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Where do good ideas come from?

John Ward's House
John Ward’s House (Photo credit: Lawrence Whittemore)

If you think you’ll get your best ideas from standing in the shower think again. You might be lucky to receive a sudden flash of inspiration in the shower but most of these ideas are unlikely to be strong enough to launch a viable business.

The reason is simply that such “pure thought” will probably not be bounded in the reality of the marketplace. Sure, if you suddenly combined two concepts or objects that you had found in the marketplace, then your idea may hold promise. There are always exceptions to any general rule. Continue reading “Where do good ideas come from?”

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How would you solve this small business problem?

Marahon shoes
Marahon shoes (Photo credit: Wikipedia)

On an early-morning run the other morning I noticed that three metal drain covers had been stolen during the night. It’s no mystery that the tough economy and increasing levels of unemployment force people to steal drain covers to sell them for scrap.

After my run by a felt pain in my joints and decided to get my running shoes checked out at the local running shop when I had a chance. On Saturday I went to the running shop with my shoes and asked the person behind the counter for help. His advice was to show me a new pair of Nike Pegasus running shoes that provide superior cushioning. Continue reading “How would you solve this small business problem?”

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Are you failing fast enough?

failure
failure (Photo credit: ‘PixelPlacebo’)

Some small business owners fail big time. On a radio show the other evening a small business adviser told the story of a business person who secured a large order with a chain store. The owner went to his bank, took out a big loan and built a plant to manufacture product. The chain came back and renegotiated the product’s price and made it clear that his business would need to pay for delivery costs. He hadn’t factored these costs in his business plan and now he is on his way to financial ruin unless he comes up with a solution fast.

How do you deal with failure? What have you learnt from failure? What are the more effective ways of dealing with business failure?

First time entrepreneurs fail a lot. In fact, many Internet marketers brag about their early failures and recite many valuable lessons that they have learnt from their failures. Continue reading “Are you failing fast enough?”

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Cut costs to the bone

Axe
Axe (Photo credit: coconinoco)

By now if you haven’t cut costs in your small business, it’s about time you do so. Would-be start-up owners need to plan their business using a low-cost model. Small businesses with a lower cost base stand a better chance of survival in this recession.

Cost cutting can start anywhere. I know of one business woman who looked at her inventory and realised that she didn’t know exactly how much stock she was losing. Stock was disappearing through untrustworthy staff. So she implemented daily stock taking. This soon gave her far better control and awareness of just how much she had lost. She could put in preventative measures. Continue reading “Cut costs to the bone”

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Is your customer service giving your small business the competitive edge you want?

Spatchcocked on the Kettle
Spatchcocked on the Kettle (Photo credit: Another Pint Please…)

You hear and read it everywhere. Customers complaining about banks and insurance companies with long and drawn-out horror stories of frustration and personal loss.

This is where there is an opportunity for small business owners to outshine their larger business counterparts but many small businesses miss out because they don’t give it enough attention, have a system in place and train their staff adequately.

Continue reading “Is your customer service giving your small business the competitive edge you want?”

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The spirit of free enterprise

English: The historical centre of Simon's Town
English: The historical centre of Simon’s Town (Photo credit: Wikipedia)

My father would go down to the small bay in Simon’s Town, down from the high sand dunes in the palm trees, to the strip of beach where before the early morning sunrise he would cast out his throw net from the shore. On those mornings he was there to net harders and other small fish that he could use for bait when he went out on his ski boat to catch yellowtail off the Bullnose and kabeljou and geelbek off Strandfontein or Cape Point. Continue reading “The spirit of free enterprise”

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Make your idea happen (even if you don’t think you’re ready)

IDEA
IDEA (Photo credit: mlinksva)

What does it take to get your new business idea off the ground? How do you make your new business idea happen? How much is it going to cost?

The challenge about starting anything new – and I’m not talking about inventors here – is that you need to be fairly high up the food chain to make your new business idea into reality. What I mean by this? I mean that you need to have the skills, time, motivation, contacts and money to make your idea happen.

Continue reading “Make your idea happen (even if you don’t think you’re ready)”

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How do you make your small business more productive?

English: Product icon for MindView mind mappin...
English: Product icon for MindView mind mapping software. A productivity tool for MatchWare A/S (Photo credit: Wikipedia)

In this economy with high labour costs, low productivity and increased competition it’s worthwhile to look at your productivity in your start-up or small business.

The place to start is with yourself. As the title track to a Uriah Keep rock song went “Take a look at yourself”. As the driver and main performer in your small business you need to make sure that you are as productive as you could be. All it might mean is getting a full night’s rest, eating food that keeps you focused and alert and working in an environment where your temperature is controlled to the correct level. You may also want to watch noise. Some people like to crank up the music but others like a quiet environment where they are at their best. Continue reading “How do you make your small business more productive?”

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What would you choose? Investment finance or small business advice?

Marinus van Reymerswaele (Follower of) (Zeeland, The Netherlands, 1490 - Goes, Zeeland, The Netherlands, 1546)
Marinus van Reymerswaele (Follower of) (Zeeland, The Netherlands, 1490 – Goes, Zeeland, The Netherlands, 1546)

Sometimes we can meet the right person at the right time and it seems like luck. But is it luck? Perhaps it’s at times when we are most down that we open ourselves up and let strangers into our lives who can help us.

When I was going through a difficult period I met an old-school sales person and financial adviser who gave me so much help that I could never really pay him back. He shared his business methods, dug out his old sales training material from years back and took me door to door on “knock, knock” sales calls. I learned to live skills from him that you won’t find at high school, in your university studies or even sometimes in families, no matter how well meaning they are. Continue reading “What would you choose? Investment finance or small business advice?”

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Emotional triggers that help increase sales

Sita Kuratomi Bhaumik from the United States demonstrated at the World Food Festival from 18 September to 27 October 2013 in Rotterdam that "eating together establishes an emotional bond between people. This has always been the case wen will always be so" according to the artist's statement. She created a wall of spices, such as paprika, green tea, purple yam, coriander, cumin, cloves , cardamon, cinnamon and tumeric which triggers the collection of thoughts and stories of the visitors with various migration backgrounds.
At a World Food Festival in Rotterdam an artist showed how eating together establishes an emotional bond between people. She created a wall of spices, such as paprika, green tea, purple yam, coriander, cumin, cloves , cardamon, cinnamon and tumeric which triggers the collection of thoughts and stories of the visitors with various migration backgrounds.

Although you’d be embarrassed if anyone saw you doing it, what food do you still eat like you did it when you were a kid?

My weakness when I’m in an emotional state is peanut butter. When I was a kid are would stick a knife into a jar of peanut butter, take out a huge dollop and spread it over buttered bread. I used to do this when I got home from school in the afternoons especially in winter when I needed to replenish my energy. But over the years I’ve always made sure that I have a peanut butter jar the cupboard in case of emergencies. I might be feeling low and need to break open the jar and get stuck in. Peanut butter has that soothing effect on me that helps me cocoon. Continue reading “Emotional triggers that help increase sales”