Top Listings

Make sure to check out these listings

  • K.S & Associates

    K.S & Associates

    • +27314045866
    • www.ksandassociates.co.za
  • NMG Consultants and Actuaries (Pty) Ltd (Namibia)

    NMG Consultants and Actuaries (Pty) Ltd (Namibia)

    • +26461237841
    • www.nmg-co.za
  • Department Of Provincial Treasury - KZN

    Department Of Provincial Treasury - KZN

    • +27333974200
    • View Company

News

Stay updated with the news

Mon, 12 Jun 2017
15 Business Tips Every Entrepreneur Should Know

The biggest problem founders and small business owners have is that they’re experts in their field and novices in what it really takes to effectively run a business. That’s what usually trips them up, sooner or later. Don’t let that happen to you. Admit that you don’t know what you don’t know about business, starting with these 15 tips guaranteed to help keep you and your company out of hot water. Some are straightforward, others are counter intuitive, but they’re all true. And some day they’ll save your butt.

Always make sure there is and will be enough cash in the bank. Period. The most common business-failure mode, hands down, is running out of cash. If you know you’ve got a cash flow or liquidity problem coming up, fix it now.

You can’t fire bad employees fast enough. You just can’t. Just make sure you know they’re the problem, not you (see next tip).

The problem is probably you. When I was a young manager, my company sent us all to a week of quality training where the most important concept we learned was that 90 percent of all problems are management problems. When things aren’t going well, the first place to look for answers is in the mirror.

Take care of your stars. This goes for every company, big and small. The cost of losing a star employee is enormous, yet business leaders rarely take the time to ensure their top performers are properly motivated, challenged, and compensated.

Your people are not your kids, your personal assistants, or your shrink. If you use and abuse them that way, you will come to regret it. Capiche?

Learn to say “yes” and “no” a lot. The two most important words business owners and founders have at their disposal are “yes” and “no.” Learn to say them a lot. And that means being decisive. The most important reason to focus – to be clear on what your company does – is to be clear on all the things it doesn’t do.

Listen to your customers. It boggles my mind how little most entrepreneurs value their customers when, not only are their feedback and input among the most critical information they will ever learn, but their repeat business is the easiest business to get.

Learn two words: meritocracy and nepotism. The first is how you run an organization – by recognizing, rewarding, and compensating based solely on ability and achievement. The second is how you don’t run an organization – by playing favorites and being biased.

Know when and when not to be transparent. Transparency is as detrimental at some times as it is beneficial at others. There are times to share openly and times to zip it. You need to know when and with whom to do one versus the other. It comes with experience.

Trust your gut. This phrase is often repeated but rarely understood. It means that your own instincts are an extremely valuable decision-making tool. Too often we end up saying in retrospect and with regret, “Damn, I knew that was a bad idea.” But the key is to [...]

Read More
Fri, 02 Jun 2017
The big chance for takealot

For fast-growing online businesses operating in a fiercely competitive world, staying ahead of the game is a cash-burning exercise. Last month’s R960m investment by Naspers* in takealot, which owns online retailers takealot and Superbalist as well as Mr D Food and Mr D Courier, gives takealot the cash it needs to scale up. “Our models are well-established, but these businesses need cash to scale,” says founder and CEO Kim Reid. “We are not trying to build a small retailer,” he says. “We are investing in our platform and in attracting new users.” For companies like takealot, attracting more users and making more sales increasingly offsets high fixed overheads, and profitability increases. In this type of business, scale is everything.

“We have wanted to raise cash to be sustainable and to cement our future, and this investment is exactly what we need to ensure our sustainability,” Reid says. While fast-growing online companies may not be short of investor interest, Reid says it takes time and effort to raise cash and it can take one’s eye off the ball and be disruptive to business. takealot.com was launched in June 2011 following the October 2010 acquisition of e-commerce business Take2 by Reid and US-based investment firm Tiger Global Management.

takealot now claims to be the leading e-commerce retailer in South Africa and “one of the largest, most innovative e-commerce retailers on the African continent”. This is Naspers’s second investment in takealot, the first taking place alongside takealot’s merger with kalahari in 2015. Last month’s investment, which sees Naspers become its majority owner, still needs approval from competition authorities.

The investment allows Reid and his team to focus on the businesses and on growth, which has been strong. Growth has been a compound 90% a year in terms of number of transactions and over 100% in terms of gross merchandise revenue. Its businesses are at different stages of development. takealot is the most mature, and so growing at a slower rate than Superbalist, which grew “at triple-digit rates” over the last few years. Mr D (formerly Mr Delivery) has transitioned into a purely digital business and is phasing out its call centre over time.

These businesses operate in a cut-throat world, and their competitors are not just online. “When we do pricing analysis in Superbalist, for example, we are fighting for the same consumer as online platforms and everyone from H&M to Cotton On.” Asked if these competitors include global online retailers, Reid says “yes and no”. There are challenges with ordering globally. Many people order on global sites and do not receive their goods, or they do not have the option to return items.

Goods from global retailers can take a long time to arrive and customers may incur unexpected charges. “We believe you need to be in the country – in control of delivery and of customer satisfaction,” Reid says. Not only is takealot on the ground in SA, but there is also huge potential for growth here, where online retail accounts for less than 2% of the [...]

Read More
Fri, 31 Mar 2017
South African wine producers target China

South African vintners are busy in China. In March, South African wines appeared at the “Great Wines of Southern Hemisphere 2017” trade show, which took place in the southern city of Chengdu just before China’s largest annual food and wine fair.

This month they will be participating in a series of promotions culminating in the “Discover South Africa” tasting event in Shanghai on 27 April. According to Michaela Stander, market manager for Asia at Wines of South Africa (WOSA), this will include about 20 exhibitors showcasing over 200 wines. And that’s not all.

In May, Shanghai will host SIAL China, one of the largest food exhibitions in Asia, where South African wines will woo visitors at the country’s pavilion. In October, WOSA, a non-profit established to promote South African wines in major export markets, will lead a three-city road show on the Chinese mainland and in November South African wines will once again sparkle in ProWine China, a major wine and spirit industry fair hosted annually in Shanghai. The signs are clear.

While the top five export destinations for packaged South African wine exports are still in the West – the UK, Germany, Netherlands, Sweden, and the USA – China is becoming increasingly important as an export destination.

“China is currently South Africa’s sixth largest export market for packaged wines by volume, and the largest in the Asian region, accounting for around 9.46m litres [in 2016],” says Stander. This represents 5.44% of South Africa’s total packaged exports.

If bulk exports are taken into account, then total exports to China in 2016 jumped to 15.76m litres. This means that while South Africa’s total exports (packaged and bulk wine) worldwide increased by 9.8%, worth R9bn ($688.1m), total exports to China increased by 39%, valued at R554m ($42.4m).

 

Read More

We Have An App

Be sure and check our app for more news

  • More news directly in your inbox
  • Be informed in seconds about latest products
  • Grab all cool deals & be the first

Video Adverts

Make sure to check out these video adverts