Wednesday, 24 April 2013

INSPIRING SMALL BUSINESS STORIES 3

Liane Weintraub and Shannan Swanson of Tasty Brand 
 
 

With the current obsession with label-reading and organic ingredients, surely there must be dozens of organic baby food brands, right? That's what Los Angeles moms (and friends) Liane Weintraub and Shannan Swanson thought. But they were wrong. The pair started making organic purees for their own babies and couldn't believe how few options were available in stores. So Weintraub, 42, a local TV reporter, and Swanson, 38, a Cordon Bleu-trained chef and former cook at one of Wolfgang Puck's restaurants, got inspired to fill it. Today the brand is carried at Whole Foods, Fairway, Tops, and other chains. The company turned a profit four years after its founding, and it's on track for sales of $2.5 million this year.

INVESTORS DUMP GOLD, CRUDE AS GROWTH REALITY DAWNS


US stock futures were up 0,5%, pointing to a rebound at the Wall Street open after US stocks dropped more than 2% .N and the Standard & Poor’s 500 index had its worst day since November 7 overnight, after two bombs ripped through the crowd at the finish line of the Boston Marathon on Monday killing at least three people and injuring more than 100.

The MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0,1% after shedding as much as 1% to come closer to a 2013 low hit earlier this month, dragged down by its materials and energy sectors.

Markets were ripe for some correction after recent rallies. US stocks hit record highs, underpinned by optimism about a steady recovery in the world’s two largest economies, despite patchy economic reports. Oil and base metals were resilient despite supply capacities and investors piled up positions shorting the yen on expectations for bold monetary stimulus.

“Broadly, risk markets had been rallying at a pace not in line with a tepid global growth recovery, so in a way, they are trying to revert to levels more in line with fundamentals. It’s time to book profits from recent rallies and hoard cash,” said Naohiro Niimura, a partner at research and consulting firm Market Risk Advisory in Tokyo.

Cash gold and US gold futures plunged to their weakest in more than two years, pulling silver lower and dragging Tokyo gold futures down almost 10%.

AFRICA'S SUCCESSFUL WOMEN: DIVINE NDHLUKULA

Like I promised , here is more on Africa renowned successful Zimbabwean woman, Divine Ndhlukula.
Divine Ndhlukula is a Midlands State University MBA graduate and has a MBA (Honorary) from Women's University in Africa . She recently won the Africa Awards for Entreprenuership. Here is her journey to success in short.

After attaining an accounting diploma from an institution in Zimbabwe , she worked briefly for the government at Zimbabwe Broadcasting Corporation as an accounting officer. She went on to take up an appointment at Old mutual and later took up a job at a local insurance company in 1985. While working at these places,  she was always running around doing some small business on the side e.g.  was ordering clothes from Harare factories and selling them to colleagues at work. Within a short while, she had made enough money to buy an 8-tonne truck, which she hired out to a construction company.



As time went on, a situation cropped up where she had to rescue her  late father’s farm from being auctioned.  Her brother (who had inherited the farm according to custom) had taken a loan with a local bank which he had been unable to service, so the bank opted to auction the farm which her brother had tendered as collateral. As a result, she had to sell the truck in order to raise funds to rescue the family farm from being auctioned. The title of the farm was changed into her name and  she ventured into the farming business in 1992 and quit her job. She then took a loan against her house in Harare, to prop up the farming business and poured the loan in a maize crop that flopped due to a drought that season.

Thinking  of almost losing her house in 1995, she went back to her former employers,  Intermarket Insurance (now ZB Insurance), and asked for her job back. Since she had been one of their top performers, the company was happy to take her back. In no time she moved to the executive team.

"Let me say that right from a tender age, I had always told myself and everyone that I was going to start and run my own business which I always envisaged as a large business".

Hence the time she had stopped working, she had taken time to learn about all the critical elements of business as she had learnt her lesson the hard way. Among the various development programmes  sheenrolled for was an Entrepreneurial Development Programme which she did in 1995 and this  sharpened her entrepreneurial competences in a big way. She learned elements like opportunity seeking, to goal setting, business planning, networking etc.

Her quest to start and run her own company never dissipated and therefore, even as she was back at work, she started scanning at the various opportunities that she could see and think of.
Eventually in 1998 she  saw an opportunity in the security services sector. The opportunity was prompted by what she  had noted in this sector- a total lack of professionalism, quality and services that customers really yearned for. There were two distinct groups of security organizations: the first group was comprised of the long established and larger companies – there were about five of them at the time.

Words from her:

My advice to women all the time is: If you want a certain future, go out and create it. Conquer your fears as that is what enslaves most women. Opportunities are now galore.  We just need to roll up our sleeves, lift our feet, and walk through the door as no one will carry us.
Have a game plan and execute it with passion, determination and focus. Never mind that you are a woman. Do not think about that except as a competitive advantage. No one is going to give you anything on a silver platter. You have to work twice, thrice, five times as hard and do not lose focus. Work with your passion, it will keep you going and once you have a footing in your business, make the most of it and create the momentum and that will get rid of all the little challenges that may bog you down. Lastly, choose your team carefully and get rid of non-performers soon enough.

INSPIRING SMALL BUSINESS STORIES 2

Kenny Lao and David Weber of Rickshaw Dumpling 

Kenny Lao and David Weber met in 2002 when they were both students at NYU's Stern School of Business. They joined forces to enter the Rickshaw concept in a business plan competition in 2004. (They placed second behind a scrap-booking company that was never heard from again, as far as they know.) The partners opened their first store in 2005. Soon after, they opened a second, which quickly proved to be too ambitious. "It was a really dark time," Lao says. "It almost bankrupted us," Weber adds. After they closed that location, they decided to try a food truck—and the success was almost immediate. Their trucks produced the steady cash flow that made a second go at brick-and-mortar expansion possible. The business has grown to 70 employees, and the partners hope to double revenue this year.


INSPIRING SMALL BUSINESS STORIES 1

Scott Harrison of charity: water 

Scott Harrison didn't like the fact that things like toothpaste had better marketing campaigns than lifesaving causes. There were a few other things that he thought he could change. So at 30 Harrison founded charity: water, which brings clean drinking water to developing nations. One goal was to make sure that the branding wouldn't suck. When Harrison was 28, he had the realization that he was a "selfish scumbag" while on vacation in Uruguay. He thought he had everything he wanted: Model girlfriends, a Rolex, a BMW. But he wasn't satisfied. To date, charity: water has funded 3,962 water projects, providing access to clean, safe drinking water for 1,794,983 people in 19 countries. Harrison's goal now? Raise $2 billion to help 100 million people in the next 10 years.

FUNNY BUSINESS JOKES

What is Two and Two?
A business man was interviewing applicants for the position of divisional manager. He devised a test to select the most suitable person for the job. He asked each applicant, "What is two and two?"
The first interviewee was a journalist. His answer was "Twenty-two."
The second applicant was an engineer. He pulled out a slide rule and showed the answer to be between 3.999 and 4.001.
The next person was a lawyer. He stated that in the case of Jenkins v Brown, two and two was proven to be four.
The last applicant was an accountant. The business man asked him, "How much is two and two?" The accountant got up from his chair, went over to the door and closed it then came back and sat down. He leaned across the desk and said in a low voice..."How much do you want it to be?"
He got the job.

Quotable Business Humor

When you make a mistake of adding the date to the right side of the accounting statement, you must add it to the left side too.
Accountant's Maxim

There's no reason to be the richest man in the cemetery. You can't do any business from there.
Colonel Sanders

Nothing is illegal if a hundred businessmen decide to do it, and that's true anywhere in the world.
Andrew Young

The two most beautiful words in the English language are 'check enclosed'
Dorothy Parker

Success is simply a matter of luck. Ask any failure.
Earl Wilson

Advertising is legalized lying.
H. G. Wells

If you owe the bank $100 that's your problem. If you owe the bank $100 million, that's the bank's problem.
J. Paul Getty

We were hoping to build a small profitable company; and of course, what we've done is build a large, unprofitable company.
Jeff Bezos (1964-) U.S. Businessman
 

Behind every successful man lurks a truly amazed ex-mother-in-law.
John Chrusciel

Catch a man a fish, and you can sell it to him. Teach a man to fish, and you ruin a wonderful business opportunity.
Karl Marx

I used to sell furniture for a living. The trouble was, it was my own.
Les Dawson

Hope you got the humor!

APPLE PROFITS DROP FOR FIRST TIME IN DECADE

Apple reported Tuesday that its quarterly profit dipped for the first time in nearly a decade as it squeezed less money from its champions in the competitive smartphone and tablet markets.The maker of iPhones, iPads, iPods, and Macintosh computers stepped in to bolster its stock price by announcing a plan to more than double to $100 billion the amount it will spend to buy back its stock and pay out dividends.
 

Apple raised a coming stock dividend by 15 percent to $3.05 per common share. While Apple coffers bulged with $144.7 billion, the company said most of that money is offshore and it will be shrewder to borrow cash to implement the stock buy-back plan.

Apple shares jumped briefly on the news in after-hours trades but slid back down to $403.95, about two dollars below where it was at the close of the Nasdaq.

The move veers from the way late Apple co-founder Steve Jobs fiercely guarded cash reserves.
Apple shares jumped briefly on the news in after-hours trades but slid back down to $403.95, about two dollars less than at the close of the Nasdaq.

The California-based company posted a profit of $9.5 billion on revenue of $43.6 billion in the first three months of this year, compared to a profit of $11.6 billion on $39.2 billion in the same quarter in 2012.It said its gross margin, or the amount of money it makes in profit from its devices, shrank to 37.5 percent from 47.5 percent.

The number of iPhones sold in the quarter rose to 37.4 million from 35.1 million during the same quarter last year.The number of iPads sold surged to 19.5 million from 11.8 million a year earlier.
Meanwhile, sales of iPod MP3 players dropped by more than a million to 5.6 million and Macintosh computers sales slipped about two percent to just below four million, according to Oppenheimer.
The Apple board raised the overall stock repurchase target to $60 billion from $10 billion.
Apple chief executive Tim Cook said that the decline in Apple stock in recent quarters has been "very frustrating for all of us."

Shares in Apple are well below their 52-week peak above $700 in September as the tech giant faces tougher competition from South Korea's Samsung and others.

"For the size company it is, Apple is plugging along very nicely," said Forrester analyst Frank Gillett.
"The question we are asking ourselves is whether they can bust out a new category. My hunch is there are a bunch of new things brewing."

Revenue in Greater China was up 11 percent to $8.8 billion, with iPad sales more than doubling despite Apple reporting that growth had slowed there.China served as an example of an Apple strategy to win over smartphone buyers with affordable prices on iPhone and iPad models, letting margins shrink in order to build ranks of loyal customers.

"We do want to grow faster, but we don't look at it as the only measure of our health," Cook said.
The iTunes shop pulled in more than $4 billion in revenue in the first three months of the year, setting a new record, according to Oppenheimer.
( F24)

TWITTER LAUNCHES NEW MUSIC SHARING SERVICE



Twitter on Wednesday began to allow ads to be targeted at users based on the words written in 'tweets' and messages forwarded to followers at the popular social network.

Previously, contents of Twitter messages relied on algorithms that pool the interests of users to send them potentially relevant ads in the form of tweets "promoted" at the top of feeds.

Twitter produce manager Nipoon Malhotra said the new feature would allow "advertisers to reach users based on the keywords in their recent tweets and the tweets with which users recently engaged."
Malhotra gave the example of a concert venue being able to target local music lovers with tweets promoting upcoming shows by bands they have raved about in messages at Twitter.

"Users won't see any difference in their use of Twitter; we're not showing ads more frequently in timelines, and users can still dismiss promoted tweets they don't find relevant," Malhotra said in a blog post.

Twitter is expected to earn $582.8 million globally in ad revenue this year and nearly $1 billion next year, according to industry tracker Marketer.

Thursday, 11 April 2013

AFRICA'S SUCCESSFUL WOMEN

Women play a pivotal role in our society, hence it is important for us to celebrate their success always .Hence I have devoted myself to dig out and let you know of all those successful women in Africa that  maybe a lot of people are not mindful of.

 Here is my first finding Mrs Divine Ndhlukula:



Divine Ndhlukula, a Zimbabwean national, is the founder and Managing Director of SECURICO, one of Zimbabwe’s largest security companies. The Harare-based outfit is a market leader in the provision of bespoke guarding services and cutting-edge electronic security solutions.

Ndhlukula has done remarkably well. In less than 15 years of doing business, SECURICO has achieved a number of significant feats: The $13 million (revenues) company now has more than 3,400 employees – 900 of whom are women. The company was also the first security outfit in Zimbabwe to achieve an ISO (International Organization for Standardisation) certification. Last December the company was the winner of the prestigious Legatum Africa Awards for 
Entrepreneurship.

 Just keep checking this blog and I will post an interview of this amazing African Icon.


PLATINUM REWARDS OUTSTANDING BUSINESS STUDENTS

Asset management firm Platinum Investment Managers (Platinum) has awarded excelling students from six universities in the country who participated in its Platinum University Student Challenge.

In the competition — targeted at rewarding talent and brilliance among finance and business faculty students — scholars are invited through their universities to participate in research and essay writing.

The winners of this year’s edition are Prince Hwenjere of National University of Science and Technology followed by first runner up Chrispen Chinyau from Chinhoyi University of Technology and Thelma Chimbganda of Women’s University of Africa, who is the second runner-up.The prizes were $1 000, $750 and $250 respectively.The money is paid directly to the student’s tuition fees account at the university, in order to ease pressure on their education needs.

“The birth of this competition was driven by the fact that we cannot divorce the development of the financial sector from developing talent that will take-over from current industry leaders,” said Prosper Mapika, Platinum’s managing director.

He indicated that Platinum had plans to make the competition bigger and more useful to society.

Speaking at the unveiling of the awards, Securities Commission of Zimbabwe chairperson Willia Bonyongwe said, “Part of the mandate of the Securities Commission is investor education and in this we work very closely with schools, colleges and universities. Therefore, we are glad that Platinum is doing its bit through this competition at University level.”

She added: “The initiative encourages students to think broadly and engage in debate, and to proffer practical solutions to issues of national development.”

Platinum launched the competition in 2011, in realisation of the need to provide students from local universities with a platform to share their ideas on issues of national development.Participants are given research topics guided by economic issues affecting the country.The essays are put before judges for assessment and rating, on the basis of originality of ideas, modernity and practicality of solutions, and lack of plagiarism.In this year’s edition of the competition, students were asked to research on ways of harnessing capital inflows into mining as well as on strategies to support and sustain small-scale gold mining.

It is indeed quite  refreshing to see different corporates in Zimbabwe supporting students  in the Financial Sector. This way we are guaranteed to reach world class standards.

Monday, 8 April 2013

NUST STUDENTS TAKE NEW YORK!



NUST students Bekimpilo Ndlovu, Sanelisiwe Ntini and Francis Chiwunda  got the opportunity to ring the closing bell at the New York Stock Exchange.

The three, all from Bulawayo’s National University of Science and Technology (N.U.S.T), were part of 200 young people gathered up in New York and got to meet the who’s who of business in the world. Names like Alex Gorsky (CEO, Johnson & Johnson), Ashwini Gupta (Chief Risk Officer, American Express), George Whitesides (CEO, Virgin Galactic), Eric Schurenberg (Editor-in-Chief, Inc Magazine), Mike Perlis (CEO, Forbes) appeared on the mentor panels.

They got the opportunity to meet the founder and chairperson of Kairos Society, Ankur Jain who is considered to be one of the most connected young people in the world! They also met young and passionate student leaders from almost every part of the world as they were representing Nust , Zimbabwe and Africa at large. Talking to  Francis Chiwunda a final year Bcom finance student and Africa regional president for Kairos Society, this is what he had to say:
The passion I saw in the student leaders was so amazing and life redefining. I rubbed shoulders with young people who have dared to challenge the status quo and managed to build their ventures in the most difficult years of recession. These are young people who can schedule meetings with world leaders such as US president Barack Obama and World Bank leaders to discuss global challenges and be able to present a way forward. That was a take home for me!

One of the fascinating concepts of the summit was what we called the $1 Billion Dollar Challenge where I had the opportunity to engage with Harvard University students! Their ideas were almost out of this world! Think of a wrist watch with a mechanism that detects stress levels which can be synchronised by a mobile application to locate, rank and recommend the best doctor within the vicinity!, 
I came to realise that as an entrepreneur you don’t need to invent lightning or something magnificent. All you need is an idea and a great passion, no matter how crazy the next person may think it is. In actual fact, all entrepreneurial activities emanate from “crazy” ideas. Take for instance Aliko Dangote, Africa’s current richest man who has made his wealth from commodities as basic as sugar, cement and flour! It’s not  quantum physics! 
  
Headquarters of Kairos Society Africa are at NUST and there is room for excitable students to join. The application process is opening this April. African students are invited to apply - including those studying abroad. To qualify as a Kairos Society Fellow, one needs to be an entrepreneur and a leader solving a global challenge through innovation. Fellowship is by invitation'.

Quite an interesting thing to look at for all entrepreneurs, I urge to try if you one.


                                        






Thursday, 4 April 2013

1000 LOOSE PROPERTY TO CHIYANGWA




The stands are located in one of Harare new suburbs — Stoneridge.
Pinnacle, which is owned by businessman Phillip Chiyangwa, yesterday published a list of clients whose stands had been repossessed.
“These listed stands are now available for purchase . . . ,” said Pinnacle in a statement.
Contacted for comment Pinnacle property holdings chief executive officer Edmund Chiyangwa said the defaulting period ranged from six months to over four years.
“We issue statements every month, warning letters are issued after three months of default and periodically thereafter,” said Chiyangwa.
Asked if the clients would be rewarded their funds, Chiyangwa said: “We have various schemes running on that particular project. Each scheme has its own provisions in the agreement of sale. Some provide for refunds, others do not. So it really depends on which scheme the defaulter is on.”
Pinnacle Property Holdings is a diversified property holding and development company with interests in various projects.
Chiyangwa said the company had been at the forefront providing affordable housing solutions to the masses of Zimbabwe.
“We have various flexible schemes running that have made the home owning dream of many come true. We have, however, suffered development setbacks as a result of numerous defaulters who have not been servicing their dues,” he said.
“The schemes we have offer purchasers with easy payment terms that range from as little as $50 per month. Purchasers are issued with immediate access to their stands upon signing agreements of sale.
“Some, however, have stopped paying for their stands and left us with no choice, but to terminate the agreements.”
The Pinnacle Property Holdings group develops and manages a broad range of real estate initiatives that include residential, industrial, commercial properties, conventional hotels, boutique hotels and lodges.

Sunday, 31 March 2013

BUSINESS FUN FACTS

* In 1987, American airlines decided to omit one olive from each salad course in the 1st class, as a result they made savings of $40 000
* Bank of America started operations as Bank of Italy.
* If the entire population of the world is taken as 100 then half of the total wealth would be held by 6 people.
* More than 90% of cab drivers in New York are immigrants from other countries.
* The Mall, the biggest departmental store in Washington D.C is 14 times bigger than the Vatican City.
* A tupperware party starts somewhere in the world every 23seconds.
* Kids in North America spend an average of about half a billion dollar annually on chewing gum.
* David Mc Connell named his company Avon after the birthplace of William Shakespeare , Stratford on Avon.
* Nauru a small island on the Western Pacific , has fossilized bird droppings as one of its chief exports.
* The soft drink industry spends more than $100 million a year in stopping thefts involving their vending machines.
 * * * kkkkk awesome stuff ...

Monday, 25 March 2013

INSIDER ON THE RICHEST MAN IN AFRICA.


Alingo Dangote(b on April 10,1957), is the Nigerian  founder and president of Dangote Group.He is known to be one the richest man in Africa. He ranked first in Nigeria in the Forbes 2008 list of the richest people in the world with a fortune estimated at 3.3 billion dollars.
 
In 2011
With an estimated current net worth of around US$ 13.8 billion, he was ranked by Forbes as the richest Nigerian citizen. He is also simultaneously the richest person of African descent in the world, surpassing Mohammed Al Amoudi ($12.3 billion) and Oprah Winfrey ($2.7 billion.)The Dangote consortium spans across many sectors of the Nigerian economy.The Dangote Group provides , cements ,sugar, salt, flour , rice, spaghettis, textile etc,,,,,,,,,at competitive prices.

As a nonpartisan and detribalized businessperson, he is generous to different political parties, religious groups and cultural institutions. Apart from providing employment to elite graduates from different ethnic backgrounds, he minimizes the level of crime by engaging youths who are school leavers in the area of transportation, packaging, security amongst others.

It may not be a wild assumption to say that every Nigerian has heard of his name because of the impact of his business. His products are in most homes across the country. Those who may not use his products would have passed some of his trailers by the way. He is into export, import, manufacturing, real estate and philanthropy. All these are rolled together into what is known as the Dangote Group.

Beginning
Born in Kano, his grand father, the late Alhaji Sanusi Dantata provided him with a small capital to start his own business, as was the practice then. He thus started business in Kano in 1977 trading in commodities and building materials. Alhaji Aliko Dangote moved to Lagos in June 1977 and continued trading in cement and commodities. Encouraged by tremendous success and increase in business activities, he incorporated two companies in 1981. These and others that followed now make up the conglomerate known as Dangote Group.

Tuesday, 19 March 2013

HOW TO MAKE YOUR BUSINESS PLAN STAND OUT

One of the first steps to business planning is determining your target market and why they would want to buy from you.For example, is the market you serve the best one for your product or service? Are the benefits of dealing with your business clear and are they aligned with customer needs? If you're unsure about the answers to any of these questions, take a step back and revisit the foundation of your business plan.The following tips can help you clarify what your business has to offer, identify the right target market for it and build a niche(position/slot) for yourself.

Be Clear About What You Have to Offer

Ask yourself: Beyond basic products or services, what are you really selling? Consider this example: Your town probably has several restaurants all selling one fundamental product—food. But each is targeted at a different need or clientele.One might be a drive-thru fast food restaurant, perhaps another sells pizza in a rustic Italian kitchen, and maybe there’s a fine dining seafood restaurant that specializes in wood-grilled fare. All these restaurants sell meals, but they sell them to targeted clientele looking for the unique qualities each has to offer. What they are really selling is a combination of product, value, ambiance and brand experience.
When starting a business, be sure to understand what makes your business unique. What needs does your product or service fulfill? What benefits and differentiators will help your business stand out from the crowd?

Don’t Become a Jack of All Trades-Learn to Strategise

It’s important to clearly define what you’re selling. You do not want to become a jack-of-all trades and master of none because this can have a negative impact on business growth. As a smaller business, it's often a better strategy to divide your products or services into manageable market niches. Small operations can then offer specialized goods and services that are attractive to a specific group of prospective buyers.

Identify Your Niche

Creating a niche for your business is essential to success. Often, business owners can identify a niche based on their own market knowledge, but it can also be helpful to conduct a market survey with potential customers to uncover untapped needs. During your research process, identify the following: 
  • Which areas your competitors are already well-established
  • Which areas are being ignored by your competitors
  • Potential opportunities for your business

DRAFTING A BUSINESS PLAN

A business plan is an essential roadmap for business success. This living document generally projects 3-5 years ahead and outlines the route a company intends to take to grow revenues.If you are just starting a business, you won't have as much information as an established company. Instead, focus on your experience and background as well as the decisions that led you to start this particular enterprise.Demonstrate that you have done thorough market analysis. Include information about a need or gap in your target market, and how your particular solutions can fill it. Convince the reader that you can succeed in your target market, then address your future plans.Things to include in the whole write up are :

  • Executive Summary
  • Company Description
  • Market Analysis
  • Organization and Management
  • Service or Product Line
  • Marketing and Sales
  • Funding requests
  • Financial Projections
These form a full package to successfully plot your business plan as they also help you look at the long run and endurance of your business.

Saturday, 16 March 2013

Hmm, so you have been telling yourself every single year, ' I have to and I will start that business' , declarations every 31st of December going 1st of January that ' this is my year, my business dream has got to start!' . GOOD MOVE , of course it is great to speak things into life but guess what, it will be all talk and no action if you don't start moving. The longer you prolong the longer it will take for you to hit that mark, so why not start now , & yes I mean now , site see , segment your market , budget & do all those things business people do. CLUELESS?? , don't worry the business insider is right here to take you step by step. Starting now, so you better draft your business plan...
Welcome to the business insider with m your girl Dee...