Business
Business is about networking
Published
7 years agoon
By
The Post
To succeed in business you need to develop relationships. Life has taught us that to be successful in life or in business it’s not how much you know but how much you have managed to relate to other people. God has made us in such a way that we need to lean on each other.
Making connections and maintaining relationships with the people who support you throughout your career can be the key to success for most individuals.
You need to build a network of friends, colleagues, business associates whom you can call upon for help. We are often reminded that we should not burn bridges. Maintain your contacts with your friends, school mates and business associates; you don’t know when you will need them.
Mike Davidson once said “It’s all about people. It’s about networking and being nice to people and not burning any bridges.” Your helpers in life might come from your previous relationships at work, from a conference or from a business dinner.
A network has been defined by The Oxford Dictionary as, “a group of people who exchange information, contacts, and experience for professional or social purposes.” Networking is building relationships before you need them. The relationships you build now can usher you to greater heights in the future.
In our interaction with people we have built a lot of contacts, some of which we will never get in touch with but with others we develop relationships with. You need to interact with these people you build relationships with to benefit from your network.
Nowadays it’s very easy to build networks because of the digital age we are living in where social media networks dominate our lives. This is one way one can build networks. Face to face networking however still is the most trusted and tested way of building relationships. The places you can network face to face is at “networking” events, conferences and social gatherings.
Many people tend to view conferences as an opportunity to only learn about new products, technologies or companies, but ignore that it’s also a great networking opportunity. It’s important to spend some time before attending a conference to be able to research the speakers and attendees online and see those who you will be most interested in talking to or listening to.
Make sure you build productive relationships. At the conference itself make sure you get business cards from those you have targeted to talk to and follow up with e-mails after the event to start a relationship. Specialists in networking have said that effective networking is all about the people you know and meeting new people through other people. Your network is only as strong as the way you manage it. If we need to grow our business and be successful in life we need to build lasting relationships.
Isaac Newton once said “If I have seen further than others, it is by standing upon the shoulders of giants.” You are not an island you need others.
As we network we need to bear in mind the objective of networking, which is to help you make new contacts, build effective business relationships and build awareness of your business’ products and services.
As a business person you need to exploit every encounter with new people. Networking opportunities appear everywhere so be prepared for business networking at all times. You should carry your business cards and ensure you have developed a succinct, brief introduction of yourself and your company that summarizes who you are and what you do.
This is an ‘elevator pitch’ which you will use when you meet a potentially important contact for the first time at a conference or event and you have to introduce yourself and leave a lasting impression on that person for him to want to contact you later with a business proposal or to get further information.
When you exchange business cards with the people you meet take notes about the person giving you business cards so that you are able to contact them back. You need to take a few seconds to jot down a few points about your new contact so that this will trigger your memory about your discussion topics when you follow up later.
Whenever there are conferences for your industry, endeavour to attend such because this is where you will meet people that will add value to your profession and business.
To make the most of such an event don’t spend too much time with people you know only, move around and mix with other participants and introduce yourself, making sure each encounter is productive and beneficial to both of you.
Pay attention to what the other person is saying. Don’t be distracted by other people you would like to see. Make your “elevator pitch” and encourage the other person to talk as well.
You need to use listening skills. Give the other person your full focus until you have finished discussion then you move to your next contact.
The key to every fruitful networking encounter is to ask questions. By so doing you can learn valuable information you can use to help build your business. Questions can range from what challenges your contact’s business or industry is facing and offer how you can offer solutions, if you have the skills.
Doing this will make them open up and they will begin to discuss their business and which this gives you the opportunity to learn about potential partnership avenues you can approach in the future. It is imperative that you always follow up on your new business contacts with a phone call, an e-mail or a letter. Make sure that you do personalise your communication and refer to the event you met so that it’s a reminder to the other person.
You can use this opportunity to invite the person for lunch, a social meeting or a business meeting. The whole idea is to reconnect with previous contacts.
Networking is the single most powerful marketing tactic to accelerate and sustain success for any individual or organization. Networking helps you to learn the dynamics within your industry much faster by relating with new established contacts.
Networking will open one to new career opportunities and can also accelerate your professional development and above all can open up a customer base for your business.
Stewart Jakarasi is a business and financial strategist and a lecturer in business strategy and performance management. He provides advisory and guidance on leadership, strategy and execution, preparation of business plans and on how to build and sustain high-performing organisations.
l For assistance in implementing some of the concepts discussed in these articles or for strategy facilitation please contact him on the following contacts: sjakarasi@gmail.com or +266 62110062 or on WhatsApp +266 58881062
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Press release for KFC Lesotho
Date: Monday, 16 December 2024
Summer, what a wonderful time of year…
When influencing gets too much
When the news cycle gets too much
When the endless queues get too much
When the shopping chaos gets too much
When the unavailable transport gets too much
When the holiday work shifts get too much
When the lawn mowing gets too much
When the loud music gets too much
When the traffic gets too much
When the relentless schedule gets too much
When the heatwaves get too much
When the weather warnings get too much
When the suntan lines get too much
When the ever-growing laundry pile gets too much
When the festivities get too much
When the 2025 university applications get too much
When the guests overstaying their welcome gets too much
When the social media mayhem gets too much
When the out of sync traffic lights get too much
When the New Year resolutions get too much
When the travel expenses get too much
When reapplying sunscreen gets too much
When the packing and unpacking gets too much
When the photo-taking gets too much
When the flies get too much
When the pool maintenance gets too much
When the fully booked airlines get too much
When the mosquito bites get too much
When the fishing trips get too much
When the baking gets too much
When the road trip stops get too much
When the sand in the car gets too much
When the picnic ants get too much
When the papa and morogo get too much
When the braai smoke gets too much
When the television shows get too much
When the homemade cooking gets too much
When the hot car seats get too much
When the outdoor markets get too much
When the air-conditioning bills get too much
When the nature hikes get too much
When the garden-watering gets too much
When the hot sidewalks get too much
When the bike rides get too much
When the late nights get too much
When the impromptu trips get too much
When the 4×4 rides get too much
When the golf games get too much
When the ice cube trays get too much
When the late-night crickets get too much
When the entertaining gets too much
When the bumpy boat rides get too much
When the paddleboarding gets too much
When the public pool crowds get too much
When the lack of parking gets too much
When the summer internships get too much
When all you need is a breather
You have made it to the end. Take a break from summer with KFC Lesotho on Saturday, 21 December, a day to pause, refresh, and savour the start of holiday mode. Swing by KFC for a taste of summer and officially step into the holidays, recharged and ready. See you there!
Discover KFC’s Summer Delights!
KFC Summer Twisters: https://www.youtube.com/watch?v=LVlAX00WROU
KFC Summer Krushers: https://www.youtube.com/watch?v=QpCn-tFYrls
KFC Summer Buckets: https://www.youtube.com/watch?v=SbiOjRR58UA
End.
About KFC Africa
KFC has been in South Africa for over 53 years and has more than 1,300 stores across the country. The first KFC restaurant in South Africa opened in 1971 in Orange Grove, Johannesburg. KFC is the leading quick-service restaurant brand in South Africa with just under a third of market share, according to Brand Image Tracker. KFC serves more than 20 million customers a month and we work hard to ensure that no matter which of our restaurants they walk into, they will get that distinctive KFC flavour and have a great experience. KFC’s Original Recipe® Chicken was first made by Colonel Harland Sanders in 1940 when he perfected his secret recipe of 11 herbs and spices at his restaurant in Kentucky. Today, KFC is the world’s most popular chicken restaurant, still preparing our chicken with the Colonel’s secret recipe to his exact standards. Every KFC restaurant follows the same global processes and procedures to ensure that our customers get great-tasting food, every time.
KFC Lesotho socials:
Instagram – @kfclesotho – https://www.instagram.com/kfclesotho/
Facebook – KFC Lesotho – https://www.facebook.com/LesothoKFC
X – @KFC_Lesotho – https://x.com/KFC_Lesotho
Business
Demystifying death benefit nomination
Published
1 month agoon
December 16, 2024By
The Post
I recently attended a trustee training session, and it sparked a thousand of opinions and emotions to fellow trustees and principal officers.
It is remarkable how people approach their pension funds with a blend of care and chaos — carefully watching contributions grow but leaving the aftermath of their departure to luck and a roomful of trustees.
With the Pension Fund Act (PFA) 2024 in place, requiring members to fill out and update death benefit nomination forms annually, one would think the process is foolproof.
Yet, we find ourselves navigating the maze of member reluctance and the emotional minefield that comes with deciding who gets what.
The PFA 2024 makes an elegant appeal to order, asking pension fund members to take charge of their legacy by nominating beneficiaries.
But, instead of pens gliding over forms, there is hesitation, resistance, and in some cases, outright abstinence.
What should be a simple administrative act seems to invoke existential dread or, worse, familial politics.
When Nomination Feels Like Negotiation
One of the most notable trends is the discomfort married members feel at the mere suggestion of allocating 50% of their death benefit to a spouse.
For clarity, the PFA does not say they must — but logic and love might.
However, these conversations often spiral into arguments over “what ifs.”
What if the marriage does not last?
What if the spouse uses the money “irresponsibly”?
What if leaving an equal share to children or a secret favourite nephew makes more sense?
These “what ifs” often lead to another troubling “what if”: what if no nomination is made at all?
Emotions run high.
Sometimes, the process of completing the form turns into a reflection of unresolved family tensions, where the form itself becomes a battlefield for hypothetical posthumous power plays.
Trustees, meanwhile, are left to pick up the pieces, making discretionary decisions that almost always leave someone unhappy.
What the Law Actually Says
Let us address the elephant in the room.
The PFA does not dictate that anyone’s spouse, child, or distant cousin must receive a cent.
The law requires you to nominate beneficiaries but leaves the who and how much entirely up to you.
And yet, myths persist, leaving members to believe they are bound to make obligatory allocations.
This misunderstanding is not just inconvenient; it is entirely unnecessary.
The beauty of the PFA lies in its simplicity: nominate someone — anyone — so your trustees don’t have to piece together your
wishes based on tea leaves, distant
relatives, or that one time you mentioned something in passing to a colleague.
The Real Cost of Silence
If leaving decisions to trustees sounds romantic — think noble strangers making wise decisions — let me assure you, it’s not.
Trustees do their best with the tools they have, but without a completed nomination form, their decisions are guided by discretion rather than your explicit intentions.
And discretion, noble as it sounds, often breeds disputes.
Disgruntled beneficiaries are not just an unfortunate byproduct of silence; they are its loudest consequence.
Without clear instructions, your death benefits might fund lawsuits instead of legacies.
Is that truly the financial wisdom you have cultivated over a lifetime of disciplined contributions?
Completing the Form: The Act of Taking Control
Filling out the nomination form isn’t just compliance; it is an act of empowerment.
It’s the financial equivalent of saying, “I trust myself to make the best decisions for my loved ones.”
It’s an opportunity to assert control over your life’s earnings and ensure they benefit those you deem most deserving.
Let us put it plainly: by completing this form, you eliminate guesswork, prevent disputes, and protect your loved ones from unnecessary turmoil.
You also spare trustees from playing Solomon with your assets — a responsibility they never asked for but inherit when you opt for avoidance.
It is not that deep!
For all the effort we pour into overthinking, let’s consider the alternative — actually completing the form.
You’ve already made harder decisions, like choosing between investment portfolios or deciding on your retirement age.
Writing down a name or two, alongside their allocations, is, comparatively, a walk in the park.
And for those of you abstaining because “it’s complicated,” let us reflect: is it more complicated than the potential legal battles, heartache, and chaos that might follow your departure?
Or are we simply procrastinating because planning for death feels uncomfortably final?
Your Legacy, Your Way
At the heart of it all, filling out the nomination form isn’t about complying with a law or appeasing trustees.
It is about ensuring your legacy aligns with your wishes.
It is about giving your loved ones clarity and peace of mind when they need it most.
So, grab that pen.
Fill in that form.
It might not be the most exciting thing you do today, but it could very well be the most meaningful.
After all, if you’ve spent years building a financial future, why let your final act of planning be defined by inaction?
Teboho Makoetlane
Business
More US funding for development projects
Published
2 months agoon
December 2, 2024By
The Post
MASERU-THOMAS Hines, the US Embassy’s interim head, has applauded Lesotho for passing the Millennium Challenge Corporation (MCC)’s scorecard, paving way for continued development funding.
The MCC is providing assistance to Lesotho to strengthen good governance, economic freedom and investments in the country, managed by the Millennium Challenge Account (MCA-Lesotho Compact II).
The MCC donated US$300 million (approximately M5.4 billion) for health and horticulture development.
For the country to qualify, it had to pass the MCC’s scorecards.
Hines told Prime Minister Sam Matekane on Tuesday at the State House that the good news is that Lesotho passed, although there are some other things the country has to improve.
For this year, the passing indicators are girls’ primary education completion rate, natural resource protection, land rights and access and fiscal policy.
Indicators that slipped below the pass rate are government effectiveness and freedom of information.
“Of MCC’s 76 scorecards, only 26 countries passed while 50 did not and the good news is that Lesotho once again passed the scorecard,” Hines said.
He said not only did Lesotho pass but it has also improved from passing 15 indicators last year to 17 of 20 indicators this year.
Hines said the accomplishment reflects Matekane and his government’s commitment to strengthening democratic governance and fostering prosperity.
“Noting the decline in control of corruption indicator, we seek avenues to do more together with Lesotho to combat corruption,” he said.
“Not only does regression in this area put Lesotho at risk of failing the scorecard we also know the corrosive impact of corruption on the economy and society.”
He said they seek to maximise the compact’s ability to ensure greater access to quality healthcare.
Matekane said the scorecards assess the government’s performance in key areas throughout the year to determine the continuing eligibility regarding MCC compact funding.
He said last year he urged the cabinet to build on the momentum from 15 out of 20 indicators.
“Let me take this opportunity to celebrate our sustained achievement of passing 17 out of 20 indicators which is a 10 percent increase from last year,” Matekane said.
“Specifically, I committed last year to ensure that Lesotho will submit data to support the assessment of girl’s primary education completion rate,” he said.
He said he was pleased with the progress overall and on gender parity in education and they aim to achieve better results next year.
In addition to this, he said, there is still a lot of work to be done, especially around trade policy, government effectiveness and particularly the freedom of information with a notable decline from 83 percent down to 43 percent.
“Our commitment to control and eliminate corruption remains steadfast. We are working tirelessly to expose corrupt activities, keeping the public sector honest and accountable,” he said.
“The commitment we have made of investing in our people has never wavered over the years and the government is also focused on improving access to quality health services to every Mosotho regardless of their background and location,” he said.
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