Notes from the Journey of the Radio 702 / Cape Talk Money Show R1000 ($100) Business Startup Challenge
How I made a Profit in just 6 Weeks and How You Can Too
Tips for Micro-business Entrepreneurs
Showing posts with label success tips. Show all posts
Showing posts with label success tips. Show all posts

Sunday, January 6, 2013

Health Issues Facing Entrepreneurs

The events towards the end of 2012 including the start up of "Beautiful Bracelets" took their toll over the break between Christmas and New Year and I found myself facing what for me is an unusual (fortunately short) period of feeling extremely unwell. My body rebelled against the major stresses of working hard, long hours for an extended period of about 3 months with very little respite! I really do believe that it is important to rest one day a week, but that is not enough.

So in 2013, I will be factoring in fitness, an exercise program and making sure that I take nutritional supplements to assist the careful diet program I am on (I lost 25 kg during 2012 so that major weight loss with associated detox probably also contributed to the brief period of extreme unwellness). I do feel comforted to be under the guidance of a specialist physician (who is on holiday) and will be careful to take his advice going forward...

We all know what we "should" do healthwise.. the thing is, we need to DO it! The past week has been a little warning to me and a reminder of what I already know: the most important attribute for the success of an entrepreneur is to have good health. Do whatever you need to do to protect that!

Friday, January 4, 2013

Make 2013 Your Best Year Ever..!!

I love the tag-line of the January 2013 issue of Entrepreneur South Africa Magazine... which features the R1000 Start-up Challenge that launched Beautiful Bracelets! You can get your copy in stores now, alternatively sign up for an online copy at via their website at Entrepreneur Magazine. This website is well-worth a visit, it has many useful resources for entrepreneurs which you can get by signing up as a user on their website or if you prefer not to do that, just browse the website.

Sunday, December 23, 2012

Tips to Avoid Burnout in your Startup

On Friday I met someone who said their Doctor had diagnosed them as suffering from Burnout. In September this person had an extended bout of ‘flu and somehow just never regained their energy since then. Burnout is one of the dangers one may face when starting up any new business. Here are a few things you can do that would help avoid this problem. If one doesn’t take this seriously it could affect your income drastically later on should it develop into something like Chronic Fatigue Syndrome.

1. Schedule regular social activities
It doesn’t have to be something hectic like river rafting on the Orange River. A monthly breakfast at a coffee shop with people you don’t see every day would do the trick. The main objective being to pull yourself out of a rut.

2. Keep up a fitness plan
The best way to deal with stress and avoid burnout. This is an excellent New Year’s Resolution. The best way I find to force myself into the discipline is to enter a Race for 3 months time that is a bit of a “stretch” for me (like a 21km). Then work my training around getting fit for that. If that is too much for you, work on a strenuous walk in daily.

3. Get involved with a hobby
Best to have this in a completely different field from what you do daily. For me this is painting: It uses completely different skills sets to what I use daily, and makes me feel completely relaxed a few hours into it.

4. Volunteer
If you’re feeling run down or “low” the best way to get out of it is to get involved with a local community project like an orphanage, a soup kitchen or something like that. At one stage I got involved knitting teddy bears for a project for a few local orphanages. It was very fulfilling (although some of my friends still cannot believe I can actually knit!)

5. Write out your Goals
Take a bit of time out to put things into perspective and work out what your plans, goals, dreams are for the next year.

6. Ask for help
Not easy to do, but sometimes it’s better to ask for help to get back on track. Other people sometimes can see the wood for the trees and help us to focus on what matters.

7. Watch a comedy
There is a good reason for the saying “laughter is the best medicine”. It really works to lift one’s senses.

8. Start the day with a morning ritual
Slow your life down. Instead of waking up and rushing out the door, set your alarm a few minutes earlier than usual and spend the “extra” time sitting in a sunny spot in your living room or garden with a cup of coffee and some quiet time just with yourself and the birds.

10. Stop making excuses
Face the problems that plague you “head on”. Each problem has a solution within it. Do what works. 

Avoiding burnout is something one needs to be vigilant over. There are probably plenty more things one can do, if you have any ideas, add them in the comments below..

Saturday, December 8, 2012

One of History's Most Remarkable Men..

I am being inspired by the biography of George Washington Carver at the moment, an American Scientist, Botanist, Educator and Inventor who invented and promoted over 100 products made from peanuts including cosmetics, dyes, paints, plastics, gasoline (petrol), and nitroglycerin. Born to slave parents, he was orphaned before he could walk. In his youth he fought poverty and throughout his life he battled prejudice. Yet he emerged as one of history's most remarkable men! It is an incredible story.
Photograph of George Washington Carver taken by Frances Benjamin Johnson in 1906

Another person whose biography inspired me earlier this year was that of Steve Jobs. I think what I remember most is that Steve had a sense of destiny. He knew from early on in his life (as a premonition) that he was not going to live long, so he had a sense of urgency to fulfil his life's purpose in a hurry. He was a perfectionist and one of the amazing things to me is that if he hadn't got involved in the computing industry you wouldn't be reading this Blog Post in a pretty type face. One of the elective courses Steve took after "dropping out" of university as a full time student was "Calligraphy". Hence the designer fonts we all have to choose from. Great, I love it when art and science meet in business.

I would encourage you, if you aren't already, to read the biographies of successful people. This is one of the places I gain very useful tips and information on how to run my own businesses and grow successful in them.

Thursday, December 6, 2012

How NOT to Start a Business

A great article in this month's Entrepreneur SA magazine has inspired this post. We desperately need new business startups in this country that will have a greater chance of success. Avoid some of these pitfalls if this is you:

Wrong reasons to start a business: 1) To become wealthy. 2) Job creation 3) Freedom

The main reason to start a business should be to fulfil a need in the marketplace. Better still, to fulfil a need that will evolve in the future, filling a niche that others haven't found yet. And your business should adapt and change as the market moves on too.

A key to success is having the right financial controls in place. "Any enterprise is built by wise planning, becomes strong through common sense, and profits wonderfully by keeping abreast of the facts" Proverbs 24:3-4

You need to know exactly where you stand at all times, keeping your finger on the pulse of things. Poor credit arrangements, lack of financial planning, unnecessary overheads, insufficient reserve funds or cashflow are amongst main reasons business startups fail. Don't use your new business profits like a piggy bank to splurge on luxuries. Decide on a monthly salary and don't go over that.

Be realistic, under-promise and over-deliver. Too many startup businesses make promises they can never make good on. Don't take on an order that is so fantastic there is no way you'd ever fill it. If you can realistically produce 10,000 units, then you need to turn down an order for 100,000 until your capacity for the production is there. Or ask for an extended time period to deliver that will fit your production capacity.

Keep it simple, stay focused, and get the right people for the job. If you pay attention to all these things, your business will have a better chance of success.

For more on the Article that inspired this Post, see Entrepreneur SA.

Thursday, November 15, 2012

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

Thursday, October 25, 2012

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.

Sunday, October 21, 2012

20 Top Tips for Business Success


Donald Trump gives 20 Tips for Success in Business, they are:

  1. Think big
  2. Be positive
  3. Follow your passion
  4. Learn something new every day
  5. Listen to your gut
  6. Be patient
  7. Put a great team behind you
  8. Put beauty in everything you do
  9. Learn to negotiate, because everything you want demands it
  10. Always go for the biggest win possible
  11. Invest in real estate because it is the best investment there is
  12. Take risks
  13. Be audacious and get into the public eye
  14. Be your own brand
  15. Enjoy doing some work seven days a week and on vacations
  16. Say no
  17. Get out of your comfort zone
  18. Be stubborn when necessary
  19. Always have a Plan B
  20. Never settle for second best
I agree with everything except No. 15. If my Creator rested one day a week, then I am not proud enough to think I can do better. I have watched people (even in my own family) suffer emotional and physical health setbacks by ignoring the Golden Rule – to take a day off at least once a week to revitalise, relax, have quiet time with family, friends or in nature, whatever it takes to .restore your emotional and physical energy so that you can put absolutely everything into the tasks and challenges you need to face in your business environment.