General

Imagine you have a provision shop where you sell many products. Or you offer different services to your target market. Or you have tried a few side hustles and now have to choose where to put in more of your limited resources. Maybe you have an established business and must decide how the year’s business expenditure should go. In all these instances, we have to decide whether and where to allocate extra resources, cash out or look elsewhere and divest. BCG MATRIX BASICS The BCG Matrix, also called the Growth-Share Matrix, emerged as a reaction to the need for a scientific technique to assess a corporation’s several product services. Bruce Henderson, the founding father of the Boston Consulting Group, added the matrix in 1970. It aimed to offer a smooth but effective framework for studying an enterprise’s product portfolio and guiding strategic selections. The matrix classifies merchandise into four classes based on market growth rate and relative market share.  A high market growth rate means that product/service lines grow rapidly. When your market grows, you must invest to increase capacity and marketing spending to secure your market share. A product or service with a high market growth rate might be attractive, but that consumes cash quickly. Relative market share is just as the name says, with a significant emphasis on “relative”. How much of the market is not what we are talking about here – it’s how much of the market you have compared to the next guy, your colleagues and competitors. The rule of thumb is to divide your market share by that of your largest competitor, giving you your relative market share. If you have a 5% market share and your biggest competitor has a 50% market share, then your relative market share is 5% divided by 50%, which comes to a 10% relative market share. THE FOUR QUADRANTS OF THE BCG MATRIX Let us imagine the Relative Market Share on an x-axis and the Market Growth Rate on a y-axis. Visualise it. The high and low points on each axis create four quadrants that are: In reality, most new business products or services start as QUESTION MARKS because they have very little or no relative market share but usually operate in an environment with a high market growth rate. They have the potential to become STARS should they capture a bigger chunk of the existing booming market. Easier said than done. If you’re wondering why most businesses do not start as DOGS, starting a product or service already means you have a meagre relative market share. Why would anyone also start a business in a market with a low growth rate? It’ll be much harder to get out of there. Beginning as a QUESTION MARK is ideal. Almost always, question marks generate very little cash but will need more cash than they generate to get them to be hopefully STARS or even CASH COWS. If not analysed and appropriately managed, after years of pumping money into them, QUESTION MARKS can degenerate into DOGS, and you may never recoup your investment. But let’s assume everything went well. Your QUESTION MARK, that product or service with a low relative market share in a high market growth rate, now has a high enough relative market share to become a STAR. What does that mean? It means you are selling more. It means that of all the customers who need that product or service, a good number of them come to you, which means you are generating high amounts of cash and revenue. It means you have a good thing going. But it would help if you spent some of that cash to maintain your current market share, fend off competitors, and grow! You must recognise the STARS you have as an entrepreneur and nurture them. Successfully diversified companies always have some STARS in their portfolio to ensure future cash flows. STARS are also always great for your brand image, serving as your flagship product – like the iPhone does for Apple. The iPhone is Apple’s STAR product. Per our definition, the iPhone has a high relative market share in its product category and a high market growth rate. As time goes on, your STAR, managed properly, will beat off competition and maintain a high relative market share, but the market growth rate will decrease in time as well, making it a CASH COW – a high relative market share with a low market growth rate. It is called a CASH COW because while maintaining a relatively high market share, you spend less on marketing and investments as your revenue stagnates. YOU still own the lion’s share of the market, so the cash keeps pouring in. Ergo, CASH COW!  An entrepreneur must milk all this cash (pun intended) from this revenue avenue and invest it strategically into STARS or new product lines, the QUESTION MARKS. CASH COWS make way more than they need to maintain their business positioning. So they bring stability to a business. The iPad is a good example. The iPad dominates in relative market share for its category. It’s so clear that compared to the STAR of Apple – the iPhone – much less investment goes into the iPad regarding marketing, development, etc. With a high relative market share, stagnated market growth rate and cash still flowing in from sales while expenditure on the product decreases, Apple has created the perfect CASH COW in the iPad. But then there are the DOGS, like the iPod (now discontinued), with a low or declining market growth rate and a low or declining market share. I still have an iPod Touch. I get why Apple discontinued it. DOGS don’t make or break the business. They barely consume any money and barely make you any money, but as a business unit, it has enough cash within its business unit that can be put to better use. So they’re not fun, not attractive enough for finance, marketing or R&D to put their

THE FUNDRAISER’S MINDSET I am always first to admit that upon returning home from London to Accra (Tema, to be precise), I was so eager yet so unknowingly green. I set sail with a cargo of dreams and ‘book-long’ strategies, ready to conquer the vast ocean of the African Business Sector. The first waves of reality hit hard. Proposals were crafted with passion, events laced with enthusiasm, but the winds were not always favourable. It was a cycle of pitches and pleas, often met with polite nods but closed wallets. I realised that to reach my destination, I needed more than just a good story and a noble cause. I needed to chart the waters from the funder’s point of view. It was a revelation that came to me not in the quiet of my office or my home study but in the hustle of an event with Founder Institute, where I formally slipped into the role of a funder. Surrounded by a sea of fundraisers, I was on the other side of the conversation, and the view was startlingly different. I had funded initiatives before, but this was the first time I really, really connected the dots. As a funder, I was no longer the suitor; I was the courted, the one being wooed by endless streams of ideas and appeals. This new vantage point is illuminating. Years ago, as I listened to pitches that spoke of how their projects would change the world, I realised in real time how so few spoke to me, to my goals as a funder, to the change I wished to see in Ghana, in Africa. The rare few that did were the ones that captured my attention. They stood out not just for their clarity and conviction but because they spoke MY language; they aligned with MY vision. I quickly wrote a mental program to run how I sail the seas. My dual experience became my compass. As a fundraiser, I began to weave the funder’s language into my narratives. I mirrored their values, addressed their goals, and acknowledged their challenges. I didn’t just offer them an opportunity to give. I offered them a partnership in a vision they could see themselves in. Most importantly, I DID THE WORK THEY WANTED TO SEE. I built a track record that I can speak to and that they can see aligns with them. And the tide began to turn. When a fundraiser understands that alignment is the key, they unlock not just funding but also long-term relationships and success. THE FUNDER’S MINDSET When I am in the funder’s chair, it is more like a chessboard. Here, every move matters; every pitch is a potential gambit, and I am always looking for a strategy that promises not just success but also alignment with my own objectives. I meticulously peer into the souls of projects, seeking more than just innovation and passion. I look for the threads that connect my values to their vision. I have come to realise that the pitches that stand out are not those that shout the loudest but those that speak directly to me and my team’s vision, in a language that resonates with my worldview. Currently, that language is that of my heightened expectations for Risk Management & Earned Value Management, but that’s beside the point. I’ll get back on track. I have come to understand that a funder is not an ATM for worthy causes. A funder is a partner in a venture that fits within the larger puzzle of their ambitions and plans. As a funder, the proposals that catch my eye are the ones that acknowledge this. They don’t just present a need; they offer a solution to a problem I am keen to solve. I remember one pitch in particular. This pitch was not the slickest nor the most polished, but it spoke of community impact in a way that matched my desire to foster local development. They had done their homework, they knew what I cared about, and they showed me a future where my contribution could make a tangible difference. This was the key to unlocking my support. It wasn’t the general promise of ‘helping others’ but the specific vision of helping in a way that mattered to me. It was about shared goals, not just shared generosity. Through these experiences, I extracted insights I would carry back across the chessboard. The successful fundraiser doesn’t just understand their own needs, but they also delve deeply into the funder’s world. They learn what drives a funder, what concerns them, and what excites them. They don’t just pitch a project, but they present a partnership that fits snugly into the funder’s aspirations. The lightbulb was on, and I got to work to make my walk, match my talk. I will reiterate that if you do not put in the actual work, the best pitch could still fall flat on its face. PRACTICAL TIPS FOR FUNDRAISERS Now, I am no longer about selling a concept. In fact, from 2024, it will be a lot about storytelling in a way that weaves my funders into the narrative. I have a slot on the primetime Evening News on local TV and DsTV. I maintain my column in the largest print publication of business news in Ghana, my podcast will be going on tour, and our Impact fora will be telecast widely. Fundraising is an art as much as it is a science. It’s about finding resonance, creating connections, networking, and ultimately, understanding and sharing a vision that is as much the funder’s as it is your own. The story is no longer yours alone. Here are some practical tips that crystallised from this philosophy: Tip 1: Research is Key. Before any pitch, deep dive into the funder’s world. Read their past annual reports, understand their funded projects, and grasp their strategic vision. This background work guides you to tailor your message, ensuring you’re not just shooting arrows in the

A New Era in Ghana’s Democratic Journey Ghana, often called the Heart of Africa, is renowned for its stable political climate and progressive democratic governance. This commitment to regular, peaceful presidential elections is a model for other emerging democracies. The 2016 presidential election, resulting in a power transition from the National Democratic Congress (NDC) to the New Patriotic Party (NPP) under Nana Akufo-Addo, marked a significant shift in Ghana’s political narrative. As 2024 approaches, there’s heightened interest in the incumbent government’s performance and rival political entities’ policies and agendas. A striking aspect of the upcoming elections is the transformation of the electorate. A new demographic, those aged 10-17 during the 2016 elections who are now eligible to vote, is poised to impact the electoral process significantly. I term this new demographic the ‘TikTok Electorate’. This group reflects the growing influence of social media platforms like TikTok in shaping the political views of young voters. Furthermore, implementing the Free Senior High School (Free SHS) policy in 2017 has markedly enhanced literacy rates among Ghanaian youth. This demographic is not only larger due to natural population growth but also more educated and politically aware. They represent a dynamic force currently influencing Ghana’s political and economic future. The emergence of this informed and digitally engaged electorate heralds a new chapter in Ghana’s democracy. Their participation in the 2024 elections could reshape Ghana’s political landscape, reflecting the evolving nature of political engagement in the digital age. The Rise of the New TikTok Electorate: A New Dynamic in Ghana’s Democracy As Ghana approaches its 2024 elections, a pivotal change looms in its electoral landscape. The cohort of young Ghanaians aged 10 to 17 during the 2016 elections, now eligible to vote, represents a critical demographic. In 2024, when they’ll be between 18 and 25, this age group will significantly influence the country’s political discourse and outcomes. Recent data indicates that the youth segment constitutes a major portion of Ghana’s population. This surge of young voters, deeply integrated into the digital world, marks a generational power shift. Generation Z, as they are known, differs markedly from previous generations in their digital fluency, having grown up amidst rapid technological advancements and an ever-evolving social media landscape. This demographic is larger, more informed, and politically engaged, thanks to the ever-present access to information online. Their broadened perspectives on national and global issues, shaped by digital media, make them a more discerning and potentially critical voting bloc. The entry of these young, first-time voters into Ghana’s political arena presents both opportunities and challenges for political parties. Engaging this electorate effectively requires an understanding of their values and aspirations. Parties must commit to addressing the issues pertinent to this demographic to avoid alienation or indifference. This shift underscores the need for political strategies that resonate with a more technologically savvy and informed electorate, signalling a transformative period in Ghana’s democratic journey. Harnessing the Influence of the ‘TikTok Electorate’ in Ghana’s Political Sphere ‘TikTok Electorate’ encapsulates a significant generational shift in Ghana’s political landscape. This group, comprised of first-time voters who are digital natives, wields considerable influence through their interaction with social media platforms like TikTok. TikTok, renowned for its short video format, has become a global phenomenon, particularly among younger users. Its role transcends entertainment, becoming a vital platform for political expression, information sharing, and mobilisation. The experience from the 2020 U.S. Presidential Elections highlighted TikTok’s potential as a formidable political tool. In Ghana, the impact of TikTok and social media is increasingly evident, driven by high smartphone penetration and growing internet access. This ‘TikTok Electorate’ demands more from political leaders and parties, including transparency, engagement, and a genuine understanding of their concerns. Political parties must adapt to this evolving landscape by embracing these new mediums and responding to the changing dynamics of voter engagement. However, navigating the challenges of this digital shift is crucial, such as the risks of misinformation and political polarisation. Addressing these issues is vital to maintaining a healthy and constructive political discourse on these platforms. The effective use of social media, particularly by the young and digitally engaged electorate, could be a game-changer in shaping Ghana’s political future. The Enhanced Role of Literacy and Education in Shaping Political Engagement The transformation of Ghana’s political landscape is significantly influenced by the Free Senior High School (Free SHS) policy, which was implemented in 2017. This landmark educational reform, aimed at removing financial barriers to secondary education, has elevated literacy rates and cultivated a more politically engaged youth. Recent data suggest a marked increase in literacy among the 15-24 age group, nearing 90% by 2020. This educational empowerment, catalysed by the Free SHS policy, has expanded the horizons of Ghana’s youth, making them more informed and involved in political processes. Enhanced literacy has been linked to increased political awareness and participation, with educated individuals more likely to vote, engage in political discourse, and make decisions based on policy rather than personality or tribal affiliations. When effectively implemented, the Free Senior High School (Free SHS) policy demonstrates how political promises can lead to substantial societal benefits. It has shifted the basis of political support towards tangible results rather than mere party philosophies, aligning voter preferences with recognised party performance. As Ghana approaches the 2024 presidential elections, this educational empowerment is expected to translate into a more discerning electorate. Political parties and candidates must adapt their campaign strategies to appeal to this informed voter base, focusing more on substantive policy issues. The heightened political engagement among the youth, fuelled by improved education, promises to shape the outcome of the elections and the future of Ghana’s democracy. As the nation moves forward, the implications of a working educational revolution on the political landscape are profound, heralding a new era of informed and engaged citizenry. The Importance of Young Voices & Fresh Perspectives in National Politics Ghana’s burgeoning young and educated electorate stands poised to redefine the nation’s political and economic trajectory. With 70% of young Ghanaians holding secondary or higher