RESILIENCE READS

BOOKS FOR BOUNCING BACK

// By Karl Gostner

Surviving times of acute hardship requires a careful balance of engaging with the reality of the moment while still keeping our eyes fixed on the horizon. It is this combination that allows us to be fully present and grounded in our experience without becoming overburdened and stagnant. With cognisance of our current reality and hope for a better tomorrow, we can take intentional action to create the future we envision for ourselves, our planet, and all those beings with whom we share it. But this is no easy task.

In times such as these, as we attempt to conquer tomorrow while surviving today, it is vital that we look to sources of inspiration and wisdom. This collection of nonfiction draws together the best of human knowledge, experience and guidance to provide not only a roadmap to brighter days, but also invaluable comfort and encouragement as we make our way through the darkness.

Dark Nights of the Soul: A Guide to Finding Your Way Through Life’s

Ordeals by Thomas Moore, PhD

In this powerful work of nonfiction, American psychotherapist, theologian and spiritual writer Thomas Moore draws on contemporary and ancient wisdom to offer guidance for navigating and finding renewal in our darkest moments. The ‘dark night of the soul’ refers to a period of great pain, sadness, and – inevitably – transformation. In the introduction, Moore writes: “The dark night saves you from being stuck in your small life. It makes you a hero. It grows you into your fate and into being a responsive member of your community. In your mother’s womb you were becoming a person. In your womb-like dark night you are becoming a soul.” Moore does not look upon the dark night as the enemy; rather, he sees an opportunity to reflect, reshape and grow. If you are looking to discover the positive potential of our current hardship, Moore may just have the answers you are seeking.

Apollo’s Arrow: The Profound and Enduring Impact of Coronavirus on the Way We Live

by Nicholas A. Christakis

Nicholas Christakis – trusted physician, sociologist and head of the Human Nature Lab at Yale University – strikes a sound balance between philosophy and science in Apollo’s Arrow as he unpacks the long-term impact of the COVID-19 pandemic on human society. Although focused on the US context, this expert analysis sheds ample light on the global experience of the health crisis. With comprehensive examinations of and reflections on past pandemics, scientific research and sociological theory, this work offers a grounded and wellsubstantiated exploration of how the coronavirus has shaped our world, and where we may be headed next.

Resilience: Powerful Practices for Bouncing Back from Disappointment, Difficulty, and Even Disaster

by Linda Graham

Seasoned psychologist, counsellor and coach Linda Graham is wellversed in the art of building resilience for endurance through life’s toughest challenges. Through a measured combination of neuroscience and holistic approaches to wellbeing, Graham has created an encyclopedia of over 130 evidence-based, experiential exercises that you can perform daily to strengthen the foundations of your resilience. With regular practice and active self-care, you can use Graham’s techniques to ‘rewire’ your brain’s habitual coping mechanisms and transform challenges into opportunities for posttraumatic growth.

Unf*ck Yourself, Unf*ck the World: Revelations to Save Your Life

by Kagiso Msimango

Kagiso Msimango’s Unf*ck Yourself, Unf*ck the World is a rollicking read that takes us on a whirlwind tour through everything from planetary grids and family constellations to plant medicine, behavioural kinesiology, mindful breathing and more. Msimango’s humorous,

occasionally self-deprecating, style evokes a curiosity for the areas of our lives and wellbeing that we may ordinarily dismiss. When Msimango was herself trying to recover from adrenal fatigue, she developed an arsenal of interventional practices that allowed her to overcome her challenges and reach a place of holistic wellbeing. Her physicians were sceptical of her proposed treatment strategies, arguing that there was little to no evidence that anything she was doing would be effective. She responded, “If it works, then who cares?” This eclectic, experimental approach to her recovery provides the foundations for Unf*ck Yourself, Unf*ck the World, and offers inspiration for those seeking alternative ways to tackle the unprecedented economic, social and emotional challenges that we are currently facing.

The Making of a Manager: What to Do When Everyone Looks to You

by Julie Zhuo

Occupying a leadership position during times of disruption brings a wide range of challenges. Zhuo’s The Making of a Manager is an easy, enjoyable read that will equip you with the essential skills necessary to inspire and motivate your team for success. Zhou’s personal leadership journey – in which she joined the Facebook team as an intern when the company had under 50 employees, only to be promoted to her first management position at the age of 25 and later go on to head up the product design department – provides her with ample first-hand experience and sage wisdom. With her pragmatic advice and numerous real-life examples to answer your burning questions, this is the read you need to lead.

“We read to know we’re not alone.”

WILLIAM NICHOLSON

Ottolenghi Simple

by Yotam Ottolenghi

While there is immense value in fully engaging with the challenges you are tackling, it is also important to allow yourself to step back and take a breath...and while you’re at it, refuel with some wholesome grub! From beloved chef Yotam Ottolenghi comes Ottolenghi Simple, your onestop guide to easy, healthy meals that will keep your body and mind in tip-top shape. With his tangible passion for his craft and signature mix of vibrant colours and flavours, Ottolenghi reminds us that there is beauty to be found in even the simplest corners of life.

The Complete Tassajara Cookbook: Recipes, Techniques, and Reflections from the Famed Zen Kitchen By Edward Espe Brown

Edward Brown’s Complete Tassajara Cookbook is a great complement to Ottolenghi, drawing on his years running the kitchen at California’s world-renowned Tassajara Zen Mountain Center, and pairing recipes with light anecdotes and insightful reflections. Brown’s approach is looser and freer than the demands of conventional cookbooks – exactly right for our present times, in which we could all do with a little more freedom and forgiveness. One of the book’s highlights is Brown’s tale of seeking advice from Buddhist monk Suzuki Roshi, who was head of the monastery at the time. Roshi advises, “When you’re cutting carrots, cut carrots.” Brown reflects that Roshi helped him bring calm and mindfulness to each moment of life; it’s not always necessary to do more, sometimes it’s about doing life slightly differently.

Down Second Avenue

by Es’kia Mphahlele

In times of difficulty, it can be immensely helpful to turn to the stories of people who have endured and overcome hardship. Es’kia Mphahlele’s autobiography Down Second Avenue details his journey from a child born into the poverty and oppression of apartheid, to becoming a world-renowned activist, author, teacher and African cultural icon. His life was one of constantly seeking to rise above, resulting in triumph against a system that sought to grind him down.

Solitary

by Albert Woodfox

Albert Woodfox’s Solitary, shortlisted for the Pulitzer Prize in 2019, details his story of spending over 40 years in solitary confinement after being wrongfully convicted of murdering a prison guard in 1972. Woodfox’s story illuminates his dedication to maintaining hope and compassion despite the odds stacked against him, and pays testament to the unbreakable power of the human spirit. Like Mphahlele, Woodfox keeps his purpose burning bright in the darkness moments, and proves that you can overcome.

The Gifts of Reading

Curated by Jennie Orchard

Inspired by the eponymous 2016 essay by Robert Macfarlane, The Gifts of Reading is a rich collection of essays on the joys of literature from some of the world’s most beloved authors, novelists and poets. Published to coincide with the 20th anniversary of Room to Read, a global literacy non-profit, all royalties from The Gifts of Reading are donated to the organisation. Reignite your love for literature, contribute to positive change, and find a few new gems to add to your reading list, courtesy of the collection’s contributors.

Right now, we are finding our way through the dark. This is our time to review, renew and revolutionise the very systems upon which our lives have been built, so we’d better get prepared.

SO YOU WANT TO START A SMALL BUSINESS IN SOUTH AFRICA?

// By Montaque Swanepoel

During the worldwide pandemic, there has been a significant shift of individuals moving towards entrepreneurship and running their own small businesses. The reasons vary, and include everything from retrenchments to wanting more time with family at home or simply having a great idea for a start-up. As more and more systems and people shift towards online work and the cloud, it’s become easier than ever to start your own business (at least in terms of the day-to-day practicalities of working). The South African Government is also currently shifting focus to encouraging and supporting small business and entrepreneurship amongst its citizens, and definite progress is being made in the area.

However, it is still imperative that you make the right decisions early in the game when starting your new business, and that you are aware of the compliance elements needed to legally maintain it.

TO PTY OR NOT TO PTY?

The first step that is often missed is to consider whether you should be running your business as a private company or as a sole proprietorship. Both have their benefits, and should be carefully considered. It’s best to consult a professional when weighing up your options (there are a few others that they will be able to explain to you, too).

With a sole proprietorship, you run the business in your own capacity and name (you can still have a professional business name). This is the most simple route of starting a business, as you don’t need a company registration at the Companies and Intellectual Property Commission of South Africa (CIPC), or even to change your bank account. You can simply start running your business. However, it is always a good idea to try to separate your business bank account or keep very close track of the business expenses in some way. There are also some cons to be considered here. At the end of your financial year-end, you will need to file your personal income tax return, and all profit and withdrawals will be taxed at the personal income tax bracket, which can be higher than that of a private company. Another con would be that you will be personally liable for any debts, etc. that the business incurs.

With a private company, you have the benefit of the protection of limited liability and a lower income tax rate, however the associated cost involved to maintain the company is higher than that of a sole proprietor.

Starting a private company in South Africa is actually a fairly simple and efficient process. You can either register your own company on platforms such as CIPC or BizPortal. Or, if you need some advice, reach out to an accounting firm that specialises in small business. Registering a business should only take a couple of working days, and in some cases even just a few hours. Usually, it’s coming up with a good business name that takes up most of the time!

However, if your startup doesn’t work out, there are fairly complex processes involved in closing down the private company, whereas with a sole proprietorship, you can simply stop trading and there would be no implications or fees other than your tax returns.

From a compliance perspective, a lot of business owners are not aware of their responsibilities

– especially when operating as a private company.

Private company owners need to submit an annual return declaring turnover to the CIPC. If this is not done on a yearly basis, you risk your business being deregistered from the CIPC. You will also need to inform the CIPC if any changes have been made to your company information. Secondly, all tax submissions need to be submitted on time and paid accordingly to SARS. If you have no additional tax products, this will only include a yearly income tax return with annual financial statements and bi-annual provisional returns.

If you are a VAT vendor or have employees, there will also be VAT and EMP201 and EMP501 submissions involved. Failure to meet these requirements will result in SARS taking further action. Luckily, if your business has started running behind on tax deadlines, it isn’t too late to do a quick catch-up - with the help of a qualified accountant, you should be back up to date in no time.

Ultimately, the South African government has done a fantastic job of making it relatively easy to start your own business. It’s really important to get the right advice early on to make sure that you position yourself and the business in the best situation once things take off. Starting a business is hard enough, and when you have to start thinking about the red tape, it can seem an insurmountable task.

These are the high-level requirements in addition to complying with all the regulations set out in the Companies Act of South Africa. It’s still best to schedule a quick meeting with an accountant so that all aspects of your business are examined and you know exactly what is expected of you.

ABOUT THE AUTHOR

Montaque Swanepoel is a chartered accountant and founder of CFO360. CFO360 has helped hundreds of business owners to streamline their processes and understand their finances so that they can spend less time on admin, and more on the things that matter. Find out more at www.cfo360.co.za or get in touch at montaque@cfo360.co.za.

ESCAPING THE DEBT TRAP

// By Moroka Modiba

Financial expert and entrepreneur Moroka Modiba explains how to stop debt in its tracks and take care of your financial wellbeing.

When you start incurring debt, it is often easy to keep on borrowing. It’s a habit that is easily acquired. However, eventually you can fall into a debt trap – when you get to a point where you have to take out extra debt to pay outstanding debt. Paying one debt by using another kind of debt is like getting into quicksand: the harder you try to solve your debt problem using another debt, the deeper you sink. Eventually you will be in so deep, you won’t be able to get out. Many people reach a level of debt so overwhelming that they choose to give up. You become a slave to your debt, and live like a zombie serving a relentless master. You’re on the run, to the point of exhaustion. But there’s good news: getting rid of debt is not rocket science. I truly believe that no matter how hopeless your situation may appear, if you are determined to get rid of your debt, you can do it. What it takes can be summed up in six words. I call the process PAD PAF.

So, let’s look at how you can get out of the debt trap by tackling PAD PAF one bit at a time...

PLANNING

Planning is the most important part of the debt recovery process. It helps you put things into perspective. If you are in debt, you need to understand clearly what your financial status is, and decide where you want to be in the future. Once you have a clear understanding of this, it will be easier to draft a road map that will help you reach your destination. Since people’s financial challenges differ, my advice is always to work with people who have expertise in debt recovery, such as debt counsellors. A debt counsellor will be able to help you draw up a plan that takes into consideration all the important issues pertaining to your particular circumstances.

ACTION

There’s a saying that goes: “To eat an elephant, you need to take one bite at a time.” Many people want to solve a big problem through a single act, or by using a silver bullet. When the problem fails to disappear, they lose patience and motivation, and then give up. It is important to realise that big problems sometimes need to be tackled bit by bit. You have to take one step at a time. So, if you find yourself struggling with debt, sometimes it is best to settle one account at a time instead of trying to settle all of them at once. A good strategy is to settle the highestinterest loan first. You can do this by, for instance, channelling any extra income (such as your bonus or a salary increase) into this loan first. Once you have settled the loan with the highest interest, focus on settling the loan with the second-highest interest, and so on. If you find yourself struggling to structure and manage your debt repayments, seek advice from a debt counsellor.

DISCIPLINE

You can have the best plan designed by the best minds around, but if you can’t follow that plan because you lack discipline, you will always find yourself in the same position – or worse. Discipline is crucial when it comes to debt recovery. Lack of discipline will have you chasing your own tail like a crazed dog. In fact, you’ll be taking one step forwards, and then two steps back.

PATIENCE

People who master self-discipline are usually patient. They are the ones who will understand that the journey to debt recovery will be long. They also understand that any diversion from the path will prolong the journey. So, they remain focused on the road map, knowing that they will eventually get where they want to be. Someone who lacks patience will try to take short cuts, mistakenly thinking they’ll reach their goal sooner. They bring to mind the many taxi drivers on South Africa’s roads who switch lanes in a traffic jam to try to get ahead. In most cases, they end up in the slowest lane, or worse, in an accident. They often get there far too late – or never at all.

AMBITION

Ambition means having a strong desire to achieve something. It is important to have a goal and the desire to achieve that goal. I believe the higher you set your goal, the better. Decide now that your explicit goal is to get rid of all your unnecessary debt and live a debtfree life. You are far more likely to achieve a clear goal like this than a vague goal such as reducing your debt so that you can ‘live with it’.

FAITH

People who are positive in nature tend to accomplish more than those who are negative. Positive people always believe in a better future, while negative people always fear the worst. It’s easy to become discouraged when you believe that things can only get worse. “Ag, what’s the point?” you’ll hear them say. They give up before they even try. Having the faith that things will get better makes a huge difference between failure and success. I have been in the position of having to tell people who are in a ‘financial crisis’ that their debt-recovery process may take three to five years. The negative ones will jump up from their seat and say, “What?! Five years?!” Five years on, I often find that they are still in the same position. But I have also met people with a positive outlook who focus on the positive side of debt relief, believing that they’ll soon be able to enjoy a debt-free life after many years of being burdened by debt. Their attitude makes a huge difference.

ABOUT THE AUTHOR

Moroka Modiba is a businessman, entrepreneur and owner of Fatima Capital (Pty) Ltd, an authorised FSP that specialises in asset management. He has over 15 years of experience in the financial industry, ranging from baking and insurance to stockbroking and financial education. In 2018, he published his debut book, Think Yourself Rich: A Step-by-Step Guide to Financial Independence, as an accessible guide for anyone seeking financial independence and wellbeing.