www.tycoonsuccess.com 2021/August
10 THE
YOUNG AND INSPIRING
BUSINESSWOMEN
TO WATCH 2021
Lloyds Banking Group
Kate Bohn Incubator & Accelerator lead
PROFILE
22 Noor Muhaideb Founding Partner at Opaal Interiors and Detay Living
6 Kate Bohn
Incubator & Accelerator lead
30 Rani Piputri
Head of Automated Intelligence Investing
12 Sujata Dasgupta
Financial Crimes Compliance Advisory
Article
34
Common Traits of an Entrepreneur
18
Cathy Smith
Tips for a Successful Female Entrepreneur
26
Great Tips to Empower 37 Female Entrepreneurs
Managing Director
Editor In Chief Prashant C. Managing Editor Ehsan Jami Publishing Control Team Alexis, Michael Visualiser Mary Chars Art And Design Head Stephan Wood Art And Design Assistant Aby K. Art And Pictures Editor Abhijit Kandalkar Business Development Manager Wilson Shan Marketing Manager Chris Philip Business Development Executive Maria, Wilson, Martina, Alex, Kevin Technical Head Jacob Smile Assistant Technical Head Alina Sege Digital Marketing Manager Jennifer Parker Assistan Digital Marketing Manager David King Research Analyst Earl Lewis Circulation Manager Scoot Taylor sales@tycoonsuccess.com
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Editorial Desk
Women are Paving the way for a New Style of Leadership
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ith the constant development in the startup ecosystem, more and more women are chasing the entrepreneurial dream and succeeding in their ventures. Women leadership in today’s world has been on a rising graph in the recent years. In this day and age, we can proudly say that women leadership is not an obscure concept any longer. Women are in the news every day, ruling all segments of industry and all facets of life. Successful women leaders and subject matter experts who have created a very strong knowledge pool are helping innovators to shape ideas into reality.
With a set of strengths and professional code of conduct that women are very well suited for; organizations are actively seeking women for leadership roles and female entrepreneurs are starting businesses at a faster rate than any other time in the past. Several organizations too are enabling women to grow and flourish in both their professional and personal lives, enabling them to thrive on their own path, based on their own professional and personal priorities. Their expertise and thought leadership are fuelling organizations' impressive success. In a country like India where most of the women aren't encouraged to think big, there are some who have soared higher than one would expect from a constrictive setup. These wonder women are inspiring other ladies to venture on the path of start-ups through the stories of their personal struggles and challenges. Our current edition speaks of such inspiring stories of women entrepreneurs who are disabling the think-leaderthink-male norm and touching the sky. The number of female founders shining in our country will only rise, and we could not be prouder of our women. Flip the pages and Happy reading…!! Tycoon Success Magazine editor@tycoonsuccess.com
COVER STORY
Kate Bohn
Incubator & Accelerator lead | Lloyds Banking Group
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The drivers of my unconscious motivation are deeply rooted in ‘imposter-syndromemeets-perfectionist-meets-try-harderand-carry-on-regardless.
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Stepping out of the Usual
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he COVID-19 pandemic has affected industries adversely, yet the business must go on. During such difficult times, we, as in the business world, are in a need of innovative leaders to rely on. One such young and inspiring businesswoman is Kate Bohn, Incubator & Accelerator lead at Lloyds Banking Group. In an interview with Tycoon Success, Kate talks to us about her inspiring journey of becoming an award winning evangelist. Her unique ideology and exceptional methods have led her in achieving many milestones in her pathway. She wishes to cement the ‘Technical Women in Leadership’ network which she co-founded for a much-needed, psychologically-safe space for senior female practitioners in the tech and FS industries. Moreover, in the future she also plans to coedit a book. Tycoon Success admire such businesswoman and take pride in featuring Kate in its latest issue, “The 10 Young and Inspiring Businesswomen to Watch.” Below are the highlights of the interview:
Into the Shoes of Kate Growing up with a migrant lifestyle across both hemispheres of the globe has helped Kate to attain a resilient approach towards change. Initially, she straddled the creative world and science/math avenue in terms of her interests and capabilities, which resulted her acquiring an undergraduate degree in both Art History and Chemistry, for a secure future career path into academia or art conservation. Initially, Kate came across an awful roundabout of attempting to move industries where she did not have enough experience for the position or was
overqualified for the role. She solved this conundrum by taking various contract roles which offered her an opportunity to experience a number of different employers before taking on a permanent contract. “A ‘try before you buy’ on both sides”, says Kate. One such role was with an American operation called Citigroup Global Investment Bank, and there, her interactions whilst visiting senior management from global headquarters in New York, led her being asked to build out an innovative platform offering customer online access to equities research content and create profiles/alert notifications. Eventually, this grew into the primary digital access channel for the Bank. Kate states that the ability to interact with sales personalities and traders, research analysts, clients, to travel, all the while creating a space in which both buy and sell-side actors could have the complexity of their roles simplified, automated, analysed and nudged using technology and data-driven metrics was an exciting proposition for her. She also states that this opportunity resulted in her entry in the industry massively labelled as “Fintech”, “customer journeys”, and “problems to be solved.”
Into the Shoes of Kate “There are so many lenses to success for me – not just the traditional markers of money or titles,” says Kate. Kate believes that, while measuring success, one must understand that the mental and physical health are foundationally important. She also believes that the ability to have quality spare time and to be involved in an activity that one can really get behind in terms of impact and purpose, surrounded by people working together in mutual respect, is priceless.
This approach was not only game changing in a period of time where ‘digital’ was still to be fully understood. It remains in play today and she is incredibly proud of all the colleagues and partners involved in bringing that original vision to life. On the basis of her past achievements and experiences, she believes that ‘success’ will often be wrapped up in the ability to action and execute on outcomes that offer simplification, time saving and ease of use/engagement for any consumer. It is also important to her that this is achieved without negatively affecting future generations or creating negative consequences, albeit unintended, for the current social or economic welfare of all. “My ego would also like to note that the ability to have made a difference in the fact that I took on a role or undertaking, shaping it in my own unique approach, rather than it was merely completed, is also in there somewhere!” asserts Kate.
Principles One Must Follow Kate believes that soft skills have always been key for her growth in the industry, especially the ones that can be learnt but are often more authentically core to an individual’s personality and make-up. She seeks to build strong teams with high engagement levels in supportive and positive environments where obstacles are tackled with trust, transparency and appropriate levels of risk. The certain principles she admires as her ‘top three’ are empathy, curiosity, and influence without authority. She also notes there are many leadership styles albeit some may feel ‘better’ than others to each individual in execution or engagement. However, Kate states, every style has its place in a leaders’ toolkit, flexing across the spectrum of ‘autocratic’ to ’laissez-faire’ as a situation demands or unfolds. Kate believes that one characteristic every leader must possess, in the current Fourth Industrial Revolution
(Industry 4.0) and amid the Covid-19 pandemic, is enhanced curiosity. By quoting an old Chinese proverb ‘the wise adapt themselves to circumstances, as water molds itself to the pitcher’, Kate asserts that an agile leadership may be the ultimate requirement for leading today/ tomorrow's talent, underpinned by the core characteristic of constant curiosity that our everchanging world demands.
Advice to Rely on In this particular excerpt, Kate emphasizes over the advice presented to her on her way to success. She states that the drivers of her unconscious motivation are deeply rooted in ‘imposter-syndrome-meetsperfectionist-meets-try-harder-and-carry-onregardless.’ Below are few of many pieces of advice she adapted and moulded herself for the better approach, in her own words: “These elements (or Life scripts as Taibi Kahler would define them) are fabulous motivators in respect of propelling me forwards and to succeed, and yet the flip side of this is that I regularly hold myself to expectations and standards that are significantly higher than anything I would ever apply to colleagues or peers. As part of a recent 360 feedback session, I was advised to STOP doing this, and so I am working on becoming more intentional on wrapping that insight into the primary advice I use on a daily basis: “Yes, if….” “Yes, if….” should be used in place of any phrase that starts “Yes, but….” This phrase was introduced to me by Vicki Lintern (then working at Salesforce, and now with Temenos) in respect of creating better, braver outcomes – be that public speaking engagements, new ways of working/ collaborating, or simply retaining curiosity and an appetite for the art of the possible. If you never say ‘yes, if….’ you’ll never know just how supported, empowered, confident and valued you can feel while you deliver courageous work and outstanding results.”
Sujata Dasgupta Financial Crimes Compliance Advisory | TataConsultancy Services
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Industry recognitions like these are truly motivating and drive me to pursue my passion in the risk and compliance field with a stronger resolve!
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Leading the way for the Greater Good!
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midst COVID-19 pandemic, many sectors in various industries have had faced difficult time. Be it healthcare, fintech or IT, the damages done to businesses ranges from lowest to the highest. Yet, in such striving/difficult times, some leaders have beautifully portrayed their exceptional skills on sustaining their organizations to its desired stature. One such professional is Sujata Dasgupta. Being the Global Head - Financial Crimes Compliance Advisory at Tata Consultancy Services, Sujata has excellently implicated her unique ideas and methods to enhance the financial risk management and compliance. “Early in my career, my goal was to rise the corporate ladder, just like anyone else,” quote Sujata. She envisions to finding a purpose and adding value through the work she does, rather than to only focus over the career growth. That later become her driving force to last 5-6 years. Moreover, she is extremely active in the global community on financial anti-crimes, and wrote in multiple journals and spoke extensively at industry events about this subject. Tycoon Success admire such leaders and takes pride in featuring Sujata in its special edition ‘The 10 Young and Inspiring Businesswomen to Watch’. Below are the highlights interview:
A Journey worth Appreciating She started his career as a Banker with India’s largest bank, State Bank of India (SBI), in the year 2000. Having worked across varied functions from retail banking to corporate credit, foreign exchange, risk and compliance in India and New York for close to 7 years, she moved to the IT industry as a banking advisory consultant. She states that in the last 14 years, she initially worked in IT services and eventually moved to IT and Management Consulting, focusing on non-financial risk and compliance. During this period, she worked earlier with IBM and Infosys, and now with Tata Consultancy Services (TCS) where she head the global advisory on financial crimes risk management and compliance. She have worked in 7 countries across USA, UK, Europe, and Asia, in Risk and Regulatory compliance related transformational programs for leading global banks. And, she is currently based in Stockholm, Sweden.
Accomplishing many Achievements Sujata states that there have been several achievements during her career which are very precious to her, as each has helped her to grow both personally and professionally. From being the topper in the selection for foreign postings from SBI India (leading to her New York deputation) to several awards in IBM, Infosys and TCS, being featured in interviews by leading international journals viz. She also states that the Economist and Bloomberg, the privilege to
run her own column in Corporate Compliance Insights, USA, being invited to speak in the FinCrime World Forum where each one has been very special. H o w e v e r, s h e s t a t e s t h a t t h e m o s t r e c e n t accomplishment, and probably the most notable yet, has been winning 2 prestigious international awards in the March 2021 – ‘Risk Professional of The Year’ by Waters Technology in their ‘Women in Technology & Data Awards’ and ‘Fraud Prevention Award’ by Themis in their Anti-Financial Crimes Awards 2021. “Industry recognitions like these are truly motivating and drive me to pursue my passion in the risk and compliance field with a stronger resolve!” quotes Sujata.
Overcoming the Challenges Sujata addresses that her area – financial crimes risk and compliance – is a very dynamic, complex, and challenging space to work in. Thus, it takes a lot of effort to stay up to date with all that is going on in the financial world in terms of Regulations, technology advancements, emerging risks and designing corresponding controls. “But this is an area which has grown beyond my profession – it is more of my passion now, and I consider myself one of the many fincrime fighters who are doing their bit to prevent some of the disastrous impacts of these crimes on human lives, environment and the economy!” says Sujata. So, in addition to helping her clients develop robust risk management and controls framework around fincrime and other non-financial risks, Sujata is and has been very active in the global community writing and speaking on this particular subject to bring awareness in these areas as well.
A Unique Approach Sujata asserts a commonly known definition of leadership which states that it is about inspiring people to do things they never thought they could. And she tries to inspire by example, by pushing her own boundaries, reinventing herself and accomplishing new milestones, continuously learning while keeping her ear to the ground to stay ahead of the curve.
adverse media, AI based transaction monitoring, graph technology based linkage analysis for discovering criminal networks, dynamic risk monitoring and due diligence, to name a few. She advise that enriching financial institutions’ data quality through ongoing remediation and integration of internal data with external data, as the effectiveness of AI models are heavily dependent on the firms’ data quality. She describes herself as a people’s person and have strived to build effective relationships with her teams and all stakeholders she work with.
She also believes in and also practice sending the elevator back down, to groom and nurture the next layers and build the leaders of tomorrow. When asked about success, Sujata explains that success for her is to be happy doing what she love and making a difference in the process by achieving tangible results. With years passing, her idea of success has changed from material wealth and rising the career ladder to pursue her passion of research and innovation, writing and speaking on the subject that has grown very close to her heart—anti-financial crimes. “The fact that I have had a positive impact on the businesses of our clients as well as the global community in this pursuit, and the recognitions that have come my way through this are what I hold as my successes!” Sujata adds.
Creating Room for new Ideas Sujata states that she is a strong advocate of data-driven and AI powered solutions for financial crimes risk management & compliance (FCC), aligning with the business 4.0 agenda that is steering all industries globally. FCC is poised to witness a digital disruption in this new decade, and she has been sharing her ideas on leveraging digital innovations like smart identification and verification solutions for KYC, automated screening for customers and transactions
Through quoting, “A leader is as good as his team, and that is why I invest a lot of effort in grooming those who work with me, bringing out the strengths they are not sure of themselves!” Sujata states that she leads her team from the front, with a clear vision of what she and her team must and can achieve, enabling her team to work towards that goal. She trust her people and give them the autonomy to drive initiatives on their own, while providing all the required support to achieve the target.
Advice to Rely On Sujata expresses that her parents have always advised her to stay humble and keep her feet firmly on the ground, no matter how high life takes her. Incidentally, after her successive international award wins this year which are undoubtedly some of the highest points of her life, a close friend of hers gave me this very advice which says, “I do not to get carried away by this success but stay humble and continue the hard work!” Sujata believes in ‘Empathy!’ She recites a quote that she read long ago: ‘if you want your team to accomplish great things, you must first show them that you truly care’ and has always stayed with her. She admire such quality in her superiors and do practice with her teams. She discovered that empathetic leaders are able to communicate with their team better, eliciting more effective feedback in the process.
Common Traits of an Entrepreneur
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any people aspire to be independent company entrepreneurs. They see their company as very successful, enabling them to amass tremendous riches, exercise complete control over their time and work schedules, and enjoy the flexibility to come and go as they choose. If this were the case, then everyone would be a successful entrepreneur today! Unfortunately, for the majority of individuals, this is not the case. Being an entrepreneur may be very rewarding, but it is also backbreaking labor. Here is
a list of some typical traits that an entrepreneurs person must have.
Vision To be successful, entrepreneurs must have a clear
vision of what they want their business to be and briefly explain the purpose, objectives, and market position of their company. They should be clear on the who, what, where, when, and why of their company (and explain it simply to others).
Passion A successful entrepreneur is enthusiastic about their company. It is an exhausting job, and putting in long hours will be difficult if you do not like what you are doing at the moment. People that are passionate about their job understand what it is that motivates them to keep working toward their goals.
Tenacity Entrepreneurs with tenacity persevere in the face of a difficult situation. They are not the kind to give up lightly. Their ability to accept rejection and their willingness to learn from their errors demonstrate that they are mature individuals. They are willing and able to change and adapt their strategy to be successful the next time around.
Willingness to put up long hours It is more challenging to be an entrepreneur than it is to be an employee. Entrepreneurs who want to be successful must be prepared to put in the time and effort necessary, sometimes for little or no compensation at the start of their business. Successful entrepreneurs are well aware of the danger and hard work required to achieve their objectives.
Confidence The confidence in themselves and their businesses that distinguishes successful entrepreneurs is essential. They must have faith in their abilities and their ideas. Everyone who wants to start their own business will experience rejection at some point, and the most successful entrepreneurs are the ones who dare to keep trying and bounce back after adversity.
Flexibility Things do not always go according to plan. A successful entrepreneur can adapt to changing circumstances. They are ready to learn from their errors and to adapt and adjust when the situation demands it. They are open to receiving suggestions from others and experimenting with new methods.
Ability to sell An entrepreneur must be confident in their ability to sell. It is still necessary for the leader to be skilled at networking and to market themselves and their company to lenders, clients, suppliers, and other members of the company's employees.
Prudent with one's finances t themselves and their company to lenders, clients, suppliers, Successful entrepreneurs are also excellent money managers. They make intelligent investments in overhead and ensure that they constantly keep track of their money and manage their cash flow effectively.
Having the courage to ask for and accept assistance The most successful entrepreneurs understand their limits, recognize that they cannot do everything alone, and are ready to delegate tasks to others. They are not afraid to seek assistance. When professional counsel is required, they seek it out and pay for it.
Resilience Bumps on the road are inevitable for every company, no matter how successful it becomes. The ability to bounce back from a setback is essential for every successful business. They see failures as a chance to learn and develop from their experiences. They are aware that failing is an unavoidable aspect of the game.
Innovative The ability to innovate is one of the most essential qualities of successful entrepreneurship. The entrepreneur searches for and seizes on market opportunities to grow their business. He is the one who brings new goods and services into the market intending to meet customers’ requirements.
Someone willing to take risks A certain amount of risk accompanies any new company venture. However, it is an exceptionally essential element in entrepreneurship since the entrepreneur is the one who is responsible for the entire risk of the company. To be successful in business, the entrepreneur must possess an adventurous and risktaking mentality.
Conclusion Starting and running your own company may be a wonderfully gratifying experience, but not everyone is made out for the role of entrepreneur. Be honest with yourself about whether or not you have what it takes to be successful in business before making the jump.
ōpaal Interiors
Noor Muhaideb Founding Partner | Opaal Interiors and Detay Living
The Ultimate Guide To Women In Interior Design
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s a team, we’ve been thinking about how businesses and especially women in business have been affected during the pandemic and how we can support our team as we return to more normal operations. In many countries, the female labor force is at a 30year low, which some experts attribute to the quarantining. Achieving a work-life balance was challenging in “normal” circumstances but has been even harder during the months of remote working. Some women are responsible for additional hours of caregiving than ever before. If the woman shares a home with a spouse and children, space and internet bandwidth is at a premium. It is challenging to create any separation between life and work responsibilities. These factors have forced many women out of the workforce altogether. Although some economists predict a big comeback, growth in some industries may be slower than others. In order to accelerate the regrowth, companies should provide a clear path for staff, but especially women, to return to the workforce. For us at Opaal Interiors, this global pandemic has taught us so much. We streamlined our virtual collaboration process to allow our whole team to continue working together. We were happily surprised with how much productivity is possible even during quarantine. The entire industry now realizes that virtual work is more possible than we had imagined, especially as teams adopt the use of technologies. But, as soon as we could safely allow people back into the office, Opaal Interiors did encourage the staff to return. We may continue to use hybrid methods of communication and project management now that we
have integrated these technologies into our process. Other companies adopting these practices could also provide opportunities for women who live in more remote areas or who didn’t previously have access to higher-income positions. For women at any stage of their career, there’s good lessons to focus on as we look to grow professionally in a post-pandemic world. For women at the beginning of their careers, the path to success is much the same as it has always been. It’s important to not let a slow economy scare you away from pursuing our dreams, learning new skills or stepping into new leadership roles. While it may seem counterintuitive, a study released by the Kaufman Foundation in 2009 found that over 50% of Fortune 500 companies started either in a slow economy or recession. You must build a plan for your professional growth. This may be the perfect time to learn new skills or get additional training and education for a new line of work. By following your passion and leveraging your natural abilities, you can discover opportunities to make a positive impact on the world around you. You may find yourself as CEO of your own company! As your confidence grows, you will be able to take on more responsibility and work your way up. After working for fifteen years at Emaar Properties, we had developed a good process and learned what was missing in the market. The choice to venture off to launch Opaal was not without its own challenges, but we felt confident that we could build a business to meet the needs of our future customers. Being a first-time business owner can be daunting, but you can lean on your family, friends and professional mentors, when possible. For Opaal Interiors, some of the most
challenging times for us came in the early years. Without an established client list, we were pitching against well-established firms, and had to build our reputation on providing excellent customer service. I am happy to say that our patience and determination has paid off. I’m very proud of where we are today. If you are just beginning your own entrepreneurial endeavors, I encourage you to be focused, flexible, and persistent. It’s not easy to start something, but it’s not impossible. For women who are in the middle of their careers or perhaps already responsible for bigger teams, this may be the time to focus on growing a specific area of the business, so that you don’t spread yourself too thin. You must understand what sets you apart in the market and lean into those differences. What sets Opaal apart is the strength of our client partnerships. Both strong creative leadership, and real client partnership exist side-by-side. This approach also informs our hiring strategy and we take great care in the hiring and training process. We make sure each team member understands the unique way we run our business because we want a sense of shared ownership across the company. We try to give young designers each a voice and opportunity to develop and use their skills. Our hope is that they are empowered here at Opaal to step bravely into the world of design if and when they choose to move on to other opportunities. As women, we may feel pressure to blend in, but we should not be afraid to stand out in your work! As a professional, it’s helpful to understand our strengths and natural skills so that we can bring that authentically into our work. We must also know and harness the unique gifts that may be stereotypically ‘feminine’. If you have the skill of precise and insightful communication with others, accept it! This is a huge asset to any business. If you are naturally warm, empathetic, expressive, humble, let these serve your business and your clients. Client partnerships are a critical aspect of most businesses, and the ability to place ourselves in the shoes of the client will give us
a real edge on the competition. It is also crucial to give ourselves space and quiet to nurture creativity. When the pace of life slowed down at the onset of the pandemic, our creative brainstorming capacity at Opaal Interiors shot up tremendously. We need to pay attention to that. Innovation and creativity have been critical to our success in the interior design industry. Staying on top of trends, (or better yet, setting trends,) can seem daunting, but we have to make a little space for exploring new ideas every week. This sounds simple, but it is incredibly hard with all the other demands on the business. So, if innovation is important to your business, you must prioritize creative exploration every week. For us, innovation may be in the form of new ways of operating the business or a new creative use of a material that we’ve never explored before. Either way, it is a combination of response to the demands of our customers and the creative vision that we want to bring to life. One of most successful results of innovative thinking at Opaal Interiors in the last five years has been to open a sister company to manage furniture procurement. It has afforded us the opportunity to serve our clients better while also giving our team the path to building additional skills. Whatever form innovation may take in your business, don’t forget that good ideas can come from anywhere. For women nearing the end of their careers, we hope that you will continue to mentor and inspire the next generation. We need your wisdom, and we want to learn from your experiences. As we share our stories with each other, we feel empowered to realize our dreams and take bold steps forward in our journeys. We love to see so many women stepping into leadership roles, and we’re thankful to magazines like this who shine a spotlight on female entrepreneurs.
Tips for a Successful Female Entrepreneur
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ore women than ever before are starting their businesses and becoming entrepreneurs. No matter whether you are thinking about establishing your own company, need some guidance navigating the turbulent, unpredictable seas that are characteristic of entrepreneurship, or are just searching for some new inspiration, these bits of hard-won wisdom will undoubtedly be of assistance. Here is the list of top entrepreneur advice for attaining success in their respective fields.
Know where energy and time should be focused. Having a business and a mother of two small children requires knowing where and what to focus. Event
professionals and entrepreneurs alike may do more and better by concentrating on the duties and not allowing for extraneous thinking or distractions.
Learn how to take account of yourself. Set objectives - track them and monitor them. Manage your requirements. Each element of personal responsibility and being honest with ourselves will enable any businessman to succeed. Women need to believe in themselves.
Before anyone else, you must believe in yourself. By being self-confident, women, entrepreneurs learn not to seek acceptance or approval. As stated, believing in oneself enables women entrepreneurs to be confident and dedicated to overcoming setbacks or difficulties.
Don't stop learning. Learning is a job a female entrepreneur should never stop doing. Whether it continues to master a profession
or a talent or learn a new one – continuous learning creates possibilities for improvement, new ideas, and opportunities.
Empower your surroundings By not constantly demanding credit, giving others a chance, and empowering others, women may attract the best of the best – the best workers, the most incredible mentors, the best customers, etc.
Learn from errors. Mistakes are a standard component of business growth, and every successful business person has made a fair share of mistakes along the way. The errors are the basis for growing, overcoming, and improving.
Learn to take responsibility.
battle to serve as a source of motivation and to strengthen your commitment. Your efforts and commitment will determine how far you can go in making your company a profitable venture. If things come naturally to you, don't question them. Take your path, whether it is filled with difficulties or stepping stones, since it will lead you to the pinnacle of achievement. Continue to put in the effort so that you may enjoy the rewards in the long term.
Have faith in your choices. When it comes to operating your own company, never underestimate your talents. You start with a vision, and your choices will impact your company at every stage of the process.
Errors come with a price to pay - whether life changes or is tiny. But we may maintain our self grounded and dedication to learning and develop by taking responsibility. Women do not have to fear being flawed in the corporate world, but women may hold themselves responsible by assuming responsibility like the second point.
An essential aspect of your brand's consistency is how you think about and communicate with your target market. Having a thorough and constantly developing knowledge of your target audience can assist you in making choices that will benefit your company.
Learn to Say No
Conclusion
Learning how to say no as a female entrepreneur is essential. No poor choices, no terrible offers, no time constraints – even the difficult job of saying no in fear of appearing impolite. Women can't do it all and have the opportunity to grow and build their companies. Learning to say no enables us to get familiar with the discomfort and learn to endure this suffering instead of feeling the need to do away with it.
Utilize this as a chance to demonstrate to the rest of the world that you are no less than anybody else in your field and to continue to climb the career ladder that you have set for yourself.
Struggle It is a necessary component of every fresh beginning. A million obstacles should not be enough to deter you from achieving your goals. Every setback will provide you with an opportunity to learn something, therefore see every obstacle as a learning opportunity. Allow the
The target audience
There may be moments when you will need assistance. Take the initiative and seek out your network of friends, family, and experts if you have any questions. A strong network is essential for every successful company.
Rani Piputri Head of Automated Intelligence Investing | NN Investment Partners
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hen I was 16 years old, I left my home, without telling my parents, and got on a bus to another city to take an exam for a scholarship. The exam was an opportunity for me to move to the Netherlands and experience another country. Another culture.
I ended up doing well and the next thing I knew, an envelope arrived in the post notifying me that I had been awarded the opportunity to study in Rotterdam. At that time, I actually didn't know what I wanted to study. It was either biology or economics and, in the end, I settled on the latter, not really knowing what to expect. I dove into econometrics, which I learned that it was economics on steroids. Four years later I had a degree and I was not sure what to do next. I knew that I needed a job, but like most first jobs, I had no idea what I actually wanted to become. Everything I had learned was in books and I didn’t have any inspiring role models in business to look up to. We all have that experience in life where we are not exactly sure what we are going to do. We wonder if we are good enough. If people might see that we actually don’t know what we are doing. I believe it is in those first few months that we all feel like imposters. The thing that I learned then and carry with me today is a learner’s mind, that is able to adapt and learn. The creative tension that I felt at that time was exactly the quality that I have done my best to maintain in my business life. Somewhere between confidence that I am going to do a great job, while at the same time knowing that there is always something that I am missing.
I've also noticed throughout my career that it's often harder for women to make peace with this “Impostor syndrome” because we often look at what we're not capable of doing, rather than what we are capable of doing. In my experience, men often feel much more confident in areas where they have less experience, which has the effect that they are often given higher positions, even salaries, and a culture of “knowing” is given priority, over more creative cultures that invite exploration and creativity. I worked for the next few years at the insurance company Aegon, where I learned the basics of business. I learned how politics work. How budgets get created. And possibly most importantly, how the best ideas will fail, even before they are started, if there's a culture that isn't able to maintain it. The statement work smarter, not harder is something that I have found more and more wisdom in as I have evolved in my business career. In 2008 I was lucky enough to cofound the hedge fund Saemor Capital. There I learned the difference between working in the public and private sector. I learned that once you are spending your own money, you treat it differently. There's no company flipping the bill. It’s your own money and you see that you spend it more responsibly. This has been a lesson that I carried forward the rest if my life. Just because you work for a company that is not your own, doesn't mean that you should treat it as if it is not your money. After working in this hedge fund for ten years, I had the deep desire to work in another market. It was always my dream to work in London, a global financial capital. I knew that the competition was high and the hedge fund industry was competitive. I worked at Aspect Capital where I learned another big lesson in life. Not everything is what you imagine. Sometime your expectations are far from reality. I worked night and day, never leaving work at the office. I was preoccupied with work, where results were measured day to day, not year to year. What I learned here was important. We must have humility in the face of challenges. Not everyone is cut out for every job and I saw that this job as great, just not for me. I also learned that some challenges were even greater than making money. An example to that is creating teams who could achieve more together than any individual could create on their own. I transitioned back to the Netherlands, where I brought my years of experience back into the corporate sphere. Creating teams that flourishes is a challenge that requires a vastly different set of skills. How does one inspire the best in an individual? How does a group flourish without the need for micromanagement? I learned that this journey is actually less about understanding others and more about understanding oneself. How is my behavior positively or negatively influencing the group? How can I support each person, with very different motivations, to become successful in their chosen endeavor? I don't see my position as a one of authority. I see my position as one of how do I inspire others through my behavior. This has been one of the greatest learnings of my life. If I had to reduce successful leadership down to three points they would be the following: Successful leaders reflect on their behavior and continually learn how to get out of the way of their group’s success. Successful leaders are not fearful of change. In fact, they invite it as a pathway to continuous improvement. And finally, there is happiness. If people are not enjoying themselves, it is not sustainable. That does not mean that people do not take their job seriously, rather they balance achievement and self-care. As long as these three things are in alignment I feel like I am serving the groups I work with, as well as myself.
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estimated 40 million people into extreme poverty. Lacking the deep pockets and extensive social security safety nets of their more developed peers, African nations will need to apply ingenuity and innovation to get the continent's growth and development back on track. The response by Africa’s business sector could hold the key to how the continent overcomes the economic challenges ahead, while also building greater resilience and adaptability for future disruptions.
Small steps, not giant leaps
SAP
Cathy Smith Managing Director
Why iterative innovation is my business strategy of choice in 2021
T
he year 2020 turned out to be, among many other things, the single greatest catalyst of digital transformation across industries and regions. As the COVID-19 pandemic disrupted economies around the world, organisations had to quickly adapt to enable remote work for their business to remainproductive. World trade declined by an estimated 9.2% in 2020. Recent data by the World Bank indicate growth in subSaharan Africa will fall to -3.3%, pushing the region into its first recession in 25 years and pushing an
One of the outcomes of the widespread disruption of 2020 is that business leaders and their technology partners are likely to forego large, waterfall projects in favour of taking small, consistent steps on their business transformation journey in 2021. A strategy of iterative innovation can enable businesses to make consistent improvements to their current products, services and strategies. Iterative innovation implies that businesses enter into a process of continuous improvement, measurement and learning. Successful iterative innovation ensures the business extends its capabilities while navigating any new disruptions or emerging complexities. Taking an iterative innovation approach means huge, expensive and lengthy digital transformation projects are substituted with a greater number of much smaller, well-defined and clearly measurable projects that focus on delivering quick business value. However, iterative innovation requires an environment of learning. Analytics should be embedded in business processes to provide real-time visibility over the performance of these innovation projects. By measuring impact, analysing insights and applying learnings, business leaders and their technology partners can ensure each iteration builds on what has been achieved, moving the business closer to its goals.
Mobilising executive support In the face of the disruption every industry is experiencing - economic, technological, and pandemic related - there is tremendous value in the ability to take constant steps toward greater performance, productivity and innovation. However, this requires bold leadership. Business leaders need to mobilise and bring functional heads together to actively drive projects to a successful outcome. The very best business transformation projects are built around active participation from executives whose involvement helps ensure the project delivers direct business value and supports organisational strategy. If organisations wish to thrive in our disruptive digital economy, innovation needs to be driven throughout the company from both IT and business.
What does this mean for their technology partners? Firstly, technology partners need to engage with their customers at a business level, not a purely technological one. The goal should be quick time-tovalue - what can we do to achieve positive business results and drive iterative innovation quickly and consistently? Secondly, a customer-first strategy is vital. This may mean making small sacrifices in the short term to secure long-term value. For example, instead of insisting on a total digital transformation project, technology partners should seek opportunities for smaller deployments that address specific issues along the business value chain to produce measurable results. As each project builds on the last, bigger business and technology priorities become achievable. Thirdly, an organisational culture shift is needed. The nature of business is that we all pursue monthly and quarterly targets, and our success is often measured along similar lines. An exceptional sales strategy
would balance the need for immediate results with what's best for the customer in the longer term. This requires that leaders take a long view, and not sacrifice long-term gains for short-term outcomes. To echo Albert Einstein, we can't solve our problems with the same thinking we used when we created them. The digital transformation of the African continent is continuing apace. By changing our collective strategy and shifting focus to a more iterative approach to innovation, the continent’s business sector could be well-placed to emerge from our current crisis stronger, more resilient and with greater long-term sustainability. ENDS Visit the SAP News Center. Follow SAP on Twitter at @SAPNews.
About SAP As the Experience Company powered by the Intelligent Enterprise, SAP is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77% of the world’s transaction revenue touches an SAP® system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables more than 440,000 business and public customers to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit www.sap.com
Great Tips to Empower Female Entrepreneurs
I
n the male-dominated world, women have been undervalued for a long time in many ways. With the changing scenario of the 21st century, females are coming forward actively. The idea of equal human rights and woman empowerment is now a flourished one in all positive sense. Women are taking part in various business ventures. Entrepreneurship is something showing hope to ladies who dream of doing something of their own. Entrepreneurship has to do more than just making a
female individual financially independent. When she is starting an initiative, she is something she did not explore before. On successful persuasion of her initiative, she is able to give employment opportunities to some more people. Not just that, a business run by a woman is serving the needs of society in some way. So both men and women are benefiting from the purpose. Let’s focus on some tips to empower female entrepreneurs.
Don’t Fear The first and foremost thing is to dream, think and plan accordingly. People lag behind because a lot of time they fear failure. In any initiative of life, there will be something to learn, there will be successes and there will be failures. All the highly successful people had failed at some point in their life. What matters is how
you deal with it. The same goes for success.
Be an Expert
One has to be grounded and level-headed during her success too. Making a decision demands courage but you need more tenacity to stick to it. The biggest failure is not trying at all in fear of failure. Take baby steps and learn with time. Managing a business is a process that requires skill. As you go on with it, you eventually learn the needed tricks of making it bigger.
Expand your circle. Networking and communication hold much importance in a business. Let people know about your service and products through advertisement. That does not mean you need to invest a sound amount of money in advertising. Use social media platforms. Make a page, write blogs about your business. Reach the targeted audience through emails. Digitalize your business. Digital marketing is a booming industry. Use all the boons of scientific digitalization.
Get Feedback Feedback is crucial to validate your purpose. You can build a customer care portal and have their reviews. Utilize online and offline platforms to exchange thoughts. Sharing contacts with customers helps a business owner in many ways. Consumers feel free to express their likes and dislikes. Their opinions help you further to improve the quality of service. Welcome both positive and negative feedbacks. Positive reviews will boost your confidence while negative ones are even more vital for betterment. Always give importance to customer demands. This is the key to success in business. An entrepreneur who understands the pulse of customers stays ahead in the competition.
Keep Learning People who are open to learning new things become skilled in a shorter time. A flexible attitude is a boon to your growth. As a new entrepreneur, you actually have an ocean of opportunity and so to explore. Do sufficient research related to the business you are doing. Consult veteran professionals who have been in the same fields for years. Discuss the potential pros and cons with them. A thorough study with mindful research will teach you a lot of things. When you gather knowledge, you apply methods rightly and escape mistakes. Knowledge is the power- be it any area of life. The right knowledge will be the source of success in a woman’s career in entrepreneurship.
The more people get to know about your initiative, the more potential customers you attract. Make your service available for all the people. People who come to you and people who don’t come to you. Make your service available at their doorstep through courier services. You can make an app exclusively for your business from where customers can order your products sitting at their home comfort
Conclusion. The key is to believe in yourself. Dont ever underestimate yourself just because you are a woman. Womanhood itself is a symbol of power. Have faith and make practical plans. Once you are done with it, implement your ideas into action. You need not be great to start. But you have to start to make it great. We hope this article gives you a better understanding of the above topic. If you find it informative, our purpose of writing is served. We wish you good luck in your ventures. The sky is the limit.
THE BEST RUN
For more information, press only:
•Delia Sieff, SAP Africa, +27 (11) 235 6000, delia.sieff@sap.com
•Adam Hunter, SAP Africa, +27 (711) 787 035, adam.hunter@sap.com
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