Often entrepreneurs get ‘tetchy’ at the thought of competition. This should not be the case. Competition makes you get to the top of your game and if you, as an entrepreneur are threatened by competition, you need to rethink your dream to be an entrepreneur.
Competition is challenging, through provoking, creative and most of all creating that edge that your business needs to stay ahead of the competitive pack. If you are Continue reading “Increasing Competitiveness of Business”
On a daily basis I get numerous inquiries from our #WomenInBusiness website regarding help/guidance needed for business ideas. http://www.womeninbusiness.org.za
One of the issues that is raised consistently is the fact that the enquirer is ‘not making money’ and they need help with marketing their product. In discussions with the entrepreneur I generally discover that they have taken the focus of their core business and diversified into a number of other unrelated products/services. This diversification is particularly onerous when the range of products/services is from health care, through to construction to catering. Such a wide variety of offerings can only be detrimental to the entity. No entrepreneur, especially a small emerging business, can cope with this kind of diversification. Through the interactions and mentoring process it becomes clear that the entrepreneur in question has been given unsound advice by friends and family. They have often invested large sums of money registering a company. They have not taken into consideration the onerous reporting procedures required of a company nor the accountancy costs. The entrepreneur is under the impression that if they are a registered company they can obtain finance and are eligible for tenders. Then they offer every single service they can think of without proper planning, testing the market, assessing their customers, no business plan or financial plan. No vision or mission. When questioned as to why they are not trading as a sole trader business, which is less onerous, they are ill informed as to the benefits of being a small business to start off with.
It is so sad that many aspiring entrepreneurs do not seek advice from reputable organisations or service providers. In the long run it would have saved them large amounts of money, time and disappointment.
On our website is a link whereby members of the public are able to contact us and we will assist and start the mentoring for free (limited number of sessions). We will also direct genuine entrepreneurs to reputable service providers who can assist them in their entrepreneurial journey.
Today I set out on an event that I have never participated in before. Purely because I have always had something else on at the time. However this weekend was the right weekend and I set out on the Capital Climb event in Pietermaritzburg. 15 kms of grueling testing of the legs on a pure uphill climb to World’s View and a pure downhill back to Voortrekker School. The event was a test of determination. The hill climb started on the tar road, led into a dirt road and then a slippy track which was extremely steep. Once at the top we could not see the view due to the mist, but just the sheer delight in having conquered the muscle stretching climb to the top was enough.
This event made me think of how entrepreneurs have to climb many hills of various challenges in order to make it to the top of their game. If you give up you have achieved nothing, but if you keep going and continually encourage yourself you can do anything you set your mind to. The event required training and preparation, as does a business. You have to be mentally and physically fit to be in business. You need to ensure you have all the necessary knowledge to ensure your success. BUT you cannot have immediate success without having to slowly find your way to the top. Quick success leads to quick failures. Rather slow and sure to be able to manage and plan the business path.
Today’s event taught me a lot about tenacity. In one’s own life, private and business, this tenacity will go a long way to ensuring success. Don’t give up because you can do it.
Today I am feeling my age and my body agrees. Two days participating in the #Mandela Legacy events has taken its toll, BUT it has been such fun and I have loved every minute of it. Yesterday I participated in the 8 kms Trail Run from the #Mandela Capture site up through the hills and back down again. Beautiful private farmlands that we were privileged to be able to walk through. Today was the #Mandela Marathon. I participated in the 21 kms. A hard hot walk, but well worth the effort. Continue reading “#Mandela Legacy lives on”
Reading through news sites, twitter and other social media there is a common theme of corruption and fraud. Lack of integrity seems to becoming a social norm. I ask, with tears in my eyes, how can humans be so dishonest, unethical and lack basic social skills that they take, indiscriminately from other humans. Often those who take, have more than they can use, yet they continue to take and marginalize those who do not have and dis-empower the poor even more.
Our very own watch dog who collects funds for the government, South African Revenue Services (SARS) has done exactly what we as tax payers are not supposed to do. How can they be telling us, the tax paying public to be honest, when they themselves are not honest?
“SARS GUILTY OF BREAKING ITS OWN LAWS
The Auditor General found that the SA Revenue Service in 2017 flouted the Income Tax Act by overstating its compliance figures in public documents. The findings, in an AG report dated March 2017, came to light yesterday during public hearings in Pretoria for the Nugent inquiry. Tax compliance refers to making payments to the revenue service in full and on time in line with relevant legislation. SARS apparently stated that its compliance level was at 91.14%, which according to the Auditor General is not true. The commission of inquiry, appointed by president Cyril Ramaphosa, is probing the state of corporate governance, revenue shortfalls and allegations of misconduct at SARS. (Fin24)”
This is nothing short of disgusting. Heads need to roll and with immediate effect. It’s time government servants were made to pay and pay dearly for their greed and lack of integrity. Lead by example!
I read this paragraph and it just made my blood pressure rise.
WOMEN WOEFULLY SHORT ON BOARD REPRESENTATION
Female representation at senior management and executive levels in South Africa is still, on average, only 20%. This is according to the REMchannel report by PwC that also showed that 61% of the women are remunerated below the median of the sample, compared to just 39% of men. By contrast, 63% of men are remunerated above the median, compared to just 37% of the women in the sample. The survey looked at remuneration data for more than 550 participating organisations and just over 4 000 senior managers and executives. Globally, there is renewed focus on the pay disparities between men and women, the report says. It argues that corporate South Africa still needs to focus on ensuring that the number of women at senior management and executive level is increased, in addition to addressing gender pay inequalities. (Fin24)
The reason for my ‘moment’! Why are we not appointing people to positions for which they are qualified and skilled? Why does it have to be about #gender and even #race for that matter. We must stop being stereotypical and allow people to be appointed for what they can do for an employer/company to improve productivity and service delivery. The job description carries criteria and key performance areas. So whomever you have in the position should be paid for their performance not on what body parts they were born with!!
In South Africa we have a Department of Women. Why? What is this department doing for our entrepreneurial women? In fact what is this department doing for our women in general? Absolutely nothing. Minister Bathabile Dlamini its time you did what you are being paid an astronomical amount for!
Leadership is an action, not a position. Donald McGannon