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Business Success

From soft skills to core competencies – the new essentials for future entrepreneurial success

Article by Alan Shannon, Executive of Small Business Services and Private Clients at Nedbank

To succeed in the future, entrepreneurs must embrace technology, social imperatives, and adaptability. With advancements in artificial intelligence, sustainability and decentralised finance, the business landscape is shifting rapidly. With this, entrepreneurs need to integrate cutting-edge technologies and adopt ethical and sustainable practices. Digital transformation and changing regulations have redefined traditional business operations, making geographical locations less important. This future requires a new breed of entrepreneurs who are lifelong learners, tech-savvy, and adaptable to change.

How to go from juggling 100 tasks to running your business with finesse

Business can often feel like a delicate juggling act. Between attracting new customers, retaining existing customers, managing cash flow, filing taxes, monitoring the competition, and keeping tabs on your teams, there are a lot of balls flying – all the time. How do you know that you are making the best decisions for your company's growth and future success when there's so much to focus on in your daily operations?

In this article, we will consider how you can run your business more efficiently so that it doesn't feel like an impossible juggling act. Plus, we'll take it a step further by suggesting how you can use Syft to save time so that you can shift your attention from getting through the week to growing your business for the long haul.

How to build a resilient business

Pandemics, wars, political unrest, and load shedding are just a few difficulties we have had to face in South Africa and globally. But as the world gets smaller, and technology keeps developing changes are happening more rapidly. So, what do small businesses do in this chaos? Well, a lot will close their doors, but a business built with resilience will succeed and even thrive in challenging situations. You may be asking yourself but how do I build resilience in my small business? Well, let’s first look at what resilience is then we can see how to build it.

Why optimism and entrepreneurship go hand in hand (and why it’s crucial to a growing business)

Blind optimists.’ That’s what entrepreneurs have been referred to throughout history – and for good reason. Entrepreneurs have the unique ability to envision a future that doesn’t yet exist and to take steps to make that vision a reality, even though they may be unsure whether those steps are being taken in the right direction.

‘Just start,’ is the one piece of advice many of those notoriously optimistic entrepreneurs share with people who ask them how they’ve managed to achieve what they have. To follow that advice and ‘just start’ – to begin creating something you truly believe will be the next big thing, you have to be optimistic. Otherwise, why start? What would all the time, money and effort be worth in the end?

3 voices entrepreneurs need to muffle

Article by Allon Raiz: Serial entrepreneur and CEO of Raizcorp

Making the decision to start your own business is daunting enough without the persistent and nagging voices that haunt us as entrepreneurs. There are three main categories of “voices” experienced by most entrepreneurs. These are the voices of your family and friends; the voices of the marketplace; and those voices that reside in your head.

In a risk-averse environment such as one which has a history of protected employment, one of the principal challenges for entrepreneurs is the perceptions of their families. It is widely believed that going the entrepreneurial route is dangerous and even irresponsible.

Efficiency is the key to surviving tough economic times as a small business – here’s what to consider

Small businesses have been put through the wringer in recent years. Sluggish GDP growth, fiscal constraints and rising costs coupled with load shedding have placed many small and medium enterprises (SMEs) under immense strain. Still, in the true spirit of resilience – a trait with which the SME community has become synonymous – many businesses have found inventive ways to weather the storm. Survival strategies vary, but the solution to sustaining a business in times of economic volatility lies in maximising efficiency.

Managing me: Gain the competitive edge

Article by Mike Anderson (NSBC Founder & CEO)

Show me a business where everyone lives and works by self-managing, and I’ll bet it’s a business destined for greatness. Make sure that the first person you are managing every day is yourself.

In business, we all know that management is everything. If you don’t manage your resources properly your business won’t succeed. It’s as simple as that. Needless to say, we spend a tremendous amount of time and energy on learning to manage our surroundings.

Unfortunately, we live in a world that is dominated by commerce and economics; our lives are dictated by it and with time, we end up forgetting to manage the most important thing – ourselves.

Trying to manage the outside world without managing ourselves is surely a recipe for disaster, so let’s get back on track with these 24 key reminders for “Managing Me”:

How to plan for 2024

Control what you CAN – whilst hedging your bets against what you can’t!

By Andy Hofmeyr – ActionCOACH Business Coach

We’re heading towards the end of the first quarter of 2024 and can be forgiven for feeling like it’s all ‘more of the same’. Ongoing corruption, economic volatility and a never-ending loadshedding schedule, coupled with uncertainty around this year’s national elections and the usual knock-on effects. Add to this the continuing geopolitical tensions that further drive costs and exacerbate uncertainties.

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