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Monthly Archives: July 2017

Are You Recommendable? – Tokunbo Fasoro

Are you Recommendable? I went to an organization to deliver a training on Personal Effectiveness. While I was speaking, a man stood up and complained bitterly about how the Nigerian economy is so bad, with a high rate of unemployment, and how four (4) of his children who are graduates are at home with no jobs. I decided to have a chat with him after the training where I asked him to send one of them to me. After speaking with her, I discovered she had very poor communication skills and I asked myself, “Can I actually recommend her to any of our clients?” The honest truth is that communication is one of the most vital qualities we look out for during interviews. Every job seeker needs to do an appraisal on how good your communication skills are. I have put down a few tips on how to improve your communication skills. Read good books: Books that would help in building your vocabulary like novels, inspirational books or even your primary school English textbooks can help improve your communication. Association: Interact with people who have excellent command of English that will in turn rob off on how you communicate. Watching ...

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Who To Negotiation With A Potential Investor

There are too many people that think raising money is like an episode of Shark Tank. You say, “I’m raising $XM at a valuation of $YM” just like they do on Shark Tank. Not only does providing a valuation makes you look like an amateur, providing a valuation can reduce the value of your company. Let me explain… In any negotiation, you should always let the other side provide a price first. Yes, you have to be emotionally strong because of the effect of anchoring, but… It’s always possible that you will get an offer at a price much higher than you expected. And you blow that opportunity the second you put a price out there first. So, absolutely be clear about how much money you’re raising. That’s the right way to go. But stay away from providing a valuation. The market (potential investors) will determine what your company is worth. Then you can always say, “No thank you” if you don’t like what you hear. I’m not saying you shouldn’t have a plan when you negotiate. You absolutely should have a plan. And you should have an idea of what you believe your company is worth. But understand the ...

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Business Partnership (Pt 3) – Opeyemi Komolafe

Business Partnership Part 3 As much as having a partner gives you leverage, having a problematic partner can cost you business, clients, your reputation and even your entire company.  So what do you do when you find out you have made a partnership error?  Dissolve the partnership as soon as possible. Knowing that a business partner is a fellow member of a business by contract, to dissolve the partnership, you will have to go back to the contract, get your lawyers and settle amicably (hopefully out of court).  It is important to note that all partnerships have their ups and downs, that said, we must be able to separate differences in personal and corporate affairs. Irreconcilable differences in some personal affairs might not necessarily impact the business, so to dissolve a viable partnership over preferred educational systems for your children is just plain folly, no matter how heated the argument. The denomination of your church does not impact on your business. A necessity to take an annual leave to vacation every year doesn’t necessarily impact your business.  As long as those differences don’t affect the business or reputation of the business, the partnership can work.  The minute your differences begin to ...

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THE LITTLE BIG THINGS RECRUITERS ASSESS

What Do Recruiters Look Out For Recruiters complain day after day on how there is a shortage of skilled manpower in the labor market. I could interview 15 different ‘qualified’ candidates for a role and be amazed at how short they fall from the mark. The universities churn out graduate and postgraduate students every year, yet recruiters search endlessly for the right candidate; that square peg to fit the square hole.  You have an interview that you are qualified to the teeth for. You’ve memorized all the jargon you’ve been told recruiters want to hear. You have donned the right outfit to appeal to the widest range of personalities. After the interview you could swear that you nailed it, yet you never got called for a second interview. Let me give us an idea of some subtle things recruiters assess, but would never be caught dead stating as a reason for not selecting you. Ideas Your breath: If you have an interview, please do not eat spicy food or onions. Even if you are too nervous to eat, kindly have a mint before you go in. Bad breath is a major turn off for recruiters. Your smell: If you have ...

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Top Five Tips for A Killer Presentation

How do some people give killer presentations while others simply flop? In the majority of cases, it’s preparation. Most people will be at least slightly, if not very, nervous, before a presentation or talk; the trick is to channel the nerves into something positive, rather than seeing it as a fail before you even begin. Here are Alison’s top five tips for giving a killer presentation! Top five tips for giving a killer presentation 1. Get Clarity Sitting down and thinking about what it is you want to get across is the very first thing you need to do. What is the presentation about? What are the main points you need to get across? 2. Create Your Story Think of your presentation as a story – you have a story to tell and you want to tell it in the most effective way possible. So you need to have a beginning, a middle and an end, just like any other story. Make sure that it’s clear, concise, sticks to the point, and doesn’t try to fit in too many points. Think of crafting a story – you want it to flow, to be entertaining, to engage – all the things ...

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10 Ways to Know If You Have a Great Business Idea

Good Ideas Ready to take on the world of entrepreneurship? In order to find startup success, you need a great business idea. But a winning business idea is more than just something you’re excited about or good at — you have to make sure your idea is actually viable. Business News Daily asked experts how you can tell if your business idea is poised for success. Here are 10 questions to ask yourself before pursuing your business idea Does it solve a problem? Entrepreneur and co-founder of the Web design school The Starter League Mike McGee thinks the best business ideas are those that solve a problem in some way. “If there is a problem that affects you, your friends, family, co-workers, etc., then the chances are high that it affects people you don’t know as well,” McGee said. It’s paying customers who validate an idea and determine which ones have the greatest chance for success, said Wil Schroter, co-founder and CEO of Fundable. “An idea is just an idea until you have a paying customer attached to it,” Schroter said. “Anyone can discredit a simple idea, but no one can discredit paying customers.” What’s your price point? Charlie Harary, founder and partner ...

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Business Partnership (Pt 2) – Opeyemi Komolafe

Business Partnership 2 In business relationships, integrity on your part and the part of your clients, vendors, financiers and employees cannot be over emphasized, however, in a business partnership it is completely non-negotiable. Apparently I am back to this topic of integrity, click here to read Part One. It can never be overstated. Imagine having a business partner who is completely unpredictable, someone you can’t trust to deliver on a job, someone you cannot assign as a signatory to an account, someone with whom you cannot take a well deserved vacation, I can go on and on but my point is clear. Having a business partner means you agree to some extent with the personality, value system and priority rating of that individual. You are better off facing the challenge of running a business on your own than having a partner who keeps you up at night, raises your blood pressure and has you keep your Account Officer on speed dial. We’ve spoken at length about integrity in one of my previous posts. As we did for ourselves, in picking a business partner, kindly ask yourself these questions based on what you know about this person. “As a person, what ...

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