Seize the Business Opportunity!

You started your business because you want to make money, didn’t you? Well then, make the most of the opportunities you have: maximise your income.

During this past festive season I was struck by the different ways that businesses were run. I was impressed by some of them in our town: they planned for the rush, had enough staff on duty, had all the tills manned, and did their best to keep their customers happy. This is how you attract repeat business and thus grow your turnover.

But in some towns further away, some businesses were closed – and that at a time when they could have enjoyed more turnover than usual, because of the influx of visitors looking for exactly the kinds of services and goods that they offer. Why? Yes, I know you and your staff need a rest some time: but surely you can structure things so that you stay open at the busiest time, and take it easy at a different time of the year

A restaurant (not in our immediate vicinity) I went to with friends had only one waiter on duty. He was not coping with the number of clients. The, to make it even worse, he told us he could not serve all of us our drinks at the same time as there were not have enough glasses! The owners of this place lost out on lots of business; we were not the only people who walked out. If there had been good planning, this very attractive eating place would have increased their income considerably.

There are lots of opportunities in running a business and you can make an excellent income. But excelling at business is not easy: it comes with hard work, sweat, worry and sacrifices. You can’t always be free to party when everyone else is doing so.

If you really want to have a successful business, you need to look at where your main opportunities to earn an income lie, and be prepared to suffer inconveniences. With time and the growth of your business, the inconveniences may become less. Bite the bullet and go for it!


Source: Joan Du Plessis (Assistance in Document Analysis & Design)


Finansiële Nuus

News24 Business | SA household finances dipped in early 2024, but there's some GNU hope

Research from fintech group Altron has shown that the overall ability of SA's households to take on and service debt deteriorated in the first three months of 2024. [Read More]

News24 Business | Two-pot system | A withdrawal may push you in a new tax bracket - and other dangers

You need to understand the tax implications, as well as the long-term impact of withdrawals on your savings at retirement and the income those savings will provide. [Read More]

News24 Business | Should you put your business in a trust to save on estate taxes?

If you expect the business to grow significantly over time, putting it in a trust in its early stages can result in significant savings on estate duty when you die. [Read More]

News24 Business | Personal Finance | Does borrowing from your salary before month end make financial sense?

What do you do if you have an unexpected expense during the month or find yourself a bit squeezed? [Read More]

News24 Business | Two-pot withdrawals to attract transaction fees as industry seeks to recoup costs

Alexforbes says most retirement fund administrators will charge transaction and administration fees on two-pot savings component withdrawals as they look to recoup the cost of implementation from savers. [Read More]

Business Tech

A local municipality in northern KwaZulu-Natal is the only area in the world with six royal palaces.
Accelerate Property Fund, which owns South Africa’s largest shopping centre, Fourways Mall, is facing significant difficulties.
After blips caused by international anxiety, the rand should continue strengthening following the formation of the GNU.
New data from Standard Bank shows a concerning trend for those who earn over R25,000 per month.
Newly appointed Police Minister Senzo Mchunu outlined the department's commitments for this year, which include clamping down on organised crime.