Thursday, 24 October 2013

How Failure Made These Entrepreneurs Millions

How Failure Made These Entrepreneurs Millions

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When Steve Blank appeared on the cover of Wired magazine 19 years ago, his company then, Rocket Science Games, was expected to revolutionize the videogame industry. At the time, Blank didn't let the skepticism of critics faze him.
"I thought I was a genius," he says. Three months later, when he called his mother to let her know he was about to lose $35 million in investor funding, he wasn't feeling quite so genius anymore.
"I had lots of choices, including that I could have quit," he says. "Learning from that failure for me was one of the best experiences of my life." And learn he did. In 1996, Blank founded the startup E.piphany, which went on to earn $1 billion for each of its investors.
In the past 10 years, says Blank, the culture around entrepreneurship has become increasingly failure-friendly. Serial entrepreneurs in Silicon Valley hop from one failed business to the next and billionaire entrepreneurs like Richard Branson wax on publicly about their failures almost as much as their successes. Still, "no one likes to fail," says Blank. "We are hardwired for success."
But what if you could actually use failure to help you succeed? Here are five keys to start failing your way to success:

1. Call failure something else.

1. Call failure something else.
When was the last time anyone got hired for a senior-level position without any experience? For serial entrepreneurs, "experience" is simply another word for "failure," says Blank. By labeling a failed effort an opportunity to expand your knowledge base, you're framing it in a more positive light, allowing yourself to add to your credibility as a more seasoned entrepreneur.

2. Use failure as a stepping stone.

2. Use failure as a stepping stone.
With every failure, identify what you know you did wrong and be conscious not to repeat your mistakes. This will bring you one step closer to success, says Steve Siebold, a Palm Beach, Fla.-based consultant who works with corporations and entrepreneurs on mental toughness and critical thinking.
"I've never heard [a millionaire entrepreneur] say they hit it right the first time out," says Siebold, whose book How Rich People Think (London House Press, 2010) is a culmination of nearly three decades of interviews. "The bigger they are, the more they've typically failed."

3. Never fail alone.

3. Never fail alone.
Entrepreneurs like to be trailblazers. But make a mistake on your own and you might have a hard time determining what went wrong. Having a partner you trust and respect can turn every failure into an opportunity for collaboration. "A good partner can help you determine what not to do again," says Karl Baehr, director of business and entrepreneurial studies at Emerson College, a private four-year college in Boston focused on communication and the arts.

4. Don't hide your failures.

4. Don't hide your failures.
Be proud that you were brave enough to take a risk in the first place. By being forthright about your mistakes, you open yourself up to learning from others.
Baehr's mentor, Walter Hailey, whose insurance company Lone Star Life Insurance went on to become a Kmart insurance company, used to take an hour-long walk at 5 a.m. every morning with a group of close friends to talk about ideas, successes and failures. "By the time they got back to the house, they had solutions," says Baehr. "They had a plan for the day."

5. Redefine what you want.

Correction: An earlier version of this article misstated when Steve Blank was featured on the cover of Wired magazine. This took place 19 years ago.Revisit and refocus why you got into business in the first place. "Look for your emotional motivators. We are emotional creatures. Logic doesn’t motivate us," says Siebold, who launched five consecutive unsuccessful businesses before he started his current consulting company. For Siebold, that motivator was one day becoming a millionaire, a goal he achieved at age 31. "Most people only half-heartedly decide they want a lot of things. You have to get really clear on what you want," he says. "The question is: How badly do [you] want it?"

3 Life-Changing Habits of High Performers

3 Life-Changing Habits of High Performers


3 Life-Changing Habits of High Performers
Image credit: clomedia.com
When it comes to being successful, high achievers have a number of habits in common. But that doesn't mean you can't be right up there with them.
Here are three qualities all successful people share and how you can make them your own:
1. Say 'no' to distraction. Every. Single. Time. Successful people make better use of their time because they are disciplined goal-setters. I’m referring to those high performers who experience no down-time. Sure, there are vacations and time spent with the family, but that comes after success has been achieved.
Successful people have that same list of tasks to accomplish as anyone else, but the difference is they make time to get them all done with no excuses. They may not enjoy it, but that is irrelevant. What matters is that it gets done. They are disciplined in planning their work and sticking to their plan.
Even when you’ve achieved that level of success, the work doesn’t stop. I am always on the lookout for a great, profitable investment. I might be out with my family, but my brain is always aware of business opportunities around me. I don’t just shut it off when I’m not at work.
2. Read something new everyday. Successful people read constantly, find mentors who can teach them and value new information that can help push them forward. Whatever field you are in, you have to learn before you earn. Learn your product, customers and competition. And then: keep learning.
3. Flaunt your failures like a champ. Fail as many times as you can. Everyone fails. It’s part of life. Too many people take failure as a sign it's time for them to give up. Those people don’t get very far. What sets successful people apart is the ability to get up and give it another go with a better plan for how to be successful the next time around.
If you want to embrace the habits of successful people, you’ve got to make the change within yourself first. 
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Police Arrest Dino Melaye Over BMW Scandal, As Minister Sends Rented Crowd After Anti-Corruption Campaigners

Police Arrest Dino Melaye Over BMW Scandal, As Minister Sends Rented Crowd After Anti-Corruption Campaigners


Dino Melaye leading protesters against the minister of aviation before he was arrested
By SaharaReporters, New York
A group of anti-corruption protesters was today in Abuja confronted by armed hoodlums escorted by the police to frustrate a public protest aimed at forcing the Minister of Aviation, Stella Oduah, to resign from office.
The Minister is facing a public uproar over her scandalous purchase of BMW armored cars from a cash-strapped agency in her ministry.
Dino Melaye, a former member of the House of Representatives, led the protest, but the protesters were attacked by the crowd who claimed they were there to ‘support’ the Minister.
The police arrested several protesters, including Mr. Melaye, saying he was leading an "illegal protest".  He was taken in a car to the office of the Commissioner of Police office where he was taken into custody.
The police also seized vehicles belonging to the anti-corruption protesters, claiming they were obstructing traffic.
A contingent of police officers also prevented the protesters from leaving the Federal Secretariat area where they had gathered for the protest to the Aviation ministry.
Unlike the protesters, the police did not harass the armed hoodlums.

Ojudu Describes Panel Of Inquiry Constituted To Investigate Oduah As Another Waste Of Resources

Ojudu Describes Panel Of Inquiry Constituted To Investigate Oduah As Another Waste Of Resources

Senator Ojudu
By SaharaReporters, New York
Senator Babafemi Ojudu has described the setting up of an administrative panel of inquiry by the presidency to investigate the allegation against the Minister of Aviation, Mrs. Stella Oduah, as a wild goose chase and another waste of time and dubious waste of the resources of the Nigerian nation.
There has been a serious public outcry against the purchase of two armoured cars at the cost N225 million by the Nigerian Civil Aviation Agency (NCAA) for the Aviation Minister.
Ojudu, in a statement in Abuja, said there are several financial crimes and corrupt practices agencies which are constitutionally empowered to carry out such investigations and make their reports available to the President. He wondered why the president would set up a panel of inquiry, which colouration already tells a lot about the conclusions it would reach, to usurp the powers of these agencies, adding that the only reason for such is that Mr. President does not have the stomach to really allow a proper investigation of the allegations against Oduah who had been said to have played a pivotal role in the president's electoral victory in 2011.
He contended that judging from previous committees that were set up in similar fashion, it would appear that the Jonathan presidency was pooling another wool over the eyes of Nigerians, adding that if it were so, President Jonathan then really needs to change his strategy as Nigerians are wiser now and would no longer be deceived by such committees whose members are mostly always beneficiaries of the rot that had come to characterise the Jonathan presidency.
Explaining that the laws regarding such situations are clear. Ojudu said that in accordance with the law, spending public funds without budgetary provision attracts 3 years in jail or a fine of N100, 000 while contracts involving public funds without following due procurement processes, just as is the case in the cars purchased for the Aviation Minister, attracts a minimum of 5 years in jail and a maximum of 10 years imprisonment.

He added that in spite of her inability to reposition the aviation sector, it was unthinkable, fiscally irresponsible and criminal that cars could still be bought to "protect her from phantom threats to her life" with the proceeds of the Nigeria Civil Aviation Agency.
Ojudu said: "This is in spite of the unassailable fact that no existing record shows that the provision for the purchase of the cars were made in the NCAA budget or that of the Aviation Ministry. Out of nowhere, Mrs. Stella Oduah, without budgetary provision, had an agency under the supervision of her ministry buy cars for her. This, no doubt, has upped the sad comedy going on in the Jonathan administration's Theatre of the Absurd."
Ojudu said he was, however, sure that nothing would come out of the "so-called panel of inquiry" set up by the Jonathan administration, an action he said had clearly demonstrated to Nigerians once more that the maxim of the Jonathan government is that "all animals are equal, but some are more equal than others."
He said if the PDP-led FG continues on this path, the country may just be heading for the precipice, a situation which definitely cannot bode well for anyone, hence the urgency to act by ensuring that corrupt public officials are properly made scape-goats to deter others who may want to do same and also to demonstrate strongly that no one, position or status notwithstanding, is above the law.

Kano State Fixes LG Election May 17, 2014, Anti-Corruption Group Berates Delay

Kano State Fixes LG Election May 17, 2014, Anti-Corruption Group Berates Delay

By SaharaReporters, New York
The Kano State Independent Electoral Commission (KANSIEC) has finally set May 17, 2014 as the date for local government elections, saying the sum of N1.5 billion allocated to organize the election was too small.
The announcement of the electoral schedule was immediately met with controversy. The Grassroots Anti-Corruption Awareness and Network Initiatives (GAANI) faulted the proposed date for the election.
Addressing pressmen today in Kano, the state capital, KANSIEC chairman Sani Lawal Malumfash blamed the security challenges facing the state for the delay in conducting the election. He also said the recent registration of All Progressives Congress (APC) as a political party was a factor in the delay. He defended the choice of the election date, adding that the goal was to give the contesting parties enough time to structure and consolidate themselves. He added that the election would help actualize grassroots democracy.
Mr. Malumfash noted that the proposed date would also give KANSIEC enough time to procure ballot materials, meet with the major stakeholders, and embark on an extensive voter education campaign. He disclosed that the campaign period for the election is to run from Sunday February 16 to midnight May 16, 2014. The commission stated that May 24, 2014 would be the date for any runoff elections.
Mr. Malumfash told reporters that his commission would request for more funds, describing its current approved budget of N1.5 billion as grossly inadequate. He stated that the current budget was not enough to take care of all logistical preparations for the election. He pledged that the commission was determined to organize and conduct a free, fair and credible election, soliciting the cooperation of all stakeholders, including political parties, youth organizations, security agents, and the media.
He said the commission would sanction any political party that pasted posters on government buildings, mosques, churches, or schools.
In a response to the commission’s plans, the chairman of GAANI, Muhyi Magaji Rimigado, said there was no sincerity in the KANSIEC. He condemned the commission’s inability to organize local government elections two years after the inauguration of the present administration. He accused the state of violating the constitution by handpicking and imposing interim management officers to run local governments for over two years.
Mr. Rimigado noted that Kano State Governor Kwankwaso had for over two years used the deception of insecurity to justify the perpetuation of the illegal running of local governments by handpicked cronies. He said the action worked to the detriment of millions of state residents.

Peace Shattered In Mozambique; Dinkas Seek Sovereignty Over Abyei State; Ghanaians March Against GMOs; Recalling Samora Machel

Peace Shattered In Mozambique; Dinkas Seek Sovereignty Over Abyei State; Ghanaians March Against GMOs; Recalling Samora Machel

By Global Information Network (GIN)
A DECADE-LONG PEACE IN MOZAMBIQUE NOW IN PERIL

Oct. 22 (GIN) – Mozambique, profiled as the next Norway enjoying a windfall from its  recent finds in off-shore gas, may be headed for troubled waters instead.

A fragile peace has reigned over the southeast nation since a treaty in 1992 ended a 16 year long civil war. A pawn in the Cold War of the great powers, the coastal nation was heavily armed with U.S. and Russian weapons. Over a million people perished in the course of the war.

Still one of the poorest nations on earth, the détente between the Frelimo government and the opposition Renamo group blew up this month when government forces overran the jungle headquarters of Renamo leader Afonso Dhlakama, who escaped.

"Peace is over in this country ... The responsibility lies with the Frelimo government because they didn't want to listen to Renamo's grievances," Renamo spokesman Fernando Mazanga told Reuters.

Renamo demands more representation in the armed forces and changes to the electoral law.

It is also possible that Renamo hopes to win a larger seat at the table when contracts are re-negotiated with multinational companies. Initial contracts, say some experts, gave away the store, giving foreign companies 15-year tax exemptions and mining and exploration licenses which they were free to trade.

Currently, a small elite associated with the ruling party and with strong business interests, dominates the economy.

Adriano Nuvunga, head of the Center for Public Integrity in the capital city Maputo, fears his country may not get the share of wealth it deserves. "There isn't a way to find out whether the government has done good business," he says. His concerns were rejected by the National Petroleum Institute (NPI). "We have a very transparent system," said NPI chief Arsenio Mabote. "The environment in Mozambique is there for companies to invest without fearing that there is corruption.

"You can find documents and model contracts that we negotiate on our website. We have nothing to hide."

Municipal elections are scheduled for Nov. 20, and presidential and parliamentary elections are to be held on Oct. 15 the following year. w/pix of Renamo members

DINKAS TO CHOOSE NATIONAL IDENTITY IN CONTENTIOUS VOTE

Oct. 22 (GIN) – Members of the Dinka Ngok ethnic group are returning en masse to their homes in the oil-rich Abyei region, intent on a unilateral referendum on national identity that may have explosive consequences.

The exodus began after Sudanese leaders failed to schedule an internationally-backed referendum this month. It would have allowed all Abyei citizens to choose whether to be part of Sudan or South Sudan. Juba (South Sudan) says it supports a referendum, Khartoum is opposed and favors a negotiated political settlement.

Thousands are reported to be braving rivers of mud and bumpy truck rides while spending their savings to make the trip.

Two groups, the Misseriya, semi-nomadic people of Arab origin and the Ngok Dinka Abyei live in Abyei but the Misseriya are often out of the region, grazing cattle.

But according to South Sudan’s foreign minister Barnaba Marial Benjamin, there were few if any Messeriya in Abyei Dinka Ngok territory. “If there are any other residents, it could be some few Merreriyas, it could be some few Sudanese or few South Sudanese who could be there. But the territory is specifically for the Nile Ngok Dinka," Benjamin said.

His claim was angrily refuted by Misseriya’s paramount chief Mukhtar Babu Nimir who threatened to take action, including war, if a vote was taken without their participation.

"We will not accept it,” he said of the proposed plebiscite. “We want the government of Sudan to be clear with us," adding "if it fails, we will play our part in the liberation of our land in war and peace."

Currently, some 4,000 Ethiopian-led UN peacekeepers patrol Abyei.

Meanwhile, a media blackout on the Abyei referendum in South Sudan has been imposed by the information minister, Michael Makuei Lueth. State-run radio and TV cannot cover or publish any announcements and mobilization campaigns in support of the proposed referendum, he said, “because some people show up at the station to talk unnecessarily."

GHANAIANS IN THE MIX OF THE GMO DEBATE

Oct. 22 (GIN) – Members of Food Sovereignty Ghana (FSG) and other environmental groups took the issue of food security to the streets in a march through Accra that linked up virtually with seven African countries from South Africa to Kenya.

It was the second annual march against genetically modified seeds, bioengineered food and its corporate backers, coupled with the perceived risks to small farmers incomes and to health.

This month, activists in Kenya, Ghana, Namibia, Nigeria, Senegal, Egypt and South Africa came out in force. Activists in Accra carried signs saying, “GMO will make Ghanaian farmers poor” and “Our Food Under Our Control!!!”

Public opposition to GM crops has grown in recent years. Critics assert that DNA-altered crops require massive chemical inputs which destroy local biodiversity and poison the water tables; create superweeds; and cause organ damage, sterility, and diabetes and obesity in mammals. Nevertheless, the Ghana government continues to lean toward GMOs and a field trial of GMO cow peas is currently underway.

Perhaps most important to African farmers, imported GM seeds are the intellectual property of the multinationals and cannot be saved for future use as is the practice of small farmers worldwide. Seed purchases every year versus the saving of seeds year to year are a heavy if not unsustainable burden on small farmers, warns Food Sovereignty Ghana.

The “control of our resources by multinational corporations and other foreign entities,” must be avoided, FSG said on their Facebook page.

They cited a recent UN report which noted that hunger is not caused by a food shortage but by “a lack of purchasing power and/or the inability of the rural poor to be self-sufficient.”

“The engagement in the market was very surprising and drew a lot of curiosity,” said Ras Aswad Nkrabea, the group’s director of mobilization. “It resulted in us being invited to meet with the market queens in the near future to make sure they are well informed about these issues.”

RESISTANCE LEADER SAMORA MACHEL - A “STATESMAN AND SOLDIER”

Oct. 22 (GIN) – Twenty-seven years after his death, the celebrated leader of Mozambique and its first president, Samora Machel, remains a symbol of resistance and hope

Machel -- who died on Oct. 19, 1986 – was called a thoughtful and decisive leader who died too soon.

He died in a plane crash while on his way back from the Lusaka summit in Zambia to be in time for the birthday of his wife, Graca Machel. The Tupolev 134 plane went down at Mbuzini, a village in what is now eastern Mpumalanga. More than 30 others perished in the crash.

Many believe that the South African apartheid regime orchestrated the incident although a commission that investigated the incident blamed pilot error.

According to Graca Machel in testimony before the Truth and Reconciliation Commission, at a Malawi government crisis meeting at the time, the possibility of assassinating Machel had been raised. The report does not make clear the source of the rumor.

Graca Machel also told the hearing that her husband had been subject to assassination attempts prior to the crash.

Less than fifteen years later - but in another South Africa - Nelson Mandela stood in Mbuzini and gave a moving speech in honor of "a statesman, soldier and intellectual who we claimed as our leader too".

Unveiling a monument to Machel in 1999, Mandela reflected on the unresolved mystery of the crash and the hope for transparency and justice.

“It is painful that our quest to understand the causes of the crash remains unfinished. The work of the Truth and Reconciliation Commission, imperfect as it may be, has laid a foundation ... It has taken us further towards our goal of bringing a legitimate and credible conclusion to the uncertainties about the event on this hillside some twelve years ago.”

At the end of 2012, the Hawks announced that they were finally launching an investigation into the accident. That was in December. If there has been any substantial progress since then, it has not been made public.

Tuesday, 22 October 2013

Nigeria Ranks Bottom 10 In The World In Almost Everything: To Act Or Give-up? By Dr. Peregrino Brimah

Nigeria Ranks Bottom 10 In The World In Almost Everything: To Act Or Give-up? By Dr. Peregrino Brimah

By Dr. Peregrino Brimah
Below is a compilation of just a few indices in which Nigeria ranks proudly at the bottom 10 in the entire world:
#8 – General Corruption: Nigeria is 8th most corrupt nation in the world according to Transparency International 2013 Global Corruption Barometer.
#4 – Police corruption: Nigeria ranked 4th highest in the world for perceiving the police as corrupt, according to the same Transparency survey.
#1 – Being born: The Economist Intelligence Unit, EIU ranked Nigeria the worst place to be born in 2013.
#4 – Population in Slavery: Nigeria with up to 740,000 in slave bondage ranks 4th in the world in modern slave nations, according to the just released Global Slavery Index. Fitting in after Pakistan.
#1 –High Sea Piracy: As the world records lower global stats, thanks to Nigeria, West Africa is now the world piracy capital. According to the International Maritime Bureau reported Nigeria had 11 of 66 global incidents for the first quarter of 2013. 966 sailors were attacked last year off West African coasts.
#9 – Maternal mortality: According to World Bank data, Nigeria ranks 9th worst in the world with 630 deaths per 100,000 from 10 years data collected from 1990-2010.
#2 –Software Piracy:  The 2011 Global Software Piracy Study conducted by Business Software Alliance ranked Nigeria 2nd in the world, with software piracy costing the nation a whopping $251m (N39.4bn).
#1 – Exam Malpractice: Director General National Orientation Agency (NOA) Mr. Mike Omeri whose agency partners with Exam Ethics Marshals International, in 2012 ranked Nigeria #1 in the World Exam Malpractice Index.
#11 – Good Governance: Nigeria ranked 4th worst in West Africa, 13th of 16, in Safety & Rule of Law, Participation & Human Rights, Sustainable Economic Opportunity, and Human Development, in the 2013 Ibrahim Index of African Governance. Nigeria ranked 41st out of the 52 countries listed overall.
#1 – Bribe:  Nigeria ranks highest for Bribe in the world on the Foreign Corrupt Practices Act (FCPA) interactive map, online at- fcpamap.com
#1 – VVF: According to United States Agency for International Development, USAID, Nigeria has the highest prevalence of Vesico-Vaginal Fistula in the world, with over 200,000 patients and an annual incidence at 20,000. That is 40% of the global cases in Nigeria alone.
#7 – Terrorism: Global Terrorism Index (GTI) ranks Nigeria the 7th worst in the world for terrorism over the last 10 years, according to its 2012 assessment.
#2 – Road Traffic Accidents (RTA): In 2012, Nigeria ranked second highest in road traffic accident (RTA) fatalities among the 193 countries in the world according to the Minister of Health.
#1 – Aviation Accidents for 2012: In 2012 with over 153 onboard deaths and more on the ground, in the Dana Air Boeing MD83 airline accident, Nigeria had the world’s worst aviation accident.
#4 – Worst City: Despite aggressive transformation by the Lagos government, the EIU in its 2013 annual survey of 140 major metropolises ranked Lagos the 4th worst city in the entire world.
#7 – Growing Old: Global AgeWatch Index 2013 ranking of 91 countries, put Nigeria at #85; the seventh worst country to grow old in. Nigeria in the report ranked third lowest for income security.
#2 – HIV/AIDS: With an estimated 3.4 million living with the virus, the National Action Committee on Aids (NACA) put the nation as the second worst in the world.
#2 – Electricity: Nigeria is ranked by the World Bank as the 2nd worst in the world in power (electricity) supply. According to the report, 82.4 million Nigerians, half the nation lived without power. India is #1.
#1 – Kidnapping: In the first half of 2013, Nigeria had the most kidnapping attempts of any nation in the world, according to NYA International organization of Crises prevention and response. Recording 26%, over a quarter of all incidents. Mexico was second with 10% and Pakistan 3rd with 7%.
#1 – Oil Spills Worldwide: From Vanguard on November 14, 2012: Nigeria has highest oil spills in the world – Senate; the nation records the highest number of oil spill incidences among oil producing countries with no penalty regime attached to such oil spills.
#4 – Oil Spillage Outages: Vanguard reported on October 8th, 2013, that with more than 200,000 barrels per day (bpd) of crude oil being lost to pipeline vandalism, Nigeria ranks 4th worst in the world in oil spillage outages, according to Deutsche Bank and other shipping and industry estimates. Libya, Syria, Iran and lead Nigeria in outages for obvious reasons including recent wars and US sanctions at Iran.
But there is a glimmer of hope in it all. Nigeria actually does take the first position in something great:
#1 – Highest Paid Legislators: The Economist magazine revealed that Nigerian federal legislators are the highest paid in the world with an annual basic salary of $189,500 (N30.6 m).
With the current state and direction of both the government and the people of Nigeria—Africa’s  largest nation and the world’s most populated black country—the nation is not headed for improvement on these shameful rankings, but more predictably to slide further down the ladder into the darkest crevices of the black hole of Calcutta.
The question is: To act or to give-up? And the follow-up question is: If we the people decide to do something, what should and can we do?
Dr. Peregrino Brimah
http://ENDS.ng [Every Nigerian Do Something] Email: drbrimah@ends.ng Twitter: @EveryNigerian