In our society, failure has become some sort of an unmentionable occurrence. None of us likes to talk about it. But we all know it’s there. Scrolling through articles, social media posts, etc. we look at other “successful entrepreneurs” and immediately these images and narrative invites us with the allure of ample time and freedom
We’ve all heard the stories of kids starting a business at a young age. It’s a tempting scenario: Your child develops a passion for something, turns it into a business, and before you know it, they’re supporting you in your not-so-old age. Generation Alpha are those born after 2011. In 2050, the eldest Alphas will
Turnover is Vanity. Profit is Sanity. But Cash is King. Most of us are familiar with the saying. Cash flow management is the key to success for many new and growing small businesses. Cash is the fuel that makes any new business work; hence, these businesses should be managed with a primary focus on cash/cash
You already know who Millennials are: people born between 1982 and 2000. But who are Millennipreneurs? They may not be small business owners yet, but entrepreneurship plays a significant role in their lives. According to a survey of millennials by EY and Economic Innovation Group, 78% consider entrepreneurs successful, and 62% have considered starting their own
Before I start off, let me be upfront by saying, 99% of would-be entrepreneurs out there do not have the funds to buy an existing business. But, in an ideal world, if you do have the funding available, it would be worthwhile to look at the reasons why buying a business is an easier path
Lately, I’ve been rethinking Business Plans. On the one hand – in the consulting, finance, investor and academic world – what is meant by a Business Plan is a fairly comprehensive research project. It includes a thorough analysis of issues including customers, markets, competitors, pricing, marketing strategies, risks, with detailed multi-paged financial projections looking three-
One of the hallmarks of a proper Business Plan prepared by a world-class Business Plan Company is being open to disconfirming information. Any reputable Business Plan Consultant will provide you with factual and informed recommendations on the hypotheses you made on your new business idea. Now let us apply that principle to the decision
There are several reasons why entrepreneurship is a popular choice. From being your personal boss to creating time for yourself to name a few. It’s no surprise that more and more people have selected to start their businesses. Although starting a small business is a new exciting step for every new business owner, it can
The South African petroleum industry is still in its beginning stages, even though the history of the industry dates to the 1940s. For the first 20 years of the industry, almost zero development took place, except for light exploratory efforts. Then, after less than a decade of international development, another period of almost 20 years
Every four years, athletes from around the world gather to show off their physical skills and prowess. For many, the Olympics are the pinnacle of their careers. But what can business owners learn from Olympic athletes? The idea that you have to spend years and years without a certain payoff is true of both. During
If we look to the wisdom of some of the greatest minds in recent history, we can find a wealth of knowledge and advice. Here’s what we can learn about the entrepreneurial journey from their experiences. Safari Tip #1: Recognise patterns as they are forming The entrepreneur has an advantage if trends, patterns, and changes
After all the late nights and pressure-filled days, your business is finally up and running. Congratulations, you’ve made a leap that many South Africans aspire to. And while it may not all be smooth sailing from this point – recent research by Xero research has highlighted that one-third of small business owners find the first