A lot of the rhetoric around success in Nigeria leaves us all hoping for a lucky break.
"Divine favour"
"Unmerited promotion"
"The only alert in your life this year will credit alert"
These things happen. But not for most people.
But there are things that you can do everyday that can increase your chances without having to rely on that one lucky break...and even increase your chances of having a lucky break.
1. Read as much as you can in your field/intended field
2. Try to spot statistical trends around what industries are currently or going to be "hot"
3. Take post graduate qualifications e.g an MBA/MSc/CFA/post grad diploma
4. Have an intentional networking schedule
5. Publish in your field
6. Save a proportion of what you earn to invest in a diversified portfolio of assets
7. Hangout with smart people
8. Volunteer for opportunities on committees
9. Help others when you can
10. Marry the right person! Esp important for ladies
11. Dress appropriately for your industry (yes I can write the ones that I don't do )
12. Pick up new skills through online learning
13. Shoot your shot strategically, don't worry too much about rejection
14.Attend industry events
15.Remember discipline is a super power
16. Remember failure is an event, not a person
17. Try to be the best at whatever it is you do
18. Start or set up a mastermind group
19. Find an accountability partner
20. Learn how to negotiate better
21. Improve your public speaking skills
22. Improve your writing and storytelling skills
23. Improve your diet
24. Excercise more
25. Teach what your know
26. Write ✍ down your goals
27. Celebrate small wins
28. Learn how to sell. Sales skills will serve you in almost any industry.
29. Review your written goals as often as you can. Write them in places you can miss.
30. Embrace online/distance learning so that you can earn whilst you study.
31.Go to a tier 1 University eg Unilag
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I have often found mentorship relationships with people that have a lot more money/success than me extremely difficult to maintain. Mentorship relationships nearly always have to be pro quid quo.
When you have nothing significant to give the other person, it sometimes gets awkward. If its a man, especially an older Nigerian man, he may start pestering you for sex.
And don't be deceived by the urban myths of rich men buying cars & houses for female "mentees"
What's far more common is the rich guy will pester you & harass you under the guise of "mentorship". You will get absolutely nothing in return except for a few aspire/perspire motivational speeches.
If its a woman, she may simply stop picking your calls after a while.
At the beginning of the year we expanded our in house personnel development program to include sponsoring team members to do their MBA, CFA, mini-MBA & FMI qualifications.
But recently we added the Financial Modeling & Valuation Analyst (FMVA)® Certification for the following reasons; 1. It's super practical 2. It's completely online 3. The tutors have practical industry experience
4. Many financial courses miss out power point training for pitch books etc. FMVA includes this in their course
Ladies. Very interesting research by Carothoracic Surgeon, Dr Nicki Stamp about how heart break can literally break us.
Did you know that for women who are divorced, the risk of a heart attack is between 1.29 to 1.39 times higher than for women who are continuously married?
For men, the figures are similar, with the risk of heart attack for divorcees 1.38 times greater than for their married counterparts.
In America and especially in Europe, pension funds were conservative. They didn't move into VC until the ecosystem was established with plenty of exits and a number of experienced GP's with rock solid track records.
In Africa: 1. The VC asset class is still new 2. Still few exits 3. Undeveloped stock exchanges/ M&A markets which reduce the frequency of liquidity events 4. Low number of experienced GP's with stellar track records 5. Far more attractive fixed income returns than America/EU
6. Macroeconomics problems like inflation and devaluation 7. Regulations that only allow them to invest in certain types of assets
I believe pension funds will come along soon, but it's their job to be conservative.