Relationship Dividend: The Beginning

The beginning of the year, as usual, has been like drinking water from a hosepipe at full blast.

Within four weeks of you all screaming 'Happy New Year' into the ether and/or directly into each other's faces, we have run two bootcamps, and I have attended two conferences, including at least six side events.

Why, you ask? I know why, do you?

Someone told me they are convinced VCs go to conferences for pictures, and who am I to deny you? Attaching pictures like mad.

Anyhow, I am going to try to give you a quick rundown of why I did it and what value I got. The summary? The relationship/network dividend and the value of engaging with intention.

I don't know that the conference structure, as it is today, holds much utility. After the COVID lockdown, we were all so excited to fist bump and see other humans; the idea of being in a crowd was actually electrifying. However, now, I can only think of one reason.

Relationships.

In January, I was involved in 2 bootcamps, one in Abidjan and one in Accra. Two ecosystems I haven't had the chance to be in for 3 years. I continue to understand that sometimes the Big 4 excitement forces us into a bubble, but the truth is, founders everywhere continue to build and solve real African problems.

And I can't help but wonder how I can invest in all of them. I have a very healthy obsession (I think) with African innovators. It gives me life being able to be involved. Like, just involve me.

The other thing that was very clear in both markets: networks are, in fact, a currency, relationships are currency. No amount of Google ads and sponsored posts would have unlocked the access we got in both markets. Relationships from some of my networks, like Dream VC, continue to be invaluable, and my friends? They can get me into any room, in front of any person.

And I think that is 1 of the top 3 things I can say I have achieved in the last 14 years of my career.

Lesson 1: Whatever this life tries to tell you? Relationships will prove to be the most valuable.

Observation 1: We need a lot more capital flowing in at the pre-seed stage, and please note I didn't say venture capital. I just said capital.

Anecdote 1: As per me, I cannot afford the lifestyle and prices in Accra and Abidjan. You people are rich?

I could easily live in any of these markets. I love them both.

I will say, industry-specific conferences are probably more valuable than the more generic ones. Conversations are more targeted and everyone is relevant to you.

Maybe I should do like a conference review :-) Like a conference connoisseur, you know.

I am always very interested in the Agri, and climate industry. We need to eat, how do we make sure we can invest in businesses that allow us to do this?

Lesson 2: Industry-specific events will likely return more value to founders than broader events.

Observation 2: Founders hate VCs. I have a separate article on the culture in VC from founders' eyes and how this is a direct translation of where the money comes from. We need to repair relationships.

Anecdote 2: Me, if you ask me a question, kindly do not expect the publicly acceptable version. I am committed to honesty.

Then I went to the Africa Tech Summit. As always, they bring together everyone from across the continent, and this is always valuable.

Being able to congregate a lot of the best minds in African tech in the same week and get all the updates in one go. *Chef’s Kiss.

There were so many side events, and boy, I went to them all. Ok, no, many of them; ok, no, only some. I appreciate the smaller events because conversations are more targeted, and I generally appreciate a smaller group. Despite how I sound, look, and act, I am in fact very shy :-)

Lesson 3: It is important to go in with intention. This is true for all of life, but specifically for networking. It is very possible to leave your house at 8 am and go back at midnight and literally achieve nothing.

Observation 3: Sometimes, the side events and sector-specific events give more value. The group is smaller, more targeted, and all with similar goals, so you can speak to more relevant people.

Anecdote 3: You can always tell when the photographer at these events hates you. Why did the picture with my Eyes shut make the final submission?

Anyway, outside of making sure you all know I have been working :-) Not to say, conferencing is my job, please.

I wanted to emphasize that we have learned to ignore many things in exchange for monetary value or immediate returns. But I cannot tell you how much more valuable relationships and networks are. People invest in people; people invest in what they know and understand.

There has to be a way to measure network and relationship dividend, because that is a thing. Build relationships as a priority.