24 Hour Survival Guide for Small Business
By Gavin Tonks
()
About this ebook
The strong do not always survive but those who plan well usually do, despite how strong of weak they are. Patience is what you need to be successful. You need to pace yourself and do what needs to be done to survive. By starting now you may just survive another month. Once you know you have all that is required, never ever give up as you will never be bound by other people's limitations again.
Gavin Tonks
As a practicing mentor since 1984 where I assisted small business in my Interior Decorating supply chain to Mentoring for International organizations, Banks and as my income bearing business I have written the articles for one reason. "The sins of entrepreneurs continue to destroy hopes and dreams because the fundamentals of ideas and business are not understood." The cry for independent business is a universal one and the issues of emerging Entrepreneurs are the same in Jamaica as in South Africa. I workshopped over 2000 emerging entrepreneurs in South Africa for Enablis and on unpacking my findings after each session country wide the mistakes, aspirations and assumptions remain the same. This is why I wrote the 24 Hour survival guide and many of my other articles. Entrepreneurs think they will be a new google, but google was created at a time and place and were basically 5 people out of 6 billion on the planet. Successful people I have met started small: one as a child picked up scrap metal along the road with a small cart and when I met him he owned a multimillion dollar scrap metal company. Another worked as a house cleaner to buy chips and sweets to sell and saved the seed capital and eventually had her own retail supermarket. Entrepreneurship is a skilled and demanding profession. It requires competency and the ability to sell. You need to sell yourself, your ideas, your business and your products. No one is coming to save you with money, make it yourself it is a far more satisfying journey. Loot at the series 'The Profit,' for instance and see how simple fundamentals escape business owners impacting on their ability to run successful business. Entrepreneurship is a journey and begins with your first sale. I had a shop at 16, I started a huge open stall market in the City I lived in, at 18. I was the youngest Branch manager of a large retail Chain store at 24. I have worked in China, India, UK and Ireland. I embraced change and failure and just kept on adapting. I worked for Dr Nelson Mandela. Even I can do with my own advice at times. I am now with a company who is at the forefront of the new Cannabis Industry because of my experience and knowledge. The fundamentals of successful business do not change and are highlighted in the 24 Hour survival Guide for small business. Good Luck on your journey Yours sincerely Gavin Tonks – serial entrepreneur
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24 Hour Survival Guide for Small Business - Gavin Tonks
24 Hour Survival Guide By Gavin Tonks updated 2023.
24 Hour Survival Guide for Small Business
Revised Version 3
2023
Written by Mentor Gavin Tonks
24 Hour Survival Guide for Small Business
Gavin Tonks
Published by Gavin Tonks at Smashwords Copyright 2009 Gavin Tonks
ISBN Number: 978-0-620-54661-4
Barcode: 6009691421396
Date: 03/03/2009 revised 25/09/2012 Words approx. 30605 Author: Gavin Tonks
https://www.facebook.com/groups/mentoringsurvivalguide/ Graphic Design: The Design Trap, http://www.designtrap.co.za
This e-book is licensed for your personal enjoyment only. This e-book may not be re- sold. If you would like to share this e-book with another person, please purchase an additional copy for each person you share it with.
Thank you for respecting the hard work of the author.
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tmp_c8bde530e0ab557de1a79368c28b25cc_mKBQl__html_196bdd10.jpgContents
Dedication
Preface
Introduction
Chapter 1
Genesis: And in the Beginning was the Idea
Chapter 2
Your Business Case: Developing Your Business Plan from the Business Case
Chapter 3
The Strategy Plan: Reaching Your True Business Potential
Chapter 4
Ask for Business: Show No Fear or Shyness
Chapter 5
Attitude: Adjust Your Attitude – First Aid for Your Business
Chapter 6
Opportunity: Cast Your Net Around
Chapter 7
tmp_c8bde530e0ab557de1a79368c28b25cc_mKBQl__html_7a1998f3.gif Use Your Network: Building Your Business relationships
Chapter 8
Do Your Homework: Take a Look at the Playing Field
Chapter 9
Weigh Your Options: Taking Long Hard Looks
Chapter 10
Minimize Risk: Do Not Take Unnecessary Risks
Chapter 11
Simple Solutions: Do Not Buy Marble If all you can afford is Mud
Chapter 12
Cutting Costs: Cash is King
Chapter 13
Sharing the Burden: Delegating Tasks
Chapter 14
Consider Employees’ Input: Creating a Platform
Chapter 15
Creditors: Negotiating with Creditors
Chapter 16
Debtors: Negotiating with Debtors
Chapter 17
Business Acne: The Preventable Business Infection
Chapter 18
Business Depression: Trade Your Way Out
Chapter 19
Stress: Coping and Staying Focused in Business
Chapter 20
Business Self-esteem: Be Confident and Positive
Chapter 21
Healthy Business: Toning up and slimming down
Chapter 22
Perseverance: Believe in Your Business
Chapter 23
Never give up: Getting up One More Time
Chapter 24
Survival: Image is not Important, Survival is
Chapter 25
Surviving Today: How to make it into The New Month
Conclusion
About the Author
#####
Dedication
I dedicate this book to those who have chosen the high road and are taking control of their Entrepreneurial destiny.
To the over two thousand entrepreneurs I workshopped that made this book happen.
To Tharine, the graphic designer who strives each day towards successful business, may you inspire many to do just that!
To all the Small Business owners who have been inspired by my mentorship and writing and for letting me know as well.
#####
Preface
Welcome to The 24-Hour Survival Guide for Small Business Entrepreneurs.
This book is a practical resource designed to help you navigate the challenges of running a small business. In the ever-changing landscape of entrepreneurship, it is essential to equip yourself with the right mindset, strategies, and skills to thrive. Each chapter of this guide will delve into a specific aspect of entrepreneurial success, providing valuable insights and practical advice. By implementing these strategies, you can enhance your chances of success and overcome the obstacles that come your way. Get ready to embark on an empowering journey towards small business excellence.
Top of Form
The Entrepreneurial Road is truly a hard road where you need to develop skills and attitudes coupled with experience, to tread where angels fear to go.
Unlike those who are blessed with opportunity and an easy road, I have not only seen the weeds at the edge of the road but I have had detours, which took me into oncoming traffic lanes.
Life is a lesson, so learn it. Take what life offers and enjoy every moment that nature gives. Start every day by getting up and being what you want to be - take no prisoners. Begin each day with a mantra of "how much successful business, am I going to do today?
Let us become a great Entrepreneurial Nation with creativity and determination, embracing integrity and humility as Nelson Mandela had done.
If electricity, interest rates, rising costs, the petrol price and all the other negatives are driving you to despair in your business, then you need to follow this quick survival guide.
Good advice is timeless and many entrepreneurs fail because they are not equipped to succeed, it is a sad fact.
Conditions in Business are tough – only the toughest survive!
#####
Introduction
Welcome to The 24-Hour Survival Guide for Small Business Entrepreneurs.
Over the past forty years, I have drawn strength from certain attributes and statements that not only helped me in my own darkest hours but also served as reliable tools in assisting the numerous small businesses I have mentored. It is with great pleasure that I share these insights and experiences with you in this guide.
The information presented here is relevant to all small businesses. As you navigate the unpredictable terrain of entrepreneurship, you will encounter business cycles of varying toughness. It is during these challenging times that the steps outlined in this guide will serve as a lifeline, offering valuable guidance to help you survive and thrive.
In addition to the advice provided, I encourage you to explore the vast array of web resources available today. As you journey towards becoming a peak-performing business entrepreneur, conducting research on various topics will contribute to your knowledge and growth.
I invite you to delve into this guide, discovering the strategies and insights that can empower you on your entrepreneurial path. May it not only provide you with enjoyment but also serve as a springboard, propelling you towards the success you envision for your business.
These attributes and statements have not only given me strength in dark hours, but have proved to be reliable tools in assisting many small businesses I have mentored over the past twenty-five years.
The information contained here is relevant to all small business. You will find some business cycles are tougher than others are and during these cycles the following steps will help you survive those tough times.
#####
1 - Genesis:
And in the beginning was the idea…
Not every idea has the potential to develop into profitable business.
We all too often confuse the words, idea
and business.
An idea is a thought process, a dream or a concept that is perceived in the conscious part of the brain as having some commercial worth.
Ideas on their own in the business world typically have no value and even Richard Branson has publicly thanked all the people who have sent him good ideas.
Ideas are ten a penny and not every idea is reinventing the wheel. McDonalds and Burger King did not invent a hamburger; they just found ways to make them faster and to sell more of them quicker than anyone before.
Many people have ideas, some brilliant and others just plain stupid, like the guy who had a micro trading store and thought that his business would in two years be big enough to give a large retailer [doing millions of dollars of turnover] a serious run for their money, after a $50 000.00 financial injection [when one store costs more than a million dollars to set up].
So, what’s your idea? Is it a new cell phone, an application or a website? Every person dreams of the perfect business that will assail them with wealth, yachts and Lear jets. Sadly, many will not see those dreams come true as we deal with two distinct personalities:
The Salesperson: Armed with the gift of persuasion, the salesperson can sell anything. They excel at pitching ideas and captivating others, but sometimes their focus on sales overshadows the necessary considerations for a successful business. They may overlook aspects like after-sales service, delivery logistics, and other critical components. A prime example is the online sales model, which may lack adequate customer support when problems arise.
When customers encounter issues requiring assistance, they may find themselves without accessible support channels. Although salespeople play a crucial role in business, they often need a comprehensive team to address the complexities of the overall operation.
Salespeople are a cog in a complex business environment and few salespeople make it on their own in business, despite the fact that having a sales personality is critical to being a well-rounded business person.
The Entrepreneur: Driven by a vision and fueled by passion, the entrepreneur embodies the spirit of turning ideas into reality. They create a plan to achieve their goals, determined to bring their product to market, make sales, and ensure financial success. With unwavering dedication, the true entrepreneur sees every setback as an opportunity for growth. They know that persistence and a strong desire for success are key. By carefully planning achievable steps aligned with their overall vision, they can overcome obstacles and turn challenges into advantages.
In this guide, we will explore the transformative journey from idea to business. By embracing your entrepreneurial spirit and developing a strategic approach, you can navigate the path towards building a thriving enterprise. Together, we will delve into the essential steps required to bring your idea to life and overcome the hurdles along the way. Get ready to embark on a fulfilling and rewarding entrepreneurial adventure that will set the foundation for your future success.
The true entrepreneur knows he can achieve his goal with well planned, achievable steps within the concept of his overall vision. He will eventually stand in the waves and turn them to his advantage.
Many entrepreneurs are driven by their unwavering belief in their ideas, have taken substantial risks to bring them to fruition. They have bet everything they have, including their homes, and shown the determination of Job to turn their vision into a successful reality.
On the other hand, there are those who hope that their idea alone will attract the attention of a wealthy philanthropist. They anticipate someone saying, I have been waiting my entire life for this idea. Here is a generous sum of money. I will invest more and ensure its tremendous profitability. And out of the goodness of my heart, I will let you earn more because you originated this idea, despite my contributing nothing to its success.
But if you were in their shoes, would you make such an agreement? So why would you expect someone else to do so?
The reality is that success in business is rarely handed to us on a silver platter. While there may be rare cases where external investors recognize the potential of an idea and provide significant financial support, these instances are the exception rather than the norm. The responsibility for bringing an idea to life and transforming it into a profitable business rest primarily on the shoulders of the entrepreneur.
It's essential to understand that building a successful business requires hard work, perseverance, and a willingness to take risks. Entrepreneurs must be willing to invest their time, energy, and resources to prove the viability of their idea and generate meaningful returns. It is through their dedication and strategic efforts that they create opportunities for success.
A business must always make profit to sustain both you and the company since the business is created as the vehicle to drive the business that is derived from the idea.
A business is an entity that drives commercial transactions and it exists to generate income. The business has a market, a plan and a method to ensure that people who like the business will support it with their financial transactions. These transactions generate turnover, if we are lucky profit
and if you are seriously fortunate, wealth and some form of valuable asset.
If you wish to sell, trade or generate income from your idea, it will require planning, a business case to show viability and a presentation. The presentation highlights information from the business case and how you think it will perform as a business.
There are fundamental questions that must be asked with any idea:
As an entrepreneur, it's essential to ask critical questions and evaluate the viability of your idea. Let's delve into these important considerations:
How many people will buy into the idea? Understanding your target market and assessing the demand for your product or service is crucial.