As the third-generation owner of Zippo Manufacturing Co., one question always dogs George Blaisdell Duke: “You guys are still in business?” It’s not that people want to be nasty, he says. It’s just that America doesn’t light up as much as it used to, so it’s a reasonable question for the most famous maker of cigarette lighters in the world. And he has a well-worn answer handy. “Well, of course we are,” he says, reaching across his office desk for Marlboros and his own personal Zippo, a silver one with waves engraved on it. “Business is doing very, very well.”
Never better, actually. Despite the 50% downturn in the number of U.S. smokers since the heyday of cigarettes in the 1950s, Zippo booked more than $200 million in sales last year – a record – and had the best May and June sales in its history in 2014. FORBES estimates revenue has increased by a compounded 14% in the past three years, thanks to a new, non-smoking CEO, Greg Booth, who pushed the 82-year-old manufacturer’s legendary lighters at a younger audience and expanded business in China. New products – a (legitimately appealing) clothing line and camping gear – and its first retail stores added fuel to the fire. “Zippo has maintained its iconicness,” says Timothy Donahue, an industry observer and editor at Tobacco Reporter, “and it has diversified quite well.” It’s a long way from the first Zippo, created by George Blaisdell after watching a friend struggle to light a cigarette on a windy day in 1932 in Bradford, Pa., a small town in the Allegheny Mountains where Zippo is still based.
He came up with a windproof chimney and the distinctive hinged lid – and guaranteed the lighter for life, meaning Zippo would continue to fix the lighter as long as its owner sent it to the factory. After soldiers received the lighters in WWII, Zippo successfully marketed itself with a utilitarian, made-in-America image for the following half-century.
Nonfamily CEOs ran it after the 1978 death of Blaisdell, who left Zippo to his family. By the 1990s his daughter Sarah Dorn and her son, Duke, had bought out the rest of the clan. “The more family members that are owners, the more directions that they think the company should go. Sometimes the privately owned companies don’t make it,” says Duke, who has since acquired his mother’s stake, too. “Sometimes people get impatient with the lack of temporary success, shall we say.”
Zippo hit just that kind of a rough patch in the 2000s. Duke won’t comment on how far sales plummeted, but his displeasure with Zippo’s performance can be felt in his decision to make Booth CEO in 2001. (Booth had been running Zippo’s knife making subsidiary.) With only himself to please, Duke could wait for Booth to find the solution. The average age of Zippo’s customers then still hovered between 30 and 50 years old. It needed to think younger. Or else, Booth thought at the time, “all the buyers will have Zippos in their caskets, like Frank Sinatra.” (The crooner was buried with his trusty silver Zippo in 1998; replicas were handed out at his wake.)
It needed to reach the generation – ages 18 to 24 – who were children when Sinatra died.
To do it the company shifted ad dollars from print to Google AdWords and sponsored music concert series. They churned out lighters with Jack Daniel’s imagery and others inspired by the TV show Sons of Anarchy. (Skull images have proved especially popular.) All told Zippo produced 30,800 unique designs last year – up from 8,900 a decade ago, a 246% increase partly owing to a new Zippo.com feature where you can design your own lighter from scratch.
Zippo has positioned itself as a maker of talismans, lucky charms – or something akin to customized belt buckles. “The Zippo lighter is a thing of taste,” Booth says. “Sometimes it’s used by folks just as a fashion statement.”
That’s also the guiding light Zippo is following in China. When Booth took over, the Chinese business didn’t exhibit so much as a pulse. Now it’s 13% of Zippo’s revenue (60% of sales come from overseas). Zippo first put boots on the ground there in 2012, and today it has a 15-person team in Beijing. It has opened 14 retail stores in China – Zippo’s first plunge into creating its own stores – with another 35 to come by 2015, all riding the idea of Zippo as an all-American lifestyle brand. The stores carry a Zippo-designed clothing line (logos on the interior tags only), with gear resembling J. Crew’s preppy woodsman style. The stores worked well enough for Zippo to open two Las Vegas stores – in the Luxor hotel and Planet Hollywood casino – earlier this year. Zippo has its eye on several more Vegas locations.
Another brand extension: camping products (grills, stoves, LED lanterns). It launched in 2012, and sales were around $3 million last year; Zippo hopes to hit $20 million by 2016. For now those products are partly made in China. Greater sales would make it economically feasible to move those overseas jobs to Bradford (pop. 8,600), where Zippo remains the greatest source of blue-collar jobs, employing around 950 workers. The Blaisdell family remains the town’s greatest patron, even making up the difference at the perennially lossmaking country club.
Not everything Zippo tried caught fire. Booth originally created an ambitious plan to hit $300 million in sales by 2010: “We had the economic downturn. That set us back dramatically in terms of sales.” Zippo also planned to acquire more companies. It largely hasn’t.
Success enough, though, for Duke to dread Booth’s retirement at the end of 2015. A replacement will likely come from within the company. Duke has no plans to step down himself, but he is actively cajoling both his twentysomething sons to take his place. One has already worked at developing new lighter designs while on his college breaks. “This is just a metal box,” Duke says, twirling his Zippo in his hands and drawing deep on a cigarette. But, he says, “there’s a lot you can do with a metal box.”
Analysis: The Values That Make A CEO
As part of FORBES AFRICA’s ongoing eighth anniversary celebrations, we present a CEO Rhetorical Analysis by Harvard University Extension School student, Anahita Negarandeh, on FORBES AFRICA’s founder and publisher, Rakesh Wahi. The CEO Rhetorical Analysis researches and analyzes the rhetoric — the effective messaging or speech — of a CEO and global business leader. The values chosen to explore in the CEO’s rhetoric are a key part of this article.
This rhetorical analysis examines the messaging of Rakesh Wahi, Founder of CNBC Africa and FORBES AFRICA. By consulting with approximately 10 executives from Wahi’s global team, this rhetoric examines four of his leadership values such as courage and determination, collaboration, passion for education, and equality.
Courage and determination
Wahi is a well-respected global businessman based in Dubai and South Africa who has been involved with approximately 20 corporate development projects. He continues to grow his establishments in more than 25 offices around the world. As a leader in media, IT, telecoms, and education, Wahi has built companies in 22 countries, employing over 1,000 employees. Prior to moving to the UAE, Wahi served in the Indian Armed Forces for approximately nine years and was awarded the Vishisht Seva Medal by the President of India in 1985 for distinguished services to the country in peacetime. During his army service, at age 23, he was part of India’s second base establishment in Antarctica where a near-death experience changed his life.
“But I realized at that age that life is not something you take for granted, therefore, whatever you want in this world, you have to set out to achieve it. At the end of the day, you are either there or not there; if you are not there, and if there are unfulfilled dreams, they will always be unfulfilled.” (Wahi)
READ MORE: 5 Minutes With Rakesh Wahi
Wahi’s executive team members, who have known him for approximately 20-30 years, believe this statement. Based on four personal interviews conducted for the purpose of this analysis with Wahi’s global leadership team, Wahi “lives this statement in his everyday life” (Martin). Many acknowledged that he is continuously determined to fulfil his dreams. Lars Jeppesen, Wahi’s Co-Founder of Tech One Global, states that “Wahi dreams and then puts all efforts to pursue the dreams… he is still building universities, creating new businesses, and pursues his dreams” (Jeppesen). Wahi is known to thrive on challenges and never gives up on achieving his goals even when faced with obstacles and challenges.
A leader’s personal life experiences and adversities play a major role in one’s values and ethics. In Wahi’s case, facing death at a young age motivated him to pursue his dreams to become realities. This is an admirable value for entrepreneurs, especially the younger generation. As a role model, Wahi teaches them to never give up despite challenges.
Collaboration & Importance of People
Wahi has learned valuable business lessons from his experience in the army, most importantly, the core lesson taught in the military about the importance of people and looking after them. His 2016 autobiography, Be a Lion, dedicated a section to The Importance of People. Books have had a great impact on Wahi, specifically the philosophy of reason from Ayn Rand while he was fighting for his life from the military life-threatening incident. As an advocate in the influence of others, he reiterates in his book, “That it is difficult to achieve anything without the involvement, commitment, loyalty, and assistance of others. When you come across a person with whom you can see a future, you must grasp the opportunity and mutually make the most of it.” (Wahi Ch. 1, location 173, par. 4)
Wahi executes his philosophy in numerous examples throughout his career, especially one with Daniel Adkins who is now CEO of Wahi’s Transnational Academic Group Middle East. When asked to describe a situation reflecting Wahi’s collaboration with and valuing people, this quality has directly been experienced, Adkins states, “I am probably the best possible example of this philosophy.” (Adkins). He describes his hiring experience entering the organization in late 2009 and rise from the most entry level position at one of Wahi’s Dubai-based universities, Murdoch University, to now CEO for the Middle East operations.
“Throughout this entire process, Wahi has provided both direct mentorship and mentorship by example and has made sure that I did the same for my entire team, which has produced fantastic organisational results including no turnover with regret for six years.” (Adkins)
READ MORE: The Most Defining Aspects Of Our Lives
As stated in Lancaster University Ghana’s Senior Management biography, Wahi’s “core focus is on long term corporate and leadership development through building strong management teams”. Adkins reiterates this statement in an interview: “Wahi absolutely lives this philosophy and demands it from his entire management team… the people are the business and there is nothing more important” (Adkins).
Wahi is known to have a special gift and skill to find loyal people and never hesitates to show appreciation to people’s loyalty. Wahi learned this quality from his role model parents, a father who was a military, corporate, and family hero and a mother who was not only Mother Teresa’s friend, but a genuine giver in life. In other words, Wahi is a “go back to your roots leader” (Al Abadilah). Wahi was brought up in a giving family and now gives back as a leader. Because of the people-oriented philosophies followed in his organizations, employee turnaround rates are phenomenally low. Everyone is treated like family and the principles presented in Ken Blanchard’s book, Gung-Ho!, are lived by management.
Wahi’s philosophy about collaboration and importance of people is truly refreshing in a CEO and business leader. In today’s individualistic world, leaders like Wahi who dedicate a major part of their leadership role to importance of people is a rare finding. Such values must be celebrated and promoted in all aspects of business worldwide.
Passion for education
As a sought-after speaker at educational institutions on leadership and entrepreneurship, Wahi received an Honorary Doctorate Degree of Science from the International University of Management by the Minister of Education of Namibia. He was also appointed as an IATF2018 Goodwill Ambassador by The Trade Finance for Africa. He personally learned and continuously teaches patience to other entrepreneurs in emerging markets. In an interview with CNBC Africa, The Entrepreneur’s Entrepreneur: Rakesh Wahi,about his book Be a Lion, Wahi shares he is “extremely passionate about education”. His vision is to set up educational centers of excellence across Africa incorporating new innovative industries such as online and hybrid aspects of education with traditional classroom environment. He has mentored many people in his leadership journey, but believes mentorship benefits both parties as he states in an interview with CNBC Africa: “Within a group, you always learn from each other. Mentorship is not a one-way journey, you learn every day from your peers, subordinates, seniors… If you are a student, you will remain a student all your life. You must be like a sponge, no matter your age.” (Wahi)
According to Adkins and Martin, executive partners at Wahi’s educational business sectors, Wahi lives his statement daily. Not only does he mentor his staff, he also learns from those on his team whether they are junior level or senior. Wahi has created a business culture amongst all sectors in a way that everyone learns from one another.
“There is no rank in the discussion. It is both intuitively understood and explicitly expressed that everyone’s ideas deserve equal consideration and we have made company-altering decisions based on input received from junior team members when those ideas turned out to be the best… It is absolutely the culture.” (Adkins)
Jeppesen, now Co-Founder of a tech enterprise with Wahi, states in an interview, “Wahi has been my mentor since we met 17 years back… Later, when we co-founded Tech One Global, he was leading our board and mentored me personally as the CEO.” (Jeppesen).
The culture of learning and mentorship from one another has saved the business in an example of a termination deal of one of Dubai’s university partnerships with a junior member of the team’s approach. This is proof that critical decisions are made, as a group despite rank levels. An important aspect of Wahi’s work is helping the leadership team rise to the next level.
Wahi’s decision to launch FORBES WOMAN AFRICA was to provide a platform for women entrepreneurs’ stories and the overwhelming waitlist of these stories in FORBES AFRICA.
“The main reason was that as a startup magazine, FORBES AFRICA was overwhelmed with a waiting list of stories from 49 countries in sub-Saharan Africa; by virtue of women having a late head start in the business world, the stories were largely dominated by men who had done great things to transform Africa.” (Wahi)
In a short period of time, the magazine has risen to be the material of choice for inspirational women stories, with fantastic content being produced. Equality is discussed in an article by FORBES WOMAN AFRICA, Celebrating Five Years with The Founder and Publisher: Rakesh Wahi.
“We have discussed the trials and tribulations of women in the workplace and become a champion for equality. The word ‘equality’ is a living value for us at the ABN Group and I am so proud that we have been able to personify our values through affirmative action.” (Wahi)
READ MORE: Equality As A Living Value
According to a partner of over 35 years, Rajiv Podar, “Wahi has always respected and admired hard-working women and a firm believer of equality at workplace and home… Most of his senior colleagues are women too” (Podar). In an example from a former female executive at one of Wahi’s first ventures 20 years ago in Dubai, Maha Al Abadilah discusses the value of equality she experienced as a woman working with Wahi. “I have never experienced anything that distinguished a man and a woman, nothing but full respect and treating us with our pure qualifications and titles.” (Al Abadilah.14:19).
Wahi repeatedly demonstrates his firm belief in his statements amongst his team members. When a decision is to be made for an important matter, all team members discuss as equals. “It is both intuitively understood and explicitly expressed that everyone’s ideas deserve equal consideration.” (Adkins). Evidently, not only the value of equality is present within his ABN Group amongst women in the workplace, but also amongst all employees. Gender and rank are clearly not considered in any team discussions and decisions.
Wahi’s leadership approach and personality embodies unique values such as a life-changing incident, the collaboration and importance of people, a passion for education, and equality. As he was personally approached for research purposes of this analysis, he promptly welcomed connections with over 10 executives and partners of his global team who were all eager to help. Research results and personal interviews with warm responses from his team members and partners portray all qualities examined in this analysis positively. Wahi lives his statements and is a true people-oriented leader.
Adkins, Daniel. “Re: Business Paper Inquiry – Harvard University.” Received by Anahita Negarandeh, 12 Dec. 2018.
Africa, Forbes Woman. “Celebrating Five Years With The Founder & Publisher: Rakesh Wahi.” Forbes Africa, 27 Sept. 2018, www.forbesafrica.com/woman/2018/09/27/celebrating-five-years-with-the-founder-publisher-rakesh-wahi/.
Al Abadilah, Maha. “Phone Interview, Rakesh Wahi Analysis” Voice recorder. 18 Dec. 2018.
Bandyopadhyay, Somshankar. “Military Lessons in Entrepreneurship.” GulfNews, 15 Mar. 2017, https://gulfnews.com/entertainment/books/military-lessons-in-entrepreneurship-1.1994221.
Bishop, Chris. “Re: Chris Bishop CNBC Africa.” Received by Anahita Negarandeh, 12 Dec. 2018.
CNBC Africa. “Rakesh Wahi Reflects on CNBC Africa’s Decade of Broadcasting.” CNBC Africa, CNBC Africa, 1 June 2017, www.cnbcafrica.com/videos/2017/06/01/rakesh-wahi-reflects-on-cnbc-africas-decade-of-broadcasting/.
CNBC Africa. “The Entrepreneur’s Entrepreneur: Rakesh Wahi.” CNBC Africa, 4 Nov. 2016, www.cnbcafrica.com/news/special-report/2016/11/04/be-a-lion/.
Jeppesen, Lars. “Re: Business Paper Inquiry – Harvard University.” Received by Anahita Negarandeh, 12 Dec. 2018.
Lancaster University Ghana. “Rakesh Wahi Chairman.” Lancaster University Ghana, www.lancaster.edu.gh/our-faculty-details.php?id=45. Accessed 8 Dec. 2018.
Martin, Gary. “Re: Business Paper Inquiry – Harvard University.” Received by Anahita Negarandeh, 12 Dec. 2018.
Naicker, Roberta. “Re: Business Paper Inquiry – Harvard University.” Received by Anahita Negarandeh, 12 Dec. 2018.
Podar, Rajiv. “Re: Business Paper Inquiry – Harvard University.” Received by Anahita Negarandeh, 12 Dec. 2018.
Vettath, Malavika. “Global Entrepreneur Rakesh Wahi: ‘I’ve Been a Very Bad Personal Investor’.” The National, The National, 25 May 2018, www.thenational.ae/business/money/global-entrepreneur-rakesh-wahi-i-ve-been-a-very-bad-personal-investor-1.733606.
Wahi, Rakesh. Be A Lion. Penguin Books, 2016. Kindle eBook file.
Wahi, Rakesh. “Re: Business Paper Inquiry – Harvard University.” Received by Anahita Negarandeh, 12 Dec. 2018.
Forbes Africa | 8 Years And Growing
As FORBES AFRICA celebrates eight years of showcasing African entrepreneurship, we look back on our stellar collection of cover stars, ranging from billionaires to space explorers to industrialists, self-made multi-millionaire businessmen and social entrepreneurs working for Africa. They tell us what they are doing now, how their businesses have grown, and where the continent is headed.
Since its inception in 2011, and despite the changing trends in the publishing industry, FORBES AFRICA has managed to stay relevant, insightful and sought-after, unpacking compelling stories of innovation and entrepreneurship on the youngest continent, in which 60% of the population is aged under 25 years.
Many of those innovations have been solutions-driven as young entrepreneurs across the continent seek to answer questions that have burdened their communities.
Always on the pulse, FORBES AFRICA has chronicled and celebrated those innovations – prompting the rest of the globe to pay attention and be fully engaged.
A prime example of this is the annual 30 Under 30 list, which showcases entrepreneurs and trailblazers under the age of 30 from business, technology, creatives and sports. In 2019, we had 120 entrepreneurs on the list, finalized after a rigorous vetting and due diligence process to well laid down criteria.
We have always maintained the highest standards of integrity in all our reporting.
As we transition into the next milestone, FORBES AFRICA reflects on the words of civil rights activist Benjamin Elijah Mays, who once said: “The tragedy of life is not found in failure but complacency. Not in you doing too much, but doing too little. Not in you living above your means, but below your capacity. It’s not failure but aiming too low, that is life’s greatest tragedy.”
With the transformation in the media landscape, the recent awards given to the magazine for the work done by a hard-working, determined and youthful team, serve as a reminder that we are doing something right.
Early this year, FORBES AFRICA journalist Karen Mwendera received a Sanlam award for financial journalism as the first runner-up in the ‘African Growth Story’ category. In January, FORBES AFRICA’s Managing Editor, Renuka Methil, received the ‘World Woman Super Achiever Award’ from the Global HRD Congress.
In reflecting on the last eight years, this edition revisits a few of the strong, resilient men and women who have graced our covers.
For some, fortunes have literally changed, as witnessed in the fall of gargantuan African empires such as Steinhoff. Of course, there have been massive moments of triumph too, which have seen some new names feature on the annual African Billionaires List. There have also been moments of tragedy with former cover stars passing away.
Africa is ripe for the taking and is seen as the next economic frontier. The unique position the continent finds itself in will no doubt give FORBES AFRICA plenty to report on. Here’s to more deadlines and debates for the next eight years.
– Unathi Shologu
Having A Ball With Data
Stephan Eyeson started a basketball business at the age of 19. That venture failed, so he tried the data business instead. He is working and playing hard.
First, the facts.
Africa has a data problem. For all the talk about data being the new oil, the continent comprises about 12.5% of the world’s population but only accounts for less than 1% of research output, according to global information and analytics firm, Elsevier.
And Survey 54, an AI mobile survey platform solving the problem of data collection on the continent, wants to offer a solution. Founded by Stephan Eyeson, Survey 54 focuses on providing good quality data essential for governments and private businesses to accurately plan, fund and evaluate their activities.
READ MORE | Owning The African Narrative
“Data in Africa is such a prevalent problem, in a sense of when you are going to start up a business, it is hard for you to get consumer data on say ‘how many people eat out in Lagos every day? what is the transactional value? what are the types of things that people eat? what do they want to eat etc?’ All these things are available in the West but for people who want to move into Africa for business, how do they get their data to make their decisions and how do we make it really easy for them and not just for a startup but for even governments and larger businesses,” says Eyeson.
Fresh out of a master’s program in innovation and management from Loughborough University in the United Kingdom (UK), Eyeson joined Survey Monkey, an online survey development cloud-based software as a service company, as part of the team responsible for building their enterprise function in London as well as looking after customers in the EMEA (Europe, Middle East and Africa). After learning the ropes, he decided to branch out to start his own company to offer a more robust and tailored solution for the African market.
“For people who want to move into Africa for business, how do they get their data to make their decisions and how do we make it really easy for them?”
“The problem around data in Africa and emerging markets is a massive one. So, for us, it’s about how do we become a data platform not just for a company but for governments to help them understand their people easier.”
Data is the first step. Then you need intelligence around that data to enable you to make objective analysis that will shape your decision-making process, as well as provide the foundation for policy-making and budgeting.
“Instead of hiring an agency to go to Ghana and do a face-to-face interview, for example, we look at how governments can get mobile data faster and then how they are able to manipulate that data to get the results they need,” says Eyeson.
Due to the dearth of knowledge, Eyeson’s unique understanding for the data space is relied on by many startups and larger businesses who depend on his expertise to drive results in Africa.
“Stephan has great expertise in strategy and high-level corporate business development. Survey 54 has and will be instrumental for companies to make decisions within Africa and emerging markets, making it easier to use and understand consumer data. A platform like Survey 54 is essential for companies operating on the continent,” says Nana Adomako, head of UK & Ghana growth at Taptap Send.
Born to Ghanaian parents in London, Eyeson’s first stint at entrepreneurship began in his early years at university, when his dream to become a professional basketball player was shattered.
“I had a scholarship into America for basketball and that scholarship was taken away due to some technicality with my results so I couldn’t go and so I started a basketball business instead when I was 19. It helped Americans play in Europe and Europeans play in America. I made the system easier. So, players paid a monthly fee to get seen and coaches paid to get access to talent.”
But unfortunately, the business failed to take off because the market was not big enough for Eyeson to remain profitable.
The data business, on the other hand, is huge: worldwide revenues for data and business analytics are forecast to reach $189 billion this year and $274.3 billion by 2022, according to technology market research firm IDC. Even though Survey 54 is in its first full year of business, the company has already secured contracts with multinationals like Colgate, amongst many others.
READ MORE | A Germ Of An Idea
“I was one of Survey 54’s first clients and it has been a pleasure watching Stephan grow the company into what it is today, working with some of the world’s largest brands.
“There is a significant lack of data in the region so the need for a sophisticated data insight product is essential and I believe Stephan’s mission-driven leadership style will enable the company to become one of the largest software businesses driving investments to the content,” says Yvonne Bajela, Principal and Founding Member at Impact X Capital.
The company has recently secured a spot on the coveted Startupbootcamp platform in Cape Town. While Survey 54 is trying to secure a first-mover lead in data on the continent, challenges remain. As the company scales, they will need to overcome the language barrier across the African continent and learn to interpret data by bringing the cultural context into the surveys organizations are seeking.
Eyeson has his eyes set on moving into the US markets as a long-term plan, but for now, the goal is transferring the abundant and ubiquitous asset of data in Africa into millions for his startup.
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