Preparing your business for the future
It is also important to make sure the public can trust you and that you are the face of your company.
This week Margaret Hirsch, Executive Director of Hirsch’s and co-host, ActionCOACH’s Marlene Powell invited guest speakers Robyn Hey from RH Attorneys and Mark Sham from Suits and Sneakers to discuss ways to future-proof small businesses.
Robyn, a successful lawyer who runs her own practice, spoke about the legalities with regards to small business protection and the steps that should be taken before considering liquidation.
“Liquidation should be your last resort, I have seen so many companies that just needed a good marketing strategy simply close down because they gave up.
“You also need to plan correctly. Bring in a business coach and formulate a proper business plan – this will take your business to the next level,” said Robyn.
Entrepreneur, writer and speaker Mark also gave some advice on how to prepare your business for the future and where to start.
“People will complain about working for a boss but when you ask them what they want to do they never know.
“It is important firstly to know what you are passionate about. Then structure a business around that and how you can make money from it while providing value to the outside world.
“If you get this balance right you will be happy and make money. This is true with all successful companies.
“There are many companies that fail to see how they successfully can structure a business around this,” said Mark.
Margaret added that it is also important to make sure the public can trust you and that you are the face of your company. “People will buy from people they trust and like,” she concluded.
Marlene highlighted a few points that business owners are getting wrong and indicated that a lot of business owners are trying to do too much on their own.
The workshop closed with Margaret asking each speaker for their advice to students who are finishing their matric this year.
The next entrepreneurs workshop entitled ‘Marketing and the Media’ will welcome a team of media experts such as Anisa Khan from the Citizen, award-winning editor Danielle Weakley from GO HUSTLE (a magazine for young entrepreneurs) and Brenden Cavanagh from East Coast Radio.
