An entrepreneur become a business person

It all starts with an idea.

Over time, your idea gathers momentum, causing a cascade of emotions in the process that very few non-entrepreneurs will ever get to experience. Anticipation, excitement and even terror are just some of the words that immediately come to mind; it’s a veritable (self-inflicted) emotional rollercoaster. But deep down you know, your idea will be a success.

My idea for Tourism Radio started in 2005 – probably before then actually, as I had been involved in the tourist industry for some time already. Today, my idea operates on three continents and works with some of the world’s leading brands; creating location-based audio experiences for their clients. I’ve been both financially and emotionally invested in the company for seven years.

But am I still an entrepreneur, or have I crossed over to the realm of a real businessman? A little bit of both I think.

via When does an entrepreneur become a business person? | ventureburn.

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Jessica Alba is all business

Some may know her as the Fantastic Four beauty of Hollywood.

But Jessica Alba has actually stepped up her game as an entrepreneur, juggling motherhood and her eco-friendly baby products business.

And today’s outfit certainly reflected the fact that she meant business.

As Jessica dropped off daughter Honor, four, at school en route to her Honest Company offices, she was seen in a white blazer teamed with ivory chinos and a pair of two-toned ivory and lilac suede buck shoes.

via Jessica Alba is all business as she does the school run in a blazer and bucks | Mail Online.

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Top 10 Rookie Mistakes for Entrepreneurs

Many people who start businesses, including me, have little or no experience and just jump in. Over the years, I have compared notes with many fellow entrepreneurs, and I have seen them make the same mistakes over and over again — I recognize them because I have made them all, too. Here is my list of the biggest rookie mistakes:

1. Keeping your rent as low as possible. The key to business is to keep expenses low, right? Wrong. Sometimes it is worth paying more rent if it will generate more customers, if it gives a better image and inspires confidence, if it helps attract the right employees or if it makes it easier to deal with suppliers. In retail, this one mistake can determine success or failure.

2. Hiring someone you know and trust. Competence is more important. While hiring friends and relatives can work, it severely limits the pool from which you choose, leaving out people who could be much more qualified. Friends and relatives can also carry baggage. They can also be very hard to manage, which leads to my ultimate advice: if you can’t fire ‘em, don’t hire ‘em.

3. Buying used equipment to keep expenses down. This, too, works sometimes, but it is often shortsighted. For example, buying a used truck with 100,000 miles on it will guarantee that you will spend valuable time and money fixing the truck when it should be out taking care of customers. Can you really afford downtime with any machine?

via The Top 10 Rookie Mistakes for Entrepreneurs – NYTimes.com.

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Yogurt entrepreneur tastes success

A Turkish immigrant who five years ago started making Greek-style yogurt in an aging plant in Chenango County on Wednesday was named the nations top entrepreneur by the U.S. Small Business Administration.

Chobani Inc. founder Hamdi Ulukaya used a small business loan in 2005 to buy the former Kraft Food plant in the town of Columbus, where he and about 50 employees later began making a specialty yogurt that was sold in just a single Long Island grocery store.

via Upstate yogurt entrepreneur tastes success – chicagotribune.com.

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Entrepreneurs need to persevere

The desire to succeed by South Africans has resulted in an entrepreneurial culture, which continues to grow at an encouraging rate that is vital to fuel economic development in the country in 2012 and beyond.

While people can learn the principles of entrepreneurship, I think it is very hard to train someone to be an entrepreneur. The steps and the risks needed to succeed in your own business cannot be taught. Ultimately, building a successful business and a legacy is about passion; having a vision and sticking to it.

Starting a business and finding the right concept and vision is a gruelling process.

via Entrepreneurs need to persevere.

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How to stimulate entrepreneurs

In the 2012 Global Entrepreneurship and Development Index (GEDI), which measures a country’s entrepreneurial strengths and weaknesses, South Africa fell from 39 last year to 45 this year.

Nimo Naidoo, project manager of the Sanlam Business Partners Entrepreneur of the Year competition, said stimulating entrepreneurship was the key to igniting economic growth and job creation.

“This decline might be attributed to many various factors. But one of the major factors is the lack of a positive entrepreneurial culture in South Africa,” said Naidoo.

She said research had shown that South Africa’s society had a culture that neglected entrepreneurial activities, especially individuals who had failed in the past.

“The South African educational structure (primary to tertiary education) does not place enough emphasis on equipping learners with the correct knowledge and skill to become successful entrepreneurs,” she said.

According to the latest GEDI rankings of the 79 countries surveyed, South Africa has in the space of a year lost ground on nations such as Colombia and Peru, which have significantly smaller GDPs.

Naidoo said most economically competitive countries in the world had significantly higher levels of entrepreneurial activity.

She said the latest data gathered by Endeavor Brazil, which revealed that SMEs were responsible for 96% of the jobs in Brazil and represented 98% of all companies in the country.

Naidoo said promoting a culture of entrepreneurship was the responsibility of the public and private sector.

“It is essential that each party works together to create an environment within society that serves as a sustainable platform for a positive entrepreneurial culture to grow,” she said.

“Government also plays an important role in ensuring that policies and programmes are aligned with fostering entrepreneurial growth.”

via ‘No business culture in SA’ – Sowetan LIVE.

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SA business growth choked by rules and red tape

OVERREGULATION and red tape are the biggest constraints to business expansion in SA, according to a survey by accounting, audit and advisory firm Grant Thornton.

The survey was based on the views of CEOs, chairmen and business owners in the fourth quarter of last year.Red tape was now as pervasive a problem in SA as in other Brics Brazil, Russia, India, China and SA countries, Grant Thornton Durban managing partner Deepak Nagar said yesterday.

The survey found 37% of privately held business owners in SA cited red tape as their chief constraint, followed by a lack of a skilled workforce, at 36%.

Durban Chamber of Commerce and Industry CEO Andrew Layman said the results were “spot on” and SA’s regulatory environment, for small businesses in particular, needed to be reviewed.

The increasing complexity of regulations such as additional tax or governance requirements, labour issues, black economic empowerment, the time taken to register companies or change directors’ names was stunting the growth of business, Mr Layman said.

The second-biggest constraint to business globally was reduced demand for products — the effect of economic problems in the US and Europe. In SA, the second-biggest constraint to business was a shortage of skilled staff, said Mr Nagar.

Keith Brebnor, CE of the Johannesburg Chamber of Commerce and Industry, said it had become “very intimidating” for young people to start a small business in SA because of the onerous regulatory environment. Dealing with crime and a lack of skills also added significantly to the cost of doing business in SA, he said.

via BusinessDay – SA business growth ‘choked by rules and red tape’

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The secret of success

At 39, Malcolm Hall is at the helm of Open Box, recently voted by Fast Growth 100 as the fourth-fastest growing company in SA. A finalist for Entrepreneur of the Year in SA last year, Malcolm is also a Springbok sailor.

Leadership for me is about creating an environment where people can be really successful at whatever it is they are doing – and love it. It’s then very easy to lead people when they are excelling at what they are doing.

A big part of being a leader is humility. It’s always been important to me to not delegate the job that nobody wants.

via The secret of success – Daily News | Opinion

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Brand thinking and entrepreneurship

Recently I had the honour of speaking at Cape Town Entrepreneurship Week, a four-day event that was held at the Cape Town City Hall. As per my usual style of presentation, it was made up of images that I spoke to, rather than words on slides. So since distributing my presentation won’t help, I wrote this summary to share what I spoke about.

My speech was based on how challenger-brand thinking can be used as a framework for entrepreneurship and some other thoughts. Challenger-brand thinking is based on Eating the Big Fish, a book by London-based business strategist Adam Morgan.

The book establishes eight credos or behaviours that are consistent across ‘challenger brands’ such as Nike, Apple, Pepsi and even Nando’s. I have adapted some of the credos to creating a more meaningful dialogue on entrepreneurship.

Behaviour 1…

via How challenger-brand thinking can be used for entrepreneurship

SA to host 2012 business congress

Small business in South Africa will get a boost next year when the country hosts one of the biggest international business congresses in Johannesburg.

Representatives from the US, Europe and the rest of the world will gather at the Sandton Convention Centre between 15 and 18 September 2012 for what will be Africa‘s first International Small Business Congress (ISBC).

The congress, which is hosted in partnership with The City of Johannesburg, Foundation for African Business and Consumer Services, Khula Enterprises and Finance and the Small Enterprise Development Agency, will showcase activities surrounding small business development in South Africa and around the world.

According to 2012 congress director Septi Bukula, the focus of the conference is to expose small and medium enterprises (SMEs) to business opportunities in South Africa and in different parts of the world.

via SA to host 2012 business congress – MediaClubSouthAfrica.com

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