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Showing posts with the label business mentoring

What entrepreneurs wish they'd known when they were starting out

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Gugu Mjadu 2016 Entrepreneur of the Year® winners discuss advice they would share with their younger selves Entrepreneurs in the small and medium enterprise (SME) sector have long regarded business mentorship as one of the fundamental factors required for developing this space in the South African economy. This need has also been a key highlight in a number of well recognized industry surveys and research – appealing for both the private and public sector to take action and provide more support for budding young entrepreneurs. This is according to Gugu Mjadu, spokesperson for the 2017 Entrepreneur of the Year® competition , sponsored by Sanlam and BUSINESS/PARTNERS , who points to the recently released results of the first quarter 2017 Business Partners Limited SME Index, which reported an 82% level of importance placed on business mentorship in the development of a business. This is the highest level ever recorded since the survey’s inception in 2012. Mjadu says that in the absen...

Entrepreneurs should not underestimate the value of great advice

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Zizipho Nyanga Access to advice and mentorship from experienced people is key to helping small, medium and micro enterprises (SMMEs) build successful and sustainable businesses. A lack of contact with established entrepreneurs is a major threat to the success and growth of new entrepreneurs, particularly youth and women entrepreneurs. The 2016/2017 Global Entrepreneurship Monitor recommends building support structures that enable entrepreneurs to access advice and mentorship. Creating opportunities for SMMEs to connect with great advice is the focus of Old Mutual as sponsor of the Cape Media SMME Opportunity Roadshow . According to Zizipho Nyanga, CEO of the Old Mutual Masisizane Fund , providing SMMEs with access to sound advice is as important as providing access to funding, and greater attention needs to be given to this aspect of SMME development. “Many small businesses fail to cross initial hurdles because they operate in isolation. Access to sound advice can help entrepr...

Good business mentors worth their weight in gold

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In today’s challenging economic environment, mentors play a key role in growing businesses, supporting entrepreneurs and enabling SMEs to survive and flourish in tough trading conditions. This is according to Christo Botes, executive director of Business Partners Limited (BUSINESS/PARTNERS), who says that he has witnessed businesses on the verge of bankruptcy recover, and be propelled to new levels of success as a result of some guidance from a mentor. Botes says although there are various types of advisors available, such as advisors, coaches and consultants, business owners should opt for a mentorship approach when seeking advice and guidance. He explains that the difference between a business mentor and the many other types of business advisers is subtle, as a mentor can play any number of roles. “A mentor is able to play the role of a strategic adviser, technical expert or business consultant, and sometimes all of them at once. However the key characteristics of a mentor has to...