Category: Young and Inspiring Businesswomen to Watch 2021 Article

 

When I was 16 years old, I left my home, without telling my parents, and got on a bus to another city to take an exam for a scholarship. The exam was an opportunity for me to move to the Netherlands and experience another country. Another culture.

I ended up doing well and the next thing I knew, an envelope arrived in the post notifying me that I had been awarded the opportunity to study in Rotterdam. At that time, I actually didn’t know what I wanted to study. It was either biology or economics and, in the end, I settled on the latter, not really knowing what to expect.

I dove into econometrics, which I learned that it was economics on steroids. Four years later I had a degree and I was not sure what to do next. I knew that I needed a job, but like most first jobs, I had no idea what I actually wanted to become. Everything I had learned was in books and I didn’t have any inspiring role models in business to look up to.

We all have that experience in life where we are not exactly sure what we are going to do. We wonder if we are good enough. If people might see that we actually don’t know what we are doing. I believe it is in those first few months that we all feel like imposters. The thing that I learned then and carry with me today is a learner’s mind, that is able to adapt and learn. The creative tension that I felt at that time was exactly the quality that I have done my best to maintain in my business life. Somewhere between confidence that I am going to do a great job, while at the same time knowing that there is always something that I am missing.

I’ve also noticed throughout my career that it’s often harder for women to make peace with this “Impostor syndrome” because we often look at what we’re not capable of doing, rather than what we are capable of doing. In my experience, men often feel much more confident in areas where they have less experience, which has the effect that they are often given higher positions, even salaries, and a culture of “knowing” is given priority, over more creative cultures that invite exploration and creativity.

I worked for the next few years at the insurance company Aegon, where I learned the basics of business. I learned how politics work. How budgets get created. And possibly most importantly, how the best ideas will fail, even before they are started, if there’s a culture that isn’t able to maintain it. The statement work smarter, not harder is something that I have found more and more wisdom in as I have evolved in my business career.

In 2008 I was lucky enough to cofound the hedge fund Saemor Capital. There I learned the difference between working in the public and private sector. I learned that once you are spending your own money, you treat it differently.  There’s no company flipping the bill. It’s your own money and you see that you spend it more responsibly. This has been a lesson that I carried forward the rest if my life. Just because you work for a company that is not your own, doesn’t mean that you should treat it as if it is not your money.

After working in this hedge fund for ten years, I had the deep desire to work in another market. It was always my dream to work in London, a global financial capital. I knew that the competition was high and the hedge fund industry was competitive. I worked at Aspect Capital where I learned another big lesson in life. Not everything is what you imagine. Sometime your expectations are far from reality. I worked night and day, never leaving work at the office. I was preoccupied with work, where results were measured day to day, not year to year. What I learned here was important. We must have humility in the face of challenges. Not everyone is cut out for every job and I saw that this job as great, just not for me.

I also learned that some challenges were even greater than making money. An example to that is creating teams who could achieve more together than any individual could create on their own. I transitioned back to the Netherlands, where I brought my years of experience back into the corporate sphere. Creating teams that flourishes is a challenge that requires a vastly different set of skills. How does one inspire the best in an individual? How does a group flourish without the need for micromanagement?

I learned that this journey is actually less about understanding others and more about understanding oneself. How is my behavior positively or negatively influencing the group? How can I support each person, with very different motivations, to become successful in their chosen endeavor? I don’t see my position as a one of authority. I see my position as one of how do I inspire others through my behavior. This has been one of the greatest learnings of my life.

If I had to reduce successful leadership down to three points they would be the following:  Successful leaders reflect on their behavior and continually learn how to get out of the way of their group’s success. Successful leaders are not fearful of change. In fact, they invite it as a pathway to continuous improvement. And finally, there is happiness. If people are not enjoying themselves, it is not sustainable. That does not mean that people do not take their job seriously, rather they balance achievement and self-care.

As long as these three things are in alignment I feel like I am serving the groups I work with, as well as myself.

 

The year 2020 turned out to be, among many other things, the single greatest catalyst of  digital transformation across industries and regions. As the COVID-19 pandemic disrupted economies around the world, organisations had to quickly adapt to enable remote work for their business to remainproductive.

World trade declined by an estimated 9.2% in 2020. Recent data by the World Bank indicate growth in sub-Saharan Africa will fall to -3.3%, pushing the region into its first recession in 25 years and pushing an estimated 40 million people into extreme poverty.

Lacking the deep pockets and extensive social security safety nets of their more developed peers, African nations will need to apply ingenuity and innovation to get the continent’s growth and development back on track.

The response by Africa’s business sector could hold the key to how the continent overcomes the economic challenges ahead, while also building greater resilience and adaptability for future disruptions.

Small steps, not giant leaps

One of the outcomes of the widespread disruption of 2020 is that business leaders and their technology partners are likely to forego large, waterfall projects in favour of taking small, consistent steps on their business transformation journey in 2021.

A strategy of iterative innovation can enable businesses to make consistent improvements to their current products, services and strategies. Iterative innovation implies that businesses enter into a process of continuous improvement, measurement and learning. Successful iterative innovation ensures the business extends its capabilities while navigating any new disruptions or emerging complexities.

Taking an iterative innovation approach means huge, expensive and lengthy digital transformation projects are substituted with a greater number of much smaller, well-defined and clearly measurable projects that focus on delivering quick business value.

However, iterative innovation requires an environment of learning. Analytics should be embedded in business processes to provide real-time visibility over the performance of these innovation projects.

By measuring impact, analysing insights and applying learnings, business leaders and their technology partners can ensure each iteration builds on what has been achieved, moving the business closer to its goals.

Mobilising executive support

In the face of the disruption every industry is experiencing – economic, technological, and pandemic related – there is tremendous value in the ability to take constant steps toward greater performance, productivity and innovation. However, this requires bold leadership.

Business leaders need to mobilise and bring functional heads together to actively drive projects to a successful outcome. The very best business transformation projects are built around active participation from executives whose involvement helps ensure the project delivers direct business value and supports organisational strategy.

If organisations wish to thrive in our disruptive digital economy, innovation needs to be driven throughout the company from both IT and business.

What does this mean for their technology partners?

Firstly, technology partners need to engage with their customers at a business level, not a purely technological one. The goal should be quick time-to-value – what can we do to achieve positive business results and drive iterative innovation quickly and consistently?

Secondly, a customer-first strategy is vital. This may mean making small sacrifices in the short term to secure long-term value. For example, instead of insisting on a total digital transformation project, technology partners should seek opportunities for smaller deployments that address specific issues along the business value chain to produce measurable results. As each project builds on the last, bigger business and technology priorities become achievable.

Thirdly, an organisational culture shift is needed. The nature of business is that we all pursue monthly and quarterly targets, and our success is often measured along similar lines. An exceptional sales strategy would balance the need for immediate results with what’s best for the customer in the longer term. This requires that leaders take a long view, and not sacrifice long-term gains for short-term outcomes.

To echo Albert Einstein, we can’t solve our problems with the same thinking we used when we created them. The digital transformation of the African continent is continuing apace. By changing our collective strategy and shifting focus to a more iterative approach to innovation, the continent’s business sector could be well-placed to emerge from our current crisis stronger, more resilient and with greater long-term sustainability.

About SAP

As the Experience Company powered by the Intelligent Enterprise, SAP is the market leader in enterprise application software, helping companies of all sizes and in all industries run at their best: 77% of the world’s transaction revenue touches an SAP® system. Our machine learning, Internet of Things (IoT), and advanced analytics technologies help turn customers’ businesses into intelligent enterprises. SAP helps give people and organizations deep business insight and fosters collaboration that helps them stay ahead of their competition. We simplify technology for companies so they can consume our software the way they want – without disruption. Our end-to-end suite of applications and services enables more than 440,000 business and public customers to operate profitably, adapt continuously, and make a difference. With a global network of customers, partners, employees, and thought leaders, SAP helps the world run better and improve people’s lives. For more information, visit www.sap.com.

As a team, we’ve been thinking about how businesses and especially women in business have been affected during the pandemic and how we can support our team as we return to more normal operations. In many countries, the female labor force is at a 30year low, which some experts attribute to the quarantining. Achieving a work-life balance was challenging in “normal” circumstances but has been even harder during the months of remote working. Some women are responsible for additional hours of caregiving than ever before. If the woman shares a home with a spouse and children, space and internet bandwidth is at a premium. It is challenging to create any separation between life and work responsibilities. These factors have forced many women out of the workforce altogether. Although some economists predict a big comeback, growth in some industries may be slower than others. In order to accelerate the regrowth, companies should provide a clear path for staff, but especially women, to return to the workforce.

For us at Opaal Interiors, this global pandemic has taught us so much. We streamlined our virtual collaboration process to allow our whole team to continue working together. We were happily surprised with how much productivity is possible even during quarantine. The entire industry now realizes that virtual work is more possible than we had imagined, especially as teams adopt the use of technologies. But, as soon as we could safely allow people back into the office, Opaal Interiors did encourage the staff to return. We may continue to use hybrid methods of communication and project management now that we have integrated these technologies into our process. Other companies adopting these practices could also provide opportunities for women who live in more remote areas or who didn’t previously have access to higher-income positions. For women at any stage of their career, there’s good lessons to focus on as we look to grow professionally in a post-pandemic world.

For women at the beginning of their careers, the path to success is much the same as it has always been. It’s important to not let a slow economy scare you away from pursuing our dreams, learning new skills or stepping into new leadership roles. While it may seem counterintuitive, a study released by the Kaufman Foundation in 2009 found that over 50% of Fortune 500 companies started either in a slow economy or recession. You must build a plan for your professional growth. This may be the perfect time to learn new skills or get additional training and education for a new line of work. By following your passion and leveraging your natural abilities, you can discover opportunities to make a positive impact on the world around you. You may find yourself as CEO of your own company! As your confidence grows, you will be able to take on more responsibility and work your way up. After working for fifteen years at Emaar Properties, we had developed a good process and learned what was missing in the market. The choice to venture off to launch Opaal was not without its own challenges, but we felt confident that we could build a business to meet the needs of our future customers. Being a first-time business owner can be daunting, but you can lean on your family, friends and professional mentors, when possible. For Opaal Interiors, some of the most challenging times for us came in the early years. Without an established client list, we were pitching against well-established firms, and had to build our reputation on providing excellent customer service. I am happy to say that our patience and determination has paid off. I’m very proud of where we are today. If you are just beginning your own entrepreneurial endeavors, I encourage you to be focused, flexible, and persistent. It’s not easy to start something, but it’s not impossible.

For women who are in the middle of their careers or perhaps already responsible for bigger teams, this may be the time to focus on growing a specific area of the business, so that you don’t spread yourself too thin. You must understand what sets you apart in the market and lean into those differences. What sets Opaal apart is the strength of our client partnerships. Both strong creative leadership, and real client partnership exist side-by-side. This approach also informs our hiring strategy and we take great care in the hiring and training process. We make sure each team member understands the unique way we run our business because we want a sense of shared ownership across the company. We try to give young designers each a voice and opportunity to develop and use their skills. Our hope is that they are empowered here at Opaal to step bravely into the world of design if and when they choose to move on to other opportunities.

As women, we may feel pressure to blend in, but we should not be afraid to stand out in your work! As a professional, it’s helpful to understand our strengths and natural skills so that we can bring that authentically into our work. We must also know and harness the unique gifts that may be stereotypically ‘feminine’. If you have the skill of precise and insightful communication with others, accept it! This is a huge asset to any business. If you are naturally warm, empathetic, expressive, humble, let these serve your business and your clients. Client partnerships are a critical aspect of most businesses, and the ability to place ourselves in the shoes of the client will give us a real edge on the competition. It is also crucial to give ourselves space and quiet to nurture creativity. When the pace of life slowed down at the onset of the pandemic, our creative brainstorming capacity at Opaal Interiors shot up tremendously. We need to pay attention to that.

Innovation and creativity have been critical to our success in the interior design industry. Staying on top of trends, (or better yet, setting trends,) can seem daunting, but we have to make a little space for exploring new ideas every week. This sounds simple, but it is incredibly hard with all the other demands on the business. So, if innovation is important to your business, you must prioritize creative exploration every week. For us, innovation may be in the form of new ways of operating the business or a new creative use of a material that we’ve never explored before. Either way, it is a combination of response to the demands of our customers and the creative vision that we want to bring to life. One of most successful results of innovative thinking at Opaal Interiors in the last five years has been to open a sister company to manage furniture procurement. It has afforded us the opportunity to serve our clients better while also giving our team the path to building additional skills. Whatever form innovation may take in your business, don’t forget that good ideas can come from anywhere.

For women nearing the end of their careers, we hope that you will continue to mentor and inspire the next generation. We need your wisdom, and we want to learn from your experiences. As we share our stories with each other, we feel empowered to realize our dreams and take bold steps forward in our journeys. We love to see so many women stepping into leadership roles, and we’re thankful to magazines like this who shine a spotlight on female entrepreneurs.