done with a lot more time and money; we should have thought to invest in a marketing strategy much earlier on. 6. Keep employee morale high The loyalty of employees is very important as they are the operational drivers of