YOU DETERMINE WHAT YOU ARE WORTH
One of the greatest truths is that life is meant to be enjoyed. God put us in the world so that we celebrate the talents, skills, abilities and the creativity that he gifted us.
We spend the majority of our time at work and if you are not enjoying what you do at work you will end up miserable. A miserable employee will not be productive and will be a highly inappropriate billboard to project the company’s image.
On the other hand a super-charged employee who is thoroughly enjoying what he does is an asset to the company and looks forward to going to work every single morning. Happiness at work and finding joy in what you do is to a large extent a psychological thing.
Researches that were done indicate that more and more people would rather have fulfilling roles in their companies than a fat pay-check on its own. The researches underscore that an employee’s pursuit is job satisfaction and inherently happiness.
When I quit my salaried job for a commission based job all my friends thought I was mad. Despite being reasonably salaried I didn’t entirely enjoy my work. And the danger with that is that you will slowly undersell yourself more and more until you become redundant.
I was so much hell-bent on finding a role in which I could use and apply my skills and my talents. And guess what, I found out the joy of being in sales; I determine my paycheck, play golf, can find time to pen down this article, working on my first book. I am able to do things that I have always wanted to do and I am having fun.
If you are sitting there at your desk and not enjoying what you are doing. If you are earning a meagre salary and very unhappy about your boss, then quit your job and look elsewhere! If you are unhappy about your job you become disengaged and less productive. Not only are you a cost to the company, you will undersell yourselves and kill you career.
When you stop enjoying what you are doing you need to immediately switch because you will become dysfunctional. The truth of the matter is that whether you are an accountant, a law firm everybody is in sales. An accountant is selling a set of key skills in exchange for a salary. A lawyer does the same; despite being trained in the same institutions some lawyers are more expensive than others. It is because everyone is responsible for their self-worth.
Everyone is in the business of selling products, skills and services, yet the majority of people are acutely unaware that the world revolves around sales. If you from today start considering yourself as a salesperson offering a set of skills in exchange of a salary and then you will automatically put yourself in great position to sell yourself for the correct price.
The more you improve those skills the more expensive you become. You become an improved product and therefore you must be acquired at an improved price. If you spend time whining about your boss you will become an unattractive product.
How much you earn is an exact equivalent of the price tag that you put on yourself. Your current salary is what you are worth. If you think you are worth more and your pay does not commensurate your talents and abilities then you have under-priced yourself.
Here are five ways to regain your self -worth if you think you are under-selling yourself
1. Determine you career path
If you know exactly where you want to end up in your company progression ladder, the more you will be motivated to achieve that. Look at the requirements of your dream position and work yourself to be better and better every day. Develop and work on the skills that are necessary for you to be successful in your dream position.
2. Self improvement
There is so much information in the internet that just by reading thirty minutes everyday something related to your career, you can become one the best people in your position. If you commit yourself to improving yourself by attending seminars, listening to audios you will become better and better. Just by reading every day you can acquire so much knowledge that it equates to a formal certification.
3. Personal brand
Your interaction with your boss, your colleagues and customers creates a perception about you. Over time this creates a mental perception to your boss and colleagues about your abilities. You are largely responsible for what they think about you and by carrying yourself in particular you can influence how they think about you.
Become committed to what you do. Dive into any project and finish it in time or before. Successful people in their careers are people that come early to work and are usually the last to leave. They impress by delivering the results and are committed to completing their tasks.
Volunteer for projects and start showing your leadership abilities even before you get the position that you want. By the time you get there leading people will not be strange. Learn to be able to persuade people to see things in your way and acknowledge everyone’s contribution.
See you next week.
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Grit divests from Letlole La Rona
Grit Services Limited, a member of the pan African real estate group, London Stock Exchange listed Grit Real Estate Income Group is divesting from Letlole La Rona Limited (LLR), a local real estate company established by government investment arm Botswana Development Corporation over a decade ago.
The Board of Directors of Letlole La Rona Limited this week announced in a statement to Unitholders that Grit Services Limited (‘Grit’) has informed them of its intention to exit its investment in the company.
Grit has been a material shareholder in LLR since 2019. On 07 March 2023, Grit sold 6 421 000 linked units, representing 2.29% of the Company’s total securities in issue, at a market value of BWP 22 537 710.
This trade follows previous sales of 6.79% in December 2022, as communicated to Unitholders on 10 January 2023, as well as a further sale of 4.78% (representing 13 347 068 linked units) on 24 February 2023 to various shareholders.
In aggregate, Grit has sold 13.9% shareholding in the Letlole La Rona between December 2022 and March 2023, resulting in current shareholding of 11.25% in the Company.
Letlole La Rona said in the statement that the exit process will take place in an orderly manner so as to maintain stability of the Company’s share price.
The statement explained that Grit’s sale of its entire shareholding in LLR is in line with its decision to exit investments where it does not have majority control, or where it has significant exposure to currencies other than US dollar, Euro or hard-currency-pegged revenue streams.
“Grit has announced similar decisions pertaining to certain of its hospitality assets in Mauritius recently. The Company would like to advise Unitholders that it remains focused on long-term value delivery to all stakeholders” LLR said
In July last year as part of their Go-to-Africa strategy Letlole La Rona acquired an initial 30% equity stake in Orbit Africa Logistics, with an option to increase this investment to 50%. OAL is a special purpose vehicle incorporated in Mauritius, owning an industrial asset in a prime industrial node in Nairobi, Kenya.
The co-investment was done alongside a wholly owned subsidiary of London listed Grit. The Orbit facility is situated on a prime industrial site on Mombasa Road, the principal route south of Nairobi center, serving the main industrial node, the port of Mombasa and the industrial town of Athi River and is strategically located 11 kilometers south of the international airport and 9.6 kilometers from the Inland Container Depot.
Grit shareholding in Letlole La Rona was seen as strategic for LLR, for the company to leverage on Grit’s already existing continental presence and expand its wings beyond Botswana borders as already delivered by Kenya transaction.
Media reports have however suggested that LLR and Grit have since late last year had fundamental disagreements on how to go about the Go-to-Africa strategy amongst other things, fuelled by alleged Botswana government interference on the affairs of LLR.
Government through LLR founding shareholder – Botswana Development Corporation has a controlling stake of around 40 percent in the company. Government is the sole shareholder of Botswana Development Corporation.
Letlole La Rona recently released their financial results for the six months ended December 2022, revenue increased by 4% to P50.2 million from P48.4 million in the prior comparative six months, whilst operating profit was up 8% to P36.5 million. Profit before tax of P49.7 million was reported, an increase of 8% on the prior comparative six months.
“We are encouraged by the strong results, notwithstanding a challenging economic environment. Our performance was mainly underpinned by annual lease escalations, our quality tenant base and below average market vacancy levels, especially in our warehouse portfolio,” Kamogelo Mowaneng, Letlole La Rona Chief Executive Officer commented.
LLR reported a weighted average lease expiry period of 3.3 years and escalation rates averaging 6.8% per annum for the period ended 31 December 2022.Its investment portfolio value increased by 14% year-on-year to close the period at P1.4 billion, mainly driven by the acquisition of a 30% stake in OAL in July 2022.
The Company also recorded a significant increase in other income, predominantly due to foreign exchange gains on the OAL shareholder loan. “We continue to explore pipeline opportunities locally, and regionally in line with our Go-to-Africa strategy and our interest remains on value-accretive investments,” Mowaneng said.
An interim distribution of 9.11 thebe per linked unit was declared on the 6th of February 2023 for the half-year period to 31 December 2022, comprising of a dividend of 0.05 thebe and debenture interest of 9.06 thebe per linked unit which will be paid to linked unit holders registered in the books of the Company at the close of business on 24 February 2023.
Stargems Group establishes Training Center in BW
Internationally-acclaimed diamond manufacturing company StarGems Group has established the Stargems Diamond Training Center which will be providing specialized training in diamond manufacturing and evaluation.
The Stargems Diamond Training Institute is located at the Stargems Group Botswana Unit in Gaborone.
“In accordance with the National Human Resource Development Strategy (NHRDS) which holds the principle that through education and skills development as well as the strategic alignment between national ambitions and individual capabilities, Botswana will become a prosperous, productive and innovative nation due to the quality and efficacy of its citizenry. The Training Centre will provide a range of modules in theory and in practice; from rough diamond evaluation to diamond grading and polishing for Batswana, at no cost for eight weeks. The internationally- recognized certificate offered in partnership with Harry Oppenheimer Diamond Training School presents invaluable opportunities for Batswana to access in the diamond industry locally and internationally. The initiative is an extension of our Corporate Social Investment to the community in which we operate,” said Vishal Shah, Stargems Group Managing Director, during the launch of the Stargems Diamond Training Center.
In order to participate in this rare opportunity, interested candidates are invited to submit a police clearance certificate and a BGCSE certificate only to the Stargems offices. Students who excel in these programs will have the chance to be onboarded by the Stargems Group. This serves as motivation for them to go through this training with a high level of seriousness.
“Community empowerment is one of our CSR principles. We believe that businesses can only thrive when their communities are well taken of. We are hoping that our presence will be impactful to various communities and economies. In the six countries that we are operating in, we have contributed through dedicating 10% of our revenues during COVID-19 to facilitate education, donating to hospitals and also to NGOs committed to supporting women and children living with HIV. One key issue that we are targeting in Botswana is the rate of unemployment amongst the youth. We are looking forward to working closely with the government and other relevant authorities to curb unemployment,” said Shah.
Currently, Stargems Group has employed 117 Batswana and they are looking forward to growing the numbers to 500 as the company grows. Majority of the employees will be graduates from the Stargems Diamond Training Center. This initiation has been received with open arms by the general public and stakeholders. During the launch, the Minister of Minerals and Energy, Honorable Lefoko Moagi, stated that the ministry fully endorses Stargems Diamond Training and will work closely with the Group to support and grow the initiative.
“As a ministry, we see this as an game changer that is aligned with one of the United Nations’ Six Priority Sustainable Development Goals, which is to Advance Opportunity and Impact for Diversity, Equity, and Inclusion (DEI). What Stargems Group is launching today will have a huge impact on the creation of employment in Botswana. An economy’s productivity rises as the number of educated workers increases as its skilled workmanship increases. It is not a secret that low skills perpetuate poverty and widen the inequality gap, therefore the development of skills has the potential to contribute significantly to structural transformation and economic growth by enhancing employability and helping the country become more competitive. We are grateful to see the emergence of industry players such as Stargems Group who have strived to create such opportunities that mitigate the negative effects of COVID-19 on the economy,” said the Minister of Minerals and Energy.
Food import bill slightly declines
The latest figures released by Statistics Botswana this week shows that food import bill for Botswana slightly declined from around P1.1 billion in November 2022 to around P981 million in December during the same year.
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