Category Archives: Entrepreneurship

Why you need a business strategy.

“Strategy without tactics is the slowest route to victory. Tactics without strategy is the noise before defeat.”  -Sun Tzu

 

My failures mostly come in the form of a sucker punch I didn’t anticipate.  It’s easy to get lulled into a false sense of security when everything is going well.

Sailing as a young kid my dad always used to say “Keep an eye out for the freak waves.  They’re the boat killers.”  It’s funny though that even though I learned to keep my head up it was only once I got into business that I realized that the adage applies in every phase of life.

 

How then, do you develop a business or marketing strategy?  I’m not the authority, everyone has their own method.  I will however share some points that worked for me.

  1. Understand who your customers are.
  2. Understand your competitors
  3. Figure out what makes your product different and unique
  4. Identify the technologies or products that can kill your business
  5. Look for weaknesses in your competitors marketing, product and business.
  6. Figure out how you’re going to tell your customers why they need to buy from you.

Of course there’s tons more to say on each one the points above, but you get the idea.  Figure out who you want to sell to, why you’re better than your competition, what you can offer that your competitor can and how long you’ve got before you get disrupted.

 

 

Is South African Entrepreneurship in decline?

6210439I’m conflicted over this report.  The percentage of adult South Africans involved in starting a business has plunged by 34%.
On the one hand, I want to rail against the system that saddles entrepreneurs with unworkable tax burdens, restrictive employment & business practices and bureaucracy that doesn’t do enough, but wastes money on window-dressing entrepreneurship.

On the other hand I’m shocked at the sense of entitlement and lack of basic business principles that some aspiring entrepreneurs seem to have.

Gone is the passionate work ethic, replaced by chasing the ‘perfect startup dream’ and buying into the fantasy stories of mega-ipo’s and stellar valuations.

Business plans have become ‘optional’  Read Full Story

The world’s richest doctor (worth R150bn) was born and raised in South Africa

posterboySouth Africa is full of homegrown heroes that have a profound impact on global business, technology and science. Elon Musk may be the poster boy is not the only brilliant SA born mind that left to find fortune, fame and glory overseas.

Patrick Soon-Shiong, the son of Chinese immigrants to South Africa, is the world’s richest doctor and the wealthiest resident of Los Angeles with a net worth of almost R150-billion.

Imagine if we could retain their skills in SA….

Read the full story