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Career Lessons from the lives of King David and Prime Minister Joseph

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Back in the days, technology was very far behind that what we refer to today as CurriculumVitae barely existed. As things progressed, CVs came into being to the point where they were considered as Sacred documents, meant only for those who had the POWER to change your life. Today, people take great pride in brandishing their CVs for all to see to the point where imaginary achievements are created and ordinary things stretched to make them look like accomplishments. In this piece, I look at career lessons in the lives of some prominent individuals David Joseph who had no ‘CVs’ but landed some of the most prominent jobs in the land and how they did it.

Audition for the job while it is yet to come.

In the Bible, David never applied to be a King’s musician or a Giant Killer in the midst of war. He prepared himself for this (unconsciously) without ever knowing when the opportunity would come or better still by doing ordinary things with passion and commitment.

Joseph went from prison to Prime Minister simply by interpreting a dream because he had mastered the art of dreaming and interpreting dreams. He never hesitated sharing his dreams with his family despite the envy and hatred it brought him from his family, finally landing him in slavery and then prison from where he would emerged as the most senior official in the land after the king.

What will cause you standout in your career is a mixture of the right skills and character. Skills alone won’t take you far, neither would character on its own; though a good character would make you get noticed for all the right reasons.

David honed his skills tending to animals with all humility, never complaining. He never questioned why he as the youngest was being sent to look after sheep while he had elder brothers with more physical strength to probably stand-up to animals and resist the stress of the work. He did it with humility and built a wonderful resume for himself for the future.

We all find ourselves in the position of David or Joseph every now and then in life…either in the family or as a junior or newest colleague in the office. What attitude we put on will determine how much we can learn and who/what would be said of us in our absence, in the boardrooms where important decisions are taken. Remember most decisions/consultations about your career are seldom taken with your knowledge.

While David attended to sheep, he learned how to play the harp in his idle time in the fields, a skill which will later cause his name to be mentioned to the King. He equally learned precision aiming when he had to fend off wild animals attacking his flock with the use of a sling …same skill that would enable him take a sling with surgical precision at Goliath (that’s Excellence: the quality of being extremely good beyond ordinary standards). Tackle your challenges with excellence. (Excellence is not an act but a habit…habits are what we do repeatedly. So to achieve excellence, be repetitive in what you do. Repeatedly gain knowledge, display humility, learn new ways of doing things, innovate…)

You might find yourself as a junior colleague with very little to do (especially when senior colleagues are not collaborative and stingy with knowledge or reduce you to running errands for them)…use that time to learn more about the job, the organization, its history, its mission, culture processes, strategy, position, challenges, competition, new skills to make you succeed or prepare you for the future. Develop skills relevant to the organization and your career vision.

Do this with all humility and before long, you will be discussing strategy with MDs, providing calm in board rooms (just as David played the harp to calm the King, or opted to face Goliath during a military conclave), carrying out key missions on which the survival on the company might depend (David vs Goliath). Learn in humility and move around like a submarine on a deadly mission, surface when your mission is done, when you must have torpedoed the efforts of a non-collaborative boss or colleagues to starve you of knowledge or keep you in the shadows.

Your ability to execute with excellence coupled with an outstanding character would lead to you being discussed for all the good reasons in important places. Gone are the days when CVs used to be viewed as secret documents, meant only for potential employers. Nowadays, you don’t even need to submit a CV to land certain jobs. If a CV is a record of what you’ve done or achieved over the years and how you did it, then except you did all of that in another planet, people don’t need to look too far for your CV. It is evident in the things they have seen you do or heard about you. People take note of what you do, how you do it. In fact, some people have records of your achievements more that you can remember (remember the report given about David to the king or have you ever been reminded of some things you routinely do that seem to go unnoticed?

It can be as simple as your passion in what you do and you are surprised when your manager mentions ‘I love the way you always handle this so I want to increase your responsibilities, enrich your job, promote you…and you are like wow…but these are little things I do every now and then without noticing the impact it creates.’ The fact that you do them when no one would care to do, when you are not obliged to do, when you are not being paid directly for that prepares you for greater things. Why? Because performing with excellence has become a habit and almost everything you do is beyond ordinary standards to the ordinary man because you do it with Excellence.

You must not trample on others in order to progress. David had multiple opportunities to kill Saul but didn’t take any because he saw the bigger picture.

Selflessness is ultimate. In selflessly sharing his dream interpretation skills, Joseph rose to a position where he would ultimately save Egypt and his family from certain death through starvation and hunger.

 

As Nigeria’s Naira and Ghana’s Cedi Struggle, ECOWAS Must Review the Proposed ECO

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Before the African Union congress, I made a case that it would be a bad policy if the continent adopts  a single currency without first understanding the serious welfare implications, at least, at the regional level. My thesis was based on the heterogeneous nature of African economies. Indeed, we can have massive welfare losses if the countries lose their abilities to adjust many macroeconomic factors due to a currency union.

 Nigeria devalues its currency when it cannot keep fighting it. Under a single African currency regime, a supranational central bank will run the show with Nigeria’s central bank just a window dresser. In other words, there is nothing the Central Bank of Nigeria can do because that power has moved to a higher central bank.

More so, it goes beyond Nigeria, Ghana is now losing it at the currency level: “The Ghanaian cedi came under pressure after racking up a whopping loss of 22.44% against the US dollar. This comes despite the attempt by Ghana’s central bank to hike interest rates to offset shortfalls caused by global tensions in Europe.”

 If Nigeria’s economy misbehaves, its asymmetric impact in the West African region will be massive. The economy of Eti Osa local government area in Lagos  State is bigger than the economy of most countries in ECOWAS. So, if we do have Eco, the proposed single West African currency, what will happen is that Nigeria’s economic radicalism will be shared by all the countries since in a currency union, a big player like Nigeria will be expected to have a major impact on the currency stability.

I do not believe that a single currency will fix Africa’s problems; only a favourable balance of trade and payment will do that sustainably and that will come via improved exports. My proposal is to use software to reduce transaction friction associated with multiple currencies. Afreximbank is doing just that and if they succeed, you can pay in Naira and someone in Kenya will receive in Shillings, seamlessly.

Osayi Omokaro has “SERIOUSLY RECOMMENDED” Tekedia Mini-MBA.

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Osayi Omokaro has “SERIOUSLY RECOMMENDED” Tekedia Institute Mini-MBA. Read his words as posted on his feed. We’re very good at what we do here. Go here and register for the next edition and get the early discount with many benefits .

“SERIOUSLY RECOMMENDED. I am in the on-going session and it’s mind blowing. Only week one is far much more the cost. If you have a regular MBA especially from a Nigerian University, please humble yourself and go and take this. I am making this a course for my top management staff. Kudos to Tekedia Institute and the team of faculty led by Prof Ndubuisi Ekekwe”

CFTC Goes After South Africa’s MTI On $1.7bn Fraud As FBI Places $100k Bounty on Crypto Queen

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For a long time, the United States has been expected to make rules that will regulate the cryptocurrency market, putting an end to fraud and other vices stymieing sustainable growth in the industry. While the regulation lingers, authorities are stepping up crackdown on fraud and malpractices in the cryptocurrency industry.

During the week, the U.S commodities regulator, Commodity Futures Trading Commission (CFTC), filed civil charges against a South African company and its CEO for fraud and registration violations.

The company is accused of running a fraudulent commodity pool worth over $1.7 billion in bitcoin. According to the watchdog, Mirror Trading International Proprietary Limited (MTI), the South African bitcoin pool operator, and Cornelius Johannes Steynberg, its CEO, set up a fraud scheme, soliciting bitcoin online from thousands of people including 23,000 Americans.

“MTI had operated a scheme “to solicit, accept, and pool more than $1.7 billion to trade off-exchange, retail foreign currency (forex) on a leveraged, margined and/or financed basis,” the CFTC said.

It said that instead of trading forex as MIT claimed, the company embezzled pool funds, misrepresented trading and performance, faked account statements and used a fake broker, where the trading happened. Just a fraction of the pooled 29,421 bitcoin was ever invested, the regulator said. Steynberg and the company also lied about using trading “bots”.

Steynberg has been on the run until he was recently nabbed by Interpol in Brazil, according to the CTFC, who added that the ponzi scheme is the largest involving bitcoin fraud that it has ever handled.

“Defendants engaged in an international fraudulent multilevel marketing scheme via various websites, in addition to social media, to solicit bitcoin from members of the public for participation in their pool. At least 23,000 of the pool participants—most, if not all, of whom were not eligible contract participants—were from the United States,” CTFC said in a statement.

“The CFTC’s complaint seeks full restitution on behalf of defrauded participants, as well as disgorgement, civil monetary penalties, permanent trading and registration bans, and other relief.”

The CFTC is seeking full restitution to defrauded investors, disgorgement of ill-gotten gains, civil monetary penalties, permanent registration and trading bans, and a permanent injunction against future violations of the Commodity Exchange Act and CFTC Regulations.

Meanwhile, Ruja Ignatova, also known as “Cryptoqueen,” a German citizen who’s also accused of defrauding investors out of $4 billion by selling a fake cryptocurrency called OneCoin has been added to the FBI’s list of its ten most-wanted fugitives, according to a statement by US officials on Thursday.

She has been on the run since 2017 when she learnt that her American boyfriend was cooperating with the FBI on its investigation on OneCoin. She was charged with eight counts including wire fraud and securities fraud for running the Bulgaria-based OneCoin Ltd as a pyramid scheme.

The FBI has placed $100,000 on Ignatova. She was charged alongside Mark Scott, a former corporate lawyer who prosecutors said laundered around $400 million for OneCoin, and has been found guilty of conspiracy to commit money laundering and conspiracy to commit bank fraud.

The crackdown on fraud in the crypto industry is expected to inspire investors’ faith, especially at a time when the industry is having one of its worst moments that some have attributed to malpractice.

Understand and Map Your Personal Economy At Tekedia Mini-MBA

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In the university, they prepared you on how to manage the firm’s money and assets. None of those courses prepared you on how to manage your own money. Sure, they expect you to pick the skills on the way, as you advance in your career. That explains my thesis that the best way to begin a career is banking since if we’re in the business of making money, even when schools cannot teach us how to manage them, maybe, starting a career in banking will help!

As economies are being rattled as a result of Russia-Ukraine conflict, inflation, banditry in Nigeria, high interest rates, Naira deterioration, political risk, the stakes are now high and you must pay attention to your Personal Economy.

Tomorrow at Tekedia Mini-MBA, I will anchor a special session on Personal Economy and Scenario Mapping. Our school wants to help because that is what every great school should do. Of course, we already have great courses on Personal Finance and Wealth Management, Retirement Planning, etc. This one is an addition with specific focus on the events of 2022.

The best way to be out of debt is to pay your bills fast! And the easiest way to save is to have a great credit if living in developed economies.  My FICO score is 835 which is rated exceptional. With that, I get the best interest deals America offers! The implication is huge – what someone pays 21%, you can get it at 5%.

Meanwhile, we have started registration for the next edition of Tekedia Mini-MBA here.