Tag: small business

Posted on

How do you keep a business running for 110 years?

Cecil Rabinowitz of Awerbuchs Wholesaler Clothing, one of Bloemfontein’s oldest shops, established during the Anglo-Boer War in 1900.
Cecil Rabinowitz of Awerbuchs Wholesaler Clothing, one of Bloemfontein’s oldest shops, established during the Anglo-Boer War in 1900.

I was curious to find out how a business has been running for 110 years in a small South African city. So on a recent weekend I went to visit Awerbuchs, a clothing retailer, in Fichardt Street located in downtown Bloemfontein. The store is not situated in its original location but has been operating from its present premises for many decades. Fashions have come and gone and the downtown city area has even become gentrified but the store still has a large following.

Customers include the business person who wants a tailored suit to farmers who want durable workwear and parents who want clothing for their school going children. The store is located on big premises with long aisles of trousers, casual shirts, formal shirts, accessories as well as linen. Upstairs, at the back of the store is a large footwear section. Down below is a large tailoring room. Continue reading “How do you keep a business running for 110 years?”

Posted on

10 reasons why you should start a new product, service or small business (and why the recession could be the best time to begin)

Tasty Food Abundance in Healthy Europe
 (Photo credit: epSos.de)

Why is it that we wait until the worst possible moment to act on important things in our lives?

We plan our annual holiday so late that all the best places are fully booked. We may have left our retirement planning for late in life only to find out that we should have started years ago. We always wanted to start a business of our own but we did nothing about it and now we are unemployed or too old to have the energy to make a go of things.

Here are some reasons why you should start a new product, service or small business: Continue reading “10 reasons why you should start a new product, service or small business (and why the recession could be the best time to begin)”

Posted on

Have you figured out your life’s purpose?

Creativity
Creativity (Photo credit: Mediocre2010)

A few years ago I had reached a point where I was deeply unhappy where I was going in life. We all know that we are not here for long and I decided once and for all to figure out exactly what I wanted to do with the rest of my life.

I started a 12-module creativity programme to explore my past experiences, what was important to me and what I wanted to do. For one of the first times in my life I carried out every suggestion or prompt in the course, missing out nothing. Continue reading “Have you figured out your life’s purpose?”

Posted on

How to imitate (legally) a successful product or idea

Stainless steel sculpture Begynnelse (Beginnin...
Stainless steel sculpture Begynnelse (Beginning) in Eslöv, Sweden, by Alexius Huber (Photo credit: Wikipedia)

Imitation is stigmatised, derided and virtually blasphemous in society and business. But why are more businesses doing it rather than pioneering or innovating completely new products and services?

Simple really. Imitators can come into the market with less research and development spend, avoid the pitfalls of the innovator, produce at a lower cost, reduce risk and quickly capture market share in the wake of the trailblazer who can’t cover all bases. Continue reading “How to imitate (legally) a successful product or idea”

Posted on

Would you listen to small business advice from these tee vee xspurts?

English: Johannesburg from the top of the Carl...
Johannesburg from the top of the Carlton Centre. (Photo credit: Wikipedia)

I’m probably going to get rapped on the knuckles but I’m going to say it anyway: beware of the advice that “thought leaders” dish out to small business owners on reality tee vee shows.

The advice sounds so sensible on the show but when you realise that each and every business is different, you can take it at face value – superficial generalities.

Modify your offering to suit customer needs, look for gaps in larger business offerings, compete on value for money rather than low price, create partnerships with allied businesses and think strategically about your online strategy – that’s the typical pearls spouted on these tee vee shows.

Pages: 1 2
Posted on

Will all boats rise with signs that the tide could be turning or is it just a drop in the ocean?

The IVS Hunter at the wharf. At 20,000 tons, H...
The IVS Hunter at the wharf. At 20,000 tons, Hunter is Handysize. (Photo credit: Wikipedia)

What an exciting feeling it is to stand on the quayside and watch the gigantic ships in the harbour. The thrill of hearing a ship blow it sworn as it leaves Cape Town docks. Tugs towing a huge container ship into harbour to its moorings.

The raw materials, dry bulk commodities such as iron ore, cement, grain, coal and fertilisers that are shipped on the sea routes around the world give a good indication of the level of global economic activity.

The main sea freight index, the Baltic Dry Index (BDI), tracks freight costs on 23 shipping routes (not just the Baltic Sea countries), covering carriers including Handysize, Supramax, Panamax and Capesize dry bulk (for the ship classifications and sizes see Wikipedia (“Dry Baltic Index”). The index indirectly measures global supply and demand for commodities shipped aboard dry bulk carriers.

Continue reading “Will all boats rise with signs that the tide could be turning or is it just a drop in the ocean?”

Posted on

10 sales tips your competitors wish you didn’t know

Sale
Sale (Photo credit: Gerard Stolk (vers les 66))

Your sales are down for the month or quarter. In this economy they could be at the lowest levels you’ve experienced for years, as some small business owners have recently told me.

You need to make a plan to increase your sales but you may not know where to start. The quickest and easiest way to focus on your sales is to come up with a list of what you can do. Continue reading “10 sales tips your competitors wish you didn’t know”

Posted on

Poor cell phone service providers bad for business

English: Cell phone tower cleverly disguised t...
Is there any connection? (Photo credit: Wikipedia)

This morning my cell phone internet connection went down. I called MTN, a giant network carrier, but could not get hold of anyone despite three calls.

My first call to their 808 number was 3 minutes and forty one seconds with no one answering. The second call I placed lasted 8 minutes and forty one seconds. I could not wait any longer because I had to attend a meeting. I made a third call but was cut off by the company. I therefore had to spend about 13 minutes on hold without anyone answering. Eventually after five hours the connection came back … without a word from MTN. Continue reading “Poor cell phone service providers bad for business”

Posted on

Must-have idea evaluation tool locked away safely in vault

softwareboxrightHow do you know if your new business idea is viable and has value to you and your prospective customers?

Entrepreneurs come to me with their business ideas which they think are brilliant and it seems that they want confirmation or assurance that their idea will fly in the marketplace. Unfortunately, this is what I can’t do. I am not able to evaluate the merits of a new business idea off the cuff.

A new business idea has to jump through a number of hoops before one can safely say that it is viable and that it will be profitable. Even in instances where the idea looks promising, there is no guarantee that it will be. No one can predict whether a business idea will succeed because the marketplace is just too dynamic and ever-changing. Continue reading “Must-have idea evaluation tool locked away safely in vault”

Posted on

Are you staying opportunity focused in this economy?

Money_Man
Credit: Creative Commons

In this economy every source of income counts. But where do you begin to discover hidden or new sources of income?

You may wonder about the term “multiple streams of income”. What is it? A buzzword from some self-help business guru that helps him or her sell their books and other products. It’s really a term to entice people into believing that it so easy to make money that you merely need to turn open a tap and money will pour into your banking account. This does not happen in the real world. You need to work long and hard for any sort of income.

In every business or new venture knowing where additional sources of income will come from is important. The simplest example is a product business that adds after-market service to their offering. This provides two sources of income: product sales and service. Continue reading “Are you staying opportunity focused in this economy?”