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Managing a business

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

Written by Alan Shannon (Executive of Small Business Services and Private Clients - 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.

Keeping your business powered up and connected to stable fibre during loadshedding

A reliable internet connection is no longer a luxury. The dependency on the web for real-time communication, data transfer, and operations is more important than ever. Slow or unstable internet connections can throw a wrench in the daily operations of a business, impacting not just productivity but the bottom line as well.

In South Africa, the problem is compounded by loadshedding, infrastructure damage or theft as well as unplanned power failures.

The power of integration

In the dynamic landscape of payment management, ALLPS-i stands as a beacon of innovation. It's a web-based front-end collection and payment management solution designed to simplify debit orders and payments. For standard workflows, ALLPS-i offers immense benefits, streamlining operations, and ensuring data accuracy. Users can effortlessly manage customer data, automate processes, and enjoy secure cloud-based storage. But for those requiring advanced workflows, integration is the key. Seamlessly integrate ALLPS with your existing systems, like a Debtor Management System, to unlock a world of possibilities.

Mobile commerce: the next frontier for local small businesses

Online sales in South Africa have been on a gradual increase since the onset of the pandemic, bringing the industry to over R30bn by the end of 2020. And, with mobile penetration in the country reaching unprecedented heights, mobile commerce or 'm-commerce' is on industry experts' watchlist, with retailers across multiple sectors looking to cash in on the trend. Local small businesses should not miss the boat of aligning with this growing direction as customer behaviour evolves.

Learn-i-Biz: helping business people understand their responsibilities

Learn-i-Biz, the CIPC e-learning platform launched in 2022, has been receiving positive feedback from an increasing number of those enrolled in the programme since it was launched. The platform is one of the tools aimed at empowering business and potential business owners with deeper knowledge and understanding of the responsibilities of a company director.

Mind matters: leadership secrets for high-performance teams

Navigating any small business brings its share of challenges, from financial hurdles to competitive pressures and even just the infinite daily grind. Amidst all of this, it's easy to overlook subtle yet critical factors - like mental health. Essential for both leaders and their teams, mental well-being is pivotal to your company's overall success. This is not an uncommon topic, but we’re adding a spin to it here in this article.

We’re going to explore the connection between mental health and mental performance and take a look at how different leadership styles can either support or hinder the well-being and productivity of individuals. Let’s dive in.

How accurate is your data? An SMB guide to data accuracy.

Data. It is estimated that there are 2.9 million emails sent per second, Google process 24 petabytes of data a day, and 20 hours of content is uploaded to YouTube every minute. There is a lot of data out there.  But what is the quality of the data? If we are making a critical business decision based on data, is it accurate? Let’s take a look at the quality framework of data, the importance of it being accurate, and how to craft a plan to ensure accurate data is obtained for your business.

Navigating entrepreneurship: the crucial role of mental resilience

For entrepreneurs with a natural drive to work autonomously, build a dream and make a meaningful contribution towards the economic development of their communities and country, nothing is more rewarding than launching and running a successful business. However, while the achievement of these ambitions is often spoken about in a positive light, there are several significant downsides. The demands of owning a small business can take an incredible toll on your mental health, which is why prioritising your wellbeing as an entrepreneur is vital in achieving long-term success.

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