ADEOGUN, FUNMILOLA OLUWATOSIN LECTURES ON FINANCIAL INVESTMENT TITLED THE THREE SERVANTS (Part 11)

Remember the lesson in part 10 is ‘Don’t hesitate to remove an unproductive servant from your management.’

It is good to know that success is a product of our work.

Adam was placed in the garden to work it and take care of it. We were made to work.

It is good to know the psyche of master, the financial investor. Ironically the servant who gave us insight into this psyche was the third servant, the one who didn’t make use of the capital allocated to him. This is how the servant describes him: “I knew you to be a harsh and hard man, reaping where you did not sow, and gathering where you had not winnowed.” (Matthew 25:24 AMP) The Message bible puts it this way: “I know you have high standards and hate careless ways, that you demand the best and make no allowances for error.”

These are thus the characteristics of the master:
1. He has very high standards
2. He hates carelessness in business
3. He zero tolerance for error
4. He hates disappointment
5. He wants his money intact
6. He’s a hard-nosed businessman
7. He disdains over-cautiousness

Lesson: You must Have a high standard

FUNMI ADEOGUN

* has applied SKILLS in
* Corporate and Business Law (LW)
* Reporting (FR)
* Performance Management (PM)
* Financial Management (FA)
* Audit and Assurance (AA)
* Taxation (TX)

* she has applied KNOWLEDGE IN
* Business and Technology (BT)
* Financial and Accounting (FA)
* Management Accounting (MA)

Stay tuned with

FUNMI ADEOGUN, FIMC, FIMS(UK), MCIArb (UK), CMC, CMS

ADEOGUN, FUNMILOLA OLUWATOSIN LECTURES ON FINANCIAL INVESTMENT TITLED THE THREE SERVANTS (Part 12)

Remember the lesson in part 11 is ‘You must have a High standard’

In fact, the Holy Quran Teaches Us to Hire Top Talent. According to Mohammed A. Faris:

*There is a well-known passage in the Quran, that describes the story of Prophet Musa (Moses) – Peace be upon him (PBUH) – and his interactions with two young women and their father.

As I was reflecting on this passage, I realized that this passage contains some powerful lessons on how to effectively hire top talent that CEOs & HR managers can all learn from.

If you’re not a Muslim – don’t worry, I’ll explain the passage below. If you’re a Muslim – turn to Chapter 28, verses 23-28 for the passages I’m quoting below.

The Story
The story begins with Musa (PBUH), after escaping Egypt, entering the town of Madyan and seeing two women struggling to water their sheep. Here’s how the Quran describes the scene:

And when he came to the well of Madyan, he found there a crowd of people watering [their flocks], and he found aside from them two women driving back [their flocks]. He said, “What is your circumstance?” They said, “We do not water until the shepherds dispatch [their flocks]; and our father is an old man.”

So he watered [their flocks] for them; then he went back to the shade and said, “My Lord, indeed I am, for whatever good You would send down to me, in need.”

So Musa (PBUH) offers them help, and then goes to sit under a tree making a supplication to God for some desperate help (you can imagine him hungry, tired, and has no where to go after a long travel).

A little short while after he helped the two women, one of them approaches him and invites him over to her father’s place who wants to reward him for helping his daughters. Here’s how the Quran describes the incident:

Then one of the two women came to him walking with shyness. She said, “Indeed, my father invites you that he may reward you for having watered for us.” So when he came to him and related to him the story, he said, “Fear not. You have escaped from the wrongdoing people.”

7 Practical Lessons of Hiring from Two Verses in this Story
Here’s where it gets interesting and connects to the topic of hiring top talent:

One of the women said, “O my father, hire him. Indeed, the best one you can hire is the strong and the trustworthy.”

There are 4 observations here:

Look for people with a proven CV.

The woman noticed Musa’s skills and character and Musa demonstrated both of these when he helped them out earlier in the day. When looking for top talent for our companies, we shouldn’t just hire people based on what they tell you they’ve done. Let them show you clear examples of what they’ve achieved. Even better, always be on the lookout for top talent outside your official hiring lines (e.g. at trade conferences, airport business lounges, even non-profit board).

When you want to hire somebody, start with a referral. The daughter offered a strong reference to her father to hire Musa. We all know that references are powerful ways to vet your talent and make sure that your talent truly matches their CV, but how many of us start the hiring process from referrals? Won’t it be cheaper and more effective to start the hiring process by asking for references to top talent from our immediate circles? (Yes, I’m aware this might not work for some large companies or highly competitive industries – but for small/medium businesses, this can be effective)

Skill + Character are key: Notice the two qualities that the woman mentioned to her father “strong and trustworthy”. When looking for talent, we should not always look for the most skillful, we should also look for character and trustworthiness. Skill alone doesn’t make talent. Skill + Character is the more powerful criteria. Think of developing 2 sets of questions for the interviews: one that judges skill, and the other that judges character.

Start with Skill: Having said that, notice how strength/skill was mentioned first and then trustworthiness. And this is another important lesson.

Lesson: Hire Top Talents

FUNMI ADEOGUN

* has applied SKILLS in
* Corporate and Business Law (LW)
* Reporting (FR)
* Performance Management (PM)
* Financial Management (FA)
* Audit and Assurance (AA)
* Taxation (TX)

* she has applied KNOWLEDGE IN
* Business and Technology (BT)
* Financial and Accounting (FA)
* Management Accounting (MA)

Stay tuned with

FUNMI ADEOGUN, FIMC, FIMS(UK), MCIArb (UK), CMC, CMS

ADEOGUN, FUNMILOLA OLUWATOSIN LECTURES ON FINANCIAL INVESTMENT TITLED THE THREE SERVANTS (Part 13)

Remember the lesson in part 12 is ‘Hire Top Talents.’

Successful investing is a journey, not a one- time event, and you ‘ll need to prepare yourself as you are going on a long trip.
The master in the parable of THE THREE SERVANTS also gives us insight into the two parameters used in allocating capital:

1. The first parameter is potential. Master allocated money to the servants according to their potential capacities and abilities, not according to sentiments.

If you don’t develop your potential in business management, no master will allocate capital to you.

Attend seminars, read business books, learn to read financials, business journals, watch business TV, familiarize yourself with the technical jargon of free markets, develop your potential, take investment course that deals with modern financial ideas, read books such as Stocks for the Long Run by Jeremy Siegel et al.

Investment is a combination of science (financial fundamentals) and art (qualitative factors).

The scientific aspect of finance is a solid place to start and should not be ignored.

Lesson: If you don’t develop your potential in business management no master will allocate TREASURE to you.

FUNMI ADEOGUN

* has applied SKILLS in
* Corporate and Business Law (LW)
* Reporting (FR)
* Performance Management (PM)
* Financial Management (FA)
* Audit and Assurance (AA)
* Taxation (TX)

* she has applied KNOWLEDGE IN
* Business and Technology (BT)
* Financial and Accounting (FA)
* Management Accounting (MA)

Stay tuned with

FUNMI ADEOGUN, FIMC, FIMS(UK), MCIArb (UK), CMC, CMS

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