Startup advice seems to be everywhere! Over the past several months, we’ve all noticed companies closing down due to the COVID-19 Lockdown. And today, 5 months after the national lockdown was instated, more and more companies are closing their doors for good. We can all debate the legitimacy and the attack on our constitutional rights.
Entrepreneurs who are starting a new business often wonder, “Do I really need a business plan? Is writing business plans really the best use of my time?” The answer to these questions is almost always, Yes! A business plan is an integral part of starting a new business. A business plan is a very important
Startup mistakes, although common, is avoidable. So you have decided to start 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 your local community newspaper. You pay R15,000 for a website and a domain name that tells
Difficult customers are a part of every business person’s life. 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
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
Valuations of start-up companies, we’ve seen in the previous blog article, is an extremely complex but important aspect of the funding/investment application process. In our previous blog, we focused on the first 5 questions of 25 critical questions to answer that will help you understand what the investor is thinking when it comes to valuing your start-up
Planning to start a new business may involve hiring individuals that can share and execute your vision. When it comes to your business you must think of the positions you need – just like any other business. You may need positions such as a manager, a bookkeeper, a cleaner, an assistant, a driver, a receptionist,
Planning to start a new business will involve spending money. Sometimes a lot of it. Now you’re planning to spend money. You’re planning all the material goods you may possibly need – from a pencil to your premises – and everything in between. This is the time to be conservative…and smart! Start-up expenses for a
Feasible or not! Feasibility; an important component that so many new entrepreneurs fail to consider. Before you get to the stage of starting your own business, and opening your doors for the first time, there are two vital aspects that most individuals find very difficult; firstly, getting a new business idea and determining whether this new
Starting a business is a bit like moving into a new house – you are usually well prepared for the obvious expenses, but the hidden extras can break the bank. During the start-up phase of a small business, the business owner needs funds for once-off costs as well as at least six months of working
One of the most important aspects to consider when you start a new business is ‘How You Will Be Communicating With Your Customers’ and build your brand. This week we take a look at twelve (12) components (which is free to implement in most cases) that you can include as part of your engagement with potential customers.
Do you have what it takes to be a successful entrepreneur? Entrepreneurship. Entrepreneur. Entrepreneurial. Unknown words to some. Dreams of becoming one to others. With 2016 upon us and many ‘would be’ entrepreneurs contemplating entering the unknown world of entrepreneurship, it is perhaps a good idea to take a different look at What Makes An Entrepreneur. Sure