BUSINESS FOCUS WHY SMEs HAVE THE POTENTIAL TO TRANSFORM THE ECONOMY
CONVERSATION WITH
ERICK SITHOLE
TRAVEL & TOURISM LET’S TALK LEGAL
WORKPLACE 101
NSIKAYEZWE
REAL ESTATE
IMPACTS OF THE REPO RATE CUTS ON THE PRIVATE PROPERTY MARKET
PUBLISHING CREDITS CHIEF EDITOR Benito Mamaile editor@businessxposure.co.za EXPERT CONTRIBUTORS Frans Nel Dr. Travis Bradberry Morgen Moyo Madelain Roscher Amina Williams Jacques Loots Thabiso Gama Elena Agaragimova South African Banking Risk Information Centre PICTURES Intellectual Media Cover Interview Pictures Credit: Erick Sithole Entrepreneur of the month Pictures Credit: Netshcoe Solutions DESIGNERS Intellectual Media and Communications LEGAL Loots Attorneys Gama Attorneys
ERICK SITHOLE CEO, Nsikayezwe Management Consultants
ACCOUNTS Istora Rapule accounts@businessxposure.co.za
PAGE 06 - 11
HIGHLIGHTS
DISTRIBUTION Intellectual Media and Communications (Pty) Ltd PUBLISHED BY Intellectual Media and Communications (Pty) Ltd 81 Cassandra Avenue Bedworth Park 1939 Office Hotline
: +27 (0)11 083 8777 : +27 (0)81 322 5747
ADVERTISING ENQUIRIES Office : +27 (0)11 083 8777 Email : editor@businessxposure.co.za
IN THE KNOW
ARTICLES
Disclaimer:
NBX ENTREPRENEUR OF THE MONTH
National Business Xposure and Intellectual Media and Communications considers its sources reliable and verifies as much data as possible. National Business Xposure (EAN 0 606110 895835). However, inaccuracies can occur, consequently readers using this information do so at their own risks. National Business Xposure does not accept responsibility for omissions or errors. the points of view expressed in articles by attributing writers and/or in advertisements included in this magazine do not necessarily represent those of the publisher. Any resemblance to real persons, living or dead is purely coincidental. Whilst every effort is made to ensure the accuracy of the information contained within this magazine, no legal responsibility will be accepted by the publishers for loss arising from use of this information published. All rights reserved. No part of this publication may be reproduced or stored in a retrievable system in any form or by any means without the prior written consent of the publisher.
BENITO MAMAILE CEO & Business Development, Intellectual Media and Communications Platform Architect & Chief Editor, National Business Xposure South Africa
JACQUES LOOTS Admitted Attorney & CEO Loots Attorneys South Africa
DR. TRAVIS BRADBERRY Coauthor of Emotional Intelligence President at TalentSmart United States of America
MORGEN MOYO Founder My Success Hub South Africa
ELENA AGARAMIGOVA CEO & Talent Development Agar Consultancy United Arab Emirates, Dubai
MADELAIN ROSCHER MD, Multi Award Winning PR Specialist at PR Worx South Africa
AMINA WILLIAMS Founder & CEO Willamina Media South Africa
JIMMY MSIBI CEO, SHERQ Specialist Masweja SHERQ Management South Africa
THABISO GAMA Admitted Attorney & CEO Gama Attorneys South Africa
CHIEF EDITOR’S LETTER
FACING UP TO FAILURE DURING COVID-19 “It's not enough to just do your best. You must continue to improve your best.” ― Kenneth Wayne Wood
04
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
COVER FEATURE
Erick Sithole
06
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
COVER INTERVIEW
“I have seen small becoming GREAT, Small beginnings, despise them not”
Erick Sithole
B •
• • • •
07
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
COVER INTERVIEW
Erick Sithole Q
Q
Q
Q Q JOIN THE CONERSATION ON
08
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
COVER INTERVIEW
Q
Q
Q
Q
Q
Q
Q
Q
Q
09
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
COVER INTERVIEW
Q
Q
Q
Q
Q
Q Q Q Q The African proverbs says: if the rhythm of the drumbeats changes the dance steps must adapt. The world is now digital and those who won’t adapt will surely suffer the consequences of not embracing change brought by technology.
10
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
COVER INTERVIEW
Q
Q
I always say, when you continuously tolerate the exclusion of the majority of South Africans from participating in the economy, you are not different from the oppressor.
Q
Q
Q
Q Q
11
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
I NSPIRING WOMEN ON SUCCESS & CHALLENGES! A recently released Female Entrepreneurship Index by Global Entrepreneurship Monitor which looked at how 77 countries across the world are fostering women entrepreneurship, found that South Africa is ahead of other African countries when is came to giving support to women in business - countries were evaluated according to entrepreneurial environment, the ecosystem, and aspirations. Although more women are taking the leap into going into business, there are still challenges. Here are their thoughts on what it takes to make it, overcoming challenges and building the world's next generation of women business leaders. By Refilwe Kgosiemang, SME South Africa
Phuti Mahanyele Former Chief Executive Officer of the Shanduka Group, one of South Africa’s largest investment holding companies. "When going into business – you should view yourself as a business person – people treat you the way you treat yourself. If you come in feeling at a disadvantage – you are already at a disadvantage.“ Source: Forbes Africa
Uche Pedro Founder an managing director of BellaNaija, an online media company that develops and delivers online content aimed at Nigerian and Pan-African audiences.
INTRODUCE YOUR BUSINESS PROFESSIONALLY Let us help you design the business profile for your company – 7 to 10 Pages
Only R1 000,00 (VAT Incl.)
"If you stand for nothing, you’ll fall for everything .... What I write is instinctively positive ... It irritates me that people criticize but don’t do anything" Source: Lioness of Africa
Bethlehem Tilahun Alemu Founder and managing director of soleRebels, the world's fastest-growing African footwear brand.
"soleRebels is living proof that creating innovative world class products and trading them with the world is the best road to greater shared prosperity for developing nations like ours!" Source: soleRebels website
Melinda Gates Co-founder of the Bill & Melinda Gates Foundation "If you are successful, it is because somewhere, sometime, someone gave you a life or an idea that started you in the right direction. Remember also that you are indebted to life until you help some less fortunate person, just as you were helped" Source: The Legacy Project
13
MAGAZINE.BUSINESSXPOSURE.CO.ZA
+27 11 083 8777 +27 81 322 5747 hello@intellectualmedia.co.za
NBX DIGIMAG | ISSUE NO. 29
GUEST BLOG
PERMISSION TO INTERRUPT Frans Nel Marketing Consultant, Brand Builder, Entrepreneur, Writer, Storyteller & Teacher Frans Nel
Interrupting a person when they are busy talking, is rude. The person talking feels like what they are saying is less important than what you have to say. It disregards the other person. No one likes to be interrupted. But, for decades, we have allowed brands to interrupt us without giving it too much thought. We are interrupted while we are watching TV, while we are listening to the radio, and those billboards are screaming for our attention while we are driving, and what about those telesales calls at all hours? Marketers have had to innovate to find new ways of capturing the consumers attention, as the clutter increases. We have gone from being exposed to around 500 advertisements a day in the 70s, to between 5000 and 10000 brand messages a day in 2017!
AND, IT’S GETTING NOISIER. People are spending more time away from home, and away from their TV. Marketers have responded by bringing the TV to the people. At the checkout point in the supermarket, at shopping malls, the movies, at garage forecourts and to a larger extent, your computer and mobile device. According to Joshua Saxon of IE School of Human Sciences & Technology (Why Your Customers’ Attention is the Scarcest Resource in 2017), people switch from one screen to another up to 21 times an hour.
15
MAGAZINE.BUSINESSXPOSURE.CO.ZA
The internet has changed how we behave as consumers. We have gone from reading books, to skimming a few websites on the internet. If we don’t find what we are looking for within a few seconds, we move on to the next site. According to a recent study done by Microsoft, the average person’s attention span is now eight seconds.
ATTENTION IS NOW THE MARKETERS MOST VALUABLE ASSET. In 1999, 20 years ago, Seth Godin published the book Permission Marketing. He presented the argument that people’s attention is the most valuable asset to marketers. Seth's definition of Permission Marketing requires that the message be: Anticipated – people look forward to hearing from you Personal – the messages are directly related to the individual Relevant – the marketing is about something that interests the person As a marketer, and a human being, we have to understand that people’s attention is precious. And their attention is to be treated with respect. But, permission only happens when trust has been established. Brands held the power in the past, today, consumers have the power to control what they see, and what they ‘tune-out.’ For marketers the challenge is to figure out how to cut through the clutter. And doing so in a manner that doesn't upset the very person you are trying to attract. It is not advertising that consumers are ‘tuning-out’ from, it’s bad advertising. Content that is honest, helpful, entertaining and engaging, will always ring true with a prospect. But, when someone is expecting to hear from you and the message is personal and relevant, trust grows. Receiving permission to interrupt someone is a privilege, don’t waste it by being less than human. NBX DIGIMAG | ISSUE NO. 29
ENTREPRENEUR OF THE MONTH
Mary Netshikulwe
16
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
ENTREPRENEUR OF THE MONTH
The distance between your dreams and success is ACTION
MARY NETSHIKULWE
JOIN THE CONERSATION ON
17
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
PROVIDING AFFORDABLE PAYROLL &
BOOKKEEPING SERVICES OUR SERVICE CERTIFIED PAYROLL ADMINISTRATOR BY
▪ ▪ ▪ ▪
ABOUT US NETSHCOE SOLUTIONS is passionate about helping small and medium size businesses grow and prosper. We act as YOUR business partner rather than a service provider, because we take time to UNDERSTAND your business so that we can offer you a tailor-made solution unique to your business needs.
071 897 6776
▪ ▪ ▪ ▪
▪ ▪ ▪ ▪
WWW.NETSHCOESOLUTIONS.CO.ZA The Main Change Building, Maboneng JHB
GET INSPIRED ON THE GO
AVALAIBLE ON
LET’S TALK LEGAL
• • •
Thabiso Gama Corporate & Commercial Attorney and Director Gama Attorneys Inc. Gama Attorneys Inc.
Gama Attorneys Inc.
•
• •
20
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
OUR SERVICES Corporate and Commercial Banking and Finance
Competition Law Financial Services Labour / Employment Law Family Law Litigation
“ The power of the lawyer is in the uncertainty of the law. �
- Jeremy Bentham
Clients associated with Gama Attorneys Inc. operate seamlessly across all of these jurisdictions, in order to provide the best legal advice under competitive terms with original values
Emergency Hotline: 0800 029 999 www.sacoronavirus.co.za
REAL ESTATE
IMPACTS OF THE REPO RATE CUTS ON THE PRIVATE PROPERTY MARKET Contributed by
Correspondent
23
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
REAL ESTATE
24
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
BUSINESS FOCUS
WHY SMEs HAVE THE POTENTIAL TO TRANSFORM THE ECONOMY In South Africa, it is estimated that SMEs make up 90% of formal businesses, provide employment to about 60% of the labour force and contribute roughly 34% of GDP. SMEs are inherently more adventurous than big business. They have the single largest potential to move people out of the poverty trap of structural unemployment. They are great sources of innovation. They open new markets. They are imbued with the energy of an entrepreneur. I am privileged to mentor some of these entrepreneurs. They bring truly fresh ideas and learn quickly how to shift those ideas into concrete and deliverable plans.
They seek first a market - big business is key in providing that. They seek advice - mentorship programmes which all experienced business people can join, are critical, and rewarding for both parties. They seek cash, which larger businesses and projects like the CEO Initiative, can provide if the plans are good enough. But mostly they seek the freedom to get on and build their businesses. THIS IS WHERE GOVERNMENT IS KEY. SME’s are subject to the same labour legislation as large corporates. (No small business hires new staff unless absolutely necessary given the toughness of these laws.) They are subject to the same minimum wages requirements as big business and the same exorbitant charges from inefficient state-owned enterprises. They are subject to largely the same tax environment, the same licensing requirements, and a host of other restrictions and hoops that Big Business, with their pools of resources, can handle more easily. 27
MAGAZINE.BUSINESSXPOSURE.CO.ZA
They too have to operate in an environment where state capture and corruption from the top of government cause ever slower economic growth and make each business and hiring decision that much more risky.
With the South African economy in its current state of stagnation, the challenges are growing. This climate has forced thousands of businesses around the country to pull back on capital expenditure and on job creation. For small businesses the impact is more pronounced. We have a Ministry for Small Business Development which has done precious little to ease any of these restrictive measures. Even in the Special Economic Zones, most of these barriers still apply - and they were conceived to make business easier. SOURCE: FIN24 https://www.fin24.com Content: Simon Susman, The Chairperson of Woolworths Holdings Limited.
NBX DIGIMAG | ISSUE NO. 29
OUR SERVICES KITCHEN We create stunning kitchens which turn any house into a home BED ROOM We make custom bedroom pieces to suite any budget and style LIVING ROOM The sleek stylish look of Modern Living Room furniture DINING ROOM Contemporary modern furniture looks best when your home is well-kept and minimalist OFFICE We make sleek and modern office furniture
LET US MAKE IT YOUR WAY
MIND MAPPING
1. EMPOWERMENT Leaders closer to their work can make quicker and more informed decisions based on data, research, best practices and proximity to the customer. 2. ENGAGEMENT Join your teams in the trances to not only stay grounded in the realities of the business, but also to inspire them to unleash their passions and talents around a shared vision. 3. INFLUENCE Being able to influence others without having direct authority is extremely important. Positive influence sparks motivation and engagement. 4. INNOVATION Leaders at all levels must incubate incentivize creativity and innovation by supporting experimentation and learning including the permission to fail. 5. COMMUNICATIONS Strong communication fosters alignment on activities, resources, and priorities. It also promotes the sharing of results, insights and best practices across the organization. 6. PROBLEM SOLVING Problem-solving should be a continuous activity. Constantly challenge the status quo. Don't approach problems linearly, but rather more expansively to realize a greater impact. 7. TRANSPARENCY Transparency builds strong relationships, creates authenticity, engenders trust, and drives higher levels of performance.
8. ADAPTABILITY An adaptable leader must deal with unpredictable and changing situations with dexterity and confidence using strong interpersonal and across-cultural skills. 9. EMPATHY Exuding empathy paired with active listening and humility will boost staff performance and morale. 10. CONTINUOUS LEARNING Leaders must continuously acquire new knowledge, seek out best practices, sharpen skills and gain fresh perspectives. 29
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
CORPORATE COMMUNICATIONS
10 SIGNS YOUR WORKPLACE CULTURE IS TOXIC ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Whenever a boss acts like a dictator – shutting down, embarrassing, or firing anyone who dares to challenge the status quo – you’ve got a toxic workplace problem. And that’s not just because of the boss’ bad behavior, but because that behavior creates an environment in which everyone is scared, intimidated and often willing to throw their colleagues under the bus, just to stay on the good side of the such bosses. A toxic company culture will erode an organization by paralyzing its workforce, diminishing its productivity and stifling creativity and innovation. Now more than ever business leaders need to be addressing issues of workplace toxicity.
It makes the difference in retaining good staff and also whether your company fails or succeeds. Employees aren’t afraid to jump ship when faced with a toxic workplace - and it's usually your high performers who will go first.
Company core values do not serve as the basis for how the organization functions. Employee suggestions are discarded. People are afraid to give honest feedback. Micromanaging - Little to no autonomy is given to employees in performing their jobs. Blaming and punishment from management is the norm. Excessive absenteeism, illness and high employee turn over. Overworking is a badge of honor and is expected. Little or strained interaction between employees and management. Gossiping and/or social cliques. Favoritism and office politics. Aggressive or bullying behavior.
WHAT’S THE CURE FOR A TOXIC WORK CULTURE? While toxic work cultures are the end result of many factors, it’s generally a combination of poor leadership and individuals who perpetuate the culture. It starts with those at the top. Leaders must show - Respect, Integrity, Authenticity, Appreciation, Empathy and Trust. Toxicity in the workplace is costly. Unhappy or disengaged employees cost companies billions of dollars each year in lost revenues, settlements and other damages. Once you identify the major problems by gathering information. Develop a plan and follow through. It may mean training, moving or simply getting rid of bad bosses who are the root cause of toxicity in the work place. Show employees you care and are committed to improving their workplace environment. Your employees can be your greatest asset but it all depends on how you treat them. Sadly, if you do not cure the cancer in the root of the tree, not only with the branches and leaves die; but so will the tree. CHECK OUT MY LATEST BESTSELLING BOOK.
The biggest concern for any organization should be when their most passionate people become quiet.
Leading the Workforce of the Future: Inspiring a Mindset of Passion, Innovation and Growth Leading the Workforce of the Future provides concrete advice and best practices on how to engage and retain top talent. It addresses several areas to focus on to future proof yourself and your business. The future is no longer some faroff destination; it is already here. Don’t be caught off guard! TO YOUR CONTINUED SUCCESS!
31
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
PROFILE MY BUSINESS
For Entrepreneurs by Entrepreneurs
▪
▪
32
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
TRAVEL & TOURISM What we’ve managed to do is try communicating with airlines of different countries and aim to get an understanding of what their travelling requirements will be in the future and take it from there’’ Chris says. It is without a doubt that our travelling experiences will never be the same. One has to wonder what implementations will be put in place in different parts of the world.
CAN YOU IMAGINE WHAT TRAVELLIING POST COVID-19 COULD LOOK LIKE? Amina Williams Publicist, Digital Strategist & Social Media Manager Willamina Media aminawilliamspr
aminawilliamspr
It is increasingly apparent that there will be no easy return to business as usual after restrictions have been lifted in South Africa and the rest of the world. For most of us, travelling is an opportunity to see the world and learn about new cultures. It’s also a way to expand our perspective and realise that there’s more than one way to live life and get in touch with ourselves through self-introspection.
Will we be required to exercise social distancing at airports and be assisted by robots to eliminate human interaction? Or perhaps face recognition technology to board planes and seating arrangements within arms-length among passengers? Who knows, I’m just thinking out loud here… my guess is as good as yours! Personally speaking, twenty twenty (also known as ‘’20Plenty’’ or ‘’2020 Vision’’) for an enormous amount of enthusiasts including myself who had hopes and dreams of conquering the year but instead made travel plans to the living room and frequent trips to the fridge.
My very elaborate plan of events saw me destined for a year of exploration and a chance to join the #ICatchFlightsNotFeelings movement which I presume the universe had clearly shoved down its priority list as I still sit here, in front of my laptop on my third cup of coffee of the day. Without making it sound too doom and gloom, some experts like Sam Chui predict cheaper airfares, discount tickets and/or travelling with health certificates.
However for some, it’s a career which was once on the rise and expected to increase across all travel and tourism jobs. As a result of the global outbreak of COVID-19, travelling and hospitality paint a pretty frail picture for the future at the moment. How could these two realities be so different yet so crucial for people on both sides of the coin?
In a recent social media live interview with American-based travel entrepreneur Chris Daniels who shared his latest experiences and some challenges he faces towards the next phase of the travel and hospitality industry: ‘’My area of study is in International Relations so in order to teach that you need to understand people from other countries and that’s what I’ve [been fortunate enough to do] but as it stands, everything is up in the air which makes it very difficult to plan trips to South Africa or anywhere else in the world right now. 33
MAGAZINE.BUSINESSXPOSURE.CO.ZA
Whatever the future holds for the travel industry and my long last soul-searching adventures, one thing has been clear – we crave what we can’t have when it’s taken from us more than we do when we have it. If this period has managed to teach me anything in life, it’s that we should be intentional and take ownership of what we want from it. ‘’We have one life. Just one, why aren’t we running like we are on fire towards our wildest dreams?’’ - Deep Trivedi NBX DIGIMAG | ISSUE NO. 29
For Entrepreneurs by Entrepreneurs
MEMBER BENEFITS
▪ ▪ ▪ ▪ ▪ LEARN MORE: WWW.SIMODISA.ORG
36
MAGAZINE.BUSINESSXPOSURE.CO.ZA
NBX DIGIMAG | ISSUE NO. 29
FREE DOWNLOAD on
PLATFORM FEATURES •
GET YOUR BUSINESS LISTED NATIONALLY
•
FIND OTHER TOP RATED SERVICES PROVIDERS
•
LIST AND FIND JOBS
•
LIST YOUR PROPERTY
•
LIST EVENTS, UPLOAD GALLERIES & AUDIO PODCASTS
•
SOCIAL MEDIA INTEGRATION
•
WRITE & RECEIVE REVIEWS
•
PLATFORM AVAILABLE IN OVER 100 LANGUAGES
•
SECURE ONLINE PAYMENT GATEWAY
ONLY T & C’s apply
OUR PLATFORM BRING SUCCESS TO YOUR GREAT BUSINESS www.businessxposure.co.za 016 985 4095 | 081 322 5747