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How Africa’s top young entrepreneur for 2015 wants to solve the jobs crisis---22-year-old Chris Kwekowe that took home $25,000 worth award

A few weeks ago 22-year-old Chris Kwekowe was announced the 2015 Grand Prize winner of The Anzisha Prize, Africa’s premier award for youth entrepreneurship. He is the first Nigerian recipient of the award and takes home US$25,000.

Kwekowe is the co-founder of Slatecube, an online platform he started with his younger brother that seeks to solve the unemployment crisis in Nigeria, and ultimately sub-Saharan Africa

According to World Bank research, 11 million young people will be entering the job market each year across sub-Saharan Africa, but a large percentage will face unemployment. In Nigeria alone, a study by the British Council revealed that around 23% of fresh graduates will not find jobs, mainly due to these graduates lacking both the skills and experience required by companies and organisations.

Kwekowe realised this while trying to recruit his computer science classmates to work at Microbold Smart-Systems, a company he and his brother started as teenagers to build websites and online solutions for businesses. He noticed many classmates lacked the practical experience required to solve real-life problems.

“I just couldn’t recruit my classmates to work, even temporarily, on projects because they didn’t really have the necessary skills. So we thought: why not create a platform that leverages on users building knowledge and experience so they can get a job at the end of the day?”

The idea behind Slatecube was born, and Kwekowe and his brother officially launched it towards the end of 2014. It offers courses that combines skills development with practical experience, and then matches this to industry-related jobs.

For example, if a user takes a web development course, at the end of it they have to build a web application as their project. Once completed, their projects are listed on the projects board and relevant employers are notified.

Course instructors can be individuals or organisations looking to provide skills training courses on various topics. However, instructors are encouraged to offer at least one free course so the Slatecube team can evaluate them. Thereafter, they can charge users for their online courses, with Slatecube taking a 25% commission.

The company also earns revenue by offering promoted listings for individuals who have completed a course and then want better visibility amongst companies looking to recruit their skills.

In addition to the 300 users who have completed courses on the platform in less than a year, Slatecube has also developed a skills-focused bootcamp for over 1,500 students studying computer science at Nnamdi Azikiwe University in Awka.  The company has also partnered with MIT to offer a course on entrepreneurship.

From medicine to computer science

The oldest of five brothers, Kwekowe has always wanted to do something that would make his parents and younger siblings proud.

“And while I am the first born, I am also actually the shortest in my house, and so I always have to make sure that my presence and impact is felt,” he joked.

Slatecube is not Kwekowe’s first entrepreneurial venture. When he was 16, he started selling farm produce – such as watermelons and fresh vegetables – to earn some cash. With few expenses, and considerable demand for the produce, he made a comfortable profit.

“And I realised that if I can do something like this without much planning or really spending money, maybe I could actually do even bigger things.”

However, having excelled at school, Kwekowe originally planned to study medicine. And while he had always loved computers, he did not imagine how he could turn it into a career, until he took a gap year after high school.

“I would actually say it was the best year of my life,” he emphasised. “It helped me realise where I belonged.”

Being proficient in computers, Kwekowe was often asked to assist a local organisation with IT-related queries. He started researching how programming worked and became fascinated with it.

“I knew this is what I really wanted to do and the next year I wrote [the entrance exam] for computer science. It was a breeze and I got into a tertiary institution to study it.”

In his first year of computer science, he started Microbold which is now the parent company of Slatecube.

Growing pains

While today Kwekowe holds the title as Africa’s top young entrepreneur for 2015, growing Slatecube has not come without challenges and lessons.

“When we first started we were convinced this would be a solution schools would buy into straight away. We spent so much money sending proposals on partnerships to schools and transportation to go talk to them… But it seemed nobody was interested in what we were trying to do. It was 90% a failure – there was only one school that actually responded. It was really devastating for us.”

He realised part of the problem was they were marketing Slatecube to the wrong people.

“It is really more about the students than the school – that was what we realised. When we adjusted our model, and focusing on students and groups that engage students, things changed. It was a learning point for us.”

Kwekowe has also faced personal challenges with being an entrepreneur, most notably when it comes to standing in front of potential investors and selling his business concept.

“I am a developer, a coder. I like sitting in front of my laptop and just drilling out thousands of codes. But I don’t really have confidence to actually present my company and talk to people about it – that is a really big challenge which over time I have been working on.”

Another lesson has been learning to listen to the market. Kwekowe noted tech entrepreneurs can easily get so attached to their ideas that they forget to listen to their customers’ needs.

“But I am seriously working on that and through market research we are finding out things that we need to let go and things we need to continue working on.”

His advice to other young entrepreneurs is to develop a team with complementary skills.

“It is often best for start-ups to have co-founders. Whether you are a tech person or a business person, you should look for someone who complements your business. For example, if you want to run an e-commerce company and just know about clothes and pricing and distribution, then it is necessary that your co-founder is a technical person. This means you won’t have to spend so much money on recruiting IT skills,” he explained.

Looking ahead

Kwekowe hopes to use the $25,000 received from the Anzisha Prize to roll out ambitious plans for 2016. In the first half of the year, the Slatecube team will introduce four bootcamps across Nigeria, which are also open virtually to users across the continent, with the aim of upskilling 6,000 students and job seekers. And during the second half of the year Kwekowe hopes to run various entrepreneurship-focused programmes and events, in partnership with MIT, to assist 200 start-ups run customer-centric, scalable businesses.

The company also has plans for the rest of the continent too.

“We are looking to help over 20 million job seekers across sub-Saharan Africa develop the required skills to land well-paying jobs or start profitable businesses in the next five years, while also helping start-ups scale faster by recruiting highly skilled professionals at little or no cost.”

credit – howwemadeitinafrica.com

How Joining A Real Estate Investment Club Can Turn Around Your Finances For Good Forever

Stocks, bonds, treasury bills, fixed term deposits, etc. 

These are just a few of the investment options where the superrich put their money. But no matter how long you stretch any investment list, it is never going to be complete until you add something – Real Estate.

Individuals have long known that it is possible to make lots of money by investing in real estate, but very few, proportionately speaking, have the capital available to be able to do any investing. The solution is for such individuals to join real estate investment clubs, so that their money {as small as N5,000} can be pooled together in order to purchase properties that they otherwise could not afford to buy. This week’s edition of SucessDigest takes you into the world of real estate investment clubs. You get to learn how you can join one and benefit from it – own properties and build your wealth - or how you can even set up one by yourself.
 
What is a real estate investment club?
 Wikipedia, the online free encyclopedia, defines real estate investment clubs as clubs formed by individuals who want to invest specifically in real estate. It says real estate investment clubs have been booming since the 1990s and that they vary between those that focus on single family homes and those that focus on commercial real estate.
 
Mr. Sunny Elem, Managing Director, Wealthteam Properties Ltd.,
Says, “Just like any other investment and as the name projects, real estate investment is keeping your money in real estate industry with the hope of making returns on investment. Some people invest to build; some invest to sell, so whatever the case, real estate is there for any investor.
 
Mr. Debo Adejana, MD, Reality Point Ltd says, “By my own coinage, I will say it is an investment that specializes in investing in real estate and make real estate its priority. It is not ideal for any investment club to have only one investment item, there are other vehicles of investment – the money market is there, capital market is there, real estate market is there and other markets are there. For us, real estate gulps the highest. The one we have done, the ratio we have had in time past is 10%:20%:70% - money market, capital market and real estate respectively. That was even when the club had taken off fully, but if it is just starting, there will be a take-off strategy, which is usually different because of the nature of business investment, it will be more capital intensive than most other available investments. So, we need to aggregate a sizable amount of funds – in this process, we played a lot in the money market and capital market”.
 
Mr. Oluwafisayo Akinlolu, Director, Hulk Properties and Homes Ltd says, “It is the coming together of a set of people and pulling resources together for the purpose of investing in real estate - you are looking at a group people to do this, as the general idea behind it”.  
 
Who can set up a real estate investment club?
Elem says, “Anybody can form it, but based on the person’s understanding of the industry – as in, you are an organizing group of people to invest in real estate, at least you must have good understanding of how those things work. There are some few questions you need to address, like: How long are we going to hold on? Are we going to develop a virgin land? Are we going long term or short term? All those must be factored in, without that; I don’t think it will work out”.
 
Adejana says, “Anybody can form it. However, for a successful real estate investment club, the people who are pioneering it must be knowledgeable about the items of investment – in this case, real estate. So, if someone is setting up a real estate investment club, I want to presume that such a person is very vast and knowledgeable in the real estate world, so that he can make a success”.
 
Akinlolu says, “I don't think that there is a law in Nigeria that says a group of people in Nigeria can't come together and do whatever they like - you can form a club. We are talking about real estate investment club, you don't have to be a corporate entity. You can have like a group of five friends come together with their resources. Investment is simply putting money into something for profit sake. This is different from the personal consumption real estate”.                  
                         
What are the benefits of being a member?
Elem says, “Those that join investment clubs, do that basically because they don’t have time to manage the business; when doing it themselves, they don’t have the required funds to go into real estate – knowing fully well that real estate is capital intensive.
 
In a real estate investment club, members come together to:
     .  network

• gain knowledge about investment practices
• get hot tips about available commercial or rental properties
• become familiar with laws and regulations
• understand market trends and how to profit from them
• trade information about vendors for property improvements and services
• get the advice of legal and financial professionals
• learn from guest speakers
• find a supportive group of like-minded individuals with common goals

 
Adejana says, “Benefits will vary from club to club as it will be defined by different clubs. However, generally, you will say that one major thing that real estate investment clubs enable the members do is to access real estate investment at their level – meaning, with minimal amount, they will still be able to access the kind of the trust that real estate investment brings, because their money is being pulled along with other peoples’ and that became invested and comes back to them in that ratio as well. But standing alone, for instance, the one we did with 50 people contributing N20, 000 monthly – N20, 000 monthly on its own can do probably nothing in real estate investment. So, that is what it avails members – opportunity to be able to key into real estate at that level and then, knowledge.
 
When you actively participate in a real estate investment club, you gain knowledge, in the sense of that industry you are investing in. This is because as the club takes decisions, there are usually reasons and underlining considerations why they are taking those decisions. Furthermore, if you are privy to the decisions of the investment committee within the club, or the management board, you gain exposure in the subject of real estate that you can use in your own private business”.
 
Akinlolu says, “The benefits of Real Estate Investment Club will be dependent on what the members, organizers or the coordinator agree on. Are you investing for the purpose of cash returns or are you investing for the purpose of getting real estate at the end of the day - it is like running a cooperative society, which will have objective, as in, why you are running the cooperative. So, if you are running a real estate investment club and you are answering those questions, then you must have answered them before you start. If also, I am to invite you to invest in our real estate club, I should be able to tell you the objectives of the club”.  
                                     
Mr. Felix Modebe Osuji is the Chairman and Group Managing Director, Cuntury 21 Nigeria Real Estate Group. He says members of the company’s real estate investment club who attend an exclusive, members-only, property launch gain the inside track on the latest property investment opportunities. “Members benefit from at least a four-week period prior to the property being available to the general public and at our launch events, we offer significant preferential pricing for members only, and for a specific launch period. Members have saved up to N5m per property at past events”, he says.
 
He adds that members are also privy to an informative monthly newsletter which not only updates them on the developments within the Century 21 Group, but on the property market in general. “There is also our Property Education Module comprising 10 chapters. It is a course which gives any aspiring property investor the ‘101 of property investment in Nigeria’. Access to this information is limited to members only”, he says.
 
He says members are also privy to YDL Property Education workshops. YDL, he says, is an independent provider of education and information and is known for its innovative educational workshops that equip both first-time and experienced investors with skills to make effective residential property investment decisions.
 
Modebe adds, “Century 21 has the opportunity of bulk negotiating discount offerings on a number of properties within the Investor Club portfolio. With discounting options of up to 25 percent to our Investor Club Platinum Members, one can enjoy blue chip property investments with instant equity”.
 
Mr. Chiedozie Udechukwu is the President of MASTERMARKS Group. His companies have been involved in urban development, building construction in Nigeria for 19 years. He says ‘Teamaction’ is the common name of his company’s investment clubs, adding that members of the club synergize with other like-minded individuals and pool capital together to invest in real estate deals. “The resources are to develop residential estates and business plazas/shopping malls, comprising attractive, cost effective houses, shops and offices in serene environments; and sell them at affordable rates and make good profits”, he says.
 
What are the requirements for becoming a member?
Adejana says, “It still has to be investment club specific, but generally, you say that the person must be over 18 years, must have a means of income. Otherwise he may have problems making up with his contribution. The person must be of a sound mind and must be ready to be agreeable with the terms and conditions of joining the club”.
 
Akinlolu says, “This will be what the club decides it to be - it doesn't have a fixed format because objectives vary.   If I may let you know, I don't run a Real Estate Investment Club, but I will start very soon, as all arrangements are completed. It is risky from a business perspective to pull other peoples' resources into only one investment vehicle. Unless you have a structure for running an investment house - you don't have a business taking money from people.
 
When you do investments, you are taking calculated gambles, not knowing whether it will all go burst. So, taking a moderate, going bad situation as an instance, and you have made promises to members. It means what you have at the end of the day is capital. What I am saying in essence is that if you are going into Real Estate Investment Club, then it means that you will probably like five, six or seven business channels - what you are looking at essentially, is that, at no point in time are you having more than a particular percentage of money tied down in one investment.
 
Having like 20% in real estate, 15% in some other businesses and so on. So, at the end of the day, if something happens, you won't lose totally. No matter how well you think you have tidied, the uncalled-for can happen, but you will have about 80% of your money in other things. You can also diversify within one business. So, you can now have a real estate that is diversified - you can have lock up shops, hostels, rentals properties, estate development, among others”.                                          


What is the guarantee that the funds of members would be safe?
Elem says, “Is there anything like guarantee, most especially in business? Even when you have all good intentions, information and the right thing in place, things still go wrong. Though, as I have earlier said, one must do things right.
 
Adejana says, “It depends on the investment club. I wouldn’t say that there is any thing that guarantees members not losing money, other than investment clubs investing properly”.
 
Akinlolu says, “There is no guarantee anywhere, other than trust. There are people you meet, you just trust them and there are places you go to and you just have confidence in the structure”.  
         
Minimum amount a member can invest
Adejana says, “It still depends on your club. There is no hard and fast rule concerning this. In our own case, we have one that N20, 000 is what you join with (monthly). Before then, you would have paid N10, 000 joining fee; and there was when we had N10, 000 monthly contributions. The joining fee is to take care of the administrative affairs of the club.
 
Akinlolu says, “There is no minimum capital. Real estate is real estate; it is what you have that you will make use of. You might decide that your own real estate investment is to build or to buy and sell - let's take for instance, five people contributed N20, 000, that is to say you have started. Real Estate needs knowledge and I will say, that is your minimum capital needed, as you can start a deal with nothing in your pocket - I mean with zero capital. But if I'm going at zero, but I have knowledge to know the kind of people that will form the investment club, what their core area is and how to operate, I’m good to go”.    
           
How long does it take before one’s investment starts yielding profit?
Elem says, “A lot of factors come in. It is difficult to just talk about when to yield – this varies from property to property. So, speculation can trigger property to shoot out from nowhere, while otherwise, it may drop. On our own, we don’t tell people the timeframe, but encourage them to be patient”.
 
Akinlolu says, “There is no time limit. You can go into it and expect it to yield in ten years, 25 years, 30 days and so on. But generally for investment, I always advise that when you want to invest, you look at between one and five years, so that if there are problems, you can have time to work round”.
 
Adejana says, “It depends on what you invest on, there so many things you can do in the real estate world. The most common one is property trading - buying and selling. So, from upward of 90 days it can start yielding, depending on the margin you want to make and how you can play arbitrage. If for whatever reason you stumble on a property that somebody just wants cash for and you have cash and you are given good discount - take for instance that the property is N5 million and you have been given discount of N4 million - you can take the property to the market and sell for same N5 million within 90 days”.    
               
What risks are members exposed to?
Elem says, “There must be risk in any business – any business you are told is without risk, you had better run away [from it] - you are about to be deceived. For instance, I once experienced one of the risks come true – natural disaster and the normal Nigerian factor of absconding with the investment money. But it bothers on you getting to know the founder of the investment club”.
 
Akinlolu says, “There are risks, normal risks of any business, natural disasters for instance; or adverse changes in government policy that affect your sector. Let's say you plan to build with certain amount of money and prices of materials change. There are lots of risks, but they are not insurmountable”.
 
Adejana says, “When money is contributed on a bad investment or if all your investments are bad, you may likely lose all your money or if it doesn't yield as expected, you may lose part of your money, most especially if you can't wait. In real estate, sometimes if you can wait, you won't lose as much. So, the major risk to members is the risk of losing their funds. Also, there is risk of misappropriation”.
 
What to look out for when searching for a prospective club to join
Elem says, “Firstly, let’s look at the property itself – you must see what you are buying. You must also consider the area. To me, I look out for whether the area has government interest – individuals and communities cannot develop an area without government involvement.  The next thing is to find out the government position in the land – is it acquired or committed. So, once the company is able to show you the viable land information from the state government, you can go ahead. You too need to do your in-depth research and make sure you have a mindset for long term investment. So you must be patient
 
Just like other businesses you want to invest in, you must to first of all consider those that are running it – are they men of integrity, can they deliver, do they have track records, what have they been able to do in the past? Apart from that, real estate in general from my own personal experience has been very good. If you invest in real estate, if you do it right, you’ll be successful”.
 
Adejana says, “Look out for those success factors we had earlier discussed. Is it an individually created investment club, registered on its own with CAC? Does it have a proper management board in place and proper engine running the company? Do they have a company secretariat? Is the running of the secretariat left in the hands of competent executives, such that they are properly keeping their records – accounts particularly. Do they have their AGM? Do they get their accounts audited well? Who are the people that constitute the decision making body of the club?”
 
Testimonies Of Success
Udechukwu who spoke of how he came up with the idea of helping people with an investment club to become wealthy, says, “Because I am a successful real estate investor with an open door policy in my business, everyday I get requests from professionals and salary earners to teach them how they can become rich from real estate business. I quite understand their feelings since I once practiced as a professional in the architectural industry, I did not become wealthy overnight.
 
As a professional then, despite the fact that I got good pay from my clients, yet I was broke every now and then. It was a vicious cycle until it dawned on me that I could only become wealthy if I become an investor. The question then was, which industry should I invest in? How do I prepare myself? Considering that I am an architect by profession, artist by nature and a builder by exposure I decided to invest in the real estate industry. In preparation to fulfill this dream, I studied building construction at the Institute of Management and Technology (IMT) and Project Management at University of Lagos. I also attended School of Leadership at KICC and School of Estate at RPL.
 
The knowledge acquired in these institutions with exposure from working with the Federal Ministry of Works and private sector of the building industry contributed immensely to my success in the real estate industry. Looking back today, I am happy that I took the decision. Believe me, Real estate is the business you will always profit from, if you work with the right people. It’s always appreciating in value. It’s one form of private investment that will yield good returns for you. For two decades in the industry, I have run MASTERMARKS Limited, which is one of the foremost indigenous companies. The company has been actively involved in urban development and building construction in Nigeria. After discovering that most people interested in investing in real estate businesses don’t have the time and patience to learn how it works I was motivated to establish an investment club in real estate. The investment club was first incorporated in 2005 as Teamaction International limited, which has now given rise to a set of seven Teamaction Limited Clubs; each is to admit only 50 shareholders as mandatory”.
 
Adejana says, “We have members who have benefited from our investment club. Before the expiration of five years, members have gotten yearly dividends, and pieces of land.
   
Procedure For Setting Up A Real Estate Investment Club
If you can't find a club you like in your area, you might consider starting a new real estate investment club. You can define the focus of the club and seek to attract like-minded members. You'll want to reach out to people who have expertise in different fields, but who are motivated to gain or provide knowledge about real estate investing. You'll also want to think about the professionals you might invite to speak at your meetings.
 
You can start the process by conducting research.

• 
  
• Learn about the purpose and structure of existing clubs.
• 
  
• Attend a few meetings to get a feel for how they operate.
• 
  
• Consider what they offer their members.
• 
  
• Decide how you want your club to be similar to and different from the clubs you research. Jot down ideas and activities that seem worthwhile.

 
As part of your research, familiarize yourself with key real estate laws and current market conditions.
Once you have defined your mission and have a feel for what you want your club to offer its members, recruit people with expertise in real estate law, finance and accounting who can provide information and  lend their perspectives about potential real estate deals to the group. Figure out how the members will stay in touch. You also might want to create a monthly newsletter or an online discussion board.
 
You'll also need to think about how you want the club to grow. You can set up a website to market your club, or use local publications to recruit members. It's OK to start small. As your club provides value to its members, the membership is sure to increase.
 
Since money will be changing hands, think about incorporating to protect your personal finances. Decide whether your club will be a for-profit or not-for-profit entity. Each structure carries certain legal requirements and rewards. Your state's attorney general's office can provide more information about forms you must file.
 
Your group can elect officers such as a President and Secretary. Officers and members can help you decide how to manage dues, how often to meet, where to meet and how important decisions will be made. You might also want to create committees to find expert speakers, plan special events or seek out local real estate deals.
 
Whether you find a club or create one, embarking on the high seas of real estate investment can be a challenge. But it can also be rewarding -- and profitable. Stay alert and stay informed, and you should be all right. You can start by following the links on the next page.


Bylaws
A bonus of incorporating is that the process requires you to write bylaws, or rules for the club. Even if you don't plan to incorporate, it's not a bad idea to have some rules. Bylaws clearly define the focus and operations of the club. They help avoid fuzzy concepts of how club business should be conducted and can spell out how dues will be allocated. They can also be a recruitment tool, since they let you show prospective members how the club works. You can look for sample bylaws and work collaboratively to draft and adopt its own bylaws
 
Strategies For Running A Successful Real Estate Investment Club
Adejana says, “Number one is knowledge of the people running it – that is very critical, as they need to know what they are doing and that the market can be dynamic at times. We had an experience at the time the economy had a down turn. Terms and conditions must be well spelt out and every member must understand and sign to it, indicating that they accept it. Meetings should also be held. Communication is among the list – people need to be carried along as to what is happening. Usually, what people want in investment club these days is a place where they can just dump their money and at the end of the year come for it – they don’t want to bother their heads about what is happening or how you are making it. That will only work, as I have found out, when you are making money. When the money is not made as expected, explaining to such people becomes very difficult, because they have not been carried along. Communication is very key. It is what makes the difference”.
 
How does the founder of a real estate investment club benefit?
Akinlolu says, “I will say benefits or gain for the founder varies - some can do it for the fun of it, while some can do it to prove a point, as a challenge; for instance, starting with zero naira. But one thing you need know is that, whoever is creating something would have at his or her mind what his or her benefit wants to be. Some go into it for the purpose of acquiring their own property - you can have a group of people coming together to achieve or access cheaper prices. This is because if you are buying one property, it is not the same price as when buying a hundred properties.
 
 Adejana says, “The truth of the matter is that when you start an investment club, you should not be mindful of the benefits - it is one of the things that can cause problems. The benefits we had then was that we were able to proffer solutions to some problems, and get paid as consultants. Because we were knowledgeable about real estate, when they want to buy or sell, we were the ones that they came to for consultations. In everything you must make sure that the interest of the members supersedes personal interest”. 

Culled From SuccessDigest

Mark Zuckerberg(Mr Facebook) Uses Daughter's Birth to Announce New Charity

Wanting to share the news about your new child with the world is understandable. It was no surprise, then, that Mark Zuckerberg took to Facebook -- his first baby -- to announce the birth of his daughter, Max. What was unexpected was that the mogul decided to simultaneously announce Max’s arrival and his new charitable endeavor.

In an open letter to his baby girl -- which doubled as a 2,238-word press release, with bolded phrases and separated sections for maximum ease when skimming  -- Zuckerberg writes that he wants to “join people across the world to advance human potential and promote equality for all children in the next generation."  

While parenthood tends to put life in a new perspective -- though it’s not all that new; Zuckerberg is no stranger to philanthropy -- adjusting to the role is momentous and special enough it doesn’t need to be presented alongside business dealings.  It’s doubtful that inspiration struck the new father during a midnight feeding. Chances are that he had this announcement ready to go long before his wife’s due date. Therefore, a moment that is ostensibly raw and personal has an aftertaste of being calculated and orchestrated.

Certainly Zuckerberg isn’t the only celebrity to connect his new child to a charitable cause. The Jolie-Pitt clan famously donated the money they received from the sale of their twins’ first photos and wedding picturesto the Jolie-Pitt Foundation. Other celebrities, including Nicole Richie and the Duchess of Cambridge, encouraged guests to donate to charity in honor of their baby showers rather than giving the expectant mother a present.  In those instances, however, the child was the focus of attention and the charity work was a benevolent bonus. Here, we’re not sure which announcement is Zuckerberg’s primary focal point.

The letter also states that Zuckerberg will give 99 percent of his Facebook shares to the new foundation in his lifetime. While that’s admirable, nobody can say what the value of those stocks will be when he’s ready to sell them.

The new parents have noble intentions, and it’s nice to see billionaires willing to back the causes that matter the most to them -- in this case, it’s promoting equality and advancing human potential. It’s the execution that falls a bit short. It’ll be interesting to see if a blood drive is part of Max’s first birthday party.  

Culled From Entrepreneur.com

Happy New Last Month of 2015 --->4 Ways to Weather Professional Storms

Even the luckiest entrepreneurs, whose business trajectories trend mostly upwards, aren't immune to major bumps. Some are internal, like losing several days' worth of work or your number-one team member just before a critical deadline. Others are circumstantial, like getting the best opportunity at the worst time.

Getting from crisis to success requires confidence in your ability to pull off some seemingly impossible feat. Panicking isn't an option, since you're the person in charge and everyone expects you to pull this together. So, where do you look for that confidence when you need it most?

I'm a creative entrepreneur, and my job depends on being inspired. I've learned to look for inspiration everywhere. Creatively applied, it informs every part of my life, including handling my worst professional moments. Over the years, I've grown better and better at pushing through detours and roadblocks by tapping into these four simple sources of encouragement.

1. Look back to your past professional wins -- and misses.

Confidence isn't something we develop overnight. It's the product of many small wins and resolved problems.

Too often, in crisis mode, we fall prey to the expectation that we can provide an entire solution single-handedly, or we fail to recall handling a similar situation before. Mine your own experience for ideas and resources. For me, I look no further than the longevity of my studio. That's nearly 11 years of succeeding, struggling, and succeeding some more, through some extreme circumstances -- and usually there's a parallel situation from my entrepreneurial past I can now apply. If you, too, are a seasoned entrepreneur, surely this isn't your first challenging professional situation. And, if you're just getting started, it's unlikely you haven't hit bumps along the way.

Very few professional crises are truly dire. Most, if not all, can become opportunities for growth, positive change and lessons learned. So remember all the times things turned out OK. Then take a deep breath and recognize that, in retrospect, even things that didn't turn out OK still led you to wherever you are today. Let's be honest. You're an entrepreneur reading this. That's a pretty good place to be.

2. Seek strength from your physical accomplishments.

What does a 5K have to do with handling a career crisis? A lot -- if you let it! Physical activity is a great confidence-booster and it builds up mental resilience. Doesn't matter if you run one mile or 10, the pushing yourself to get out there is a mental effort.

You don't have to be a professional athlete to convert the satisfaction of physical accomplishment into inspiration you can channel towards other challenges. In fact, sometimes throwing in a physical challenge into your messy professional moment can help During a particularly tough patch, I, an avid non-runner, agreed to train and run a half-marathon. While this seemed counterintuitive to some (and let's face it, even a little crazy to others), it was worth it. Training let me burn off steam and stress, and training my mind to endure 13-plus miles did wonders for my endurance at the desk.

Whether you opt to take on an entirely new challenge or simply recall a previous feat -- that long hike last summer, a charity race you walked or the time you made the softball team against all odds in 10th grade -- reach for anything that rekindles your sense of pride in yourself and underscores your ability to just suck it up and do it! Remember what it felt like to accomplish your goal and use it to encourage yourself now: “If I can push myself to climb that mountain, I can certainly do this."

3. Reflect on the emotional challenges you've lived through.

It may seem odd to bring up memories of emotional distress while you're emotionally distressed, but it frames your current situation within your big picture. I don't want to downplay the importance of anyone's career, but very few people genuinely view their work as sitting above all else. Comparing a missed deadline to a divorce or a serious illness is counterintuitive -- they're so completely unrelated.

But that's precisely the reason this helps. It scales your professional problem to a more accurate proportion relative to the whole of your life. I have an ever-growing list of “if it didn't kill you, it must've made you stronger” episodes. Inevitably, recalling these clears my head, making room for productive, solution-seeking thoughts over stress-induced over-reactions.

Thinking about life events truly beyond your control reaffirms your ability to alter course and resolve your current issue. There are few life situations we're powerless to fix. Chances are, your professional problem isn't one of them.

4. Remember: People can remind you of wins you forgot.

While the ability to build up confidence alone is great, no one is immune to bouts of self-doubt and discouragement. Along with your mental list of wins, keep a list of your biggest fans: friends, family members and professional associates who can quickly remind you of your achievements -- or remind you to give them the respect they deserve. 

If you're finding it too hard to deal alone, don't wait! Get someone else on the case before you think yourself into panic or hopelessness. Here, I consider myself truly lucky, because I work side-by-side with my greatest fan. I turn to her when I can't rally myself, and she turns to me when she's too down to get back up on her own.

Becoming your own cheerleader takes practice. The more you try, the easier it gets to recall the list of your greatest hits, moments that can inspire you to face a challenge with total confidence. This list could even encourage you to go beyond just meeting professional challenges but to actively seek them out.

And don't forget that having a professional challenge means you've already accomplished something quite difficult -- a career worth fighting for.

Culled From Entrepreneur.com

The 3 Ways to Split Your Time to Grow Your Business

Even the most passionate and dedicated business professionals need a break from time to time. You work too hard and too much at one thing and you're sure to burn out. That's why Bar Rescue host Jon Taffer suggests balancing your time between three things:

1. Working in your business
2. Working on your business
3. Getting away from your business

Seventy percent of your time should be working in your business, Taffer says. That's the day-to-day stuff like overseeing operations and managing the books, among other tasks. Twenty percent of your time should be spent working on your business. In other words, "making marketing better, operations better, products better, relationships better," Taffer says.

The other 10 percent of your time should be spent getting away from your business. You've heard it before: Unplug, relax and recharge. Come back refreshed and re-energized. 

How To Start A Profitable Local Food Packaging Business With As Low As N40,000

Three Leading Industry Players Reveal:

• Hot Selling Products To Package And Make Money From
• How To Do This Business Without Owning Equipment
• Huge Local And Export Market To Exploit
• How To Market And Sell Your Products And Get Customers Coming Back
• How To Run The Business And Make Great Profit 
• 
  

The Nigerian society is development fast and a few entrepreneurial minded individuals are seeing, and in fact already reaping the business opportunities that are also evolving.
 
Mrs. Funmilola Osifowora, Director, Adlov Foods Limited, Dr. Temitope Farounbi, Director, Temitope Hannah Farounbi (THF) Integrated Limited – Producer of Cassy Crunchies, and Mrs. Christiana Nwachukwu, Director, Wingrace Foods Limited all have one thing in common. They are entrepreneurs who saw that the working class group of the society, who make up a large chunk of our population, would appreciate having packaged local food stuff like Ogbono, which have been properly processed, such that they can cook them directly without having to do the preliminary work needed before cooking.
 
By making such food items available at a reasonable price, these entrepreneurs have cut down on the time for cooking such foods, and have also helped the customer to pick the best quality food stuff available, which they might not have found if they were to source the original food stuff themselves.
 
Speaking with SuccessDigest recently, they alluded to the fact that this business is highly profitable and that more opportunities are still open for people to come into the industry. They shared their knowledge and experience of the industry for interested individuals to have the relevant information about the industry that they can work with in starting and running the business to success. Happy reading:
 
What Are The Kinds Of Food Stuff You Package?
Funmilola says, “I package crayfish, ogbono, chili pepper (ata gigun in Yoruba), hot/Cameroonian pepper, beans flour and pepper soup spices.”
 
Temitope says, “Currently, we are into the packaging of food stuffs that are readily made – cassava products packaging - and we are making cassava flakes in form of cereals, which can also be had as snacks.”
 
Christiana, on her own, says, “Aside the soya powdered milk that we produce, we also package plantain, potato chips, and pap; I’m also into catering services.”
 
What Does Packaging Of Food Stuff Entails?
Funmilola says, “I actually help in easing the stress of cooking. What I do is to buy these food stuffs, take them to my factory, pick and clean them one-by-one if need be to ensure there is no stone or dirt. I also dry them if need be, after which I mill and package them ready for marketing. For instance, if you are a male customer, you just have to buy any of my products in the supermarket and you are good to go with your cooking.

“Moreso, Ogbono is a very sensitive food stuff product and it is not everybody that knows the good ones. So, as Ogbono is my major product thriving in the market, I go for the quality ones in the market, because there are varieties of it in the market.
 
“Well, aside my bestselling Ogbono, I have other two in the list to make them three – crayfish and hot pepper. My Hot pepper is also used by the Igbos because it is hotter and reddish than the chili pepper and to the extent that when it is being grinded, you can’t stay there. So, I have to go through that stress for my customers.”
 
Temitope admits that it is just a quickie on the go to have a quick meal. She says, “Actually, my product is made from cassava, as earlier said and we mix a few things with it to form a flake that you can have like a crunchy snack or put inside milk, as if you are drinking gari or cornflakes.”
 
Christiana also says that food stuff packaging business simply entails buying the raw food stuff materials, picking them, grinding them, and packaging them inside a container.
 
What Are The Processes Involved In This Business?
Funmilola says, “I will have to source for the raw food stuffs by buying them at the available market, take them to my factory, pick and clean them to make sure there is no stone or dirt in it, and then mill and package them ready for the market.”
 
Temitope highlights the processes involved as follow: get a readymade cassava flakes, mix them with honey, sugar and butter. Then you stir-fry and left in a cool-dry place to dry, after which you cut into chips and package it – note that what you stir-fry stays hot, but usually molded together.
 
What Are The Equipment Needed For Packaging These Food Stuffs?
Funmilola says, “I make use of stainless milling machine, as this is the directive and one of the requirements of NAFDAC. If you care to know, I am undergoing NAFDAC processing and I have been scheduled for inspection. I make use of drying machine for vegetables, I have sealing machine when I package with nylon, but presently I use non-disposable plastics, I use weighing machine to measure them in grams. I also have different silver bowls I make use of – these are the major equipment I use for now.”
 
Temitope says, “Generally, for packaging my cassava flake we use mixer, because we need to mix all the products together to give us a consistent flake. After doing that, there is need for us to get an industrial stirrer, where we pour it and it stirs itself under a particular heat condition. Once this is done, we will get a golden-yellow consistent flake and a propeller will have to bring it out, after which we spread and cut it. So, we need the mixer, stirrer, spreading tray, and the cutter, after which we seal it in a packaging nylon. Currently, our product is packaged and ready for sale in an hundred gram nylon.
 
However, Christiana says, “For now I don’t have any equipment for my packaged food stuff, I only contract Evina Foods for the packaging of my products – I just have to take my products to them, which they conveniently process for me under my supervision. Talking about the process at Evina where I use for my packaging, it is perfect, as they wash, grind, fry, and set in the machine for packaging.”
 
How Do You Effectively Market These Products?
Funmilola says, “I pitched my tent with the well acclaimed social media – as I sell bulk of my products on facebook, and also I use twitter. Off the Internet, I sell my products through the distribution of fliers. In another development, aside my major target audience in Lekki and the Island, I visit various supermarkets myself with samples of my products. Even if some supermarkets seem skeptical about the products in the initial stage, customers do contact me after being satisfied with some of my sample products dropped with the supermarket.
 
“There is a limit I can go visiting supermarkets because of the challenge of getting NAFDAC number. Normally, one’s product shouldn’t be out yet without the organization’s approval, but owing to the fact that I have been to their office and have gone through series of processes, it gave me confidence to showcase my products, as they are already aware of them.
 
“The quest to market my products has also taken me to my church members. People who want to travel abroad do buy ogbono, crayfish and other products from me. On Sundays, I go to church with my products and anywhere I go, even at ceremonial events I give out my products as souvenir.
 
“So, apart from the NAFDAC number that I have not gotten, I have the Food Drugs Administration of the US (FDA) license to export products to the United States of America – this gives me an edge over others into the packaging of food stuffs.”
 
Temitope says, “We are just introducing our product, which is the first of it kind to the market. Firstly, we are looking at the product’s acceptability to the school children and to some adults. Secondly, we are in the process of getting our NAFDAC number so as to have it spread across the country.”
 
In her own way, Christiana says, “I take the products from shop to shop and I sell to individuals. At times, people, including friends, church members, and colleagues who have been aware of my products demand for it and I supply them.”
 
What Is The Startup Capital Like?
Funmilola submits that it depends on how and the level you want to start. She says, “For me, I didn’t start with very huge amount of money because I didn’t have such at hand then, even presently I have not met up with all the machines I need to buy. But what I did was that I started with the little savings I had – I started with less than N40,000.
 
“This was made possible by buying “derica” measurement of Ogbono. I actually started by undergoing a training session from someone who has been into this same business. It was during the training session that I was told that I didn’t actually need huge amount of money. So, I went to the popular market where I could get things cheaper.
 
“Anyone can start this business with the little money he/she has. If you care to know, I started the business packaging of picked beans, as it is where I got the business idea. I realized that people who love to eat beans will have to pick it first, so I started the business of packaging picked beans.
 
“Later, the package picked beans idea brought about and pushed me into packaging other food stuff products. In a nut shell, this business can be started with minimal capital, even as little as N20,000 by starting with only one product, unlike in my own case, as I started with multiple products.”
 
Temitope says, “For someone who wants to start this business, the range of N500,000 can be okay, but if you are looking at starting big, at least a startup capital of N2 million to N3 million would not be bad. In my own case, I have currently spent close to that amount.”
 
Christiana says, “If you want to start with the way and manner that I started, you will need to have a token of N50,000 to start. I did not start by having my own equipment. So, the aforementioned amount is for the purchase of the raw food stuffs and pay for the service of the processing and packaging company that will help you to process and package your product.”
 
Where Do You Buy Your Raw Food Stuff Products Cheaply From?
Funmilola simply says, “I buy my raw products majorly from Oyingbo and Mile 12 markets in Lagos.”
 
Temitope says, “The raw material of my packaged food stuff is cassava, so to ensure consistency and proper hygiene; we are collecting through a NAFDAC certified cassava and gari company. For now, we are using Tosmat Foods as the basis for our own raw material and then make something better from it.”
 
Are There Any Other Business Opportunities In This Business?
Funmilola reveals that there are lots of business opportunities embedded therein. She says, “For instance, as I’m doing this business, it has exposed me to many opportunities – one of which is that I do lots of seminars and trainings. Also, people employ my service as a consultant and I’m always on air on Inspirational FM where I talk on what I’m into.
 
“This has brought about interested people calling for training and mentoring, even on one-on-one training so to say. Also, people use to ask where I get the equipment I use, so you can as well go into the sales of food processing equipment. For instance, I realize that new entrants now make use of nylon, which I deal on. However, I have upgraded to the use of plastics from nylon which I use before though I still package with nylon from request by some of my supermarket clients. So, the question is why not go into the sale of packaging nylon and equipment.”
 
Temitope also says there are really lots of business opportunities in the business. she says, “For those who want to join the chain they can be our distributors or retailers, forming a kind of employment opportunity for them because it is a consumer product. Even for those who readily work with us, they have a secured job as long as they are working with us.”
 
How Lucrative Is The Business?
Funmilola confesses that the business is very lucrative, she says, “Though I might not be able to pin-point how lucrative the business is, however, I make bold to say that I have been able to start another business from what I realized from packaging and marketing of food stuff. Also, there are lots of products to be packaged – more than one thousand food products you can package.”
 
Temitope says, “Despite the challenge of acceptability that it is having now because of being a new product, it is still lucrative running this business. I believe once it is accepted and people see it as stable milk, flakes or snacks, the sky is going to be the product’s limit. This is because we are actually looking at having our products beyond the shores of this country – we are looking at other African countries as they take cassava flakes as their own staple food.”
 
What Is The Return On Investment Like?
Funmilola concludes that the return on investment is encouragingly high. She says, “Though, I don’t feel like placing an amount, but I have had the opportunity recently to be called from UK and within for partnership. Even though I have not put in my very best on a full time basis on this business as I have other commitments, yet I know what I’m getting.”
 
Christiana says, “For a start, at the small level, the return on investment might be between 40 and 50 percent, as you might be processing just a bag in a month. So, when it is continued and the level is stepped up doing like three to four bags a month, it is sure the return on investment will rise.”
 
What Are The Challenges Of The Packaging Business?
Funmilola says, “NAFDAC is our major challenge. This is because for you to register only one product you need the sum of N52,500, which is aside other analysis tests to be carried out– the charges are killing! The last time I met with the Director of Foods at NAFDAC, he mentioned that they are still trying to liaise with the Federal Government for the charges to be brought down for new entrants, as you are just starting and your products need to be in the market. Unlike the FDA license I talked about before, you are getting just only one FDA number for as many products as you might have.
 
“Marketing is another major challenge – for instance, some supermarkets will tell you they have their own packaged products, but when you get to check the products, you won’t find any producer contact on them – if anything happens to the buyer of such products, there is nobody to be held responsible. But my company is registered and I have a name to protect, so it means I won’t misbehave with quality. I will say this is not helping those who are trying to do business the right way.”
 
Being a new business, Temitope says, “The challenges are enormous and finance is one big one except you are able to get good investors or you have access to loan for expansion. Well, as for now people are accepting the product and are seeing it as being ingenious as they are seeing it every day – the comment we get is very wonderful.”
 
Christiana highlights the challenges as: lack of equipment, no access to good transportation system – struggle to the market and struggle back home, acceptability is not too encouraging and few helping hands, to mention a few.
 
What Prompted You Into This Type Of Business?
Funmilola says, “The first thing that prompted me into the business is that I have passion for business and entrepreneurship, as I have been and still into catering service.
 
“Secondly, the business is almost three years old, exactly about three years ago that I lost my husband, an unexpected occurrence that happened on our wedding anniversary as he was attacked by armed robbers. Most unfortunately, I was left with very young kids. Though, I’m a very young woman, I realized that I can’t just sit and look; I want to be there for the kids, I need to work extra mile, among other valuable things. So, the time I need to sit back and morn my husband was just sought out to learn tangible thing to do, even as I have had it in mind before. In a nut shell, that was how I started the business.
 
Temitope says, “I was actually inspired when I was in the UK from 2013 to 2014 where I noticed that they packaged everything including cooked rice. So, I found out almost all our food products are in waste in Nigeria – we are not able to package them such that we can keep them for subsequent consumption. Then, as I got interested in this area, I was thinking if cooked rice could be packaged; there are lots of food products to be packaged instead of throwing them away.
 
“So, when I came back to Nigeria, I thought that if someone can package corn to have cornflakes, cassava flakes in form of gari seems good instead of drinking as gari or eating it as “eba.” Now, if you make it and can add few things to it, it can become a household snacks or cereal for people.
 
“Also, we want to remove the stigmatization by some people who look down on those who drink gari and make them hide it under the table. The packaged cassava flake is done in such a way that it can considerably compete with other foreign foods – you can conveniently display it on your office table and people will see it as if you are drinking cornflake, but this is cassava flakes.
 
Christiana also says, “It was a vision I had, not that I dabbled into it just for doing sake. I had a vision to be a producer of baby foods and foods for Nigerians that will be affordable to most Nigerians and also be of good quality. In a nut shell, God gave me a condition that if I will do His work, He will show me what to do. So, as I answered God’s call, He gave me the vision and began to connect me with my helper.”
 
What Has Been Your Achievements So Far?
Funmilola says, “The fact that I could train people – teaching them how to catch fish and not giving fish to them alone is an honourable thing which I am pleased with. As earlier said, I was in Ghana in 2014 – an all-expense paid exhibition by the Nigerian Export Promotion Council, where I had the opportunity to exhibit my products, and presently, my products are being exported to Ghana. Not quite long I finished a scholarship programme mainly for women in business at the Enterprise Development Centre of the Lagos Business School. So, if I am not doing this business, I won’t have the opportunity to be one of those who were given the scholarship.
 
“There is another fact that it has exposed me to exporting, as I now know the right way to do things, though, I am still having some challenge in getting marketers. I have export license, but I have not been able to export en mass the way I want it. To cap it up, despite the demise of my husband, I have been able to sustain the family, as my kids attend one of the best schools around and the business has an edge over others. If I don’t tell you I am a widow you won’t know. If you care to know, I am and I have not been lonely because of the business – there is something to think about, there is a place to go, it has helped my thinking as a woman and I can get to any level I want to get to.”
 
Temitope says, though this is a new business idea, however, so far we have achieved acceptability for the product and that is very important to us. We are expanding; we started with a small drier, but now we are able to acquire few equipment and we are making it more industrialized.”
 
Christiana sounds a bit funny, as she says, “It has been “work and chop!” But to be candid, even with the level I started from, I have been able to keep the family going and to make ends meet, and my children are in standard schools. Most especially, the vision has not died and I’m looking forward to getting higher and grabbing more achievements in the nearest future.”
                                       
Your Advice To New Entrants
Funmilola says they should first and foremost look at what they have passion for. “I do tell people that they should not start the way and manner I started – starting with four to five food stuffs at a time. They can start with one or two products to avoid delay and they should start small. New entrants should also note that decisions should not be hurriedly taken,” she says.
 
Temitope says, “My advice to new entrants is to open their minds and eyes, as what you need to package are all under your nose. I was just happy to drink gari and thought of making it into something more sophisticated within my own house. You have a lot of things you can turn into a money spinning business.”
 
Christiana says, “I want to tell them that whatever vision God gives you, it must be kept, and that no matter how rough the beginning might be God will assist you to succeed. Like me, I started unnoticed, but I am known today, and as it is said “whatever you lay your hands on or finds yourself doing, do it well.” So, be strong and be courageous in whatever you want to do and do it without looking back – if you continue, you will be successful.

Culled from successdigest!!!