How to diversify and grow your business to enter new markets
The ultimate aim of starting a business is to grow. Starting with a small business that one day is a large and profitable enterprise is the dream of all entrepreneurs. Getting to where you want to be can take many small steps, changes, and adjustments along the way. Here are four pointers on how you […]
Five new business resolutions for your small business
The new year is the opportunity for everyone to start the year with a clean slate. Your business is no different. It is the time of year to relook at your business from a different perspective and decide what can stay, what needs to go, and what you can improve on. Let’s look at some […]
Supporting your teams’ mental health in the workplace
Nobody could have predicted the length of the Covid-19 pandemic or the impact on everyone’s mental health. The workplace has become a hive of anxiety, not only from a business perspective, but having to social distance, wear masks in the office, not touch anything in the kitchen, and of course, manage any illness or exposure […]
Disadvantages of buying into a franchise business
It may seem like a great opportunity to buy into a franchise business, but you also need to be aware of the pitfalls. Getting into a formal agreement with your franchisor can be a precarious process. Formal contracts The formal agreement can be pretty hectic. Make sure you do not rush this process. You need […]
Are you considering buying a franchise?
Before you dive headfirst into buying a franchise, there are some key elements you need to consider. Do a sense check for compatibility. If you are not a night owl, buying into a restaurant that serves dinner will not suit you. Make sure that the business you enter into can fit your lifestyle. Study the […]
Productivity Tips for Small Business Owners
Battling with Productivity? Running a small business is not for the faint-hearted. It runs very differently to a large corporate. It has different needs and limited resources. Here are some productivity tips you can use in your SME to improve your operations and increase your productivity. 1. Prioritise your most important tasks of the day/week […]
Re-evaluating your evergreen contracts for your business
We seldom re-evaluate the evergreen contracts we enter into as a business. You should do a sanity check on your business expenses every year. What are evergreen contracts? These are the agreements you make with companies and suppliers for goods and services that auto-renew unless one or the other party gives notice, these often auto-renew […]
Save costs on non-essentials in your business
Looking where to save on costs is hard. We all know there are nice to have’s in your business. The frills and luxuries that make it all worthwhile. We are all recovering from lockdown and the pandemic impact on our businesses. Now there is a need to evaluate where we are spending our cash. Here […]
Why is an audit important
An audit and auditor’s report is a third-party document. It is a reflection that the company’s financial statements are compliant with the law and free from material misstatements. Banks, creditors, and regulators can require an audit of your company’s financial statements. If you are looking for finance, loans, surety, or selling your business. Types of […]
How business partnerships can benefit your business
2021 is the year to set up your business for success. It is also the year or collaborations and partnerships. There are some strategic factors of your business you can review to optimise your business. There are three main parts to your business: Key strategic elements The inner core of the business includes all the […]
Focus on your customer to grow your business
As a business owner, your role in the company is not to be so hands-on that you do not take time to have conversations with your customers. When times are going well, you should have regular contact with your customers to ensure the relationship remains stable and your mutual objectives remain aligned. When times are […]
Can a Covid-19 vaccine save your business?
There are so many unanswered questions surrounding the Covid-19 vaccine. For the industries battling to open, restaurants, alcohol, and tourism can benefit vastly from the vaccine. The question on everyone’s lips right now is who gets to be in line for the vaccine first. If you can get it, should you? Who is in front […]
How monitoring future trends keeps your business alive
Many industries have found themselves on the wrong side of trends history. Take the analog camera and film industry. Kodak was the leader in their field for many a decade. They did not anticipate the impact of the digital camera market on their business. The digital camera industry did not expect the camera on everyone’s […]
Capitalising on future trends for your business
The way we do business and how we speak to our customers is changing forever. There is no end in sight for social gatherings, so holding customer events and even meetings in the office is something we all need to adapt to. There are some new ways of working that can improve our businesses. Here […]
Using downtime to plan and prepare for the new year
Everyone needs a break after a long and challenging year, but when you are running your own business, you can benefit from taking a day or two to plan and prepare your business for the next year. Outline your Objectives for 2021 Taking a few hours to think about what you want to achieve in […]
Supporting local means supporting your neighbour
It takes some special occasions for South Africans to be supportive and patriotic about their country. The 1995 World Cup was one of them, the Soccer World Cup we hosted, and more recently, Siya Kolisi raising the Web Ellis Trophy in 2019. South African consumers see glitz and glamour in imported products and brands. And […]
Entrepreneur Burnout is a real thing
For small business owners, regular office hours or a planned holiday is far from the top of mind. The Covid-19 pandemic’s stress has placed many companies under a financial strain, and the pressure is starting to mount. Before you lose your cool at your staff or suffer a road rage incident, consider what the stress […]
The Importance of forward planning
For so many SME’s, forward planning is not a priority. As many of the companies are owner-run, time is in short supply. The scheduling of forward planning sessions is essential to scope the projections for the next quarter. You need to know what will get you there. The Covid-19 pandemic caught many businesses off-guard. A […]
When times are tough, the tough buckle down
Many small companies struggle with the debate about when to double down and work harder to achieve growth and success and when to let go. Before the Covid-19 pandemic hit, many companies were already teetering on the edge of collapse, and all it took was one or two months with no income to fold the […]
Don’t wait too long to seek finance for your SME
One of the biggest mistakes small businesses make is waiting too long to apply for additional finance for their business or operation. Staying on top of your cash flow is an essential part of running the business successfully and critcal in growing the company. If you wait until you really need the money, you can […]
The Importance of separating your personal and business finances
Keeping your personal and business expenses and finances separate when starting a business is essential to how your company operates and how it is perceived by the corporate world when you are looking to finance or sell your business. Keeping your assets shielded from any business claims is imperative; otherwise, you may lose everything if […]
Employing staff as a small business
So often, companies just starting are a little wary of hiring staff to help them out during the business’s early stages. These fears may be due to the insecurity of income, being able to cover your expenses first, or even the deer in the headlights freeze of not knowing which position to fill first. Employing […]
Customer Retention is critical to your business
You don’t have a business if you don’t have customers, and customers do business with people. That is why it is so critical to have customer retention strategies in place. Many small business owners are so busy trying to manage and run their company that they don’t spend time getting to know their customers and […]
5 Proven Benefits of Remote Working Staff Members
Remote working is not likely to go away anytime soon. Companies that have set up their employees to work from home have found great advantages to this way of working. Lowered Business Expenses They are saving in rent space, security, cleaning costs etc Consider the reduced need for coffee and tea in the office, companies […]
