WHAT GOT YOU HERE WONT GET YOU THERE

“WHAT GOT YOU HERE WON’T GET YOU THERE”! Marshall Goldsmith A SPECIAL PRESENTATION TO BUSINESS/INVESTMENT CLUBS OF DFCU BANK FEBRUARY 2010

EVERYONE INFLUENCES SOMEONE! Expand the Circle of acquaintances

Integrity Nurturing Faith Listening Understanding Enlarging Navigating Connecting Empowering Builds relationships on trust Cares about people as individuals Believes in people Values what others have to say Sees from their point of view Helps others become bigger Assists others through difficulties Initiates positive relationships Gives them the power to lead. Think Influence Not Position!!

Session agenda BUSINESS & • THE CHALLENGES INVESTMENT • THE OPPORTUNITIES NETWORKING • THE STRATEGIES “When the beat of the Drum changes, so must the step of the Dance” African Proverb

A: THE CHALLENGES!

Poor or Not Planning Facts of Life 100 men aged 25 started life, they were all ambitious for success. Some came from wealthy families some were poor; some have just finished school, others have been working for years. 10 1 “These People didn't plan to fail…they failed to plan” 1 LUXURY 1 10 4 3 1 2 1 COMFORT 70 65 46 5 0 5 5 BASICS 15 30 54 34 16 10 years 20 years Later @ 35 Later @ 45 20 30 years Later @ 55 36 CHARITY 63 40 years Later @ 65 DIED 50 years Later @ 75

Challenge 1: To start and grow = Movement

Challenge 1: Movement = Motivation Direction Structure Motive Goals Resources Objectives Systems Plans Procedures Desire Passion Purpose

Challenge 2 No enforcement of Equal share ownership scheme • Frequency of • Geopolitical shocks Bankruptcies • Regulatory upheavals • Few networked businesses • Cost efficiency • Fragile success • Innovation • Reduced profit • Risk management • Technological discontinuities

Challenge 3: Uganda is ranked No. 156 out of 179 economies (Kenya is 144 out of 179) Human development Index = 0. 49 (0 -1, 1 is best) Population is 31. 9 million (Kenya’s population is 38. 9 million) Source: 2008 Competitiveness Forum

The 15 most Problematic factors of starting, doing and remaining in business 1. 2. 3. 4. 5. 6. 7. 8. Access to financing Corruption Infrastructure Tax rates Poor work ethic Inefficient bureaucracy Inflation Tax regulations 9. Policy Instability 10. Inadequately educated workforce 11. Foreign currency regulation 12. Crime and theft 13. Restrictive labour regulations 14. Poor public health 15. National savings rate

Challenge 4: More fickle Too willing to complain More Choosy The New More cynical Customer discriminative More free Thinking More individualistic experimental

Challenge 5: • Limited harnessing of productive synergies beyond money, business and investment Coming together Working together Staying together

B: THE OPPORTUNITIES: Plotting a way out of Stagnation!! “ I am never down; I am always either up or getting up” John Maxwell

Uganda’s GDP is $16 bn, Kenya’s GDP is 30 bn, Tanzania’s GDP is 23 bn Share, Work, Grow through Business and Investment Clubs

What is a club? • Corporation • General partnership • Limited liability What's new? What's next?

Imagination Innovation (Creativity) Information Members Insights Ideas “None of us is smarter than all of us” – African Proverb

How does a club start , Work, Survive and Prosper- GIRAFES Ownership /Goals, Philosophy approach All women, All men clubs Governance Equity Information (Fairness) Finances “ When Ideas and people clash, Miracles happen!!” The club Risks TWRs MWRs ANGELS (expertize) Technical feasibility, Market feasibility Finance feasibility Team skills and desire

Benefits of a Club: Faith Fun 7 Fs You can BE more! You can DO more! You can HAVE more! You can LOVE more! You can LAUGH More! Family Food Firm Finances Fitness Friends (Intergeneration al wealth)

C: THE STRATEGIES NEXT STEPS AND ACTION COMMITMENTS “If you don’t have a Plan for the future, the future will have a plan for you!” PK

STRATEGIES Opport 1. If you had an opportunity to meet and talk to the CEO of DFCU Bank today, what three important changes would you want him to effect in the bank’s relationship with you as soon as possible?

1. Investment club software Performance reporting 2. Regular member Forum 7. Online Advisories 6. Quarterly Interface meetings with stakeholders/ Partners • Workshops • Conferences 3. Peer breakfast meeting 5. Family day and other events 4. Learning and Development

Opport 2. What could bring down a Business/Investment club? C + C + C = Cash - Cancer

Performance Opport. 3: a)The Five Stages of Decline Stage 3 Denial of Risk & Peril Stage 2 Undisciplined Pursuit for More Stage 4 Grasping for Salvation Renewal Stage 1 Hubris Born of Success Adopted from How the Mighty Fall & Others Never Give in Jim Collins 2009 Stage 5 Capitulation to Irrelevance or Death Time

80% of your time Work where you are strongest 15% of your time Work where you are learning (Business/Investment) 5% of your time Work in other necessary areas

b) Creating a new Future: “Rethinking and Reshaping a New Normal!” (PWC-2009)

What shoul d you Elimi nate? Shared Values Strategy Structur e Systems Staff Style Skills What should you Reduce ? What should you Increase ? What should be Created ? What Assista nce is Needed ? What can you Leverag e upon? Timeline s?

AFRICAN REALITY Every morning in Africa, A gazelle wakes up. It knows that it must run faster Than the fastest lion or it gets killed. Every morning in Africa, A lion wakes up. It knows that it must outrun the slowest gazelle Or it will starve to death. Therefore! It doesn’t matter whether You are a lion or a gazelle, When the sun comes up You’d better be running!

REFLECTION “ The most important thing in life is NOT to capitalize on our gains. Any fool can do that! The really important thing is to Profit from our Losses! That Requires INTELLIGENCE and makes that makes a difference between a man of sense and a fool!” William Bolitho

Parting Thought “ A Winner knows how much he still has to learn even when considered an expert by others. A loser wants to be considered an expert by others before he has learned enough to know how little he knows” Sydney Harris

Take the Plunge Get up! Get Out! Get Going!! 32

My thinking is modeled by; Prof. Daniel Goleman Social Intelligence. Prof. Marshall Goldmith; What Got You Here , Wont Get You There! Prof. James Waldroop & Prof. Timothy Butler; The 12 Bad Habits that hold Good people Back. Dr. Steve Covey The 8 th Habit of Highly effective people. Managers, Not MBAs Prof. Henry Mintzberg American Management Association

Chris Warner & Don Schminche High Altitude Leadership Jim Collins Built to last Prof. John Kotter Our Iceberg is melting. Prof. Gary Hamel Resilience Strength Finder Tom Rath

Thank You!! &