Distressed Business

Is Business Rescue being used as intended?

Tuesday, October 16th, 2012
South Africa has recently received its second sovereign credit rating “downgrade”.  If businesses are going to be struggling within this economic climate it will mean lower revenue for the state, which in turn will mean that the state will be unable to fund its development/infrastructural plans, which means that unemployment will probably incr...Read more

Separate Personal Expenses from those of your Business.

Tuesday, March 1st, 2011
This is the next in the series on some of the causes for business distress. This is one which many business owners never consider. I think it would be fair to say that most owners of small businesses confuse the finances of their businesses with that of their own personal expenses. Many don’t draw a distinction between the two at all. Thi...Read more

What do I have to manage? Supplier Support.

Wednesday, October 20th, 2010
Some of the most important role-players in your business are your suppliers. If they don’t supply on time it can disrupt your business and cost you money. If they don’t supply at all because you haven’t paid your account, it could be terminal! Most small businesses that are having financial problems, have very poor relationships with...Read more

What do I have to manage? Customer Service – Part 3

Saturday, September 25th, 2010
In previous newsletters I have drawn the connection between the level of engagement of your employees with that of your customers. Its not really rocket science! I can heartily recommend a little book by Mark Sanborn called “The Fred Factor” which goes directly to the heart of this issue. Based on a true story and an actual person called F...Read more

What do I have to Manage? Customer Service – Part 2

Friday, August 27th, 2010
In the last newsletter, I explained all about the fully engaged customer, with a sample from the internet based business known as Zappos.  In this newsletter, I’ll continue with the levels of engagement – as categorised by the Gallup Organisation, but to maintain continuity, I’ll repeat the ‘fully engaged’ category.   (In the book “F...Read more

What do I have to manage? Customer Service – Part 1

Wednesday, August 18th, 2010
Up to now, we’ve had a good look at a few basic, but absolutely essential aspects of a business that you, as the business owner, simply have to manage on a daily basis.  So far we’ve covered: Cash flow – because this is where reality bites! Being able to monitor your trading performance, through a simple but eff...Read more

What do I have to Manage? # 5 – Hiring & Keeping Good employees – Part 2

Saturday, June 5th, 2010
So what’s the best way to go about employing the right people for the job, and once you’ve employed them, how do you keep them? The following statement, though a little harsh, is a generalization: Small business owners in South Africa do not tend to treat their people well.  Many employees are generally regarded as just labour...Read more

What do I have to Manage? # 5 – Hiring & Keeping good employees – Part 1

Monday, May 17th, 2010
Personnel management is not usually very good in the small business environment. Without a doubt, this is one area that small business owners do not pay enough attention to.   At the same time, I must emphasise that it is usually not by intent – it is usually by oversight, or even ignorance of the basics!  THREE AREAS OF CONTENTIO...Read more

What do I have to Manage? # 4 – Be Prepared!

Friday, May 7th, 2010
 It’s been a few weeks since my last newsletter in this management series.  April has been a strange month with all the public holidays – especially here in South Africa.  The worst part of it is having these holidays in the middle of a week, as it really disrupts productivity.  Most of my staff decided to take a day...Read more

What Do I Have to Manage? # 3 – The Basics.

Saturday, April 24th, 2010
 EMPLOYING THE RIGHT PEOPLE TO MAINTAIN THE RECORDS. In this instance, I am referring to employing suitably qualified and experienced people to maintain the financial records of the business on a daily basis.  Far too often, I come across someone in the accounts department of a business, who has some form of general office experience b...Read more