Business wellbeing

Stay relevant to stay in business

The way you run your business is often based on what you believe made it a success in the first place. Your plan of action is based on the credence that what worked in the past will work in the future. As long as this philosophy works its fine, but to what extent does is actually work? When I visit entrepreneurs and start asking questions about their business model, how long they have been in business and why they think their business is still...
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Marketing your business effectively

The world has changed, nothing is a given any more, not even an effective marketing strategy of the past. Habits and trends are different and the way consumers think and buy is different. Technology has progressed in leaps and bounds. To market your business effectively, you need to be on top of all of this. In the past you told the customer, now they tell you. They want choices and they want to make the decisions. No longer can you “tell th...
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The do’s and don’ts of business expansion

At one time or another, every business goes through a growth spurt and, whether it’s a multi-national corporation or an entrepreneurial enterprise, expansion is a tough process to navigate. The real danger for any expanding business is that it does so too quickly or in an uncontrolled way. When this happens, cash flow and customer satisfaction are usually the first casualties and, in extreme circumstances, these can result in the demise of a...
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Growing your business

If your business is established, you already know the ins and outs of your business environment. However, with market trends changing as often as they do, it is important to stay abreast with these changes and keep your options open. With the SME environment becoming increasingly competitive, it's important to keep an eye out for new opportunities and possibilities. If expanding your business is something you want to explore, here are some tip...
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Assessing your company’s financial position

If you're not so clued up about the accounting and financial side of your business, you may not realise how an in-depth financial analysis can benefit your company. Learn how to get the most out of your financial information. You may think that because you have good bookkeeping and accounting processes in place and your cash flow is under control, you can sit back and relax. Unfortunately, you'd be wrong. This is the perfect time to do an in-de...
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Assessing your company’s financial position

If you're not so clued up about the accounting and financial side of your business, you may not realise how an in-depth financial analysis can benefit your company. Learn how to get the most out of your financial information. You may think that because you have good bookkeeping and accounting processes in place and your cash flow is under control, you can sit back and relax. Unfortunately, you'd be wrong. This is the perfect time to do an ...
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Time to start looking at income growth again

2014 looks like the year in which business owners will be shaking themselves out of the mindset of survival through cost cutting to one of expansion through income growth, says Anton Roelofse, regional general manager of Business Partners. His own gut feeling as an experienced SME financier is backed by surveys which suggest improving confidence among business owners. The latest results from the Business Partners Limited SME Index shows a five pe...
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Networking activities crucial to sme development and growth

Building relationships with the right individuals is key to the success of a business, due to the long lasting and powerful effect a favourable relationship can bring about. This is according to Gugu Mjadu, Executive General Manager of Business Partners Limited, who says that networking is one of the most useful ways for start-ups to build a business and increase their profile in their respective industries. Mjadu explains that for the self-emplo...
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Owning your business premises can spur business growth, says entrepreneur

Owning your business premises is often more difficult than renting it in the first five years of the bond, but the advantages are clear when you fit it into your long-term vision, says Leon Botha, financial-services entrepreneur and co-owner of the building in which his company is based. Leon, founder-director of Optimate Financial Solutions, is about to find out just how true this is. Exactly five years ago, he and his business partner, Scientia...
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How do I as entrepreneur grow my business beyond start up?

During start up, a company tends to be very sales driven – operations are fast paced, highly flexible and often chaotic as people experiment with new ideas, stay close to customers, and do whatever it takes to grab opportunities to increase sales. At this stage the entrepreneur is doing everything: Design the product, call on customers, negotiate the bank loan, sign the cheques, appoint staff and probably even make the coffee! This situation is...
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