https://www.listennotes.com/e/fe989d8b4d7f457f90e22747c564019f

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Hi, I'm Natalie Bitetore and welcome back to Uncommon Perspectives, the authentic father daughter conversation where we talk about different issues challenging the African population. So today we are going to speak directly to the youth and we're going to be talking about understanding the value of time. So what would you say is the main challenge in the way that our youth perceive time?

Thank you and hello out there to everybody. Time. Time is one of those commodities, should I say, that looks like has no value but is also priceless when I say priceless, because it is so, so valuable. Now, when you are young, you think you have so much time, just like oxygen. You don't think about where you get this oxygen that we breathe until you've got Covid. Then you realize how important it is to breathe. Now, the same thing about time, when you're young, you feel you've got an ample, infinite amount of time and all you want to do is get other things done. You don't actually put any intrinsic value on time. But time is a commodity, a very precious commodity. And those who go far in life appreciate its value much earlier and start using it effectively. They've got 2020 vision, they've got a blueprint, a roadmap. The they know what they've got to do and they've got milestones along the way to help them achieve their objectives. Because it's factored in with time. People think, I'll do this, I want to do this in my life. I want to be a chef, I want to be a pilot, I want to be whatever. And you think you've got all the time. Time flies by before you realize it. So for the young people, it's very hard for me to ask you to put to place a value on something which you think you have an infinite amount of. But let me tell you something about time. I learned to appreciate time when I started making money. Money and time are like running in parallel all the time. To accumulate money, you need time to make money and keep it for a long time is a big challenge because time is tearing it apart, dividing it. It's like a number that's whatever you make is being divided by time. Instead of being divided, you want to multiply by time. So if you think about it as something that adds value, what are you going to plug here? A division sign or a multiplication sign. So if you make $100, you want to multiply it by five, because you've got time. You're compounding. That's how banks work. They're compounding the value of money using time. You borrowed only $100, but after 25 years, it's a lot of money you've got to pay back because of time. The power of time is an exponential variable that just keeps growing in every direction, not just linear growth. So I come back to basics. I might be running away with these different analogies. Time is a commodity that you've got to appreciate. Use it well. The earlier you appreciate it and use it carefully, the more you will succeed in Life. Everybody's got 24 hours in a day. Some people use their time. They only work eight hours a day. Most people sleep for eight hours, and then the other eight hours is for their health, whether it's going to the bar to watch sports, go to the gym, whatever you do to keep a sense of balance. But they get so much accomplished in their eight hours. The same eight hours you have got, and it goes by and you've done absolutely nothing. And that's where you find these extremes. Some people don't value time at all. Some people really value time. I find lately I'm being requested to join so many boards to be a patron, to do all these things. I. And I asked myself, why? Because if you want to get a job done, well, give it to a busy person. He's really busy because he's busy doing things. And if you give him something, he'll add it on and get it done. But somebody who's completely free, you give them something, they just won't get it done because they don't appreciate the value of time. So there's this irony, this paradox about time. Those who value it can't get enough of it. They sleepless hours, they want to work, they want to get things done. And they are making progress every day and they wish they had more time. Steve Jobs wished he had more time because the time came when his life was cut short because he was still relatively young. And something will happen along the way. You don't know what. I'm not saying it will be illness or an accident or something tragic like that. Something will come and then you need to have that headroom, that capacity, spare capacity, where it's just as well you did all this. Now you can reach an age of 55 and you want to do a master's say, I wish I'd done it then. You think you didn't have the time then because you were in the bar, you are in pubs and you're having fun and partying. So you get as much done when you can compress it in. So that later in life you've got the headroom and you say, I want to retire early, I want to retire at 40, or I want to reply at 50. You can retire at 50 because you've done so much with your time. So you've got to find a way to put value on time. Now I bring it down to another level, just academics. When you're a student, if you use your time well because you've got the same eight hours or 10 hours to study, use your time well, it will pay off. It's about being deliberate, it's about being diligent, it's about being consistent with your time. Whatever you are doing, you get better. Some people, they say, are born intelligent, but the intelligence only gets you so far. But those who are consistent in working hard on whatever it is they've set their mind to their goal, they seem to go further, they seem to excel, they seem to go places. It's not the brightest and the most intelligent young kids that make it up to the top. It's those who have shown values and consistent and worked hard to slowly climb the ladder and be the CEO of this big corporation. Let's not talk of JP Morgan, let's talk of Stan Big Bank. Talk of another local bank here, Standard Chartered Bank.

A local bank, KCB Bank Centenary or.

Yes, these are our homegrown solutions. And look at like you said, kcb. A brilliant CEO heads KCB in Kenya. A young man, he became the CEO when he was 40, but he had used his time so well. He's one of the most respected leaders in the business community in East Africa today. A gentleman called Joshua Oigara, amazing man, very simple, down to earth. But he's got such a wide breadth, such a wide breadth of knowledge. He understands businesses from all kinds of angles and he's always looking for solutions. What he likes are problems. He says, bring me the problem I want to see which is the problem. He wants a problematic cases and he's looking for solutions. His mind is re engineering things, not trying to say, oh we are stuck, this is bad. So amazing people are there but you see the difference how they chose to use their time. So I've talked arbitrarily about time but the long and short of it is, please, my fellow Africans, I'm not talking only about Ugandans because I know we all have a problem of time in Africa. That's why they say, oh, don't worry in Africa, we'll do it tomorrow. Value time. Africa is going to be left behind and stay where we are. Unless we appreciate the value of time. And I'm not just saying be punctual to work or get where you're supposed to be on time, which is also important, but what you do with your time. Because I've seen many people come, they've got to start a meeting at 8 o' clock, then the meeting starts at 8, and then they squander the time four hours, five hours later. And you have not arrived at serious solutions. So if you can learn to use your time well, stick to a plan, have a good roadmap or blueprint, whatever you're trying to do, it's amazing and it's never too late. And we'll talk a bit more about that. What do you think? What's your perspective?

No, I agree with you. It's such a big problem. You know, African time is a page on Wikipedia because it's such a thing. We just don't value time in the way that other countries do. And I think it's tied to like the economic value of it. Because everyone is trying to make more money in life. Right, but what are you trying to make more money for? Which whenever I ask people, what is your biggest challenge in your business, what do you need? Capital. Capital. We need money. Why do you want that money? Everyone is trying to make more money because they're looking for more time. Money is getting us to the time. I like how you say that they work parallel because most of the time we're chasing money because we're trying to chase time. You want money so you have more time to do the things you want to have the lifestyle you want the freedom you want the time freedom. And when you read about very successful people, the reason they're able to be a Steve Jobs or someone like that is because they can afford to have the time for what they need, instead of spending all your time chasing other things to build the blocks to get you the money. Because I think the challenge is, as young people, we feel like we have so much time, I'll do it one day. But if you don't put it in like a finite project or like in a scope with a deadline, you never get it done. And the only way you're going to get to that point where you have the time to do what you actually want with your life, you'll be old. It's that model of retirement. And when I think about how many Africans really live their whole life working, and then they retire at a certain age and have the money to do all the things they wanted to do, I'M going to travel, I'm going to do this for my grandchildren. I'll do that. It doesn't make sense. And I don't think that model works for us. We have to learn how to value the time now and make the most of our time. Actually, I follow this guy called Gary V. Gary Vaynerchuk. And he's very controversial, but he's very efficient and he really encourages and inspires people to do better, especially young people. And he flips it the other way and he says life is long. Most of the time people are like, life is short. You have to do what you can today. But then that makes young people have this YOLO attitude. You only live once. Let me do risky things or wild things now, because tomorrow is not promised. But when you think about life is long, it means the sooner you put in the habits and the sooner you learn the things you need to know that will last the whole of your life. It compounds, right? So the good things you learn now, if you learn how to use your time well, your whole long life will be better because you've put in that effort and that intention. Now. When I think about how much I've learned in the last five years, I think it's more than I learned in the first 20 something years of my life. Just because I was more intentional about how I was using my time and making sure that you make the most of all the time that you have. Because it's true, we'll always push something to the next day unless you put a deadline on it. And most people don't do that. But when you learn about productivity and efficiency, it's one of the first things you learn. You have to have scopes on things, you have to have an end and you have to tell people about it. Like an accountability buddy. I am going to do this goal and achieve this by this time. That's why companies have projects and deadlines. But most people in their personal life don't do that. They're not goal oriented. They don't know how long it's going to take them to do something. And we don't really perceive time in a realistic way. Oh, I can do this in one hour, yet it's like a four hour task. Oh, in the next five years I'll have achieved this. Oh, that one hurts me. People who are so unreasonable, like in a job interview, where do you see yourself in the next five years? I'll have my own company and I'll be the CEO and I'll be running it. I'm like from where you are now, you really think that that is possible? It's not that I don't want them to be ambitious, but it's so unrealistic because they've not really thought about the time and the effort that it's going to take and what you actually need to do. So what I encourage, like young women who I coach is, is you need to think about your goal in 10 years and then work backwards, break it down. What are the actual skills, the tasks, what do you need to do to get to that place in 10 years? And then you should push it a bit further and see how do I achieve that as fast as possible? How do I start working on those things now so that in 10 years I actually get there? Because time is always moving forwards. It's like standing on a conveyor belt. You're moving whether you're putting in effort or not. So the people who are actually working and moving are walking and going with it. But if you're just standing there and time is moving and you're not doing anything, you're going backwards, because everyone else is going to be moving if they're putting in that effort. And that's why I say life is long. The sooner you start to put in this effort and use your time in a useful, practical, intentional way, the sooner you see the results of that time. And like you said, it's the small habits that you do every day, people want to make a giant leap and change their life in one deal, in one day, or in one job. It's never like that. It's the small steps you take every day. If you keep making them and taking them with time, those steps take you so far. And it's such a hard concept to explain, but once you do it with one area of your life, you start to see the benefits, and then you can actually implement it in other areas. And that's the only way I found to, like, encourage young people to do this. But I really don't know how else we can get Africans to value time.

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Some people say give them the rope, let them learn. Let the young people first enjoy and squander a bit of their time. Hopefully they'll appreciate. Unfortunately, it doesn't seem to work here because in the Western world, when a child turns 18, then you're considered an adult at 21. Most cases you've got to be living on your own. You don't stay with your parents, you've got to start contributing. Even if you're living with your parents, you start contributing, get a side job and start paying the rent or paying for the electricity. Our state of affairs here has never been like that. It's always been a communal kind of system and has not evolved fast enough so people don't value time. And our goals are largely get educated, get married, have children, then you hopefully do something with your life that you can leave on for legacy. So the milestones are different and there's no process in between where people get on a treadmill and it looks like you're running on a treadmill and hardly making any progress. Like you use a conveyor belt, but they are hooked on that. And the longer you stay on there, there's a direct reward. You're most likely going to get promoted, you're going to earn more income, you can save. The salaries are realistic. Now, environment is not as easy. It's not a straight line that just keep doing what you're doing and you should get to the other side. It gets distorted. There are kinks, there are bumps, there are corners. And that's why maybe there's this disillusionment about time. And people often realize too late when they are way into their 40s or even into their 50s. So what is an ideal pattern, I wonder? I would like to think the first 21 years of your life are supposed to be for learning. L E A R N I N G L E A R N Learn. You learn from the time you're born. You learn to breastfeed, you learn to crawl, you learn to walk, you learn to ride a bicycle, you learn to drive a car, you go to school, you learn to make friends, you learn to date. All these things are done between 0 and 21. You graduate, you take off that hat and throw it in the air. I'm a graduate, you're an adult the next maybe 20 years, you are supposed to form a family. The person you've married, you won't have children, you're going to have a job. You want to give them security. You need to get a roof over their head. So you're probably renting or you're saving or trying to build. By 40, you're now in the red zone, maybe orange, not red. You've got to consolidate whatever you are doing. If you have not got that promotion, either get into business or you've not grown the business to a level where now the business can run and protect you. You've got another 10 years between 40 and 50 to consolidate. You use that period to consolidate. You can push it to 55 to see that you have a plan. Because after that your energy levels drop, your ability to process, to remember, starts declining, your body starts declining between 55 and 75. And if you're going to have anything called retirement, where your money is working for you, or whatever you've saved, your pension is what your investment are working for you, then you can go into the evening of your life with an easier pace and also leave something for your children. So they don't have to start from minus five or from zero, but maybe plus five or six plus six, that's the difference. Now, the Western world has got this formula quite well. But in Africa we don't seem to be told that these phases of life, of learning, which stops the L, I emphasize the l stops at 21. Then you remove the L, it becomes earning. That's why I say from earning it goes up to 40. Then after earning, it's your investments that start giving you a dividend. Because then from 50 onwards it should be really returns. Your investment are giving you a dividend. That's what you're living off, whether it's property you've built or acquired, or some fixed deposits. And that's the income you live. Of course, you cannot run as fast as you used to run when you were young. So this pattern has got to be explained to the young people to understand the value of time. Because everyone knows how old they are. I was born in 1960, so I'm about 60 years old. You're probably born in 1990, so you're about 90 years old. Okay, I'm just joking. So look at it the other way. Everyone knows how Old they are. So you've got to have these benchmarks, these milestones and know that now the learning period is over, you're supposed to be earning and you can't earn all the money in one go. It takes time. The first five years, extremely hard. You're earning and you're spending. And as soon as you earn a bit more money, your lifestyle improves. You want to drive a better car, drive better clothes, live in a better neighborhood, have better friends, eat in restaurants. Your costs start going up and before you know it, there is no savings. Without any savings, there's no investment. That culture just is not there. Whereas the Asians start saving quite early. And as long as they are saving and investing, don't stop at saving, you must save and invest. Then they start compounding their investments. So by the time an Asian is 50, he's still living in a small place, but he's wealthy, he's got enough capital and the capital can now grow. And if you look at it, you ask yourself, when you want to quit, what number do you want to quit at? Most people put a number. I want to quit when I've made this much. 10 million, 100 million, 500 million. Whatever number, it's up to you. You choose your number and remember that whatever your quit number is, you're going to have to make 5%. You're going to have to live with at least 5% of that to sustain you, sustain your lifestyle. Then you're in a comfortable position to quit early and you can live a long life. So if it's 100 million and your 5% is 5 million, that's your living. Cost of living should not exceed 5 million. If you make it 200 million, your 5% is 10 million. So you've got to have a number. When you think about it, what is my quit number? I'm going to quit my job when I've made so much money. That's my investment now and I'm going to live off 5% of that to take me through the evening of my life. These are some of the numbers you can play with if you want to be a bit more analytical. But not many people have thought about it that degree, but we should start thinking about it. Others thinking that I put my money in nssf. Yes, it's a great start, but it's never going to be enough. Think about how else can you put your investments to be compounded safely. And the older you go, it's more about safety rather than gain than expansion. That's what you've Got to think about makes sense.

And the sooner you start thinking about that, the better. Even when you're young, if you think about the long term, it helps you to be more focused and know the direction you're going in. And if you think about these numbers and how much it actually takes to make that much money, I think it instills some fear and motivation in you when you're young. So you start moving because you know what? It's going to take you those 20, 30, 40 years of working to actually achieve these things. I would challenge you on one thing, though. The life stages you talked about. I think that's a model based on men. Because. Because typically, even all over the world, it's men who are the majority of the workforce. But with women who have to go through childbearing, there's like a lull in their careers from their early 20s. I always encourage women to work because that's when you can explore, you're curious, you get skills. But women's focus generally moves to the household for about 10, 15 years by the time they're 25 to, like, 35. And then when they come back to the workforce from 35 to 55, 60, women are amazing workers. Then they have, like, a whole new wave of energy. Think of how many CEOs we have right now who are women over the age of 35, because they have the skills and the maturity and the drive. And now they're not distracted with the home. They have a whole new wave of how much they can work. Whereas with men, men are not very good workers. Personally, I find until they're like 30 and they get married, they are so all over the place. Too much energy, they're not settled, chasing too many things. But once they are, like, motivated and stable, they become really good workers. From 30 to 50. But typically men peak at 50. Like, wherever you are in your career, that's the highest you're going to go. It's harder to move up from then because like you said, your energy, your time, your attention, it starts to drop. So I think it's slightly different for either. And women and men need to plan their lives that way because men need to be working hard and pushing from 30 to 50 because they're the primary breadwinners. Even women who are working, typically, they're relying on another source of income because half their time and attention is in the home. And then after that age, women need to be encouraged and supported because that's when they get this new wave of energy. And it changes the dynamics a bit. Because now they are working too and they can push. And that's when women get into senior job roles and higher positions at that level because that's when they have the energy where time is working for them. Because they're not picking up kids and going to the hospital and checking on this. That's when time changes and shifts for what they can make the most of it. But I think it's important, like you're saying, to think of your life this long, to plan these things out and be realistic and reasonable, have an ambitious aim and see what does it actually take to get there. Look at someone in your life, whether it's your colleague or your boss or someone you can relate to or ask questions. What is it actually like to get there? What did it take? What did you sacrifice? What did you invest in? Because we have to start thinking about that when we're young, otherwise time passes. I was recently reminded I'm no longer a youth. It's very scary, but time just goes. So if you're not being intentional about the small steps you're taking every day, you look back and you're like, where did the time go? What have I actually achieved in the last one year? In the last three years? How have I moved? It doesn't help to compete with your peers or to see what other people are doing. Oh, this one has this, this one has that. Everyone is on different paths. But where were you a year ago? Have you made progress on that? Have you improved? Have you met your goals? Have you made an investment? Have you saved more? Have you worked harder? Did you start something new? Did you get a new skill? I think when you're intentional with your time, it adds layers to you and it adds value to you as a person because you are the one who is moving through the time.

Okay, I agree and I concede the role of a woman is special. And God gave you the gift of, of giving birth. And we were excluded in that race. Unfortunately, in his wisdom, he chose what he was doing. But I think primarily, if we are to strip away everything and see what humankind is supposed to do, primarily on earth is to procreate. We've got to build our numbers and try and pass on our DNA.

But that's what it is in a.

Biological and old fashioned way. That's what people are supposed to do. So it's a very important role that the mother plays. A mother plays between whatever age she turns to a mother, until the time when she feels that the children are out of the nest and can stand on Their own. So it's a crucial time, which begs the point that young girls have got to be even more focused because they lose almost 10 years of their prime time there. Fortunately, because of what they go through in raising a child. It gives them a rudder, a rudder like a ship that gives them stability and gives them better focus so that they are safer pair of hands to engage with, to employ or to do whatever it is, whether they are doing their own business between the age of 30 and 50, because they are really focused, they are loyal, and most companies reward loyalty. They will not take risks, unnecessary risks. And you see how the global markets crashed when you see all these people. The men who dominate the boardrooms took chances and the markets crashed. So we've got to see it as a big plus that women have a special role and they're delivering. Unfortunately, in Africa, it's not enough. We need to get more women in the boardrooms, more women in key positions making decisions. So you've got a task. Lead the way, train those women. See how we can get more women into the boardroom. Have our full support.

Thank you. I'm working on it. It's an important factor.

Right. Thank you. So we'll end this discussion on that note and I hope it's been useful to most of the people who are listening to this discussion. We talk rather fast, both of us, but you can play it back at your own pace and break it down or send us questions and we see how it goes. We are happy to interact. The next topic will be an interesting topic and we're going to see how we can address time, but more in the eyes of the more mature people, those who have passed that 40 line and feel my life has gone by, what should I have done differently? What can I do differently now? Because you still got time. Fortunately, people are living much longer now in life and are healthier. So there's a lot more that can be done in your time and done effectively. But that's for another topic I'll leave on that note and thank you very much.