The money blog says...

Capitalism is sooo last century.

UpNaira updates on money, career, business, development, and the economy.

The site formerly known as BusinessDayOnline

is now at BusinessDayNIGERIA.com 

By whatever name, it's the best paper on the market (especially since I can get it at my university job for just 50 bucks.)

Front page of the newspaper

Teaching Analysis

The quality of journalism has risen in Nigeria, yet, financial reporting receives a poor grade from me.

Because they do not understand some mathematical concepts, journalists confuse increase with decrease, gain with loss, speed with acceleration, and so forth.

I should like to teach a 10-hour course for financial analysts to clear these things up. As you can imagine, when an article opens with such errors, I run far away from it :( Yet, it's not so difficult when you know how.

Maybe someone else will teach the class? Lagos Business School? Uddin? Bismarck-Rewane? Totally needed.

Some Like It Hot...

Pease porridge hot, pease porridge cold,
Pease porridge in the pot nine days old
Some like it hot, some like it cold
Some like it in the pot, nine days old

Though I had learnt this nursery rhyme way back in my elementary days, little did I appreciate its depth and reality. A recent happening left me with a lesson that brought back strongly the essence of the rhyme.

I’ve already shared this personally with so many but more assuredly, I will hold on dearly to this in my career as an Entrepreneur. Truth is, long before I took off on this journey, I’d learnt that businesses must focus on identifying and meeting needs. It’s about providing solutions to certain issues of the clients or customers. However, I have discovered even another dimension to meeting a need.

Couture is my first line of business at the moment. I’ve not kicked off fully yet since I’m still putting a few things in place and rounding off at the fashion school. All the same, after over 10 weeks we have mastered certain basics of dress making and started making some wears. I decided on starting with complimentary jobs, a good opportunity to introduce myself in the market place. I took this one job from a good friend, and went ahead to execute with what I look back in retrospect as a little understanding of her preferences. The job came out well; truthfully many saw it and commended my efforts. I put in a lot of hours to add creativity here and there. It was one of my first jobs for heaven’s sake; I couldn’t afford to make it simple. Lo and behold, I took it for fitting and despite encouragements that I’d done well on a number of notes, she said – “the style is not me”. And then it dawned on me, nothing satisfies a customer like the exact blueprint of their expectations.

This other dimension to meeting a need is in ensuring one knows the details in full of what the customer needs and wants. It’s about reading in between the lines when they are giving their briefs. It’s about asking; asking and asking….just know that client. It goes beyond the efforts you put in, the time you’ve sacrificed, the funds you’ve expended, all would be like nothing if the other party involved isn’t fully satisfied. So now, more than anything, I’m asking and learning about my client.

While sharing this experience with some loved ones, another perspective surfaced. The same lesson applies in the other relationships like in families, and with friends. We tend to give what we feel would be appreciated because that is probably what we may want if we were in the shoes. So a woman is giving her husband a big card that sings because she really appreciates it, but he doesn’t even like cards in the first place.

We would do our relationships and businesses good if we go this extra mile to research, discover, learn what exactly we must do, how we must do, when we need to do while providing solutions. Honestly, those experiences of spot-on-execution never leave us; they enhance relationships, boost our morale from positive feedback and increase our network base through referrals.

Leave your own personal preferences and know the category your customer, client, loved one belongs…for in actual fact, some like it hot, some like it cold, some like it old and some don’t even like it.

Think Global, Be Global

It’s another year end, just less than 2 weeks to a new one. And this is wishing everyone great compliments of the season. I know it’s been an eventful year for all with its ups and downs, the high times and the low, but I know more assuredly that it has endowed us all with lessons and discoveries like no other year. Let me use this opportunity to ask any who is willing to share any of theirs to please send me a mail (bukolaogunfayo@gmail.com) and we can have others read and keep to guide and to encourage.

It is a good time in the year to reflect, to review goals, especially in anticipation of other opportunities in the New Year. It is an appropriate time to be grateful too, thankful to the One beyond man who has kept and preserved. I’m sure if we think well, we’ll have a number of things to give thanks for, starting with the gift of life.

For me, 2010 has been quite eventful. For instance, I was able to share regularly on FOOTSTEPS (this means a lot to me), I took a bow to paid employment, I got certified & inducted as an HR Professional and on another extreme, took on a skill in fashion. I can imagine what awaits me in 2011. However, I’m going to take my plans from a different angle this time around, which I believe some would need as well.

Sometime in November, I attended a conference in Lagos. I am very keen on personal development; in fact, I do plan to contribute significantly to the Education Sector sometime in the nearest future, which is what drove me to sit at the Syndicate session on Education. Amongst other things shared, one thing I took away from this meeting was a comment by the Speaker – Mrs. Susan Oyemade, “…you have to be a global teacher, you have to be a global pupil, you have to be a global housewife...” In other words, whatever you have decided to pursue, you need to do it with the world at large in mind, you need to think beyond the local environment, and you need to set a global standard (“world-class", as used in many circles) for yourself.

For a teacher, that’s an easy one. The delivery styles and the contents of the course material for instance need to be worked on, but one would wonder, how can a housewife be global? Well, what recipes is she working on in her food lab (kitchen), the same old ones with the same styles and the same ingredients? What looks does she have on the few times she’s out of the house for a school function or an outing with her husband? While one ponders on this, one has to agree there is room for everyone to think global and to be global.

As we come to another season where we strategize for another year of our lives, we need to ask ourselves what our peers on the global scene are doing better. What are they using to make their work different that we can acquire; what skill have they gained that we can learn, who have they connected with to help them be all they are now, that we need to consider networking with as well (for this we could get their peers in our vicinity). Whichever way, something new and/or something different needs to be worked into our norm to position us globally.

A few, may just actually be ahead of their peers globally already. In Performance Management we refer to them as operating on the Exceed Expectation rating. These ones need to up the stakes, look at their superiors, whose standard they now need to work towards.

I don’t know what we all may have in mind for 2011, but as I challenge myself, I leave this challenge with you, position yourself to become GLOBAL.