Business

It’s all about networking

Published

6 years ago

March 29, 2019

George Ross, vice-president in the Trump Organisation said: “To be successful, you have to be able to relate to people; they have to be satisfied with your personality to be able to do business with you and to build a relationship with mutual trust.”
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. You can’t live like a hermit.

We have seen the most educated people dying as derelicts and we have also seen the less educated but the connected making it in life. 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 or as a supplier or a customer. 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.”

Wherever you are, the advice is network, network and build relationships. We usually talk of helpers in life, they might come from your previous relationships at work, from a conference or from a business dinner.
The Oxford Dictionary defines a network as, “a group of people who exchange information, contacts, and experience for professional or social purposes.” So networking is a building of relationships as nicely explained by Diane Darling, an expert on the topic of networking and the founder and CEO of Effective Networking, Inc.
“The real definition of networking to me is building relationships before you need them.” The relationships you build now can usher you to greater heights in the future. In our journey in life, we have built a lot of contacts.

Some of these contacts we never get to really link them, but there are others whom we develop relationships with. Diane Darling recommends that you can break your network into five different subgroups as below:
Database: Everyone in your contacts that you’ve interfaced with (email, phone, speaking engagements, Twitter etc). This forms the largest group.
Network: Your friends and family network, alumni network, or business network. These are specific sub-groups of people you trust. These usually are not more than 200 contacts. They are in constant contact with you.
Inner Circle: Ideally about 50 people who can rotate annually and give you candid feedback about your career. These people can give you honest thoughts about you without fear of offending you.
Personal Board of Advisers (PBA): 5-6 individuals you are particularly close with and whom you go to for advice that not only touch on your career, but your whole you.
Friends, Family and Fools (FFF): The most obvious group, these are people who probably like you because they either have to, or they just do.
You need to interact with these subgroups to benefit from your network.
These days it’s very easy to build networks because of the digital age we are living in. There are a lot of social media networks like Facebook, Twitter, WhatsApp and many others and also business networks like LinkedIn. One can use these to build networks. However the most trusted and tested way of building relationships is face to face networking.

The most obvious places you can network face-to-face is at “networking” events, conferences and many more social gatherings. At most conferences we tend to view these conferences as an opportunity to learn about new products, technologies or companies, but we tend to 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 emails 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 you need to grow your business and be successful in life you 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.

Networking can take place anywhere, at business events, social gatherings, conferences or on the online social media forums. One needs to exploit these encounters to the fullest.
Since networking opportunities do appear everywhere, you need to be prepared for business networking at all times. Carry business cards and develop a succinct, brief introduction of yourself and your company that summarizes who you are and what you do.

This brief presentation is commonly referred to as an ‘elevator speech’ or ‘elevator pitch.’ If you were to meet a potentially important contact for the first time in an elevator at a conference and he/she asks you: “What do you do?” You have no more than 20 seconds or less between floors to explain, and to make such an impressive impact that the person asks for your contact details.
One other way you can establish networks is for you to attend some business events especially those that pertain to your industry or that pertains to other industries that you would like to network within your community. You need to consider such events as conferences, trade shows, seminars and chamber of commerce events.
When you attend these events, even if you go with a friend, don’t go into your corner with your friend but instead separate yourself from your friend or colleague.

Move around and mix with other participants and introduce yourself, but avoid spending too much time with any single person. But make sure each encounter is productive and beneficial to both of you.
For such an encounter to be beneficial you need be paying attention to what the other person is saying. Don’t be distracted by other people you would like to see. Make your “elevator pitch”, that is, introduce yourself and your company. It’s important to 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 a 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 you can offer solutions.
Doing this will make them open up and they will begin to discuss their business and this gives you the opportunity to learn about potential partnership avenues you can approach in the future.

At these networking functions, ensure that you carry business cards and make sure you always 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.
It is imperative that you always follow up on your new business contacts with a phone call, an email 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 very important. Adam Small said, “NETWORKING is the single most powerful marketing tactic to accelerate and sustain success for any individual or organisation!” This statement is so true. People who have succeeded in life will bear witness to this statement.
Networking helps you to learn the dynamics within your industry much faster by relating with new established contacts. You can easily get connected to your community. Networking will open one door 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, advanced performance management and entrepreneurship. He is the Managing Consultant of Shekina Consulting (Pty) Ltd and provides advisory and guidance on leadership, strategy and execution, corporate governance, preparation of business plans, tender documents and on how to build and sustain high-performing organisations.
For assistance in implementing some of the concepts discussed in these articles please contact him on the following contacts: sjakarasi@gmail.com, call on +266 58881062 or WhatsApp +266 62110062 .

Business

Take a Break from Summer

Published

4 weeks ago

December 18, 2024

The Post

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 ago

December 16, 2024

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 ago

December 2, 2024

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.

Moipone Makhoalinyane