My Notes from FemFunds 2.0

fe funds becomingyeva

I attended the Femfunds 2.0 event and it was a life changing experience. … well maybe not life changing but it was a really good event which I regretted not dragging all my friends too.

I saw a promoted post of the Femfunds event on Instagram and I went ahead to register for it.. I usually register for events like this and forget but I actually put this on my calendar and set a reminder. I didn’t know what exactly to expect but I had a good feeling about it.

It was a free event which was aimed at connecting and empowering women in their businesses and careers. Over 1000 women attended and I’m sure no one was disappointed. Why were we impressed?

Firstly, the event started on time, which is super rare in Nigeria, the hall was well decorated and organized with professional ushers, there was a cute photo wall which all the ladies loved, there were food and drinks and most importantly, the content from the speakers was amazingggg!!!

To cure my guilt of not inviting you all, I have decided to share the notes I took from the talks and panels. My notes are super summarized as I tried to listen actively but there’s still a wealth of knowledge in there. here it goes.

Part 1 of event

 

1) Negotiating an Offer by Tosin Durotoye.

  • After you get a Job offer, do the following:
  • Find your voice
  • Ask questions
  • Do your research
  • Don’t get anchored to a figure. Always give a range.
  • The fact is that an employer wants to get you at the lowest possible price and will make at least 4 times what he offing you as ROI from your services.
  • Get at least a 10% salary raise from your previous job.
  • always operate from a position of power: they want you and You will bring them value.
  • be knowledgeable
  • Do at least a round of negotiation before you accept a final offer.

2) Building a global business by Mo Odele.

  • Pick 5 top markets in the world for your product and do market research on what works and what doesn’t In these locations.
  • Figure out entrepreneurial problems in different countries? What are the challenges faced?
  • Do your market research
  • Hire the right set of people
  • Get your business registered in more than 1 country eg USA and Nigeria.

3 ) Telling your story by Chika Uwazie

I love how Chika was all about the numbers… Men lie, women lie but numbers don’t!!! show your workings… no one can argue with that. Some points she made were:

  • Whenever you talk about your business, you need to talk about why. tell your story. mention what makes your business different and humanize it.
  • Don’t forget to talk about the numbers. show your profit, revenue, competition etc. to potential investors.
  • Talk/ communicate with power. Look at people in the eye..  Nobody can carry the cane to beat you and you have nothing to lose by being confident.
  • Be comfortable with hearing Nos and rejection.. they will always happen.
  • Get resources to learn how to pitch/communicate and work without fear.

Panel 1

After these amazing ladies spoke, there was now a panel session including 3 of them and questions from the audience. Some Points taken from the panel of the 3 ladies include:

  • We need to start Overcoming our metal blocks as women.
  • Ask yourself this: Will it kill you? If the answer is no, go ahead and do it.
  • Go to conversations with confidence.
  • Show your workings, record your achievements and what you have done.
  • exercise your no muscle.
  • be fine with and unafraid of rejection
  • document everything.
  • register your business in multiple countries.. you can use stripe to register remotely in the USA from Nigeria.
  • get the business canvas (a business model template which can be found online)
  • An easy way to expand your business is via partnerships.
  • You can use fulfillment companies to sell your products in multiple countries.
  • Explore Franchising… there are smart wats around it.
  • Bargaining: this is a skill to be learned. A way to go about it is to figure out the interest of the other party and use your want to meet their needs.
  • Bargaining: What can you give the other party that they want and don’t currently have? Find out what that is, then bargain from that position.
  • buy your domain name asap then make sure your brand is consistent online. Companies will google you. 
  • Build a brand from day 1… everything you do is part of your brand no matter how small… start consciously building it now.
  • Research on brands you love and do what they do that you love.
  • Excellence is from day 1.

 

Part 2 of the event.

Part 2 of the event was called the money session., it featured talks from Tosin Olaseinde of Money Africa, Arese Ugwu of smart money woman and Afua Osei of She leads Africa.

 

1) Real estate and long-term investment by Tosin Olaseinde

  • Research, research, research.
  • Real Estate is a long-term investment. Don’t expect to get your return on investment immediately.

2) Smart money by Arese Ugwu.

Arese is a Finance Legend amongst women. especially with her book, the smart money woman which I have reviewed. she started her talk by telling her story and explaining what exactly drives her. (the fear of poverty)

  • constantly improve your earning potential. no matter how much you save, you can’t save what you don’t have to try to earn more.
  • making money is not by value but based on the complexity of the problem you solve. the more complex a problem, the more money you make.
  • How are you solving a problem better than anyone?
  • measure your financial value based on your net worth not what you earn. What you earn doesn’t accurately determine your network. you need to include assets, liabilities etc.
  • balance your investments with your lifestyle goals: don’t live above your means.
  • budget your earnings: allocate percentages to save and invest in before you start spending.
  • Build assets in multiple things.
  • Resources are limited and finite. Allocate accordingly.
  • you can be earning a lot and still be poor.

3) Building a Digital Tribe by Afua Osei

Afua is such a fun and chill person. She co-founded She Leads Africa which is now a top women’s organization in Africa. She made a few but important points on how to build a digital tribe. They include:

  • What are the things people want to see in a personality? ( They include being real, relatable, aspirational and giving information)
  • Who are the top brands and personalities on Instagram and why do we love them eg cardi B.
  • What is it that you want to achieve and be known for? You need to determine that.

1) vision: create a vision statement for your brand.. who you are, what do you do, how do you do it, who do u do it 4 and how you do it better.

2) voice: If your brand was a person, who would she be? be consistent across platforms.

3) focus your brand isn’t for everyone. serve one type of person first. do 1 thing well before you start doing others. Choose 1 to 2 to start with. Be focused.

  • Do you. You can’t be everywhere and can’t appeal to everyone.
  • What are your most important metrics? You need to determine that from the beginning.  It shouldn’t be likes or comments. they could be the number of clients, referrals, click-through, calls, emails etc.
  • Figure out your unique brand voice. (Estee Lauder and mac are owned by the same company but they have different brands with different voices.
  • Identify 1 or 2 platforms to commit to. create content weekly and grow from there. Don’t be everywhere and don’t try to do it all.
  • What do people like and how do you give more of that.
  • You are sitting at a table. How are you adding value to these people around you?
  • Be more intentional with social media.
  • What are people watching you do on social media?

Panel 2

 The panel session of part 2 of the event.

 I didn’t take a lot of notes here cos I was tired.

  • Create a financial system that excludes you.
  • You need to go do a lot of research before you go for a mortgage in Nigeria.
  • Be willing to work for your brand before you hire people to set the tone for your brand voice
  • the percentage to which you will save and invest depends on numerous factors.

The final session

The final session by  Chinny Ogunro.

  • What is my life purpose in terms of a goal and not an action?
  • As you are pursuing your passion, how can you provide value and how can you make money?
  • Hard work will beat talent every single time.
  • Face your front: Focus on your own goals and do your own work.
  • Build up those around you.
  • what sacrifices do you need to make to want a family?
  • Deliberately execute to live the life you want.
  • Be your own goals.
  • What’s your goal.. focus on that not the action to reach the goal.

This was not as short as I thought. lol.

There was a Johnny Drille Performance after the talks which was a lot of fun from the pictures I saw cos I had to leave during his performance.

Ladies also got to network, chill, engage in mentorship sessions with the speakers and eat party rice.

Would I go to a Femfunds 3? yes I would and I would get everyone in my circle to go too…

Thanks to Glory Osei and her team for putting this together… Ile ise yin oni jo na o.

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