Outsmarting the recession Presented by Riana Grobler

simple solutions for success simple solutions for success simple solutions for success Niche markets FranchisesFarmers Self- employed professional s( medical, legal, accounting, engineering etc) Family owned businesses (FOB) Small Office Home Office (SOHO) Selected niche markets

simple solutions for success simple solutions for success simple solutions for success Franchise industry 81% success rate compared to 25% of independent start-ups. Advantage of Franchising: Huge contribution to employment. Growing at a rate of 30% p.a. (according to FASA – Franchise association of South Africa). Growing trend to lower distribution costs & expand the business.

simple solutions for success simple solutions for success simple solutions for success Approx. 80% of SA businesses Family Businesses have outlasted governments, nations & cities FOBs wealth creator all over globe Family businesses (FOBs) in South Africa

simple solutions for success simple solutions for success simple solutions for success Family business association of South Africa - FABASA Old Mutual founding sponsor Mouthpiece for Family businesses in South Africa Independent body 1 st President is Fanie van der Merwe of Boplaas – oldest family business in SA – 9 th generation

simple solutions for success simple solutions for success simple solutions for success 11 point plan How to survive in the present economic climate

simple solutions for success simple solutions for success simple solutions for success Firstly Improve your market position/regain market share Consider - Reducing business expenses without compromising on quality. How? Suspending business class travel; Replace client dinners with breakfasts; Sharing office space/relocate to less expensive premises. Cut expenses, not quality of products/services

simple solutions for success simple solutions for success simple solutions for success 2. Motivate your staff Imperative to encourage, motivate & reward your top personnel; Beware of reducing staff only to cut costs; Have to train new recruits; Costly exercise in the long run.

simple solutions for success simple solutions for success simple solutions for success 3. Open discussion with staff Positive spin-offs: Employees offer advice, Support & even go extra mile. Inspire staff to work harder & smarter.

simple solutions for success simple solutions for success simple solutions for success 4. Meet customer needs Speak to existing and loyal client base; Continue satisfying their needs. Look for ways to add even more value.

simple solutions for success simple solutions for success simple solutions for success 5. Marketing strategies Present client base Increase marketing efforts – target existing clients Sell more to them Defined approach allow you to reduce marketing spend in other areas

simple solutions for success simple solutions for success simple solutions for success 6.Time is money Develop tighter work schedules Results-driven schedules designed to Improve profitability & Improve sustainability. Never mistake schedules, or activities for achievementJohn Wooden

simple solutions for success simple solutions for success simple solutions for success 7. New profit & growth opportunities Not in line with market needs; More of the same; Differentiate yourself; Create scarcity in an era of plenty; New cash cows; new niche markets. Your profits may be locked in your stock.

simple solutions for success simple solutions for success simple solutions for success 8. Cash is King – Debt destroy Economies are cyclical Plan for next recession – START SAVING!! Repay your business debt Get cash positive It is not how much you make that counts, but how much money you keep. Robert Kiyosaki

simple solutions for success simple solutions for success simple solutions for success 9. Trust yourself Keep your faith; Believe in yourself; Believe in your business; Always keep a positive attitude!!

simple solutions for success simple solutions for success simple solutions for success 10. Look at the big picture No room for the small-minded Singer, Loretta Lynn nailed it when she said: You gotta be first, best or different.

simple solutions for success simple solutions for success simple solutions for success 11. Consider assistance Specialist consultants: Accountants; Business consultants. To identify problem areas; Provide solutions to challenges. Acknowledge your problems & seek solutions. Your business is worth it!

simple solutions for success simple solutions for success simple solutions for success Six Simple guidelines for success 1.There is no secret to success, success is for everyone. 2.Your business will only get better, if you as the owner becomes better. 3.There can be no success, without sacrifice. 4.Success is achieved in millimeters not in kilometers. 5.The greatest enemy of tomorrows success is todays success. 6.Advice on success will work, but then you have to implement it. John C Maxwell

simple solutions for success simple solutions for success simple solutions for success STORY TIME

simple solutions for success simple solutions for success simple solutions for success Conclusion You hold the key to the success of your business. Think big! Believe in yourself & in your business & you will not only survive, but thrive into the future!!

simple solutions for success simple solutions for success simple solutions for success Thank you Riana Grobler