Entrepreneurs from around KZN recently attended the second Entrepreneurs Workshop that was held at Hirsch’s Training Centre in Umhlanga recently. The event was attended by new businesses owners and veteran entrepreneurs looking for advice and ideas on how to get their businesses to thrive in a tough economy. The subject under discussion at the March Workshop centred on finance and money mastery.
Margaret Hirsch, award winning business woman and Chief Operations Executive of the Hirsch Group started off the event with sound advice on investment. “Once wealth had been created, knowing how to invest wisely is key to the future success of a business. Strategic investments in property, for example, could see a business thriving in an unstable economy.” She said.
The talks are anchored by ActionCOACH’S Business Coach Marlene Powell who has, over the last twelve years, helped many local businesses to get to the next level. Marlene said that it businesses should aim to grow their business to the extent that one day, they would be saleable. “Aim for maximum utilization, and once you have made your money, manage it. Distribute it effectively. Get a wealth advisor to see if you’re going on an upward or downward slope. A good rule of thumb is to put a third of your annual profit into an investment, a third back into the business and keep a third for yourself.” Marlene advised.
Top KZN Business Woman and the owner of PRO Appointments, PRO Talent and the Robin Hood Foundation, Cindy Norcott gave advise on the importance of being determined, disciplined and focused, learn the importance of developing affirmations and to have more so that you are able to give more.
Finally Margie Whitten from IDU Budgeting, Forecasting and Reporting Solutions said that it was important, in any business, to be passionate about budgeting and implementing financial programmes. “Base your budget on your business plan and monitor and control your budget every week. It’s extremely important to know where you’re going on the financial front.” She said.
The concept to the Entrepreneurs Workshops came about after the judges for the Margaret Hirsch Woman In Business Achievers competition, Jenny Syren (the National Trainer for the Hirsch Group) and Glenda Thompson (Hirsch’s PR consultant) found that some of the contestants that they interviewed were in need of advice on various angles in their businesses to get them to the next level. “We discussed our idea with Margaret and she agreed that we run free monthly workshops for fledgling entrepreneurs and people who have been in business for a while but were just not cracking it.” Commented Glenda Thompson. “The idea was to bring in various experts in their field, and we were delighted with the response, both from candidates and from successful business owners in the KZN business community.”
The next Workshop will centre on Sales and will be held on Friday, April 5,- starting at 11.30 and ending at 3.00 p.m. and will be held at the Hirsch Training Centre at Hirsch’s Umhlanga. Contact [email protected]