Category: Business Strategy

How to Look For & Find “Problems” to Solve in Business

Often when starting a business entrepreneurs are told to find a problem to solve. Now last time I said that a problem is relative and can be anything. Yes, as South Africa’s cost of living spirals out of control the needs (cheap food and clothes) will take precedent and will be big business. The problem is that many problems already have solutions (existing businesses solving the problem) and when it comes to smaller problems the […]

Start a Sustainability Brand

A sustainability brand is a brand that undertakes sustainable practices in the workings of their business and champion them. I have spoken about sustainability numerous times in the past and incorporating this in your business (links below of page). I have also looked at starting a Social Enterprise Donating Some of Your Profits to a Good Cause. But today I look at building a sustainability brand. What is a sustainability brand Sustainability branding is the process of […]

Using Abstract Thinking in Business

Before I get to the main points of the plan I just want to quickly interject by bringing up a way of thinking we use in business. In business one of the most successful traits you can have is what is called “abstract thinking”, abstract thinking is defined as “the ability to think about objects, principles, and ideas that are not physically present” and that “abstract thinkers can’t help but think about how everything relates […]

How to avoid the taxi driver mentality in small business in South Africa

I recently spoke about the taxi driver mentality with regards to small business outsourcing and I want to expand on that. South Africa has a lot of problems, in my opinion, the main thing preventing an economic miracle is the mindsets of South Africans. Yes, we have some structural problems but mindset and mentality are big ones and I think school or courses should have a program to deal with these psychological barriers that are […]

Understanding Supply & Demand in Small Business

Supply and demand is an important concept in economics it is the relationship between the quantity of goods that producers wish to sell at various prices and the quantity that consumers wish to buy. It is the main model used in price determination not just with products and services but also in stocks and forex. It is often used on a macro level by economists, today I am looking at it on a micro-level when […]

Pitfalls to Avoid When Starting a Business in South Africa

When starting a business there is a lot to take into account, internal factors like your suitability for the business, external factors like the market. But there are some general mistakes that can be fatal for business Here are some things to watch out for: There is no competition (for a reason) Just because nobody else is doing it does not mean there will is a lucrative business opportunity with no competition. It might very well […]

Take This Time to Learn a New Skill

With South Africa officially into a 21-day lockdown period due to the COVID-19 coronavirus it will give us time to think where we come from and where we going. The biggest problem facing the majority of South Africans is a lack of skills and for some a lack of proper skills. Many people studied for a career of which there is simply not too many opportunities available. With many online learning platforms available especially affordable […]