Meried Bekele's professional journey started when he was hired as a network engineer after he graduated from Mekele University as an Electrical Engineer. His knowledge in designing networks for a private company helped him build a strong personal brand in the networking profession, but because of his eagerness to hunt further opportunities, he transitioned to a government entity where he pursued additional training and obtained expert certifications. Meried's achievement as the first CCIE (Cisco Certified Internetwork Expert) in Ethiopia was significant, it paved the way for him to work as a networking consultant at Ethio Telecom and take on various part-time roles.

Meried Bekele was born and raised in Addis Ababa, Ethiopia. He is the Founder and CEO of IE Networks, a B2B company providing networking services specializing in the implementation, consulting, and network design to banks, universities, government entities, and multinational corporations.

Recognizing Meried's expertise, people suggested him to formalize his work into a company rather than continuing as a part-time professional. Consequently, he founded IE Networks over 15 years ago, while he became an unintentional entrepreneur. At IE Networks, their focus is on streamlining company operations through technology, specializing in automating network-related tasks using information technology by integrating both hardware and software solutions to optimize efficiency.

Transitioning from Professionalism to Entrepreneurship

Recognizing his lack of management skills, Meried decided to pursue a Master's degree in Business Management. Upon establishing IE’s first office with five or six employees, he embarked on a transformative journey by attending a series of week-long courses at Harvard Business School, and this experience proved to be enlightening with one particular moment leaving a lasting impact on his time at Harvard, Meried recalled the final day when each participant was gifted two books, one of which featured the title "Fire Someone Today." He stated, the importance of executives being willing to let go of an employee who hinder the realization of the companies vision and core values.

Meried remarked, “founders should acquire fundamental lessons in leadership and management.” Short courses offered at institutions like Harvard and programs such as the Stafford SEED course can offer valuable insights, particularly beneficial for those with limited leadership experience.

Talent Management 

For years, Meried has dedicated 15-16 hours a day, with over 50% of his daily efforts focused on human resource management due to the scarcity of skilled individuals with the necessary technical knowledge, which is often not adequately covered in universities.

Meried clarifies the importance of adhering to weekly targets and attributes failure to laziness or a lack of passion for the work. Inspired by John Doerr's book "Measure What Matters," he implements the OKR (Objectives and Key Results) management system at IE Networks. Meried highlights a key lesson displayed prominently at the gate of his office, "Ideas are easy, execution is everything." articulating the need for timely execution of plans, as prolonged projects are considered failures.

IE Networks facilitates quarterly one-on-one conversations between employees and their direct managers, as well as there are meetings between employees and the CEO, to address the overall challenges and strengths of the company. Meried believes in an approach that balances appreciation and constructive criticism, underscoring the importance of goal-setting, celebrating achievements, and providing candid feedback to foster growth. 

Recruitment at IE Networks adheres to an 80/20 rule, with 80% of employees being fresh graduates who grow within the company, valuing discipline, work ethic, and a passion for growth. The company is uncompromising in its commitment to cultural fit, new hires are given probationary targets to achieve within 60 days, and ongoing performance is evaluated using the OKR system aligned with the company's culture. Termination follows the country's policies for employees facing dismissal if they are consistently late for eight days within six months. 

The IT Sector

Meried underscores the significance of the current era of technology, highlighting how past billionaires may have amassed wealth through industries like oil, fashion, or global supermarkets, but today's landscape is dominated by technology. He advocates for prioritizing technology as a cornerstone of national policy, citing its crucial role in fostering economic growth due to its indispensable presence in our daily lives. The potential of the IT sector asserts that it has the power to revolutionize the lives of Ethiopians, and Meried envisions a future where Ethiopia's commitment to developing its IT infrastructure could lead to significant advancements, and if the right systems in place, companies like IE Networks could emerge as major players even in the telecommunications industry.

B2B Sales in Ethiopia

B2B sales in Ethiopia, particularly for IE Networks operate within complex frameworks as they serve customers such as banks, universities, and government entities. IE follows a sales model with an average sales cycle of one year, and the purchasing process employed by customers can be intricate, requiring a deep understanding of their specific needs and preferences. 

In B2B sales, it's important to ascertain whether customers prioritize quality or are more concerned with cost-effectiveness, and the sales personnel must possess a thorough understanding of their customers. As the high stakes involved - even minor issues, delays, and shortcomings in performance can result in disqualifications and repercussions, potentially leading to significant financial losses.

It is also important to maintain a selective approach to customer relations. The necessity of parting ways with customers who exhibit unethical behavior, negativity, or prolonged delays in payment can detract from the company's focus and undermine its success in the long run.

Success Principles

Meried defines success by the influence he provides on leadership and the growth of his team witnessing individuals thrive within the environment he has cultivated. Additionally, establishing public institutions is another hallmark of success for Meried, he is eagerly anticipating the opportunity to transition IE Networks into a public brand through the capital market, drawing inspiration from examples like Bill Gates, whose ownership stake in Microsoft is less than 1.5%.

Life Wisdom

Meried imparts valuable life wisdom, underscoring the importance of being a perpetual student, believing one can glean lessons from every experience if he/she maintains a willingness to learn. He advocates for self-comparison with our past rather than external benchmarks, recognizing ego will impede growth. Meried asserts that anyone can evolve if they embrace the mindset of continuous improvement, explaining that bold visions are not that essential, instead the focus should be on striving to become a better version of oneself each day.

Eventually, we want to share the books that Meried suggested as many of our audience members requested. Here is the list of 30 books Meried shared categorized into 4 areas:

I. Continuous Self-Improvement:

1. Mindset by Carol Dweck

2. Grit by Angela Duckworth

3. The 10X Rule by Grant Cardone

4. Ego is the Enemy by Ryan Holiday

5. The 5 AM Club by Robin Sharma

6. The ONE Thing by Gary Keller and Jay Papasan

7. Never Stop Learning by Bradley R. Staats

II. Acquire Basic Management Skills:

1. The One Minute Manager by Ken Blanchard and Spenser Johnson

2. The Goal by Eliyahu M. Goldratt and Jeff Cox

3. Measure What Matters by John Doerr

4. Getting Things Done by David Allen

5. Extreme Ownership by Jocko Willink and Leif Babin

6. Radical Candor by Kim Scott

7. Hire for Attitude by Mark Murphy

8. Fire Someone Today by Bob Pritchett

III. Grow from Management into Leadership:

1. Good to Great by Jim Collins

2. The Founder’s Mentality by James Allen and Chris Zook

3. Thinking in Systems by Donella H. Meadows

4. Think Again by Adam Grant

5. Dare to Lead by Brene Brown

6. Turn the Ship Around by L. David Marquet

7. The Five Dysfunctions of a Team by Patrick Lencioni

8. Emotional Intelligence 2.0 by Travis Bradberry and Jean Greaves

IV. Learn from Successful Entrepreneurs:

1. Principles by Ray Dalio

2. Elon Musk by Ashlee Vance

3. Steve Jobs by Walter Isaacson

4. The Everything Store by Brad Stone

5. The Snowball by Alice Schroeder

6. Shoe Dog by Phil Knight

7. Titan by Ron Chernow

P.S. This article is a summary of our podcast conversation with Mr. Meried Bekele, featured in May 2013.

Thank you for taking the time to read! For further insights from Meried Bekele, Click Here to enjoy the complete interview on the Meri Podcast YouTube channel!