How much money does someone need to be happy? What amount of money once you accumulate, you do not need to work anymore? What makes you happy? The answer may be difficult than you think. Pursuing money is not an easy endeavour. It is difficult to have enough of it. Whatever you earn, you keep yearning for more. It is like eating popcorns – you cannot settle until they are finished. You are unlikely to stop looking for money. Now is the time to enjoy what you do as you earn it. Are you in the right department? Do you…
What is your relationship ‘glue’?
On 5th June 2010, a former old boy at the oldest and pre-eminent University in East Africa, Makerere University, called asking for help. He requested over a phone call for my support in his upcoming wedding preparations. I hesitated, but he insisted. After almost two years of no contact, this call came like a stranger. I appreciated the call and the request. To show his seriousness, that very evening he came to my office. We reminisced the University times and how we were buddies. He had been a close friend during our time at the campus in the MBA class.…
Why NGOs must diversify to unrestricted funding?
Restricted funds are ones that donors provide for defined programs and specific activities with clear performance indicators. The organization is not required to ‘vire’ or relocate to any other activities other than the ones the donors specified. It this inability to freely apply the funds to new and emerging priorities that make reliance on donor funds difficult. Imagine a not for profit organization like the Red Cross which provides disaster response and crisis management engagements, it must first revert to the donor if it needed to redeploy any available funds to other most pressing needs. By the time such approval…
How much do board members get paid? Part 2
Any candidate worth to become a board member is in high demand. They have special skills for being on the table. As the appointing authority, you must find some form of remuneration for your board members. Generally, organization pay board members as follows: Sitting allowances – members received about the US $50 to US $200 dollars per sitting depending on the size of the organization. Not for profit usually, provide transport refund of about US $50 per sitting. However, as not for profits (NPFs) strive to diversify revenues to increase unrestricted income, board members with business acumen are increasingly being…
How to gain personal advantage and win in your life
Around 2010, I received an air ticket to travel to Johannesburg for a job interview. I was so excited. I had applied for a job at a regional company. This was a second time, luck was smiling my way. Way back in 2007, a similar opportunity arose and I took it. I failed the interviews. When I send an email asking why I had not to go through the answer was simple: size. The panelists thought that the job needed someone bigger size than I was. This time I worked on my leadership presence – you know trying to command…
How much do board members get paid?
Are you a board member? Are you paid monthly or quarterly? I am asked this question frequently. Corporate governance has evolved so are board practices. Gone are the days of volunteerism. To attract and retain the best talent, you must consider some form of remuneration. There are two types of board – not-for-profit and for-profit boards. Most not-for-profit need volunteers. Do not join those boards expecting some form of payment. However, like all boards, you may receive a sitting allowance to help recover your travel costs to and fro the venue of the meeting. It is not good to expect…
