Guides to Choosing Your Team (3)

​Another factor that should influence your team selection is the market you are playing in or you intend to play in. 

Is your venture a market interfacing venture? 

Which market are you playing/do you intend to  play in? 

Which segment of the market do you intend to play in? 

Does the candidate understand that market segment? 

Does he have any experience in that market? 

Who are the major players in that market? 

Does he know about these other players in the market? 

Does he know the rules and regulations of the market? 

Where is the market located? It could be physical location or online? Does he have easy access to the market? 

Is the market regulated? Does he have the qualifications to be a player according to the regulatory body? 

These are some of the questions that must be answered before you settle for a team member. 

We will continue with the other factors tomorrow. 
God bless us all. 
Good morning! 
Adewumi Oni

08028395824

09095321147

wumioni@yahoo.com

http://www.adewumioni.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010

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Guide to Choosing Your Team (2)

Every vision requires people to become reality, however you can’t choose those people based on sentiments. You choice has to be objective and be based on several factors including affinity of vision. People who have vision similar to your vision will likely be willing to work with you and they will work with passion. People of no vision usually lack passion, they are mostly driven by monetary rewards. Having them on your team may not help you because they wont see beyond the immediate returns.

So apart from your own vision, you need to be sure the people you are selecting have visions and the visions are not diametrically opposite yours.

 

2. Skill Factor: You don’t want to have square peg in round holes in your venture. It is necessary you test those you want to include in your team for requisite skills. There are several ways to do this including interview, aptitude test, psychometric test, case studies, etc. Beyond technical skills, you need to test for some soft skills like relationship management skill, communication skill, how well can they cope under stress, and other skills can directly impact on the success of the venture.

 

You are not testing to completely exclude some people. Some have basic knowledge and skills and have a ‘willing to learn’ attitude. Depending on the stage of your venture and availability of time, you can take on those with the attitude to learn and basic skills. Some have the core skills and can be engaged, subject to scaling attitude hurdle.

 

In summary, skill factor is important and will help you have the right kind of people on your team. Don’t undermine the success of your venture by allowing emotions to rule your judgement when selecting your team. If someone doesn’t have it, the next question is can he be trained? If No, there is no need being emotional, even if you like the personality of the candidate, unless there is another area the candidate can be engaged.

 

God bless us all.

 

Good morning!

 

Adewumi Oni

08028395824

09095321147

wumioni@yahoo.com

http://www.adewumioni.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010

Guides to Choosing Your Team (1)

In most cases, the success of any venture whether commercial or non-commercial depends largely on the make-up of the team behind the venture. Most successes are the results of combined efforts, not one individual effort. For instance, one footballer may emerge as the highest goal scorer in a game, but without the support of other members of the team, he would not have scored those goals.

 

It is therefore important to consider several factors when forming or making your team. This series will look at some of the factors to be considered and the pitfalls to watch out for. My hope is that we would learn how to choose team, or how to make our teams stronger by the time we are done with this series.

 

Here are some of the factors to be considered when forming your team:

 

a. Vision factor

b. Skill factor

c. Market factor

d. Personality factor

e. Cultural factor

f. Language factor

 

Let us start with the Vision factor. Vision determines almost everything about a venture. It determines the scope, the resources required, both human and non-human, the time frame, the linkages that will be needed. Anyone who intends to set out to achieve a mission must first sit down and draw up the vision. Luke 14:28 is not just about cost, it is about the vision.

 

Your vision will determine the kind of people you need in your team, their skill sets, their temperaments, their dispositions, etc. Let us look at the example of Jesus Christ when he was selecting the first twelve disciples. He chose people who were busy, engaged, rugged and determined. Peter for instance had toiled all night and caught nothing, but still had enough faith to wash his net in preparation for the next night. He also still had enough faith to trust Jesus when Jesus asked him to thrust out his net again, this time around when the day had broken. He was very hardworking. Jesus knew the vision of reaching the entire world, and knew he needed energetic people as the first disciples. People who had enough energy to rock the world. Mathew was also a tax collector and a busy man. None of this team members was a layabout. If your vision is big and with a global mandate, you need very strong, resilient and broad minded people.

 

Do not start forming your team when you have no clear vision yet, otherwise you will have the wrong people on your team. We will dig further on Vision factor tomorrow, before we proceed to the other factors.

 

God bless us all.

 

Good morning!

 

Adewumi Oni

08028395824

09095321147

wumioni@yahoo.com

http://www.adewumioni.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010

Motivating Factor Determines Success

The common assumption about business is that it is setup primarily for profit making. This perhaps is one of the reasons businesses don’t outlive their founders. Once you make profit making your sole aim in business, a lot of things will suffer which eventually will erode your ability to make profit. 
Great businesses are founded on the philosophy of solving a need or filling a gap in the market. How best you meet the perceived and existing need relatively to other businesses meeting same need, is what determines your success in business. Profits travel along with problem solvers. Whether individuals or businesses, when you always seek to meet a need, you will make profit in the process. 
It is therefore important to review your underlying business philosophy, if you are already in business,  if you are just about starting, then you must define it right. 
Beyond identifying and meeting a need, you must be able to provide answers to the following questions :

I.  What unique strengths do I/we have to meet this need? It could be your human resource capacity, or technological skill, or location advantage. You must maximise your strengths to the disadvantage of existing competitors and new entrants. 

II. What are my weaknesses that competitors can take advantage of in the chosen market? It could be your business size, poor distribution network, and so on. You must find a way of mitigating the identified weaknesses. 

III. What are the peculiar opportunities and threats in your chosen market, political, environmental, social and technological? How do you leverage on the opportunities and deal with the threats? 
When you are motivated by the need to meet a need and then build a business model around that motivation bearing in mind the questions above, your chances of success is very high. Also, you must regularly review your answers to the questions to ascertain your relevance. 
Get your business philosophy right and you are bound to be successful. 

God bless us all. 
Good morning! 
Adewumi Oni 

Onadol International Ltd 

08028395824

09095321147

wumioni@yahoo.com

Facebook: https://m.facebook.com/adewumi.oni

Twitter: onadol2010

adewumioni.com

Relationships that Matter (4)

As we approach the end of this series, we will consider another relationship that you must not toy with. Remember our premise for this series is that you can’t make it alone. You need people to reach your full potential. Keeping the right relationships is therefore a key imperative for fulfilling purpose.

As a self employed person, your relationship with your clients is very important. The saying ‘Customer is the king’ is not just a cliché, it is a truism. It remains true always. You must nurture your relationship with your customers so that you can retain them and get referrals through them.

Customers have choices, there are other competitors that can offer the same product or service you are offering. You need your customers more than they need you, hence your product/service offerings, accessibility, pricing, channels, and promotions must be cognizant of the needs of your customers. No matter how big your business may have grown, remain small for your customers to have access to you. One of the reasons why companies fail is growing so big to the extent of losing touch with market realities.

Always engage your customers through regular feedback, customers forum, and market survey. Be interested in your customers well being. Birthday wishes, thank you notes, promos and discounts, all go a long way to keep your customers or clients. Design your business in such a way that you get some personal details of your customers. It always works, especially when matched with great product or service.

Above all, ensure that what your product or service offering exceeds the price they pay for it. Value must always exceed price, if you are to retain your customers. You must take time to determine the value expectations and value perceptions of your clients. Sometimes what we regard as value offering is different from the customer’s value perception. You must always bridge the gap between value offering and value expectations/perceptions.

Regardless of the size of your business, you can grow it further or cause it to shrink, depending on how you treat your customers. Treat them like Kings and you will get them always coming back.

God bless us all.

Good morning!

Managing Crisis

Life is programmed such that we will need always experience challenging times. Sometimes it is in our personal lives, other times it is in our career, some other times it is in our businesses. I mean, that period of crisis that threatens to consume us and makes us to start fearing the worst. Nobody is immuned to crisis. Life chart is like a wave of water, with crests and troughs at different points. The crests represent our moments of great achievement while the troughs represent those moments of crises.

How do you handle moments of crisis?
1. Know that every crisis like every other thing has a life cycle. It has a beginning and it will surely end someday.

2. Maintain your peace, composure and sanity of mind. Don’t allow fear to crowd out your senses. Knowing that crisis has an end should give you some peace and sanity of mind.

3. Be proactive in information management. One of the things that kill a business faster than the crisis itself is poor information management. Take charge of the information management process. Don’t let market react based on grapevine news. Hold a press conference or meet with stakeholders to let them know what the issues are and the steps you are taking to address the issues. Be opened to your staff also, let them understand the situation, but let them know you are handling the situation.

4. Take decisive actions where necessary. Don’t delay or procrastinate on important and urgent actions. You don’t leave a cancerous cell to fester and affect other part of the body. If there is a need to disengage any erring member of your team or a product line, do so quickly and communicate the disengagement properly.

5. Have a crisis and disaster management plan in place. Don’t wait for the evil day. Plan for the evil day. Your disaster recovery and management system should immediately be operational in crisis moments.

6. Watch out for new opportunities in the crisis. Crises sometimes present us with a new set of opportunities that were hitherto hidden to us. You could discover a new product line, new service type or new market in crisis, that is why you need to maintain your calmness.

If you wait it out, it will pass and you will be stronger and better. It will surely pass.

God bless us all.

Good morning Africa!

Good morning Nigeria!

Real Estate Opportunities

Landed Property

Description
A property housing four 3 Bedroom units in the main building plus a 2 bedroom flat and self contained in the BQ with parking space for about 10 cars
Suitable for residential, shopping mall or school.

Title
C of O

Location
Iju Ishaga, Lagos

Asking
45million NGN

Land
1. Plots of land at Mowe-Ofada axis price between 900 & 1.5m per plot

2. Plots of land at Shimawa at 600k per plot.

3. Plots of land at Ibeju Lekki Local Govt.Area near Pan African University at 1.25m per plot. Instalmental payment option available.

4. Sponsorship Opportunity: Eight (7) plots of land at 1.5m at Igbogun village, after La Campagne Tropicana Resort, along Lagos Epe Expressway. This is a rare investment opportunities. It is envisaged that housing demand by Dangote Refinery workers, Free Trade Zone workers, and proposed Airport staff will multiply the value of land in that environment. Best for investors.

5. Plots of land at Baruwa Ipaja at 2.5m NGN per plot.

6. 1456 sqm of land at Riverview Estate, beside Channels Television, OPIC. Asking 40million NGN. (Hot Area)

Best time to invest is during recession. Don’t wait for things to get better, you may not get any of these at the quoted prices by then.

Inbox or call or chat me on 08028395824 if interested.

Thank you.

Happy Democracy Holiday.