Making lemonade out of lemons: How my struggle with depression shaped me into a confident woman
My mission in life is not merely to survive, but to thrive; and to do so with some passion, some compassion, some humor, and some style. -Maya Angelou Recently, I got to check off something my bucket list —to see Beyoncé in concert! A recurring theme in her phenomenal performance was overcoming the obstacles in life. The message was one of survival even with the odds stacked against you. It was about making something beautiful out of an ugly situation. It was definitely making lemonade when it seems like all life has served you is lemons! I left the concert on an emotional high while combing through my past experiences and tallying the number of ways my struggles have shaped me into the woman I am today. Mental health, specifically depression, has had a grave impact on my life. It is one battle I have fought constantly throughout my adolescence and adulthood. I have had more low times than I can recall. There were times when I felt that happiness was permanently out of my reach. Those times, it felt like this disease would always stand in the way of me achieving my dreams.Now, I know that I can choose to either focus on the negative or pick out the lessons it has taught me. The choice is entirely mine. So, in the spirit of making lemonade out of the proverbial “lemons of life”, here are some of the positive things I have learnt through my journey with depression. You become more self-aware The famous Greek philosopher Socrates said, “the unexamined life is not worth living.” In this age, we see a lot of people eager to emulate the lives of others in the hope of achieving the same level of comfort, wealth or fame they imagine these people have. I think a lot of people don’t really take the time to truly find themselves. They are unable to decide what makes them happy and what they truly want out of life. Depression is one of those conditions that forces you to take a deep, long and hard look at yourself. I try to understand the reasons behind my depression, my reaction to certain situations and how I can be more positive in spite of it. These insights, in turn, have come in handy in navigating other aspects of my life. You become more empathetic towards others It’s human nature to sometimes make snap judgments about people we encounter, even when these judgments are made based on very little facts. Dealing with depression made me realize that you can never really know what someone else’s life is like until you’ve walked in their shoes. Also, the longer I had depression, the easier and more willing I was to help other people. I took the time to ask questions, listen to their stories and try to support them on their journey as much as possible. If employers had more empathy towards their staff, governments towards their citizens, individuals towards strangers, the world would be a more tolerant place. Depression taught me that sometimes, it’s better to ask questions first and save judgment for later, or never. You become more resilient There have been many times when I almost threw in the towel because I didn’t think I could ever truly beat this disease. It seemed pointless living a life of diminished quality. Now, with medical treatment, therapy and the love and support of my family and friends, most times I’m able to go months without having a major depressive episode. The more I learn about my condition, the more empowered I feel to handle it and not let it control my life. If there’s anything depression has taught me, it’s how to be strong and resilient. I have fought for years and I’m still standing! I try to apply this same attitude to my personal and professional life. I know that no matter how tough a challenge is, the rewards will be beneficial to my growth and maturity. Finally, let’s get more comfortable with talking about issues regarding mental health in our African societies. By being willing to listen and learn about the struggles of others, we give them a chance to express and embrace themselves fully. Our societies will benefit from having citizens that are adequately equipped to cope mentally with the daily challenges. Want to inspire us with your personal stories on SLA? We’d love to hear all about it here.
4 dating ideas for busy girls
Like it or not, it happens. You finally decide to do something about this awesome business idea or project, you get immersed in it, then you begin to get tired as this somehow takes over your life. Suddenly, you look up and realize you have no significant other or anything close to it. You’ve been out of school for about a decade or so which means you’re in your late 20s or early 30s. So, you sort of forget how these things are done. I know it’s not exactly science, but dating demands some effort. Putting in the grunt work now while you’re still young, is so worth it to find the ‘right’ one for the next phase of your life. Here are my top four tips for dating as a busy single girl, whatever it is you do and no matter how old you are. Ask for introductions Ask your family and friends for referrals. Be downright shameless if you have to! These people know you better than anyone else and will help you meet suitable, pre-vetted people. You know, like in the same way having someone pass along your resumé can help. This is an effective way to expand your existing circle. Though there’s no guarantee that this would work but who knows, you might just end up with a new friend or gist buddy. Be creative with the little time on your hands No, really. Get innovative. It doesn’t have to be anything nerve-wracking but literally, get yourself out there. I’d say take this glorious moment of singlehood when your life isn’t jam-packed with commitments (except, of course, making truckloads of money). You may even start giving off that irresistible vibe of a person with passion. You then become the more attractive to potential dates. If you’re an introvert like me, going out might be pretty difficult and I’d suggest doing only things that make you comfortable. These ideas prove that love doesn’t really cost a thing or much: – Volunteering – Free concerts – Go to the movies – Attend weddings…I know it’s cliché but still. – Go out with friends – Attend birthday parties You never know where the right people might find you. Online dating … don’t rule it out yet It’s hard to deny the fact that online dating isn’t just the new normal —it also works. Of course, like all good things, relying on online dating has its downsides. So, I’d say be careful (you’re too smart to be scammed, girl). Be sure to keep your expectations in check. Remember, even a bad date can be a good learning experience. Invite the best. Cut off the wrong people You’re already so busy and can’t afford the luxury of having the wrong person around you. Don’t be one of those people who hang around, enduring disrespect, taking inconsistent calls or texts, hoping that one day this person will change. Give yourself a little tough love and delete the wrong person(s) from your life. You don’t have to convince anyone of your worthiness. Trust yourself and let go of the insecurities and soon, you’ll know what to do and who is right for you.
5 lessons I learnt about navigating the entrepreneurial roadmap with Nieros Oyegun
At SheHive London, Nieros Oyegun, principal and head of Corporate and Financial Advisory at W8 ADVISORY gave an insightful talk about navigating the entrepreneurial roadmap. Here are five things I learned that I’m sure will be useful to you too. 1. It starts with an idea For any entrepreneur out there, the first step they took towards starting their business is coming up with an idea. This may seem like the most basic step but thinking about a product that is marketable is key to overcoming the hurdles that will come in the future when it comes to financing and growth. So to start off, you need to figure out what you are going to be selling, how you will be selling it and who your target market will constitute of. 2. Understand the environment It is important to understand the environment you will be doing business in. Ask yourself, whose market share are you taking up with your startup and what are the opportunity costs. You need to pick out your competitors and understand their habits, they are factors that could contribute to determining your growth rate and customer base. 3. Approach investors Cold-calling investors is not the way to go. Try and build your contacts and get someone to introduce you to potential investors. When pitching to investors, keep your pitch skeletal and to the point. Try and demonstrate why you think your product is marketable and how it can make your way to profitability. In essence try and think like an investor and understand the risk-investor matrix of your business. Also, make sure that when you leave investor meetings, you clearly understand expectations from both sides and where you stand. This is because there is always the risk of buyer’s remorse with the investor, they may decide not to go ahead with funding the business. So do not relax until the money is in your account! 4. Find a partner A one person startup usually hinders investment opportunities. This is because it is difficult for one person to take on all the roles in a company. Therefore investors are more skeptical of putting resources into such a business. Finding the right partner and their potential long term contribution to your business can aid you in getting investors. 5. Consider self-funding When it comes to funding your business, look into self-funding through your savings, applying for grants and accelerator programs first. If you bring in a partner, you should be cautious of how much equity in your business they control. It is sometimes the case with start-up businesses that at the early stages, the partner is active in helping set up but once the business is up and running, their role is limited so having a huge percentage of equity is disadvantageous to you. Institutional investors are the later options to look into for funding.
Hi there, new career
As a young person living in the information age, I’m glad I can ignore the norm and choose my life’s path. I like that I can decide to either go into a business or choose paid employment. Really, due to the current economic rat race, young people should dare more instead of being mere spectators. Yes, there’s the need to survive, save some money and launch business ideas but you may just need a new career. Only a few companies are willing to keep up with the energy and novelty of young people anyway. But this does not in any way mean you can’t make things work for you as a young woman. Here, you’ll find a couple of ways to make employment work for you, especially if that’s your choice: Know your stuff You’re expected to add value and make a certain contribution to whatever industry you’re in. This means you need to read, research and be up to date with trends in the industry. This way, you’ll stand out and have better chances at promotions, raises and maybe even a smart pep talk with senior management. In the event that the first two benefits never come, don’t give up just yet. Keep furnishing yourself with all possible details, attend workshops and push for training. If it appears that your employer does not see your value, you may need to search elsewhere because another employer will! Network This cannot be emphasized enough in today’s job market. A lot of doors are open for folks who never cower in a corner, waiting to be noticed. You pretty much have to get out there and talk to people. Get linked with industry experts and mentors who can walk you through this journey. The probability of your success and growth will be a lot higher than if you don’t network. If you’re an introvert, don’t let this define you. You can find unique ways to approach people and network. Use your voice Sheryl Sandberg, COO of Facebook and revolutionary behind the ‘Lean In’ mantra argues that women have taken a back seat for so long at the workplace. This is so because we are not leaning in to ask for what we deserve as much as men do. Women tend to do a lot of the work then sit at the table waiting for an applause. Hey, great things don’t come to people who sit back. You’ve got to make demands on your success. Have you seen a man’s reaction when he’s accomplished a project, no matter how small? He walks right into the boss’ office and asks for a bonus/raise/promotion. Girls, it’s about time we did just that! It doesn’t matter if you’re labelled pushy, use your voice to get want you want. And hey, the worst you can get is a ‘no’, right? That never killed anyone, you know. Develop other skills outside your mainstay If you’re a marketer, try cultivating some design skills. If you’re an accountant, blend that with finance. If you’re in the hospitality industry, get into a language school. Find skills that complement your core profession. These seemingly little things make you unique in the workplace and help your career advancement. Never stop learning, and this is an ode to the power of the internet! You could learn a so much from the comfort of your home. Self-teaching is the new thing. And who knows, you could even start a business from that. Opening your mental horizons is one of the best things you can do to yourself especially when you’re young. Have fun I know this sounds crazy when your mind is mulling over how soon you want to switch jobs or leave full-time employment. But guess what, you need to grow where you’re planted and take in some sunshine while at it. Organize your desk, do fun stuff with your colleagues, kick start an employee initiative…try out things that punch monotony and her friend boredom. You could start by being grateful that you have a source of income, then get bold at realising happy and cheerful moments. This kind of positive energy is what you’ll need to be productive. Don’t sit with the whiners, you’ll be one of them before you know it. Good luck and be well. I believe you’ll make it. And remember, shoot for the stars!
4 tips for selling yourself on the spot, effortlessly!
I once had a position that involved cold calling people —without a script or template— and selling a product. I had no previous sales experience, and as you can imagine it was a complete disaster. The experience helped me realize that selling was a powerful art-form that I had seriously underestimated. It also gave me some good insight for when it came to finding ways to ‘sell’ myself to people I want to connect with. Whether you are an entrepreneur making connections, job hunting, or trying to win over co-workers, you need to know how to sell yourself. Many of us have no problem delivering a killer elevator pitch, or eloquently presenting our ideas. The problem comes when we have to convince everyone; why us? While being prepared is crucial, you may not always have the luxury of preparing. When put on the spot it’s easy to revert to a one size fits all prepared speech. To help with this I’ve come up with an acronym to ensure you can adapt on the spot. You need to think FAST. It’s not a template for a monologue but rather a few things to bear in mind in your conversation. Fit Getting the right ‘fit’ is about reading your audience, and deciding what skills or achievements would be relevant in that context. Yes, you are a #MotherlandMogul and you have LOTS of accomplishments, but is it necessary to list them all? Think from their perspective, and only include things that will help your pitch. Also mention things that you are working on doing, and not only past accomplishments. The Harvard Business Review points to a study which found that your potential could be as persuasive as your accomplishments. They note, “people are much more impressed, whether they realize it or not, by your potential than by your track record.” The study asserts that “when people seek to impress others, they often do so by highlighting individual achievements. Despite the intuitive appeal of this strategy, we demonstrate that people often prefer potential rather than achievement when evaluating others.” Keep it truthful and do not sell dreams, but don’t be afraid to use your on-going/future projects as well. Add value Essentially, you want them to realize they need you or at the very least your relationship can be valuable. Are there areas that you can collaborate with them in? Problems that you can solve? Demonstrate that you have grasped their needs, and paint a picture of just how you are positioned to solve them. If on the spot you have no prior knowledge, just ask what the needs are. What you want to avoid is going on about things that may not be relevant to them. Separate Unless you have a totally original idea or skill set, you must give compelling reasons as to why yours is different. Separate yourself from competition by mentioning the unique qualities/experiences that enhance your value. Salespeople would refer to this as a Unique Selling Proposition. Entrepreneur.com’s Small Business Encyclopedia illustrates this with some examples, “Charles Revson, founder of Revlon, always used to say he sold hope, not makeup. Some airlines sell friendly service, while others sell on-time service.” Whatever your personal USP is, make sure it actually adds value. Real estate coach Kevin Ward reminds us, “The goal is not just to be different. The goal is to add value to people in a different way.” (*For a humorous visual reminder of why different isn’t always useful, take a look at the Twitter account @WeWantPlates.) Tie it up So now you have won them over and you have buy-in. Remember, the goal of ‘selling’ is to make a sale.Wrap up your conversation by setting clear ways to follow through. Ending a conversation with:“We’ll chat more later” won’t cut it. Make sure you collect! Set dates, get signatures, do what you came to do. Don’t let a good sales pitch go to waste!
Leave or Remain? Lessons to take away from BREXIT
This year has been a huge year, politically. From the UK voting to leave the European Union to the US elections, we are in for a year on continued market volatility as a result. Through all the apparent doom and gloom, there are always lessons to learn! In this case, an interesting dynamic is emerging and all women must take note! Women are increasingly taking on dynamic political positions. As a politics student and resident of the UK, the Brexit week had me really in my feelings. The only positive thing I could take away from it was a better understanding of female leadership and the role we can play. What better way to look into this than to call out the top 4 women in the Saga? Let’s take a look at them closely, shall we! Ladies, a round of applause for Angela Merkel, Andrea Leadsom, Nicola Sturgeon and Theresa May. These women all have preference for short hair in common. (Sidebar- why do most women in politics have short hair??) Angela Merkel – She ain’t sorry ‘Madame-Non’ as she is known in France for her steely resolve and firm approach to politics, Angela Merkel is a woman who embodies the small but mighty leadership style. She is the Chancellor of Germany and the leader of the European Union in terms of GDP. Madame Merkel has been under a lot of scrutiny for her approach to Syrian migrants and her pro-EU stance and policies. Ladies, we can learn a lot from her. Through the Brexit debacle, Madame Merkel has said the same thing consistently: no entry into the single market if you will not uphold free movement of people. Her no is no and her yes, yes and she ain’t sorry! In other words, she is a principled woman who upholds the values she believes in without deviating from them. She is said to defend the four freedoms of the EU fiercely. She is also willing to allow the UK time to find its feet before making any drastic decisions. As a leader, Merkel shows us that you need to know what you stand for and defend it. Andrea Leadsom – Know when to fold Ms. Leadsom’s rise to the post-Brexit stage was incredibly unassuming. She emerged as the other top Brexiteers seemed to collapse. Gaining fame in her pro-Brexit role and making convincing speeches during the campaign, she seemed a natural choice for Prime Minister. Especially when both Boris Johnson and Michael Gove were engaged in a modern Shakespeare tragedy. It was almost as if she was the last (wo)man standing. She stood well for a couple of days but as time passed, she found herself putting her foot in her mouth a couple of times. Ms. Leadsom finally decided to graciously bow out of the race. Allowing someone with more experience take the role even when they were on opposite sides of the vote. In life and leadership, it is just as important to know when you cannot perform a role as it is to know when you absolutely can. Leadsom was smart, she understood very quickly that she was not equipped to shepherd the UK through a very difficult reality. And that if she could get overwhelmed by a simple scandal, there was no way she could live peacefully at No. 10, so she stepped down. Are you fighting for a position you are not certain you can handle? Perhaps you need to re-think this. You need to understand that leadership is just as much about stepping down as it is about stepping up. Nicola Sturgeon – Don’t just roll over Nicola Sturgeon became a headliner through the Brexit saga. She proactively denounced the results of the referendum and quickly went about the business of securing Scotland’s interests. Some of you may remember that there was a Scottish referendum in 2014, where Scotland voted to remain in the UK. The main reason they did so was to remain in the EU. UK politicians had threatened that Scotland could not hack the big EU outside of the safe UK. Well friends, two years later, Scotland has been dragged out and Nicola Sturgeon is doing everything in her power to ensure her people still have a voice. She proactively met with EU leaders post the vote. She gave an incredible speech encouraging her people that she would indeed lead in their interests. Ms. Sturgeon emerged a total bombass: proactive, clear and firmly defending her people. Sometimes leadership is about proactively having the difficult conversations. It’s about taking advantage of the moment to voice your concerns for your people! Theresa May – The patient dog indeed gets the biggest bone Of all the ladies discussed above, Madame Prime Minister Theresa May won BIG through the Brexit Saga. She emerged as the only stable choice for Prime Minister as it became clear that all other options were like ticking time bombs. Mrs. May remained very low-key throughout the Brexit campaign. A solid remainer, she was wise enough to hedge her bets and go underground. She remained largely silent until the cards started to crumble and she emerged as a dark horse. Mrs. May is very direct and straight talking and has established herself as an outsider to the rich boys club in the conservative party. Of all the politicians who were so vocal in the campaign, she remains sturdy and silent and this approach paid off heavily. She ended up being viewed as a steady pair of hands who could rationally lead the UK out of the EU. She definitely practiced waiting her turn and when the time was right, stepped up loud and clear. Leadership is sometimes about timing and Theresa May understands this very well. So there you have it Motherland Moguls, four examples to learn from. A time of crisis will show you who you really are. So much more than a time of calm ever will. How would you handle it?
Beyond the passion – What you need to get into the caregiving business
Are you a woman who wants to ensure that her family and community is well looked after? Are you passionate enough to sacrifice time and energy? Do you have some basic administrative, managerial or business skills? Maybe you’re thinking none of these requirements apply to you, but are you ready to be spat on, clean washbowls or change thousands of soiled diapers? Then the caregiving industry might just be the revolutionary business idea that you have been seeking. Mind you, it’s painstakingly hard but it is one way to give back to society whilst paying the bills. Interestingly, a famous African saying says, regardless the source of the income, money is money. I am sure that at this point your heart might be doing cartwheels at the thought of the coolest business idea ever. The fact is that home care is one of the fastest-growing businesses in the world. You can be rest assured that without a large capital and clients, you can feed your passion by starting a daycare for children or a nursing home for the aged. Location If you have a roof over your head, then you have the space to start and work with. Is your child in preschool? Are you a divorcee living alone? Or are you an elderly couple with kids off to university? You can always make space with what’s available. It could be a nursery turned into storage, a den that no one sits in anymore, an empty garage or a basement without piles of laundry. It will surprise you just how well, using the right colours, textiles, paint and partitioning can transform a space. Furniture and equipment Getting your initial set up furniture and equipment can be as easy as reaching out to friends and family, A lot of times, families hoard furniture in the hope of re-using them, but most times, they don’t. If you have a network that is accommodating, reach out to them for their old stuff. Most of these items are barely used and have minimal damage. They can be repaired at little cost. Staff Hire retired nursing aides, nurses, and early-year teachers because, with their experience, they are typically patient, may have less responsibility or financial needs and will be willing to help you grow your business. Recruit young people who are willing to work as volunteers for the first couple of months till you settle your financials. Acquire knowledge The worldwide web has a multitude of free resources and courses for business owners in the caregiving industry. Sign up for these courses as often as you can, acquire knowledge on creating a business plan, new trends and best practices in the caregiving industry. Research successful businesses in the industry, you can target studying one business a day. Learn new skills to minimize calls to experts for help with things as basic as installing a nursing station. Train your staff on acquired skills. Create a dynamic team. Give yourself space to grow! Your clients are right here Your clients are never in space or in the next city. They are the people you meet within the marketplace, at the hospital and at your place of worship. Familiar people will feel more relaxed because they think they know your story and can relate to it. They will feel safer around you than some savvy business owner who launches a similar start up in your area. These are your clients; be sure to invite them to your open house. Seek their ideas before implementation. Also, find out what their immediate needs are. Would they work full time or would they prefer a full day care? Are they more focused on the social interaction a group setting will offer? Furthermore, the elderly might just need to be tended to at different times or a group where they meet and discuss. That cozy setting might be your house. You can set up games and make homemade goodies, to create the perfect setting for old stories of love and war. Marketing and advertisement Design and print catchy flyers. Distribute them at supermarkets, playgrounds, schools, and hospitals. Also, volunteer for community engagements. These will increase your visibility and increase your trustworthiness. Remember that your most valuable marketing tool is word of mouth communication. This will get people talking positively about what you do. Registration and legal requirements Always ensure that you do a research on the requirements of registering a business in your country. You would want to create an atmosphere that is loving and devoid of stress. Seek advice within your network. You might just know a lawyer willing to assist with the registration procedures at a discounted value.
The 4 minute guide to SME marketing: Everything na packaging
This article in the on-going series was largely borne out of a personal experience. Did I mention that I am testing the entrepreneurship waters myself? To digress a little, I think there is a side-gigging bug making the rounds, especially in the city of Lagos. Let’s do a quick poll if you currently work a 9-5 job but still want to take charge of your working life, do what you love and not be dictated to by corporate rule, say Aye! Well, my business partner and I had a mini-debate about how products should be packaged for potential customers. My stance was a very practical and cost minimizing one seeing as ‘affordable’ was at the core of our proposition to customers. But she, on the other hand, believed in making an impression because from her perspective and quite truly, packaging can make all the difference! Let me quickly explain why this is so. Remember that saying about dressing how you want to be addressed? The same can be said of product packaging. Humans are largely visual beings and can form lasting impressions based solely on what they see. Also, seeing as we live in a cluttered world, you want to be able to, with your packaging, get people’s attention and inspire them to take action. Now I am not going to over-flog the “Packaging Matters” discourse because I am almost certain that as a (potential) business owner this is something you are definitely aware of. But while you do the needful, there are 2 things I think you should keep in mind: What’s your business model? As a new business, especially, one playing in an already saturated field, one way to win would be through your pricing model. You should actually aspire to deliver the lowest cost to your customers in the form of lower prices. This can guarantee you a spot on customers’ purchase considerations. I mean who doesn’t want to pay the lowest price for the best quality, right? If your promise is the lowest cost, perhaps you shouldn’t spend so much on the packaging of your product seeing as every cost you incur would have to be taken care of in your selling price. Of course, you should consider this if you intend to make a profit and remain in business. Going minimalist (please do not read this as tacky!) with your product packaging shouldn’t bother you at all if your proposition to customers clearly explains why that is necessary. So for example, ever noticed the difference in packaging when you shop via Jumia or Konga (proposition: lowest price guaranteed) as against shopping at a Montaigne Place (proposition: luxury at its best)? Packaging versus Product Quality I am sure we’ve all had this experience before. You go to a fancy restaurant with the most fantastic ambience and the food turns out absolute crap. Mind you, this is after much pomp and pageantry. Or you pick a pack of biscuit off the supermarket shelf because of a package design too catchy to ignore and discover that it tastes like sawdust. In both aforementioned instances, you’d have to be a masochist to want to relive that experience. The learning, therefore, is this: you can inspire an action (purchase) with package design but if the product/service experience does not meet expectations, there would likely be no repeat purchase. More important than the package design is the product/service quality because that’s what ultimately delivers value. There is the need to fully understand how your desired customers define value and give them that, else any other thing you do would be counter intuitive. So you start a hair salon business, what would your ideal customer appreciate more; gold-plated mirrors from Dubai or gifted and experienced hair stylists on your payroll? This is the ideal process: Know your intended customers. Understand their needs. Create a product/service that fully satisfies those needs. Then properly package that product or service. Do not attempt to prioritize no. 4 over no. 3. There’s so much more we can say about packaging but this is still the most important thing: “Packaging is a substantive aspect of your marketing strategy that you should pay keen attention to ”. Cheers!
Negotiating your way to financial success: 4 essential steps to effective negotiation
Women often shy away from negotiations for fear of being perceived as aggressive or of losing the offer. However, we tend to forget that the people we negotiate with are, sometimes, merely doing what they are hired to do – secure a deal at the best price possible! Indeed, at other times, the negotiator may be just be sticking to a strict budget or testing the waters. For example, I spoke to a Ventures Capitalist who stated that he could not trust an entrepreneur who never attempts negotiating an offer because such a person would most likely attract a lot of “lemons”, i.e. deals that no one wants. As such, when a potential business partner or employer offers a seemingly ridiculous price, do not take it to heart. Instead, Pause. Breathe. Negotiate! The goal of every negotiation process should be to negotiate effectively. Effective negotiation involves these key elements: Research Before commencing on negotiating a price, it is imperative that you conduct a thorough research. For example, if you have been offered a new job, you should embark on a prevailing salary research on the said job role. This information would come in handy and serve as a backdrop during your salary negotiations. On the other hand, if you are negotiating with a potential business partner, your pre-negotiation research might focus on determining your potential business partner’s interest and positions in relation to yours. This would greatly help create value during negotiation. Understanding your best alternative to any negotiation This is a great tool for preventing an undesirable outcome to a negotiation and guaranteeing financial success. For example, have you ever had those moments when just moments after agreeing to something, you blurt out, “why did I agree to that?” or “what was I thinking?” While this may be okay when negotiating with your siblings about who should do the dishes, this (hopefully) should never be the case when negotiating with a new employer for that dream job or with that new business partner. To this end, it is critical that before any negotiation, you determine your options (i.e. substitutes to your ideal negotiation outcome). To begin the process, first, determine your minimum threshold for the object of negotiation. For instance, if you are preparing to negotiate a new job offer and you are not willing to accept a salary below the current one, then your current salary is your minimum threshold. Secondly, on identifying your minimum threshold, determine your alternatives in the event you are unable to negotiate this with the new employer. Write these alternatives down in an order of preference. Your best option on the list should be one you’ll be happy with. Active listening It is also critical that you show some flexibility during negotiation by making a sincere effort to understand the other party’s points. This is can be achieved through an active listening habit. Active Listening ≠Hearing. John M. Grohol states that, “active listening is all about building rapport, understanding, and trust.” Active listening requires that you understand and make a genuine effort to understand the other party’s point of views. It requires: (a) Rephrasing what you believe you heard from the other party: This involves using phrases such as “to make sure I understand, you would like…”, “I understand you feel…” and “to make sure I capture your concern…” (b) Seeking clarity: During negotiations, it is also imperative that you seek clarity on fuzzy points. For example, if the other party has drawn a conclusion and you are unable to determine the logical steps to such a conclusion, seek to understand the underlying assumption. Examples of helpful phrases include: “You concluded XYZ, please can you explain the rationale?”, “what factors did you take into consideration in reaching that decision? etc. (c) Acknowledge the other party’s effort: It is good practice to acknowledge the other party’s sentiments during negotiations. This can be captured by using phrases such as “I understand you feel…”, “it appears that you are…” By implementing the different elements of active listening, you will capture the other party’s attention and help break down resistance (if any). Growing the pie (a.k.a. problem solving or value creation) Indeed, despite showing off superb active listening abilities, negotiations could still end up in stalemates. Even with a lot of patience, this is usually the time where people throw in the towel. But wait, not so fast! Do not give up yet, not without injecting a good dose of creativity into the process. So what exactly does injecting a good dose of creativity mean? This means looking for creative ways to make an unattractive deal attractive. The key here is to determine other factors outside your negotiation points like factors that the other party may be willing to consider (and vice versa). For example, assuming you own a sports drink company and currently seeking investors. On evaluation, your financial statements reveal the need to raise $60,000 and based on valuations, $60,000 equates to a 5% equity stake. Of course, you’d be confident to offer a lower equity stake for $60,000 as the minimum threshold for that percentage of the equity stake. If during negotiations, your preferred potential investor, who owns a sports club, offers $60,000 for an 8% equity stake. This counteroffer falls below what you’d expect but you would really love to have this investor onboard. Rather than end negotiations immediately, you could consider asking if she may also be willing to make your sports drink one of the choice drinks at the sport clubs or introduce you to other sports club owners who might be interested in serving your drink in their sports clubs. This could create publicity and boost sales for your sports drink. Some good phrases for these starting conversations may include “what if…”, “suppose we were to…” The agreement Once you have successfully completed negotiations, it is imperative that you put your agreement in writing. Writing an agreement is an essential step in ensuring that all parties are on the same page (indeed,
We need to start teaching women about entrepreneurship early
As young girls, we may have thought that that success in the real world means success at a corporate job. Working towards this goal, you start first by making sure you do well in school, entering into a good university, passing at university and ultimately finding a prestigious job in the corporate world. It really is tempting to believe that success in the corporate world is the only success that matters. But when you get get exposed to different kinds of people and career paths, you realise it’s not. Especially when you encounter entrepreneurship, where one can control their own destiny. Then you realise that corporate is not the be all and end all, and there’s far more available to you than climbing the corporate ladder. In my own life, I’ve come to see that there’s a huge misconception about entrepreneurship among women and I’d like to debunk some myths. It’s not as daunting as you think To some women, just the thought of struggling or having to put their lives into something that isn’t guaranteed to last, can be daunting. There is more focus on the negative rather than the possibilities of making entrepreneurship work for you. It’s true that we all fear of the unknown. When you add unforeseen risk to that, staying in your comfort zone seems easier. But staying in comfort zones implies that you’re scared of what starting your own business might bring. Yet there’s always hope. I’ve learn a few things in the past two years. It comes from being exposed to what entrepreneurship is and meeting various people that have found their passion here. Most important to me is, the advantages of being familiar with entrepreneurship from an early age. Start young Girls graduating high school need to know that entrepreneurship is an option when it comes to career paths. Once girls understand what it is, and what they can contribute to this exciting career path, self-doubt will vanish. Here’s how it works. High School No, I’m not saying young girls need to start hustling from high school. I mean that the knowledge needs to be instilled from there. This way when girls head to university, they know have an option to study entrepreneurship further. During school career fairs, the concept of what entrepreneurship is and what it offers should be shared. The onus is also on the high schools to make entrepreneurship knowledge more reachable to students. University and onwards Though Africa has many good universities, we have limited options for entrepreneurship as a degree. I didn’t even know that you could study entrepreneurship formally. I recently found this out when my colleague told me about her daughter studying entrepreneurship in one of the universities in SA. I can’t lie, I was shocked. Most universities don’t offer a degree that isn’t related to a corporate field. Still, it makes sense when you consider that pursuing entrepreneurship doesn’t necessarily mean you are saying goodbye to the corporate world. There are many #MotherlandMoguls who are successfully climbing the corporate ladder, while running their own businesses. In my opinion, if you have the opportunity of doing both, then you should take it. Juggling the work load might be too much, but at the end of the day the results will be fruitful and worth it. Find a community This is not as easy as you may think. It may be hard finding a community of like minds at first but more women are creating organisations that allow women to come together. With these groups, you can freely share interests, passions and ideas. I think such communities should become available for young women from high school onwards. (Imagine entrepreneurship clubs in high school). This helps so young women won’t feel isolated in choosing this path. I’d like to see more communities for young women become a safe haven. This will help us relate to one another and create a trusted and supportive community.