I encourage beginning entrepreneurs to rather tackle small, achievable projects first. This allows them to rapidly gain a full set of skills across a complete project, as well as building up contacts, credibility and confidence - rather than getting bogged down, and run down, working on an huge endless project.
Read moreThe Secret to Building Sustainable Businesses
Ever wondered how all these big businesses started and how they came to be what they are today? The likes of Econet Wireless, Delta Corporation and British American Tobacco in Zimbabwe; Sasol, Standard Bank and MTN. I believe each of these companies has a story to tell, and from those stories we learn a lot about running a sustainable business. To some people business is all about making money, to some it’s all about fulfilling a calling, to some it is all about providing solutions to the current problems, be it social or economic ones.
Read moreENTREPRENEUR SMARTS: Don't Be the Squirrel!
Many startups become isolated and insular, focusing on their product to the exclusion of all else - like the squirrel in Ice Age, who is so preoccupied with his nut that he never really interacts with any of the other animals. This is not good, or healthy. These startups are cut off from the support, camaraderie, flow of ideas, and connections that can prove so vital to a product’s success, and from a vital source of ideas for new offerings.
Read moreThe First Step To Becoming Confident In A Sales Meeting
I was privileged enough to attend the very first #LionessMentoring session at the Standard Bank Incubator in Rosebank, Johannesburg this week. One of the things that really struck me, besides the passion and resilience each women entrepreneur displayed, was the complete lack of confidence in themselves and their sales abilities.
Read moreENTREPRENEUR SMARTS: Do the numbers!
I've been spending lots of time with new startups, from pro bono mentoring to judging pitches at the competitions. Lots of the ideas sound plausible but often suffer from a fatal flaw - the numbers have not been done.
Read moreHow Your Life Experiences Can Help Other Entrepreneurs
This past week I was in Cape Town where I was invited to join other entrepreneurs watch a few hand selected startups pitch their business ideas. The startups varied from post revenue all the way to MVP (minimal viable product), meaning they don’t currently have customers, however they do have a working product. As a group of entrepreneurs who have travelled the path, got the proverbial t-shirt and faced our fair share of challenges, a few things really struck me. The reason why we were there was to identify the best matching mentors for each startup. And isn’t this something that is seriously lacking in our startup community - the power and importance of having a great mentor on your team, who can take their life experiences and help you on your journey.
Read moreEntrepreneur Smarts: Learn from other Ecosystems
How well do you understand the ecosystem in which you are working? What will happen next in this space? How will the forces shaping it affect your venture?
Read moreENTREPRENEUR SMARTS: Think about your Ecosystem...
We've spoken in previous newsletters about the strategy of the flower - making sure that your core service or product is surrounded by a set of world-class services (the petals of the flower) to make up a compelling "whole product". But, it's not enough to just build your flower. You must also make sure that your company and its "flowers" are well positioned in the total ecosystem of your industry.
Read moreENTREPRENEUR SMARTS: De-couple Your Business
Your business is stuck, bogged down, cannot move forward... That’s when many of my clients come to me, so this week we’re going to look at how a de-coupling strategy can help some ventures to move forward.
Read moreEntrepreneur Smarts: Personal change....
In my last article we spoke about S-curves, the underlying lifecycle of all innovations, and how important it is to manage transitions from one S-curve to another. Explained in terms of curves, it sounds so easy. But it isn’t. Every curve represents something - a project, a venture, a dream, a team of people - that we have loved, cared for, poured our life into. And when these things change, we have to change too - and that is not easy.
Read moreStarting a business with absolutely NO money
What a scary thought – not only starting a business, but to start off with no capital - yikes! If you read any article related to entrepreneurs, from Silicon Valley to the African continent, the very first thing you read is that they’ve got funding. But is funding the be-all and end-all? What if you don’t have access to immediate funding, but you have an amazing business idea that will change the world? Well, the alternative is to bootstrap it, to become really innovative to start this amazing business idea of yours.
Read moreHow to deal with setbacks in your startup business
For a startup venture, setbacks may be the name of the game, especially in the beginning phases. You’re still learning the ropes, understanding your market, finding the right team and wrapping your mind around building an empire. As a startup, in order to focus and enjoy positive results and to move forward, it’s all about how you, as the Founder of your business, need to manage these setbacks. Do you take them in your stride? Or are you riddled with fear and anguish for days because things didn’t work out?
Read moreEntrepreneur Smarts: Understanding S-curves
Farmers know when to plow, when to plant, when to harvest, for the best crop. Is there a seasonal code to guide people developing innovations? There is. Every innovation follows a lifecycle called an S-curve. Understanding S-curves will help you to take the right actions at the right time.
Read moreWhy it's important to be grateful for the small things in life
Sometimes we tend to be so focused on the next big business thing, or on how to make our business better, or when to take our product to market, that we completely forget to pause and appreciate the little things in life that really matter. These could be the things that we have, that we’ve experienced, what we’ve learned, and what we’ve achieved along the way. We forget to show gratitude and to show thanks for all that is and to reflect on how good life has been to us so far.
Read moreEntrepreneur Smarts: Get Real!
I’m consulting in the winelands. The estate has ambitious plans to create a virtual online community with all sorts of measures of engagement. I’m not sure this is a good idea…
Read more5 Steps to making effective business decisions quicker
The success of your business is defined by how you make decisions - and naturally, success also lies in how quickly these decisions are made.
Read moreFinding the best market for your product: Niche, niche, niche…
In this blog we’re going to look at finding the best market for your product. “But everyone is the market for my product”, is what many startups tell me. And, “our market is 50 million people, and if we can capture just 1% of the market…”. Wrong approach! Trying to mass-market your offering from the beginning is doomed to failure.
Read moreHow to be a powerful woman leader of the future
If there’s one thing you could ask your future self, what would it be? Perhaps you would ask for advice on how to be a better person or seize well-presented opportunities without hesitation. Would you ask your future self what you could have done to be a better leader? The wisdom of hindsight is infinite - and yet you’re still living in the here and now. Begin by visualising how and where you would like to see your future self.
Read moreHow to remain motivated when the going gets tough
Business can be tough – maybe you’re having a rough day, things aren’t going your way, a client is giving you a hard time, a staff member didn’t pitch for work again, deadlines are looming and projects aren’t being signed off.
Read moreWhy having the right mind-set is key to running a successful business
Success at times can seem quite elusive. You’re running your own business, running a household, and you’re a wife, partner, parent to boot. So how do others do it? They make it look so easy. Does it have to do with them being better at time management? Or, is it that they have a different mind-set to you?
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