Start-Up Businesses: Wrong Fiscal Assumptions

Forecasting is the art of saying what will happen, and then explaining why it didn’t. Anonymous (communicated by Balaji Rajagopalan) The South African landscape lends itself to the fact that many individuals have limited education and training on basic financial literacy skills. These individuals form part of the pool of prospective entrepreneurs. Without basic financial literacy and

Top 5 Reasons Why You Need A Business Plan

Anybody beginning or extending a venture that will consume significant resources of money, energy or time and that’s expected to return a profit should take the time to draft some kind of business plan. But there are many reasons to write a business plan, including the following five: 1. You want to start a business. The

Who Is Just in Time Business (JTB) Consulting?

Okay. So you have a great idea for a new business. Maybe you’ve even invented something that’s extremely mind-blowing and life-changing! Now it’s time to make sure you have all your bases covered so you can get started attracting customers and making money!  Logo Designed – Check! Website Built – Check! Social Media Pages Up and Running – Check!

Reputation … This Can Make Or Break Your Business

REP-U-TA-TION: The estimation in which a person or thing is held; especially by the community or the general public; repute: a man of good reputation. “A man (woman) of good reputation”. If you are like me then that is definitely how I want to hear people talk about me and how I conduct business. Reputation is everything in the Business World. Whether you’re an online company or a multi-billion dollar corporation,

A Little Competition Never Hurts Anyone

Although most Entrepreneurs dream of having a market all to themselves, it has been shown that you’re probably better off with having some kind of competition. People usually think that with no competition the entire market for their product or service will be theirs.  If nobody is competing in your space, it’s probably save to

To Be Or Not To Be … In A Business Partnership

Let’s be honest, business partners, like parents and spouses, are rarely perfect and comes with their own set of challenges. Deciding on whether to take on a business partner is a very important decision that you might have to make. If you made the choice that this is the way to go in taking on

Entrepreneurship Should Be Cultivated From An Early Age

Colour inside the lines, use your inside voice, always ask for permission, don’t talk to strangers, don’t talk when the grownups are talking, wait your turn in line. The list goes on and on of what children is told to do while growing up. Unfortunately, children are consistently hearing messages at a young age that can have

Dealing With Difficult Customers As A New Entrepreneur

The importance of knowing how to deal with difficult customers during the infant years of your new start-up company can’t be overstated. Being equipped with this knowledge and interpersonal skills can assist in ensuring your company’s long-term survival. As cited by Dr David Freemantle, “To create a relationship and therefore a likeable connection with a

What Are Your Reasons For Starting A New Business?

The decision to start your own business is probably one of the most difficult decisions you’ll ever take. There are so many unknown factors to consider, most of which you won’t even think of during the early stages of your decision-making process. A key component to your decision is establishing whether you have the characteristics

Beware Of Using A Generic Business Plan Template And ‘Scam Consultants’

Having a new business idea is great! But, without a business plan, or using a generic cookie cutter business plan template a business is essentially rudderless, and day-to-day activities are likely to be haphazard and reactive, in stark contrast to those businesses implementing a well thought out business plan. Unfortunately, there are a number of

The Top 10 Mistakes Made By Start-Up Companies And Entrepreneurs

So you decide to startup a business. You have an idea. Let’s say you want to be a carpenter. You print some brochures, some business cards, and take out an ad in the Yellow Pages. You pay R8,000 for a website and a domain name that tells everyone about your amazing credentials and experience. You