Business Enterprise Training (BET) is an initiative of Lead Resources to educate entrepreneurs about financial analysis, digital business models and the digital economy while giving them the leverage they need for access to finance. It is targeted at entrepreneurs with a drive to start or scale up their businesses.
For entrepreneurs to access loans from institutions such as the Central Bank of Nigeria (CBN), it is legally required that they are trained by a recognized Entrepreneurship Development Institution (EDI) such as Lead Resources. The mission of BET is to raise functional entrepreneurs who can start and/or scale their businesses by accessing small interest loans from financial organizations to achieve their business goals.
Last week, Lead Resources held her first BET for the year 2021. Associate Solutions Architect (ASA) Adetoyese Oyedunmade (Team Lead, BET Team) coordinated this cohort, and she was ably assisted by ASA Itua Emmanuel and ASA Francis Edobor. The training held for 2 days (4th and 5th March 2021).
As is the norm, the last cohort of BET was a blended training, that is, part online and part offline. Every participant was required to take some basic online courses here, and present the required certificates from the undertaken courses. Subsequently, the offline training held at the head office of Lead Resources, Abeokuta, Ogun state.
On the first day of the offline training (4th March 2021), Mr Olufemi Johnson, the designated trainer of this cohort, taught the BET participants on Organizational Structure, Digital Business Models, Financial Planning, Marketing, etc. These topics were treated as independent, interconnected courses. The training, seeing as it was one filled with experienced businessmen, was more practical than theoretical. This first class lasted for 4 hours.
On the second day of the offline training, Mr Olufemi Johnson did a recap of all he taught in the previous class. He delved deeper into topics such as Business Plan Compilation and Executive Summary and ended with the crux of the convergence – Introduction to the NIRSAL Platform and Simplified Online Credit Business Plan Questionnaire. The participants were taught how to successfully access loans from NIRSAL and other financial organizations to start and/or scale their businesses. This second class lasted for 4 hours.
Afterwards, certificates were awarded to the BET participants, and feedback was received for better execution. The participants have gone on to apply their knowledge, and gain access to finance the right way.
Are you interested in finance to start and/or scale your business? Let Lead Resources give you the knowledge that gives you the leverage. Start by clicking here.
Tomiwa Babajide is an Associate Solutions Architect at LEAD Resources, a charismatic administrator, an SDGs advocate, a creative writer and a graduate of Microbiology. She is adept in transdisciplinarity, novel and adaptive thinking and virtual collaboration. She is zealous to provide real-time solutions to challenges in the polity. She loves to eat crackers and drink yoghurt, and she can pray and go on road-trips for Africa.
SDGs Solutions Convergence is a programme adopted by Ogun State Bureau of Information Technology, in collaboration with LEAD Resources, to train Civil Servants from various Ministries on how to identify problems, and proffer and implement relevant solutions in their Ministries.
Two editions of the SDGs Solutions Convergence have been facilitated by LEAD Resources at Ogun Tech Hub. The Solutions Convergences covered an introduction to the Sustainable Development Goals, the application of Design Thinking in Problem Solving, and the need to leverage emerging technologies to generate relevant solutions.
Last week, a dry run of the previous Solutions Convergence was facilitated by LEAD Resources at Ogun Tech Hub. This was done to equip the staff of the Bureau of Information Technology (BIT) with the knowledge required to conduct a Solutions Convergence for the Ministry of Finance and the Auditor General’s Office. Simply put, the dry run was aimed at “training the trainers.”
The dry run held for two days. On the first day, the participants of the dry run were reminded of what they were taught in the previous Solutions Convergence. They were given extra materials and tips for effective training. They were also taught how to carry participants along when conducting their Solutions Convergence for the Ministry of Finance and the Auditor General’s Office.
On the second day, the participants of the dry run were divided into three teams to conduct a test Solutions Convergence by themselves. By so doing, the areas for improvements were spotted for corrections. At the end of the dry run, the participants saw the need to put more effort into preparing for the Solutions Convergence for maximum output and solutions generation.
At LEAD Resources, we pride ourselves as solutions architects that seek to contribute to the achievement of the Global Goals by proactively identifying opportunities, stimulating innovations, and generating solutions to problems/challenges in our polity.
Oluwatobiloba Dairo is an Associate Solutions Architect at LEAD Resources, where she is exploring a rapid Knowledge Acquisition path, building digitized competencies relevant for Career Development, and stimulating solutions for individuals, organizations, and the Government. She is a graduate of Mathematics and an advocate of women in Leadership. She is interested in Financial and Data Analysis.
“If you don’t know where you are going, you will probably end up somewhere else.”
Lawrence J. Peter
Many people feel lost. They work hard but never seem to do anything worthwhile. One reason people feel this way is that they haven’t spent much time thinking about what they want from life and haven’t set themselves formal goals.
The process of goal-setting helps you choose where you want to go in life by identifying what you want to achieve and where you have to concentrate your efforts.
There are three basic steps in the personal goal-setting process:
Understand: Understand yourself by knowing what motivates you and what you want to achieve.
Collect & Create: Compile an extensive list of what you want to achieve.
Prioritize: Is it worth your time, is it relevant and is it sustainable?
One easy way to ensure you achieve your goals is to set SMART ones.
REVIEWING YOUR LIFE GOALS
Goal-setting is not enough. Reviewing your goals regularly is quite important to determine whether they are still relevant, and whether you are on track. If not, you need to adjust them in line with your current situation.
By reviewing your goals, you can measure your achievements. If you fail to achieve one step, you can reassess your situation and try new approaches.
Keeping your goals defined and updated as your situation changes is one of the ways to stay motivated throughout your journey in life.
When you’ve achieved a goal, take your time to enjoy the satisfaction of having done so. If the goal was a significant one, reward yourself appropriately. This helps build your confidence.
Also, absorb the implications of goal achievement, and observe the progress that you’ve made towards other goals.
With the experience of achieving a goal, review the rest of your goals if:
You learned something that can lead you to change them.
You noticed a deficit in your skills despite achieving your goal. Take deliberate steps to fix this.
When setting your life goals, it is good to base them on your strengths, but ensure they are relevant and ultimately achievable. To achieve more, I repeat, set SMART goals.
For more insights and practical solutions on personal talent management and goal-setting, contact Lead Resources here.
Adetoyese Oyedunmade is an Associate Solutions Architect at Lead Resources. She is an Agriculturist by profession and is enthusiastic about entrepreneurship.
People say that having nothing to do for a long period is bad for one’s mental health. It is also said that an idle mind is the devil’s abode. I believe that this is true. Research shows that being idle for a long period can lead to anxiety, depression, poor concentration, poor thinking capacity, forgetfulness, and even decline in memory.
Most times, we think of work as paid employment, that is, the exchange of services for money. Although this definition is technically correct, it does not adequately describe why work is necessary.
In Physics, work is defined as a force causing the movement or displacement of an object. Every human has the ability to exert some force that changes his or her state or the state of an object.
Therefore, work may be more meaningfully defined as an activity involving mental or physical effort carried out to achieve a goal. It produces something of value for yourself or other people. This definition highlights that work has a purpose. It is productive. Productivity keeps one’s mental health in check. Like a car parked for a long time, the brain deteriorates if left idle.
Work can be created. You should engage in some sort of work every day whether you are being paid or not. It may be as simple as reading, cooking, doing the dishes, nursing a baby, creating a playlist or taking a music class. Work to achieve a goal. Regardless of how meagre it seems, work uses brainpower. You can also practice mindfulness by taking a quiet stroll. This helps to eliminate the anxiety that comes with being idle.
LEAD Resources is a place where idleness is not an option. We pride ourselves as knowledge leaders who are gainfully engaged in thinking through problems till solutions are generated. Using world-class skills and techniques, we incubate ideas till they come alive and develop human capital till they become digitally competent and relevant to society.
Oluwatobiloba Dairo is an Associate Solutions Architect at LEAD Resources, where she is exploring a rapid Knowledge Acquisition path, building digitized competencies relevant for Career Development and stimulating solutions for Individuals, Organizations and the Government. She is a graduate of Mathematics and an advocate of Women in Leadership. She is interested in Financial and Data Analysis.
Before you start a business, you
need to have an idea that can birth the business. Generating a business idea is
not an easy task; sometimes, you may experience an “idea block.”
According to Wikipedia, a Business Idea is “A concept that can be used for
financial gain that is usually centered on a product or service which can be
offered for money.”
When thinking of ideas for a
business (old or new), it is very important to carry out research, pay
attention to details and follow a rigorous development and review process. Follow me…
Before an idea is generated, it
is wise to carry out research to identify the needs of your target customers.
Brainstorming is the key to Concept
Creation. You must also keep track of all ideas (as no idea is a bad idea),
evaluate them and determine which is most valuable and profitable.
This involves market research
where data about your idea is collected and analyzed. You must assess all aspects
of an idea before moving to the next stage.
A well-defined business plan
will steer your business in the right direction and increase the chances of having
a successful product launch.
At this stage, your ideas will
be developed. You should create manufacturing and operations processes and
market testing plans.
This stage involves a test market that is as close as practicable to a real market. Here, your prototype will be released to the public. The prototype will be tracked and your test market results will determine whether your idea is valid enough to become a product.
A successful product launch
should address whether you have:
A sufficient number of products in existence.
Correct planning and marketing strategies.
Appropriate documentation for your product.
Business Idea Development can be high-risk, time-consuming and money-consuming, especially if the wrong steps are taken. This is why we go beyond offering courses on Business Enterprise Training at LEAD Resources. We incubate your ideas and give you all the necessary support for a successful product launch.
Need some help? Contact us for organizational support here.
Adetoyese Oyedunmade is an Associate Solutions Architect at Lead Resources. She is an Agriculturist by profession and is enthusiastic about entrepreneurship.
The whole world was shocked by the news of the death
of Diego Maradona. Condolences and goodwill messages poured in from various
parts of the world in solidarity with the family. At this point, the beauty of
the world of football was revealed again as factors like nationality, race or
religion didn’t matter – everyone mourned the loss of Diego Maradona.
If you read the biography of Diego Maradona, you will
get a sense of the many achievements and successes he attained. His
achievements are so numerous that you may nearly miss the fact that he
struggled with drug and alcohol addictions. Despite the challenges he faced, he
was always determined to pick himself up and he continued to strive for
excellence. Diego Maradona won’t be forgotten by the people of Argentina and
the various clubs he played for because of the countless trophies he won with
and for them. His legacy lives on.
You do not have to be a skilled footballer like Diego Maradona to leave a legacy. Leaving a legacy encompasses positively impacting the people around you, making a difference in their lives and leaving a lasting footprint.
When I was in Junior Secondary School, I could not conceive the thought of becoming a school prefect. Why? It had never happened before in the history of the school that a school prefect would be chosen from the Junior Classes. However, I was about to be shocked…
can never forget this day: We were gathered for morning assembly, and this day would
be different because the prefects for the new academic session were going to be
announced. Suddenly, my name was called, and there I was, shocked to my bones.
I couldn’t understand what was going on because I was a Junior Secondary School
student, and it was unheard of for a Junior Secondary School student to become
a school prefect.
fact that the school made that decision made me realize that the little things
I had been doing since my admission into Secondary School had an impact on both
the students and the teachers of the school. My reality helped other students to
believe that the “unthinkable” was indeed thinkable and doable. In
Senior Secondary School class 3 (SS3), I eventually became the Senior
You too can leave a legacy. According to Joan Moran, here are some tips for leaving a great legacy:
Reflect and decide what’s important in your life.
Support the people and causes important to you.
Pursue your passions because they are infectious.
Share your blessings with others.
Be a mentor to others.
At LEAD Resources, we provide mentorship and consultancy through multiple programmes such as Career Pathways, Digital Economy Emerging Manager’s Programme, Mainstream Successor Generation, etc. Regardless of your age band, financial capacity and caste, we have a programme tailored to making you a better person and leaving a lasting legacy. If interested, contact us here.
Edobor Francis is an Associate Solutions Architect of Lead Resources. He is a graduate of Accounting. He is also a Sports Enthusiast, so when he’s not working, you can find him on a football pitch.
Almost everyone has been hurt at some point by
the discovery of a secret, a distorted truth, a lie, and/or something that
should have been talked about openly. Dishonesty hurts because it undermines
relationships, breaks trust and destroys intimacy. Instead of feeling secure in
the fact that you know the other person and are known by them in turn, you have
doubts about them and no longer feel safe in the relationship.
Honesty is a facet of moral character that connotes positive and virtuous attributes such as integrity, truthfulness, straightforwardness, as well as the absence of lying, cheating, stealing, etc. Honesty also involves being trustworthy, loyal, fair, and sincere. Honesty is a choice; it is an acquired trait.
WHY CHOOSE HONESTY?
Being honest isn’t always easy, otherwise, we would all be honest. However, here are five main reasons why honesty is important:
Honesty is the foundation for lasting relationships in any context whether with family members, friends or romantic interests. Honesty is the voice of love that builds trust. Without it, even “I love you” becomes a lie in itself and there’s no real security in relationships.
People can’t read your mind. Being honest doesn’t just mean telling factual information but also the way you feel. If you were hurt by something someone did, he or she may not realize it until you are honest with him or her about how it affected you. If you hide the way you feel instead, you disempower the other person from doing something about the problem and refuse the relationship the opportunity to grow. He or she may also feel hurt if he or she realizes you were upset with them but said nothing, or if he or she knows you’re not being honest with them about the way you feel. This could fester and damage the relationship. On the other hand, being honest about your feelings can bring healing, solve a problem, renew hope and foster good communication.
When people don’t know the truth, they try to guess the truth. That is, not being honest about something makes people try to figure out what you’re not saying, or what the truth is. This breeds gossip which can foster lies that others mistake as truth. Finally, this causes many more people to feel hurt and betrayed when the truth is revealed, all of which could have been avoided if honesty was shown in the first instance.
People are usually more hurt by the concealment of the truth than the truth itself. Some people lie because they’re afraid that the truth will get them in trouble or cause another pain, but more often than not, while the truth may be painful, it is usually less painful when delivered honestly than when it is wrapped in deception. Holding back or lying to cover up only causes people to feel betrayed and hurt, and to question why you weren’t honest with them in the first place.
Being honest improves relationships and saves us from having to live as liars. A lie rarely stops at one; one is usually needed to cover another, and this continues until it spirals out of control. It becomes complicated for the one who started the lie and confusing for the one(s) being lied to. On the other hand, being honest about difficult situations may be uncomfortable at first, but if worked through, relationships are strengthened, trust is built and love is deepened.
Although the words, “I’m sorry,” can ameliorate certain ugly situations, they can’t heal rifts or set things back to order before they went to hell. If someone finds out that you have lied to them, they may never fully trust you again, never. Even if you spend the rest of your life being a paragon of honesty and integrity, the person you lied to may always wonder if you’re being dishonest on some level. You may be sincere to your very marrow, but they may never have faith in you again…
Can you live with that?
Folakemi Oyeyemi is an Associate Solutions Architect at Lead Resources, a strategic human capital development social enterprise that helps organizations become the best they can be using world-class tools and practices. She is a Mathematician and is also passionate about entrepreneurship.
I have discovered that most of the challenges people face stem from a lack of control of their finances. Apparently, many people have a distorted view of the place and the value of money. While some overestimate money, others underestimate money such that they do not give thought to how much comes in, how much goes out and where it goes to. This nonchalant attitude has run so many households into financial crises.
In this article, I am going to share
with you why savings is important as well as some strategies you can use to
save a sizable amount by December 2021. First, let’s look at some
statistics that show that the lack of savings is a major problem in the world
1. 42% of the American workforce live
from paycheck to paycheck (including 25% of those earning more than $100,000
2. 29% of the American workforce have
less than $1,000 in savings. Half have less than one month’s income saved.
3. The personal savings rate in 2014 was
4.4%. This means that out of every $1,000 earned, an average American spent all
4. Thanks to factors like high student
loans and skyrocketing rent prices, millennials in America have a savings rate
of negative 2%.
5. Approximately 10 million households
in America have no bank account whatsoever.
6. 52% of Americans can’t cover a $400
unforeseen expense without borrowing or selling something.
7. Only 17% of the population have an emergency fund that can last three to five months.
8. Finally, 36% of Americans are not
saving at all for retirement.
Although the statistics apply to
America, I believe the situation is not different in Nigeria and other
developing countries. The statistics give you an idea of the poor level of
savings in the world today. Unless we educate ourselves about the need to save
and budget, nothing will change. This is why I write this article: To help you
understand where you lost it, pick yourself up and get ready to take charge of
your finances in 2021.
WHY YOU LOST CONTROL OF YOUR FINANCES
Before I divulge some strategies to take control of your finances in 2021 and beyond, let’s examine what went wrong in 2020 – why the New Year Resolutions you made on 1st January 2020 fell through after the first 2 months! We are taking stock of your financial life in the past year to ensure you don’t repeat the mistakes made anymore.
Lack of financial discipline in the
way you manage your money is the major reason your finances went haywire. It doesn’t
matter that you intended to save a certain amount every month. What really
matters is that you have the discipline to “work out your intention” by
creating a plan and sticking to it. That said, here are the specific reasons
you lost control of your finances in 2020.
1. You Didn’t Have a Budget:
In my next article, you will learn
in-depth how not creating a “written budget” for your finances literally cost
you a lot of money in 2020. To achieve financial discipline, a budget is
Perhaps, you have negative thoughts
about budgeting. You see it as a self-imposed constraint and as such, you
detest it. You are not alone; I was there too until I realized what harm I was
causing myself! The truth is this: If things must change, you have to DUMP that
mindset. You must understand the purpose of a budget. It is created not to
prevent you from spending money, but to ensure you have money for what is most
important to you. Without it, you will spend money on impulse. So, you need to
be convinced to make a budget for yourself as we get into the new year.
2. You Failed to Stick to Your Budget:
The decision to take control of your
finances by having a budget is preliminary. Following up on it is where many
people give up. Perhaps, you were disciplined enough to sit down and draft a
budget for yourself. But, somewhere along the line, you ditched it for your old
habit of financial uncertainty. Why so? Here are some reasons:
· You Didn’t Have A Concrete Financial
Goal for Your Budget: Having a budget without a financial
goal is like having a map without a destination in mind.
· You Got Distracted from Your Goal: You couldn’t contain the temporary
pains of delayed gratification.
· You Didn’t Have an Accountability
Partner: Many a time, all you need to stick
to a new habit is to have someone you are accountable to like a spouse,
reliable friend or coach.
3. You Spent a Lot on Liabilities:
According to my Rich Dad mentor, a liability is anything that takes money out of your pocket. Most of the things you were happy and eager to buy actually took money from you. In the long haul, you discovered that you had very little money left for the things that are important to you and financial hardship set in.
WHAT IS SAVINGS?
The Business Dictionary defines
savings as “The portion of
disposable income not spent on consumption of consumer goods but accumulated or
invested directly in capital equipment or in paying off a home mortgage.”
To me, savings is income not spent or
deferred consumption. It is not necessarily the absence of spending, rather, it
is the intentional act of setting money aside for a particular goal or purpose.
Any money that is not used for immediate consumption but preserved in a deposit
account for future use can be referred to as savings.
Accumulating money for future use and
delaying impulse buying can help you to determine whether what you want to
spend on is a need or a waste of money. If you do not save your money and your
expenses exceed your income, you can be said to be “living from paycheck to
WHERE DO YOU SAVE YOUR MONEY?
There are various ways of saving
money. Some people make use of a jar, piggy bank or envelope system when
dealing with hard cash. This is okay for short-term saving. However, long-term
savers need a safer method of keeping money, which is why it is wiser for them
to use a depository institution like a bank or cooperative.
In banks, there are different kinds
of account in which you can save, e.g.:
1. Savings Account
2. Current Account
3. Certificate of Deposit
4. Money Market Deposit Account
These accounts offer varying interest
rates based on certain terms and conditions. You need to educate yourself on
their pros and cons to make an informed choice.
HOW MUCH MONEY SHOULD YOU SAVE?
How much you should save depends on
your financial goals. To be considered “financially secure,” it is recommended
that an individual or family should save at least 6 months’ worth of expenses.
For example, if your household incurs a monthly expense of N50,000, you are
expected to have a balance of at least N300,000 as savings to be considered
“financially secure.” To reach this amount, it is recommended that you save
between 10 – 20% of your net income until that amount is reached.
WHY YOU SHOULD SAVE MONEY
Your savings is money which you set
aside for a specific purpose. It takes discipline and sacrifice to save. Now,
it is tough to develop a saving habit without understanding why you should put
in the effort in the first place. Here are some reasons to save instead of
1. Save for Freedom:
If for no other reason, save money
because it gives freedom – the state of knowing that you have cash reserves to
use whenever and however rather than feeling stuck in financial problems
because you await the next paycheck.
2. Save for Financial Security:
Financial Security is only possible
when you have enough money saved to cover your emergencies and support your
future financial goals.
3. Save for Annual Expenses:
There are certain (household)
expenses that are far beyond your budget. They require that you save for them.
4. Save for Retirement:
For government workers, retirement
money is automatically deducted from their gross income alongside taxes so that
they never waste it. However, for entrepreneurs and workers in the private
sector, they must put money aside every other month for their retirement.
5. Save for Emergencies:
We don’t pray for them, but
unexpected circumstances happen every now and then, ranging from health issues
to car and house repairs, etc. It is wise to save for rainy days.
6. Save for Education:
Some people save in order to further
7.Save for cars, homes, electronic
appliances and gadgets.
8.Save to get out of debt.
9. Save for Investment:
For those who want to grow their
wealth, this is the most pertinent reason for saving money.
Saving is important to the economic
progress of any country as well as wealth creation for any individual. There is
always an increase in productive wealth when people are willing to abstain from
consuming their entire income. This is consummated when these savings are
invested in productive ventures in order to earn more money.
HOW TO SAVE MONEY
Usually, people save by subtracting
their current expenditures from their income and keeping the remainder. The
problem with this method is that many a time, after subtracting expenditures,
very little or nothing is left for savings.
Therefore, the RECOMMENDED method of
saving is by Paying Yourself
First. What this means is
that you decide beforehand what percentage of your income will go into your
savings account, deduct that percentage FIRST whenever you receive your
paycheck, then live off the remainder. Although it takes greater financial
discipline to tow this path, this method works, every time.
HOW TO DEVELOP A CONSISTENT SAVING
Once you have made the decision to
save, the first challenge you will face is the struggle to keep the ball
rolling. Without a clear goal and a concrete plan, it is easy to give up on
your Savings Masterplan. When trying to save, it is important to take on the
challenge as you would when trying to develop a new habit. This new, consistent
saving habit is called Financial
Discipline. To develop this
habit, here are the steps to take:
1. Be Angry at Your Current Financial
Until you get mad and express
dissatisfaction with where you are today, you will not have the willpower to do
anything meaningful. You cannot solve a problem with the same mindset used to
create it. Don’t just wish to save. Get your emotions involved by being so mad
about your finances that you want to do something about it.
2. Increase Your Financial Intelligence:
After you realize what a financial
mess you are in, the next step is to invest in financial education and learn
how money really works. Visit blogs, read articles and take courses on Personal
Finance. Depending on your situation and schedule, you may employ the services
of a financial coach to guide you.
3. Make a Budget:
A written budget is a plan that shows
where your money comes from and where it goes to. It gives you a sense of
direction and makes the habit of saving easier to adopt. Experts recommend that
you allocate, at least, 20% of your income to savings in your budget. You may allocate
a greater percentage if you want. However, if 20% seems like a hurdle, feel
free to start with a smaller percentage and grow from there. Savings is a habit
that can be cultivated by taking baby steps.
4. Pay Yourself First:
You may automate your savings (using
either a bank standing order or FinTech platform like PiggyVest). Hence, you will save without even
thinking about it. Remember, your savings should be your first major
expenditure after receiving your paycheck.
5. Be Mindful of Your Spending:
Before you buy anything, ask
yourself, “Do I need this? Is there a cheaper alternative? Can I do without it
altogether? Am I just buying this to feel good?”
6. Reward Yourself Periodically:
Find creative ways to celebrate when
you cross certain milestones in your Savings Masterplan. It trains your brain
to remember that good things come with hard work.
Savings, like every other endeavour
or resolution, needs a masterplan, a systematic approach, and focused
commitment for it to work for you.
Given the information shared in this
article, I believe that you are well-armed with all you need to take your
finances seriously in 2021. If you need help creating a customized savings and
budget masterplan for the next year, I advise you to enroll for my 2021 Savings and Budget
Masterplan Accountability Program which lasts for 30 days. I will
guide you through such that you will be confident enough to create a Savings
Masterplan for next year. By the time you complete the program in early
January, you will have a personal finance blueprint that can guide you
throughout the year. Enroll now!
If you cannot afford the program,
there is a limited offer for a discount on my book, “How to Save Like A PRO: 30 Radical Money Saving
Hacks That Can Help You Hit Your Financial Goals.” You can get it here.
N/B: This article is an excerpt from
a webinar which was first published on my Facebook community – Financial Intelligence Forum (FiFo). Join the community to access my past and future
Obot Essiet Jr. is an Associate
Solutions Architect at LEAD Resources, a Financial Intelligence (FINTEL) Coach
and a Co-founder/COO of Naiyuan Mart, a Chinese-Nigerian procurement and
manufacturing company. He runs a blogand a community on Financial Intelligence. He is
passionate about helping people journey towards financial freedom through
practical financial literacy solutions. Obot Essiet Jr. loves writing,
gardening, watching adventurous movies, cycling and playing chess.
In his book, “The Fortune at the Bottom of the Pyramid,” C. K. Prahalad asserted: “Private Sector could have the greatest impact through creating profitable businesses serving the 5 billion people who represent the “invisible, unserved market.”
thing that could happen to a people is not rejection or death; it is to be
INVISIBLE, to be unnoticed. People aren’t just markets. They have dignity,
choices, fears and needs that must be served. Sometimes, people are not really
invisible; the onlookers are just blind. A society with few entrepreneurs is
one with many blind citizens. Blind citizens cannot identify and explore
resources, potentials and abundance hence, they perpetuate poverty.
the testament that the dignity of a person has been threatened and his needs have
been disregarded by self and others. It is the certificate of servitude issued
by naïve societies and accepted by clueless citizens who have learned, accepted
and endorsed self-helplessness. Poverty is the limit on alternatives. Abundance
is the limit breaker. Abundance increases the quality of life; the quality of
life improves with access; access is the inclusion of the excluded.
There are deep-seated motives that pass the test of reason and justify the need for entrepreneurship, enterprise, innovation and commerce. They, by far, outweigh the obvious need for survival and exchange. Citizens must organise, learn and self-educate to spot, earn and satisfy their dignity if ever they will disembark from the voyage of despondency. People of all races, cultures and tribes are beings of needs – needs craving attention. Entrepreneurs must be enabled to arise and arise to these cravings.
Sector can institutionalize an enabling environment and push for equal
opportunities thereby supplementing the deficiency of bad governance. The Private
Sector can democratize access to ease, wealth and bliss. In an organised mode, the
Private Sector can guarantee access to credit and uphold the currency of the Nation.
This is required to engage the invisible economy and undo its chain of consequences.
Elkanah Oluyori is a Digital Economy and Innovation Evangelist who is passionate about nation-building and community organizing. He has authored several relevant publications to this effect. Currently, Elkanah is an Associate Solutions Architect at Lead Resources, where he delivers Management and Development Consultancy to citizens, enterprises and the government. Owing to his vast experience in working with local and international development agencies, he leads Strategic Partnership at Reformers of Africa and coordinates West African Network on Peacebuilding (WANEP), FCT.
In this article, we shall discuss how self-management correlates with organizational growth.
According to Head & Heart
(TransformEd & ANet), Self-management, also known as “Self-control” or
“Self-regulation,” is the ability to regulate one’s emotions, thoughts and
behaviours effectively in different situations. This includes setting and
working toward personal and organizational goals, managing stress, delaying
gratification, and motivating oneself.
It is important for organizations
to pay keen attention to improving the self-management skills of their employees.
This is because researches show that employees’ work input and effectiveness
(which is in resonance with organizational growth) is often affected by their
physical and mental wellness.
Self-management skills allow you
to improve your workplace performance, maximize your productivity and achieve your
professional goals. Hence, improving your self-management
skills can help you increase your employability and manage your career path
Examples of self-management skills include:
HOW TO IMPROVE SELF-MANAGEMENT SKILLS
There is a need to focus on ways
you can direct, evaluate and improve on your daily tasks. Here are a few ways to
improve your self-management skills:
Assess Your Strengths: Determine what professional tasks you’re best at and focus on ways to maximize your abilities in these areas.
Prioritize Your Responsibilities: Clearly define which responsibilities are most important, focus on them and avoid distractions.
Develop Organizational Systems: Find effective methods to help you streamline your daily activities and manage your time. Also, keep important items in easy-to-find places.
Create Strict Deadlines: Set deadlines for each stage of a project and maintain your schedule. Be accountable and sacrifice the hours needed to reach your self-designated checkpoints.
Perform One Task at a Time: Focus your time, energy and abilities on a single task at a given moment. Complete one task before moving on to another for efficiency.
Practise Patience: Maintain a sense of calm to help you think clearly and objectively. Be considerate of others, and try to empathize with their needs and experiences.
Take Care of Your Health and Wellness: Have a healthy diet, exercise regularly, maintain good personal hygiene and actively focus on lowering your stress levels.
Evaluate Your Progress: Objectively assess the progress you’ve made toward your goals by setting checkpoints along the way and tracking your accomplishments.
With reference to the paragraphs above, the importance of strategic self-management as proportionate to organizational growth cannot be overemphasized. As individuals, we must strive towards personal development as it makes us better in our personal lives and at our workplaces. No doubt, stable employees make a stable organization.
For more insights on strategic self-management, subscribe for Lead Resources’ Personal Talent Management course here.