Lingerie, going viral and Beyoncé: 10 tips for building a global brand
The first #SheHive London event took place this August, with inspiring talks from some of the most interesting speakers in the city. One of them was Ade Hassan, founder of Nubian Skin. From starting her career in banking to running one of the most popular new lingerie brands for women of colour, Ade’s journey is just beginning. At #SheHiveLondon, she talked about making the shift from corporate life to entrepreneurship, going viral and having her products worn on Beyoncé’s Formation World Tour. Not bad for a brand that’s only a few years old, huh? 1. Even if you’re not in your dream job, there’s still so much you can learn… Ade started her career in banking and management consultancy. While she enjoyed it at the beginning, her mind was always filled with new business ideas. As she started to pursue her Nubian Skin dream, it got more and more difficult to concentrate at work but she soldiered on. Looking back, starting her career in the corporate world taught her lessons that remain relevant as a founder: professionalism and the ability to work hard no matter what. When you’re building a global brand, challenges and mistakes are part of the territory; so being able to keep your cool, avoid burning bridges and perseverance pay off. 2. But eventually you have to put your money where your mouth is Making the move from employee to entrepreneur isn’t an easy one and for a long time, Ade bounced between the ‘should I’ and ‘shouldn’t I’ question: can I really exchange the comfort of a safe corporate job for the stormy waters running my own business? It wasn’t an easy question to answer, until a friend reminded her that putting your dreams on hold only leads to regret. And that’s what helped her leap into the unknown and pursue the Nubian Skin vision. So far, it seems to be paying off. No risk, no reward 3. Invest in yourself Although Ade was a fashion-enthusiast, she had no formal work experience or education in the industry. In order to fill that knowledge gap, she made what she describes as one of the best investments so far: hiring a lingerie consultant. The consultant gave her a crash course in the industry, complete with best practices and things to avoid along the way. She also advised her to attend a trade show which would gave her exposure to potential buyers and stockists. But remember; always be smart and protect your brand through confidentiality agreements. Imitation might be the best form of flattery but it’s also the best way to kill your business before it ever gets off the ground. 4. Never compromise on your vision When Ade started, creating lingerie for women of colour wasn’t exactly the most tried and tested thing in the world. There’s was no rulebook on which shades worked best, so Ade had to get creative. She took trips to beauty counters to understand which brown hues were the most popular, and spent hours improving samples from manufacturers by staining them with teabags to get the shade just right. She didn’t take the first outcome as the final one. She tried again and again until the final product met her standards. 5. Get social Unless you’ve been living on Mars, you have probably heard about the ‘power of social media’. But what does that really mean? After Ade finished her very first photoshoot, she posted one of the pictures on Twitter and went on holiday (#jetlife). Within a few days her phone was blowing up, the picture had gone viral and the Nubian Skin fanclub began. When asked whether her social media strategy has changed since then, Ade said not so much, the strategy remains the same: produce high-quality, exciting and relatable content. When you do this the support comes rolling in and in the case of Nubian Skin, it caught the attention of Queen Bey. Yes, you read right, BEYONCÉ. Nubian Skin was worn on the Formation World Tour. THAT’S the power of social media right there. 6. Playing in the big leagues ain’t easy Not only did Nubian Skin go viral with customers, but it has also ended up on the radar of major retailers like ASOS and Nordstrom. It’s easy to get excited by those household names and think it’s all fun and games… but it ain’t. Whether you’re a startup business or not, large retailers have strict rules on how much you can produce but the money isn’t always immediate. This can be tough on startups who don’t have loads of cash to make large stock; so you have to think creatively about what you can offer and negotiate where possible. 7. Make sure all bases are covered, and get help where it really matters Speaking of money, the mula, those dollars, all businesses need to keep themselves cash flow positive (i.e. have spare cash for major purchases and emergencies). Ade knew that she couldn’t do it all, so she hired a friend as her CFO, someone to sort out her accounts and help her avoid bankruptcy. Admitting that you don’t know it all isn’t always easy, but it is the first step to success: once you’ve identified your strengths and your weaknesses you can take steps to make sure that you’ve got it covered. 8. Don’t underestimate yourself While investing in the essentials is important, doing as much as you can by yourself will also help you save those precious coins. By moving distribution and packing in-house (i.e. doing it within the company, instead of hiring another company to do it), Ade was able to save, save, save. We tend to underestimate how much we can do, but if we challenge ourselves a bit and take responsibility we’d be surprised by just how much we can achieve. Also, think about what other sources there may be that can help you out. For example in the UK, organisations like UKFT (UK Fashion & Textiles Association) and UKTI (UK Trade and Investment) provide all sorts of advice and financial support. While its not always the same on the continent, there are so many accelerators around to
Advice from the Accelerator Moguls: Keeping your business afloat
Keeping your new business afloat is not easy. The first year after you launch your business can also be referred to as the battlefield. This battlefield claims the lives of many young businesses. For some it’s the first few months, for others it’s a year and yet for others it’s five years before the light at the end of the “break even” tunnel emerges. Keeping your business afloat can be tasking, you’ll mostly definitely lose some money and maybe some friends too but the idea is that after all the stress and drama, you’ll be rewarded for your effort. So how exactly can you keep on top of things and make sure that your business emerges from the battlefield unscathed? We thought the best way to find out more on this topic would be to speak with other young business owners in our networks. After all, it’s better to hear it from other people in the same boat. BathKandy, Medsaf and Koko’s Kitchen are among the companies chosen for SLA’s Accelerator program, here they share advice on how they manage stay afloat. 1. The importance of re-invention For Blondie Okpuzor, founder of BathKandy, the best way to keep your business afloat is to keep re-inventing. This will give customers something to look forward to. “Customers love to get value for their money and if they feel they are getting that with you, they will keep coming back. The only thing that should be consistent in a business is excellent customer service!” Blondie says. Re-inventing here doesn’t mean a complete overhaul while your business is till taking baby steps. Once you get the excellent customer service thing down pat, focus on little ways you can define your brand. If you’ve noticed something isn’t working, go back to the table and look at your strategy. What can you do to improve things? Don’t be afraid to make changes early on in the game. 2. Have a flexible plan Motherland Moguls know that when starting a business, you need a plan on how you are going to reach your targets and achieve your mission. Vivian Nwakah of Medsaf, let us know that a flexible plan is key to staying afloat in the first year of business. “A good amount of research and planning should have been done to lay the groundwork for the business.” Vivian says. Consider where you want your business to be in a year, three years and ten years. Think strategically about your business aspirations and write down how you plan to get there. You could spice things up by writing a letter from the future you to the you of today informing you of how she overcame challenges to become a bombass mogul. Once you’ve drawn you plan, you know the next thing is to gather a team that will make sure you achieve your goals. 3. Invest, invest, invest The importance of investment cannot be overstated. We’re not just talking about money here but also resources and time. Vivian also advises that, “Founders should invest an equal amount of money to get the business going to prove their financial dedication to the success of the business. The founders should also throw as much of their resources and time to dedicate to business strategy, and execution. They have to believe wholeheartedly in the mission and value of the company.” After you’ve poured your heart, soul and money into your business, the next step is to be positive. If you’re starting already expecting that your business will not succeed because of all the horror stories you’ve heard, you won’t get very far. There will be many roadblocks and challenges but if you’ve invested in your dream and are dedicated, the chances of overcoming them and keeping your business afloat increases. 4. Everyone will hate your product You’re gisting with your friend and you have a brilliant idea that you’re both 100% sure it’ll be viable and that everybody will love it. According to Sifa Asani Gowon, co-founder of Koko’s Kitchen, this isn’t the best way to start out. “Make sure you have feedback from strangers and people who aren’t afraid to tell you the truth. Your business will be all the better for it.” Don’t rely on what your friends or family say about your business. They may think you have the greatest idea on earth but on the flip side they may also think your idea is useless and will fail. Overcome this by getting opinions from people who don’t know you but know enough about the market you want to break into. The information you gleam from this could just be your armour during that trying year. 5. Master your market One of the many reasons businesses don’t make it past the initial stage aka the battlefield is that they find it difficult to draw in customers. “You may have a wonderful product…but no marketing structure to get it into the hands of customers. Creating a proper and reliable marketing and distribution network is absolutely crucial.” Sifa says. Building on this network will ensure you have what you need to draw customers in and bring in the money you need to break even. Do you have a plan for how you’re going to market your products? Are you connected with the people who will move your goods/services from producers to consumers? If you’re still clueless about your market even after you’ve started officially launched your business, then you have a code red situation.
Lessons from the demolition of small businesses in Lagos: Three steps to protect your small business
Last week, we woke up to the news that Nuli Juice Company, Nuts About Cakes, The Drug Store —all small businesses in the upscale Ikoyi area of Lagos— were on the verge of being demolished. The Drug Store had only opened for business a week earlier and Nuli Juice opened six weeks earlier. The owner of Nuli Juice only became aware of the demolition when the bulldozer showed up ready to reinstate her shop to what was once her imagination —she did not receive any prior notice. She was shocked, as like most savvy entrepreneurs, she had obtained all relevant permits, licenses, paid her taxes, etc. In the midst of the chaos, she found out that the demolition was as a result of the landlord’s failure to pay N40 million in permit fees. The landlord was given prior notice before her lease term commenced. Within a few hours, the only evidence of the stores was rubble. Unfortunately, Nuli Juice, Nuts About Cakes and The Drug Store represent a few of the many businesses that experience this issue on a yearly basis. Given the recent trends, it is evident that applying for a business permit, registering the business and registering with the tax authorities are not sufficient to safeguard businesses. Business owners must take additional precautionary steps to further protect their businesses from unexpected disruption or in this instance, demolition. Below are a few additional precautionary tips. 1. Dig deeper Treat your store lease like you would treat the purchase of new land. Before signing a lease, conduct a thorough search on your potential landowner, the land, and the building. Tips: Not every alleged landowner is indeed the true landowner. Ask people in the neighborhood about who owns the building. Investigate to make sure that the alleged landowner indeed owns the building. Ask about the landowner’s reputation. Has the landowner had any brushes with the law (personal or otherwise)? If the landowner has a multitude of legal cases (personal or otherwise), it may not be wise to lease from him or her as the building might become subjected to legal processes. Ask whether the property has been subjected to any extraordinary visits from government officials. Such regular visits could be a sign of disaster waiting to strike. Confirm from the landowner that all relevant permits have been obtained. Thereafter, negotiate his or her assertion into the warranty section of the lease agreement. Do the same for licenses, permit fees, etc. If the store has been recently renovated, ask the landowner to confirm, in the lease, that all renovations are in compliance with all relevant laws. Ensure that there is a valid certificate of occupancy for the building. Check with your local government officials to make sure that the neighbourhood has indeed been marked for business purposes and not strictly residential purposes. Your business will most likely be kicked out of the neighborhood if the area is strictly a residential area. 2. Negotiate Many small business owners ignore the importance of negotiating the content of their lease agreements. Despite the fact that as a small business you may not have much bargaining power, you still owe it to your business to take all necessary steps to protect your investment. So, before you sign the dotted lines, negotiate! Tips: Include a clause in the lease agreement that covers you in the event that your store is destroyed or damaged as a result of the landowner’s act or failure to act. Such provision will allow you to seek damages (i.e. seek payment for losses) from the landowner in the event that something the landowner did or failed to do caused disruption to your business. Most business owners assume that the landowner pays for repairs and often skim through the repairs provision of the lease. Please do not be one of those. Do not assume. Ask! If the lease contains a provision that requires you to pay for repairs, try to negotiate an exemption for normal wear and tear of the premises. Under such arrangement, the landowner will cover repairs for damages that are not caused by you. Also, pay close attention and negotiate who will be responsible for big-ticket items such as plumbing, roof leaks, air conditioners, etc. Review your lease agreement to make sure that it includes a clause that states that the landowner does not owe any duty to any other persons or third parties (e.g. taxes, liens, restrictions). That way, you will be protected contractually should there be any third party interference on the property. 3. Ensure your business is covered Many small business owners underestimate the importance of business insurance. Business owners should ensure that their businesses or their buildings are covered by insurance. Such coverage will minimize the impact of a disaster to the business cash-flow. Tips: Consider obtaining business insurance that covers material damage to your business premises and their contents. This should cover malicious damage, strike, riot, flood, storm, burglary, and litigation. Alternatively, consider requesting that your landowner purchase a building insurance that will cover your business in the event of a business disruption (such as a fire incident, obviously, not a fire you deliberately caused). Such insurance policy should be able to provide an alternative store location in the event that your current store is inhabitable. This process might seem daunting. However, as the saying goes, “its better to be safe than sorry.” These steps, though not exhaustive, can add an additional layer of protection from undue external business disruptions. If you would like insights on a particular topic, write to us! We are listening.
4 business lessons I learned from my mother (and aunties)
No one works as hard as an African mother. I should know because I was raised by one. You see them everywhere, trying to build new businesses from the farm, to the market place, to distributing companies and high-rise malls, to boardrooms and to the top of multi-national companies. Mothers are the epitome of perseverance, the backbone of our society, really. Mom aside, I was also brought up by more than five aunties! I know there are some entrepreneurial tips that we all need to follow from these marvelous older women. These are age-old tips that work anywhere, and have seen our mothers and their mothers through tides of disasters and of plenty. Reputation In business, your reputation is everything. Without a good reputation, your future businesses are worthless really. This is greater than branding, dear ladies. A reputation speaks to your character, and is bound to outshine all however much you brand yourself or your company. It is the core of who you are. Get a good reputation and guard it with everything you have. Be a woman of your word, conduct your affairs with dignity, have good products and services. You know…reputation. Appeal to self-interest in business This is where most aspiring #MotherlandMoguls go wrong. I get that we are emotional beings but when making a deal, never play to mercy or pity. A Motherland Mogul never grovels, not when you know you can bring something to the table. And it does not matter whether it is the centerpiece or the whole darn table. If you always find a way to ensure the other party can benefit, the deal is yours. That is how barter trade worked for years. If it was good enough for our ancestors, it should serve the purpose well for us. Afterall, we are here due to them. Keep people guessing The easiest way to fall in a rut is being predictable in business. While there is some good in being consistent, predictability points more to actions than products or services. It encourages you to get out of your comfort zone and actually be out there. It means partnering up with people that are not like you and learning new things. Why else do you think women form small funding groups that bring together people of various professions and backgrounds? If it works for your personal life, why can’t it do so in business? Always keep an air of unpredictability. That way, no one ever sees you coming and the traps are definitely fewer. Never retreat, never surrender Our mothers run the household. No matter how big it is, no matter how much work is, you are sure that your mother will leave everything at the door and be your mother. If there is punishment to be delivered, it will be delivered. And she never lets her children see her overwhelmed or tired. Why is it then, that when some of us go to work, we carry unnecessary baggage that distracts us the whole time? Then we actually end up doing nothing at work. We end up frustrated and are grumpy to our families when we go back home. Some household issues like worrying when laundry will be done or planning the meal for the next day calls for some serious time management. And when you’re at work, let it be no retreat, no surrender for things that are worth it. We often look for business strategies elsewhere while in truth, they are right in front of us. Staring right into our faces, like our mothers often do. And yes, the pun was very much intended.
Starting and sustaining an NGO in Nigeria: 3 important things to consider
You can actually set up the next big NGO, and maybe win a Nobel prize for your wonderful contribution to the society. Isn’t that amazing? But wait! Before rehearsing your Nobel prize acceptance speech, have you given enough thought to the sine qua non of setting up and sustaining an NGO? No? It’s not too late. Let’s start with the basics. A Non-Governmental Organization (NGO), according to www.ngo.org, “is any non-profit, voluntary citizens’ group which is organized on a local, national or international level.” In Nigeria, they play important roles, often filling gaps which the government is unable to while complementing existing government activities. These organizations, small or large, work in the health, civil society and other sectors of society. Individuals and groups often set up NGOs with altruistic motives, with the intention of impacting positive societal change. Having worked for an NGO for several years, I know that most people assume that starting and sustaining one is a laid-back affair. On the contrary, it is in fact as critical as starting up a for-profit business. It really does not matter if it is on a small-scale basis, or whether you have vast amounts of cash, there are key guides to consider. Here’s what you need to know. Legal requirements A lot of times, enthusiastic newbies fail to consider the legal requirements of embarking on such a venture. Someone wakes up, scribbles an interesting name for a proposed NGO, then proceeds to print branded T-shirts. That’s not bad for effort, but you need a more structured process. For proper legal status, your NGO must be registered with the relevant body; the Corporate Affairs Commission (CAC). Take ownership of the process, and as much as possible, avoid using a proxy. That way, you will be in possession of all necessary documents and minimize the chances of a disaster. Now, you’ll need to establish the following: The legal obligations it will be subject to. Your goals and objectives. The problems you intend to solve. Equally important, you’ll need a lawyer during this process. Having a lawyer at your side will keep you updated on the rights and obligations of the registered NGO you’ll soon be running. Acquiring and sustaining funds When setting up an NGO, you must be very clear on the source and availability of funds. You can’t begin with the, ‘Well, I just started’ or ‘Let’s see how it goes’ attitude. Having said that, let’s see if you can answer these questions: Do I have funds for the activities I’d like my NGO to embark on? Are there government or other organizations’ grants I can apply for? Can the NGO sustain itself on a long-term basis? Do I have an efficient structure? What are my planned activities, and who will be responsible for each activity? Run your NGO like you would run a business. Look, I get it. The society seriously needs solutions and you’re revved up for the challenge. Your idea is the best, most unique and different one and you’re in line to becoming the next Mother Theresa. Listen though, other NGOs are profit-oriented and well, only focus on making profit. If you want your NGO to be around for a long time, you’ll need to integrate these profit-making elements to your operations: Have a defined strategy for hiring, operations and other organizational processes. Have a strong financial system. Have a target audience? A robust marketing strategy will cater to them. Have a marketing budget. Decide on what strategy to apply. Person-to-person? Social media? Flyers and posters? Or a mix of different strategies? How about record-keeping? Do you have a plan? How often would you produce reports? Bi-monthly, quarterly or annually? The above requirements are essential, especially if your NGO’s activities are grant-funded (which means you’ll have to submit regular reports to your handlers). The sad reality is not everyone gets grants at the start, but proper record-keeping would prove very helpful should you decide to apply for funds in the future. #MotherlandMoguls should know that NGOs are businesses too. Your profit is in the satisfaction of helping people in profound ways.
Change: What businesses need to remain relevant
The story is told of the CEO who calls his CFO to authorise the travel and associated costs of an expensive training programme for some core members of his team. Aghast at the high cost for the programme, the CFO remarks, “We are spending all this money to train them. What if they leave our company even after we have spent all this money?” The CEO was calm and responded, “Ah, but what if we don’t train them and they stay?” Adaptive thinking, compelling yet versatile leadership, and the notion of a learning organisation are all concepts that are becoming critical in operating and growing a business. A business is an entity that provides a particular solution to the needs of a category of people within a society. How a business chooses to provide that solution can be what distinguishes and especially, profits the business. From the expertise and competencies of your team, to the detail of service delivery, to the form and content of leadership of a business. These should be adaptive. You need to be dynamic Businesses must be adaptive because societies are dynamic. The people that form societies, that is your clients, evolve. Thinking, wants and needs all adapt and as all of these adapt, businesses need to also adapt. Businesses need to make themselves relevant to the needs of that society. The what, why and how of your business needs to be constantly examined because of this dynamism. The biggest challenge is that whilst most businesses believe they understand this, they often fail to practice and actualise it. This is not surprising. Change is difficult and yet change is needed. To change what, how and why your business does what it does is first of all a lesson in humility. Secondly, it is a tremendous exercise in self-examination, and third it will mean an uncertain transition period. I think this is why there is so much resistance to change, it requires all of us to do things in ways that we are not familiar with. And we all know that unfamiliar territories are as daunting as they are risky. But nothing that will grow will do so without a transition period. Metamorphoses: the constant cycle of change Maybe what we need to do as businesses in seeking to apply change, is to simply view change as a growth path. Without change we run the risk of not growing. Even when we change and do not grow, it’s still important to try. We are more likely to grow if we do change because the status-quo is not giving us the result that we want. The problems of today are caused by the solutions of yesterday. And what many businesses continue to do is to provide the solutions of yesterday to today’s more advanced, stickier problems. To be relevant in business, we need to be more open to change, we need to be responsive to change, and we need to actually seek and want to change. This often requires new learning. It often requires bringing in a third party to support you in identifying and then structuring the business change that you need along your value chain. It will then require instituting new work processes, new ways and means –and ultimately it will begin a process of individual and organisational learning. Create your future It is this new learning that actually has the power and the potential to exponentially grow a business. The future is not a place we are going, it is a place we are creating. When a business takes a decision to really change and be more acutely responsive to the needs of their clients and stakeholders, that business has started a process of creating a new future. You don’t create new futures by doing the same thing the same old way. You create a new future from new learning out of an observation and real understanding of what society and our clientele needs from us. This goes further by taking a decision to work with that new learning through the development of better and more responsive products and/or services, ways of working, and systems and processes. The success of that change process is implicitly linked to the core leadership and management team understanding the need for change. Your team needs to desire and buy into change. You cannot play lip-service to change and expect to grow. This speaks to the wider notion of the ability of a leader to inspire her team to see the need for change, to want change, and to execute new change processes, thinking and doing as they daily execute their tasks. This ability to inspire, to motivate, and to support your team to see the positive externalities of the change you need is what stands you out a leader. The power to take people to a place they have not yet being, and getting them excited about arriving there.
Common business challenges…and how to overcome them
You’ve started a business, probably one that’s 6 months old. You’ve achieved the significant part of your dreams but what to do when your business becomes a stubborn child? Whatever you do, don’t look it in the eyes or try to confront directly. We’ve got ways to overcome some common challenges associated with start-ups to help. Finances This is a broad category that I will break down into capital, cash flow and frugality. When it comes to capital, the source that you pick matters. Going along with family and friends will definitely be easier but may not challenge you to see little gaps in your business plan. Unless of course, your family or friends are well versed with the business world. Considering an investor or venture capitalist that funds start-ups would be a good way to go about it. Investors have prerequisites and question aspects of the business plan prior to the receipt of the capital. This in turn builds a certain level of confidence as you start out. Savings are another option that can keep you out of debt initially. But whatever you do, ensure you have passed the plan through mentors in business who can analyze your business plan and anticipate any red flags. So will it be Aunt Kabuga, an independent investor or savings? Your pick. In terms of cash flow, tracking revenue versus expenses is paramount. Even without extreme accounting expertise, it is important to track your books of account…what you pay suppliers, employees, your sales team and what you are raking in return as revenue and eventually attain as profit. Frugality as an overall pointer of finances cannot be overemphasized. When starting out, you are essentially bootstrapping to keep expenses on the low. Find affordable suppliers, use wise but pocket-friendly sales tactics, and cut down on luxuries. Market research I find that this is one of the most underrated business issues. We are living in a world of massive data yet, many businesses fail to do their homework well before starting out. You may have the big business idea figured but you must be willing to anticipate and forecast market trends. Or else, you could end up building the business in your head than at the actual marketplace. Research involves a variety of mechanics and even better, a combination of these mechanics. You will need some hours on the computer and in some cases, may have to buy data to check on competitor information. The target market will be your next best source of information. You need to sell something that people need. Sometimes, people don’t know what they need till you sell it to them, so you could check on that too. Research also involves anticipating various changes that could affect the business and mitigating against such. Prioritization Do you build a fancy website, set up a cool office hub or start out by working from home? A number of businesses are encumbered by unnecessary expenses as they set up shop because they lose focus on priorities. A detailed business plan will map out areas that need fundamental attention and those that can be invested in later. Otherwise, you will keep having revenue that you can’t amounts to nothing. It also helps to frequently ask the question, “If I were to eliminate one thing in my business right now, what would it be?” Prioritization also depends on your principal motive of starting the business. Were you genuinely seeking to make money by serving a need in society or were you escaping the 8 to 5 employment vortex? The former is a lot more solid and while the latter is valid too, you might be surprised that as you start out your business, you need an 8 to 8. Pricing The way a business prices its commodities when starting out is critical. Many proprietors price too low initially and do so emotionally. After the low penetration price, the business begins to crawl weakly and are forced to effect a surge which consumers may not have anticipated. It then becomes harder to gain loyalty. Pricing rationally and suffering from an initial low market share would have been much easier. As Maya Angelou said, “Ask for what you want and be prepared to get it.” Besides, only you can relate to the hours you put into the business. Therefore, charge accordingly, not desperately or emotionally. The one-man guitar show Are you taking on too many roles that you need help? This can take on a heavy toll on your business. While it’s alright that initially you are the strategist, salesman, accountant and admin, consider getting some professional help once in a while. When you can afford some more, hire great talent to sort you out. The two important aspects you really need to consider, especially if they are not your core specialization, are legal and accounting expertise. Too much time in business could make some relations suffer as you play a one-man guitar show. You also need to maintain your support network of family and friends. We wish you success in all your businesses as you work through the challenges and would love to get your thoughts and contribution on the topic!
Anthropology in Business: Using insights into human behavior and culture to improve your business
“To succeed in the business of the future, we have to become the very people we’re trying to reach.” – Brian Solis Anthropology is the study of people or the human condition in order to gain insight into patterns of behavior or culture. Anthropologists have been practicing the art of cultural immersion for many years. Rather than simply observing from an outsider’s perspective, cultural immersion involves inserting oneself into and fully engaging with the culture of the group being studied. The goal of cultural immersion is to try to find answers to questions like, “How do people or groups construct meaning?”, “How does it function within the context of their daily lives?” As the world becomes increasingly globalised, there is a need to understand not just the people in our communities and those communities closest to us, but also people much farther away. You do not have to be an anthropologist to realise that to truly comprehend the reality of others’ lives, you must be able to view them through a lens that isn’t clouded by ethnocentricity. Put simply, to effectively communicate and engage with others we must be willing to put ourselves in their shoes and try to see the world from their perspective. This same principle is becoming increasingly relevant in the business world. What customers want vs. what they think they want Microsoft, Google, Intel, Procter & Gamble and Philips. Can you guess what all of these companies have in common? They all have a team of anthropologists on their payroll! Have you ever found yourself watching a commercial and having no clue what product was being advertised? But once the product was revealed, you realise that the commercial had somehow piqued your interest and succeeded in selling it to you. Have you stopped to wonder why more businesses are choosing to adopt this kind of indirect marketing and advertising approach? Well, businesses are catching on to the fact that that there is a divide between what customers want from a product and what companies think they want from the same product. As it turns out anthropology has a lot to say about human behaviour and cultural patterns. To remain competitive, both domestic and international businesses constantly rethink their strategies to better fit their environment. Being able to identify and explain patterns of consumer behaviour is essential to the success of any business. So to is knowing where within the wider cultural context these consumers are located. As anthropologists and market researchers Patricia Sunderland and Anita Denny stated in their 2007 report, “From our vantage point, markets are not constituted of segments of people with specific and profiled “needs”. Rather they are constituted by systems of interwoven meanings and practices that may or may not have resonance for a product, brand or experience”. What does this mean for your business? The key take away messages for all Motherland Moguls from this should be, Let anthropology guide and shape your marketing strategy. Facts and figures are important, but you must look beyond and strive to understand the relationship between your market(s) and the culture(s) in which it is situated. Use cultural immersion to your advantage by participating in the testing of your product, brand or experience. This is a surefire way to create a sustainable relationship with your clients and to ensure that you truly understand each other’s wants and needs. Did you find this article interesting? Please share your thoughts by leaving a comment below.
Thelma Golden, Director and Chief Curator of Studio Museum Harlem: “The digital age has made it easier for artists”
Art opens us up to the world. We can get a glimpse into the culture and history of a people through their creations. When it comes to African art, many artists are visual griots who tell a story through their visual work. The digital age has made it easier for artists to present their works on a larger platform. Thelma Golden, Director and Chief Curator of the Studio Museum in Harlem, explained to us at She Hive NYC 2016 that art at its core is multidisciplinary. Here are some of the points that Thelma Golden highlighted. – “Digital spaces for art display can have pros and cons. Many museums plan so far ahead that it could take years for your art to be showcased, digital spaces in this instance can be great for artists to bring attention to their work.” – “Create a support system within your peer group, within different fields, they can be cultural mentors to you.” – “Art being in the digital space has been to the great benefit for artists who don’t always have access to the official portals of art.” – “When thinking about investing in art you need to do your research. First figure out what you like, go to museums and see what is for you. For example, do you like abstract art? Do you like art with a lot of texture? To live with art, you want to be around something that inspires you and provokes you.” – “One of the amazing things about collecting contemporary art is that you get to know the artist. Knowing about the artist should also be criteria when investing in art pieces.” – “You should only buy art from reputable sources to ensure that you are getting what you paid for.” – “Follow artists that you like on social media and see their path, engage with them.” She Hive NYC attendees learned that art is an investment in culture itself. If you want to be an agent for change in the distribution of African art, be involved in the art scene. Sign up for a museum membership within your community. Visit art exhibits whenever possible. There is strength in numbers, have your peers get involved. Let’s go out and support!
Asmau Ahmad, Plum Perfect CEO: Lessons on building a business in tech
The She Hive made its way to NYC and it held no punches! Guest speaker Asmau Ahmad, CEO and founder of Plum Perfect, showed us that building a business in tech requires strategy, confidence and persistence. Trained as a chemical engineer, Asmau understands the importance of being both precise and thorough. Asmau’s Plum Perfect is a mobile technology that allows the user to submit a photo selfie, it then analyzes the content of that photo to recommend makeup products that work for your complexion. During She Hive NYC 2016, Asmau shared with us how she navigated her path within the tech industry. Here are some lessons we can take away from Asmau’s journey. Be flexible Your ability to stay alive as a startup is directly correlated to your ability to pivot quickly. This means that you need to learn what is moving very quickly and move directions. Do not get too emotionally invested in something that clearly isn’t working. If you have been working on something that needs to be revamped, just make the necessary changes. You can either grow fast or die slowly, the choice is yours. If your startup does not have the funds to market itself, partner with bigger brands and let them do the marketing. Data is king Use data tracking tools that allow you to see how your users interact with your technology, Google Analytics and Mixpanel are some resources Asmau suggested. Listen to your users, read all of their reviews and make adjustments accordingly. Your most enthusiastic customers and your most angry customers will be the ones who give the most feedback. Feed off the energy of your most enthusiastic customers and give them what they want. Conversely, solve the problem of the angry customers and give them what they want too. You want to get to a happy zone with as many customers as possible. Reach out to investors Asmau said that she focused on mostly women-led investors to help push Plum Perfect forward. It’s important that you find investors that fall in line with your business interests. Choose one revenue model that you want to focus on, state what you want clearly and simply. Investors need to know that you are well informed about the product you’re pitching. Know your numbers when presenting, what has been your ROI thus far? How much do you need to carry out your next endeavor? Get investors who not only give money but also invest time into your project. Surround yourself with people who are smarter than you. You do not always want to be the one with the best ideas in the room. There are some instances where an investor will not take you seriously unless you have an MBA degree, it is validating for them. Asmau’s takeaway is that business school is not mandatory for running a successful business. If you have a viable business model and can think logically you can run a business.