Growing and marketing your brand via social media – The tale of 5 #MotherlandMoguls
[bctt tweet=”When used right, digital media can be harnessed to make a direct impact in the society” username=”SheLeadsAfrica”] It is not often that one catches five aspiring women in the same spot. Well, maybe it’s often, but what are the chances of finding them engaged in a fashion project to raise awareness and funds for charity? These five #MotherlandMoguls are part of the ongoing Romperade Campaign, an online fashion charity event to raise funds for Living for the Needy Foundation. SLA contributor Emma Kwenu Smith caught up with the five who have successfully grown their brands online, to ask them quick questions about the impact of social media marketing on their businesses. What’s the role of social media in charity organizations and specifically for your brand? How has social media given you exposure as a brand/charity foundation? Caritas Aryee, Founder, Tatas and Friends Foundation. You would notice that, largely, Ghanaian charity foundations have always run on traditional media. It’s easier to hear a radio ad calling for donations for the Osu Children’s home etc. rather than a social media campaign for funds. This is the exact reason why Tatas and Friends Foundation has been a game changer in the industry. We started with social media and still the story has not changed. It has been a huge boost for us, and we encourage others to do same. First off, our publicity is done via social media. It is easy to get Kenkey for the Needy, (which is our major fundraising project) trending on platforms such as twitter and IG. Since we are a charity organization, we are unable to invest in traditional media for publicity. However, through social media, we receive access to grant interviews on TV and radio. In doing so, we have been profiled alongside other solid brands on platforms such as Starr Woman Project, TedX campus, Reach for Change and many others. And to think this publicity is free! We just had to capitalize. The second bit of using social media is that we are able to reach out to people both locally and internationally to raise money. People we do not even know, reach out to us so that they can donate to the cause. It is amazing! Social media is a powerful tool, it has shaped the Living for the Needy brand and has given us a lot of exposure. How do influencers promote a brand and how rewarding is it to include them when building your brand online? Jessica Naa Adjeley Konney, Fashion Blogger, Trends&Blendsgh. Influencers have become the new voices of brands —they are already largely recognized on social media for carving a niche. At this point, they have grown an audience that is interested in every content they churn out which is great for people who would like to patronize their services. [bctt tweet=”If you’d like to speed up the process of advertising a new brand, influencers are the way to go” username=”SheLeadsAfrica”] Being an influencer myself and having featured influencers as well, I can say that the exposure they give to a brand is immense. Featuring an influencer takes many forms —you can have them use and review your products and put up posts on social media. They can also be included in events and can feature in huge campaigns so that it gains traction. How do you know which digital audience to engage with for your brand and how do you decide which social media platform to use? Constance Efua Mensah, Creative Director, EfuaStanzz Fashion. It starts with knowing the general audience target for my brand. We are more skewed towards women’s clothing but basically, all our marketing is geared towards the confident woman. In that light, it is important that we build an identity that resonates with our targeted audience. [bctt tweet=”Choosing one social media platform starts with knowing & understanding your audience” username=”SheLeadsAfrica”] Images are essential for my fashion brand —it helps clients (both potential and existing) know what my brand is capable of providing. After all, to be comfortable enough to purchase a dress, you need to see it and assess it from all angles. As such, I mostly use Instagram and Facebook as a means of communicating to my audience. Facebook has a wider reach, meaning more people see our posts and it also allows for effective picture/video sharing. Instagram also has a beautiful and simple approach to marketing. Content, particularly on Instagram, is simply more shareable, easier to understand, and far more universal than other types of content. Also, it is full of people eager to connect with a brand on a more intimate and tangible level. Does social media directly affect your client base? Lamisi, MakeUp Artist, Lamisi Artistry. Truth is, I do get over 80% of my clients via social media. The rest is through word of mouth. [bctt tweet=”MUAs need social media, people need to see your work before trusting you with their faces” username=”SheLeadsAfrica”] I leverage heavily on Instagram particularly so that people see the images —it is an excellent platform for sharing all my works. However, the industry is very competitive, as such, it is important to make sure that your images are of good quality. Else, how will you stand out and win potential clients over? For brands like Coca Cola, Vodafone etc. there may not be a very direct correlation between the sales you make and your social media investment. However, for us in the beauty industry, it’s very plain. [bctt tweet=”Social media dictates our potential client base and ultimately, it is where we get our clients” username=”SheLeadsAfrica”] The more posts on your social media pages, the better? Why? Maud Mensah, CEO, WigClub That statement is indisputable. The more you post and engage your audience, the more visible you are. However, you do not want to share too much information that it suffocates them and drives them away, and you also don’t want to share so little that they become disinterested. It is important to find the right balance for your brand. As
Natasha Bassey: I want to be better and to make others better
[bctt tweet=”I try to add value to someone, somewhere, somehow each day – Natasha Bassey” username=”SheLeadsAfrica”] At a time when most young ladies will give an arm and foot to work in one of the biggest Telecomm companies in Africa, this #MotherlandMogul took a wild leap and it is taking her places. Meet Natasha Bassey, PR woman, trainer, network marketer and a multi-business owner. Outside working in Telecomm, Natasha has experience in the show business industry. SLA contributor Priscilla Omoruyi caught up with Natasha Bassey and she shared her experiences and life work with us. How long were you in the Telecomm industry? I spent approximately 3 and half years in customer service and customer relations. My job was to attend to customer issues and try to resolve them as quickly as possible while at the same time trying to empathise with the customer and reassure them that the would get the most time effective response to their issue. What prompted you to leave and strike it out on your own? It initially started when I was diagnosed with medical issues that affected my hearing. I had also just completed my second degree in sociology and felt there was no better time to move on to new things. What are the challenges you face as a network marketer? For me, the greatest challenge isn’t even the recession. It is the close-minded nature of people to new ideas and better ways of doing things. I find overcoming that get rich quick mentality of instant gratification here and now a huge challenge. [bctt tweet=”Natasha Bassey’s greatest challenge has been people’s resistance to new ideas” username=”SheLeadsAfrica”] Money in itself is, after all, a byproduct of the mental process, so if that process is shunted in any way then there will be issues. You are into a lot of things, how do you handle them? I am usually able to handle all my businesses with my phone which I have turned into a mini office. I seriously need a personal assistant, though. The truth is that handling so many initiatives does take quite a bit of juggling. But the willingness and drive are fueled for me by my determination, I want to be better and to make others better. I wake up each day determined to take it one day at a time, one decision at a time. I try not to do everything but focus on the most important and rewarding things. Above all, I try to add value to someone, somewhere, somehow each day. What are your best and worst moments? For this, I would like to borrow a phrase we use in network marketing. There are no good or bad experiences, only learning experiences and this knowledge has really changed the way I think. [bctt tweet=”Natasha Bassey: There are no good or bad experiences, only learning experience ” username=”SheLeadsAfrica”] The truth is no person or event has the power to make or break you, you are the only person who can. Interestingly another great thinker Brian Tracy said this, successful people make every decision right. This means that whatever decision the person takes in that time, whether “good” or “bad”, the person makes it work out right. If you could go back in time to change something about your work and business, would you? My mother always used to say hindsight and the ability to look back at our choices is a good but can only be achieved in retrospect. I believe all my actions and experiences brought me where I am today, I honestly don’t feel I would change anything. I say this even though I sometimes look back at the time and energy I put into getting my second degree and wonder if I should have put in that much. If you’d like to share your story with She Leads Africa, let us know more about you and your story here.
Unmarried womenconomics: Managing your finances for the future
[bctt tweet=”You may want to start saving ahead if you plan to marry and have kids in the future” username=”SheLeadsAfrica”] So you are just like me. Young, wild and free. In the bloom of youth. No husband has stamped his logo on your heart yet, and there are yet no children to wrap themselves around your legs, displaying embarrassingly in public with cries and tantrums, making you wish they were old and married off already. But we all know someday the story may change. No more Maybelline fit me foundation shades as a priority on the list. Instead diapers, school fees, and their ilk of expenses will be the main components of your monthly and by extension, annual budget. So in the meantime, how do you manage your finances in preparation for the future? Here’s how: Be self-reliant Do not rely on someone else, like a boyfriend or “Sugar Daddy” (yes, we all know they exist) for your financial security. They may or may not be there for you forever, but at least you know that you will always be there for you. Get a job, a career and try to make your own money. Also be open minded about educating yourself on how to manage and invest your money. After all, it’s your money. Trust me, you will rather keep a keen eye on it, than have someone do that for you. There are too many I-trusted-my-money-with-someone stories gone bad and you do not want to be next on that tall list. [bctt tweet=”Like all others, your financial discipline depends on your mental strength.” username=”SheLeadsAfrica”] Budget A budget is simple; it helps you to know how much you have earned versus how much you are spending. Above all, you need to know what you spend most of your money on. It’s as simple as putting down all your figures on that notepad, or downloading Fast Budget or AndroMoney on Google Play Store. Either way, you will know if most of your money is invested in the Friday and Saturday night outings with the girls, or if you are spending more on make-up than you absolutely need to. After such a “divine revelation”, you will know which activities to cut down on and if you need get an alternative yet cheaper means of transport to work. Save Think long term about how you want your financial future to look. One too many Whatsapp chain messages have accused the average African of prioritizing consumption over savings and it is time to prove the outside world wrong. It starts with a mindset change, and for us at SLA, it starts with the woman’s renewed mindset. Unfortunately, statistics has also not been kind to our gender. Per a recent study by mutual fund company, Vanguard, men have 50 percent more money saved for their retirement than women do. Even after earning less, it appears women cannot resist the urge to splurge. so let us prove them wrong. Although this is not necessarily a battle of the sexes, small acts of saving play the most significant role in determining if you can live your desired lifestyle. Let us determine to put a percentage of the salary down, untouched. So walk to that bank, open up a savings account and place a monthly standing order on your current account. Or? “Money, like emotions, is something you must control to keep your life on the right track.” ― Natasha Munson First save, next invest Saving is not enough. It is woefully inadequate. That money cannot just be there breathing. Do your own research on acquiring financial assets; will it be a Treasury bill, a fixed deposit or mutual funds? [bctt tweet=”Let the money make money for you.” username=”SheLeadsAfrica”] It could even double as your emergency fund for that rainy day. There is a lot of information out there for avenues to invest. This is a great place to start. Better still, you can talk to a qualified investment officer about the options for investing. Learn from your money mistakes. Do not let them sentence you to a life of financial misery. “All the blood rushed from her head to her eyes when she saw that red dress, and in a split second of not weighing the odds, she pulled out her purse, counted that thick wad of stash, and exchanged it for a dress which she will later find out to be one size smaller.” Can you relate? (Yes. That was a hushed whisper, but I heard you.) We simply learn from our past mistakes, and the next time our friend above will think twice about wanting that dress, and purchasing it. She now has the present and future to correct that slip-up. The same should be for you. So what if you are an impulse buyer? Seek counsel. Read a book to help you snap out of it. What if you are the contemporary African female Santa? Learn to control your philanthropic escapades. Examine your spending streak, look at your money mistakes and put measures in place so you do not repeat them. So renew that mind and let us get to the promised land. Similarly, the hackneyed quote says; “if you can dream it, you can achieve it.” Here’s a toast to all the money you will be saving and investing for the future. May you be disciplined to manage your finances now! May interest rates be high so that you earn more when you save and invest!! And above all, may you enjoy spending it!!!
Against all odds (bouncing back after a failed business)
I recently experienced a failed business and it would have been devastating if not for my support team. The good thing about failure for a positive minded person (which should be the mind set of an entrepreneur) is the ability to use the experience as a learning process. When a business venture fails there are two most likely reactions from the entrepreneur. You either give up or dive back in again, trying to make it right this time around. From my own experience, here are some helpful tips on bouncing back from a business failure. 1. And the blame lies… A whole lot of things could have gone wrong. The first step is to take an introspective look at your business journey and without been biased. Analyse the venture and pinpoint where things went wrong. You can ask the people who had interactions with your business for their opinions. Be sure to let go of the hurt that comes from failing at a venture. The altruistic ones will prefer to blame themselves and this might be harmful if you cannot get over the blame game. 2. Decide… Next, decide if you are returning to that venture or starting a new venture. This is important as it will determine your next moves. The decision to continue a failed venture will rest solely on you. Consider the reason you started the venture. Was it just a business or a deal with a goal? An ordinary business idea (not that there are ordinary business ideas, but some are conceived based on needs as opposed to those based on passion), is easy to let go of. With this idea, you can venture into a different line of business, responding to another need. However when your idea is part of a dream, it is harder to dump it and move on. 3. Restore This is usually the hardest. If your business was loan funded, it is always a source of grave concern. Many business owners suffer huge financial losses after a failed venture. Although not easy, making efforts to restore/refund loans can give a sense of fulfillment. This is not to say that inability to do so should lead to depression rather a well laid out plan for payment may inspire hope. It is absolutely necessary to avoid any form of self deprecating thoughts. 4. Plan Now that you have decided, begin to make plans in line with your decision. If you have decided to move on. You will need a fresh new idea and plan according to the idea. In the event that you want to continue with your previous idea, make further research using your previous mistakes as key points. Go back to the drawing board. Your drawing board will hold your idea, its concept, theme and any previous mistakes. It is time for a new flow chart which will utilise the information gathered from the research you have done. Tip: If you really need funds at this point, consider crowd funding. 5. Take your time It is tempting to want to dive right into the deep end when you have found the solution or something new. Don’t do this. It’s not advisable jump right in. And no, this is not saying you should procrastinate. On the contrary, take time to set out a pace that will allow you notice changes and progress. 6. Laying the ground work Now you work, and I must add with a vengeance. Going from the drawing board to the work table is literally a huge step. This is where every past lesson is put to the test. 7. Faith Having a strong belief in the success of your venture helps to pad all the hard work you have done. Praying about your moves and asking for directions divinely can go a long way. Also a positive mind set is required. Always. 8. Be patient When you start squatting at the gym, there is a tendency to look at your butt for signs of growth. Disappointment quickly follows when the expected immediate transformation is not seen. Like squats, your business will need time and constant, continuous efforts to grow and begin to show signs of growth. Be patient. Continue to work at it. To avoid working blindly, take constant review of your progress. It may be quarterly or monthly but alway take stock. Mark areas that might need improvement or changes. Make necessary upgrades. Get customer feedback. You cannot know too much. Even after the initial research, always seek expert opinions at every stage. This will serve as a guide along and also a yard stick to measure your progress. In the long run. Your perception of a failed business is vital to your entrepreneurial life. If you develop the habit of not giving up and taking every failure as practice and a lesson, you will find yourself very soon in a successful venture with lots of stories to tell. Remember
Webinar with Nene Mboweni: How to balance your business & your studies (Nov. 1)
Missed this event? Make sure you don’t miss the next one by joining our community today. A lot of you Motherland Moguls out there are busy chasing that diploma, but you still have entrepreneurial dreams floating in your head between classes and exams. You’re wondering how to leverage your school network to get your business started and how you will balance it with your studies. Introducing: Nene Mboweni who has started two businesses, Mkweni Groundworks and Nnua Cakes, all while forging ahead in her biomedical science studies. On top of this, Nene volunteers her time and is actively involved on her campus and around her community. Did she clone herself? How does she juggle it all and what are her future plans for marrying all these interests? We’re about to find out. Join us for a 30-minute (don’t be late, o) webinar with Nene Mboweni on November 1st, 2016. We’ll be discussing what it takes to be a student with a side hustle and answering your burning questions about the entrepreneurship/student life. Register below to get the exclusive link to the webinar. Some of the topics we’ll cover: Turning your side hustle into a business Networking on campus and beyond & leveraging your connections Balancing your business, your studies & other responsibilities Preparing for post-grad life when your studies don’t match your business Webinar Details: Date: Tuesday November 1, 2016 Time: 8:00am NYC // 1:00pm Lagos // 2:00pm Johannesburg Watch this webinar: Don’t miss another inspiring webinar! Join our community today! Click here. About Nene Mboweni Nene Mboweni (21), matriculated in 2013 from Crawford College, in Sandton. She is currently enrolled at Wits University studying Biomedical science and to complete her final 3 years in Medicine at Wits. Nene works part-time at the Natalspruit hospital in Vosloorus on weekends and during her vacation. She is an avid baker and founder of Nnüa cakes an online virtual patisserie and decadent catering company. Not only has she done work for reputable companies such as Transnet, Vodacom and Primedia, she has collaborated with Jimmy Choo and Luminance on a luxury line of cupcakes and also worked with various high-profile clients and governmental organisations, having recently just done the 80th celebratory cakes for the late former president of South Africa, Nelson Mandela’s wife, Winnie Madikizela-Mandela She is also the co-founder of Mkweni Groundworks, a women owned construction company providing services in civil engineering, Rail and other sectors. Nene has been featured in Forbes Woman Africa, Destiny Woman, Cosmopolitan for a lot of the work she has done . She is a part time tutor in science and Mathematics at Bophelo Impilo School. Nene is extremely passionate about education and contributes all of her profits towards providing bursaries for students on campus. She has incubated several community initiatives including but not limited to the Courageous Ladies and the AfriSun Trust.
Black women and the MBA: What to consider
Despite the fact that rising tuition costs have led some to question the true value of an advanced business degree, the MBA remains a popular course of study. It’s certainly expensive. And the first few years out of school can be difficult as graduates look to balance budding careers with paying off student debt. But there’s little doubt that in most cases, the MBA can also help the same graduates to obtain better jobs with more satisfying career paths. Unfortunately, however, there are still some disadvantages for women and people of colour when it comes to MBAs. Back in 2013 Lillian Lincoln Lambert, the first woman to earn an MBA at Harvard in Massachusetts, gave a speech in which she suggested that when she was in business school (in the late-’60s) people didn’t feel that black people or women should be there. In the late-’60s, this was a simple result of racism and sexism. In today’s environment those ways of thinking are less prevalent. But there is a lingering impression among many that business school is meant for white men. And of course, this doesn’t need to be the case. And despite questions about MBA value these days as well as continued disadvantages for women and people of colour, a business degree may be more worthwhile than ever for a black woman to pursue. Women and the MBA The most obvious reason for women in particular to consider the MBA is that more companies are striving to facilitate equality in the workplace. And thus, women are, in some cases, in high demand. However, that merely covers the value of the degree. There’s also tremendous value in the education and experience of business school, arguably more for women more than for men. One article a few years ago, listed reasons for women to pursue MBAs and essentially pointed out that business school offers an invaluable preview of a world typically dominated by competitive alpha males. By growing accustomed to asserting themselves in this kind of environment, women can be better prepared for a life in business. Diversity and the MBA Just as more companies are aiming to narrow the equality gap between how women and men are represented, many are also starting to address diversity in the workplace. Places of business are increasingly encouraged to go public with reports on diversity. And so, the need to hire candidates of different races and ethnicities has intensified. However, a report from the US citing surveys conducted by Bloomberg indicated a problem. Diversity in the corporate world is rooted in the lack of black MBA candidates. Indeed, the same report said that in 2014 only 6% of full-time MBA candidates polled identified as black. That means that black students, in addition to women, are “in demand,” so to speak, where business education is concerned. However, going for an MBA isn’t all about opportunism in the workplace. It’s also about pursuing a genuine jumpstart for one’s career. A few years ago an article discussed the benefits of the MBA for nine successful black women across a range of industries. The ultimate impression was that each of them benefited greatly from higher education. The MBA may be more accessible than ever for a black woman —but more importantly, it’s also legitimately helpful. Crafting a successful application The fact that some business schools are more focused on admitting women and people of colour does not negate the fact that applicants still need to be qualified. And, just as importantly, be able to showcase that qualification. Applying for business school is a major task. There’s an art to creating a successful application that goes beyond listing strong test scores or accomplishments. For the MBA and, really, post-graduate education in general, a lot of it comes down to personal expression. One program online provides a comprehensive coaching program for MBA applicants and emphasises the importance of personal expression. That particular program helps with all aspects of applications, the testimonials. And examples regarding essay writing should help you to get a feel for how personal the process is. Applicants need to show their passion for business, indicate their career ambitions, demonstrate their strengths, and honestly express a few weaknesses. Above all else, they need to do so in a way that stands out in a heap of similar applications! It’s a tricky endeavour, and even improving conditions for minority applicants don’t change that. Is it worth it? The tuition is high, the application process is difficult. Women and people of colour pursuing MBAs are knowingly walking into environments where they’re underrepresented. Yet, things are getting better in that regard. So is it really worth it to consider an MBA in 2016? Frankly, this depends almost entirely on one’s own situation and ambitions. Finances, job prospects, and career goals all factor in, and they’re different for everybody. What is clear, however, is that being black and a woman is no reason to avoid business school.
9 non-cliché ways to celebrate International Women’s Day
International Women’s Day is upon us! On March 8th, women all over the world will be celebrated as part of International Women’s Day. Every year, this day comes and goes, and sometimes we don’t even notice it. Or for those of us that do, we spend it doing the same thing – girl’s night! Spa day! Now, there’s nothing wrong with any of these things, but for you, this year is a little different. Why, you say? Well, because this year, you have us at SLA to show you a new way of doing things to mix things up. Below are 9 ways you can celebrate International Women’s Day this year in the least cheesy, least expensive, most fun way possible. Spend time with your mum Mothers are great, and honestly, they won’t always be there. This International Women’s Day, make the most of the time you have with the wonderful woman who bore you. Take her to her favourite restaurant, watch a movie with her, cook with her – however it is you usually bond. You’ll be surprised by how much she’ll appreciate your spending time with her, and more importantly, how much you’ll learn from being with her. Parents have feelings just like us, and doing this would definitely create a greater bond between you two. Celebrate with women you admire If you have a mentor (which you all should have, but more on that later), this is the time to reach out to her. Mentor-mentee relationships should not be one sided with you always taking from your mentor. You should consciously seek ways to add value to the life of your mentor as well. On that day, treat your mentor to lunch or a coffee date. If there’s someone else you admire who you haven’t yet built the mentor-mentee relationship, then this is a great opportunity to do so! Not only would the person be flattered by your thoughtfulness, you will also get the added bonus of a great conversation with someone you look up to. Give back to other women Get involved at an NGO or social enterprise that is all about empowering women and girls. Alternatively, you could even volunteer at your local community centre or help out at church. The point is to find ways to reach out to women in your community who are in need of help or rehabilitation, and there are many opportunities to do just that. Accomplish a personal goal Remember that thing? That important-but-oh-so-scary thing that you’ve been procrastinating on? Yup, you know exactly what I’m talking about, it just came to your mind now. Yeh, so get.it.done. There is no better way to celebrate than accomplishing a seemingly daunting task. The more difficult it seems, the better. Let your triumph be your gift to yourself this International Women’s Day. Invest in your career This year, Accenture is hosting an event to discuss issues centered on women in the workplace. If you’re in New York, Dublin or Sydney you can attend any of the sessions. Also, the event will also be broadcast online, so regardless of where you’re located, you should check it out. For those of you interested in consulting, this is a great opportunity to connect with Accenture consultants and recruiters, even if you’re not able to physically attend the event. Visit a local women’s day event near you Between networking mixers, concerts and art exhibitions, there is a Women’s Day Event in literally every city. So much so that the UN has made our lives easier and compiled a list of all these events here. The theme this year is #PledgeForParity, and so a lot of the events will raise awareness to the pay difference seen between men and women. There will of course be other issues involving inequality that will be addressed as well, but this would be a great time to learn some more about the problem and what we have to do to reverse it. Support other women There are many wonderful women doing powerful things, and we can all find ways to support their enterprises! This Women’s Day, visit that gallery run by that woman whose art you admire, splurge on that outfit by that designer you adore, download that innovative, game-changing app! If you need inspiration, feel free to draw from one of the many entrepreneurs we’ve spotlighted here at SLA. Fortunately, there is an surge in talent and this trend is something we all want to see continue. Learn about impactful women I know, I know. I promised you a fun list, and here I am bringing homework. Since when was learning ever fun? But hang on there, it really depends on how you do it. Get a group of friends and make it a fun, interactive activity. (Games night anyone?) Play a game of trivia and discover who among you knows the most about famous women civil rights activists. Here, I’ll even give you a few key starting points: Maya Angelou, Funmilayo Ransome-Kuti, Gloria Steinman, Nina Simone, Chimamanda Adichie. Winner gets bragging rights, and a bag of treats! Spend it alone – Treat yourself by doing absolutely nothing If you want to stay at home, basking in the presence of your awesomeness that is totally fine with me. Just make sure you commit and go all out while you’re at it. If it’s going to be you and a book, don’t just stop there. Grab that book and curl up with a hot cup of tea, hot chocolate, biscuits – whatever your favourite comfort food is. If your thing is Netflix, you’re in luck, House of Cards will be back by then, so you have a long day of political drama ahead of you. But even better, you can watch a movie that passes the Bechdel Film Test. This year, do things a little differently. Celebrate the powerful women in your life and yourself for being just that – powerful.
5 ways to out-hustle the competition like African market women
African women are naturally inventive, creative, and entrepreneurial – we aren’t the idle type. We work with our hands, minds, and wits. We find things we’re good at —even if it’s just a hobby. If you’ve been to Makola market, in Ghana, you’ve seen the endless rows of stalls, tables, kiosks and booths of market women selling everything from baby diapers to tomatoes. There are usually rows of women selling the exact same thing within yards of each other. It struck me how they made a reasonable living selling goods and produce in a market that’s saturated with other merchants selling the same things. Rather than dwell on the mysteries of Makola, I saw the poetry in their ways and learned a few lessons about business and life from these hardworking women. 1. Auntie Yaa shows up every single day Auntie Yaa knows she has severe competition, after all, there’s nothing new under the sun. But in a crowded marketplace, victory goes to the person dedicated enough to show up every single day. For many market women, like Auntie Yaa, that little stall of sundry provisions is all they have. Consistency is key. Their one chance of affording life’s bare necessities are contingent upon waking up earliest, showing up every day, and hustling like their lives depend on it. 2. Sisi Lola makes her presentation count Sisi Lola knows when it comes to drawing in customers, it’s all about presentation. In a crowded market, your brand presentation is everything! Make sure your brand is visually pleasing and effectively communicates your message, and not just the product or service you’re selling but yourself, too. Personal branding is very important in today’s global marketplace. The woman with the brightest Bubu, or the catchiest call, wins. 3. Learn to barter like Aminatta Aminatta knows the value of trading without money. Exchanging what you have or your services, for needed services from another, is a good way to get your business off the ground and build connections with other business women. Pay if you must, but barter if you can. 4. Mama Hajara keeps ‘em coming back with stellar customer service A market is a busy place and everywhere, vendors are harping, buyers are haggling, and traffic is passing. Mama Hajara can bank on daily success because she keeps her customers coming back for superb customer service. She goes beyond pleasantries and makes each one of her customers feel like a good friend. She knows their names, the names of their children, she may even know where they live. She stays in business by encouraging loyalty through friendliness. There’s no better way to ensure customer loyalty than stellar customer service. 5. Auntie Gloria keeps a Tight grip on her money belt If there’s one thing you know about successful market women, it’s that they use knots in their cloth to manage their money. Being able to put your money in buckets allows you to see how much money is coming in and budget for continued business success. Auntie Gloria keeps separate knots for covering costs, profit, savings, and business reinvestment and growth. Being financially savvy about your business is key to being a successful entrepreneur. So Motherland Moguls, which hustle tactic can you start using to grow your business? Have any additional lessons to share?
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