I wish I can get stats on this post and know how many people started reading it without finishing it. My bet is, that most won’t finish it. Because my thoughts will make most people uncomfortable. It’s the shit we don’t want to hear, but so desperately need to hear.
Last year on 31 December, I posted the following on Facebook:
In a recent report by World Wide Worx, they looked at the state of small businesses in South Africa and found that competition was an entrepreneurs greatest challenge when it comes to starting a new business. It was a very interesting finding, as it’s not a factor for most of the other countries.
Why do South Africans see competition as such a big challenge and how can we overcome it? That’s what I want to talk about in this insert: 5 ways you can overcome your competition.
In my previous insert, I spoke about how you can start your own business. I was so surprised with the reaction the viewers had regarding BEE. I received a few messages from people that felt that they can’t start their own business in South Africa because of BEE requirements. Therefore, I decided to speak about BEE and why it doesn’t have such a big influence on small businesses.
For the last few months, I’ve shared advice regarding the business world and everything that creates a successful business. The world of entrepreneurship has never been an easy place and even though I’ve been working with a lot of small businesses the last 10 years, I’ve also built up my own successful businesses. Today I’m speaking about my own lessons and my own path as an entrepreneur.
I see so many times in the business world that small businesses make a lot of profit but fail because of terrible cash flow. This may not make sense – You make a great profit, but you have no money? This is exactly why I’m doing this insert; How to get your cash flow up to scratch.
Everyone dreams of starting their own business, a picture of freedom and a pocket full of money, but that’s unfortunately not always the case. The life of an Entrepreneur consists of hard work, risks, and a lot of failures. If your dream is to become an Entrepreneur, let me share with you how to start your business.
20 years ago, information wasn’t as easily accessible as it is today and registering a patent could still derive a lot of money. Today, Google has changed our lives forever and to start a new business doesn’t necessarily mean a new idea. Today a new business means, how can I make something better, faster and cheaper.
Marketing, Sales, Product development, Accounting and many more facets of a business become the responsibility of a new Entrepreneur when starting off, and why – to save on COSTS. One can’t possibly get to everything, every day and that’s when the penny drops. Do you continue to try to do everything yourself, do you employ someone, or do you look at outsourcing the work to a business that can manage it for you?
South Africans are known to love trying to do everything themselves and have neologized the term “DIY”. Personally, I think it’s the greatest downfall in a lot of businesses today. We believe we can do everything ourselves and that nobody can do it better than us. At the end of the day, when your business stops growing and it’s no longer viable to run, you find yourself asking why you never sort the necessary expertise to make things work.
Gone are the days where businesses are required to spend insane amounts of money on purchasing and maintaining good desktop applications, the solution – Cloud Applications. What does this mean? Cloud applications are software programs that work via the internet and aren’t stored on your computer or desktop. This new age technology is changing small businesses as we know it.
Two such applications that are affordable, user-friendly and the future of small businesses is; Email and Accounting software.