Connect with us

Company Posts

If You Want Scale, Fail Fast And Learn Quickly

Mindset, focus and an understanding of scale are essential if you want to build a highly profitable, growing business.

Matt Brown

Published

on

tom-asacker

“The secret to scaling a business is increasing revenues without incurring a corresponding increase in operating costs,” says Tom Asacker, author of The Business of Belief, Opportunity Screams, A Little Less Conversation and A Clear Eye for Branding, all groundbreaking books that redefine business and communication for the new age of abundance. “The single most important challenge is to have a deep understanding of your value creation and customer attraction and retention process, as well as how the company will ultimately make money over time through the unique realisation of that process.”

According to Howard Sackstein, founder of Saicom Voice Services, scale used to be measured by the number of people you employed or the number of branches you opened. “Today, these questions have become irrelevant,” he says.

howard-sackstein“When Whatsapp was sold for $19 billion the business had only 55 employees servicing 450 million users who were sending 34 billion messages a day – that’s a tiny company with enormous scale. So, today scale has come to mean something very different. In the new economy, scale is about scalable technology, how do we build software and apps that can cater for a billion users? The ideas of lots of employees and lots of offices has become old fashioned.”

The problem is that scale comes with costs and that’s why money is often the enemy of entrepreneurship. “Many of the great businesses of the new economy all began in garages, a small group of people, each with real skills each trying to bootstrap an idea to see if it worked,” continues Howard.

Related: Do You Have That 1 In 100 Business That Can Scale And Land An Investor?

“Often people go looking for funding; there’s a problem there too though – they scale too fast once they receive the cash and ultimately they fail because they have too much money. Entrepreneurs need to start small and if they fail they must fail fast. They need to test the market and grow incrementally to prove their idea. Once the idea has achieved a degree of adoption and has ‘crossed the chasm’ of technology adoption, only then can you start thinking of scale. And today scale means few costs, few employees, and tech that can scale to a mass market.”

Your Mindset is Everything

Your mindset while scaling is critical. “Value creation, customer attraction and your retention process are the result of every decision you make as an entrepreneur,” says Tom. “Your mindset shapes how you make these decisions.

“Every rand spent should be to add value in the eyes of the customer, or to improve the process that delivers that value, through automation, distribution, channel partners and so on.

“If businesses aren’t hyper-focused on adding value and deepening relationships with customers, someone will come along who will. If that happens, whether or not that process produces rapid growth is beside the point.”

Howard believes that follow-through is also essential. “So many people really want to build empires,” he says. “But how do you measure your success? Is it the number of employees you have, the number of companies, your disruptive influence on the market, revenue or actual profitability?

“You really need to decide this up front and that will affect your strategy. I probably have an old school mentality, but for me profit is everything. I don’t really understand the idea of focusing on scale with no business model in the hope that on an exit someone will find value. I know that’s a common idea in the tech world and you could get lucky by following it, but I think there are few people with that degree of luck – build for profit and sustainability, build as lean as possible and keep your eye on the actual ball.”

Related: What’s Stopping Your Business From Growing?

Company Posts

How To Immigrate With Your Family By Starting A Business In The UK

The simple way to make your entrepreneurial dreams come true in the UK.

Sable International

Published

on

moving overseas

Many people, especially those with families, are reluctant to up sticks and move to the UK. These would-be movers are often worried that they will not be able to secure employment in the hugely competitive UK job market. This source of stress alone is enough to discourage some from pursuing their dreams of living in the UK. But, there is an innovative and accessible solution.

The UK has several visa classes aimed at individuals who wish to invest in the country. These give an individual the right to live and work in the UK with their families, if they make a defined investment. A visa that interests South Africans is the Tier 1 (Entrepreneur) visa. We have developed our UK Tier 1 Entrepreneur Investment Programme to help South Africans looking to immigrate to the UK alone, or with their families.

The basics of the Tier 1 (Entrepreneur) visa

To be awarded a Tier 1 (Entrepreneur) visa, you will need to invest at least R3,5 million (£200,000) in an existing UK business or one you start up. There are certain other requirements, but these are not particularly onerous, and most investors will qualify if they submit their application correctly.

The entrepreneur visa allows you to live and work in the UK, and take dependant family members with you, defined as your partner and your child under 18. If you have the capital, or are willing to liquidate your assets in South Africa to raise it, the Tier 1 (Entrepreneur) visa is a great way to relocate your entire family to the UK.

Do note: You will need to make specific applications for each dependant, so it is vital you consult with an immigration expert before beginning the application process.

You’re not just immigrating, you’re investing in the UK

By starting or investing in a UK business as part of our programme, you will be granted the right to live and work in the UK, and earn an income from that business.

Related: Want To Start An Import Business – Here Are The Importing Terms And Documents Involved

The business you invest in will want you to play an active role, not just contribute seed capital. If you want to invest in a business without being an active director you will be allowed to do so, but you may not be eligible for the Tier 1 (Entrepreneur) visa.

Another restriction is that you cannot hold this visa and work for a business other than the one you are invested in. But, your partner will be allowed to work in whatever field he or she pleases.

How do you choose the right business to invest in?

There is always an element of risk when investing in a foreign business, particularly when you’re thirteen thousand kilometres away from the country you’re investing in. It’s important to understand exactly what you’re investing in before you take the plunge.

That’s why our UK Tier 1 Entrepreneur Investment Programme is hugely beneficial. It matches your investment capital with a pre-approved investee business. We’ll make sure that your skills are matched with an appropriate venture so you can be an active director of that business.

We’ll also handle your visa applications, providing you with a comprehensive immigration and investment solution. Our partner’s list of investee businesses is over 200 strong, giving you an array of choices in various industries. This allows us to pair you with the business that best suits your investment goals and skills.

But what if you have a successful business in South Africa?

It’s no secret — emigrating from South Africa is difficult for many families who have deep roots and thriving operations. There’s no reason why you can’t keep your business in South Africa as well as relocate to the UK.

Nothing restricts a Tier 1 (Entrepreneur) visa holder from owning and overseeing businesses in other countries while they are on this visa. Many clients choose to relocate to the UK while ensuring that their original business continues to operate. In this way, you will be supplementing the income from your UK investment with revenue generated by your South African business.

You can hold British and South African passports if you apply for your British citizenship in the correct manner. You must obtain permission from Home Affairs in South Africa to avoid having your citizenship revoked. Retaining your South African citizenship will make it much easier for you to continue running a business here.

Talk to us today

There are compelling reasons to move to the UK — a brighter future for your children and a more stable country in which to retire. Our comprehensive solution will ensure you get the most out of your relocation.

Visit www.sableinternational.com/entrepreneur or send us a mail on ukinvest@sableinternational.com 

If you’re thinking of immigrating to the UK or investing offshore — either or both — we can help.

Continue Reading

Company Posts

(Video) TomTom Telematics – Let’s Drive Business (UK)

TomTom Telematics

Published

on

tom-tom-telematics
WEBFLEET provides you with the right information at the right time to make smart decisions and achieve your goals: Lowering cost, reducing time on the road, supporting drivers and delighting customers. Running a business can be hard. So let’s make it easier. Request a demo and find out more at telematics.tomtom.com/webfleet/landingpages/launching-the-new-webfleet.

Continue Reading

Company Posts

Making The Case For FTTH With BDCOM

Successfully making the case for FTTH with BDCOM, Miro offers tangible solutions when deploying last-mile fibre connectivity through cost effective PON technology.

MiRO

Published

on

By

bdcom-miro-south-africa

As a service provider, deploying a fibre network may seem daunting, expensive and unappealing; this stems from the capital expenditure required, as well as the added risk of the civil work needed during application. With the gaining popularity of fibre amongst various sectors; from service providers, to the end-users who demand high-speed internet, the demand for fibre is only gaining continuous traction; from the rising use of video-streaming platforms, to the ever-stable demand for reliable connectivity solutions, both for business and home use.

Given these facts, as well as the lingering hesitancy of expanding with fibre, the possibilities of this much desired optical connectivity can be realised through PON. Passive Optical Networks are currently transforming the face of last-mile fibre deployments. A world where sending data happens at the speed of light is now tangible at a tenth of the cost with PON. All the advantages which arise from optical fibre are now available in a cost-effective solution.

The demand for cost-effective, last-mile fibre solutions are also increasing due to the high bandwidth requirements of households and businesses; the large expenditure on active equipment and the on-going challenges of delivering high-capacity internet in densely populated areas are only some of the existing concerns. These, amongst other challenges faced by service providers, are accelerating the interest in deploying fibre optic networks to provide higher bandwidth delivery, reliability and lower latency levels.

The hesitancy of deploying fibre within a service offering stems from the myth that a fibre roll-out, especially in last-mile applications, can be a great expenditure in terms of infrastructure and operating costs. This myth can now be proven false with our FTTx solution from BDCOM.

The solutions available with PON (Passive Optical Networks) have been proven to reduce installation cost by up to 70% with the use of simple reflective devices, known as splitters.

applications-of-bdcoms-fibre-solutions

Related: Embracing Technology For Business

PON, completely negates the need for active equipment (such as switches, boosters etc.) because it allows the light, to be reflected towards the intended receiver (ONU) which then talks back to the light source (OLT) which is situated by the POP (Point of Presence). PON take up less physical space and consume less energy than traditional Ethernet because of the reduced number of active equipment. PON deployment costs up to 50% less than Ethernet, this includes components, labour as well as materials. The requirements for cooling are also less than with Ethernet, offering the client a saving on their utility costs.

Furthermore, fibre optic cables have a lifespan of up to 50 years as opposed to the 15 year lifespan of Ethernet copper. By analysing these facts, PON technology is arguably the only cost-effective solution to a fibre roll-out because of the major decrease in deployment and maintenance cost; therefore, there is also no surprise as to why it has become increasingly embraced by hospitals, government agencies and universities, amongst other industries.

bdcom-miro-south-africa_smallFor more information on the best last-mile PON solution for your fibre application, please do not hesitate to contact our experienced sales team; introducing you to the possibility of FTTx, together.

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

Entrepreneur-Newsletters
*
We respect your privacy. 
* indicates required.
Advertisement

Trending