The Empretec program is in Kenya. Here’s what you need to know
By now, it is no secret that the prestigious program, Empretec is now in Kenya. This came about after an intense week of the United Nations Conference on Trade and Development (UNCTAD) in Nairobi last month. After the formalities, it was announced that the Kenyan National Chamber of Commerce and Industry would be partnering with UNCTAD on this program. Mary Muthoni is the chairperson of the Women In Business committee at the Kenya National Chamber of Commerce. Empretec will mean a lot to Kenyan women as they get to benefit from the perks that come with being a part of the program. Some of these benefits are already being enjoyed by women in other African countries, like Zimbabwe. This will bring many benefits too Kenyan Motherland Moguls and we share some of them below. Capacity building Empretec offers a rich training program with a pool of 64 international trainers and 160 trained local trainers. These trainers are all about impacting personal development and business skills to participants who include women from the formal, informal and the employment sectors. Their curriculum is also tailored to international standards. Creating of life bonds amongst Empretec trainees Once a part of Empretec, you’re in it for life. The program follows up on its participants even after training as part of a lifelong relationship. Empretec sponsors follow up to see how the lessons learnt impacts the businesses of participants. It gets even better because you can always find a shoulder to lean on in the Empretec family. Networking and mentorship Ladies love conversations and it’s never a dull moment you can open up and create bonds. Empretec takes in women of all ages and orientation. So hanging out with other women in the program will always mean something new will be learnt. Also, Empretec has trained a large pool of women over the years since its establishment in 1988. Empretec’s presence in 37 countries means that when you join this community, you get to build a network with women from not only your home country. You’re part of a network of women from the rest of the thirty-six countries including Ethiopia, Ghana, Jordan, Botswana, Argentina, and Algeria. Smart girls know that their network is their net worth. Here you’ll need to be ready to establish contact with people from all walks of life. Be it the Motherland Moguls who have already established their businesses and are looking to offer seed funding for great business ideas or intelligent young women with brilliant ideas and that are looking for persons with expertise to partner with. Empretec is a well that keeps giving but never runs dry. Here, you get everything you need and all that’s required of you is to make it work. You’ll get to see that women from various developing countries face the same difficulties as you. And that the only way to emancipation is in finding long-term solutions for entrepreneurs. Locally certified trainers The availability of local trainers certified by the UN body means that members have access to the very best. With Empretec, you can have access to trainers with the know-how to get you through business challenges. This will help you confidently experiment with new ways of doing business . Obviously, the business field can be tricky, filled with uncertainties and other stress. You will need to have your hand held by the right people to navigate through these scenes and come out successful. Identifies and enhances personal opportunities Empretec’s training is personalized and depends on what stage you’re at in the business world. There will be people looking to venture into business for the first time and those with great business ideas needing guidance on breaking even. In addition, there are others already in the business scene and seeking to expand their visibility. Empretec will be a great space for Kenyan women to get answers and to learn how they can use their talent to make money . Eradication of poverty and social problems. Empretec encourages women to be social entrepreneurs. This means establishing businesses that seek to solve social, cultural and environmental problems. The purpose of these businesses is not just to make money but to also leave a positive mark on the society. Empretec encourages entrepreneurs to work towards achieving sustainable development goals even as they make their money. Awards and recognition Empretec honors her alumni at the Women in Business Awards. A Vietnamese lady, Tran Thi Viet won gold at this year’s awards for her company, Viet Trang Handicraft. Her company makes basket-woven goods from banana leaves, water hyacinth, corn leaves and bamboo. The company had a humble beginning but now exports goods worth $1000 million to the European Union. Viet Trang Handicraft went on to create employment for 250 weavers. This is the spirit of Empretec, to solve societal problems in our countries and at the same time make money for the entrepreneur. In summary, Empretec is the place to be for any woman seeking to make it in the business arena. The opportunities here are immense and ladies up for first dibs will definitely have more than enough to carry home. With all this said, it’s time for Motherland Moguls in Kenya to grab this opportunity!
Christine Kanana Mukira: Passion, the secret ingredient for a yogurt-making startup
Christine Kanana Mukira is a young entrepreneur with an academic background in law, business administration, and office management. Kanana quit her NGO job to start a yogurt-making business in Nairobi, Kenya. Maureen Murori, our SLA contributor paid a visit to an enthusiastic Kanana who shared her dream of having a one-stop shop for fresh, natural, products straight from the farm to her clients’ kitchens. It’s early Saturday morning. After beating the Nairobi traffic, I head to meet a lady whose yogurt business is gaining roots. She had promised to let me in on what keeps her going even when business goes south. Christine Kanana Mukira meets me at the entrance to an estate in Ngara. It is situated on the outskirts of Nairobi central business district. We sit outside her shop, which she co-owns with another business owner. While Kanana’s specialty is the production of natural yogurt, her friend makes fresh fruit juice. “I don’t think I’m an entrepreneur,” Kanana worriedly tells me as she settles into a chair opposite mine. After pleasantries and small talk to break the ice, she relaxes and takes me through her entrepreneurial journey. Kanana had always had an entrepreneurial spirit, way before her current yogurt business. Back in 2013, she used to own a poultry business but had to leave Nairobi when she got a job with an NGO. She worked in the social development world and enjoyed helping community members. But this was not to be for long, she wanted something different. “I needed a new challenge”, Kanana told me. After three years, she had had enough of being an employee. She quit and went back into running her own business. This time, it was yogurt making. Why yogurt? “After some research, I was concerned about the ingredients used in making yogurt, things easily found in supermarkets like milk powder, lots of sugars and flavours,” Kanana says. “I wanted to create a product that used purely natural milk and natural sugars.” According to Kanana, her yogurt is made of pure milk, natural vanilla plant, strawberries, and natural sugars. Her six-month-old business which started with just three litres of milk has since grown to over forty liters a week, and demand is still growing. ”To get to forty liters a week was not easy”, Kanana admits. She said were it not for her passion, she would have given up a long time ago. When she first started out, she was fortunate to not only find a reliable and affordable fresh milk vendor but also customers who believed in her new product. Without prior knowledge or skills, Kanana says she had to practically do everything from sourcing for milk, collection, producing yogurt, and even sales. However, she learned quickly how to get some of the workloads off her shoulders. With the increasing yogurt demands, she was able to convince her vendor to deliver milk at her shop once a week, or as demand increased. The challenges so far No sooner had she tackled the delivery challenge than another popped up. She realized that sometimes, customers did not drink as much yogurt as she had produced. Because she didn’t use preservatives, by the end of a week, she had to give out yogurt for free before it could go bad. The weather can also be a challenge for her business. “When it is cold, as it is now, not many customers drink yogurt. They prefer hot beverages,” Kanana said. She has since reduced the number of litres she makes per week especially during the rainy season in Nairobi. Is she seeking to become wealthy from the business? Although she acknowledges that capital can be a challenge for some entrepreneurs, she quips “a business idea is capital in itself.” “Wealth is the ultimate goal for every entrepreneur,” Kanana states, “but passion is the driving force, and love for the business makes it even easier and more enjoyable!” She cautions entrepreneurs not to be in haste to make profit from a startup. Business is a risk and stability usually begins between the sixth month and the first year, and for some, even longer. Eventually, only the passionate and patient remain strong enough to watch their business take shape. Future plans Kanana wants to expand to the sale of more natural products so she can encourage people to adopt healthy lifestyles. Since her business is located within an estate, she hopes to be the source of all natural products for homes within the locality. “My dream is to have a one-stop shop where I can sell fresh, natural, products straight from the farm to my client’s kitchen,” says the enthusiastic entrepreneur whose inspiration comes from her entrepreneurial parents. Kanana believes that natural products will help fight some of the nutrition-related chronic diseases such as obesity, diabetes, among others. Kanana says that customers often ask for fresh milk, and she is thinking of diversifying into that direction. Although many supermarkets have introduced milk dispensers, Kanana says this is not a challenge for her. After all, the stores specialize in skimmed milk, while she will go for whole milk which she says has more nutritional values for children, pregnant women and the elderly. Advice for other entrepreneurs Kanana urges upcoming entrepreneurs to ensure the right location for their businesses. This way, customers can easily access your product. And also, you’d enjoy proximity to raw materials needed for production. As for friends, the young entrepreneur says, “in business, you will lose or gain friends. Some will support you, and others will not even want to be associated with you.” How it all ended One good thing about interviewing entrepreneurs is that you get to taste their products or to take souvenirs home. I was in luck today. I was served some natural strawberry yogurt. It was thick, smooth, fruity and delicious! Tell us what amazing entrepreneurial things women are doing in your communities here.
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,
The why and how to being an inspirational leader
Let me start by telling you about Julia. After eight years of operations and more than 25 members of staff, Julia was frustrated and exasperation. She deemed that the business was just not viable and decided it was finally time to shut things down. Dwindling revenues and consistently spiraling costs were largely to blame. But it was all supposed to have been so easy. After graduating from University with a LLB, Julia decided that, having studied Law to please her parents, she could now start living her own dream. Julia got qualified and set up her own Montessori kindergarten. Soon enough through word of mouth and referrals, pupils came in. But year in and year out, pupil numbers were not growing as Julia had expected. Teachers too were not as inspired and motivated in their work as she needed them to be. Julia herself needed inspiration. Now, imagine a world where people wake up inspired to go to work. A world where your employees genuinely look forward to the start of business day. Where they look forward to interacting with their colleagues and leader daily. In this world, your employees are constantly and authentically excited about interacting with clients. They see themselves as relevant and are ready to offer premium solutions to the needs of clients with a listening ear and attentive heart. Imagine that. Wouldn’t it be really amazing? In my point of view, this would be seriously valuable. I think we should all seek to make our businesses and workplaces like that imagined one above. I am convinced that one of the ways you can do that is to lead with purpose and direction. You need to know your why of your business, live the why of your business in your operations, and inspire with the why of your business. The Why Let’s start with ‘why’. Why exactly are you in business? What is so distinctive about your business and your organization that it would potentially draw clients and employees to your door step? There are some organizations that people just fantasize working with. There are others that are the preferred service providers of many. There is a reason for this both employee and client deem these organisations to be especial service providers. They are seen as having a unique way of doing and serving. There is something distinctive about their brand and therefore their business. This isn’t something left to chance. The most sought after brands are relentless in their efforts to be responsive to client and employee needs and wants. They clearly understand why they are in business and who they are in business to serve. They are also equally obsessive about serving clientele effectively and efficiently according to their brand values, and doing so consistently and constantly. The How I wonder if Julia, the head of the school above, had thought deeply about the ‘why’ of her business. I also wonder if she had thought deeply about how she would have to operate her business to satisfy that why. Julia probably hadn’t thought deeply about what it takes to create the kind of school that she wanted. This list is lenghty, from organizational values and culture, to parent/school engagement, to away days for teachers, to school administrative policies, to continuous learning for herself and her teachers so that they become authorities in their field, to developing an executive presence for herself. In any business, there are vital peripherals which we must pay attention to. These are beyond the product and service that you sell. The decisive business leader ensures that their business operates at a place of inspired joint value for all its stakeholders. They ensure that their organization is a continuously learning, improving and responding. They ensure that their business is continually enhancing their capabilities, services and products -and inspiring and motivating staff as it does so . And that takes courage It takes courage to inspire, when you inspire you will suggest innovative ways of doing and thinking for the better. In presenting new ways of thinking and of doing, the business leader challenges the status quo. That is why leading effectively often requires courage. Most people will need tremendous inspiration to offer their best and effect an otherwise dormant potential. It will take courageous leadership to draw out that potential. It was TS Eliot who said that only those who will risk going too far can possibly find out how far they can go. The privilege and responsibility of business leadership is in taking calculated risks, within and in spite of your resource constraints, to see how you can more effectively serve and respond to your clients and your team’s needs. That takes courage. But courage is ineffectual without purpose and direction. This is why in business we must know our ‘why’, and gather the courage to demonstrate that why through our how.
How to start a media company with no money and no clients
If you’re ready to take the leap and start your own media and communications company, there’s no reason not to! Sometimes life requires you to take just jump and make your idea a reality. There must be some method to the madness though especially when you’re on a budget and have no clients upfront. We got some insider tips from Anne Mazimhaka, co-founder and creative director of Illume Creative Studio, a communications agency based in Kigali, Rwanda. Launch online There’s no need to launch your company with a cocktail party, bottles of champagne and a fancy guest list filled with big names that likely won’t show up. Go the easy way and start with a simple but good looking website. Like with Squarespace which offers solutions for easy websites that will be eye-catching enough to your future clients. Your website should clearly list the services you offer. Remember to keep things clear and direct, let people know what you’re offering from the word go. As a communications agency, you can start out offering services such as content development, creative consultancy, editorial roles and social media strategies which you can offer from the comfort of your home. Your contact details should also be well displayed for when people need to reach you. Make full use of your network This is something that you should start on before you take that leap. Build a network through attending events and rubbing shoulders with the change-makers in the industry. Save their business cards and contact details for when you’re ready to launch your company. As your launch date approaches send a newsletter announcing it through a service like MailChimp. The key is the leverage the power of your network, and when contacting them do so strategically. Emails easily get deleted but people do not mind receiving an email announcing a company if they can see what’s in it for them. This is why you should include an offer in your initial newsletter, such as 20% off for first-time clients. This is a great opportunity to attract clients. Invest wisely You’ll want to ensure any little money you have is spent wisely. Get business cards and postcard sized pamphlets printed out. These should again advertise your brand and the services you offer. Once your business cards and pamphlets are ready, you should reach out to people who you would target as clients and leave those behind with them. This way you’re doing your advertising yourself. By the time you snag your first couple clients you’ve set the ball rolling. When people see the value in what you have to offer, they will come flooding in.
How to succeed as an event planner
So, you’ve set up your events planning company but have hit a few snags along the way. You thought everything was in order and progressing well and aren’t sure why you’re not as successful as you projected. Don’t panic yet. Shit happens, don’t let that stop you from achieving your dreams though we’ve got your back. Here are some tips that’ll help you towards becoming the badass events planner you’ve always wanted to be. Be good at managing The first step in managing starts with you. It’s very easy to feel like you have wasted a whole day doing nothing when you haven’t properly managed your time. Once you’ve mastered the ability to coordinate yourself and work efficiently, you’ll find that you’re achieving more. Next, look at your team. How are you coordinating them? Are roles clearly defined? Are deliverables clearly set so your team is doing what they are supposed to? If not, time to step up your game. You’re the leader here, guide your team and lead them to success. Be resourceful Resourceful here means being creative when facing any problems. As an events planner you will undoubtedly face random problems that can emerge during events. If the electricity doesn’t trip up, there’s a toddler throwing a tantrum while someone is trying to give a speech. You need to sit yourself down for a one-to-one. How effective are you at thinking on your feet and using your gifts to problem-solve? To win you must be able to remain calm while the world burns around you. When something doesn’t go your way, think quick and sort things out resourcefully. Be good at communicating This is linked to teamwork as your team is integral to your success. Make sure your team is clear on your ideas and your vision. When communicating with your team, be respectful to everyone regardless of their role. Speak the same way to your decorators as you will to the catering team. When anyone on your team offers suggestion, listen. Accept criticism when necessary and be open to their ideas. Your team should run like a well-oiled machine. Every single person has their part to play in running an event smoothly. Be best friends with your vendors As an events planner, the most important relationships you’ll have outside your team is with your vendors. Vendors come in different flavours, they are the ones that make your events run without a hitch. The caterers, the rental companies, the hotels, the music band…maintain a good relationship with them. Study your vendors, learn about them by conducting interviews (formal or informal). When you have an established relationship with them, you stand a better chance at getting the discounts you ask for. Once your vendors become your bffs you’ll be able to reap rewards. They may even refer clients to you. Be mindful of your clients There is no set formula to ensure that all your clients are happy and content. The first step to growing your niche of customers who will always use your services and refer you to others is to do right in whatever you do. Listen to what your clients want and uncover their hidden needs. Then when you are creating their events, add that unique touch that only you can bring. This will make you stand out and is another step to achieving the success you deserve. Be passionate Remember the passion that you had when you started out as an events planner? Don’t lose it. Keep that passion burning. It should be the fire that never goes out. Passion for what you do will get you through any rough patches that you may encounter. Passion will also make it easier to run your business day-to-day. When you need to crack your whip to get things done, it’s your passion that’ll drive you.
You’re now a Motherland Mogul, have you thought about safety?
A light bulb just came on and you’re already smiling at the money you’d be making from the business idea… You just slammed a pitch and you’re already practicing the speech you’ll be giving other young people on how you made it… You’ve launched your website and have snagged a client or two, business is looking promising… Your business is expanding, income is rolling in, your reputation is soaring, you’re making impact… You are now a known brand… Pause. Hold up. Wait a minute. Have you given any thought to safety on the job? Chances are you haven’t thought about the safety of both yourself and your employees. Yet, whatever stage you are on your entrepreneurship journey, it is important to consider the health and safety of everyone involved in your operation and invest in it. A safety management system (SMS) is a proactive and systematic process of safety. It involves developing a safety culture that ensures your organisation/business remains safe from loss of any kind. There are numerous benefits to incorporating a SMS in your startup. It reduces business costs and increases efficiency. With a SMS in place, you won’t have to worry about spending limited resources addressing the fallout of accidents and other incidents such injury, loss of goods, damage to business property, even death. Financing Banks and investors are more likely to invest in a business that is set up on a right foundation. No one wants to lose hard-earned money to accidents that could have been averted. Employee morale In business, word of mouth travels faster than any advertising. Employees do not want to leave a job worse than when they got into it, broken bones, injuries or ill-health. A safety system boosts their morale and lets them know that their employer is interested in their overall well-being. This morale of staff is inadvertently manifest in improved client relations and that is a plus to a business. Business confidence Big companies in construction, aviation and oil and gas seek credible businesses with a safety culture to work with. This singular investment in a safety culture could set you apart from other business owners Legal compliance And of course, using SMS means you would be complying with relevant laws in your country of operation. They say, train a woman and you train a nation. Here is to building safer businesses and workplaces as we become Motherland moguls.
Debunking the “Marketing is Advertising” myth
Advertising is not marketing. As a marketing professional I encounter clients who usually do not understand that although all advertising is marketing, not all marketing is advertising. Marketing is an all-encompassing practice, made up of various elements such as strategy, customer research, trend investigation, public relations, social media promotion, product design, pricing techniques, promotional campaign activities, distribution management, competitor research, innovation, concept and service design, content creation, copywriting, and so much more. All of these efforts need to be working together to build a successful product or service. Advertising on the other hand is really only one form of marketing but that which everyone actively notices. It is the promoting of brand awareness to a large target audience via mass media, such as television, print and radio. Let me try to simplify this Think of marketing as a box of crayons with different colors, while advertising is just one color in the entire box. To create a masterpiece that isn’t lackluster, you need to play around with the different colors in your box of crayon. I thought it was important to establish this because I encounter quite a lot of entrepreneurs and business owners who think that because they have a Facebook or IG page, they are ‘marketing’. While social media is a fantastic marketing tool, it is but one in the arsenal of tools that are available to you. Nonetheless, advertising works The big brands have proven this over and over again. They have also proven the fact that advertising needs the support of other marketing elements to deliver good results. So while you would be serenade by Power Oil sachet jingles on radio on your way to and from work (Advertising), you would also find that Power Oil sachet at almost every street corner (Optimized Distribution). More importantly, advertising alone would not solve all of your marketing problems. So for example, you can choose to invest your limited funds in a radio campaign or on Facebook sponsored posts but all of these efforts would yield little or no results if you do not have a product that solves a real consumer need. However, the process to dimensioning & understanding these needs is a marketing process called customer and market research (and definitely not advertising)! Another example is the lady who sells packaged food items (Say 5kg at ₦8000) and wants to increase her sales. She might not necessarily need to spend money trying to set up a billboard along the third mainland bridge. What she could do is launch smaller variations of her product (let’s say 2kg @₦4000) that students and other low income earners can afford. This would help her appeal to more people and broaden her market space. Am I making sense? The lesson today is single minded: Marketing is much bigger than advertising. And to be very honest, marketing is a tough concept to get your arms around but that is why I am here. To help you get the hang of it such that you would get actual returns on all investments (time, money and effort) made into this very vital aspect of your business.
The 4 minute guide to SME marketing
The average human’s attention span is… oh look, a notification on my cell phone! According to scientists, the age of smartphones has left humans with such a short attention span even a goldfish can hold a thought for longer. As such it is no longer surprising when people complain that a 1000 or 2000 words post/article is toooooooooo long. So I asked a couple of friends and acquaintances; “What’s the most amount of time you would be willing to spend to carefully read an article that piques your interest?” The answers varied between 2-7 minutes and at the end of the day I arrived at an average of well, 5 minutes! And this was one of the considerations that inspired “The 4 Minute Guide to SME Marketing” series. What I hope to do with this series is help start-ups and small/medium business owners navigate the rather murky waters of marketing. Because I understand the time constraints we all face as busy professionals and business owners, I plan to keep every article interesting, informative, and most importantly, concise. Pinky swear! I chose to do a series specifically on marketing because, to be honest, I absolutely love the profession and practice. I always tell people that marketing found me (a story for another day). After spending years in the advertising industry as a brand and marketing strategist and working on a number of brands across different industries, I’ve gained insights that I believe would be useful to small business owners. It can be difficult to access ready and affordable marketing consulting services so That said, I guess we can all agree that starting a business is exhilarating. Unfortunately, the “build it and they will come” theory doesn’t hold much weight anymore because while you might have a fantastic, the greatest thing since sliced-bread product, if people do not know about it, who you epp? The process of letting people know about your product or service is a deliberate one hence an entire academic and professional field called marketing. Again, unfortunately, a lot of startups and SMEs have a flawed mindset with respect to marketing (what it entails and what it can do for their businesses) and this is why most of them do not scale or eventually live up to their full potentials. I mean in today’s business field, battles are won or lost in the market arena and a good product/service alone would not sell itself. As such, marketing imperatives are no longer an option, but a MUST! You can choose to think about it this way. Your product or service started as an idea and we all know that ideas need momentum. LaunchSquad’s Jason Throckmorton said “you can have the best idea in the world but if you don’t couple that with a strategy to spread your story, your idea isn’t going to go very far.” I couldn’t agree more. Still in doubt? You can also choose to think about it this other way. As a start-up, as a new business, nobody knows you yet so you need to get people to care enough to try what you offer. And this is when marketing becomes a smart investment because it can help you legitimize your business, create excitement, engage potential clients/customers, encourage trials and repeat purchases and even inspire loyalty and advocacy. You see where I am going with this right? 😀 I’d conclude today’s post by saying SME marketing shouldn’t be a flimsy afterthought. Just as you have been very deliberate about creating a top notch product or service, you need to be equally deliberate in creating demand for that product or service. Until next week SLAyers! Cheers!
Seapei Mafoyane: Fill yourself up with hope, belief and pure audacity
Small business is seen by many in South Africa as the saving grace in the fight against unemployment and with the track record of small business success, measured interventions to bolster this sector receive a lot of attention. One such intervention is Shanduka Black Umbrellas (SBU), a business incubation programme in South Africa that is focused on supporting small black business on its path to achieve sustainability. SBU is arguably the top business incubator in South Africa, recognised for the solid interventions it is making to corporatize black businesses. 2015 was a watershed year for the incubator, as it celebrated six years in existence and won the Randall M. Whaley Incubator of the Year Award at the National Business Incubation Association in the United States. To top it all off, they appointed Ms. Seapei Mafoyane as the new Chief Executive Officer. Seapei is a bold woman who believes that South Africa needs sustained long-term impact interventions to make notable strides in small business development. She defines this as her mission in her role as CEO. SLA contributor Asanda spoke to her to understand how she sees the small business landscape in South Africa going forward and most importantly, the role SBU will play in the years ahead. Asanda: You have spent a significant amount of your professional career in strategy and financial services, how did you make your way to small business development in the not-for-profit space? I worked in strategy and the financial services in various capacities for my entire career and this was in line with my undergraduate degree in the sciences. I came into direct contact with the small business development area during my MBA studies at Wits Business School a few years ago. My research focused on an area that was not explored at the time, the challenges facing black female entrepreneurs in South Africa. It was during this time that I realised I had to be selfish and follow my heart. So you could say my dissertation led me to Shanduka Black Umbrellas. Everyone is talking about small business development and how it can be the saving grace for the current economic climate is South Africa, why do you think it is receiving so much attention? I think we have the buzz that we have now in South Africa because of the realisation of the dire needs in this country in terms of entrepreneurial activity and the economy as a whole. Sustained security of the black person is no longer in the employ of the white person. Black people can now dare to dream. The challenge is to ensure that it is not just a buzz but that we have a coordinated approach from the various stakeholders that will ensure that we start seeing the upside to it. What role has Shanduka Black Umbrellas played in the past to grow black business? Shanduka Group has played a key role in setting the stage for the face of black business in the country. They led the pack in the establishment of a black-owned investment holding company in S.A. and it was a natural progression to have a foundation that focuses on both small business development and education. What sets SBU apart is the clear focus that says, ‘we know we cannot be everything to everyone.’ So we chose to respond to the need of 100% black-owned businesses, which also happens to be the greatest area of need in terms of entrepreneurial activity in the country. The businesses that are incubated at SBU are what we call the ‘cream of the crop’ in terms of entrepreneurial potential. We incubate businesses that will be sustainable so that they can improve the economic conditions in the country. Our focus is not on survivalist businesses, but game changers and high impact entrepreneurs that can grow into large corporations and employers. Over the last five years, SBU’s statistics have shown that out of the 100 business owners that walk through our doors, only 5% of them get to be incubated. This is because we have a clear focus on long-term sustainability and choose to support businesses, which can meet our strategic objectives which are aligned to the country’s National Development Plan (NDP). What sets your business incubator apart from other incubators in the country? We conducted extensive research on the trends in small business development and we found that 84% of small businesses fail within the first 24 months of operation and out of that, 90% are black businesses. Reducing the failure rate especially of black business is extremely important and that is why we have our mandate to respond to this group in particular. When a business is accepted into our extensive 36-month program, they need to create a minimum of four jobs during that time. Other structures in South Africa on the other hand create on average 1.2 jobs and when you look at other developing nations, the figure sits at 3.3 jobs over the same period. Our other focus is to ensure that at least 50% of the businesses that graduate from our program are sustainable. The national average of success currently stands at about 20%. SBU have maintained a statistic of 70% graduation sustainability over the last few years. What has the business incubation industry and government not done well thus far? What has not been done well is the maximising of all the available resources in the system to help execute the mandate. The value chain for small business is still very disjointed and if we are to make the progress needed, this needs to change. What are your priorities as the Chief Executive of SBU? No doubt sustained long term impact. However there are a few things that need to happen for that to be realised. We want to not only see businesses doing well but as they graduate, they need to stay a part of the alumni of successful businesses which others starting up can look to for advice, mentorship and potentially market