Jun 23, 2015 - Uncategorized    No Comments

DON’T BE TOO BUSY! BE PRODUCTIVE!

One the most sincere truth I heard last year is that the 24 hours in day that is available to all of us is enough to do whatever we want to. To validate that statement, think of the reason successful people achieve all that they achieve within the same time frame that is available to all.

A highly creative or successful person is never too busy. All the creative people that I know and respect are doing more things in a day than most people do in a week or probably a month. In fact, you will never hear say I’m too busy. Most of the time, the people who form I’m too busy are not actually busy all. They are just filling their time with activities (non-productive) to hide insecurities. Go check them out, their result will speak.

In this digital age, their too many stuff that is hustling for our attention. Some of us receive more than 100 mails in just one day, all the social media that catches our interest are enough of distractions but it depends on how we manage this, we are provided with more time than we could ever imagine. I personally think it is our perspective of productivity and orientation of driving results that come to play here.

forming busy

With the emergence of the digital age, there a lot of tools that are available to get things done faster and gain extra free time to get more done. Before google, you have to drive may be 20 miles or more to a library to get information or just to look up a fact. But nowadays, you can do that within seconds by just holding down a button on your phone. The extra time we gain from this should be filled with other things, but you still find people complaining that there aren’t enough hours in a day and there days filled to the brim. I don’t think we should never actually be too busy.

Yes, we usually have our peak period with so much activity sometimes but it can’t be all the time. Even at this period, we find ourselves doing some mundane work that we don’t want to be doing per se and which can be automated to save more time. If the work you are doing makes you feel busy, then the work you are doing doesn’t truly matter to you. Work worth doing isn’t busy work.

So even if you have you have your to-do list very full, and you are feeling too busy, take a break to assess your current situation. If you are honest with yourself, you will need to make some changes. The work that will fill your time would be the ones that bring new opportunities and fulfilment without necessarily becoming overwhelmed with busyness.

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Jun 20, 2015 - Uncategorized    No Comments

THE DIGITAL CFO

This digital age has changed the priorities and roles of nowadays finance executives. Before now, the major role of a CFO is overseeing accounting practices. Though most CFO are still concern about finding new sources of revenue and reducing costs, a fresh desire of exploring new opportunities for growth is emerging. The role of today’s finance executives and CFO is becoming broader and it’s definitely require more technological advancement in tune with most area of development.

The shifting role of the CFO isn’t just channelled towards the technology circle though, the emergence of big data and analytics has created a huge pool of resources that is not previously available which business leaders can make more informed decisions and also have obvious impact on the business.

the digital CFO

As a professional in finance, you need to create an instant access to the insights necessary to assist other business managers make sound business decisions which is capable of driving corporate performance. The tools you need to do this must be able to churn the big data numbers, process massive quantities of information, access, query and visualise the data and share it to the necessary users. In addition, irrespective of the industry, these tools should be intuitive, scalable, and easily integrated into the finance executive’s daily work. Tools that enable revenue growth by evaluating and responding to market opportunities real-time and also have instant access to visual data on any platform.

Excel has been the traditional tool of choice for most day-to-day projects and it is becoming more powerful by its ability to take millions of rows of data and convert it into touch-enabled, interactive visual data that can be embedded in Power-Point. And it can also be integrated with many popular business intelligence tools with the ability to anticipate business needs, staying ahead of costly incidents like unexpected maintenance and business downtime for customers. It is changing the way that finance professionals do their job while driving the transition from controllership to stewardship.

In addition to collecting and analysing the massive amounts of corporate and customer data available, another trend among finance executives is to embrace cloud technologies to create a single, integrated view into the organization. In today’s on-the-go world, employees must be able to take action on ideas and opportunities from anywhere and connect socially with customers, partners, and vendors to anticipate and respond to their needs. The rise of digital technology affects every executive in today’s modern enterprise, but perhaps no role is impacted more profoundly than that of finance.

With the continuing evolution of the role of finance professionals, many financial leaders are now tasked with balancing the traditional job requirements of accurate and timely financial reporting with new necessities, including setting the strategic technology direction of the company, discovering insights in a deluge of data, and driving corporate performance through the use of technology.

By implementing key technologies in the areas of business intelligence, cloud, mobile, social, and productivity, the role of today’s finance professional evolves from balance sheet manager to strategic leader. Finance executives today are in an unprecedented position to help their companies achieve their goals for profitability, growth, and productivity by using technology as a business priority, both strategically and tactically.

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May 18, 2015 - Uncategorized    No Comments

GROSS DOMESTIC PRODUCT (GDP); MEANING, PRATICAL ECONOMIC IMPLICATION AND IMPORTANCE

From Archive…..

You must have seen it in the news earlier this week the announcement of the tremendous increase (almost doubled) in the Nigeria’s Gross Domestic Product (GDP) by the National Bureau of Statistics. Even though economist and analyst have disagreed in this new figure, it is long due on the basis of which NBS calculated it. The announcement will also have some practical implication on the Nigeria economy whether, the figure is window dressed as believed by some citizen or not. One of the implications includes the psychological impact on foreign investor. But this is not my focus in this post today; I will look at the implication in details in my next post or the one after my next.

gdp

Today’s post will be focused on the practical meaning of Gross Domestic product (GDP) as the most important macroeconomic indicator and why it is so important in a non-technical language. My   aim of doing this is for you to understand what this figure usually reported in percentage really mean before you make comments or form an opinion on the announcement by NBS.

GDP is what I can also describe as National Output referring to the total amount of goods and services a country produces in monetary terms (Naira value). This figure is like a snapshot of the economy at a certain point in time. It (GDP) is one of the primary macroeconomics indicators to measure the health and wealth of the country’s economy – you may also say is the size of the economy. GDP is usually expressed as a comparison to the previous period such as quarter or year. For example NBS announced a rise in GDP from $270bn to $510bn which represents 89% increase; this means the economy has grown by 89% over the years.

Measuring GDP is complicated (which is why we leave it to the economists), but from a lay man’s perspective, the calculation can be done in one of two ways: either by adding up what everyone earned in a year (income approach), or by adding up what everyone spent (expenditure method). Logically, both measures should arrive at roughly the same total. Since it is assumed that what you earn is what you spent apart from savings.

When referring to GDP, macroeconomists tend to use real GDP, which takes inflation into account, as opposed to nominal GDP, which reflects only changes in prices. The nominal GDP figure will be higher if inflation goes up, so it is not necessarily indicative of higher level of output only by higher prices of goods and services. So I am only referring to real GDP in this post.

The one demerit of the GDP is that because the information has to be collected after a specified time period has finished, a figure for the GDP today would have to be an estimate. Once a series of figures is collected over a period of time, they can be compared over periods. Of course; these figures can be compared across economies as well. Hence, we can determine which foreign countries are economically strong or weak.

Based on past figures, analysts and investors can then begin to forecast the future state of the economy which can also be use for the basis of business and investment decisions. It is important to remember that what determines human behaviour and ultimately the economy can never be forecasted accurately.

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May 8, 2015 - Uncategorized    No Comments

FATHERHOOD

For most of us, one of the things that make us happy in life is having a child. Especially in this part of the world, where children are considered to be the fruits of marriage and source of joy for a couple, which even becomes a problem when a couple is married for sometime without an issue. It is indeed such a big blessing to be a parent. Ask those who are not blessed with children or who lost their child to an illness or accident, and you would realize that being blessed with a child is a blessing.

In the past 11 month I have experience what it feels like to be a father – a responsible one for that matter – and I am enjoying big time because I have learnt and still learning a lot and exposed to new perspective about life. Fatherhood has open up for me a new window of a purposeful life. I enjoyed going back home to see my son, and the joy I feel when I hold him in my arms cannot be infinitely quantified  to the joy I feel when I am expecting the bank credit alert for my 30-days labour.

The role of the father to me should be more than that of just finance (making the money available for the family) and administrative (pick and drop the child at school and such tasks). The father in spite of his busy schedule should be involved in activities such as care, discipline and communication with the child. It’s no gain saying that a father’s presence has a huge impact on the development and wellbeing of their child. All of the things that are presumed to be the mothers’ responsibilities can also be done by the father once in a while if time permit.

I have principles and plans on parenting our son which I will be working together with my wife on.  I did like to share some of the gems on the list that might benefit you:

  1. Teach him how important worshipping and prayer is.
  2. A one on one time with him often – this will ensure steady communication.
  3. Nurture a hobby with him especially the one he enjoys and picks early.
  4. Draw up a list of clear goals with him for all areas of his life.
  5. Schedule his week together with the family schedule.
  6. Read books with him including school work.
  7. Help him keep a journal of important activities daily.
  8. Always remind him of what makes him special.
  9. Have a daily commitment we do together.
  10. Let him know how importance and sharing and helping others are.

This is the top ten on the list, but I am sure updating it from frequently as situations permits. I hope I am not overhyping fatherhood, please don’t blame me if I do. It’s because I didn’t enjoy an iota of fatherly love so I promise to give my children all I can.  Please feel free to share yours in the comment below, if you have for others to learn. And if you don’t you really need to start consciously considering it.

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May 5, 2015 - Uncategorized    No Comments

THE 10 LEADERSHIP LESSONS I LEARNT FROM THE LION AS A KING IN THE JUNGLE.

I was watching the Nat Geo Wild Channel on Dstv and I saw the lifestyle in the Lion kingdom. It gave me a thought of leaderships lessons which we can learn from a lion been the king not just in the lion kingdom or the big cat family but the entire animal kingdom. These lessons are worth sharing.

  1. The Lion only hunt when there is a need for it (When it is hungry).

There must always be a “why” for almost everything decision you take and every action you do. It is this “why” that will keep you going even if things are working against all odds. Your reason is a motivating and it keeps motivating you to the end. Another lesson here is that being brave or being a leader does not mean you have to be looking for trouble or doing anything you want at the detriment of others.

  1. The Lion is Brave.

The quality that actually qualifies him as a leader in the animal kingdom is more than strength, size, fighting or hunting skills. The bravity of the lion is what earned it the king the animal kingdom. There are other animal with more strength, larger size, awesome fighting and hunting skills even faster but they aren’t as brave as the lion. This a great quality a leader should possess, you should brave to take decision without looking back as a leader.

  1. The gentility in its footsteps.

Have you ever wondered why the gentility in its footstep especially when it’s about to go after a prey. You don’t have to be a noise maker or rough before you achievement your goals as a leader.

  1. The succession plan in the kingdom

This is one of the great qualities I learnt when seeing that documentary. The cubs are taught all the qualities of a lion since childhood. Starting from how to relate with females and other males in the kingdom. And the most thrilling part is how it is left alone to live when approaching adulthood under the guidance of an adult but without it been aware. You need to have a succession plan for leadership post by training younger ones and subordinates and putting them to real life test under your supervision.

  1. The Lioness is responsible for hunting while the Lion protect the home.

A good leader must understand the importance of delegation of responsibility. You make use of the strength of every member of your team and delegate duties accordingly. Also, you must know your team member very well in order to achieve this.

  1. Confidence

A good leader must be confidence in himself and other team members. This is part of what is taught to the cub. And this is why it discovers its identity and potential at the very early stage. A leader must be able to discover his strength with a high level of confidence.

  1. Discipline

This is important in not just in every social group or institution but in the inner self of a person. It is amazing how the lion as a leader disciplines the cubs when they mess up and mess around in the kingdom. This can only be achieved because it is discipline himself. No wonder he does not just go for anything that comes it way.

  1. He can spent 20 hours of sleep a day

Isn’t that surprising to know? Even with all the responsibility that the lion shoulders, it still find time to sleep this long sometimes. You don’t have to be a workaholic to be a good leader. I am sure you have heard about the slogan that says, “worker smarter not harder”, that says it all.

  1. Lion rarely eats entire prey

I have always believe one of the formula for having more is giving (sharing), I never knew it’s a good leadership quality. Now I learnt this from the lion as it rarely eats its entire prey, there are always leftovers for the hyenas and the vultures. Even occasion where there is no leftover (which is rare), it is shares within the big cat kingdom.

  1. Relationship management

Lions are very social because they form groups within the kingdom known as pride. The lion also manages other animals in the animal kingdom, have ever wondered how other are kept quiet and put to orderliness with roar sound. This is to me the most important lesson quality I figured out here.

I hope you have learnt at least one or two lessons from this post. Let me know which one it is using the comment box.  Also, you may add more lessons you have using the comment box below.

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