tag:blogger.com,1999:blog-38842837388463627662024-02-20T03:42:06.322-08:00Centurion EntrepreneursCenturion Entrepreneurs is a collective name for a group of Entrepreneurs that are focused on getting involved in Entrepreneurial development in various ways: Training potential Entrepreneurs to be able to start viable new businesses, offering our services as non executive Directors in new and existing ventures ( Fees on a performance only basis - we perform..we get paid, we do not perform we are OUT !John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.comBlogger37125tag:blogger.com,1999:blog-3884283738846362766.post-57137612464027309412015-06-17T08:46:00.001-07:002015-06-17T08:47:52.208-07:00Challenge the big guys - The Entrepreneurial way ...........<div dir="ltr" style="text-align: left;" trbidi="on">
From the desk of John Brandow<br />
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<span style="color: red; font-size: large;">Link to this article :</span><br />
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<a href="http://www.ducttapemarketing.com/blog/2015/06/16/amazon-sameday/?inf_contact_key=9814b38bd672abdbe57416343265159d0e2ab47a4df259cf97881aa81d00ea2d"><span style="font-size: x-large;">Are you ready for the new challenges ?</span></a></div>
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Will Amazon Put You Out of Business?</h1>
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Let me start by saying, I have nothing against Amazon. In fact, I’m a user and fan, but don’t look now, they are coming after your business.</div>
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They already own some pretty big market share in many categories beyond books and recently made real a proposed plan to add same day shipping. You know, it’s 8 am and you realize you’re out of toothpaste. No problem you’ll have a tube on your door before it’s time to brush and go to bed.</div>
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The service is launching selectively, (see map below) but is sure to further disrupt many small local businesses. But here’s the thing – we shouldn’t let it.</div>
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Read the full story by following the link above ....................</div>
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Comments by the blogger : This is the challenge to Entrepreneurs; There is life after big business. There is life after technology - We cannot all become part of the latest technology - but if you become the :"go to man" in your community you can win it all </div>
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I will be sharing my own experiences in this regard soon on this blog</div>
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John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-2356135410423892472014-01-26T20:14:00.000-08:002014-01-26T20:14:27.133-08:00Some Answers for Matriculants : Help ! I can't find a job<div dir="ltr" style="text-align: left;" trbidi="on">
In all probability parents have spent the most on their children in their last year of School than any of the previous 11 years. Some (most) of those children could not find a job. Most of them have not considered the possibility of being their own employer.<br />
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Centurion study center have developed a program which will help anyone who even remotely considered becoming their own employer. That translates to becoming an Entrepreneur.<br />
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The program basically consists of the following:<br />
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1. A 5 day course in the basics of Entrepreneurship focusing on Identifying a viable business, The process and requirements of running your own business, Understanding the basics of financials and cashflows and drafting a workable business Plan. One day is spent on discussing between 10 and 20 real business opportunities that any one of these candidates can start immediately<br />
2. a Mentorship program where successful business people are utilized and to whom the students can have access to on an ongoing basis through email and telephone.<br />
3. Follow up one day courses focusing on specific subjects ( financial management, human resources, effectively managing your cash etc etc. (These are optional but critical to the success of the entrepreneur)<br />
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A question to parents : What do you have to loose to spend just R6000 on your child sitting at home and doing nothing ? This could be the difference between becoming despondent or becoming a successful Entrepreneur.<br />
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Note :<br />
(One of our successful Mentors have started from nothing 4 years ago and now runs a business with turnovers of over a R100Mil +per annum )<br />
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These programs are done in English and is totally A-political and open to all Genders and Races<br />
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<b><u>Next course starting in 2 weeks time in Centurion - Book Now ! </u></b><br />
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<b><u>John Brandow direct (082 222 5002) or email johnbrandow@p2b.co.za</u></b></div>
John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-81178837096623228632013-05-07T05:29:00.003-07:002013-05-07T05:29:37.660-07:00Serious banking problems ? Get a lawyer on your side !<div dir="ltr" style="text-align: left;" trbidi="on">
This is a mouthful. The problems clients encounter with banks are to many to be able to write a blog article about. It will most probably take a few hundred to get even near to it.<br />
The purpose of this specific page is the following: <br />
Clients obtain credit from banks. Clients encounter problems with the repayment of the credit lines because of various reasons : Their small business fails, they lose their jobs, they get over indebted because of reckless lending from banks and other credit providers etc etc. I will handle this in an upcoming post. Because of these and other factors clients are taken to the courts by the financiers. Of course this is their good right to do so to try and get their money back.<br />
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BUT..and this is a massive BUT. The banks will take short cuts and in the process trample on client's rights. For example : Credit providers are required to deliver a notice in terms of the credit act (in short called a 129a notice) to inform a client of his or her rights BEFORE any legal action can be taken. The banks hide behind the clause in their contracts (which is nowadays unenforceable because of various new acts) that once they have sent this off it is assumed to having been received within a certain period of time.<br />
According to a recent Constitutional ruling this no longer applies. They have to be able to PROVE that the client actually received the notice.<br />
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Now in most cases the banks will go ahead and issue summons. Another problem arises. Whether this is intentional or because of ignorance is not of importance here. They will issue summons to any possible address they might have on record somewhere and possibly in the hope that the client does not receive the summons. In such a case default judment is taken and wholla ! They will repossess property, cars whatever and the client is non the wiser that he had rights !<br />
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We are now in a possition to help most of these clients: You have the right to have those judgments set aside. You have the right to query any and all actions of the banks in their processes of collection ! Just speak to us : A first interview will cost you nothing - even via Skype -<br />
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John 082 222 5002 Skype johnbrandowcenturion email <a href="mailto:Johnbrandow@mweb.co.za">Johnbrandow@mweb.co.za</a></div>
John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-79467604616647810782013-01-06T23:02:00.001-08:002013-01-06T23:04:53.864-08:00Whereto from here ? A must for matriculants !<div dir="ltr" style="text-align: left;" trbidi="on">
2013: The year of the big challenge ! The work market has been flooded by tens of thousands of new Matriculants in South Africa. The South African work market is already overflowing with literally millions of other unemployed people - <b>so what can you do ?</b><br />
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<b>Innovation, thinking out of the box and being creative </b>is what you will need to lift yourself out of the unemployed group and help you get a job. </div>
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Ever considered employing yourself ? Yes being the employer as well as the employee - It is called entrepreneurship. <br />
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Centurion Entrepreneurs is launching an intensive program <b>to help job seekers to understand</b> the whole challenge of getting a job, starting your own business, becoming your own boss , working for a boss and the whole scenario around this.<br />
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Following up on this we have identified<b> 101 REAL business opportunities</b> that can get interested persons up and running in 24 hours - as easy as that ! (Multilevel marketing is not in our vocabulary !)<br />
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We will be conducting our first (FREE OF CHARGE) information session in Centurion on Saturday 26 January - titled : WHERETO FROM HERE ? <br />
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This is a no obligation no strings attached presentation - what do you have to loose ? <br />
We will show you what we mean by :<br />
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<b>"Innovation, thinking out of the box and being creative "</b><br />
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<b><u><i>A Centurion Entrepreneurs initiative </i></u></b><br />
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John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-67431205726045236872012-11-15T00:30:00.002-08:002012-11-15T01:02:27.499-08:00Entrepreneurial success<div dir="ltr" style="text-align: left;" trbidi="on">
Entrepreneurship is the new IT, It is where everyone is making money ! Right ? Dead wrong !<br />
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Speaking from a South African perspective and especially looking at the high unemployment rate and the hype of "Start your own business !" a lot of people are doing just that. </div>
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The challenge ( please note I am not saying problem) is that 99%+ have no cooking clue how to go about it.</div>
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The Solution ? Get a consultant - Yuk - I hate the word and the species ! My biggest issue with consultants are the following (potential Entrepreneurs take note) :</div>
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When considering to make use of a consultant the following needs to be clarified and the problem is they normally are very vague and will not give you a direct answer</div>
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1. What are their qualifications? </div>
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2. What are their claim to fame ? Why should you use them?</div>
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3. What service do they render - really render ?</div>
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4. How do they expect to be paid for their services?</div>
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Never accept any of the following :</div>
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1. Payment upfront before anything is done</div>
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2. Cost structures that are not linked to performance</div>
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3. Claim to fame being : I am linked to.......Robert...........Warren......whatever. Claim to fame is what have you done that moved the bottom line or what do you plan to move the bottom line.</div>
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Here is a scenario you could look at when you are starting a new business:</div>
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<b>Do your homework</b>. Attend a short course in basic Entrepreneurship that does not cost you an arm and a leg. These courses are normally not accredited anywhere ( They are not required to be ) but you should know by the 2nd hour in the course that what you are learning here today is WOW! ( <b><i><u>Our own course is a 5 day hands on course where you can walk away anytime if you are not getting value for your money and we will gladly refund you- That is putting our money where our mouths are!) </u></i></b></div>
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If you consider appointing a consultant their remuneration should be performance based :</div>
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<b>Set up the company </b></div>
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Here is a working model :</div>
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You and your partners ( the shareholders) create the business by registering a company. If you already have a close corporation change it to a company.</div>
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The partners normally fulfill the role of executive directors - Do this only when everyone is involved in the business 24/7. Appoint at least one none exec director , preferable as marketing director. Get a marketing expert in this position and remunerate him based on performance. <i><u><b> (We are available tot fill these positions and our remuneration is always based on performance).</b></u></i></div>
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I am writing this article this morning for the simple reason that in the past 24 hours I have had 2 invites from </div>
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Specialist consultants offer to coach me in making my business a huge success. Both want exorbitant up front fees with no guarantee of success. This just make me see red ( and teaches me to swear)</div>
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Should you consider your own business a chat with me could just be the thing to point you in the right direction !</div>
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John 082 222 5002 (00822225002) Skype johnbrandowcenturion. email <a href="mailto:john@brandow.co.za">john@brandow.co.za</a></div>
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John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-44153610321686976922012-04-16T22:14:00.000-07:002012-04-16T22:14:13.930-07:00Investments vs Business<div dir="ltr" style="text-align: left;" trbidi="on">
<b><u><i>What do you do when you retire </i></u></b>and have only so much money to live with for the rest of your life ? This is an easy question but it does not have an easy answer.<br />
Here are some of the <b><u>solutions your Financial Adviser </u></b>will give you. Yes those guys with the thick glasses and the laptops (or nowadays a Pad). This of course is to make sure you understand they know exactly what your dilemma is. Your dilemma is of course you have this stash of money that they will want to invest for you so that you will get at least 8 to 10% per Year income and they will get a fair chunk in commission. Let me be very clear on this point : There is nothing wrong with commission - it is their salary. The amount they get vs the advice you get is where the problem most of the time lies. But that is not the problem here.<br />
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<b><i><u>They will advise you to invest </u></i></b>and let us for argument sake say that you have the best adviser in the market and you get to get 12% per year on an ongoing basis. Let us say you were earning around R 50k per month and your pension payout is R3million after all costs and taxes. This will now give you R30 000 per month before tax. <b><i><u>This will roughly nett you R 25k per month. Not bad heh? </u></i></b> <br />
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Of course this is about half of what you were used to.<br />
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Now here is something else to consider :<br />
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<b><i><u>Why not start your own business ? </u></i></b> You can easily double that and have some change. <br />
There are only a few teeny weeny problems but for someone with your acumen and knowledge these are so small it is negligible. How difficult is it to draft a business plan , register a company , make sure all legal requirements are in place ( there is only about 17 of these) , do marketing ( you are an expert at marketing are you not ?), set up shop somewhere , get the right staff and bob's your uncle _ Whola you are now getting 24% return on your investment !<br />
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<b>OF COURSE IF ENTREPRENEURSHIP WAS THAT EASY WE WILL ALL BE ENTREPRENEURS WON'T WE ?</b><br />
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<b>If you had the opportunity to become a business owner and earn around 24% per year without all the hastles of running the business and be trained (costs included ) in the process to really , really run a very effective business would you be interested? </b><br />
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<b><u>Details available upon request : john@brandow.co.za or phone me on 082 222 5002 </u></b></div>John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-849456421004216662012-03-28T00:06:00.003-07:002012-03-28T00:07:49.205-07:00Business opportunities<div dir="ltr" style="text-align: left;" trbidi="on">
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<span lang="EN-ZA" style="font-family: 'Bauhaus 93'; font-size: 18pt;">Major
Business Opportunity<o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Abadi MT Condensed Light';">Our
offering:<o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Abadi MT Condensed Light';">50%
shareholding in a Petrol/Diesel outlet with a guaranteed income of 24% p.a on
your investment of R2.2mil. R1.2mil
goes toward the share purchase and R1mil into your loan account as shareholder. The company will start paying back the
shareholders loan to the shareholder after 24 months. <o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Abadi MT Condensed Light';">What
does this mean ? You will be receiving
around R 44 000 per month on an ongoing basis plus R1mil of your initial
capital will be repaid to you starting in month 25. You can of course choose to take the income risk and reward model where nothing is guaranteed but where you stand to make a lot more money in the end if you understand the business model.<o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Abadi MT Condensed Light';">The
managing company is well known in the Retail fuel industry and will be the
servicing agent delivering fuel(Diesel and Petrol) to these outlets. They own
their own Fuel Tankers Outlets are being
bought from present owners that have had enough of the bullying tactics of the
major suppliers and we are able to purchase these at good rates. A turnaround
management strategy ensures the projected incomes we envisage. <o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Abadi MT Condensed Light';">This
is your chance to get in at the onset of a major drive to start a new Brand and
strategy in the fuel distribution industry. <o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Bauhaus 93';">WHAT MUST
YOU DO ?<o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Bauhaus 93'; font-size: 16pt;">Phone
me today</span><span lang="EN-ZA" style="font-family: 'Abadi MT Condensed Light';"> for a personal interview to discuss the
finer details.<o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Abadi MT Condensed Light';">There
is no funny stuff here : just a straight forward opportunity to get involved in
a successful business without the hassles of micro management. You will also be learning the finer details
of Entrepreneurship, Management and Wealth Creation<o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Bauhaus 93'; font-size: 16pt;">John
Brandow<o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Bauhaus 93'; font-size: 16pt;">082
222 5002<o:p></o:p></span></div>
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<span lang="EN-ZA" style="font-family: 'Bauhaus 93'; font-size: 16pt;">john@brandow.co.za</span><span lang="EN-ZA" style="font-family: 'Abadi MT Condensed Light'; font-size: 16pt;"><o:p></o:p></span></div>
</div>John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-88312973073876041332011-09-21T22:59:00.000-07:002011-09-21T23:04:20.362-07:00Funding, Knowledge, Marketing and all that JazzBeing an Entrepreneur is tough in anyone's language. South African Entrepreneurs have some added disadvantages at present and I will list just a few here:<br />
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First challenge : <b>Access to funding </b>:<br />
I really do not care who differs from me but this is a fact: BEE is a problem for White entrepreneurs. It restricts them from getting funding from government organizations and banks. Banks denies this but it is a fact that they look differently at applications using colour as a measurement. I am just stating this as a fact and will give possible solutions to this later in the article.<br />
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Second Challenge :<b> Knowledge <br />
</b>Here I am targeting the whole spectrum : Start up Entrepreneurs think that once they have a business plan (who someone else probably wrote) and a bit of money (in all probability their pension money)they are rearing to go. Oops _ 6 months down the line the boat has sunk ! They did not have the necessary business acumen and basic financial and marketing knowledge to run even the basic requirements of a business<br />
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Third challenge : <b>Marketing. </b> I saw this note on one of the social media groups I am involved in : We are an e-learning organisation. Why do we struggle to find suitable customers?" This is the problem every Entrepreneur face at one time or another - mostly all the time<br />
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As one of my good friends remarked the other day : I am very blunt sometimes and like to call a spade a spade. Why ? Because since I left the spade in the shed last time it did not turn into a rake - it is still there in all it's glory and it is still a spade !<br />
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Lets discuss some solutions to these challenges:<br />
1 <b>Funding: Face the Giant.</b> You cannot back down because some things in life are a given. Accept the following: Banks are not really there for Entrepreneurs. The DTI is a joke. <br />
The process to find out you cannot get funding in the normal banks run something like this : Visit the branch and see a consultant. (1 to 2 days) Given forms (sometimes) and explain they want a business plan. No pre-approval discussions. You go away and pay a ridiculous amount to someone to draft the plan. Back to the bank (3 weeks later) Waiting...waiting........waiting....... 4 weeks later: sorry - declined......Getting my drift? This is totally counter productive. So what are the options?. 1. Accept that you are not going to come right through official channels. 2. Look for alternative funding: Friends, Family , Extending your bond. It all starts with a proper businessplan. Preferably done by yourself with the right help. Someone interviewing you for half an hour and then writing your plan is not the right help. <br />
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2. <b>Knowledge :</b> You do not need a degree - In fact more business fail that were started up with people with MBA's than any others - my perception. MBA is the one degree that anyone who has it will tell you this within the first half hour that you mee them. It is for the show only - my perception. <b>You need to get practical knowledge and a coach that has done it. </b> Make friends with someone who runs a similar busines and spend some time with him/her. Will you fly to Cape Town with a pilot that has done a masters degree in aviation and have not flown before ? I rest my case.<br />
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<b>3. Marketing : </b> Draft a <b>proper marketing plan</b> - again use an expert that has done it before. A website is not a business. In fact serious business needs that as the last resort. Flyers and ads in the papers does not make a business. You have to have a strategic marketing plan and I say again: <b>Enlist the help of an Expert.</b> Nothing will happen until you have sales. This mostly take time and your cash flow projections need to take cognisance of this fact !<br />
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Some more Entrepreneurial Jazz soon : What can I do now to keep the wolf from the door ? To followJohn Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com3tag:blogger.com,1999:blog-3884283738846362766.post-63755213885481583592011-09-06T22:53:00.001-07:002011-09-06T22:53:32.179-07:00Finance for small businessesNo matter who you are going to approach to finance anything in your business the following will allways be the minimum any investor will want to know about the business : Yes anyone giving or lending you money is an investor in the business and in you.<br />
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1. Who are you?<br />
2. What does your business do?<br />
3. Is your business going to make money ?<br />
4. Will you be able to pay them back?<br />
5. Do you have a unique selling feature ?<br />
6. Is your business sustainable?<br />
7. Do you have the necessary business acumen to succeed?<br />
8. Do you have the necessary technical expertise ?<br />
9. Does the market like your product?<br />
10. Is the product range sustainable ?<br />
11. How is the investor’s money secured ? <br />
12. Do you have a written plan ? <br />
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These are the basics and the answers are all found in number 12 : The business plan. Oh yes and you cannot answer these questions with a yes or a no. You need to explain them. And not in 200 pages. A good businessplan is rarely longer than 20 to 30 pages including the cash flow projections which should include a projected income statement and balance sheet. Asking your auditor to do this for you is probably going to cost you more than asking me to do the whole plan<br />
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Anyone can draft a business plan - Not everyone will read yours <br />
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Why ? Because they can see in your executive summary whether you know what you are doing and where you are going. It is like writing an essay: you have all the facts – you are just not presenting them in an acceptable manner. You need coaching and that is what I do. <br />
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Why would you use me ? I have a track record with financial institutions for writing plans that get funding. I have spent 35 years in banking of which around 20 was in commercial finance. I have run my own businesses succesful for the past 11 years. And I do not charge an arm and a leg.<br />
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My fees are :<br />
1. R 8000 for the whole plan, including the cash flow projections and projected <br />
balance sheet and income statement.<br />
2. R 1000 for an initial interview to determine whether your project is fundable and executable. Normally we do a basic cashflow projection during this interview. <br />
This fee is deducted from the plan fee should you require me to do the plan. <br />
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johnbrandow@p2b.co.zaJohn Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-85999587182705027672011-03-01T08:14:00.000-08:002011-03-01T08:17:10.072-08:00The cash flow challengeFollowing on my post last night: 9-Ways-To-Disrupt-And-Hipmunk-An-Industry I really would like to urge you to talk to me about business finance.<br />
<b>We just do it differently than the banks<i></i></b> <br />
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We hope that you are also benefitting from the improvements in the market, that we are experiencing. If not, then the products offered below will assist you in securing some decent deals.<br />
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We have access to all sorts of finance - Banks have never been able to offer this and if they do they bungle it up whenever anyone request assistance.<br />
<br />
BRIDGING FINANCE for Business and Private Persons <br />
<br />
Property Related Bridging Finance<br />
<br />
· Sellers of properties 80 % of equity on sale of a property available<br />
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· Estate agents advances of up to 80 % of commissions due<br />
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· Transfer Duties advances eliminate delays on transactions<br />
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· Further Bond advances on 2nd bonds<br />
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· Equity Release property owner cash advances up to 24 months<br />
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· Deposit Guarantee instead of laying out cash, use a Guarantee<br />
<br />
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Business Related Bridging Finance <br />
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· Single Invoice Factoring advance payments on all or single debtors<br />
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· Full Debtors Bridging outsource management of your debtors book<br />
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· Import Funding bridging finance for funding of imports<br />
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· Inventory Funding refinance stock, to unlock cash<br />
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General Bridging<br />
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Pensions – Provident – Estate Late – RAF – Endowment PoliciesJohn Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-59210810392912352732011-02-25T20:13:00.000-08:002011-02-25T20:15:32.840-08:00<b>The 5 most deadly mistakes in Customer Care.</b><br />
During a recent survey in the USA it was found that 77% of the respondents perceived the reasons for bad service has to do with the human factor.<br />
The first of this is ‘INCOMPETENT STAFF” “Incompetent” is just other words for “UNTRAINED” “ “NOT YET COMPETENT” “DO NOT KNOW THEIR PRODUCTS” The list is pretty long.<br />
The second is lack of friendliness. _ This links to the above. If service staff is incompetent they will know it and they are blaming their company for it. They will be projecting their frustration onto the client. And the client will pick this up immediately.<br />
If you could eliminate the first two you have eliminated more than 50% of your problems with customer service.<br />
There are 3 more serious reasons and just think where you can go if you eliminate all 5<b><br />
WE ARE PUTTING OUR MONEY WHERE OUR MOUTHS ARE. </b><br />
What are you prepared to pay to improve your customer service ? We are going to make you an offer you cannot refuse:<br />
Should you take our offer you can make the price . <br />
Here is our deal : Over a period of 30 days we will train your customer care staff in the soft issues of customer contact and service whilst you will undertake to give them the product knowledge they need. Here is the challenge to you : You can make the price. IF we do not have a 100% improvement in your customer care ratings during that period we will refund you everything you paid us and you get to keep all the results.<b><br />
If we succeed you undertake to pay our price. </b><br />
What have you got to loose?<br />
Phone me now : This offer is not going to last <br />
John Brandow 082 222 5002John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-71153780637282810952011-02-25T03:55:00.000-08:002011-02-25T03:55:03.109-08:00Customer service - where are the banks?In a recent MSN Money-zogby customer service poll in the USA there were no banks in the top ten customer service excellence companies. There were 4 in the worst list. I will challenge anyone to tell me it is different over here. In a country where service is a swear word the banks are most probably to be found in the same company. <br />
What makes great customer service: <br />
<br />
The same poll list the following as what clients percieve as the biggest contributors to customer service in any company:<br />
<br />
When thinking about a company's customer service, which one of the following features is most important to you? <br />
Feature % most important*<br />
Knowledgeable staff 44%<br />
Friendly staff 18%<br />
Readily available staff 15%<br />
Flexible policies for return/exchange of merchandise 9%<br />
Service after the sale 9%<br />
None -- product is all that matters 1%<br />
Not sure 1%<br />
Other 1%<br />
<br />
In other words 77% had to do with the servicing staff and which leaves only 23% for all the other technical jargon <br />
<br />
SO When government said bring back the knowledgeable guys irrespective of the colour of their skin they may just be on about something hey?John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-78523120905785901942011-02-18T05:27:00.000-08:002011-02-18T05:29:15.848-08:00Defying the cage animal conceptI like to call people drawing a monthly salary "Cage animals" They go to work everyday and they get paid every month. What happens in between is irrelevant. He/she gets fed every month.This also implies that you belong to someone- the one that is feeding you. Entrepreneurs and business owners (O yes there are major differences) are different. They are hunters : If you do not hunt you do not eat : It is that simple. We ( my wife and I) have been Entrepreneurs for the past 11 years. Had very hard times, had exceptionally good times , Had hard times again (we were in the property business and the insurance brokerage business ) when the economy hit us like a train. So ? Go and work for someone again.<br />
Not in this life. Started a new venture again 6 months ago and we are not looking back. ( The business ? Private homeschool mentoring centres - the market is huge, the knowledgable players are few and with the shambles in the public school system it is the right time now !) I think quoting Nike here would be appropriate : Just do it ! But I like their biggest competitors slogan much more : "Impossible is nothing"John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-32362450477368427932011-01-16T05:06:00.000-08:002011-01-16T05:06:46.357-08:00The law of SUCCESFUL EntrepreneurshipFrom the desk of John Brandow<br />
<br />
A learnt a very simple law on the weekend during a presentation by my friend<br />
Brian Walsh<br />
It is simple yet so powerful I had to write it down and here it is :<br />
<br />
TO PRODUCE THE SAME OR GREATER RESULTS WITH LESS ENERGY AND RESOURCES !John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com1tag:blogger.com,1999:blog-3884283738846362766.post-37566887266753133692010-12-15T08:35:00.000-08:002010-12-15T08:35:37.772-08:00What does 2011 hold for small Business ?From the desk of John Brandow<br />
<br />
This article compliments of Business Partners <br />
<b>Much of the same<br />
Growth to continue in 2011<br />
<br />
<br />
</b>SME decision makers can look forward to a New Year where not much will change.<br />
<br />
While this is not the best news ever, the silver lining lies in the fact that growth will continue. <br />
<br />
Most economists predict a growth in GDP of about 3.5% for next year. This is nowhere near the levels experienced during the boom but it is higher than the growth experienced in 2010 which should level out at approximately 2.9%. <br />
<br />
RMB Chief Economist, Ettienne Le Roux, says one should also see the increased growth against the backdrop of the 1.8% contraction experienced in 2009. <br />
<br />
In addition, the average growth rate in GDP over the last 20 years was 2.5%. <br />
<br />
As a result, Business Partners Executive Director Gerrie van Biljon, advises SMEs to approach the New Year with caution. <br />
<br />
"A positive element of the expected economic conditions is that there are always niche markets available to those who seek and identify these business opportunities," he says. <br />
<br />
"An example is where larger businesses decide to move out of non core activities or cut product lines that have become uneconomical. To the next person, this opens a market again. When businesses close, even if this may sound negative, doors open for others." <br />
Global woes<br />
Le Roux says the biggest driver behind the growth will be consumer spending. <br />
<br />
"As this gains momentum, more businesses will invest and the 3.5% growth will be generated locally," he says, adding that this is good news for SMEs. <br />
<br />
The South African economy was fairly insulated against the global crash but not immune. Similarly, Le Roux says that one of the biggest headaches next year will be the European debt crisis. If the debt crisis escalates, European growth will decrease and so will South Africa's. <br />
<br />
"The international issues cannot be solved in the short term. So the global and South African economic outlook remain uncertain… <br />
<br />
"Consumer spending has recovered well and there is momentum at the moment despite job losses. So the reason for the spending is locally based on high wage increases, low inflation and low interest rates." <br />
<br />
The Efficient Group's Chief Economist Dawie Roodt echoes these sentiments, adding that another risk factor is capital markets. If investors make a beeline for the door, local interest rates could rise sharply. <br />
<br />
Other global risks include a shake-up in the political landscape, a decline in the dollar's strength and a possible slowdown of the Chinese economy. <br />
Local conundrums<br />
On the local front, Roodt says that the leftward movement by the powers that be need clarification, especially when it comes to the budget and economic growth path. <br />
<br />
However, he does not expect radical changes but a small move to the left. <br />
<br />
Roodt believes that the rand will mostly stay strong next year, as will inflation. Interest rate increases in 2011 seem unlikely. <br />
<br />
He also thinks that consumer spending will continue to grow, supporting the retail sector. Financial services can also expect a decent year. <br />
<br />
Property expert, Rode and Associates' Erwin Rode, does not expect much to happen in the residential property market. <br />
<br />
But, whereas these property prices probably won't increase, the office rental market has started to pick up: "I don't expect fireworks but a moderate increase in rentals is possible". <br />
<br />
The industrial market in turn will continue to be under strain as the rand remains strong and manufacturing struggles. <br />
<br />
"The construction industry is crossing deep waters and things are difficult. We have idle capacity and an oversupply of most types of property space. This oversupply must first be taken up (before growth returns). <br />
<br />
"It is going to be one of the toughest years for the building industry," Rode says. <br />
<br />
Econometrix's Tony Twine says that sectors exposed to credit markets, particularly credit extended to consumers, should not be too optimistic about demand levels in 2011. <br />
<br />
"Consumers remain highly indebted and credit suppliers will continue to be cautious because of the provisions of the National Credit Act. The Consumer Protection Act will force all vendors of goods and services to consumers and throughout the supply chain to behave with greater caution and professionalism than ever before." <br />
<br />
But, consumer debt to income ratios will continue to decrease, which will drive some new credit creation. <br />
<br />
"However, 2011 will begin with interest rates at levels lower than at any time since the 1970's, reducing the debt financing burden and freeing up some discretionary spending power, although not impacting on disposable income. High wage settlements prevalent during 2010 are unlikely to be repeated during 2011." <br />
<br />
Twine adds that SMEs supplying goods and services to local authorities "may have to sharpen up their act as voters and higher tiers of government put pressure on local authorities to increase both the pace and effectiveness of service delivery, which will be the major tipping point of the 2011 elections. <br />
<br />
"In many instances, there could well be new political bosses in many local authorities after the elections, who will be looking around for greater efficiencies and effectiveness from suppliers than has perhaps been the case in the past." <br />
Wise words<br />
Roodt comments: "The time to start a business is not when everything is going well. If you have a good plan and good backers and if you are an entrepreneur, then now is the time. <br />
<br />
"Be sure of your budget and do not overextend yourself. Budget conservatively. Those who take the risks now will benefit when the economy starts growing again." <br />
<br />
Cash flow remains the mantra for 2011. <br />
<br />
"In an economy where there is limited growth, cash flow is the name of the game. Larger customers of SMEs will take advantage of this position to stretch payment terms to the maximum and put smaller business under pressure as a result," Van Biljon says. <br />
<br />
"To take on a client just to have the business, only to write the money off at the end, is a short term and unsuccessful strategy. <br />
<br />
"Deciding when to dump a client or when to tolerate slow payments or cut margins, is one of the most difficult and painful decisions. <br />
<br />
"2011 can largely be regarded as a year of consolidation. Costs should be evaluated and contained, the business model reviewed and alternative measures to weather the storm should be considered. <br />
<br />
"To cut gearing and personal spending comes at the right time and the expansion dreams may only be a realistic option at a later stage," Van Biljon says.John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-83707428008439346532010-12-07T06:53:00.000-08:002010-12-07T06:53:27.097-08:00Finance optionsFrom the desk of John Brandow<br />
<br />
Getting finance when you are an Entrepreneur is one of the biggest challenges business owners faces. The lack of this is also one of the main reasons for business failure.<br />
Most of the times the Entrepreneur starts looking for finance when it is too late.<br />
It is when he realizes that he cannot cope and cannot manage his cashflow. By now no-one wants to help. Credit records are already going bad and it becomes a daily battle to survive.<br />
<br />
The management of your management statements (What is that !!!??) is the most crucial part of running a business. Drafting and managing a cash flow projection document is as vital as the management statements <br />
<br />
Part of our offering to Entrepreneur is to help them GET FUNDED. We have a combined experience of over 50 years in the field of finance and banking and know exactly what to do and where to go. Watch this blog for details of how to go about applying for finance and what we can assist you withJohn Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-47236414711583921302010-10-21T07:35:00.000-07:002010-10-21T07:35:43.808-07:00SPAM OR NOT ?From the desk of John Brandow<br />
Most people with an own domain might find that SPAM are on the increase. There are a lot of so called reputable businesses out there making use of SPAM creators (my definition). What is a spam creator? It is someone making it their business to harvest by any means possible email addresses and then assuring their high profiled clients (like some insurance companies - names available) that everything they do is above board. Now let me tell you it is not. How is it possible that an email purported to have been authorised by me get into my inbox addressed to an email address that is only available on my website ? An email address I never use for any other purpose as to enable clients looking for me to get in touch with me ?<br />
<br />
Now this said there are two other major Issues I have with internet marketing companies and their strategies. <br />
<br />
My service provider (Mweb) sends me a mail to request permission for someone I have never heard of to send me mails. Remember now they have probably send this to their whole database which is huge and when asked who this person is they do not even know. What could have happened? <br />
<br />
Because I trust them ( they are big and looking after my interests, anyway so I thought ) I might have just said yes creating the possibility that I might be bombarded with spam I would not have had an idea where it comes from.<br />
<br />
The second one is far more serious for me: An attempt to highjack my database. How does that work ? Under the guise of "viral marketing" i am requested to send an email on to my database with a copy to the company running a competition where you could win a weekend away. There is even a prize for the one that sends the most emails. Now I have major problems with this kind of spam creation. <br />
1. I have build a reputable database of persons and business I know and have met or otherwise have had interaction with.<br />
2. These people whose data is on my computer trusted me with their data and would definitely not want spammers to get hold of their data. <br />
3. The competition runners are going to bombard them with emails using me as the reference adding credibility to their mail without that having been the intention. <br />
4. No one knows what is going to happen to the data so collected !<br />
<br />
Be very carefull what you send on and if you do send anything on use the blind copy facility - at least no one can misuse your data baseJohn Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-79063260851646607362010-08-26T04:47:00.001-07:002010-08-26T04:47:29.804-07:00Defeating Murphy’s law : Write a Partnership Agreement!From the desk of John Brandow<br />
<br />
Whenever you do business and there are partners involved it is absolutely crucial that a written partnership agreement are drawn up and signed by all parties concerned. This needs to be done before any vital business decisions are made and while the partners are still friends with each other. While it is not required by law, a partnership agreement can give you a framework for defining each partner's obligations, and settling the conflicts, disagreements and other difficult-to-resolve issues that naturally occur in nearly every business relationship. Ultimately, it will help ensure the long-term well-being of your business.<br />
Starting off from the assumption that Murphy will always be present in any business venture. That is at least his laws that anything that can go wrong with the partnership will go wrong. The best intentions of a partnership will be broken when friction between the partners over the silly things in life comes into the relationship. These are things like Money, Power, (who may do what? Etc) and ego that might come into play. <br />
It pays to be extra cautious when drafting such an agreement and it must make provision for most of the what-if situations that may arise and it must set methods for resolving these.<br />
It is always advisable to make use of a knowledgeable attorney but it can save you money to draft the basics yourself. It is also necessary to make sure that the contract complies with local law. It is also advisable that the partners make use of independent lawyers to cover everyone’s interest and not use the company lawyer who cannot represent the interest of individual partners.<br />
The following cover the basics that should be contained in such an agreement. There might be a few others that your lawyer might point out but it basically covers it.:<br />
Basics<br />
• Decide on a the name for the partnership?<br />
• What is the purpose of the partnership?<br />
• Is there a duration to the partnership- define it <br />
Responsibilities, remuneration and performance<br />
• Clarify each partner’s roles<br />
• What are each partner's responsibilities within the company, and what level of performance is expected?<br />
• What is each partner’s commitment in terms of time to the partnership. Is it full time, part time and to what extent will each partner do his own thing?<br />
• How will the partners be remunerated and how will profits and losses be handled and distributed?<br />
Contributions<br />
• What will each partner be contributing to the partnership in terms of cash, assets, loans, investments, and/or labour?<br />
• How will partners loan accounts be handled , what are the terms and conditions, interest rate (if applicable) and exit strategy concerning these loans?<br />
• Should it be required might the partners be expected to make additional contributions to the partnership and how will it be handled ?<br />
Exit strategy of partners/admission of new partners<br />
• What guidelines should be followed if one partner wants to leave the partnership?<br />
• (make provision for a buy and sell arrangement and cover with life insurance)<br />
• How will possible sales of partner’s share be handled ( first refusal to other partners?) and will they be allowed to sell to outside new partners. How will such new potential partners be screened and approved by the remaining partner/s?<br />
• Describe the route to be taken should incidences occur where a partner is guilty of misconduct, non-performance of duties etc. <br />
• Will new partners be admitted to the partnership and the methodology in such and instance <br />
<br />
Buy-out procedures<br />
• What are teh guidelines should a partner want to retire or leave the partnership?<br />
• What happens if a partner is incapacitated or dies? (buy and sell agreement)<br />
• Will the partnership take out Buy and sell life insurance to ensure the surviving partner is able to buy the deceased partner's shares from his/her heirs?<br />
• Will partners who leave have to sign a restriction of trade agreement?. This can be included in the first instance into the agreement.<br />
Dispute resolution<br />
• What methods will be used to settle disputes that can't be otherwise resolved?<br />
• What procedures should be used in the event of a tie vote between partners on crucial partnership decisions? This is important and could be solved initially by a 49/51% shareholding split although this might complicate matters<br />
• Will you use mediation or binding arbitration?<br />
• If disputes can't be resolved, is there a mechanism in place for dissolving the partnership?<br />
<br />
Financial arrangements<br />
• What banking arrangements will be made for the partnership?<br />
• Which partners will have cheque signing privileges?<br />
• Who will be authorized to draw on the partnership's accounts?<br />
• How will the books be kept?<br />
Method for dissolving the partnership<br />
• When can the partnership be dissolved?<br />
• What happens to the partnership if the partners decide they can't work together?<br />
Valuation<br />
• What methods will be used to determine the value of the business in the event of a sale, dissolution, death, disability or withdrawal of a partner?John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-3984027926211178152010-07-29T06:53:00.000-07:002010-07-29T06:53:11.401-07:00The L and T factorFrom the desk of John Brandow<br />
<br />
Do you have the L and T factor ? Whatever product you are selling or whatever service you deliver or whatever fancy marketing and sales strategies you employ at the end of the day you must put these two questions to yourself : Do I have the L factor ? Do I have the T factor and does my business and my staff have it ?<br />
<br />
Not too difficult to figure out is it ? The L factor stands for Likability factor and the T factor stands for the Trust factor. Do my clients like me and do they trust me ? <br />
<br />
This also links up to the ethical part of your business. Do you run it in an ethical way and do your staff subscribe to the ethics of the business. Referring to the "Unashamedly ethical" campaign of the Power Construction group how many businesses will actually be willing to subscribe to the decree of the campaign? I am not here advocating or marketing the campaign. The message being that if you have the L and T factors you do not have to subscribe to anything. <br />
<br />
If you are liked by your clients and they Trust you they will do business with you.<br />
They like you because you are an approachable person and they Trust you because you have earned their trust and proven to them that they can trust you. Referring off course to "you" it applies to your whole business.<br />
<br />
A recent incident with a very well known gym group (it is not Virgin - it is the other one) just emphasized my point. They cannot be Trusted and their staff are everything but likable. Why is that ? For one : They are greedy. They will try to enforce their contract to the letter, no matter what the circumstances of the client is. (even to the extend that they do not care of you call them names - Just remember that if you are happy with a business you might tell one other person but if you are not you will tell 10 others and they will tell 10 others and.........)<br />
(I have told about a 100 how untrustworthy and unlikable I perceive them to be) <br />
<br />
Ever thought of not signing a contract for a monthly service ? Like the Gymnasiums and Security companies.? I am prepared to bet you that you will have a path beaten to your door. Show your clients you Trust them and they can Trust you. Become a likable business.John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-24167362220944795052010-05-31T22:06:00.000-07:002010-05-31T22:06:20.886-07:00From the desk of John Brandow<br />
<br />
<b>Buying, selling a business<br />
Proper planning needed to set the right price<br />
Chris Koen, Regional General Manager, Business Partners Ltd<i></i></b><br />
<br />
<br />
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Entrepreneurs are attached to their businesses – and that is understandable. So much effort, blood, sweat and tears are poured into starting and growing the business. That makes it very difficult to consider selling the business without attachment and emotion.<br />
<br />
However, it is important to look at the deal (buying or selling) objectively.<br />
<br />
A number of issues should be considered and thoroughly researched before the business is put up for sale:<br />
<br />
* Are the financial statements up to date and of a high standard?<br />
* Potential buyers – who would consider buying the business, what background, experience and available capital should the buyer have?<br />
* Finding a reputable agent who can be trusted to sell the business<br />
* What would be the role of the business's accountant in the process?<br />
* Appointing an attorney to ensure all legal processes are complied with<br />
* Determining the selling price – what is the value of the business, and choosing a reputable valuator<br />
<br />
Determining a fair market value is often the most difficult issue to resolve and a professional opinion should be obtained. There are a number of methods generally used to value different types of businesses. Some of these are:<br />
<br />
An earnings multiple - based on the premise that the value of an asset is only worth the income/cashflow streams it can produce<br />
<br />
P/E (Price/Earnings Ratio) - quite simply, this implies the level of earnings the buyer can earn from the investment (Price to acquire the business), for example, should the NPAT (nett profit after tax) of the business be R1,0 million and a fair P/E ratio is 5, then the value of the business as a going concern would amount to R5,0 million (= R1,0 mil x 5)<br />
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EBITDA - Earnings before interest, tax, depreciation and amortization<br />
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This method is mostly used where fixed property forms a substantial part of the operating business such as a guesthouse.<br />
<br />
For example, should the EBITDA amount to R1,0 million and a fair multiple is 7, then the value of the business as a going concern would amount to R7,0 million.<br />
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Cap rate - a capitalization rate is normally used to determine the selling price of a fixed property earning a rental income, assuming the value of the assets is determined by the cashflows it generates. For example, should the earnings before interest and tax amount to R1,0 million and a Cap rate of 11% is deemed fair, then the market value of the property would be R9 090 909 (R1.0Mil/11%)<br />
<br />
NAV or net asset value - this method is sometimes used when a buyer would take over all the current liabilities in the business as well. (Total value of assets minus total value of liabilities)<br />
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DCF or discounted cashflow - this values the future income stream of the business. It should normally only be used when there is a fair degree of certainty of future cash being generated (for example, contracts for future delivery to reputable companies/institutions)<br />
<br />
In summary, the buyer wants to determine if he or she will be able to generate a fair return on investment should they buy the business at a given price.<br />
<br />
A fair return is sometimes difficult to determine, but it usually relates to the return one should be able to get on a risk free investment (like at a bank), plus a risk premium. If the purchase price of the business is for example R5,0 million, one should be able to generate a risk free return of say 10%. Can this business generate a NPBT (nett profit before tax) of R500k plus a risk premium? The risk premium is the difficult factor to determine and would depend on the type of business or industry. As a rule of thumb a risk premium in these times could probably be as high as 35%. Therefore 10% x 35% = 13.5%; and the business should then reasonably be expected to generate a NPBT of at least R675k.<br />
<br />
Any serious buyer will do a thorough due diligence and it normally relates mostly to the financial position of the business. The seller should make sure that he or she has a good set of financial statements for at least the last three years available. These should be signed of by the accountant of the business, as well as the directors or members of the business, and should preferably not be older than three months. Any anomalies in the financial statements must be summarised and available to the buyer.John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-82529470988915778822010-04-11T23:32:00.000-07:002010-04-11T23:36:12.581-07:00Starting a business with little or no moneyFrom the desk of John Brandow<br />
<br />
Is this at all possible ? Starting a business with no money ? <br />
<br />
Yes! it is possible - watch out for our next Business opportunities seminar coming up shortly. Send me an email to Opportunities@brandow.co.za to be kept informed.<br />
<br />
A lot of people think they have started a business when they get involved in MLM schemes. I have news for you. You have not started a business<br />
You have started a pyramid scheme. You have no control over your downline<br />
You do not have a quality product - some MLM's say outright that the product is unimportant. It is all about getting new prospects in and most probably you are going to run out of new prospects soon and whola - down line is decreasing again - a lot has been written about the subject but the book : Merchants of Deception says it all. It is about the deception of MLM company Amway and the heartaches and broken homes they have created.<br />
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The purpose of this post is not to break down MLM - It is telling you that there are a lot of REAL business opportunities if you have the right mentality for it. You have to be entrepreneurial material - In short we will show you at the seminar whether you are. And give you all sorts of new opportunities. <br />
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Should you buy a Franchise ? I don't easily recommend it - You need a lot of money - especially if you want to buy one with real potential.<br />
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Should you get a partner ? Should you look for an investor ? Will a bank finance your idea? <br />
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Send me an email for information on the next promotional session - It is FREE to attend ! Opportunities@brandow.co.zaJohn Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-79782770264955320582010-04-09T02:35:00.000-07:002010-04-09T02:35:05.364-07:00Medupe Power station loan to EskomThere is world wide re-action after the announcement that the world bank has approved the loan to Eskom for the development of the coal fired Medupe power station in Lephale in the Northern province. Everyone who is anybody has an opinion and so do I<br />
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If you leave politics and personal emotion out of the equation this was a good business decision by the World bank. America (USA) abstained from voting which was probably the best for them at this stage. There are some hotheaded Senators that has a mouthfull to say about things they do not understand.<br />
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The Americans cannot even sort their own healthcare problems out let alone try to understand a complex country like South Africa. <br />
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The one thing South Africa does not need now is the world hypocrytes and Green fanatics to critise us. The fact that we (myself included) have no faith in the capabilities of our Government does not mean that we should not be positive in the prospects of possible growth due to the granting of the loan and the prospects that we will not have to pay exorbitant fees for electricity. <br />
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From the desk of John BrandowJohn Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-2231099921671121712010-03-15T06:04:00.001-07:002010-03-15T06:05:12.665-07:00The “Joys” of BudgetingFrom the desk of John Brandow<br />
The “Joys” of Budgeting <br />
In the next few weeks the postings on this blog is going to focus on personal budgeting<br />
We have developed a full one day course covering these aspects and showing students<br />
(grown up ones and potentially rich ones at that) how to do a personal budget and stick to it. If you follow our guidance you can be out of debt (totally and forever) within 5 years. No Bull and this includes your house ! <br />
1. Budgets are a necessary evil.<br />
But it is the practical way to know what you’re spending - and to make sure your money is being used the way you intended it to be used. This is a discipline thing ! – we are going to talk about that a lot <br />
2. The following are the basic steps in creating a budget<br />
a. First determine what you are spending your money on – use a template available from us.<br />
b. Determine your long term financial goals and evaluate your current spending against that<br />
c. On a monthly basis track your spending to make sure it stays within your determined guidelines.( again using the template supplied by us)<br />
3. . Don't be too finicky <br />
When you use a computer program to do your budget you can get bogged down into too much detail. Detail is good – too much is not. Once you have gone through your prioritized detail and decide what to expand and what to cut out and the sums have made sense focus on these and worry less about other aspects of your spending.<br />
4. The dangers of drawing too much cash and too regularly<br />
If you find that you have drawn R1000 today and tomorrow you need to draw money again you might have a thief around – You ! Readily available cash in your wallet is a drawcard for unnecessary spending. Keep n little black book and keep record of what you are spending your cash on <br />
5. Spending beyond your limits is dangerous.<br />
But if you do, you are amongst good company(or bad ones depending on how you look at it )<br />
You will need to make some serious efforts to cut back – the discipline thing ! <br />
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6. Beware some luxuries disguise themselves as necessities.<br />
A Budget should balance with the “surplus” being a surplus (+) and not a deficit (-) at the end of the exercise. It is when luxuries disguise themselves and you spend on them thinking it is a necessity that the balance is thrown out <br />
7. The 10% rule <br />
Your budget should ideally show spending of a maximum of 90% of your income – that way you will be saving 10% every month ! This should ideally go into a notice deposit account – you must not be able to draw it without giving notice. <br />
8. The extras.<br />
Don’t count “possibilities” into your budget. Bonuses , tax rebates etc should be windfalls and should ideally be going into the notice account ! <br />
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9. Beware of inflation<br />
As your income increases over time and you start earning more money discipline can easily go out the window. Use this extra money as part of your long term goals. Notice deposit !<br />
10. Last but not least = Discipline<br />
If you lack this and do not keep to these rules debt councillors are in yourJohn Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-80405405904526324932010-03-09T20:40:00.000-08:002010-03-09T20:40:51.868-08:00The Farce of Affirmative actionFrom the desk of John Brandow<br />
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I attended the first day of the Skills and training summit at the CSIR in Pretoria yesterday.<br />
Statements and statistics given by some of the speakers have indicated clearly that Affirmative action is a farce. 10 years ago there was a shortage of 300 000 managers in South Africa. Over this period only 30 000 was trained and the shortage figure is now higher than 10 years ago. Still the government sticks to its affirmative action policy. My opinion ? I contend that this shortage can be eliminated by appointed white males that are skilled and out there ! Exactly the same scenario exists in the artisan field. No figures were given but it is a fact that if a bucket has a hole it will eventually run empty if it is not filled with at least the same stream of water that is running out. There are only 5000 to 7000 thousand artisans trained anually while there is a need for at least 20 000 in South Africa. No need for a calculator here. <br />
Again most of the artisans that is needed is most probably available in the White pool.<br />
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Massive new projects are planned and under way - Ellisras for instance (see www.ellisras.blogspot.com) Where is the artisans going to come from ? Where is the managers going to come from ?<br />
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Biggest question however is WHEN IS THE GOVERNMENT GOING TO WAKE UP AND START THINKING FOR THEMSELVES ?John Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0tag:blogger.com,1999:blog-3884283738846362766.post-354488914959085252010-03-04T05:16:00.000-08:002010-03-04T05:16:36.219-08:00Personal budgeting for dummiesFrom the desk of John Brandow<br />
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So are you earning a good salary ? And are you living well ? Do you spend your money in the right places ?<br />
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Answer these few questions :<br />
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1. Do you feel a tight squeese somewhere in your finances ?<br />
2. Are you feeling you are somewhere not in control of your finances ?<br />
3. Is the month too long between paydays?<br />
4. Would it be nice to be debt free in 5 years ? Do you think it is possible ?<br />
7. Would you like to have the tools to do this ?<br />
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If you answered yes to even one of these you should make an effort and attend one of our basic free seminars<br />
Send me an email : John@brandow.co.za for an inviteJohn Brandowhttp://www.blogger.com/profile/17802866041790601929noreply@blogger.com0