I met an entrepreneur the other day who lost everything in his small business. At one time the small business was highly successful. He took a back seat, moved to a another town and went into semi–retirement. Disaster struck. His manager who he’d trusted to run the business stole everything out of the business until there was nothing left. Continue reading “Comebacks in small businesses can be a hard and long path”
Entrepreneur was forced to learn this lesson the hard way
An entrepreneur mentioned the other day how her first business venture at the age of 24 hit the rocks because she had brought the wrong people on board into the business. These were people that she trusted but they turned out to be crooked. It’s a business lesson she had to learn the hard way.
Why is it so that we first have to learn business lessons by getting our heads smashed before we can move on? Perhaps it’s because we are naïvely trusting of other people. Look what nearly happened to Little Red Riding Good when she put her trust in a stranger. She nearly got eaten up alive. Although mistrust of other people iss bred into us at an early age we often have to learn the lesson for ourselves before we pass through the first gate of learning entrepreneurial ropes. Continue reading “Entrepreneur was forced to learn this lesson the hard way”
Who do you trust when it comes to small business advice?
Not too long ago financial advisers were unregulated but because standards were lacking in the industry they eventually had to write financial adviser exams and be registered. Too many customers were advised on investments that were not in their best interests. In these times with the increase in the number of small businesses and entrepreneurial ventures, the number of small business advisers has grown. Continue reading “Who do you trust when it comes to small business advice?”
How can small online retailers build trust?
I wanted to buy a product online recently, found a local online retailer who had the product available at a reasonable price but didn’t place in order because the small business did not create a feeling of trust and credibility.
What put me off and changed my mind was that there was no physical address. This for me is a big red flag because you don’t know where the people behind the online retail store are operating. They could be plying their trade in a dingy basement or broken down house in a residential suburb, running some kind of boiler room operation. I think I’ve seen too many horror stories on television and film. Continue reading “How can small online retailers build trust?”
How far would you go in trusting others with your new business idea?
A security guard came to the manager of a certain business one morning and told him that the business person who shared premises had loaded up the back of his car with stock. On approaching the business owner who shared the premises, he claimed that he was in a rush and had left the money with the staff so that they could pay the other business owner when he opened his doors.
People make all sorts of excuses when they are caught red handed. But this story really goes to show how some people will behave given any sort of chance. One would expect that a business owner who shared premises with another business would safeguard the interests of both businesses but it didn’t turn out in this case. Action was not taken with the business owner who was caught red handed but increased security measures have been put in place so that this person will not do it again. The question mark that hangs over this incident is how much other stock has this business owner taken over the years?
Trust is not something to be taken lightly. Without it, it’s difficult to do business of any kind. Yet it easy for another to justify the actions with all sorts of excuses if they cross the thin red line of ethical behaviour. Continue reading “How far would you go in trusting others with your new business idea?”
Where do you find a trusted adviser?
I worked for a food manufacturer one time. For me this was almost a dream job because I love food and come from a family who loved food. But one day my boss called me into his office to give me bad news. He would be retrenched and so would about 100 others from various companies functions. I was included in that number.
Suddenly I was in shock. My world was upside down. Let’s face it, most people rely on a salary to support themselves and their family. In a few days that would be gone. I had two children under five to support.
It was with a deep sense of betrayal that I tried to cope emotionally. In a few moments the world I had known was gone. The future I had seen had disappeared. I felt utterly and totally alone. Continue reading “Where do you find a trusted adviser?”
Keeping tight-lipped about product flaws is fatal for trust
It happened so long ago that I almost forgot about it: how I bought a surfboard from a shop in Muizenberg when I first started surfing and the board was so brittle that it cracked even with the slightest pressure or bump.
In those days, not unlike what still happens in all sorts of products and services, the owner of the surf shop didn’t say a word about the poor quality of manufacture of his product. I can remember how many times I’d have to buy resin, catalyst and fibreglass strips to fix the many “dings” in my surfboard. Continue reading “Keeping tight-lipped about product flaws is fatal for trust”
If you don’t have this one thing, sustainability is very difficult
A small business owner, or a start-up founder, visits a green fields manufacturing site and is forced to worry that her car parked nearby will be stolen.
A small business owner drives to work in fear of being hijacked.
A kitchen-table entrepreneur is too frightened to let her daughter walk to school down the road because what might happen. Continue reading “If you don’t have this one thing, sustainability is very difficult”
Now new business ideas and tips weekly
I’ve suddenly realised that I haven’t let you know that www.ideaaccelerator.co.za has gone weekly.
We’ve got so much to talk about and share.
Like new business ideas, tools and tips on how to solve business problems.
The first quarter of this year is nearly over and we’ve covered: Continue reading “Now new business ideas and tips weekly”
Four things you absolutely must know when buying online
Who can you trust when buying products or services online?
Sorry to sound cynical but there’s a reason:
As a buyer or consumer these days even off-line you have to be ultra careful. For example, take your credit card or ATM card. You have to watch out that no one sees your three-digit number at the back of your credit card or your pin code. In the wrong hands, you can lose a lot of money. So many people get caught. Continue reading “Four things you absolutely must know when buying online”
