This weeks start-up idea: Cosmetic Tourism

This idea has been around for a while and is fast gaining momentum around the globe. With more and more people from countries like the UK and USA opting for affordable cosmetic surgery abroad, cosmetic clinics in countries like Brazil, India, Malaysia and South Africa are focusing there marketing outside of their own borders and cashing in hugely in the process. In the USA alone, it is expected that more than 500 000 people will go abroad to have their teeth, noses, breasts, hips and other parts of their bodies tailored to their needs.

The biggest challenge for medical tourists now are to find reliable and skillful clinics to entrust their bodies to. As we already live in a country with a very high reputation and comparatively low prices for cosmetic surgery, why not start an agency to put clinic and patient together.

Upside: Apart from the already existing high reputation and low prices South Africa can offer cosmetic tourists, who can resist the opportunity to recover from a draining operation in the one of our game reserves, 'platteland' bed and breakfasts or seaside resorts.

Downside: Advertising abroad is expensive and it may initially be challenging to build your reputation if you are not physically present.

Verdict: A great business idea that seems ideal for the South African entrepreneur with gusto, foreign contacts and a thirst for earning foreign currency.


PLease contact me should you need further information and support with this idea.

So you don't want VC funding?

So you're starting your innovative new venture but you're not so keen to give away a share of your company in exchange for funding? Good for you! Despite the obvious benefits of Venture Capital investment into your firm, may entrepreneurs either opt not to or simply don't qualify for this type of funding. All is not lost and there are many ways for you to raise the necessary cash to start with.
Lets look at this process in the context of the various stages that you may face:

Stage I. When you've got nothing but an idea and ambition, you've got limited funding options:
1. Personal savings. Crack open the piggy banks and max out your credit cards.
2. Beg and borrow. Call rich friends and relatives.
3. Loan. Try getting a bank loan or credit union loan. Just remember that you'll have to pay this off continually.
4. Angel investors. Look for rich individuals who'll take the risk for potentially high rewards.
5. DTI and SEDA loans. The Department of Trade and Industry as well as SEDA provide a number of different loan schemes.

Stage II. Once you understand your market and have built a product that customers want, you have more options:
1. Customer investment/pre-sales. If your customers feel they need your product enough, they may invest in you.
2. Selling services. Have your team act as paid consultants and provide onsite services for the first few months of product implementation.

Stage III. By the time you have gone through the trials and tribulations of getting your product to work well, meet most customer needs, and address a sufficiently broad market, your options include:
1. Strategic investment. You may be able to find a strategic partner whose interests are aligned with yours.
2. Selling for survival. Do what it takes to close deals.

Stage IV. When you've got a great product, a business model that works, and a management team that is itching to take over the world, you will need big money. Here are your options:
1. Acquisition. It may be best to cash in some chips and become part of a bigger company.
2. Reverse merger. Consider this shortcut to an initial public offering (IPO). It gives you access to hedge funds and private equity.

Stage V. When your company has achieved critical mass with steady and predictable sales growth, it is time to consider an IPO. While you plan and prepare, you can consider this option. It doesn't require giving up an interest in your company:
1. Mezzanine financing. You can use high-interest debt financing to tide your company over until the IPO.

Be Sure You're Working ON Your Business, Not IN It

Many of the people who start small businesses fall into the "getting ready to get started" trap. They end up working in their businesses instead of on their businesses. Perhaps you've fallen into this trap. You re-arrange your desk. You clean up your files. You reposition the phone, the computer and the printer. You rearrange the furniture in your office. You sharpen all your pencils--three times. And then you go through this routine, with modifications, again, and sometimes again. And if someone asks what you're doing you say, "I'm getting ready to get started," or words to that effect. Many (maybe most) people go through this stage when they start a business, and it's a challenge that you must resist. If you're still getting ready to get started the second week into your business, you're probably never going to get started.

Even experienced business owners occasionally fall into the trap of working in their businesses when they need to be working on their businesses. . . . No matter how long you've been in business, and regardless of the achievements you may have enjoyed in the past, you always have to look out for this trap.

Here's a test that can help you determine whether you're working on your business or in your business. Stop whatever you're doing and ask yourself these questions:
Is what I'm doing now directly related to achieving one of my goals?
Will what I'm doing now help me build my business?
Will what I'm doing now result in a sale?
Will what I'm doing now improve one of my skills?
Could someone else do what I'm doing better or just as well?
Am I reinventing the wheel?
Could I wait and do this during non-business hours?
Be honest when you answer these questions. You can try to justify rearranging your office by claiming that doing so will improve your productivity. But can you justify rearranging your office during your normal business hours? Not if you answer honestly. . . . Whatever you're doing, if you're doing it during business hours and it will not lead to the fulfilment of a goal or result in building your business (such as by making a sale), you're most likely working in your business and not on it. Don't get caught in that trap.

I thank the contribution from Saurabh Shukla

Top 10 Venture finance sources – Manufacturing

This week as part of my series on Venture Finance for entrepreneurs and small business in South Africa I'm publishing a Top Ten list for manufacturing start-ups. Do contact me should you need any guidance of how to approach these firms.

Most of these organisations will be happy to talk to both new and existing start-ups.

As per usual, the information provided offers the Name, contact details, website/email and contact person that should be approached.

Manufacturing Expansion Financing (from IDC)
Financing aimed at entrepreneurs wishing to develop or expand their manufacturing business and create new or additional capacity.
Development Agency, Financial Institution
www.idc.co.za
PO Box 784055,Sandton,Johannesburg,2146
19 Fredman Drive,Sandown,Johannesburg,2196
callcentre@idc.co.za
Ms M Bransby
0860-693 888



Agriculture Programme (from DTI)
The agriculture and agro-processing sector provides excellent opportunities for SMME, WE and BEE development.
Key projects include aquaculture development, food control, etc.
www.tisaglobal.com
PO Box 902,Groenkloof,Pretoria,0027
piet@isa.org.za
Mr P Verwey
012-428 7069



AMB Private Equity Partners
AMB Partners business include traditional private equity, leveraged transactions and equity finance. Private Equity Company
www.ambpartners.co.za
PO Box 786833,Sandton,Johannesburg,2146 The Forum, Maude Street, Sandton,Johannesburg pep@amb.co.za
Mr Z Lusengo
011-303 2900


Capital Goods Export Financing (from IDC)
Financing aimed at manufacturers and providers of exported capital goods or services
Development Agency,
Financial Institution
www.idc.co.za
PO Box 784055,Sandton,Johannesburg,2146 19 Fredman Drive,Sandown,Johannesburg,2196 callcentre@idc.co.za
Ms M Bransby
0860 693 888



Clothing and Textiles Programme (from DTI)
The textile, clothing and footwear sectors are important sectors to all developing countries.
This programme supports the industry Government
www.tisaglobal.com
PO Box 902,Groenkloof,Pretoria,0027 SABS Building, No 1 Dr Lategan Road,Groenkloof,Pretoria thembekam@isa.org.za
Mr T Mlawuli
012-428 7915


RMB Ventures Limited
RMB Ventures is Rand Merchant Banks on balance sheet private equity investor
Private Equity Company
www.rmb.co.za
1 Merchant Place, Corner Fredmand Drive & Rivonia Road,Sandton,Johannesburg rmbventures@rmb.co.za
Mr J Archer
011-282 8203


Royal Danish Embassy
A donor providing developmental assistance.
Donor
PO Box 11439,Hatfield,Pretoria,0028 1166 Park Street,Hatfield,Pretoria knujoh@um.dk
Mr K Johansen
012-430 9340


Royal Netherlands Embassy
A donor providing developmental assistance.
Donor
825 Arcadia Street,Arcadia,Pretoria,0002
wepka.kingma@preminbuza.nl
Ms W Kingma
012-344 3910


SA Diaspora Network
A network of SA professionals working/living abroad, assisting in economic growth and development in SA
www.gsb.uct.ac.za
Graduate School of Business University of Cape Town Private Bag,Rondebosch,7701 Graduate School of Business Breakwater Campus Portswood Road,Greenpoint,Cape Town
cie@gsb.uct.ac.za
Dr M Herrington
021-406 1423

Please let me know if you know of any additional venture sources that I should be mentioning here.

New Free trade areas great news for import and export Smme's

Not only are most exporters laughing all the way to the bank with the weakening Rand but both export and import are soon to receive a huge shot in the arm with new free trade agreements with South America and India to be announced shortly. As those of you who have dabbled in the two above industries will know import tax really dies eat into your profit margins, no matter what product it is that you are importing or exporting.

This good news is also not just limited to entrepreneurs in the import and exports industries but also to our economy as a whole and consumers around the country. In an ideal world these savings in tax will be passed on to the consumer and not end up simply lining the pockets of the fat-cats.

We are happy to publish this article via Japan's Kyodo News. Happy trading!!

Click here for the pretext to this one: http://www.sabusinesshub.com/webforum/viewtopic.php?p=319#319

Viva entrepreneurship!!

Traditionally entrepreneurs, not only in South Africa but everywhere where I have worked have three pet hates. First of all and the most popular of all is of course the tax man. Who do you know who does not have tax issues? Secondly, and especially in SA, off course we have the banks, who increasingly look like they, for some or other reason see small business as a huge threat to their own multi billion profit margins.

Third but not least by a long shot is the issue of red tape, weighing small business owners in all industries, but some more than others, down despite their, already against all odds, existence. Increasingly, when a small business or entrepreneur does succeed, it seems more of a miracle than hard work and clever business acumen. Luckily we as entrepreneurs all have inch thick skin, one track minds and a relentless will to endure and succeed, no matter what the odds. Viva entrepreneurship!!


Click here for the pretext to my rant: http://www.sabusinesshub.com/webforum/viewtopic.php?p=318#318

Do what you're good at

Although niche marketing in South Africa is not being exploited to the extent it is in the US and Europe, it certainly is on the way.

On a regular basis, a new business owner or professional just starting out, will consult with me about "their Niche". Some consultant may have convinced them that in order to further develop their business, they have to identify a specific product and market that as their "niche".

In some cases this could be relevant but more often than not this can be an over simplification of how things work in the real world.

As Small business owners, we should remember that its not always necessary to put "all our eggs in one basket" and sell only one service or provide only one or two products. In fact, our real advantage of being small business owners lies in the fact that we are flexible, innovative and can customise our products and services to what sells at the time.

In a small business, we as owners can respond personally and find the perfect solution for a customer with an unusual request or a special need. Never under-estimate that tremendous advantage!

The grain of truth in the "you must specialize" motto is that to grow your business you MUST focus on what you do best. Some products or services, or some aspects of the business simply "suit" or fit you more than others. Talents show up in different ways. Even things like the location of your business, or the gender, age and training of your staff will create certain strengths, while also creating a parallel set of weaknesses. In all my years of starting and running businesses as well as working with those who do, if I have learned one thing it is to follow my passion. Its much easier and immensely more fulfilling to do what you love and align your self with your values.

To build your business, focus on what you do best. Specialise and advertise the things you enjoy most, or that you feel passionate about. Make a virtue of your natural advantages and specialize in those things.

Top Ten Lies Told by Entrepreneurs to their Investors

- I just had to publish this great pic from one of my favourite cartoon gag sites to accompany this post:

Immage sourced from http://tropicalboy.m6blog.m6.fr/archive/2005/01/index.html

1. We will be ready to launch in x...

Uh huh. - New firms launch dates are normally at least 6 months away from their projected dates .. and thats if you're lucky.

2. If we could only get this (piece of equipment etc) then results will change...


Big if.. and normally just a excuse on the way to the next excuse.


3. Things should pick up after x...

Yeah, it should, but WILL IT? Investors know that there is very little value in the word SHOULD .. thats why they are where they are!!

4. I guarantee you that...

Action speaks loader than words? The more desperate the situation, the more emphasis on guarantees and promises.


5. If I could just...

If it was really that easy then why haven't you by now?


6. We have a number of real prospects in the bag...

It ain't really done until the client's check has been cashed and the services/goods have been delivered.


7. We're very close...

Close to what, reality? Dream on.


8. We just need one more round of bridging finance...

Probably one of the most common lies told. VC's and investors know that you will probably be having the same conversations a few months down the line. The only reason that they are still investing is that your business's potential is higher than their risk.


9. If we have x clients in the first year...

Yes whatever... using this type of language will tell your investor that you done have a clue and are living on a prayer.


10. No one understands what I am trying to do...

Very likely, but that means you're really an entrepreneur. If they DID understand, you wouldn't have much to offer, then, would you?

Have any more.. please send them on or post them here.

So you still don't think you need a business plan huh?

New and inexperienced entrepreneurs I work with are forever coming up with mostly lame excuses for not having a business plan. When it comes to starting a business, the old saying really does apply with amazing consistency: 'failing to plan is planning to fail'.

Here are some of the most common excuses - and a bit of reality to boot.

Lame Excuse 1: I don't need a business plan--it's just me!
Reality: Successful Solo Entrepreneurs know that the exercise of creating a business plan, really helps them think through all the critical aspects of running a business, make better business decisions, and get to profitability sooner.

Lame Excuse 2: I have to buy business plan software before I can start.
Reality: Business plan software can be helpful—but it’s not required. Software is more likely to help if you have a more traditional type business, like a restaurant or a typical consulting business.

Lame Excuse 3: I need to hire a consultant to write my business plan.
Reality: Your business IS you—and you need to be intimately involved with the creation of your business plan. A better strategy, if you think you need professional help, is to hire a coach or mentor—someone who can guide you in what you need to do, not do it for you.

Lame Excuse 4: The business plan templates I’ve seen have all these complex-sounding sections to them—I guess I need all those?
Solo Entrepreneur Reality: Your business plan needs to answer ten basic questions—that’s it! Don’t make things more complicated than necessary.
Lame Excuse 5: My business plan needs to be perfect before I can start my business.

Reality: If you have at least a first draft that answers those ten basic questions, you are ready to launch your business! Make your business plan a living, evolving document. In the startup stages, review and update your plan every 2-3 months. As you grow and stabilize, you can slow down the review cycle to every 6-12 months. All business plans should be reviewed and updated at least once a year.

Lame Excuse 6: I have to do everything I say I’m going to do in my business plan, or I’m a failure.
Reality: Think of your business plan as a road map for a trip. Expect to take some detours for road construction. Be flexible enough to take some exciting, unplanned side trips. And don’t be surprised if instead of visiting Mount Rushmore, you decide to go to Yellowstone, if that turns out to meet your vacation goals better!

Lame Excuse 7: A good business plan has a nice cover, is at least 40 pages long, must be typed and double-spaced…
Reality: As a Solo Entrepreneur, your business plan need only satisfy YOU. It might be scribbled on a napkin, on stickie notes on your wall, or consist of a collage of pictures and captions. It might be all in one document or scattered among several mediums. As long as you know it in your head and heart without having to look at it, and and it is easily accessible to you when you have doubts, that’s all that is necessary.

Lame Excuse 8: I don’t need a loan—so I don’t need a business plan.
Seeing your plan in black and white (or color, if you prefer!), can give a whole new view on the financial viability of your business. If “doing the numbers” seems overwhelming, remember you don’t need fancy spreadsheets. Just lay out a budget that shows where all the money is coming from (and going), and have an accountant review it for additional perspective.

Lame Excuse 9: My business plan is in my head—that’s good enough.
Reality: There is a real power in writing down your plans. Some schools of thought advocate that the act of writing a plan down triggers our subconscious to start working on how to manifest that plan. And, of course, it’s a lot easier to remember when you have it in front of you. And a lot easier to share and get feedback from your non-mind reading supporters.

Lame Excuse 10: Friends and family are the best sources of feedback and advice on my business plan.
Reality: As well meaning as our friends and family can often be, they just aren’t the best way to get honest, objective guidance. Instead, seek out folks that have specific knowledge that will help you, are willing to be candid with you, and that have a genuine interest in helping you succeed. A business coach is one resource to consider!

Main problem areas in small business

In my experience there are 15 main areas where Coaching is most effective in small business and and where it has the biggest effect on the bottom line. These are noted bellow. Of course every business has its own unique circumstances. For this reason the business owner/team will work in partnership with the Coach to address these issues in the most effective way. As you read the various points below, think of your own business and write down the unique issues that you can think of or identify.

1. Lack of response to customer needs/Fixation on product

2.Far too little emphasis on performance/Fuzzy accountabilities/People can't be managed

3.Status-quo management/ "Doing the best we can" and / Employees are not near capacity

4.Missing new opportunities/ Won't give up the old/ Business as usual is addictive

5.Trying to fix the wrong problem / The reactive mind jumps quickly / Source of problem is not visible

6.Too many balls in the air

7.Sales are flat & sales people are stuck./ We need better "x" to improve results

8.Expectations set too low / Managers reluctant to raise the bar / Owner wears down due to the one-on-one management approach

9.Complacency is tolerated

10.Lack of direction/Frequent changes in priorities/Too busy to sit and decide goals

11.High stress, frequent surprises

12. Owner cannot keep pace with growth

13.No compelling vision of the future

14. Top team is not together on things/Managers operate in a vacuum

15.Owner burnout /A dream business vs an unrewarding job /Endless cycle of sameness

Favorite reads: Leaders: Strategies for Taking Charge

Written by Warren G. Bennis and Burt Nanus, this is simply one of the best leadership books that I have read. Supported by the Financial times as one of the 50 best business books ever written, you simply cant afford not to read it if you are a business leader.

http://www.amazon.com/Leaders-Strategies-Collins-Business-Essentials/dp/0060559543/sr=1-1/qid=1157801265/ref=pd_bbs_1/104-6438948-6808761?ie=UTF8&s=books

Business idea of the week - Action Golf

Starting this week I will be bringing you the freshest business ideas from around the globe.

This weeks idea: Action Golf.
With South Africa becoming a golf haven and virtually every city and town now featuring a golf driving range why not take a leaf out of the popular (and profitable) action cricket idea and start a action golf arena in your area. This concept is being used with great success in the USA and UK by the developers of the idea, Top Golf and its sure to become a winner for an SA entrepreneur who gets in early.

The concept works on the basis that every shot is scored from a target on the course with the scores being fed back to computer scorecard in the players booth.

Upside: a real crowd puller with the first one created in the UK drawing 135 000 visitors in the first year.

Downside: Expensive to construct, with costs of around $5 mil to construct and projected break even in year 4 of operations.

Verdict: Fresh and innovative idea if you can find sufficient seed funding to support the venture. For the early bird who gets in first this can be franchised out through out the country, and hey - you can finally make Golf your living.

Top 10 Entrepreneurial Qualities that Cause the Most Problems

This is a extremely revealing list of qualities that make entrepreneurs great but which can also cause problems for this working with us. I personally recognize a number of these within myself and in many of the entrepreneurs that I work with.

This list was originally created by the now deceased Thomas Leonard. (www.thomasleaonard.com)

Enjoy - and please comment:

1. Can't focus, lots of ideas, runs in circles.
If the entrepreneur could focus, they'd be a bookkeeper (no offense to bookkeepers; I was a CPA for years). The entrepreneur's currency is ideas, often a flood of ideas. This is good. Encourage MORE ideas, don't try to pin them down. When they feel your support in challenging them to come up with more and BETTER ideas, the flow is restored and they'll find the one to really NATURALLY focus on. Really. The reason they can't focus is that they haven't yet flushed out all of the half-baked ones.

2. Not good with details.
Duh. Why should they be. Sure, it would be great if they would focus on details, and in fact, many entrepreneurial-types fail or have lots of stress (think ValuJet's CEO), specifically because they won't or cannot sweat the details. But given many won't deal with details well, suggest they give up even trying. Sure, this may create a mess, but challenge the entrepreneur to solve the mess as if the mess was a new business! That'll get 'em thinking! (Entrepreneurs are like kids; it's good to divert them.)

3. Feel odd, different, alone, strange.
Entrepreneurs are simply wired differently and they SHOULD feel this way, because it's TRUE and there is nothing wrong with it at all. In fact, if you can help the entrepreneur to relish their unique, contrary, leading edge ways, you'll help them feel better about themselves (their different-ness), which will increase the flow of ideas and success. Educate the entrepreneur to understand not just themselves as individuals but to understand about the species called Homo entrepreneurs.

4. Good at starting business, bad at running them.
This is very true of many entrepreneurs, but you know, many entrepreneurs think that they have an obligation to run their businesses and become a great manager. 90% will never be great managers; they shouldn't even try -- too much stress on everyone! The solution: Help the entrepreneur to set a "sell date" right now, so they know they're getting out and when! This relieves some of the pressure and also forces the entrepreneur to create a sell-able company vs one that is just a monument to their ego (and I mean this lovingly). It's essential that you and the entrepreneur get that there's no reason an entrepreneur can't start and sell 25 businesses. Selling is not failure; it's good business and lets the entrepreneur play instead of being saddled with responsibilities that they just don't want, but feel that they should have. Help the entrepreneur to "get" that they'd really rather NOT run their business and that they prefer to start new ones. This will turn a perceived weakness into a profitable strength.

5. Chaos reigns in the company.
This is fairly common, for several reasons. First, the entrepreneur LIKES chaos and is unlikely to attract or be able to hire a manager that is cross-platform: able to both manage the people/operations and ALSO be able to put up with the personality or constant flow of ideas and changes that the entrepreneur is likely to have. A solution is to design the company so that it can afford the chaos and the financial stress that chaos usually brings. A second solution is to educate the entrepreneur and staff that chaos CAN be good business and not to worry about it. Another solution is to ask the entrepreneur to solve the chaos problem by thinking of it as a foundering business that the entrepreneur has purchased. His/her job: Turn it into a profit center! This will get the juices flowing. Another solution is to help the entrepreneur to create fully automated and foolproof systems, usually managed by outside contractors or vendors who are not IN the business day to day. This works well, because it forces the employees/owner to use the systems, which are mostly computer based. Boys will be boys and it's better to save them from themselves sometimes! Systems do this. Remember: Creation IS messy! It shouldn't have to be, but often is.

6. They fail. And fail again.
This one's tricky if you look at the failing business as a problem or as a reflection on the entrepreneur's ability and strengths. In this case, their weaknesses were bigger than their strengths and the business failed. But, just like a kid has to fall a couple of times when learning to ride a bike, so do entrepreneurs fail as they learn how to be successful. Remember, it's the SPARK that the entrepreneur has that is the REAL source of profitability. It's just that there is often a learning curve as the entrepreneur learns to compensate for his/her weaknesses by delegating, outsourcing, maturing, and learning new skills. The Spark usually wins in the end. Note: Just like you can't really tell much to an adolescent because "they know it all," you often can't tell much to an entrepreneur because they DO know it all! Don't try to parent the entrepreneur; you'll lose. Just love them and be there when they fail. That helps them learn faster.

7. They exaggerate and are too optimistic.
This is good! Encourage the entrepreneur to exaggerate as much they want to. This is a reverse way to get them to tell the truth. It works. Exaggeration and pipe dreaming are as important to the entrepreneur as faith and believing are to Christians and other religions. It just comes along with the lifestyle. It's part and parcel. It's hard to have one without the other. Entrepreneurs are so out in front of the rest of us that they NEED to exaggerate how well things are going, in order to keep the faith -- hey it's lonely out in front (or in left field, depending on how savvy the entrepreneur is!). Exaggeration, pipe dreaming and denial are the tools and comforts of the trade of entrepreneurism. Sure, many entrepreneurs grow through this, but don't try to take away their blankie until they're ready. They need it.

8. Always at the edge financially.
This one's a toughie, because of the "unnecessary" stress it can cause to the entrepreneur, the business, employees, families. What I've sought to do is to educate the entrepreneur who is always at the edge that there is an emotional dilemma that they are trying to heal, via their business. The psychological source of this "always at the edge" may be an addiction to adrenaline, the pleasure/high of "pulling it off" at the last minute, or the high that victory brings, the need to be better than everyone else/compensate and even the inability to establish a reserve of cash and time so that they function without this stress. In my own case, I pushed so hard that I was always just barely making it, even though sales kept growing significantly. When I learned that this was because of self esteem (technically, a "havingness level" problem -- meaning that I couldn't let myself "have" what I was earning), I was able to make a couple of minor changes and establish such a healthy reserve that I am set for life (and can play with projects such as these Top Ten Lists!). The traps the entrepreneur will fall into is to increase their lifestyle just as quickly as their company grows. Mistake. But, back to why being at the edge financially is such a strength. It's because the entrepreneur has proven, time and time again, that they are resourceful, can survive and bounce back from adversity. This is GREAT! Now, direct the entrepreneur to direct this energy into creating a healthy savings account instead of leveraging so much, and you'll have a successful entrepreneur.

9. Family of the entrepreneur suffers.
Another toughie. You didn't just marry a man/woman or a businessman/woman. You married an ENTREPRENEUR! And he/she didn't come with instructions, warning labels or antidotes. Oops! If entrepreneurial genes were find-able in the DNA, they'd be considered a strong, strong drug. Reality aside, it's best that you develop your own strong interests and let your husband/wife do their own thing. You'll always be #2 (well, maybe #1 and a half). You can have a great marriage if you get this.

10. Sales dip.
Sales dip because the entrepreneur has turned over some or all of the sales function to others.
Take this as an invitation for the entrepreneur to get back to selling, where they usually shine.

Top10 reasons to write a business plan

1.Waste less time in getting your idea to market.

2. Helps you distinguish between good and less good ways to move forward including opportunities for growth.

3. Use it as a summary or selling point when pitching your idea to potential investors.

4. Helps you to focus on what’s important and what is not.

5. It will help you to stay motivated when times are tough.

6. Keeping your eye on the bigger picture will help with you and your team to think more logically. Help with problem solving and communication.

7. It will help overcome procrastination and frustration which will lead to reduced time to market.

8. Writing your ideas down will lead to new innovative ways to make your product/service a success.

9. Creating a business plan as part of a team will facilitate a shared vision and combined effort.10. Daily review will help you focus on what is important in the short and long term.

Why are we still seeing headlines like this one?

I'm constantly amazed that we still see so many article and newspaper heading affirming the role of woman in business. For many years now woman have been playing a major role nor only in business but also as entrepreneur and small business owners. Most traditional gender barriers have been made taboo by woman simply not allowing themselves to be held back by the traditional limitations set for them. Perhaps now its time to focus column inches on celebrating the successes achieved.

My comments follows this article in the

The Herald On line: Women do have a place in business

more details here http://www.sabusinesshub.com/webforum/viewtopic.php?t=238