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How To Keep Your Eye On The Prize

Sustainable business growth – the objective for social entrepreneurs eyeing global markets.

Chivas

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Being an entrepreneur and building a business that meets the needs of people looking for products to enhance their lives, doesn’t mean that you don’t have to be competitive, disciplined and have the business skills required to take your business to new heights.

In fact, says Chivas Regal, these are the basic requirements for anyone who is intent on entering the world of social entrepreneurship.

This is according to Shelley Reeves, Marketing Manager: Scotch Whisky at Chivas Regal South Africa, the company that sponsors the global Chivas Regal The Venture competition.

Social entrepreneurs from 27 countries have earned the right to pitch their business solutions aimed at benefitting society to an expert panel in New York and compete for a portion of US$ 1 000 000 in funding.

Related: Local Is Lekker Winning With Chivas And The Venture

“When they return home, all these entrepreneurs, will have to concentrate on growing their businesses so that they are sustainable and become the powerhouses that do good in the future,” explains Mrs Reeves.

“But keeping a business on track for growth means never taking your eyes off the ball,” she continues, adding that the following should be considered:

  • Stick to business basics and keep in place the business practices that got you going, as these are a solid base for future growth. Concentrate on quality, consistency and reliability.
  • Create an effective company mission statement that sets your intended direction and provides you with a framework to ensure that you can take advantage of changes in the market place as they occur. The key to growing a business is making sure that you constantly keep pace with market changes.
  • Focus on doing one thing excellently, rather than doing five things well. It is better to develop one product or service to its limits, than try and diversify and lose the focus on the product most valuable to the business.
  • Build relationships with suppliers and customers that last the distance. The ability to deliver high levels of service means working with suppliers to ensure that they give their best, so your customers can get the best you have to offer.
  • Create a productivity-based culture. Each team member must know what their jobs are, what their outputs should be and what they are accountable for. Looking at introducing incentives or bonuses for notable achievements will help keep people focused on performance. The ultimate aim is to build a workforce that enjoys what it does. This creates loyalty to the company, which benefits from a stable employee base and reduced staff turnover.
  • Develop opportunities from within the company. Promoting people from within boosts morale and stops them looking elsewhere – something crucial for a small company where skills are not easy to replace.

Related: Chivas Regal Wants You To Win the Right Way

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Always keep tabs on costs. Having funds available in order to grow production when money is needed is essential. Losing track of what is being spent within the company is the easiest way to stop growth in its tracks.

  • Ensure the systems and processes you use are the best possible and have the ability to grow with the company as it gears up. The better the company is organised, the more ready it will be to take advantage of opportunities as they arise.
  • Constantly know what your competitors are doing. Good market intelligence means that you can meet and defeat competition in the marketplace. Being aware helps build creative responses to business challenges and can spell the difference between success and failure.

“The best advice about growth is that it should always be a considered, controlled process. Runaway growth in a company means placing people, services and quality under stress. Growing too fast can land a business in hot water as easily as losing control of finances can. Resist explosive growth and keep developing steadily if you wish the business to be sustainable well into the future,” advises Mrs Reeves.

A sound strategy for the future for The Venture finalists looking to enter global markets – no doubt, advice that will be considered by all the 27 finalists in the competition.

Winning the lion’s share of the US$ 1 000 000 prize will undoubtedly go a long way in helping the fledgling SMEs achieve global success, but maintaining and developing that growth rests on the skills and continued hard work of the founders.

“To ensure future sustainability and growth, all business owners need to be able to recognise valuable opportunities when they come their way, and have the knowledge and skills to exploit them to full advantage,” concludes Mrs Reeves.

Chivas are looking for exceptional start-ups that use business innovatively to transform communities and solve global challenges. Whatever it is, if it's brilliant and can create real, positive change then Chivas want to hear from you.

Company Posts

How Your Devices Can Improve Your Business Travel

Dawn Weir, head of kulula work and a veteran business traveller, offers these tech-savvy tips for road-warriors.

Kulula Work

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Technology has made business communication and business travel easier than ever, but it’s still possible to have a minor disaster involving your indispensable devices. Dawn Weir, head of kulula work and a veteran business traveller, offers these tech-savvy tips for road-warriors.

Stay on track

Activity trackers can help you stick to your fitness regime by recording step-counts, distances covered, sleep and nutrition. If you don’t fancy wearing one that looks like it’s from the flight-deck of the starship USS Enterprise, others are available which clip onto your ankle or clothing. Many are water-resistant and rugged, but if you prefer to not buy-one, apps like Samsung Health will record and analyse your daily activity.

Related: Kulula Work Brings You The Cheapest Flights Of The Day For Your Business Travel

Power naps

A few bad nights’ sleep while travelling can leave one feeling unfocused and tetchy. Some of us sleep better in hotel-rooms than others, and some can be downright noisy. You can try using earbuds, but we don’t all like having wads of foam stuck into our skulls when trying to slip into the arms of Morpheus. One alternative is to load a white-noise generator on one of your devices. A site like www.mynoise.net has hundreds of soothing sounds, including waves, rain, crackling fireplaces, trickling streams and even Tibetan monasteries.

It might not drown out the sound of the guys returning to the hotel from their “team-building dinner” at 2am, but it’ll help to smooth out the noise of traffic and air-conditioning.

Cancel the chatter and clatter

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Many business-travellers now swear by noise-cancelling headphones, which block out distractions and racket and can subtly let fellow travelers know that you’d prefer to not engage in lively conversation. Researchers disagree on the effectiveness of binaural beats for everything from creativity to concentration, but many students, academics and entrepreneurs find that they help with focus the mind.

Stay juiced

Most mobile devices have decent battery-life nowadays, but the size and brightness of their screens and the plethora of apps running on them can drain that very quickly. Save your battery by switching off anything you don’t need: BlueTooth, location, mobile data and so on, as well as apps you’re not using. Switching your phone to Flight mode will also save battery power. Travellers increasingly user power-banks to boost battery-life, but Weir suggests reading users’ product reviews before buying one, as some are far more efficient than others.

Related: Flying High With Reliable Travel Partners CANCOM And Kulula

Back up and go

Save your important documents – scans of your passport if you’re travelling internationally – as well as hotel reservations and travel itineraries, and take pictures and screenshots of them on your phone. That all-important PowerPoint presentation? Use a file-hosting service like Dropbox to put it in the cloud so you can access it wherever you need to.

Declutter

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If you’re a regular business traveller make a point of emptying all your luggage every few weeks. You’ll probably find you’ve accumulated flash-drives, USB adaptors and stationery and other stuff that takes up space and adds weight.

Downsize

Everyone from business travelers to backpackers loves the portability of laptops, but while they’re lighter than ever, those with bigger screens can be bulky. One option is to travel with a tablet, which offers the efficiency of a laptop while taking up less space. If you need to do a lot of inputting while you’re on the road, get a flexible keyboard that can be rolled up until need, or pair your tablet or smartphone with a laser projection keyboard. It’s a clever gizmo that projects a full-sized QWERTY keyboard onto any flat surface, allowing you to type pretty much anywhere.

Related: How To Take The Hassle Out Of Business Travel With Kulula Work

Converge

We’ve all seen the infographics showing how smartphones combine all the devices we once owned separately, like cameras, DVD- and CD-players, and that innovation continues. The Belkin Travel Rockstar combines a battery pack, surge protector and charger. It has three plug-ports (you may need an adaptor, depending on which plug configuration you use) and two USB ports.

Still not high-tech enough? Try Pluggage, a smart suitcase produced by luggage brand www.delsey.com that has its own app. It’s available in three sizes and its features include fingerprint ID to lock and unlock it (you can also lock and unlock it using the app), interior lighting and speakers. It weighs itself, has integrated USB chargers for your devices, and GPS tracking notifies you when it’s on a luggage carousel at the airport or being loaded onto or off a flight.

To make your business travel that much easier and to find out more about kulula work call +27 (0)11 285 3050, email sales@kulula.com or visit www.kulula.com/work.

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Accounting & Payroll

Technology In Accounting – Race For Relevance

Change is not just coming, it’s already here and the rate of change is growing exponentially.

ACCA

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Change is not just coming, it’s already here and the rate of change is growing exponentially. The recent research from ACCA around the race for relevance talks of six key technologies (Analytics, Artificial intelligence, Cloud computing, Cyber, Social and Robotic process automation), likely to present opportunities that challenge our traditional ways of working to all businesses, including SMEs – as well as their finance function.

The report explains that whatever the size of the business, technology change is having an impact.

It is imperative for SMEs to understand these technologies and start to, at least, plan. Failure to capture opportunities runs the risk of businesses being marginalised.

Technological advances provide finance functions with significant opportunities to play a valued role in maximising the organisation’s strategic ambitions and in how it is evolving. Not of all the key technologies may be relevant to all immediately, however, understanding which of them apply and can deliver value, is important.

Related: Want To Know Your Numbers? 3 ACCA Accounting Online Courses Your Can Take For Free

In this corporate race for future relevance, recognising the opportunity is essential.  Organisations are in a race to remain relevant to their customers and communities. Adapting and embracing technological changes in business is critical. Companies who leverage new technology well are going to win big in business. If CFO’s are to remain in decision making roles the need to understand the importance of data analytics is crucial. Businesses need forward thinking CFO’s who:

  • understand how to use the information available to them to provide strategic insight in real time;
  • capture, measure, report and predict future performance in a much more agile manner to support better and quicker decision making;
  • ensure they have in place effective and efficient processes that satisfy the overall business requirements of finance.

This is not to say that there is one approach. No single model fits all finance teams but there is an overall direction of travel. However, its not enough to become more efficient, but finance function must assist businesses to make decisions based on the right data. To achieve the goal of transforming the finance function, the CFO needs an understanding of the emerging technologies and the opportunities available. The CFO must ensure that there is sufficient governance of the data sources, be these internal or externally generated, to provide insights based upon ‘one version of the truth’.

Related: 4 Accounting Online Learning Courses From ACCA You Can Take For Free

In realising the finance technology strategy, it should be remembered that this is often a partnership between the Information Technology (IT) team and the finance function. As business partnering has affected the relationship between finance and its customers so the same process can be replicated in the relationship between finance and IT.

By 2020, organisations are expected to gain $1.2 trillion in business from their slower-to-adapt peers. How do you, as the accounting professional, influence this today? How do you work with IT to thrive in this age of change?

 

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Company Posts

Register A Company In South Africa

With over 120 Start-up Services, Company Partners is the perfect Partner for Company, Tender and Contract compliance.

Company Partners

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Company Partners is the leading Company Registration Service Provider in South Africa, offering a One-Stop-Shop for all the Company Registration and Tender Compliance Documents.

With over 120 Start-up Services, Company Partners is the perfect Partner for Company, Tender and Contract compliance.

Established in 2006, Company Partners guarantees that the services they offer meet the standards of the best in the industry. Over 30 full-time Consultants offer services and standards of the highest quality.

Company Registration Benefits

Your Company Structure is the first consideration you need to make when you want to register a new Company at the CIPC. The preferred choice of a legal entity for most Businesses is a Pty Company.

Related: Business Model Design – Picking The Business Model That Works For You

Here’s why:

  1. You protect your personal life and assets from your business when you register a company. If one runs a business, it is necessary to operate in a safe legal structure where your business assets and risks are separated from your personal ones.
  2. You look more professional when you operate under a registered company name. If you want to obtain a large contract or a tender, it appears more professional to trade in a Pty Company capacity than in your own name.
  3. Most Suppliers and Government Departments require businesses to be registered as a Company to apply for their Tenders and Contracts.

How to Register a Company

Step 1: Complete and submit the easy online sign-up form here.

Step 2: Your dedicated Consultant will call you to assist you with any questions you may have.

Step 3: Email your ID and easy supported documents – which your Consultant will explain.

Step 4: Within a few days you will receive your brand new Company ready to use for Tenders and Contracts, via email. You can contact your Consultant at any time on a toll-free number.

Related: New Fund For Small Businesses To Be Developed

Need a Company fast? Perhaps consider a Shelf Company

Company Partners offer a variety of Shelf Company Options to suit your needs, including 2016- year Registration Number Shelf Companies. Within 24 hours after purchase, you will receive the registered Shelf Company.

You can start using your Company Registration Number and Bank Account (for income) immediately.

Each Shelf Company includes a 2016 Year Registration Number, Free Share Certificates, a Free ‘Tax Number’ and a Free ‘Official BEE Affidavit’.

You can also make use of a Nedbank Business Bank Account that’s active for your Shelf Company.

Luckily, getting your own Shelf Company is easy in terms of compliance. All that’s required is that you are at least 18 years of age, an ID document / Passport and a South African Business Address.

Why use Company Partners to Register a Company?

Fast timeframes: Your Company will be registered fast and effectively online. Your documentation is set-up in less than 24 hours, after which CIPC will process it.

Simple requirements: The only requirement for Company Registration is an ID / Passport. Everything gets done online, so you can be based anywhere in South Africa or the World.

Dedicated Consultant: Your own dedicated professional Consultant takes care of the entire process – he or she is available on his / her email and also on a toll-free number.

Professional Service: With years of experience of representing our Clients in Government, the entire process runs smoothly over the Internet. No lost documents and no frustration.

Company Partners completes all necessary applications correctly and reviews all the paperwork for you. You simply have to wait for your company documents via e-mail, confirming when you may start trading using your registration detail.

Related: Beauty Of Failure: The Art Of Embracing Rejection

After Company Registration

Any new Business needs guidance to prepare for Tenders and Contracts. After Company Partners gets you registered for your Company, Company Partners can assist you through the entire Company start-up process (optional).

That means they will ensure you have everything you need for a Tender or Contract application like a new PTY Company, BEE, Tax Clearance, VAT Registration, Logo Design, Website, Business Plan, COID, Letter of Good Standing, NHBRC, Accounting, Payroll and more.

Get Started

To start, just complete and submit the easy application form here and a friendly Consultant will contact you. Alternatively contact Company Partners toll-free on 0800 007 269 (toll-free from landlines and cell phones).

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