Interview with Tray-Sean Ben Salmi (PART 2)
Impact and Vision
Q: In your view, what role does diversity play in creating real social impact?
A: Diversity is incredibly important, as it means that let's say you have a diverse board of directors. It means that there are a plethora of different experiences, backgrounds that come into play when it comes to solving any issue at hand. They're able to tackle turbulent times I would say in a better way, simply because of the fact that there's that diverse background. Also, financially you find that diverse teams tend to outperform others by around 39% according to McKinsey as well, and I think things like diversity are needed, but I think it's diversity in a certain way. As unfortunately you do see instances within companies where people simply have a diverse board just to tick a box, as opposed to having a diverse board where individuals are actually able to fulfil the tasks that are required for their roles. So I think diversity that takes place in the right way is something that's definitely worthwhile. Not only does it contribute to the firm financially, but it also inspires others, I think if you're able to, I don't know, look towards a company and see that someone from a certain background has gone on to do these fantastic things, then it's something that I guess gives hope.
It's something that inspires others to go out and strive for more. I think that's something that is needed, especially, with regards to industries such as finance, where it is heavily dominated by men, so I think it's definitely needed as I guess this reoccurring theme within an industry can definitely push some people away from heading in. So I think that it's definitely something that benefits all really, and it's something that can be done in a way where it doesn't feel as though you're trying to change things for the sake of changing things. It's a case of having diverse board members, they are still able to get the job done to the same level, if not at a better level we're in. So I think just making what these people are there and creating awareness around them would definitely help with inspiring others to go forth and follow their passion, regardless of whether that's within the industry.
Q: Where do you see yourself in the next five years? And what's the next big goal or project?
A: I'm slightly undecided as we get to the end of my degree, I'm unsure as to whether I'd like to head into the industry for a couple years or whether I'd like to simply just pursue what it is I'm doing now. I'd say five years from now, I would love to have a separate company set up where we're able to actually provide a lot more education for those who are looking to head into the industry. It's something that we're currently working on, it's a rather time-consuming process as it does take a while to go about securing partnerships and things like that, so I think five years from now, I'd say, certainly traveling a lot more given that there'd be a lot more time on my hands. Traveling a lot more and simply just sharing the importance of financial literacy as a key focus on investing. I think that for me, like, the reason why I guess I focus on investing as opposed to other areas within financial literacy is I think that with regards to teaching people how they're able to work towards financial freedom, it's easier done when they are able to increase their income as opposed to teaching them to, I don't know, like, there's this reoccurring theme, whenever people talk about finance and it's like, reduce your spend.
And yes, it's doable to a certain extent, but let's say someone's, I don't know, like, only 1000 pounds a month or something like that, it isn't really doable, especially if they have other people who are depending on them. So I guess just telling them to lower their costs, it's rather heartless. And I guess that's where other things such as investment come into play, as if you're able to depend on your risk appetite, you are able to make a lot more than others, but I think it, at least for me personally, I think that it does make sense to focus on investing. That's how you're able to for starters set yourself up for let's say passive income in the long term. But you're also able to make some short-term investments where they have higher risk and you're able to attain a much larger reward, and that can definitely contribute towards things such as these expenses, and then allow you to then look towards, like setting up savings and things like that, but say a couple years from now, I would definitely love to have a lot more, a lot more resources and a lot more things out there to then, I guess allow people to make the most of the education, the skills that individuals like myself have had access to from young age. Just as within the world of investing me sharing investments that I've made and things like that, it doesn't detract from my earnings at all, and I think that's what I, that's why I love investing so much, as there are other industries where me making a sale means that someone else isn't able to do so, whereas with investing it isn't like that at all, and I think that's why I also love it so much, just as it's something that I'm able to talk about, something I'm able to share knowing that it won't actually affect the outcome of a position for me.
Advice for Students and Emerging Leaders
Q: What advice would you give to students who want to make a difference but feel they lack resources or connections?
A: I guess with regards to resources, you'd be surprised how many businesses you're actually able to run without any upfront costs. There are so many, like, there are a plethora of resources that we all have access to where you would be able to, I don't know, start up a business from scratch with little to no upfront cost. There are several organizations out there, where let's say you have a business idea which would actually contribute toward society, you are then able to go about attaining a grant. This is something that myself and two other family members have worked closely with the actual organizations to improve their funding process to ensure that for starters, it's something that's accessible, but it's something that has a certain level of flexibility for slightly more unique business ideas to still have a chance of receiving funding without having to with a grant obviously you don't have to give up equity in a company or get any capital if you go down that whole route of gaining a grant. I guess with regards to resources, there's that, but also understanding that there are several people who are more than willing to have some sort of involvement for free, and they have little to no expectations whatsoever. Like, let's say there's someone who's had a pretty successful career and they are simply just looking to pay it forward. So I think that there is definitely that route that they can consider
And then I'd say with regards to, I'd say with regards to connections, this is an interesting one as I guess, there are some industries where you obviously do need connections. They are important. They definitely are. There are several people who are more than happy to, I guess, allow you to tap into their own respective networks. Most people are incredibly forthcoming and are willing to allow you to tap into their network however this will only be the case if they feel as though you will have a positive impression on whomever they are looking to connect you with as there have been several instances where people have opened up their network to individuals only for members of their network to feel, though they are being exploited. So I’d say if you are looking to make use of someone else’s network, then it is simply about understanding that coming across as this individual who is simply looking to take all the time is off putting so it’s about understanding and simply remembering that we are human at the end of the day if you’re constantly coming across as this inhumane individual who is only interested in opportunities and never looks to add to those around you then you’re ultimately closing the door in your own face so making use of connection connections whether they be connections of your own or connections of all the individuals is certainly doable provided that you go about doing so in a certain way. For instance, when I first started to work with Social Profit we went through this stage early on where my involvement was kept to a minimum and it was to figure out the type of individual I was and to understand what ‘being in business with me looked like’ as time went by I had more involvement and started to have meetings with some of our stakeholders - It then got to a point where my involvement was incremental to us bringing in over $100k within 3 months and that was mostly done through leveraging our networks to attain new business. I’m saying all this to say that you shouldn’t shy away from reaching out and creating opportunities for yourself but ensure that you’re doing so in a way where there’s a mutual benefit and in a way that doesn’t tarnish the way that others see the individual that introduced you to this individual that can add to your life and business.
Public Speaking and Communication
Q: What’s the most memorable moment from one of your TEDx talks?
A: From the TED Talks, I'd say the first one was on financial literacy, as financial education simply should be made fun. If I was able to learn equities at a young age, I don't see why people can't look to make financial education and financial literacy more engaging. I've gone into academies, I've volunteered, simply just sharing the importance of investing with young people and they've enjoyed it. Some of them have been aged anywhere from 12 to 16, but also with 16- to 18-year-olds as well as several young adults. So, I think things such as financial literacy should be taught to young people, as it's something that's incredibly important, irrespective of what industry you're looking to head into. You should have some level of understanding around how to manage your finances effectively. Outside of TED Talks, it was I think early this year, we flew out to Dubai to talk at this global summit that was happening up there, and I was talking about economic development within the Middle East and Africa as well. This is something that's incredibly important, as I first started looking toward those two regions I'd say around two years ago just as there's a lot of untapped potential. I think that they're able to make use of their resources in a way that allows them to still have ownership over, and I think that those two experiences were definitely moments that I'll cherish.
Q: Public speaking can be intimidating for many students. What’s one mindset or technique you use to manage nerves before going on stage?
A: Initially, I was terrified and it wasn't easy at all, especially getting thrown into the deep end at a young age. I remember the very first time I got on stage, I was 10, maybe even 11, and at this Australian guy's event, and he called me up and I was just like, "There's no way that he's talking to me.", he's called me onto the stage, and I was terrified. He said to me "Tray, take it easy. How about you introduce yourself and tell us about your favourite football team?", because I had an Arsenal top under my shirt. So he was just telling me a bit about this and I think just starting off with something that you're passionate about, for me obviously it's investing, definitely helps to reduce the nerves. And then other than that, if people have shown up to this event, they already think that you have something worthwhile to share and that you’re definitely worth listening to. So, yes you may be on this stage thinking that these people are judging me, and that’s completely normal, everyone will think that. But I think it's about understanding that they've shown up, and they are here to take in whatever it is that you have to share with them.
And I'd say just start out very slow with things that help you feel more comfortable, more settled, and then after that it's a case of simply just using pauses. Let’s say you forget what it is that you're going to say, learning to use a pause when you speak at times is something that definitely helps. It gives you a second to remember whatever it is that you need to say. But also, to the audience, if it's done correctly, it definitely adds more importance around what it is that you're saying, so it's a win-win. I'd say it should be something that becomes more doable over time. So, if it constantly feels as though you're struggling to get on a stage after doing so numerous times, maybe try changing the topic. Or maybe even changing the way in which you deliver this talk because I guess although you're talking to an audience, you don't constantly need to be stood up. There are times where you may feel as though it's better suited to be sat down when delivering a specific talk on a specific topic. So, I think just understand that, yes public speaking it's one thing, but you're also able to personalize it in your own way.
