The feel-good life coaching industry would have people believe that success is not only about showing up in the swirling whirl of modern life, where essentials like health, shelter, and education twirl alongside transportation and capital formation. After all, the industry was estimated to be worth 2.4 billion dollars in 2022, growing by 19pc a year. Its gurus insist that success is about meticulous planning, a dash of wit, and a good deal of nerve. However, these sectors do more than meet basic human needs. They are the pistons in the engine of economic growth, driving activities and boosting quality of life. Insights from those in the trenches show the delicate balance individuals make as they go about their daily grinds.
From the astute reflections of the experts presented here Girum Ketema, Bereket Abebe, Melat Nebyou, Aster Asfaw and Michael Kebede – a vivid picture emerges: success in various sectors relies not on chance but on informed decision-making and thorough groundwork. The guiding principles remain unchanged, whether it is the share market, acquiring properties, bracing for childbirth, embarking on higher education, or venturing into electric vehicles. Do the homework, understand the financial and regulatory terrain, and always be prepared for the unexpected. In the end, these are not simply investments in stocks or property.
The experts interviewed reminded TIZITA SHEWAFERAW, EDITOR-IN-CHIEF, that these are investments in life itself.
Take Girum Ketema, the seasoned CEO of EGA Management & Finance Solution Plc, a sage in the consulting arena with over a decade of experience. He is the go-to for potential shareholders keen on diving into the murky waters of company stocks. He believes in the importance of grasping the regulatory environment, mainly keeping abreast of the latest missives from the Capital Market Authority.
“Potential shareholders need to identify any gaps in regulations and understand the protections available,” he advised, pointing out that a deep dive into the specific sector one plans to invest in is more than worthwhile — it is essential. The know-how is the compass that helps investors steer through returns, market trends, and potential pitfalls.
But it is not all about rulebooks and regulations.
The human element, specifically company leadership, plays a starring role. He believes a thorough vetting of a company’s executives can speak volumes. Charisma is but part of the equation. Clarity of purpose and transparency give a pigeonhole view of a company’s long-term prospects. Before prospective shareholders lay down a dime, Girum insisted, they should thoroughly analyse the company’s financial health — profitability, liquidity, solvency ratios, and other key financial metrics. “Strong leadership boosts investor confidence,” he said.
Not one to put all his eggs in one basket, Girum champions diversification. By spreading investments across various sectors, investors can buffer themselves against the shocks of adverse events in any single sector.
Switching gears to real estate, meet Bereket Abebe. He is a consultant with a keen eye on the intricacies of property buying. His advice is first to verify the authenticity of real estate developers and their track record in delivering homes.
“Buyers should assess the developer’s capability to fulfil promises,” he cautioned.
Understanding legal nuances in real estate transactions is critical, according to Bereket. The sway of market value is influenced by forex; he advised potential buyers to keep a vigilant eye on exchange rates. Location, as always, is king in real estate. Properties near city centres or essential services usually command higher values, and Bereket suggested that strategic locations should top the list for better investment returns. Ensuring alignment with Addis Abeba’s master plan can safeguard long-term viability and ease compliance headaches.
On the healthcare front, Melat Nebyou, an obstetrician at Assela Referral Teaching Hospital, brings a focus on childbirth preparation. Packing a hospital bag with essentials for labour, delivery, and postpartum care is the start.
Says Melat: “Being organised helps ensure a smoother experience during childbirth.”
She attributed regular prenatal check-ups to monitoring health and preventing complications. Expectant mothers should brace financially for emergencies, as some services or items might not be available at public hospitals. The emotional rollercoaster of motherhood is not to be underestimated either. According to Melat, the importance of a robust support system is to help manage the seismic shifts and potential for postpartum depression.
