Re-Seller Opportunities

In some countries (USA for one), you need to ensure you have the necessary permits:a Re-seller's Licence or Permit. I can't find anything like that in South Africa nor have I ever heard of it, if anyone has please let me know! The reason is that the VAT portion is removed for parts of the transaction. That isn't really applicable in this case since the VAT registration threshold in South Africa is R1million of taxable supplies per annum (2012). Beautiful Bracelets will be thrilled when it reaches that level!

I had been looking at other ways to sell Beautiful Bracelets, which included Re-Sellers, when people started approaching me directly to Re-sell Beautiful Bracelets, even from overseas! (Australia). The ones I am most excited about are the students, who at the moment in South Africa have their summer break of 2-3 months over December/January. Today I met one of them, who had listened to the entire Money Show Challenge and had been inspired by it to create her own small business on the side whilst she continues to complete the final year of her IT degree next year. I find this very exciting, because this is really the best way to solve the unemployment situation in South Africa in my view: Students need to be thinking about business already whilst working on their studies.. The long vacations are the perfection opportunity to practice starting a small business, and if you or someone you know is in that scenario, why not use the model given in the Radio 702 Challenge, and make a decision to work as hard as you can and see if you can make a go of it? The worst case scenario is you used R1000 and got no return. Or R50. Or, you could generate a profit of R3,750 or R4,850 or R12,000 or, like the incredible Pavlo Phitidis maybe you also have a brilliant idea and with a whole lot of hard work can multiply it into nearly R70,000 in just 6 weeks! 

It was truly gratifying today to be told by this Student that she had been inspired by the R1000 Money Show Challenge to do it herself which is why she contacted me to start her own small business, using her social networks to sell Beautiful Bracelets!

Inspiration from Others

I really enjoy hearing from people who get in touch with me and tell me they heard the Radio 702/ Cape Talk R1000 Money Show Challenge, some of whom were avid listeners, they didn't miss a single show that focused on the Challenge. Earlier this week I received an unexpected call from a couple whom I knew very well but hadn't spoken to for a number of years, they now have an olive farm in a remote spot in the Cape, so remote it doesn't even have cellphone reception, but the farmer listens daily to the Money Show..! A fascinating re-connection.

And then last night, someone who'd been listening to every broadcast of the Money Show especially the section focusing on the R1000 Challenge, introduced himself at the Midrand Moonlight Christmas Market and bought a Beautiful Bracelet for his wife! I find these moments very encouraging, it seems that many people were inspired by the R1000 Money Show Challenge.. and are all amazed at Pavlo Phitidis.

Bought my wife a Beautiful Bracelet from @1000bracelets. Contact Val and get yours. Thanks Val, lovely meeting you. twitter.com/drivability/st…
— Graeme McCormack (@drivability) December 1, 2012

Week 7 Reportback!

Today was a good day, I had more customers coming back to buy even more Beautiful Bracelets as Christmas Gifts, and much of this business was repeat business. Which is gratifying. And I received a phone call from a customer in Cape Town who was ecstatic, having received her Beautiful Bracelets order. So far the feedback from all customers who buy online has been great. The best customer is a happy customer who buys again!

I am toying with the idea of continuing with a weekly summary and feedback report as I did in the first 6 weeks. Perhaps continuing to Week 10. But Week 7 has been the busiest yet, I have been literally "run off my feet" with the Beautiful Bracelets Business. Just when I thought, great, the challenge is over, now I can rest a few days and put my feet up. Not so. The orders in the first 3 days after the Grande Finale exceeded the first 3 weeks of the Money Show Challenge, it has been quite something to keep up! Especially as all the profits are in the hands of Starfish, one would usually re-invest profits especially in a Startup situation. Since I want to keep this R1000 as close to the original idea as possible and just see how far it can go within 6 months, I will invest R4850 of my own money into the business to put it back to a "real life" scenario.

From now on, Beautiful Bracelets needs to secure its own Markets (flea markets) and it turns out, places like  Irene Market apparently have a waiting list of 2 years! Which is why it was wonderful to have the support of people like Corlia who has an existing Antique Jewellery Section and broke her own rules to "host" Beautiful Bracelets for the duration of the Money Show Challenge (It is quite a responsibility to take on other people's products due to high theft levels at these Flea Markets: a shocking thought). We have been accepted onto at least one Christmas Market (although it seems some of them prefer to be branded as "Festive" markets). And another to confirm shortly. Then I have so many other avenues to explore, it is time-consuming, but this is the groundwork needed, and it will be covered. My business coach said he wanted me to double employees and profits in the next 6 weeks. That would be great, especially since this is traditionally a good time of year to be selling "gift" items like Beautiful Bracelets! As I go forward, I will let you know where Beautiful Bracelets may be found and what I am doing to boost sales. One new store where you can find Beautiful Bracelets probably within a day or so, is at The Ballet Box in Tygervalley, Cape Town.

Beautiful Pendants

The other great thing is I managed to secure the domain www.beautifulpendants.co.za which will point to Beautiful Bracelets and we will be launching Beautiful Pendants shortly due to popular demand. At the Grande Finale of the Money Show Challenge, Tracey Webster, CEO of the Branson Centre of Entrepreneurship actually said to me (live on air): you should branch out into a wider range of products like necklaces/pendants and earrings. Well, one of the new Beautiful Pendants had already been presented to the Starfish Foundation Charity Art Auction and I have had requests from clients who want to buy matching sets. So Beautiful Pendants will be available soon!

YuppieChef Tips for E-commerce Startups

Since YuppieChef is one of the online businesses whose success and customer service I aspire to emulate, I was amazed and thrilled that on the same night of the Grande Finale of the 6 week R1000 Money Show Challenge, Bruce Whitfield interviewed Andrew Smith, co-founder and Managing Director of YuppieChef:

Bruce Whitfield:Our Big Issue is all about Entrepreneurship and how hard it is to start a business, how tough it is to start a business...So what we’ve asked is this evening that 2 of our Shapeshifters who we’ve spoken to this year on the Money Show, Simon Mantel the owner of Mantelli’s Biscuits and Andrew Smith co-founder and MD of YuppieChef.co.za come on and just join us and tell us some of their trials and tribulations. We’ve had a most remarkable evening here at Prime Media Place, I’ve not been this moved in a long time by the genuine efforts of 5 incredible people who took up our challenge and have delivered way beyond my expectations. I honestly believe that if we gave the Starfish Foundation R5000 at the end of this evening we would have done an incredible job. What we’ve succeeded in doing was giving them R65000 largely due to the miracle efforts of Pavlo Phitidis, but I don’t want to downplay the hard work done by Warren Ingram, done by Tsego Modisane who has had a nightmare 6 weeks, he has tried things, he has had the guts and the spirit and the determination of a Jack Russell terrier, to Paul Theron who has been beaten by the wind and the rain, and then of course to Valerie Pole who has been an exceptional contestant as well. Congratulations to all of them.

Andrew Smith is the MD of YuppieChef He joins us on the line from Cape Town. We’ve heard amazing stories this evening of start up businesses, Andrew, of how difficult it is and of how people have used their networks. When you started YuppieChef and you look back at the history of YuppieChef so far, what are the 3 things that you would have done differently in setting up a website which sells the most extraordinary array of culinary artefacts, and useful things too, online? What are the 3 things you would have changed?

Andrew: Evening, Bruce. You know, I always disappoint people with my answer to this question because I’m very happy with where we are now and if I’d changed much of our path to this point, we’d be in a different place. So I don’t actually have 3 things we could have done differently, but I did think of 3 things that I’m very glad we did do.

Bruce: Then tell me those..

Andrew: Well, first of all I’m very grateful that we started a business that we were passionate about. Getting a business off the ground and where you’re going to spend 10-12 hours a day slogging hard, it really helps to do something that you actually care about doing. I tried to imagine myself in a business that I didn’t enjoy what we sold, didn’t enjoy dealing with the customers, or dealing with the team, and I think that would be an aweful place to be. So that’s my first thing – is it something you’re passionate about?

The second thing I’m very grateful that we did is prioritise the relationship with customers over short term profits. And I think that really serving and being generous to your customers is what makes it a more enjoyable process but it has also reaped the rewards, we see it now. And even in the beginning it can seem like a long investment, if I deal with this customer well, is it going to pay off in the long term. And it has over the years, and I’m very glad that we’ve done that.

And then finally, I’m very glad that we stayed focused. We sell kitchen tools, we sell them online and we sell them in South Africa. And there’ve been along the way all sorts of opportunities to open physical stores or to branch out into other things and just being able to stay focused on that and everyone we meet and everyone we speak to, it’s a very simple thing that we tell them, and that’s helped us, and it’s also helped our positioning in the marketplace.

I think if you look at all 3 of those things, so many choices are about making more money, or sticking to what you’ve decided to do, and really, these things that I think of as our key lessons are about deciding to stick to what your core is and customers will notice and the results come out. And that’s really what your Brand is. It’s not a marketing campaign or a clever slogan. Your Brand is what you decided to stick to at your core.

Bruce: But it’s inasmuch as what you don’t do as what you do do, because, if you do a bunch of stuff you shouldn’t, it’s going to distract you from what you should.

Andrew: That’s right. I think businesses are so much simpler, particularly new businesses are so much simpler than other people make out them to be. If you do what you say you’re going to do in the time you said you’re going to do it, you’ll be successful. And how many of us wanted to have someone come over and quote on some plumbing and they never even arrive, or if they do they never get back to us on the quote? Work out what problem you’re trying to solve, and do it, and the rest just follows.

Bruce: And have you had issues with regulation, have you had issues with that regulatory environment. Internet access has been a big hindrance to the explosion of YuppieChef online.

Andrew: It’s been ok. Everyone would like to have faster internet. Browsing websites is accessible to just about every customer we could have, but what I do wish the Government had done is to fix the Post Office. That would have been great in an E-commerce environment. But I don’t think there is much hope of that. What I really would have been grateful for is a simpler labour law environment. I’m not the first person to say that. You hear everyone saying that from the biggest companies down to the small. On behalf of the smaller entrepreneur, the fear about, if I employ someone, and it doesn’t work out, what if the position is wrong or what if they’re wrong, what happens? And I think there’s a lot of fear and uncertainty and no real places to go get the answers to that. And I think unfortunately it causes a lot of people holding back on employing because they’re worried about what the repercussions might be down the line. And we’ve heard these horror stories about CCMA and all these other things and most people don’t understand what they are but that is something that I wish was different in this country.

Bruce: Andrew Smith, the co-founder and Managing Director of YuppieChef: his experience as an entrepreneur..

You can download the entire Podcast for this MoneyShow here: 

Money Show Podcast 12 Nov 2012

The interview above starts 59 min into the Podcast and is preceded by the Grande Finale of the MoneyShow Challenge.

The Day After... (and selling on Twitter)

Valerie Pole, Tracey Webster, Warren Ingram, Pavlo Phitidis, Belinda te Riele, Bruce Whitfield, Paul Theron and Tsego Modisane

I salute Pavlo Phitidis and his phenomenal coup of a profit of  just over R65,000 in 6 weeks from a start-up of  R1000 and I look forward to the in-depth analysis of how he did it (Thursday 14 Nov Money Show, Radio 702 / Cape Talk). The biggest winner of all is the Children of the Starfish Foundation and I'm thrilled to have been a small part of helping them.

You can download the Podcast of the Show here Money Show R1000 Challenge Grand Finale

And watch a short video overview here Money Show R1000 Challenge Video Clip

The Grand Finale last night was spectacular fun, and the profits of each contestant were only revealed at the last moment it seemed. So I kept selling Beautiful Bracelets from the moment I walked into the Entertainment Studio and then whilst the Money Show was in progress, continued to sell Beautiful Bracelets via Twitter to anybody in the room who would buy.. here is how it unfolded on Twitter:

 Although this didn't result in a winning total profit it certainly added to the joyful spirit of the evening!

Radio 702 MoneyShow Challenge Update: Week 6

A very exciting day: The Grande Finale!

Whether I win or lose, this has been a wonderful experience. The most rewarding part of it has been in bringing joy to others: Those who have helped me, those whom I have helped (by creating employment), and those who became clients or customers by purchasing Beautiful Bracelets!

Achievements:

Beautiful Bracelets have sold to people from different towns and cities in South Africa, and have traveled to India, Sweden, England and America! So Beautiful Bracelets has in the short space of 6 weeks become a truly international company, by virtue of being found on the wrists of ladies living overseas..

We found 2 retailers in Johannesburg willing to stock the Bracelets, and this past week, The Ballet Box in Cape Town paid for stock which should be delivered shortly.

Production of Beautiful Bracelets was better than all previous weeks in anticipation of a Weekend Market where 600 women were attending a Conference. Sales were good, although I had hoped to sell more!

I think one of the things I can rejoice over is that "Beautiful Bracelets" has been extremely well branded over this period directly as a result of being a part of this Radio 702 / Cape Talk MoneyShow Challenge, although I was thrilled to have been inspired in the middle of the first night of the Challenge 6 weeks ago with such a catchy name.. And what a win to find the domain name available, as if it had been a "hidden treasure" for years, waiting for this moment! Having mentioned the great publicity, I should point out that although the Branding of the Name has been excellent, so far it seems only 25% of sales have come as a direct result of this competition and its branding (which is quite a lot), most of the sales have been as a result of my existing networks with family, friends and colleagues, as well as my energetic sales initiatives.

Something I am really thrilled about is the Book: "1000 Beautiful Bracelets" (How I made a profit on R1000 in just 6 weeks and how you can too). A real winner! The book will be published by Modjaji Books and should be on the shelves by April 2013, pre-order on the Beautiful Bracelets website here. People are already putting their names down on the list..

Disappointments:

I would have liked to have sold more Beautiful Bracelets. I had a personal goal to sell 1000 Beautiful Bracelets, probably ambitious... but the year isn't over yet: we will certainly celebrate once this target is reached.

A Good Result:

The most important part for me in this Radio 702 MoneyShow Challenge is that I have not just created this business as a 6 Week Wonder: Beautiful Bracelets is on a good path towards ever-increasing successes, a business that will continue to help people by continuing  to create employment and bring hope to people or are unemployed and perhaps even hurting and broken people, especially women. We already have Christmas Markets lined up from now until the end of the year, and look forward to excellent sales in the remainder of 2012.

The Big Reveal Tonight...!

Finally we have the Radio 702 / Cape Talk "Big Reveal" tonight during the Money Show aired on both radio stations between 6 and 8 p.m. This is where they will reveal who the winner of the Challenge is, out of  5 Contestants including Paul Theron, Tshego Modisane, Pavlo Phitidis and Warren Ingram and myself.  It seems Bruce Whitfield will be devoting most of the Program this evening to the R1000 Business Startup Challenge and even if I weren't IN the Challenge I am sure I'd be listening. It should be fun! There will be inputs from other parties who will give insights into aspects of a micro business start up.

If you want to listen via streaming audio, you can here on Radio 702

Otherwise, download the Podcast later. There should be links on the Radio 702 website, I will try post the link here once it is available.

I 've had the time of my life in this Challenge, it has been a WONDERFUL 6 Weeks in my life, I've worked hard, and enjoyed it thoroughly. They say "hard work is its own reward".

77 Low Cost Business Ideas

1. Adventure Tours
2. Airport Shuttle
3. Antiques
4. Arts & crafts business
5. Bookkeeping
6. Business support
7. Caregiver for Handicapped or Elderly
8. Cart/kiosk (e.g. roadside hotdogs, boerewors rolls, samoosas)
9. Child-care
10. Children’s Fitness
11. Children’s Theme Parties
12. Children’s Transportation
13. Cleaning Offices or Homes
14. Computer Repair
15. Computer Tutor
16. Consulting
17. Custom Jewellery and Accessories
18. Desktop publishing
19. Direct sales
20. Dog Day Care
21. Dog Obedience Training
22. Dog Walking Service
23. Drycleaning/laundry pickup and delivery
24. eBay, BidorBuy, Alibaba
25. Espresso/Coffee Cart
26. Event planning
27. Executive Search
28. Financial Advisor
29. Fitness Training
30. Food (eg cupcakes, sweets, etc)
31. Freelancing your expertise (eg social media consultant)
32. Gift basket
33. Golf club cleaning
34. Grocery Shopper
35. Handyman
36. Hobby business (e.g. jewellery making courses)
37. Home and Office Organiser
38. Home Decorating
39. Homestaging (Preparing a house for sale)
40. House Cleaning
41. House Painter
42. House Renovations contractor
43. House Sitting
44. Interior designer
45. Landscaper/Garden services
46. Language Translation
47. Manufacturer's rep
48. Meal Preparation
49. Medical claims
50. Mobile carwash
51. Mobile Massage
52. Mobile Mechanic
53. Mobile photography
54. Office Relocation Service
55. Organizer
56. Personal Chef
57. Personal concierge
58. Personal shopper
59. Pet Care
60. Pet Sitting
61. Picture Framer
62. Pool cleaning services
63. Relocation Services (liaising with International Trade / Embassies)
64. Restaurant Delivery
65. Seamstress/Tailor
66. Security specialist
67. Self-defence instructor
68. Seminar production
69. Shopping Shuttle for Retirement Homes/Villages
70. Sports business (e.g. “Walk/Run for Life”)
71. Sports Instructor (Tai-Chi, Kickboxing etc)
72. Transcription service
73. T-shirt Design
74. Tutoring service
75. Wedding consultant
76. Window Washing
77. Windscreen repair

5 Key Issues for Effective Logistics

Today I noticed our first compliment on HelloPeter.com (click to view).

Which brings me to one of the most important things if you're contemplating an online business, and that is to ensure you have an effective Logistics Strategy to ensure customer satisfaction. The world is a very small place and if your logistics, delivery and service are excellent this goes a long way to ensuring a favourable perception of your product and branding in the market place. Since I have been wanting to have an online business (maybe several in time), I have been quietly testing the market to see which companies that I order from deliver the kind of excellent service I expect and demand when ordering online. Two of my favourites are Kalahari.com and YuppieChef. Having done that, I researched which company THEY used to handle all their couriers. And one name stood out far above the rest. So I am in negotiations to sign the contract imminently, with preferential rates. It just so happens that over the past month, this local and international courier organisation is running a strategy to favour new startups in e-commerce/online businesses!

There are 5 Key Issues you need to consider for Effective Logistics:

1. Movement of Product. You need to have an effective system in place to ensure rapid delivery of the product to the client whether it be in the case of Beautiful Bracelets, to the individual who orders one Beautiful Bracelet for a 21st Birthday gift to be delivered the next day in another city or to a Gift Shop.
2. Movement of Information. It is important to use "online tracking" so that you know where the product is at all times. And to maintain customer contact if there are any problems.
3. Time/service. Orders must be filled completely, quickly and accurately.
4. Cost. This is a key issue when measuring logistics effectiveness. The highest price does not necessarily mean the best service, nor does the lowest cost necessarily meet your needs. In this business, Beautiful Bracelets, I approached the Company that I felt was delivering the best service and fortunately they are driving to secure e-commerce service which means they have also given a quote for a preferential rate and a phenomenally low price for this service! And that is for both local and international courier charges.
5. Integration: between yourself and your suppliers, your customers and retailers, as well as good internal liaison and integration. Partnership and competitiveness are enhanced by good integration, and meeting your suppliers and clients face-to-face is important to enhance good partnerships and alliances.

Each of the above points is essential to ensure the success of your logistics, its value-add to your business and your competitiveness in the market place.

Radio 702 MoneyShow Challenge Update: Week 5

Although I try to get this Weekly Update on Beautiful Bracelets done first thing each Monday, this one is a bit late on purpose, I didn't want to pre-empt the In-studio Radio 702/Cape Talk interview with Bruce Whitfield on the Money Show. If you missed this, you can listen/download the Podcast here: http://bit.ly/WrdS7z 

With Bruce Witfield in the Radio 702 Studios

There were a few landmark things that happened in Week 5:

1. First international order confirmed via the Beautiful Bracelets website (for 14 Beautiful Bracelets, from London!).
2. Firehouse Gifts, Dunkeld West Shopping Centre, Jan Smuts Ave, Johannesburg requested and took delivery of Beautiful Bracelets and 2 of these bracelets sold to a customer who walked in whilst I was standing there!
3. A Cape Town Publisher, Modjaji Books, agreed to publish the book in April 2013, which will probably be titled "1000 Beautiful Bracelets" (subtitle: "How I made a profit from R1000 in just 6 weeks and how you can too")
4. Employees: Beautiful Bracelets is now the proud employer of  TWO people, creating employment being one of the major aims of this new business. But of course, one has to watch the profits carefully and ensure that expansion of the staff is in line with growth in the business. This is something we will continue to monitor carefully.

Like many people reading this Blog, we are sitting on the edge of our seats and working very hard until the last second, doing our best to beat the other 4 Contestants in the Radio 702/Cape Talk Money Show R1000 Business Challenge.. Since Beautiful Bracelets is a retail item, it all comes down to sales at the end of the day, and we are not sure how all the contestants are doing, so from our side we are doing our best and working as hard as is humanly possible to ensure success. We can do our best. The final decision rests in the hands of the Judge.

Have a Good Work Ethic

Although the word “ethics” when it comes to business might mean the ideals of having integrity, honesty, morally correct or being a person who doesn’t get involved with bribery, corruption, etc in business.. but this is not what I mean by the heading. What I mean is, if you want to have a great business you have to “show up”, be there on time every day, and work consistently for the full day, exercising good self discipline and energy in one’s input. This does not mean, become a workaholic. It is important to maintain a balance of a healthy mix of work, physical health and relaxation and fulfilling relationships.

There are a few things that assist with having a good work ethic.

Self discipline: This is important: keeping focused on the goal and ensuring you complete the daily tasks assigned to reach that goal.

A Sense of Responsibility: Putting in your best effort to complete the tasks at hand.

Integrity: Work on fostering trust and honesty in relationships with customers, employees.

Emphasis on Quality, working with a sense of excellence in everything you do.

Teamwork: A good work ethic would include being prepared to engage in teamwork as the business grows

Sharing: A willingness to share your expertise with others

Thoroughness: Complete the tasks at hand with attention to detail

Tenacity: Stay with it, even when you feel like giving up!

A great sense of humour! Life is too short not to have fun!

Reasons to Innovate

One of the advantages of starting a Micro Business is the ability to innovate quickly if desired or necessary. No need to consult investors or your upline or downline. Just do it! In a micro business this kind of innovation needs to be done without costing much (with minimal start up capital one cannot over-extend in early stages.)

With Beautiful Bracelets, where we have a product that is working and selling well, one might think there isn't any reason to innovate. However, it is wise to listen to both your clients and your “gut” feeling. Since the beginning of this Radio 702 Money Show R1000 Startup Challenge, “Beautiful Bracelets” have been designed as Bracelets with lots of “bling”. And selling really well in this design. However, I have never been a “bling” person until recently: a great way to market the product is to be wearing “Beautiful Bracelets”, a matching one for each outfit, each day! And very often people including my Personal Business Banker and a colleague at a Business Dinner function, have bought the Beautiful Bracelet off my wrist! So this marketing technique has worked really well.

I have been aware that perhaps there are some people out there prefer an “understated elegant” look. So today, we decided to innovate and very soon a few of the new Beautiful Bracelets will appear on our Products List for sale on the website – once we have tested the market by presenting a few of these new designs “For Sale” at a local country market, one of the better markets in South Africa, the Irene Market. The new designs have the “understated elegant” feeling, a more simple design, very classical, and the kind of Bracelet that would actually go very well worn together with gold or platinum jewellery. Perhaps a bit soon to talk about any kind of innovation before it’s even tested in the market place, but I have a very good feeling about the new range!

Other innovations that Beautiful Bracelets will be displaying soon will be a small range of matching accessories, “Beautiful Pendants” and “Beautiful Earrings” both ideas having come up in conversation with clients who purchased Beautiful Bracelets and have actually pre-ordered and requesting matching necklace and earring sets.

Reasons to Innovate:

1. Survival: Companies that don’t innovate don’t survive 
2. Revenue: It’s a tough market out there. If you want customers to open their wallet you need to keep innovating so that you’re giving the customer what they want. Especially in the Fashion Accessories market this means following the trends including whether clients are wanting bright or muted hues.
3. Culture: South Africa is a Melting Pot of different cultures. It is amazing that even within the Cities of Johannesburg and Pretoria, where from one suburb to the next, a certain group of clients when purchasing accessories might prefer the “brights” yet in another suburb, neutral shades sell really well.
4. Creativity: Businesses with competitive growth patterns demonstrate creativity with an appetite for risk.
5. Entrepreneurship: The best entrepreneurs have the ability to transform useful inventions into valuable innovations.

Innovation is the specific instrument of entrepreneurship. The act that endows resources with a new capacity to create wealth.  (Peter Drucker)

You have a Miracle in your Mouth

I really believe we have what we say. For this reason I am careful to watch the words out of my mouth. I believe I define and create my future with my words.

"The Secret of your Future is Hidden in your Daily Routine." Dr Mike Murdock.

Speaking out positive words over your life, each morning, is one way to ensure success. I am not the only one who believes this. Many successful people especially if they are international speakers, touch on this subject at some point. The way to do this practically is to put your vision, dream, goal/s down on paper and formulate them into a simple Affirmation that one could speak out daily, before starting the day. If you don't have the time or inclination for that, there are many Affirmations you could download off the internet, and adapt to suit your own belief system, values, and the scenario you wish to create. (Google "affirmations").

An example of one such affirmation:

I see right through appearances and illusions and know that abundance is all mine.

My abundant thoughts and actions lead in the perfect direction of my desires.
I AM thankful for the limitless, overflowing Source of my abundance.
I AM showered with blessings and my Divine Inheritance.
God provides me with all that I desire, whenever I desire it for as long as I desire it.
God provides me with more than enough substance and supply.
I AM easily, openly and freely accepting abundance, now!
I receive an excellent supply of abundance in my Life daily.
I AM always in the right place at the right time.
I live in the likeness and image of God's Divine Abundance.

Press Releases to Promote your Micro Business

One of the little-used and totally free means of advertising your startup business is to write press releases for as many publications as will host your article. For a comprehensive step-by-step guide, try Wikihow here. It's a bit long-winded for me but it would be useful for someone who has never done this before. I am used to writing Press Releases (from student days at High School where I was Editor of the School Page contribution to the Zululand Observer). So you don't need a journalism degree to do it yourself!

Each Press Release should be geared for the particular audience. I wrote an article on Beautiful Bracelets for the "Women of Acts" monthly newsletter (an inspirational newsletter for the ladies in Acts Church).

I also approached the Editor of the SAGoodNews who has requested an article geared towards highlighting the social upliftment part of the business idea for Beautiful Bracelets.

An article for the local Midrand Reporter would have a different angle (probably geared towards "what's happening in your local area - being Midrand). Find publications in your suburb or city...Sandton Chronicle, Knysna Herald, Tygerburger or People's Post (for Cape Town). Very often they like to publish the human-interest angle on your new business.

Sometimes they might request a very small "paid advertisement" to run alongside your publication, this wouldn't be too expensive and the increased sales would probably pay for it. If you focus on the Community Social Involvement aspect of your new business you will easily find many publications happy to publish with no charge.

I will be also approaching a free lance journalist I know who might be prepared to write an article that she would be paid for but would gain a wider audience via her networks and links to publications with a broad reach. Use every connection you have to gain wider press coverage for your new business, if you don't know anyone then create a general press release and email it to the Editor of as many publications as you can think of! It would be well worth it even if only one publication picked up on the article. Be aware they may edit your Press Release to suit their style but if you have done your research you would already have written each one directed to a particular publication which would also improve your success rate in getting published!

Common Sense Marketing Ideas

Marketing tips: methods that seem to work for Beautiful Bracelets:

1. Email your database of friends, giving them a brief outline of what you are doing and how they might get involved to assist your new business idea, with links to your website/Facebook Page and suggest they might be interested to purchase one of your products (Beautiful Bracelets work well as gifts for Birthday/Christmas).
2. Design a Beautiful Website that sells your product and solves a problem (Beautiful Bracelets - the perfect Christmas Gift - for those who wonder what to get this time!)
3. Use all your Social Networks (Facebook, Twitter, etc). Connect with all your "friends" and ask them to also share your product "Page" with their friends too. Yesterday, a Beautiful Bracelet was purchased online by someone in Durban who is friends with a friend of mine in China and noticed "Beautiful Bracelets" on their Facebook Page! Don't underestimate the power of Social Media!
4. Blogging creates awareness of the product: create interesting topics that draw people to your online website. Another "selling" opportunity here.
5. Build in-person relationships with friends/partners who are already established: you never know who they may refer you to down the line!
6. Don't over promise and under-deliver: Only market features you currently have. I would like to extend the Accessories Range available, but for the sake of this 6 week project, it works better to maintain a low cost-input ratio rather than expanding the range of products available (necklaces, earrings, scarfs, etc).
7. Keep your marketing costs low by using friendship marketing, (free) press releases, and maximise every opportunity for publicity.
8. Use the power of Word-of-Mouth.
9. Be willing to spend money to make money.
10. Use all the free tools you can find (free website, social media, free advertising etc).
11. Get new business every day. This is crucial for a start up. Don't waste all your time on admin tasks instead of focusing on the marketing aspects.
12. Target your niche market.

Marketing a new business should be a priority for any new business owner. Your business idea can succeed or fail depending on whether you master this or not!

Radio 702 MoneyShow Challenge Update: Week 4

I can feel the heat in this Radio 702 "R1000 Business Start Up Challenge". Fortunately I am one of those persons who thrives under stress. I actually enjoy it! On the positive side, the method and operations are beginning to reach an established pattern and the areas requiring serious focus are very clear. Growth has been steady, and improving week-on-week This is important. Although this Business was started on a whim (read the background if you haven't already), I fully intend to grow the business and continue to use it once the Business Challenge ends, to help people find meaning in life via the employment opportunities it creates, especially the Women of the Scarlet Thread organisation.

1. Beautiful Bracelets had its first Press Release published in the Women of Acts Newsletter! (This Newsletter reaches at least 3500 people in the Midrand area).
2. Sales were good but could improve.
3. Overseas visitors go crazy over Beautiful Bracelets and buy up the entire stock available at any point of purchase!
4. Production of Beautiful Bracelets in Week 4 exceeded all previous "per week" levels.
5. Beautiful Bracelets was accepted by "Gossip" Fashion & Accessories Store as a product they will sell. (Shop 16, Carlswald Lifestyle Centre, New Road, Midrand). This is a watershed moment since it is the first retailer to sell "Beautiful Bracelets".
6. Maintained Staff wages payments on time. This is one of the most important attributes since one of the objectives of the business is to create employment.
7. Once again, Twitter Followers have doubled this week which is very gratifying. I am aware there are other ways to increase Followers, and these will be addressed at some point. If you're reading this, and you're not yet a "Follower" on Twitter, please click on the link top right of this page, it will help us grow the business. Much appreciated.
8. Beautiful Bracelets will be signing a contract with the best National Courier Company who fortuitously decided in the past week to offer phenomenal preferential rates to start up e-commerce businesses in South Africa. Since it is a courier company with international affiliations this is a fantastic opportunity. To be announced once all signatures are done!

Low Point: A few customers who were unaware that the price had changed on the Beautiful Bracelets website (to R95 from R70, see last Week's Update), walked out of the "Gossip" Fashion & Accessories Store, saying they will buy the Bracelets off the website, not from the store. I would like an opportunity to apologise in person, if you are one of those people and just happen to be reading this, please contact me via the website? It is not easy to maintain price control once one has many outlets (you just have to go to PriceCheck to find the same product, at different prices in different stores). But regardless of this, I don't want unhappy customers or unhappy retailers and as far as possible am attempting to at least for the purposes of this Challenge, maintain a uniform price at all outlets whether online, in stores, or at flea markets.

High Points: 

1. Cappuccino's Midrand has become a friend of "Beautiful Bracelets". People who meet me there for business comment on the fact that they seem to love me. Well, Cappuccino's Midrand looks after their business customers very well. No surprise they are busy all the time, no matter what day of the week it is.
2. My Business Banker bought the Beautiful Bracelet off my wrist. This just has to be the best thing ever! I never thought I would be making money off my Bank. Usually it is the other way around!

Objective for Week 5: Creating more markets/outlets for sales and maximising each of those selling opportunities.

The Real Rainmaker

I am feeling exhausted. And under pressure to achieve phenomenal results in this Radio 702 R1000 Business Challenge. It is a matter of honour. (UK spelling!). But one thing I decided irrevocably from the start, was that I would take 1 day off a week to rest. I don't want to land up in hospital after 6 weeks due to working 20 hours a day! I can do everything humanly possible to bring success to my involvement in this challenge. I can put as many "seeds" (or Beautiful Bracelets) out into the marketplace as possible. But without rain (or sales), it is all fruitless, running to and fro. God brings the rain. So today, I take comfort in the Psalms (since it is Sunday):

Yes, my soul, find rest in God;
    my hope comes from him.
 Truly he is my rock and my salvation;
    he is my fortress, I will not be shaken.
 My salvation and my honor depend on God;
    he is my mighty rock, my refuge.
Trust in him at all times, you people;
    pour out your hearts to him,
    for God is our refuge.

 Surely the lowborn are but a breath,
    the highborn are but a lie.
If weighed on a balance, they are nothing;
    together they are only a breath.
 Do not trust in extortion
    or put vain hope in stolen goods;
though your riches increase,
    do not set your heart on them.

One thing God has spoken,
    two things I have heard:
“Power belongs to you, God,

    and with you, Lord, is unfailing love”;
and, “You reward everyone
    according to what they have done.

(Psalms 62:5-12)

Daily Routines for Success

“The secret of your future is hidden in your daily routine.”

“You will never change your life until you change something you do daily.”

― Mike Murdock

One of the tips Donald Trump gave for business success is that one should do a little work, every day. In a product related business, especially initially, one has to make sure sales are happening daily, if not, be working daily on opening up selling opportunities, every day. Pavlo Phitidis (Radio 702's Small Business Guru) says one should make 20 cold calls a day. I believe that in a start-up situation especially in the service industry (or for a new sales person developing their territory) this should be increased to 100 cold calls/tele-marketing calls per day! 20 calls is just a "maintenance" figure once the sales are happening.

For Beautiful Bracelets, I am finding the best approach to opening up new business and selling opportunities is to actually meet the owners of stores face-to-face (or in the case of fleamarkets, the owners of stalls/stands) and negotiate for them to stock Beautiful Bracelets even on a trial basis. One person agreed to stock just 4 Bracelets on Thursday and phoned me with great excitement today (Saturday) to say he'd sold all 4 Beautiful Bracelets to a person who was returning to India and would have bought 10! I have a very keen new retail customer now! Most people are prepared to do a trial run for a month or so, and re-assess after that.

I haven't had time yet to explore e-Bay, "Bid or Buy", or Alibaba as potential platforms for retail, but that is on the "To Do" list. One comment from someone I mentioned it to was that "Bid or Buy" is expensive for retailers. Got to check that. Starting up a new micro business is very time-consuming since you are the product developer, manufacturer, employer, accountant, publicist, marketer, sales rep, etc. It is hard work if you require excellence of yourself.

But the fun and the "joie de vivre" are worth it!

Problems Every Startup Business Might Encounter

Every new relationship can be fraught with difficulties that need to be ironed out and starting a new business is very similar. Here are a few difficulties that one come across when starting a new business.

1. The Market is Saturated.You might have started something then suddenly realise that the market you intended to enter is actually saturated. Innovation is key. The Accessories market is actually saturated with Chinese imports that come in at a very much reduced price to what Beautiful Bracelets sell for. The important thing here is, to then find a niche market. Beautiful Bracelets have been compared to other types of Bracelets that I hadn't even heard of before commencing the Radio 702 Money Show R1000 Challenge. But my designs are slightly unique, and I have purposely worked on designing and manufacturing a product that I haven't been able to find anything exactly like it, anywhere. And I innovate quite often, creating new designs weekly to keep up with latest fashion trends. I am keeping my research up to date by speaking to store owners who are currently selling accessories, especially Bracelets.
2. One of the Partners isn't Delivering. You may have a partner who doesn't pull their weight. In my first business, a recruiting company that required an early start each day, I made a mistake of pulling in a partner who arrived at 10 or 11am after spending the morning at the Beauty Salon! That partnership didn't last long at all.
3. Sales aren't meeting projections.When projecting numbers, especially if you are presenting to potential new business partners or to a bank for financing, it is always better to "under promise and over deliver". This makes the business look good. Very often customers might be slow to accept a new product, preferring to stick with what they know. One has to work harder to gain acceptance.
4. Under Promise and Over Deliver! If it is an online business (Beautiful Bracelets has a website where people can order online and get Beautiful Bracelets delivered to them), then there might be problems with delivery. Like the road transportation strike at the beginning of October just as this business was starting. Deliveries that were usually "overnight" could take 10 days. To cover for that kind of problem, it is once again better to "under promise and over deliver". Even if you are paying for overnight delivery, tell the customer it will take up to 10 days. That way you're covered for any eventuality.
5. Pricing issues. Do your research correctly and don't sell for a price that leaves you with hardly any profit. The price should be at the maximum price that the market will bear. Handle your price increases in the right way. That is a matter for a separate Blog, it is very important! You can lose customers if the price reflected on your website and in the stores is different. Keep the price uniform on all platforms.
6. Cashflow is killing you. In a sales or service oriented business, it is very important to be securing new selling or business opportunities on a daily basis. That is crucial. Work out the sales cycle. For example, in recruiting, we worked on a 21 day turnaround. If we were not making cold calls and getting Resumes out to clients on Day 1, there would be no deals closed on Day 21.

Take control of the destiny of your business and learn from the challenges. The real fun begins when the honeymoon is over!

How to get your Products into Retail Stores

Yesterday was a red-letter day. Beautiful Bracelets are now proudly displayed in the main window and inside the shop of Gossip (Fashion & Accessories Shop) in Carlswald Lifestyle Centre, New Road, Midrand! After having already done it...I thought, what do you say to someone who needs advice on how to do it themselves? Well I then googled "how to get your products into retail stores" and found a whole lot of rubbish. Like write a business plan. On how to do it. I say if you have only 6 weeks to make a profit you need to be much more pro-active and you cannot waffle through writing a business plan on how you will achieve getting your products into retail stores with 19 points. Take a few samples of your products and knock on doors. You could do the "cold-calling" idea and make some phone calls first with a view to setting up an appointment with the owner but in this case it would probably yield a less than satisfactory result. And of course, unless you're not paying for the phone calls, it would eat a large chunk of your profits (in South Africa all phone calls including local are exhorbitantly priced which is why more people here use text/SMS or Whatsapp and email.)

I am assuming that by Week 3 of the "6 weeks to profit with only R1000" you've already done your market research by selling quite a few (or a few hundred) of your products and now you really do know what the market wants, and if it is actually a fashion item like Beautiful Bracelets is, you've also researched and discovered in the previous 3 weeks what shades are people actually buying at the moment. In South Africa right now, it is late Spring, Summer is almost on us, and this season the fashion shades are "sorbet" or "ice-cream" shades. Soft pinks, lemon yellow, mint green and turquoise are selling like crazy. And "grey" is the new "black". So of course, amongst the different types of bracelets I am making sure these colours (spelt UK way for any American readers since half the readers of this Blog seem to reside there) appeared in my samples.

Of course, then the next thing you want is to have direct access to the decision-maker for the retail store, usually for a small gift or accessories shop this would be the owner. Who might not be easily available. The first store I stopped at wouldn't even give me the owner's phone number. They really lost out on a wonderful opportunity. Such a pity. Because within a few minutes of that conversation it just so happened that the owner of the Accessories store I walked into, was present, re-designing and re-arranging all the displays in the store. We have all probably heard the saying "Luck is when preparation meets opportunity". Well I certainly made the most of that opportunity. And Beautiful Bracelets are just that. Beautiful. They sell themselves to anyone who looks at them, and they seemed to preen in front of Louise, the owner of Gossip  Fashion & Accessories Store..

One has to be very business like and negotiate a proper contractual arrangement on a selling price you can afford to release the goods for, yet still make a (smaller) profit and have the product stocked in the shop at a price that would still be attractive to the customers. This selling price needs to be the same as the price reflected on your website for each item! Payment terms need also to be negotiated if the products are on consignment. In South Africa a verbal contract is binding but for a long term arrangement it would be wise to put in in writing and have both parties sign, fairly early on.

To get products into the national Retailers, which one would do having grown to a level to sustain supplying that level of demand, one would have to hire an Exhibition Stand at one of the Trade Fairs/Expo's that all the Retail Buyers attend, like SARCDA or Design Indaba (for South African Retailers).

It's a memorable day, and the overwhelming feeling is one of gratitude.