To start something new that you know virtually nothing about can be terrifying. Staking your money and your life on starting a new venture of any size requires dealing with fear of the unknown. How do you overcome your fear of starting something from scratch?
Some official was supposed to be inspiring young men and women about small business but ended up making nasty, unkind remarks about the origin of business people in the country. Sadly, this official was just displaying typical ignorance. The official even made some off-hand comment about certain people having “business in their blood”, which was a sweeping generalisation.
This is the kind of nonsense that is spouted from uninformed people who merely display prejudice and inaccurate thinking. But do you really have to have business in your blood to be a successful small business person? Continue reading “Does business have to be in your blood?”
Brian was a ski boat and bluefin tuna angling pioneer in South Africa.
My son, who was working on a yacht in Europe, sent me a photograph of a tuna he had caught in the Adriatic Sea. He was thrilled because it was the first game fish he had caught out of South Africa. The tuna was most likely an Albacore which is a tuna species found in the Adriatic Sea.
It was fantastic to share the excitement from home with him as he told me about spotting the shoal of tuna while sailing in the Adriatic. He quickly got out a rod and reel with a spinner on it and cast into the shoal and hooked one. Continue reading “Is entrepreneurship in your blood?”
One man dreamed to be an entrepreneur. He attended a college, studied electronics and telecommunications engineering. At the age of 21 he took his first entrepreneurial plunge.
He started developing a liquid level controller to automate water pumping motors for residential apartments. Despite “slogging for 18 hours a day” and an early encouraging performance, his first venture could not take off. Mistakes he made early on turned out to be very costly and the business had to close.
This entrepreneur reckons that lack of analysis resulted in flawed plans and no contingency plans. He also lacked experience in various activities such as design, manufacturing, sales, finance. Because of this the result was several wrong decisions and with very little capital, the mistakes were “irreparable”. Continue reading “How many steps does it take to become an entrepreneur?”
In 2014 a massage therapist planted the seed for an idea that would grow into a retail beauty salon chain. Ian Fuhr, the founder of Sorbet, didn’t want to retire and was eager for a new challenge. Today Sorbet has close to 40 outlets with revenues of around R100 million a year.
People need to come up with new ideas to respond to challenges, problems and difficulties they are facing. They also may want to stretch themselves and come up with new ways to realise their aspirations. But they just can’t make a personal breakthrough. They rack their brains but still nothing comes. Continue reading “Thinking fast and slow – speed thinking for great ideas”
It can be lonely operating a one-person business. Where do you go for business advice, especially when you are faced with difficult problems and challenges in your business? Who can you trust?
One entrepreneur who runs a retail homewear store and online shop has been able to overcome the depths of loneliness that solopreneurs feel. She shares retail space with three other business owners. They are able to split the rent and have a roster so that owners can take a break. This arrangement also gives the solopreneurs an opportunity to work on their business rather than in their business. Continue reading “Where do solopreneurs go to for advice when faced with challenges?”
We went to visit a fashion designer in Salt River, Cape Town, because of my daughter’s interest in fashion. It was two days before New Year and the fashion designer was working flat out at 3 PM. She showed us some of her many patterns, we watched one of her staff cutting cloth from a pattern and were told how she farmed out the garment construction to a sub supplier. She preferred to outsource this part of her garment construction because it is a specialist field in itself and requires a different overhead to where this fashion designer is presently located. But one thing stood out. Continue reading “Hard work comes easier when your work is your passion”
A few weeks ago I was walking through a mall in a coastal town and noticed a retail shop that was converted into a play room for children. Inside the playroom were several children sitting at tables playing games, making things and enjoying themselves.
Some mothers can have an awful time of it shopping when the children are nagging and even screaming for attention. This is a problem for mothers. I have not seen local entrepreneurs come up with such a playroom but have heard of an entrepreneur who has developed several for mothers in Malaysia. Their children play mainly with Lego which he sources cheaply from an Asian country. Now an entrepreneur locally has woken up to the problem that mothers face while shopping and has developed a playroom for kids where they can enjoy themselves while their mothers shop peacefully.
An author of a little book on advice for entrepreneurs claims that employees are problem solvers while entrepreneurs are solution finders. But is it really fair to say employees are problem solvers rather than the solution finders? The thing is that when people write books like these they tried to simplify everything and often these statements are not accurate or based on fact. As much as entrepreneurs can be solution finders, employees need not only be problem solvers but can also look for solutions that benefit business entrepreneur really.
Just in recent months I have come across entrepreneurs who have found solutions for green gardening and landscaping, energy efficiency in the home, an ointment for bluebottle and insect stings from the humble pawpaw fruit and a woman entrepreneur who came up with specially designed swimwear that doesn’t fall off when women are surfing.
What problems save you come across recently in your daily personal or business life or that of others that you can turn into solutions other people would be willing to pay for? There are so many problems that consumers and customers have that it pays to look and listen. What about health and safety issues in small businesses? What are entrepreneurs doing to protect their staff from harm? As you probably know, many accidents don’t always happen in an industrial workshop or factory but occur at home. Slips, trips and falls are common accidents at home where many entrepreneurs now set up the home businesses. How can they better protect themselves?
Problems with poor quality products seem to have grown exponentially. Do you have any solutions for helping to improve the quality of products or come up with a better quality product? It was sad to see how many presents under the Christmas tree this year – sourced from Asian countries – were damaged or fell apart. What can we do about better quality products? Do we have to accept such cheap junk?
Poor quality service is now so prevalent if you stand out with excellent service you will be far ahead of other businesses. Small businesses have a huge edge for better quality service. The cost of eating out needs better solutions as the price of meals rises out of reach of many people. The high cost of electricity is begging for domestic energy efficiency solutions.
If you are looking for a solution to turn your promising business idea into a source of income, you may want to consider “Breakthrough Ideas”. It’s essentially a solution finder. It helps you find a solution that you can turn into a product or service to form a small enterprise, something of your own from scratch. You have an opportunity to secure this resource with a special incentive before the general public… So don’t miss out! Don’t let your dream pass you by. Secure your copy now by putting your name down on the waiting list.
Two strategy consultants Al Reis and Jack Trout tell an interesting story about how the reluctance to face change held them back for 20 years. They knew that they would be more successful if they followed a new strategic direction but they didn’t have the courage to get off their agency horse.
Some people see other people doing business and say to themselves “I can do that”. It may work for a handful of people but to grow a business beyond a certain scale takes more than just the desire.
The consequences can be disastrous. I’m reminded of Catherine Tate, the “I can do that” woman. If you’ve seen any of her television skits, you will know that when she says “I can do that” and tries to do whatever she sees, it turns out into hilarious disaster. It’s fun to buckle over with her slapstick brand of humour and irreverence but in the real world of small business you will end up choking on your laughter. Continue reading “Can you really do this?”
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