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Start-up Advice

Think Big, Start Small

Having a dream is one thing, actually executing it is another. Don’t be afraid to think big, but start small.

Miles Khubeka

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For as long as I can remember, my mother always said to me: “Don’t be an ‘also-ran’ in life. If 5 000 people run a marathon, 4 999 of them just serve to legitimise the winner. Go out and change the world.”

I remember thinking to myself: Lay off me, woman. I’m only three years old!

But this sense of purpose has led me to achieve dreams that other people may have shared but never pursued or managed to make real. A dream is what inspires you to change the world.

It is what gives your life meaning and existence. But dreaming is one thing; at some point you need to wake up and do. There are a lot of people who live in dream state. A state of ‘one day I will…’

Related: 8 Vital Training Steps For ‘Treps, Pre-Launch

The time is now

The right time is now. There will always be a thousand reasons why you can’t start your business right away. The truth is, these are just excuses – the real reason is fear of failure. What I found helps me get around the paralysis and fear is breaking down any task into small bite-size chunks.

Even the longest journey begins with a single step.

The first step is articulating your dream in simple terms. What do you want to achieve in your life? The second step is finding a business idea that is consistent with your life’s ambition and dream?

Everyone has an idea that they would like to execute. It doesn’t mean that every idea is a good one, but finding your unique idea is definitely a good start.

Forget about capital

You do not need capital to execute your idea, but you need a will to execute. It is often much easier to convert an idea into a product than you think. Think big, but ‘do’ small. When I started my business, it cost R600 to set up a grill at the local farmers’ market. That’s all it took.

All you need is a good product and a market to sell your product to. To be honest, many of my early products were okay but definitely not great. However, because I was at the market every weekend, I could see which of the products were performing well, and which needed work.

More importantly, because people were buying what I was selling, I knew there was demand for what I was selling.

Related: How To Overcome 5 Excuses That Kill Entrepreneurship

So here are some quick takeaways:

  • Running a businesses is damn hard, and if your business is not congruent with your life’s dream, you will quit. This is the reason I believe there is such a high failure rate in small businesses.
  • Wake up and do.
  • Everyone has an idea, don’t be paralysed by fear.
  • Dream big, but start small.
  • You don’t need capital, you need to be resourceful with what you have.
  • Don’t overthink it, just do it.

Miles Kubheka is a trailblazing public speaker, Vuyopreneur and gastronomist. He is the founder, owner, and believer behind the renowned Vuyo’s brand.

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How The Black Umbrellas Programme Can Boost Your Local Black Business

Going it alone and succeeding isn’t unheard of in entrepreneurial circles – but getting the right backing can accelerate your success. South African SMEs have a ‘big brother’ in Black Umbrellas, explains CEO Seapei Mafoyane.

Shanduka Black Umbrellas

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Going it alone and succeeding isn’t unheard of in entrepreneurial circles – but getting the right backing can accelerate your success. South African SMEs have a ‘big brother’ in Black Umbrellas, explains CEO Seapei Mafoyane.

The networks that the programme has are extensive. Along with mentorship, when these building blocks come together, they do something really majestic for the outlook of SMEs.

The Challenge

“The perception of SMEs in corporate South Africa is that they’re risky, unreliable and incompetent,” says Seapei. This results in a lack of opportunities for SMEs because large corporates still view them as potentially risky.

Related: 10 SA Entrepreneurs Who Built Their Businesses From Nothing

Joining Black Umbrellas offers the following:

1. Cameraderie

Belonging to a group of people who are going through the same challenges that they are. I think it’s extremely encouraging to find people who understand the challenges in the environment you’re going through.

2. Entrepreneurial spirit

You find businesses in different sectors and at different maturity levels in their business lifecycle. It’s very encouraging for someone starting out in their business to find a more mature business, perhaps in their second or third year, that has banked some projects.

3. Relying on a big brother

Black Umbrellas has been able to build a brand that is recognised for understanding the needs of corporate South Africa and being able to empathise with the requirements and support structures of SMEs. What entrepreneurs look for in the programme is that big brother that helps them weather the storm.

The Solution

“In a market where there’s quite a visceral relationship between corporate South Africa — where the majority of markets are — and smaller, medium enterprises trying to locate those opportunities, Black Umbrellas really is a meeting place,” says Seapei.

“We provide a marketplace for corporate buyers and SMEs to come together in an environment that is trusted. Some of the opportunities our businesses are able to access would not have been accessible to them if they were flying solo.”

SMEs abound, but it’s not always easy for larger corporations to find, vet and mentor them.

SMEs that join the Black Umbrellas programme have reported reaching levels they never saw themselves achieving outside of the programme.

“It sounds overly-simplistic, but I think the change is tremendous when SMEs join Black Umbrellas,” says Seapei. “It’s quite a thing to watch: A business trying to do this on their own and how their outcomes change when they join the programme.” Black Umbrellas opens them up to a network of help that is as wide as it is deep.

Related: Attention Black Entrepreneurs: Start-Up Funding From Government Grants & Funds

partnershipThe Power of Partnership

“We’d never be able to do anything we do without relying on collaboration,” emphasizes Seapei. “We rely very heavily on corporate partnerships to avail those opportunities to us and those markets for SMEs to be able to do what they do.”

Black Umbrellas has an extensive network of funders and donors that is expanding continuously and prides itself on being the custodian of SME development in South Africa. She says the programme aims to ensure high-impact SMEs produce incredible results to turn the outlook of the economy around.

One of Black Umbrellas’ longest-standing partnerships is with Transnet:

  • Transnet understands the mandate set out by Black Umbrellas and the need to invest in entrepreneurs.
  • We’re able to support their supply chain through the development of these dynamic businesses that go on to transform their supply chain and respective communities
  • Transnet has an incredible impact on the economy — through just two small incubators in Richard’s Bay and Port Elizabeth, with almost 500 jobs, which is a huge social return on investment.

BECOME A BLACK UMBRELLAS SME

Black Umbrellas’ mandate

Many start-ups don’t make it beyond the first two years because of inadequate planning, lack of support, financial or knowledge resources. Yet the growth of the SME sector in South Africa is vital for economic development of our country and in solving the unemployment crisis.

Black Umbrellas offers a platform through which to develop a business from its start-up phase to full independence. Because the programme addresses the multidimensional components required to develop an emerging business into a sustainable one, entrepreneurs are 100% supported on their business journey, which gives them the leverage to succeed. This support includes access to markets, networks and finance.

Programme benefits

Emerging businesses are supported with infrastructure, mentorship and collaboration, to assist their transition from incubation to viable, independent businesses.

For committed, hardworking and dedicated entrepreneurs, this multi-tiered business support programme is an important catalyst in enterprise development.

Related: 10 Dynamic Black Entrepreneurs

Black Umbrellas’ contribution to the economy

  • In seven years 1 000 SMEs have achieved a collective turnover of over R2 billion
  • The programme has contributed a combined R118 million in taxes back to the fiscus
  • Over 10 000 jobs have been created through our SMEs
  • R436 million in salaries has been contributed as a result of the programme.

Mistakes to avoid when establishing your SME within a large supply chain

Focus on a specific area where you can add real value. You’ll never be able to maximise every opportunity by trying to be all things to all people, says Seapei. “As an SME you want to find a particular niche that you can fill successfully, thereby maximising your unique value proposition.” 

Who should apply?

  • Entrepreneurs with a business enterprise at its start-up phase
  • The business should be registered with the Companies & Intellectual Property Commission (CIPC), and for small business tax
  • You must have the passion to succeed and be willing to work to achieve your business goals
  • You must be South African and black according to the BEE definition.

The 2017 National Enterprise Development Awards

Top performing small and medium enterprises have been recognised at the Black Umbrellas National Development Awards. Black Umbrellas established the National Enterprise Development Awards (NEDA) in recognition of the achievements of the entrepreneurs in their business incubation programme. These awards highlight the hard work and dedication required to establish and sustain a successful business that creates jobs and contributes to the economy.

The finalists were selected from regional enterprise development awards ceremonies held at each of the Black Umbrellas incubators across the country. The businesses in the incubators have altogether created and preserved over 10 000 jobs across key economic sectors, which include mining, construction, engineering, security services and project management.

Overall winners were:

  • Most Jobs Created: Hula Minerals and Processing
  • Best Performing Company: Aquila Projects (PTY) LTD
  • Best BU Ambassador: Recycle 1st
  • Overall National Winner: Modi Mining
  • Incubator of the Year: Johannesburg incubator
  • People’s Choice Award Winner: Recycle 1st

Seven Years  1 000 SMEs R2 billion collective turnover

  • Contributed a combined R118 million in taxes back to the fiscus
  • Created more than 10 000 jobs
  • Contributed R436 million in salaries
  • Expect more from your ESD Investment.

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Start-up Advice

The Business Of Anxiety In Business: Giving Heroes Permission To Feel Vulnerable

Lesley Williams, Helen During and Marc Feitelberg have all built successful businesses from the ground up. They have also all experienced anxiety and depression along the way. Many entrepreneurs would relate to their stories. But the stigma attached to mental illness has prevented many from speaking out. Is it time for mental health issues to come out of the closet?

Sarah-Anne Alman

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Entrepreneurs need a bit of crazy

Lesley Williams is Chief Executive Officer of Tshimologong Digital Precinct in Johannesburg. She had initiated various ventures over the years, including the first Impact Hub in Africa. In 2015, Lesley came to a grinding halt. Her business partner absconded, the business was in flux, her health failed, her social infrastructure dried up and a bus smashed into her car. The individual events caused a perfect storm, triggering burnout and depression. It took five months of soul-searching, counselling and crying before she gradually began to rebuild her life.

“Entrepreneurs sign up for a lifestyle that requires a bit of crazy,” she says.

“We get so caught up in the obsessive task of building our business, taking responsibility for the livelihoods of others. When you play at this level, you’re constantly telling others how awesome you are – you’re the hero in the organisation.” But ultimately, she says, every entrepreneur has the same level of human vulnerability.

Related: Deepak Chopra’s 7 Ways To Reduce Stress And Anxiety

What goes up must come down

Integral coach and facilitator Helen During relates to this. Her aromatherapy business was a nine-year overnight success, selling products around the world. “As an entrepreneur you’re driven by a pulse. There’s nothing to stop you, despite the pressure of turning a profit without a cash flow.” In During’s case that pulse manifested physically. “I was so driven, but I would wake up with heart palpitations and fibrillations.” During sold the business when she realised just how much her health was compromised.

Anxiety, she says, is a consequence of a rapidly changing, volatile, uncertain, complex and ambiguous world. “Uncertainty can cause anxiety. For entrepreneurs, our success is defined by our results and our results are defined by our actions. Anxiety is a gentle nudge – a reminder to stop and reflect,” says During.

In the rush of achieving success, she explains, “it’s important to create places of reflection and physical places of nourishment. This is valuable time for strategic planning that will bring about greater certainty and longevity in the business. That’s how you build resilience.”

The trap of the whiz-kid

Williams also talks about resilience as a key component, but with a tone of caution: “Entrepreneurship is a respected club, but it’s also a very isolated existence. All eyes are on you, because what you’re doing is not the norm. A pioneering entrepreneur’s success can be very public. But when the business hits a rocky path it can be difficult to admit to vulnerability or failure. Instead, those feelings are supressed. Some might interpret that as resilience, but I don’t think it’s healthy. I call it the trap of the whiz-kid.”

“The question is, is the individual resilient enough to withstand obstacles? Symptoms of depression and anxiety manifest when resilience is absent,” says Marc Feitelberg, psychologist and founder of the South African College of Applied Psychology (SACAP). He has first-hand experience of dealing with obstacles. Battles on several fronts threatened to destroy his dream of establishing a psychology school, sapping him of all internal and financial resources. But, he says, he was driven by a deep conviction and belief in his vision for the business.

Related: 12 Apps To Help Ease Anxiety

How are you serving your why?

answering-why

“Entrepreneurship is a risky business. You’re stepping out of your comfort zone, so it’s important to know what are the best conditions to help you achieve your goals.” Feitelberg suggests that internal and external conditions play a part in helping entrepreneurs find the equilibrium to support their appetite for risk.

External conditions relate to the ability to meet financial requirements. Internal conditions, he explains, are the entrepreneur’s mental state. “Depression arises when people aren’t doing what they love – irrespective of whether they’re a corporate employee or an entrepreneur,” says Feitelberg.

During agrees: “It’s so important to know why you’re doing what you’re doing. How are you serving and sustaining that ‘why’?”

Symptoms of depression and anxiety range from lack of sleep to anger outbursts, eating disorders and addictive behaviours. “Depression is not the enemy,” says Feitelberg, “it’s a signal. The trick is to understand what the signal is for. What is triggering the depression?” While the mix of symptoms and triggers differ between individuals, there is a commonality: “Often the individual recognises a need to integrate planned or recent changes into their life, or they are overwhelmed by unexpected changes.” When this happens, it’s important to acknowledge the vulnerability and ask for help from trusted supporters, says Feitelberg.

Exposing the elephants in the room

Many entrepreneurs find that difficult, however. Williams say that “the narrative around depression and anxiety needs to change – they’re the elephants in the room.”

Feitelberg refers to the shame associated with mental health issues. “Society has imposed a culture that requires individuals to manage their emotional issues on their own,” he says.

“Admitting the business is in trouble heightens anxiety because of the sense of shame attached to it. The truth is that it’s okay to be honest about failure or vulnerability; to own the emotion,” adds Williams.

That said, Feitelberg suggests that mental health is becoming less of a taboo subject. He refers to the plethora of articles, podcasts, books and videos that populate mainstream business content. This makes it easier for individuals to see that they are not alone in feeling what they feel and to ask for help.

Related: 4 Stress-Management Tips For Reducing Anxiety And Getting More Done

How can incubators help?

Individual networks and the broader entrepreneurial ecosystem can help too. Incubators, for example, have a role to play in recognising that entrepreneurs are, ultimately, human beings.

“Incubators need to be very intentional in their belief and support,” says Williams. At the same time, she says, it’s also important to establish supportive models that can facilitate exit strategies when required. “Don’t provide oxygen when it’s clear that the business model won’t succeed.” says Williams.

Programming is important too. Events that facilitate interactions beyond the business model or pitching can bring more interpersonal support into the incubator environment.

You are your business

During concludes with a note about self-care through good nutrition, exercise and taking time out for thinking, reflection and planning. “Look at the bigger picture: you are your business. You need to invest in yourself to create the right balance that will sustain the possibilities for it to succeed.”

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Start-up Advice

The Main Ingredients To Help A Start-up Business Thrive

Follow my five do’s and don’ts below to get your business off the ground and soaring.

Shai Evian

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As the New Year edges closer and aspiring entrepreneurs prepare to put shoulder to the wheel to start their own businesses; the business need-to-knows are imperative, especially for start-ups, and who better to provide these than successful South African entrepreneurs?

As the CEO of Howler, an event-technology platform that consolidates event planning, management and financial control, and pioneered cashless and ticketing concepts at events in South Africa, I have definitely experienced a few ups and downs with forming and creating my brand.

Related: Where Should You Begin?

Putting a long time business idea into practice is the most difficult and nerve wrecking part of the process. But once that hurdle has been crossed and determination to succeed kicks-in, there’s no stopping an aspiring entrepreneur.

A few of the most important aspects of starting a new business is on-going research, dedication and hard work. You just need to take the leap, the journey is most rewarding, that I can assure you.

In fact, starting a business is exhilarating. But taking that step is the most difficult part, any businessman or woman will tell you that. Always remember – you won’t know what the result will be till you try it for yourself. You should not be afraid of failure, there will be times when it will happen, so just take the plunge. You will be pleased with the results!

When creating a start-up, there are basic considerations to ensure success, follow my five do’s and don’ts below to get your business off the ground and soaring.

The dos:

  1. A proper due diligence of your partners
  2. Experienced staff – it pays massively
  3. Legal advice early on
  4. Get your house in order – books and finances are top priority, especially for investors
  5. Take risks like your life depends on it

The don’ts:

  1. Be afraid to fail, it’s part of the business journey and it happens
  2. Do it alone, partner with competent people
  3. Make promises you can’t keep, your reputation is everything
  4. Lose focus and get side-tracked, always remember why you started
  5. Give away too much equity, you’re going to need it when raising capital

Related: 4 Things Your Start-Up Needs When It Opens An Office

It all comes down to these ten simple guidelines. I stuck to them and they’ve helped me immensely in my business. One last thing, in the middle of it all, when things are going well, don’t forget to do business with respect and integrity. You never know who is around the corner!

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