Tag: small business

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“I hear you knocking, but you can’t come in”

Michael Bradshaw ready to paddle out into the waves at Longbeach, Kommetjie. (Copyright © 2015 by Chesney Bradshaw, all rights reserved)
Michael Bradshaw ready to paddle out into the waves at Longbeach, Kommetjie. (Copyright © 2015 by Chesney Bradshaw, all rights reserved)

I was talking to a small business owner some weeks ago when out of the blue he mentioned a subject that he believes strongly about. He said he didn’t admire the celebrity entrepreneurs who will only hire people who already have all the qualifications and skills. But he said he did admire one celebrity entrepreneur who is prepared to take on someone who doesn’t have the qualifications and skills and develop them in his or her business.

What is your approach to hiring new staff? What qualities and experience do you look for? Are you prepared to take on someone who has potential but doesn’t yet have the necessary qualifications, skills and experience? Continue reading ““I hear you knocking, but you can’t come in””

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Do you know the size and potential of the market for your small business offering?

English: Fried mojarra fish served with nopale...
English: Fried mojarra fish served with nopales beans etc served at a restaurant in Janitizio Island, Michocan (Photo credit: Wikipedia)

A new takeaway restaurant has opened in the same premises where two similar restaurants failed. The product, which is essentially fast-food fish, chicken and Shawarmas, looks like it is good quality but the prices are at a premium. In fact, when I recently went to this fast-food restaurant to sample the food the prices were so high that I walked out of the store and went somewhere else where I could get better value for money. Continue reading “Do you know the size and potential of the market for your small business offering?”

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Who’ll help you with your small business when you need it most?

Big Business (1929 film)
Big Business (1929 film) (Photo credit: Wikipedia)

When you are just starting out from scratch it seems that the only helping hand you will get is the one hanging from your arm. This is the time when you need assistance most – to help you get off the ground, to show you the way, to receive mentorship, practical, hands-on experience in the particular field that you want to enter.

But in this very early stage of development the mentors and champions of entrepreneurs, the big names with the big advice won’t touch your business with a barge pole. Mr Big is only looking for entrepreneurs who have already been in their business full-time for more than a year and are turning over more than R250,000 a year.

Why is that? Is it because they want to see that your business has some traction? Is this magical number the point that you reach when things in your business are going to take off? Continue reading “Who’ll help you with your small business when you need it most?”

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What happens when the sharks spot your new business idea?

English: Great white shark at Isla Guadalupe, ...
 (Photo credit: Wikipedia)

The shark spotters have spotted sharks in False Bay with the authorities confirming that they had spotted a shark near Fish Hoek beach. One of the shark spotters says when you see a lot of bird activity, seals or dolphins in the area this means there are fish about that attract the sharks.

The small beach of Fish Hoek has been struggling over the past few years because of the number of sharks that regularly enter the bay. Media coverage of shark attacks, which have occurred between Clovelly and Jagger’s Walk along Fish Hoek beach, has been prominent. The number of shark sightings and shark attacks led to the Western Cape authorities to introduce a shark net for the first time at Fish Hoek beach. Only time will tell whether these measures are effective. Continue reading “What happens when the sharks spot your new business idea?”

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Do you need a business plan for your promising business idea?

IMG_3497A man and a woman started a small side-walk eatery in a rural town. On the surface of things it seems that such an informal business would not require any real planning. Basically, the business comprises selling cooked boerewors (farmer’s sausage) and a curry mince in a vetkoek (fat cake). The business is located outside a butchery where the owners can get a ready supply of fresh meat. The butchery benefits from potential customers being able to taste their product just outside of the butchery door. Continue reading “Do you need a business plan for your promising business idea?”

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How to cut a path through stormy waters

Love & Negotiation
Love & Negotiation (Photo credit: Wikipedia)

When you start something new, an idea for a new product or service, a special project or a small business, it can be difficult to chart a steady course through troubled waters.

I have been trying to get a project off the ground which is taking longer than expected. These days you have more options than in the past to go about successfully launching your project and often there is conflicting advice. I can’t count how many times different people have given me their best advice but while it may be ideal for them, it doesn’t fit with my circumstances. Continue reading “How to cut a path through stormy waters”

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Would you treat your key asset in your small business this way?

English: Artist by Langdale Beck An artist bus...
English: Artist by Langdale Beck An artist busy at his easel is oblivious of the rain on this miserable day. (Photo credit: Wikipedia)

I was talking to a business woman who worked for an art studio but left because she was treated like dirt. This business woman provided the core competence for a small business which made the business flourish. She worked tremendously hard, gave of her expertise and talents freely and attracted many new customers. But the owner of the business treated her badly, maybe threatened or ungrateful for her level of expertise.

The situation between the small business owner and the key employee eventually came to an end. It’s not surprising because of the way that she was treated. It’s unlikely that the studio will find someone with such competence and at the rate that she was receiving fast enough to rescue the existing business. It’s difficult to predict what will happen next but one scenario is that over time the art studio will close its doors. Continue reading “Would you treat your key asset in your small business this way?”

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A secret about pricing strategy learnt from a busker

English: Busker in Arles, France
English: Busker in Arles, France (Photo credit: Wikipedia)

The other day I saw a busker next to the parking pay station playing on his guitar and singing a popular song. In front of him was his black canvas guitar case and on top were several R2 coins. After I had paid for my parking, I gave the musician R2. As I did this I remembered what a musician had told me while she had busked her way through Ireland. I suggested to the musician that he place a R10 note or two on top of his guitar canvas carrier. He smiled and said he would try it out.

I don’t know whether the busker tried the approach or not but I do know that pricing products and services is based on perceptions. You see if you price too low people don’t place a high value on your product or service. If the busker put out R10 notes, passers-by would notice that the musician placed a high value on his service. Continue reading “A secret about pricing strategy learnt from a busker”

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Start-up risks that could spell game over for your new enterprise

English: Hydrangea macrophylla - Hortensia hyd...
English: Hydrangea macrophylla – Hortensia hydrangea, picture from Longwood Gardens (Photo credit: Wikipedia)

One late evening recently I was at a garden nursery and was taken around the place by two of the managers. We went down to goods receiving where a supplier had brought in a load of hydrangeas late in the afternoon after closing time. The managers who are also horticulturists took one look at the hundred or so crates of hydrangeas and unfortunately had to reject them because of the quality. To me the hydrangeas looked pretty and appealing but to the expert eye there were major flaws. The grower of these hydrangeas had grown them too close together which meant that they grew trying to reach for sunlight, which lengthened the stems. The result of this was that the hydrangeas had long stems and either drooped or fell down. Not every nursery has such strict quality control and most nurseries with lower quality standards would have accepted them. But how can you claim to be a tip-top garden nursery if you display hydrangeas like these on your nursery floor? Continue reading “Start-up risks that could spell game over for your new enterprise”

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Why come up with a new business idea and face the high risk of failure?

A medical student checking blood pressure usin...
A medical student checking blood pressure using a sphygmomanometer and stethoscope. (Photo credit: Wikipedia)

Two John Hopkins medical students came up with an idea for a business and with the help of an accelerator program have launched a company that provides security for electronic health records. The two medical students have developed a tool that protects the hospital’s electronic health record system. Instead of the traditional approach that focuses on protecting the perimeter, the tool focuses on building an immune system. The company now plans to employee between four and 10 people and is looking for data scientists, engineers and technical experts to help fine-tune its software program so it can be used for hospitals and health systems of different sizes.

This is an example of two medical students who went beyond their medical studies and came up with an idea that can potentially provide great rewards for them. Why would they go above and beyond their medical studies to become medical doctors and take on the risks involved in starting a new business from scratch? Why would they put their reputations on the line with the possibility of failure which comes with the territory in forming start-up enterprises? Continue reading “Why come up with a new business idea and face the high risk of failure?”