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Are You The 2017 ELLE BOSS?

Are you the next #VeuveClicquotELLEBOSS?

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If you’re an aspiring South African businesswoman, or know someone who is, the 2017 Veuve Clicquot ELLE Boss Award in association with Old Mutual is now open. Showcasing entrepreneurial spirit, leadership, creativity and determination, the search is on for one woman who is redefining the world of business one decision at a time. So, are you the next #VeuveClicquotELLEBOSS?

What makes a #VeuveClicquotELLEBOSS?

khanyi-dhlomo-founder-and-ceo-of-ndalo-media

Khanyi Dhlomo, Founder and CEO of Ndalo Media

  • A natural leader in business
  • Entrepreneurial and creative
  • Business-minded and confident
  • Self-driven
  • Social media savvy
  • Risk-taker
  • Financially adept
  • Innovative.

Related: 5 Key Tactics That Helped Gill Bowen And Tim Hartzenberg Revitalise The Shooshoos Brand

She’s A star in business…

“The world is in perpetual motion, and we must invent things of tomorrow. One must go before others, be determined and exacting, and let your intelligence direct your life. Act with audacity,” – Madame Clicquot.

Why ELLE BOSS?

To empower, support and encourage female creativity and leadership, but also to highlight entrepreneurial spirit.

We want to recognise someone who has been in business for at least three years and is already showing success, and/or someone that possesses strong corporate managerial skills and a social conscience.

This award is not about funding an idea, but rather recognising inspiring businesswomen who have made a significant impact and providing a platform for them to connect, share and learn from each other.

How to enter?

Nomination Process

Women matching the criteria in the ENTREPRENEUR or CORPORATE category can either self nominate, with a mentor or manager seconding their application. Or they can be nominated, however they will need to consent to the nomination.

Nomination Criteria

Entrepreneur Category:

  1. Age: Not younger than 25 and not older than 45 years of age.
  2. Entrepreneurship: Founder/leader of a local business, driving force behind the success of the business. Displays a pioneering approach, business acumen, dynamism, innovation, audacity and tenacity.
  3. Financial Success: Sustained profitable growth and a healthy balance sheet with a minimum turnover of R1 million. The applicant must have been in business for a minimum of three years. She is the main shareholder of this business. Not for Profit organisations will be considered, however their justification on financial performance and development will be required. Fundamental measures of success are financial viability and year-on-year growth.
  4. Social Investment: The candidate must have a genuine commitment to responsible and sustainable business practices, such as environmental policies, employee benefits, workforce diversity and community schemes/relationships.
  5. Role Model: Mentoring, succession planning, pushing boundaries, ability to motivate others, relationship building with colleagues/employees, especially for other women.
  6. Involvement in business and industry: Profile and participation in the business sector they operate in and public profile.
  7. Awards or recognition as a significant achiever: The candidate must show that she has personal brand strength.

Corporate Category:

  1. Age: Not younger than 25 and not older than 45 years of age.
  2. The candidate must work for a company with a minimum turnover of R15 million per annum.
  3. Management experience: The candidate should have no less than three years in a senior position and the entry must confirm the candidate’s advancement in business to date and chronicle success as a manager to date. The candidate should display a pioneering approach, business acumen, dynamism, innovation, audacity and tenacity. She should also demonstrate leadership and team building skills.
  4. Role Model: The candidate will be assessed with regards to her contribution to mentoring, succession planning, pushing boundaries, and her ability to motivate others, relationship building with colleagues/employees and especially for other women.
  5. Social Leadership: Displays qualities of leading by example in any corporate CSI initiatives, public service.
  6. Involvement in business and industry: Profile and participation in the business sector they operate in and public profile.
  7. Will need to demonstrate the success of their brand business personality through awards or recognition as a significant achiever.

Note: Importantly, the candidate is not an employer, major shareholder or owner of a business.

Related: Meet The 40 Richest Self-Made Entrepreneurs On Earth

Why enter?

A Veuve Clicquot ELLE BOSS 2017 winner will be selected from all finalists from both the corporate and entrepreneurial categories.

She will be recognised at a bespoke event hosted by ELLE South Africa and Veuve Clicquot in Johannesburg on 9 November 2017.

In addition to the public recognition on the evening of the awards, the general press coverage, as well as features in ELLE South Africa (magazine and online /digital platforms), the winner will be flown to visit the prestigious Veuve Clicquot Maison and hosted by Veuve Clicquot in Reims, France, the home of Champagne. The trip will take place in 2018 and will include all flights, accommodation and a daily allowance.

The runner-up will receive a top-of-the-range smartphone and a special Veuve Clicquot Experience, including a private dinner for her and five guests, to relax and unwind, to savour the recognition of her meaningful achievement to date as a Woman in Business (Terms & Conditions apply).

Four further ELLE Boss runners-up will each receive a top-of-the-range smartphone and a Magnum bottle of Veuve Clicquot.

Finalists must fly themselves if they do not live in Johannesburg and be responsible for their own accommodation.

All finalists will be invited to attend the ELLE Boss Awards event on 9 November in Johannesburg.

Entries close on 29th September 2017

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Entrepreneur Today

The Sky Is The Limit For South Africa’s Top Women Achievers

High-powered women achievers from across the private and public sectors, academia and diplomatic spheres gathered for a charged two-day conference in Johannesburg this week to share experiences about empowerment, achievement and the role that women are destined to play in a competitive global environment.

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Several hundred women attended the 15th Annual Standard Bank Top Women Conference which, with the Top Women Awards, has become one of the premier events for women on the national calendar. The objective of the gathering at the Maslow Hotel on the 17th and 18th of October, was to showcase the achievements of South African women and reignite their passion as they have major roles to play in all arenas of endeavour, says Ethel Nyembe, head of Card Issuing at Standard Bank.

“The delegates to the Top Women Conference were inspired by speakers such as Yvonne Chaka Chaka, singer, songwriter and an entrepreneur in her own right; Phuti Mahanyele, executive chair of Sigma Capital, a black-owned investment group, and political and academic stalwart Geraldine Fraser-Moleketi, now Chancellor of Nelson Mandela University and other women who are playing leading roles in many of the nation’s listed blue-chip corporations.”

“The overall message is that women are playing a central role in growing all facets of our economy and are helping to build a future from which other women can benefit and, in turn, inspire others. Women, regardless of whether they are entertainment icons, professionals engaged in helping shape the minds of future generations, businesswomen or scientists are part of building a new global reality.”

Related: 13 Female Entrepreneurs Rising To The Top In SA

To inspire delegates about the breadth and depth of the future for women, the conference examined all facets of economic life from the impact that IT and scientific research is having on building businesses, through to the development of entrepreneurs and leadership skills. Insights were offered through the contributions of speakers and roundtable panel discussions in which leading women offered observations and advice gathered from their vast experience.

“Standard Bank is proud of the role it has played in enabling women achievers to reach their full potential within its ranks. The bank also recognises that women across society have a broad role to play in the future of South Africa. It is through support for events like the Top Women Awards and the Top Women Conference that this approach is made visible and tangible.”

“We expect this year’s conference deliberations to deliver insights and inspiration that will not only spur established women to new heights of achievement, but also stimulate young women starting new careers,” says Ms Nyembe.

More information on the Top Women Conference can be found at https://topwomen.co.za/ and it can be followed on the #SBTWConference conversation on Facebook and Twitter  

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Entrepreneur Today

The Ins And Outs Of A Good Exit Strategy

The thought of parting with a business you’ve grown from the ground up may be unsettling, but Gugu Mjadu, spokesperson for the 2018 Entrepreneur of the Year® competition sponsored by Sanlam and BUSINESS/PARTNERS, says that it is better for both your business and yourself to plan for this as early as possible.

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“The challenge that business owners often face in this respect is comparable to the difficulty that many new parents have with imagining their children grown up and leaving for university. Imagine, however, if parents did not plan ahead for the cost of their education – that would be detrimental to the future of their children. The same could be the case for your business.”

Mjadu says that a good exit strategy is about sustainability and being able to measure your business performance against the goals you have set for it. “It’s really about being able to say, ‘this is when the work is done and I can exit the business or take on a different role – this is what success looks like in terms of monetary return on investment and other business growth indicators’.

“The lack of an exit strategy could be telling of a fundamental lack of measurable business goals and this needs to be addressed,” she says.

From immediate liquidation to liquidation over time; family succession; selling to staff or external investors; the open market or another business; or the gruelling but profitable exercise of taking your company public – there are many different ways in which an entrepreneur can exit their business, but Mjadu says that whatever the process, a strong and solid strategy is essential.

She shares five key points of a good exit strategy:

1. It tells you when you are done

Mjadu says that a good exit strategy should reflect a core understanding of all the intricacies of your business and should be able to tell you when the lifecycle of your business (or of your involvement in the business) should come to an end. This is usually done by including a set of tangible measurables or objectives so that it is easy to ascertain when these have been achieved.

Related: When Do You Know It’s Time To Sell Your Business

2. It sets out the right environment within which to exit

A good exit strategy considers the economic, social and political environment at the time of your exit. Mjadu says that this is important in order to plan for a secure financial future.

“Failure to think about this could result in short-changing yourself by exiting during a tough economic climate when the risk to buyers reduces the value of your business.”

She references the case of Victoria’s Secret when founder, Roy Raymond, sold the failing business for $1m unknowing that it would later grow into the multi-billion dollar empire it is now. “While Raymond’s exit was ultimately necessary for Victoria’s Secret’s growth, he sold it in 1982 during the global recession of the early eighties – one of the world’s biggest financial crises and this influenced the selling price at his exit”.

3. It compensates those who have contributed to the life of your business

It is important to consider the impact your exit could have on investors and staff, says Mjadu. “Closing shop for example, means that your staff no longer have employment at your business. Selling could mean the same.” She adds that it is important to consider ways in which your exit could also benefit these stakeholders – for example, selling to a bigger business could mean more career opportunities for your staff, as well as continued job security.

4. It compensates you

Mjadu says that entrepreneurs often struggle to recognise their own true worth, especially when this involves attaching a monetary value to what has been achieved. “The time of exiting a business is no place to short-change yourself. You need to get out the full worth of what you put in,” she says, explaining that this means ensuring that you are financially secure before and while you go into your next venture.

“Your needs for retirement and medical insurance, as well as the maintenance of your living standard, should be met at your exit.”

Related: Want to Exit the Company? Here’s Your Shareholder Exit Strategy

5. It sustains your entrepreneurial drive

Mjadu says that while you may be nearing the end of one journey, your exit should enable and encourage you to continue to be an entrepreneur – and to look forward to the next journey. “Your entrepreneurial skills and capacity do not end when you exit your business and whatever your strategy, it should egg you on to more entrepreneurial activity including becoming a mentor to aspiring entrepreneurs.”

Mjadu says that exiting your business should allow you a good retrospective look at what you have done over the years – and so planning the strategy early on in your business lifecycle will set you up in regards to what you hope to achieve. “Upon exit, you should be able to say that you have done what you set out to do, financially and socially, and you have some energy left to do more elsewhere.”

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Search Is On For SA’S Online Retailer Of The Year

World Wide Worx in partnership with Platinum Seed, Visa, Heavy Chef and the Ecommerce Forum of Africa, launch new awards to recognise online stores that promote shopper trust.

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World Wide Worx today announced that it was launching a new awards programme — called the Online Retailer of the Year — to honour online stores in South Africa that grow trust amongst digital shoppers. The awards are part of a broader project to boost online shopping by World Wide Worx in partnership with Visa, Platinum Seed, the Ecommerce Forum of Africa and Heavy Chef.

“Online retail in South Africa has consistently grown above 20% since the turn of the century but only passed 1% of overall retail in 2016. Research shows that trust is a big factor in ecommerce growth, which is why we want to recognise online retailers who help to grow the entire sector by ensuring the kind of ecommerce standards that engender trust with online shoppers,” Goldstuck says.

“But once online retail passes two per cent it crosses an essential psychological barrier and this often leads to a tipping point in emerging economies. That’s when we see online retail snowballing. It gathers real momentum and everyone in the sector benefits,” Goldstuck explains.

To be eligible for entry to the Online Retailer of the Year, owners of digital stores are urged to participate in an essential survey of local online shopping being run by Goldstuck’s World Wide Worx, together with Visa and digital growth agency Platinum Seed.

To participate in the research, local online retailers can go to www.surveymonkey.com/r/OnlineRetailSA

All online retailers who participate will be entered into the award. However, participation in the survey is not a precondition for entry to the awards. However, only online retailers who operate from within South Africa’s borders are eligible for this local award.

The awards will be made at a Heavy Chef event in Cape Town on Thursday, October 01 2018. At the same event, World Wide Worx’s Arthur Goldstuck will lay bare the state of local retail, with Brad Elliott, CEO of Platinum Seed, and Visa.

Related: Up To R1 Million In Funding For Tech Solutions To Early Childhood Challenges

Goldstuck, who is judging the awards, will present the following awards:

  • Online Retailer of The Year
  • 1st runner-up – Online Retailer of the Year
  • 2nd runner-up – Online Retailer of the Year
  • Best New SA Online Retailer of the Year.

The winners of the Online Retailer of the Year awards will be given a digital badge that the online store can display online. The winners will have bragging rights for a year — until the next award is made in 2019.

Judging criteria for the awards include trust, innovation, customer service, digital excellence, customer engagement, product excellence, and the online reputation of the digital store. Visa, Heavy Chef, and Platinum Seed will oversee the judging of the awards. The Ecommerce Forum of Africa will audit the results.

Retailers or entrepreneurs who want to attend the awards and presentation of the research results by Goldstuck can purchase tickets from Heavy Chef.

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