<h1 style="text-align:center;">October Resource Blog</h1>This blog post focuses on stories covering two iconic brands (Domino’s Pizza and Lao Gan Ma) and how they started their businesses and what decisions they made over the years to help them reach their current scale and visibility. The last article provides tools to make better decisions to improve long-term consequences of your company.<a href="https://producthabits.com/dominos-pizza-drove-90x-increase-stock-value-acting-like-tech-startup/">How Domino’s Pizza Drove a 90x Increase in Stock Value by Acting Like a Tech Startup</a>: “Startups can learn some of the most valuable lessons on product and marketing from the growth of the world’s biggest pizza chain. The story of Domino’s Pizza is a hero’s journey. It’s a story of reinvention. Domino’s had a 180-degree company overhaul and turned critics into superfans by being honest with themselves about their weaknesses. They took a huge, scary risk and completely scrapped and remade their core product: pizza”. (Product Habits)<a href="https://www.whatsonweibo.com/lao-gan-ma-story-chinas-spicy-godmother-tao-huabi/">Lao Gan Ma: The Story of China’s Most Spicy Godmother Tao Huabi</a>: “She is China’s ‘Old Godmother’: Tao Huabi is the creator of one of China’s most famous chili sauces and is the embodiment of the ‘Chinese dream.’ By following her own path and relying on her business instinct, Tao rose from poverty and became a multi-billionaire”. (What’s on Weibo)<a href="https://www.nytimes.com/2018/09/01/opinion/sunday/how-make-big-decision.html">How to Make a Big Decision</a>: When you face a complex decision that requires a long period of deliberation, a decision whose consequences might last for years or even decades, you might have a need to see the current situation from new perspectives, to imagine new possibilities, to weigh your options with more sophistication. The article shares tools, hacks, and nudges to help you make these decisions. (The New York Times)<figure class="image"><img src="/uploads/screen_shot_2018_10_01_at_1_17_00_pm_0_555ca1fba0.png"><figcaption>Image Source: The New York Times: <a href="https://www.nytimes.com/2018/09/01/opinion/sunday/how-make-big-decision.html">How to Make a Big Decision</a></figcaption></figure>

A look at how big brands have scaled their businesses.

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October Resource Blog

<h1 style="text-align:center;">November Resource Blog</h1>This resource blog contains the profile of two business leaders and their keys to running large global companies. Additionally, the blog looks at research on the outperformance of family businesses and key indicators about long-term thinking associated with family-run businesses.<ul><li><a href="https://www.cbinsights.com/research/bezos-amazon-shareholder-letters/?utm_source=CB+Insights+Newsletter&amp;utm_campaign=320ed67ec5-TuesNL_10_16_2018&amp;utm_medium=email&amp;utm_term=0_9dc0513989-320ed67ec5-89425349">21 Lessons From Jeff Bezos’ Annual Letters To Shareholders</a>: Each year, Jeff Bezos writes an open letter to Amazon's shareholders. Over the last two decades, these letters have become an unparalleled source of insight into how the world's richest man — and his company — think about customers, innovation, building products, and more. (CB Insights)</li><li><a href="https://www.credit-suisse.com/corporate/en/articles/news-and-expertise/the-family-business-premium-201809.html">Family Business. Premium Performance</a>: Superior growth and returns have been a feature of family-owned companies over time and act as a backdrop to their stock market outperformance. The Credit Suisse Family 1000 report assesses why. (Credit Suisse Group)</li><li><a href="https://www.forbes.com/sites/chloesorvino/2018/10/10/exclusive-in-n-out-billionaire-lynsi-snyder-opens-up-about-her-troubled-past-and-the-burger-chains-future/">In-N-Out Billionaire Lynsi Snyder Opens Up About Her Troubled Past And The Burger Chain's Future</a>: Exclusive interview of In-N-Out's Lynsi Snyder, the company’s billionaire president. (Forbes)</li><li><a href="https://www.forbes.com/sites/randalllane/2018/08/30/bezos-unbound-exclusive-interview-with-the-amazon-founder-on-what-he-plans-to-conquer-next/">Bezos Unbound</a>: Exclusive Interview With The Amazon Founder On What He Plans To Conquer Next. (Forbes)</li></ul><figure class="image"><img src="/uploads/screen_shot_2018_11_05_at_1_22_36_pm_0_3a0eaf1ffa.png"><figcaption>Image Source: Credit Suisse Group: <a href="https://www.credit-suisse.com/corporate/en/articles/news-and-expertise/the-family-business-premium-201809.html">Family Business. Premium Performance</a></figcaption></figure>&nbsp;

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November Resource Blog: 2018

<h1 style="text-align:center;">Building a New Class of Finance Executives for Ethiopia</h1>The CFO100 program is a joint effort between <a href="../../index.html">RENEW</a>, <a href="http://www.international.gc.ca/gac-amc/index.aspx?lang=eng">Global Affairs Canada</a> and the <a href="https://www.accaglobal.com/ca/en.html">Association of Chartered Certified Accountants</a> (ACCA) to increase the credibility, quantity, and quality of CFOs and finance managers in Ethiopia. The CFO100 program will combine an intensive self-study training around ACCA’s selected papers alongside a practical training from RENEW.The CFO100 program provides a strong foundation of advanced accounting and real-world financial management skills that is designed to give participants a career advantage.We have just opened the application process for our third cohort of the CFO100 program which begins in February 2019. The application deadline is January 14, 2019.Apply here for RENEW's CFO 100 Program and become a finance leader in your company. For more information on how to apply, eligibility and the admission process, contact our team member Filseta Asrat (<a href="mailto:fasrat@renewcapital.com">fasrat@renewcapital.com</a>).Here's what previous graduates are saying...“The training was excellent. The CFO 100 program contributed to keeping updating myself on accounting skills, professional networking, budgeting experience, work with a team, building confidence, time management [...] The program also provided me with the opportunity to register for ACCA, on September 2018. I recommend the program to other financial professionals.”Emebet Beyene, CFO100 second cohort graduate"Joining the CFO 100 program, it was my expectation to acquire some inputs about what a well-equipped finance person would possess as a skill and attributes and […] I have been exposed to these through the classroom sessions and experience sharing stages created in the program.”Alazar Zeleke, CFO100 Program second cohort top score graduate and ACCA Member<figure class="image"><img src="/uploads/1_14_0_06844ba1cb.png"></figure>

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Building a New Class of Finance Executives for Ethiopia

<h1 style="text-align:center;">December Resource Blog</h1>The resources this month cover a wide range of topics from product/market fit, to sales in early markets, and how to write well.<a href="https://firstround.com/review/how-superhuman-built-an-engine-to-find-product-market-fit/">How to find the product/market fit</a>: The product/market fit drives startup success — and that the lack thereof is behind almost every failure. For founders, achieving product/market fit is an obsession from day one. It’s both the hefty hurdle we’re racing to clear and the festering fear keeping us up at night, worried that we’ll never make it. The article shares a framework on understanding what product/market fit really is and how to get there. (First Round Review)<a href="https://a16z.com/2018/10/19/when-sales-isnt-just-selling-advice-for-founders-in-early-markets/">When Sales Isn’t Just Selling: Advice for Founders in Early Markets</a>: Perhaps the single greatest early challenge faced by founders in early markets is going from product to sales — specifically, a repeatable sales process. Occasionally, a product draws the market with such force that the company is flooded with inbound queries; however, these situations are incredibly rare and come with the pitfall assumption that bottom-up adoption means no need for sales. But in the vast majority of cases, a product released in an emerging market lands with a dull thud, and it’s up to the company to figure out how to sell it. (Andreessen Horowtiz)<a href="https://www.barnesandnoble.com/blog/stephen-kings-top-20-rules-for-writers/">Stephen King’s Top 20 Rules For Writers</a>: The job of a CEO is to communicate well to a wide range of stakeholders. A majority of communication is a written communication. Stephen King, who has sold over 350 million book copies, shares his rules on writing well to connect with the audience. King’s manual, On Writing, reveals that he’s relentlessly dedicated to his craft. (Barnes &amp; Noble)<figure class="image"><img src="/uploads/entrepreneur_4800203ac3.jpg"><figcaption>Image Source: Vision Critical: <a href="https://www.visioncritical.com/3-reasons-why-entrepreneurs-make-exceptional-marketing-leaders/">3 Reason Why Entrepreneurs Make Exceptional Marketing Leaders</a></figcaption></figure>

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December Resource Blog

<h1 style="text-align:center;">RENEW to Help Launch Season 2 of Chigign ‘Tobiya</h1>Season 1 of Chigign ‘Tobiya was a success culminating in the show’s angel investors choosing three companies to invest in, pending they pass due diligence. On September 11, 2018, just after the Ethiopian New Year’s Day, in a premium slot on national television, the show broadcasted the final episode of Season 1 during which the following three entrepreneurs were chosen by the panel of local angel investors for investment:<ul><li>Rohobot - A provider of home care nursing and training</li><li>YenePay - A mobile payment platform</li><li>BAMA Coffee - A mobile coffee-to-go business</li></ul>The transactions are in process, pending due diligence, and in the meantime, RENEW is helping to launch Season 2 of the TV series which will appear on Fana TV, Fridays at 8:30 PM. Girmay Haile Gebreselassie, the visionary behind the show, will return to produce Season 2. He has written and directed two movies, three plays and has a solid career in IT.Chigign is a reality TV show dedicated to elevating entrepreneurship and angel investing, with a special focus this season on female entrepreneurship. The show aims to encourage and educate youth and society at large about the importance of innovation, entrepreneurship, private equity, angel investing and the private sector in general in Ethiopia. RENEW is proud to be a sponsor, to be represented on the panel by our own Laura Davis, and also to invest in winning entrepreneurs who pass our due diligence process.Visit <a href="https://www.youtube.com/watch?v=GyovqM8acCY&amp;feature=youtu.be">YouTube</a> to view a short program clip or <a href="http://www.tonetormultimedia.com/">HERE</a> to see the advertisement.Show Name - Chigign 'Tobiya (Roughly translated to “Ethiopia Emerges”)The Concept - Chigign 'Tobiya is a platform for entrepreneurs to gain access to potential capital, contracts and coaching. Entrepreneurs appear and pitch in a venue that combines the American TV programs “Shark Tank” and “American Idol”. Entrepreneurs who move on through the competition receive coaching from the Chigign team and, in some cases, the judges with a focus on enhancing the entrepreneurs’ business concepts. The top contestants who make it to the final round will be considered for an investment from the panel's fund.Get Involved:Pitch Your Company or Idea - The Chigign 'Tobiya team will choose more than 30 entrepreneurs each season and have them pitch their company or idea for a chance to appear on the show.Be an Investor - Be a permanent or rotating investor on Chigign 'Tobiya. Hear pitches, mentor entrepreneurs and vote with the panel to allocate the fund to finalist entrepreneurs. Not interested in appearing on the show? There are still options to be involved. Reach out via email to learn more (contact information is below).Be a Sponsor - The Chigign 'Tobiya team is looking for sponsors interested in promoting entrepreneurship and innovation among Ethiopian youth and the society at large. We offer sponsors options to be featured in Chigign Tobiya events and programming, among a variety of benefits. Contact us to learn more (contact information is below).Ecosystem Partner - Do you work with Ethiopian entrepreneurs? We'd love to add value to your program by having your entrepreneurs pitch on Chigign 'Tobiya.Contact- Interested in being involved? Email us at <a href="mailto:renew@renewcapital.com">renew@renewcapital.com</a> or visit <a href="http://chigign.com">www.chigign.com </a>for more information.

Edutainment uses mass media as a platform to educate the public and elevate the concept of entrepreneurship and angel investing across East Africa. In Ethiopia, Renew Capital helped to build Chigign, a reality TV show dedicated to elevating entrepreneurship and angel investing. Future programs will aim to extend this educational work across Africa.

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For Youth Entrepreneurs and Local Angel Investors

Elevating Entrepreneurship and Angel Investing in Ethiopia

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RENEW to Help Launch Season 2 of Chigign ‘Tobiya

<h1 style="text-align:center;">January Resource Blog</h1>Our January Resource Blog focuses on startups and the role of CFOs. Take a few minutes and read through the articles below for a deeper understanding on startup funding, key challenges faced by startups, and demands on CFOs.<a href="http://www.angelblog.net/Startup_Funding_the_Friends_and_Family_Round.html">Startup funding - The friends and family round</a>: The key areas an entrepreneur should focus on while raising funding from friends and family. (AngelBlog)<a href="https://venturebeat.com/2018/12/16/how-to-handle-key-challenges-as-you-move-from-startup-to-ipo/">How to handle key challenges as you move from startup to IPO</a>: In a hypergrowth company, entrepreneurs face challenges at each stage, but a lot of what a company encounters is entirely predictable. Here is some practical advice on how to tackle each stage in this “growth journey,” passed along by entrepreneurs and executives DFJ Growth has worked with. (Venture Beat)<a href="https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/our-insights/are-todays-cfos-ready-for-tomorrows-demands-on-finance">Are today’s CFOs ready for tomorrow’s demands on finance?</a>: Survey results show that as their role expands to include ever more nonfinancial demands, CFOs know they must build new skills to lead. (McKinsey &amp; Company)<figure class="image image_resized" style="width:100%;"><img src="/uploads/screen_shot_2019_01_08_at_8_13_24_am_1feb26ae8a.png"><figcaption>Image Source: Small Biz Daily: <a href="https://www.smallbizdaily.com/5-most-common-problems-of-startups-and-their-solutions/">5 Most Common Problems of Startups and Their Solutions</a></figcaption></figure>

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January Resource Blog

<h1 style="text-align:center;">High-Growth Firms in Emerging Markets</h1>At the end of 2018, the <a href="http://www.worldbank.org/">World Bank Group</a> released a new report, <a href="https://openknowledge.worldbank.org/handle/10986/30800">High Growth Firms: Fact, Fiction and Policy Options for Emerging Economies</a>, which looked at the qualities and characteristics of high-growth firms (HGFs) in a number of developing countries. The report’s goal was to discover the characteristics of HGFs, determine the best way to tell when a company is hitting a high-growth phase, understand the drivers that bring companies to this phase, and determine how policy makers and development partners can use this information to better finance potential HGFs. The report focused specifically on countries considered to have an emerging economy. With this focus, it shines light on what policies are needed to help bolster these economies and to help sustain growth of HGFs.<figure class="image image_resized" style="width:100%;"><img src="/uploads/screen_shot_2019_02_05_at_8_25_20_pm_fd5f17cd70.png"></figure>One of the major findings of the report was that HGFs are an important part of both job and economic growth for a country. On average, HGFs make up between 3-20% of manufacturing and service firms in the countries studied, but they create over half of the new jobs in the given country.The report also illustrates that there are several common misconceptions about HGFs. When people typically think of an HGF, they usually picture a start-up in the tech sector which grows rapidly over a period of time, usually due to a quality inherent to the firm (such as a new tech advancement). Viewing HGFs through this narrow lens is problematic, as it results in targeting specific companies which are believed to have the potential to become an HGF for receipt of financing and resources necessary to realize this potential (World Bank Group, 2018).<figure class="image image-style-align-left"><img src="/uploads/screen_shot_2019_02_04_at_11_03_55_am_5496650fe3.png"></figure>In reality, the report found that HGFs can be start-ups; however, they’re usually a company that is past this phase. Moreover, the report found that HGFs actually exist in all sectors and locations and are not predominantly in the technology industry (World Bank Group, 2018). In Ethiopia specifically, HGFs were mostly in manufacturing and were usually grouped around large metropolitan areas. See the chart below for the breakdown.As noted above, HGFs create over 50% of new jobs in their respective sectors. The report found that the “net change in employment and output would have been negative without the positive contributions of these firms” (Grover, et al, 2018, pg 3). Therefore, HGFs are a major indicator for determining how well an economy is performing. The dynamics that HGFs bring to emerging economies are actually similar to what has been seen in high-income economies like the United States and Sweden (pg 3).<figure class="image image-style-align-right image_resized" style="width:64.94%;"><img src="/uploads/screen_shot_2019_02_04_at_11_01_40_am_70395bfb48.png"></figure>The report also closely looked at policy initiatives and how organizations typically identify and target HGFs. Unfortunately, they found most current initiatives are misguided and target firms they erroneously believe to be high-potential. The report suggests a complete reorientation for how people view HGFs and how to effectively search for them. Their suggested method is to look for companies which hit all aspects of the “ABC’s of growth entrepreneurship: improving Allocation efficiency, encouraging Business-to-business spillovers, and strengthening firm Capabilities” (pg 5). They believe that by supporting these ABC’s, there is a positive correlation to actually seeing desirable outcomes, and these companies have a higher potential of hitting a high-growth phase. With the ABC’s in mind, the report outlines the 5 specific factors that tend to drive growth within a company. They are: innovation, network economies, managerial capabilities and worker skills, global linkages, and financial development.Overall, the report recommends that people shift their perspectives on the indicators related to high-growth firms in order to reform policy and access to financing that may be available to this type of company. It’s a shift to supporting companies that have good innovative business practices with strong, capable management and employees, rather than targeting firms solely based on their size and sector.For more information and to see a copy of the report, visit the below sources.<hr>Sources:Grover, Arti; Medvedev, Denis; Olafsen, Ellen. 2018. High-Growth Firms : Facts, Fiction, and Policy Options for Emerging Economies: Executive Summary. Washington, DC: World Bank. © World Bank. <a href="https://openknowledge.worldbank.org/bitstream/handle/10986/30800/211368ov.pdf?sequence=4&amp;isAllowed=y">https://openknowledge.worldbank.org/bitstream/handle/10986/30800/211368ov.pdf?sequence=4&amp;isAllowed=y</a>World Bank Group. 2018. High-Growth Firms: Facts, Fiction, and Policy Options for Emerging Economies <a href="https://www.worldbank.org/en/news/feature/2018/11/16/high-growth-firms-facts-fiction-and-policy-options-for-emerging-economies">https://www.worldbank.org/en/news/feature/2018/11/16/high-growth-firms-facts-fiction-and-policy-options-for-emerging-economies</a><hr>Image Source:Grover, Arti; Medvedev, Denis; Olafsen, Ellen. 2018. High-Growth Firms : Facts, Fiction, and Policy Options for Emerging Economies: Executive Summary. Washington, DC: World Bank. © World Bank. <a href="https://openknowledge.worldbank.org/handle/10986/30800">https://openknowledge.worldbank.org/handle/10986/30800</a> License: CC BY 3.0 IGO.

A Look at the World Bank’s Recent Report on HGFs.

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High-Growth Firms in Emerging Markets

<h1 style="text-align:center;">February Resource Blog</h1>Our February Resource Blog focuses on resources for managers. Take a few minutes and read through the articles below for a deeper understanding on managing group projects, building a successful team, structuring your day, and decision making.<a href="https://hbr.org/2017/01/how-managers-can-make-group-projects-more-efficient?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">How Managers Can Make Group Projects More Efficient</a>: In this article, the Harvard Business Review looks at how managers can reap the benefits of effective collaboration while avoiding inefficiencies in the process. (Harvard Business Review)<a href="https://www.nytimes.com/guides/business/manage-a-successful-team?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">How to Build a Successful Team</a>: In order to build a successful team, you need to do a lot more than finding a group of people with the right skills. In this article, insights from successful leaders give the groundwork to building a highly productive team. (The New York Times)<a href="https://qz.com/work/1093557/the-complete-guide-to-structuring-your-day-by-quartz-at-work/?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">How to Structure Your Day Better</a>: “Most workdays start with the right intentions. You begin the day energized, with an ambitious list of tasks and a manageable inbox. But things quickly unravel as meetings, email, and colleagues’ fire drills take over. Before you know it, your deliberate organization comes crashing down like an overextended Jenga tower, sending you home defeated.” This article will show how this cycle can be broken and how to restructure your day. (Quartz at Work)<a href="https://www.newyorker.com/magazine/2019/01/21/the-art-of-decision-making?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">The Art of Decision-Making</a>: By examining a number of complex decision-making situations, this article outlines a number of techniques to allow people to apply the art of decision-making to their own lives. (The New Yorker)<figure class="image image_resized" style="width:100%;"><img src="/uploads/screen_shot_2019_02_04_at_12_26_19_pm_0_44a33d0a38.png"><figcaption>Image Source: The New York Times: <a href="../../../renewcapital.com/sites/default/files/screen_shot_2019-02-04_at_12.26.19_pm_0.png">How to Build a Successful Team</a></figcaption></figure>&nbsp;

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February Resource Blog

<h1 style="text-align:center;">March Resource Blog</h1>Our March Resource Blog focuses on resources for structuring your day and your team. Take a few minutes and read through the articles below for a deeper understanding on structuring your day, working more effectively and forming the perfect team.<ul><li><a href="https://qz.com/work/1561830/why-the-eight-hour-workday-doesnt-work/?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">There’s an optimal way to structure your day - and it’s not the 8-hour workday</a> (Quartz) - In this article, the author disputes the eight-hour workday as an effective way to conduct business. He argues that in order to be as productive as possible, companies and people need to let go of this format and instead structure your day in short intervals, with frequent breaks.</li><li><a href="https://www.cnbc.com/2019/02/28/what-google-learned-in-its-quest-to-build-the-perfect-team.html?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">7 Years Ago, Google Set Out to Find What Makes the ‘Perfect’ Team - and What They Found Shocked Other Researchers</a> (CNBC) - In 2012, Google set out to find what went into the perfect team. They interviewed over 180 different teams within Google to find out what comprised the perfect team. They found that individual personalities are not actually relevant, but rather there are five specific team traits that enhance a team.</li><li><a href="https://www.fastcompany.com/90305012/how-to-cut-your-work-hours-in-half?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">Want to Cut Your Work Hours in Half? Create an A/B Schedule </a>(Fast Company) - This article explores the idea of adopting an A/B scheduling technique to work and do business. The author argues that by scheduling between A and B weeks, it allows for fewer hours and more efficiency.</li></ul><figure class="image"><img src="/uploads/screen_shot_2019_03_05_at_4_13_25_pm_0_7034fdcd7c.png"><figcaption>Image Source: Fast Company: <a href="https://www.fastcompany.com/90305012/how-to-cut-your-work-hours-in-half?utm_source=pocket&amp;utm_medium=email&amp;utm_campaign=pockethits">Want to Cut Your Work Hours in Half? Create an A/B Schedule</a></figcaption></figure>

Business Resources