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Business License Bill shows dti’s lack of understanding of entrepreneurship. “CLUELESS ABOUT REALITY“ Author: Ryk van Niekerk (Moneyweb’s managing editor) 30 April 2013 “Trade and Industry Minister Rob Davies is out of touch with the reality of entrepreneurship. The proof: the newly proposed Business Licensing Bill. The Bill underlines the lack of understanding of the challenges small and medium sized businesses […]
» Read moreYes, INTIMATE. Collect the names, email addresses, and phone numbers of your current and prospective customers and communicate with them regularly. Your mailing list, or customer database, is your biggest source of lifetime profits. I don’t know why, but 90% of businesses never bother to keep track of their loyal customers, let alone any prospects! Here’s why you should keep […]
» Read moreNo matter what your business, marketing your products and services is critical to success…regardless of the economy. In tough times most businesses cut back on marketing, yet, if businesses continued to market and market effectively in the tough times, then they would grab more market share and leave their competition in the dust. Many businesses fail because they fail to […]
» Read moreDue diligence is probably the most critical stage in the buying process. Many prospective buyers incorrectly identify this period as strictly a financial review. However, an effective due diligence goes far beyond the numbers. Due diligence is the complete investigation and review of a business. One of the keys to buying a good business comes from your ability to learn […]
» Read moreIn a survey by doctoral students, banks were asked about the importance of a business plan. Without exception, the top four banks in SA admitted that they place little importance on a business plan when they are faced with an application for business financing. What? Yes, you read it correctly. My immediate reaction was to question why this was the […]
» Read moreYou are trying to help your friend or family member. He is down-and-out. He cannot find work. You know (or think) he is a hard worker. It makes so much sense. It is easy and comfortable. You know your friend well – you will work well together. Or will you? Your brother (sister, son, daughter, uncle, father …) may firstly […]
» Read moreTo price below or above your competition, that is the question. I think of the four P’s of marketing (product, promotion, place and price), pricing is the most challenging. If you sell your product at a lower price to your competition, then you may be telling the market that it is inferior. It may be perceived as a lower quality […]
» Read moreMediocre: of moderate or low quality, value, ability, or performance : ordinary, so-so or as thy say in French: “Comme ci, comme ça”. Surely no one wants to be mediocre? Nobody wants to be “ordinary” or just “so-so”. Or do they? If I look around me, it seems many people are mediocre – whether they want to be is another […]
» Read moreMost businesses chase new customers. They have positions called New Business Development – and the person filling this position generally has to do cold calling – phoning potential clients and trying to get them on board. The pressure is really on – the new business development / manager / consultant has to make 5-10 calls per day, setting up a […]
» Read moreAs stated before, one of the most difficult things about starting a business is to decide WHAT type of business to begin. You may have heard that there is big money in this industry, or in that industry. That maybe be true – but that does NOT mean those industries should be tackled by you. My 93 year old dad […]
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