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The Office

Resources to help you save money while setting up your office.

Entrepreneur

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One big mistake many start-ups make is to over spend on flashy new offices and equipment. This is an unnecessary expense in the early stages when you should be focusing on impressing customers with your product and service.

  • Office space

Regus

If you can’t work from home, or if you would like a more professional environment when meeting with clients, Regus lets you rent office space. It will also save you the upfront investment needed to equip your office from scratch. You can rent ready-to-go workspaces with the widest possible range of complementary support services available on demand. You will only be charged according to your usage, or take out a short-term contract and you will have access to Regus Business Lounges, Meeting Rooms and Video Communications at preferred rates.

Get it from: Regus (www.regus.co.za)

The deal: Pay as you use (costs vary)

  • A hub for productivity

The Hub

For start-ups based in Johannesburg, The Hub offers shared office space with desks and kitchen facilities. You will also have access to high-speed Internet, copy/scan/print equipment, telephone facilities and IT support. There are various membership options available to entrepreneurs ranging from Hub Connection which provides five hours of access at R120 per month to Hub Anchor, giving you unlimited
access at R2 500 per month.

Get it from: The Hub Johannesburg

Cost: Starts at R120 per month

  • Virtual office

Regus

If you are on the road meeting with clients and working hard at building your business, you can make use of Regus’ Virtual Office product. A virtual office gives your business a prime business address and dedicated phone number, as well as a multilingual personal assistant to handle your calls and mail.

Get it from: Regus (www.regus.co.za)

Cost: From R399 per month

  • Affordable IT rental

Spartan

If you aren’t in a position to buy the IT equipment needed, you can rent the latest hardware or software from Spartan. This will free up cash flow to develop other areas of your business. There is also an option to rent refurbished IT equipment, which will be cheaper. You can choose between a 12 or 24 month solution which includes everything from IT hardware to insurance and loan units.

Get it from: Spartan (www.spartan.co.za)

Cost: Prices vary

  • Hassle-free IT rentals

Qrent

Qrent offers a range of cost-effective rental options on a variety of ICT equipment, including laptops, desktops, printers, copiers, LCDs, plasma screens and projectors. Renting is an inexpensive way to access technology over a long term or just temporarily. You can rent the equipment for any period, from one day to three years.

Get it from: Qrent (www.qrent.co.za)

Cost: Prices vary

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How The Sanlam Enterprise And Supplier Development Programme Is Helping Start-up Businesses

The balance between funding, business development and mentorship can make or break an enterprise development programme

Francois Adriaan

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Sanlam Enterprise and Supplier Development

165 new employment opportunities, 172 SMEs developed and 1046 jobs sustained. These are some of the numbers recorded by Sanlam as the company prepares to wrap up the fourth year of its Sanlam Enterprise and Supplier Development (ESD) programme.

The flagship incubation scheme has turned around loss-making enterprises, helped some participants get critical accreditation and funding, but most importantly, R12.6 million was spent procuring goods and services from the participating businesses by the end of 2016.

Related: Enterprise Development Programmes For Black Entrepreneurs

Receiving funding isn’t the secret to start-up success

Francois Adriaan, head of Sanlam Foundation says the secret to a successful enterprise development programme is not the amount of funding big corporates can give SMEs: “It’s having the right mix of mentorship; business intervention and procurement spend flowing from your corporate to small businesses.

You have to show the entrepreneur you are mentoring that you trust them enough to do business and walk the journey with them instead of giving them a once-off grant and leaving them to their own devices,” says Adriaan.

Financial support that’s timed to business need

Like in many other ESD programmes, participants in the Sanlam ESD programme also have access to funding. But what sets the programme apart from others, says Adriaan is that the amount of funds disbursed to each participating businesses is directly linked to its need, its commitment and progress record.

“Financial support is timed according to the specific needs of each SME. Those who qualify for funding are then provided with a further seven years of SME growth support through the ASISA Enterprise Development Fund.”

The Sanlam ESD programme

The Sanlam ESD programme was launched in July 2013 in collaboration with the Association for Savings and Investment South Africa (ASISA) to empower SMEs, create jobs and contribute to economic growth in South Africa. An independent evaluation shows that participating enterprises have grown their annual revenue by 19% on average.

D&P Auto participants

One of the programme participants is D&P Auto, a panel beating business based in Retreat. For two decades, the owners of the business (husband and wife) poured their life savings, bank loans and even pension policy pay-outs into the business to keep it afloat because it was not making profit. Three years of focused business incubation and mentoring under the Sanlam ESD programme resolved D&P Auto’s 20-year loss-making battle.

“Our business has grown from a non-profitable business to the extent that we now have to pay provisional taxes to SARS for the first time in 24 years,” said Pam Douglas on their business maiden profit.

Successes of the incubation programme

The incubation from the programme has helped other participants brush up their bookkeeping skills, file successfully for tenders and get accreditation that took their businesses to the next level.

G&T Auto, the only fully accredited Major Structural Repairer in the programme, bagged Mazda accreditation last year, a rare accolade that will see the enterprise repair Mazdas that are still under warranty. The owner, Thembi Sithole says the programme has given her confidence to approach bigger clients as she now understands the requirements to get big contracts. She has also become more knowledgeable about financial statements and their impact on obtaining funding.

Related: Why Employee Engagement Programmes Backfire And What You Can Do About It

Adriaan says enterprise development initiatives of this nature give big corporates an opportunity not only achieve their business objectives, but also impact broader South African society.

“This commitment is around impacting issues of inter-generational poverty, unemployment and inequality. It is also about aligning around public-private-civil society partnerships in sustainable ways,” concludes Adriaans.

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Are You Ready For A Side Hustle? Here’s How To Know

We talk to side hustle pro Susie Moore about who should jump into entrepreneurship and when is a good time to take the leap.

Andrea Huspeni

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side-hustle

It seems like everyone has a side hustle. Indeed, 1 in 4 millennials have a side hustle, part of the  54 million Americans making money outside of their pay cheque.

But are you ready to get your hustle on?

According to Susie Moore, a life coach and the founder of Side Hustle Made Simple, you are always ready to begin a side hustle. You just need to know where to begin.

Related: 3 Ways To Set Your Side Hustle Up For Success

Moore has helped thousands of people take the leap from concept to creation in making their entrepreneurial dreams a living, breathing reality by launching a risk-free side hustle. She left her $500,000 job after her own side hustle took off within just 18 months.

She’s also the author of What if it DOES Work Out? How a Side Hustle Can Change Your Life released this fall, speaker and adviser to startups. Her work has been featured on the Today Show, Marie Claire and more.

To help aspiring entrepreneurs understand what it takes to be a side hustler, Moore is joining us for this week’s episode of Tough Love Tuesday, our Facebook Live series that connects experts with side hustlers for real-time advice and support.

Related: 50 Jobs, Gigs And Side Hustles You Can Do From Home

Specifically, she’ll share:

  1. The qualities all side hustlers need
  2. Advice that turns great ideas into action
  3. Strategies for making money right away
  4. Ideas for perfect side hustles
  5. Productivity hacks that prevent burnout.

This article was originally posted here on Entrepreneur.com.

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(Video) Why Your ‘Great Idea’ Actually Sucks

Don’t get caught up in coming up with the next big idea.

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Everyone wants to come up with the next Uber, Facebook or Tesla. But, if Entrepreneur Network partner Patrick Bet-David has to choose between someone with a great idea and someone with great sales skills, he’s taking the salesperson every time. Why?

Related: The 3-Step Approach For Testing Out Your Business Idea

Well, look at the history of great businesses. Ray Kroc didn’t start McDonald’s, but he learned how to sell the fast food restaurant and made far more in his life than the actual McDonalds brothers. Steve Jobs couldn’t code like Steve Wozniack, but he knew how to sell Apple, and his estate is worth far more now than Wozniack’s.

Facebook, Tesla and more. Each time, it seems like the great salesperson ends up earning more than the person who created the great idea to start with.

Watch the video to learn more about the relationship between great ideas and great sales techniques.

This article was originally posted here on Entrepreneur.com.

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