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For The Anxious CEO: Business Planning Tips for Any New Year

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By ‘Muyiwa Osifuye

Just before a new financial year, many CEO or business owners may start becoming restless and apprehensive. You want to make effective business decisions for the New Year. You are not alone.

This is irrespective of whether your organization has posted good financials in the outgoing year or not. The bulk stops at your table for the next cycle of things. You should desire a more successful outcome of the expectant year.

I am going to take you through some basic steps you can take; to remove the cobweb of anxiety from your mind.

Of course, here, I am not talking about the “new year resolutions” yearly fad. Serious minded and realistic executives don’t have anything to do with that.

Spelling out new business goals must be close to being realizable and practical; that is what you want to achieve. And to a large extent, acceptable to all stakeholders.

As a business leader or the Chief Executive Officer, you know that you must put in place an effective strategy for the coming – financial year. (January of a new year is the most popular starting month but not necessarily so for some companies.)

Yours could be a multinational or a localized business. Or you could be the owner and manager of a solo effort of an enterprise – established to serve within your community. Decision making still boils down to clear insight of leadership into the future.

One of the many things that will be coming to your mind is how to do better than in the previous year. All shareholders, your team, workforce and the board look up to you for leadership, direction and execution.

And if yours is a big company, after all the dreary crisscrossing meetings, the buck still stops at your table. And you must come up with a fresh and an effective decision plan – at the twilight period of the outgoing year. And plans must be executed, once the new financial year starts to unfold.

So what are you thinking of now?

What are you going to do differently and better than the past?

How are you to make a further positive impact on your organizations?

These following thoughts may cross your mind: 

  • You might be contemplating looking around for some “business decisions models”. The ones you can copy. Of course that won’t give you a unique solution.

  • You might also be looking around to see how other executives in your situation have done well for their corporation. But you will not be privy of the little details, as those are the secrets buried in such organizations.

  • And sadly, if you are quite egocentric, you might be looking around for information for your own selfish sake but not for the improved fortunes of your organization. Here, you could be daydreaming of the beaming smiles and applause you could get from your board and other stakeholders. That might become an illusion if your organization misses the mark of success ultimately.

At this crucial time, think about your organization first! That would be the way to go.

Here, I simply want you to open your mind to the power you have…residing inside of you.

You know your organization better and therefore you need to excuse your self-doubt if any. Suggestions from “guru” may not take you far. There is much more to your organization – those little nuances that you and no other person can know unless they are aware of these details.

Now, the question is, what is your mind telling you?

Agree we must learn from others but if you suffuse yourself with so much available information out there, you will most likely be overwhelmed. In effect, your strategic plans might be seriously flawed within the short time frame you have.

You simply need to be confident that you have most of the resources you need. The intellectual contribution from your smart senior executives including some junior ones can help.

Your vast experience would give you the confidence to make better business decisions yet again.

Accept that you can make things work and meet the expectations of the various stakeholders – within the organization and outside of it. And of course you must not lose focus on your shifting consumers’ needs, as the years rolled by.

You will know.

Why?

Because, being a dynamic soul and a hands-on Chief Executive; you have over the years learned the ropes. You have keenly observed both consciously – and otherwise – as you went through the ranks.

You have studied the past and gained relevant knowledge of your industry. All these varied experiences in play have coached your subconscious.

Your past failures, mistakes, ingenuity and successes are available to be tapped into. Only if you ask your inner-self.

I will admit; it is a painstaking exercise that needs a timeout; to sieve out and put things together properly. That’s what successful leaders are doing. That is the secret. There is no Superhuman CEO.

And remember your gut feeling which can override notions and researched outcomes.

Having cleared out your inner doubts, you can now proceed as follows.

Be ready to put pen to paper.

  • Before you do this; if your schedule could allow it as you prepare for another year, set aside a week or less to think through all issues in front of you.

Paint a total picture of varied influencing factors that must be addressed and utilized so that your organization and you can make a headway.

At this phase, you may jot down some points. Or leave the thoughts playing out in your mind for a while; nothing elaborate at this time, but they must eventually be written down when you are ready to come up with your own “business decision making” template.

  • You may give a shout-out to a few but trusty subordinates or whoever you safely think will give you an input to make a few adjustments. But remember the buck stops with you as the Chief Executive Officer or Managing Director. The final decision is your responsibility.

  • When the time is right and you are ready for the first draft, these thoughts will come back in torrents. Your mind is already turgid and so you write them down. Thereafter, you will smoothen all the rough edges. It will never be perfect. But let your plan be an informed decision and timely.

  • If this exercise is applicable to you, you will call up a meeting with your team or board to explain your direction for the New Year. If you don’t have anybody to report to, you’ll take the plunge yourself.

I can assure you, you will have ample confidence and sense of purpose displayed when you marshal your plans to your team.

  • Be mindful of the fact that there will be some advice from some board members. They could disagree on some issues but do take such into consideration. You may learn from them. And some inputs may not be useful since a few would speak, based on the spur of the moment.

You will have to convince them otherwise as you had ample time to think through these issues prior to the meeting.

I advise you to envisage many of such objections or additions when preparing your template.

Give room for the rabble-rousers. You may not ignore them all the time. Their contributions may be providential. Note their suggestions; but verify their submissions.

  • Be on your guard not to disregard everything in your earlier well thought-out plan while hearing out submissions from your team or board. Realize all business decisions are risks including these external suggestions.

So after the meeting, the buck stops at your table. Follow your notions and instinct and execute your adjusted decision making template. Then you are good to go for the New Year or the new financial period of your company, as the case may be.

  • Muster a heavy dose of courage and fine-tune your plans when necessary during the implementation phase. There is nothing to be ashamed about in adjusting your template in due course of the year. Circumstances do crop up beyond any man’s wildest imagination.

However this is not to make you become too rigid or egocentric.

A smart Chief Executive should ascribe a feeling to himself or herself that he or she does not know it all. But be equally firm about your vision while still being a team player.

There will be situations where you can never see the back of your head. Someone will need to help you out, at these times.

  • Above all, let your decision making have a room for Plan B; a contingency of sorts to minimize risks.

This aspect might not be too detailed. The truth is; it is mentally exhaustive enough to come up with an original well thought-out plan, yet to be bothered about a second option.

But try to give a thought to what might not work. And put up contingency plans to ameliorate this IF they do occur. That would readily eliminate the apprehension and procrastination in your mind to act on your first template of decisions for the New Year.

Finally

Eliminate your fears and doubts. Take solace in that; no decision making is ever perfect. Modifications will still be made during months of execution.

Determine your expectations. Give cognizance to the usual, namely: resources, challenges and opportunities within and outside your organization. You will be looking out for all the attributes of the local, national and global factors as they affect your manpower, your company and your industry.

Highlight your objectives and goals. Determine the time frame you must finish with your robust plan. After all the turkeys, chickens and sumptuous end-of-the-year dishes, you must find a place to carry out this meditative planning.

Put flesh to your highlights within a day or two after writing them out. Determine the date when you must finish it. Then you can come back and write and adjust the final thoughts you have penciled down.

All the past resources you have read; books, experts and successful business leaders, the multiple opinions at board and staff meetings would have worked on your thoughts to complete your action plan.

Having done that. You now have your own unique but effective business decision template for the New Year.

Mistakes would be made: successes would also be recorded.

Go for it…

Happy deliberation.

Happy New Financial Year!

‘Muyiwa Osifuye is the CEO of Stom & Ruby Services (Management Consulting/Business Advisory), Lagos. Visit www.muyiwaosifuye.com to read about how we can make your organization perform better… Call Now for our services +234(0)802 317 9969, email us to get other useful updates at [email protected] and [email protected].

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Reflection on Groups’ Kindness to Alidinma Mixed Secondary and Ute Okpu Grammar Schools

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Alidinma Mixed Secondary

By Jerome-Mario Utomi

This piece was inspired by two separate but related events; the first has to do with the news report that Dr. Philomena Onoyona Foundation, in line with its vision of giving unwavering commitment to education and community development, recently made a strategic visit to Alidinma Mixed Secondary School in Agbor Alidinma in Ika South Local Government Area of Delta State, where it donated learning materials worth thousands of naira to the students.

The second and closely related to the above centres on the revelation that the Ute Okpu Community in Ika North-East Local Government Area of Delta State recently came alive as the 1990 Set of Ute Okpu Grammar School Old Students Association celebrated its annual reunion with a series of social responsibilities aimed at giving back to the society.

These activities, programmes and initiatives include but are not limited to; deworming of children aged 10 years and below, payment of tribute to the unsung heroes of Ute Okpu Grammar School, presentations of lecture series, bestowing of awards, testimonials, plaques and cash gifts on the school’s outstanding/dedicated teachers, staff, and alumni in recognition of their tireless efforts and unwavering commitment, and unrelenting passion for education.

At a glance, the above show of love by the Foundation and the Old Students Association portrays a bunch that recognizes Social Responsibility as an ethical framework in which individuals or corporations must act in the best interests of their environment and society as a whole, fulfilling their civil duty and taking actions that are beneficial to both the present and upcoming generations.

Beyond the donations, worthy of mention are their messages of hope and resolve to continually support both the present and future students within the state and beyond.

Take as an illustration, Dr. Onoyona underlined that the latest visit and donation of learning materials to the students of Alidinma Mixed Secondary School is the foundation’s way of raising from our community, academically strong and well-informed youths that will provide the future leadership needs of our nation as well as compete favourably with their counterparts abroad’’.

The Nigerian-born and U.S.-based social worker and advocate while calling on other well-meaning and quietly influential Nigerians to team up in her current quest to uplift less privileged and vulnerable youths out of poverty and illiteracy, added that this benevolent outreach which focuses on empowering students through provisions of essential educational materials such as school bags, relevant books, pens, and pencils, among others will continue and be extended to other schools within Delta state and beyond to equip the students with the tools needed to excel academically and inspire a brighter future.

In a related development, Speaking via a statement signed by one of the leading members, Chukwuka Justus Iwegbu and titled; The Spirit of Giving Back to Our Community and Alma Mater: A Tribute to the Unsung Heroes of Ute Okpu Grammar School 1990 Set Old Students Association, the Ute Okpu Old Students Association explained that the event which took place at Ute Okpu Unity Town Hall was a testament to the enduring spirit of the alumni association and its commitment to recognizing the contributions of its esteemed members.

“One thing that brought us together after so many years of leaving our alma mater is unity and love. We may not bother ourselves with the sung and unsung stories because we have a whole lot of members who believe in an unsung story of positive contribution and impact on the lives of others. Remembering our roots remains our major mandate and a call to duty.

“The Ute Okpu Grammar School Alumni Association, 1990 set, is committed to giving back to our alma mater and the Ute Okpu community. We believe that education is the key to unlocking the potential of individuals and communities, and we are dedicated to supporting initiatives that promote educational excellence and intergenerational change,” the statement concluded.

Without a doubt, it will be convenient for many to argue that there is nothing philanthropic to attract media coverage of such a low-profiled donation of learning material, particularly as the value of the donation in question is not measured in billions of Naira.

For me, there are lessons to learn from these groups and every reason to celebrate their actions.

First and very fundamental is the hidden truth that members of these groups are not in absolute terms wealthy, particularly going by Nigerians’ context and definition of riches but were predominantly fired by the burning desire to uplift the life chances of the poor and vulnerable in their environment through educational support.

Regardless of what others may say, this piece holds the opinion that these morally eminent men and women made donations to schools not only as a positive behavioural culture but largely in recognition of the time-honoured aphorism which considers education as the bedrock of development; that with sound educational institutions, a country is as good as made -as the institutions will turn out all rounded manpower to continue with the development of the society driven by well thought out ideas, policies, programmes, and projects.

Their action equally symbolises a bunch in consonance with the fact that it is our collective responsibility to ensure that our schools work and our children are properly educated at the right time.

With their culture of donating to the students’ welfare and comfort, the group, in my view,  amplified the notion that children enjoy the right to education as recognized by a number of international conventions, including the International Covenant on Economic, Social and Cultural Rights which recognizes a compulsory primary education for all, an obligation to develop secondary education accessible to all, as well as the progressive introduction of free higher education/obligation to develop equitable access to higher education.

We must also not fail to remember that a few years ago, the National Human Rights Commission (NHRC), in line with its mandate to promote and protect human rights, established the right to education as a thematic area of focus to drive its vision of having all children enrolled in school as well as to ensure that the culture of human rights is promoted and maintained in schools.

One common fact we must not shy away from as a people is that the crushing weight arising from education funding in Nigeria and globally has become too heavy for only the government to shoulder and that is another reason why the intervention/donation by these groups is most profound.

As we celebrate these uncommon efforts, the lesson we must all draw from the example of these groups is that it is time for all to collectively find creative and sustainable solutions to educational provision for all in Nigeria, especially for the children of the poor and lowly as these children deserve the right to hold all of us accountable.

If we fail to provide this traditional but universal responsibility to these children, their future will hang in the balance as a result of such failures. And chances are that most of them will run to the streets. And, as we know, the streets are known for breeding all sorts of criminals and other social misfits who constitute the real threat such as armed robbers, thugs, drug abusers, drunkards, prostitutes and all other social ills that give a bad name to society.

Utomi, a media specialist, writes from Lagos, Nigeria. He can be reached via [email protected]/08032725374

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Ways to Stick to Your New Year’s Resolutions Without Breaking the Bank

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Embarking on a new year often involves setting ambitious resolutions – a global tradition of striving for personal growth and positive change. We vow to eat healthier, exercise more, learn a new skill, or take on challenging DIY projects. However, as the initial enthusiasm wanes, some resolution may only fall by the wayside.

To enhance your chances of success, let’s delve into some common resolutions and explore key tips that will empower you. This includes setting clear and achievable goals and utilising tools that will equip you for the journey towards achieving those aspirations.

1. Enhancing physical wellbeing: Losing weight or improving fitness often requires a lot of different things working together. To support your efforts, consider utilising tools such as smartwatches to track progress, resistance bands for strength training, and cardio equipment like an exercise bike or treadmill. For home workouts, invest in dumbbells, kettlebells, and a yoga mat. A food scale can aid in portion control. You can also stay motivated by wearing nice workout clothes that makes exercise more fun. These products are all available on Temu, a direct-from-factory marketplace offering year-round deals to help you achieve your New Year’s resolutions.

2. Cultivating healthy eating habits: This often involves prioritising whole foods, minimising processed foods, and increasing fruit and vegetable consumption. To simplify this journey, consider investing in helpful kitchen tools. A food processor can streamline meal prep, while an air fryer offers a healthier cooking alternative. A slow cooker is perfect for effortless and flavourful meals, and a vegetable spiraliser can make eating vegetables more enjoyable.

3. Prioritising stress reduction and wellness: Prioritising wellness is crucial for overall well-being. To reduce stress and feel better, focus on mindfulness practices like meditation or yoga and spend time in nature. Improve your sleep habits. Helpful tools include essential oil diffusers to create a calming atmosphere, weighted blankets for relaxation and comfort, stress balls to release tension and improve circulation, and noise-cancelling headphones to block out distractions.

4. Trying out a side hustle to diversify income:  Becoming a social media content curator, for example,  is a rewarding pursuit in Nigeria, however, it requires careful planning and execution. Defining your niche and identifying reliable sources of content are crucial first steps. A strong technological foundation is essential for success. This includes a reliable computer or mobile device, a stable internet connection, and specialised software for editing (video, audio, and image). Investing in affordable high-quality recording equipment, such as cameras, is crucial for capturing professional-looking content, while good lighting is essential to enhance its visual appeal.

5. Strengthening personal relationships: This is a valuable resolution that can enhance our well-being and strengthen our relationships. In today’s busy world, it’s easy to let the demands of daily life overshadow meaningful connections. To make this resolution a reality, consider scheduling regular family dinners, planning weekend outings, or dedicating specific times for uninterrupted conversations. Remember that quality time is key; put away distractions and truly engage with your loved ones.

6. Contributing to the community through volunteering: Volunteering your time to a cause you believe in is a rewarding way to make a difference in your community and the world. Find a cause that resonates with you and explore opportunities within your local area. Start small and gradually increase your commitment. Remember that volunteering is a two-way street; it not only benefits the organisation but also provides you with a sense of purpose and fulfilment.

Consistency and adaptability are key to achieving your New Year’s resolutions. Celebrate your successes, be patient with yourself, and don’t hesitate to adjust your approach when needed. Platforms like Temu can be invaluable allies, offering a wide range of affordable products to support your goals. From fitness equipment to kitchen essentials, Temu can effectively equip you without straining your budget.

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Unlocking Full Human Potential: Growth, Diversity, and Purpose

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In Nigeria’s diverse workforce, the conversation around diversity and inclusion (DEI) extends beyond gender to address tribal diversity, socioeconomic representation, and other cultural nuances. Policies that promote inclusivity are crucial for fostering collaboration in Nigeria’s multicultural corporate environment.

“An organisation is only as good as its people. Ensuring those people perform to their best is the role of human capital. Today, the field has a range of tools to ensure real-time engagement and agile interventions for optimal job satisfaction and performance”, – Catia Teixeira, MultiChoice Africa Holdings Group Executive Head of Human Capital.

In both our professional and personal lives, we all strive for growth and development. These opportunities are deeply rewarding, supporting the kind of self-actualisation that makes life most fulfilling. In the Nigerian workplace, where career growth often intertwines with societal expectations and the drive for self-improvement, human capital plays an even more significant role. Opportunities to grow are not just fulfilling but are deeply rooted in our collective ambition for a better future.

Employee engagement is a reflection of how actualised individuals feel in their roles. Engaged employees are more likely to perform at their peak and contribute positively to the workplace. In Nigeria, where the “hustle culture” is celebrated, organizations must create environments that not only nurture growth but also recognize and reward the efforts of their people.

When employees feel enriched and their work aligns with their aspirations, the results are transformative. Growth and development are not just personal milestones—they are the foundation of a thriving organization and, by extension, a more productive society.

Identifying Growth Opportunities

In every workplace, some employees stand out from the first day, while others take time to grow into their potential. Talent management processes must cater to both. For instance, a twice-yearly organizational talent review can help Nigerian companies identify where employees excel and where they need support.

Interactions within the workplace also play a crucial role. In Nigeria’s highly networked professional landscape, creating opportunities for cross-departmental collaboration can open new doors for employees. Systematic development plans, supported by tailored training, ensure that these opportunities translate into tangible growth.

Take the MultiChoice Academy, for example, which offers over 4,000 online courses spanning finance, HR, marketing, and other fields. This mirrors the Nigerian appetite for continuous learning, especially as industries rapidly embrace digital transformation. While face-to-face training remains valuable, customized e-learning platforms are pivotal in bridging knowledge gaps and preparing employees for the future of work.

For any training program, balance is key. Organizations must align employee development with business goals while ensuring individuals feel empowered to pursue their aspirations. In Nigeria, induction programs that connect new hires with company visions and purpose are critical to building this alignment.

One of the most rewarding aspects of human capital management is witnessing success stories unfold. In a country like Nigeria, where talent is abundant, but opportunities may be unevenly distributed, developing talent internally can make a significant impact. Long-term employees bring invaluable institutional knowledge, and nurturing their growth ensures they continue to drive organizational success.

At MultiChoice, we are deeply committed to equipping our workforce with the skills and confidence needed to excel. Whether it’s training young leaders, empowering women in leadership, or developing heads of departments, every investment in our people enhances their value – as individuals and as indispensable assets to the company.

What Diversity Means

At MultiChoice, gender equity remains a key focus. Women make up 46% of our workforce, and 46% of leadership roles are held by women—a significant achievement in a society where women often juggle professional aspirations with traditional family roles. Our promotions policy is designed to push these numbers to 50%, ensuring equity across all levels of the organization.

When entering new markets, MultiChoice intentionally applies its culture of inclusion, empowering women to excel in leadership positions. This commitment extends to addressing barriers unique to Nigeria, such as access to resources and mentorship for women in underrepresented fields.

Data Drives Change

To drive meaningful change, data is indispensable. Nigerian companies often face challenges like high employee turnover and workplace inefficiencies. By leveraging data, organizations can address these issues strategically.

MultiChoice uses platforms like Office Vibe to generate insights into employee engagement, satisfaction, and work-life balance. Weekly surveys and random polls provide actionable feedback, enabling quick interventions and fostering a culture of continuous improvement.

In Nigeria, where trust in leadership significantly influences workplace morale, data can also help bridge gaps between management and employees. Regular focus groups, coupled with robust analytics, ensure employees feel heard and supported. When organizations align employee needs with business goals, the result is a workforce driven by purpose and achievement.

The Collective Goal

In Nigeria, where community and collective growth are deeply valued, human capital strategies should emphasize the power of shared purpose. By investing in people, organizations contribute to a larger vision of national development.

At MultiChoice, every success story is a testament to this philosophy. From training young leaders to empowering women in leadership, the organization demonstrates that growth is a journey best undertaken together. For Nigeria, this represents a powerful blueprint for building a future where individuals and organizations thrive in harmony.

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