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All posts tagged "business"

  • Pimping the wheel: an anthropologist’s view of entrepreneurship in SA

    South Africa is as wrapped up in the myth of the rock star entrepreneur as the rest of the world. But what kind of entrepreneurs are we developing, and why? This is the question that Melissa Beresford, an anthropologist PhD student from Arizona State University, has set out to answer. She has spent the last 11 months in SA doing research for her thesis, focusing on the cultural models of entrepreneurship across low-resource and high-resource environments in the country. This topic wasn't her original plan. Beresford had spent the last two years working on doing her PhD on the model of collective action in the...

  • 3 online strategies to make your business more appealing to customers

    Years ago, businesses grew by word of mouth or they were attractive because they were the only business in town. Today’s competitive era means you need to try alternative routes to build your company’s name recognition. Although the market is flooded with lots of new businesses, yours has the ability to stand out and be successful if you’re willing to market it in a way that’s truly appealing to consumers.   Are you looking to grow your revenue by attracting new customers? Whether you’re a new business or an established business, marketing your business to online consumers is a great...

  • How to keep the excitement going in your startup

    Whenever a company embarks on a process to create a culture that delights customers and creates loyalty, we usually recognise four very distinct phases in the process: First there is awareness, where people at all levels realise that change is important and imminent. Managers usually start reading up and enquiring about what to do next Then there is the evangelical phase, with bands and balloons and a lot of “Rah! Rah!” It is usually during this phase that the company carries out lots and lots of activities, including a launch event and training for everybody. Many systems and processes are established,...

  • 10 unpredicted things every business plan needs

    The biggest question for businesses is whether its business plan is doing all it can to handle unforeseen problems. Some businesses may be bold enough to argue that there is no such thing as a plan for handling unexpected events. However, there will be some who go by the book by planning ahead and picking a right business plan template, create a holistic step by step strategy and then hire a team that can execute the plan. During the whole planning process, a lot of things can go wrong, this publication seeks to rectify such thoughts by providing you with ten...

  • 3 vital truths about running a business you should know about

    Management textbooks and the business press are full of advice about creating entrepreneurial business models, shaking up markets, and offering game-changing customer experiences. As exciting as those opportunities are, there are some important and less glamorous truths about building a business that every entrepreneur should know from the outset. All too many of us learn them only through hard experience. 1. You will have a business plan, and life will have other plans It is sensible to start out with a business plan that charts the expected course of your company for the first two or five years of its existence. Banks,...

  • 5 crucial reasons startups tend to mismanage their finances

    Financial Management is one of the main reasons many startups fail. And, sadly in many cases this is caused by the entrepreneur themselves, making them the biggest enemy to their own businesses. Financial mismanagement is mostly as a result of all or some of the following reasons: 1. Lack of financial education and aptitude Lack of financial education may cause entrepreneurs to live from hand to mouth i.e. cash is accounted for and is spent as it comes into the business. Financial education allows the entrepreneur to know in advance how the business is doing financially and to be able to take...

  • How an invoice facelift can boost your startup’s productivity, customer service

    Many entrepreneurs and small business owners fail to recognise this central fact: invoices represent a crucial second opportunity to make a positive impression on the customer. I say second opportunity because your first opportunity resulted in the sale of your product or service. In this sense, your company’s invoice is actually an opportunity to reinforce this relationship between your company and your client rather than damage or ignore it. Additionally, the invoicing process holds significant potential to enhance your enterprise’s efficiency in several ways, not the least of which is improved cash flow. Let me explain. The importance of having an invoice...

  • 3 ways to improve teamwork in your business

    You can never do anything worthwhile alone without the help of your team. In order to thrive, a business needs team collaboration at its highest levels. This is why we need to build great teams at work. But what does it take to build a better team? Is team building an art or a science? Ask that to any management guru or business leader, the answer would be almost similar. It is a bit of both. Assembling different team members, motivating them and keeping your team members happy is easier said than done. Although you cannot overstate the importance of...

  • How to choose the right tech to boost your small business

    As a small business owner, you have plenty of choice when it comes to affordable technology that helps you run an efficient, responsive and productive company. Accounting and payroll software takes the pain out of dealing with SARS and other authorities, while making it easy to keep accurate financial records. Mobile broadband and smartphones mean that you can access business information while you’re on the road and stay in touch with colleagues and customers wherever you are. And the web has opened access to a global marketplace of customers and suppliers for even the smallest of SMEs. Read more: 16 growth...

  • How to make the most of startup life (even if your manager sucks)

    Managers. We all have to deal with some version of them. Even the companies claiming they have a flat organisation structure. There’s always someone you report to. There’s always someone who, if you’re lucky, you look up to. And if you’re not, well, that’s an entirely different story altogether. I didn’t always work at a startup. My first job was at a big corporation and the development team at my location consisted of 100 odd people, divided into teams that reported to a team lead (TL) and TL's that reported to a project lead (PL) and PLs that reported to...