Are you making your advertising work harder for your small business?

English: Picture of an authentic Neapolitan Pi...
(Photo credit: Wikipedia)

How do you make your advertising works harder for your small business without pushing so hard that you get accused of making claims that can’t be substantiated?

A report in a local newspaper asserted that the Advertising Standards Authority of South Africa received more than 1,700 complaints from consumers and competitors in the past year. Something like 42% of advertisers had contravened the Code of Advertising Practice by communicating misleading claims. A further 21% of advertisers could not substantiate their claims. In one of the cases cellular networks challenged advertising claims. One claimed that it was the “fastest network for smart phones” and won the case. But this same cellular network was unable to prove that it has the “best and widest 3G/3G network in the country”. Continue reading “Are you making your advertising work harder for your small business?”

Better to start developing your new business idea soon as possible than wait for the perfect thing

Food
Food (Photo credits: PB Teen)

The glossy business magazines will feature entrepreneurs who got their promising business ideas up and running in six months. These are the exceptions or what researchers call outliers. It leads you to believe that starting something from scratch can be done in record time and that instant success is forthcoming. What about all the other would-be entrepreneurs who take far longer to come up with a new business idea and even longer to get it off the ground?

The reality is that starting something from scratch, something of your own, something from a promising business idea, takes three times the duration to get it off the ground and will probably cost twice as much as the business gurus would leaf you to believe. It’s far better to have a realistic sense of what to expect when trying to develop something of your own than live in cloud cuckoo land expecting overnight success. One Internet business, for example, took 10 years before it became commercially viable, gaining enough traction to start getting noticed by Internet users. Continue reading “Better to start developing your new business idea soon as possible than wait for the perfect thing”

Can you find opportunities in zombie business ideas?

Zombie Influx
Zombie Influx (Photo credit: Wikipedia)

Some time ago there was a flurry of interest in BlackBerry because the rumour was that Samsung would buy it out. These rumours were squashed promptly. But the whole saga tended to make one think about slow-moving zombie technologies that refuse to die.

Despite the changes in technology, older technologies such as teletype still exist although in some smaller applications such as secure electronic messaging services in Europe. Why is this? Because it’s possible to deliver messages securely to a recipient without knowing their email address or phone number. Continue reading “Can you find opportunities in zombie business ideas?”

How do you reduce the downside risk in starting a dream business?

English: Sir Richard Branson at the eTalk Fest...
English: Richard Branson at the eTalk Festival Party, during the Toronto International Film Festival. (Photo credit: Wikipedia)

An entrepreneur started a gourmet fast food business on a main street in a coastal village but within two years she closed down. Another entrepreneur opened a gift and stationery shop also on a high-pedestrian traffic street and within three years it closed. A young entrepreneur created and online fitness supplement venture which did well for about two years after which the business caved in.

Is there a sure-fire way to reduce the risk of failure in starting your dream business from scratch?

Even Richard Branson, famous for the Virgin Group of companies, began his entrepreneurial journey with a couple of early ventures with failed ones including growing Christmas trees and raising pet parakeets. But Branson went on to sell music records via mail order, bought a nightclub in London, sold vodka and eventually built a business spanning music, media, telecoms, airlines and space exploration. Continue reading “How do you reduce the downside risk in starting a dream business?”

Incidents like this can hurt your people and small business big-time

The flame test for sodium displays a brilliant...
(Photo credit: Wikipedia)

I was sitting in a small restaurant when I heard screams coming from the car park below. Black clouds of smoke started rising past the window. Not knowing what had happened on the street below, I picked grabbed my belongings, got up and walked out of the restaurant towards the top side car park.

When I found out what it happened, I went back to the restaurant, paid my bill and afterwards drove around to see the site of the accident. When I got there the two business people who work in the small sit-down and take-away restaurant were seated in chairs with severe burn marks on their legs. A gas fire had spread rapidly in the shop and they were closest to the source of the gas and suffered damage to their bodies. Fortunately, the shop owner above this restaurant knew first aid and was attending to these business people with burn gel while contacting the paramedics and ambulance service. This small sit-down and take-away restaurant business was trading only for over a year. Who knows when it will open again? Continue reading “Incidents like this can hurt your people and small business big-time”

Obsessed by success secrets but ignoring common sense

Sara BlakelySara Blakely, an entrepreneur, was listed as a billionaire on a rich list. She took her product Spanx, body shaping undergarments for women, from a start-up to a multi-million-dollar company.

A fire storm of articles and TV shows dug into her background to find her secret of success. This is what the media do best – simplifying a story to one or two things that are easy to communicate. This results in giving the wrong impression to would-be entrepreneurs and start-up founders. It looks so authoritative in print or on TV but actually only sells a half-truth. Continue reading “Obsessed by success secrets but ignoring common sense”

Failure to do this can see your business disappear in 30 seconds

English: Burned shop in the town of Dourdan, F...
(Photo credit: Wikipedia)

A gas leak in a new format takeaway and restaurant business took not more than 30 seconds to shut the business down. Perhaps for good. Who knows whether the entrepreneur who started this vegetarian eatery will be able to restart the business after his physical and emotional scars.

The small business start-up began apart a year ago. The food was delicious because the entrepreneur and owner had worked both in this country and Australia honing his culinary skills in vegetarian cooking. The business was thriving until the gas fire snuffed it out in a matter of seconds. Continue reading “Failure to do this can see your business disappear in 30 seconds”

Small business in tatters because of bad advice

Creole seafood gumbo. French Market Restaurant...
Creole seafood gumbo. French Market Restaurant & Bar 1001 Decatur Street New Orleans, Louisiana (Photo credit: Wikipedia)

A restaurant owner running a Cajun style restaurant went from 200 patrons and night to a single table at best because he listened to a so-called celebrity TV business adviser.

The restaurant was running for about six years when the owner agreed to go on a restaurant makeover show. The TV celebrity business adviser overruled the menu and the decor which nearly wrecked his business. From authentic Creole dishes like seafood gumbo and jambalaya, the celebrity chef chopped the menu down to 20 bland items such as cheeseburgers, Hush Puppies and fried chicken. The colourful interior design was changed to muted beiges and greys and uncomfortable church pew benches were installed. A disgruntled customer said the new furnishings and menu had turned a fun restaurant into a funeral parlour. Continue reading “Small business in tatters because of bad advice”

Look for the idea right in front of you

A pile of Lego blocks, of assorted colours and...
A pile of Lego blocks, of assorted colours and sizes. (Photo credit: Wikipedia)

An entrepreneur who has started several businesses including a legal services firm, guided imagery business, online platforms and apps says sometimes the best ideas can be right in front of you.

This entrepreneur discovered that parents were taking their children to the shops and shopping centres but they had problems. The children could get lost, they were difficult to manage and they wanted their parents to buy them Lego. So the entrepreneur could see that there was a need for a service to look after the children while their parents were shopping. Continue reading “Look for the idea right in front of you”

How much money have you lost delaying a decision?

(Copyright © 2015 by Chesney Bradshaw, all rights reserved)
(Copyright © 2015 by Chesney Bradshaw, all rights reserved)

One time when making the decision to start a new business I decided much quicker than when things went awry and I had to decide to shut it down. In the beginning you are pumped up with enthusiasm. You feel unstoppable. But when things don’t work out and you know you have to decide to close your start-up it can take long to make up your mind.

How quick are you to make decisions that are critical to your business? Continue reading “How much money have you lost delaying a decision?”