What Does Uganda Need F or Growth?

1. What Does Uganda Need For Growth? Presented by Ravi K Mehrotra, CBE Executive Chairman - Foresight Group (London) Common Wealth Business Council- Uganda Investment Forum • 11th April 2013 • Sheraton Hotel, Kampala,Uganda ? 1 www.foresightltd.co.uk

2. What Does Uganda Need For Growth? Young budding Ugandan entrepreneurs with a lot of belief in themselves 2 www.foresightltd.co.uk

3. What the Government of Uganda can do to create the nucleus of entrepreneurship in the country • We all know that Rome was not built in a day! • “Miracles don't happen. You make them happen” – Uganda cannot become a newly industrialised country in the world overnight but we can work towards it • The Ugandan authorities will need to establish a youth entrepreneurship programme with the following aims: • least government control • Small nucleus funding say $100 mn with a promise to top it up each year by the drawn amount • The only guarantee they will need from the entrepreneur is submission of project plan details and their personal guarantee with a promise to return funds with a margin plus a 10% stake in their firm • Let’s assume the success rate in the beginning to be not more than 10%. However this 10% will also turn Uganda into a successful economy as each enterprise created can turn into a billion dollar outfit in less than 15 years 3 www.foresightltd.co.uk

4. Now let’s focus on YOU the young entrepreneur • My job here today, in this allotted time, is to help you become a budding entrepreneur or to guide you on the path of becoming a “young” entrepreneur • In achieving a goal you have to face a lot of hurdles and difficulties • You should have energy, positive attitude, perseverance and maintaining good health to enjoy once the success of your goal is achieved • So my dear friends, let’s begin to see how this brief presentation can put you on the path of a budding entrepreneurship 4 www.foresightltd.co.uk

5. Stage one of Entrepreneurship • To achieve anything in life you need a plan a definite one, hence the key recipe to follow your dream is • Setting a goal • A definite plan – How to go about it? • Coaxing the subconscious mind to join you in your goal achievement • Self Rewarding if the goal is achieved • Also remember, your subconscious mind is uneducated and it does not apply various alternatives as your mind does. In fact, it is a gift given by GOD to you. Once you explain in detail what you are trying to achieve then you have a companion in your journey to the goal. • The more in detail you explain, the more loyalty it will give you all the way to the end • Remember once you achieve your goal do not forget to reward it as it has helped to keep you on track for success, as you do to your assistant. Your subconscious mind wants to remind you that it is with it’s help you got this award. • So remember, the success of achieving your goal depends more upon you and your subconscious mind than anything else! 5 www.foresightltd.co.uk

6. How do you do it? • Keep your “goal” a Secret • Your own secret which only • you and your subconscious • mind should know. Otherwise • others will develop jealousy • and create hurdles on the path • Success is all that matters! But how to achieve it? 6 www.foresightltd.co.uk

7. Your plan for achieving a Goal should have the following 11 elements Importance of having a “goal” is the ability to convert it into a detailed plan so that your subconscious mind understands fully to give it a fair chance of success • Outline your present position in detail • Finishing time frame • Means – How ? Financial and emotional support • Quantify distractions : Inner and outer distractions • Time Limit - Not more than 10 years • Convert your journey into small steps and put markers - mini goals • Rewards at achieving each mini goal – Incentives • Punishments for non completion of mini goals • Difficulties in your journey and how to overcome • Imponderables – plans to bypass them 7 • Ultimate recognition of success www.foresightltd.co.uk

8. Your plan for achieving a Goal should have the following 11 elements (cont.) • Having discussed with your mind the 11 points which help you develop a plan into a precise one, • sleep over it for a few days for your subconscious • mind to absorb each point and its details • You will get dreams which will pick holes in it giving you a chance to correct them before you adopt the plan, as once the plan is adopted you should stick with it • When you stop dreaming you will know the plan is achievable and you can adopt it 8 www.foresightltd.co.uk

9. How to begin implementation of your plan? • Now you have adopted a goal say with a 10 year horizon, then you need to know from where to begin implementing it • Plan as below starting from the lowest step to the highest one 9 www.foresightltd.co.uk

10. How to create small markers and goals on the way? • Your annual plan is better than the original master plan of 10 years for implementation but this also has 365 days in hand which is very long and carries danger of slippage • There I suggest dividing your annual plan into a monthly plan and ideally a daily plan but for the first goal a daily plan is difficult to implement hence follow a monthly schedule • This means you would have prepared 12 monthly plans and 9 yearly plans which will help you to maintain secrecy of your goal because to others it will appear like a jigsaw puzzle • Only “YOU” will know how to make a beautiful painting out of the pieces in the jigsaw puzzle • Important to note that if there are slippages in any month then this can be taken up the next month without affecting the annual and the ultimate 10 year goal 10 www.foresightltd.co.uk

11. Now your plan is ready…………… • Your plan is ready and have you started implementing it? • Remember you have a companion on your journey who is coaxing you to complete your allotted task. I call it “Fire in your belly” • “Genie” – your subconscious mind, your companion is a merciless tyrant and it has elephantine memory so do not try to deviate on your plan • Genie reminds you to arrive at your mini goals and reward yourself as it is mini successes that will give you enthusiasm to achieve your final Goal Finally, your goal will need financial support and you may not have the available finance. What do you do? Do not panic! • Before money was invented in the world what was there? Your “sweat”… • To barter each other’s sweat the world created money for economies to move beyond their boundaries • To create wealth in this case you have to go back to basics and use your “sweat” to create funds for your goal 11 www.foresightltd.co.uk

12. Personal satisfaction is in creating employment for others • In my 50 years of professional career, I have not met any entrepreneurs who could not achieve what they wanted because of shortage of money • Therefore once you start enjoying your mini successes you will be able to create ways to utilise your sweat to create all the required money - can you believe it? • What joy and satisfaction you will have when you look back and see this is all what you created with your “sweat”, determination and perseverance • Before I close my dear friends, remember never accept a largesse. Always work for it! As largesse kills your pride and initiative 12 www.foresightltd.co.uk

13. Award for your Guru? • At the end of this journey in which I have helped you on the path to your goal, what award will you give me? • For having given you in simple words, what I have practiced and perfected in the last 50 years. • Especially when I began with a dream and empty pockets because my father was a professor of economics and with 7 siblings there was no chance of any family funds. I had to implement my dreams through my “sweat” • My friends, Good Luck in pursuing your dream 13 www.foresightltd.co.uk

14. The Foresight Group • You are welcome to refer to books written by me which are made available via many book outlets including www.amazon.com; www.whatsinitforyouthebook.com • Access to Amazon and other book outlets can be easily accessed via • www.ravikmehrotra.tv • (available in hardcover, softcover or Kindle) • And • PLUS the book: • “How to achieve what you planned to achieve in your life in 10 steps in 40 days” • can be obtained from CBC secretariat 14 www.foresightltd.co.uk

15. The Foresight Group “THAT SOME ACHIEVE GREAT SUCCESS IS PROOF TO ALL THAT OTHERS CAN ACHIEVE IT AS WELL” by President Abraham Lincoln Thank you – Ravi K Mehrotra, CBE 14 www.foresightltd.co.uk

16. What Does Uganda Need For Growth? Presented by Ravi K Mehrotra, CBE Executive Chairman - Foresight Group (London) Common Wealth Business Council- Uganda Investment Forum • 11th April 2013 • Sheraton Hotel, Kampala,Uganda ? 1 www.foresightltd.co.uk