Outsmarting the recession Presented by Riana Grobler

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Outsmarting the recessionPresented by Riana
Grobler
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Niche markets
Franchises
Farmers
Self-employed professionals(medical, legal,
accounting, engineering etc)
Family owned businesses (FOB)
Small Office Home Office (SOHO)
Selected niche markets
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Franchise industry

• 81 success rate compared to 25 of independent
  start-ups.
• Advantage of Franchising Huge contribution to
  employment.
• Growing at a rate of 30 p.a. (according to FASA
  Franchise association of South Africa).
• Growing trend to lower distribution costs
  expand the business.

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Family businesses (FOBs) in South Africa

• Approx. 80 of SA businesses
• Family Businesses have outlasted governments,
  nations cities
• FOBs wealth creator all over globe

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Family business association of South Africa -
FABASA

• Old Mutual founding sponsor
• Mouthpiece for Family businesses in South Africa
• Independent body
• 1st President is Fanie van der Merwe of Boplaas
  oldest family business in SA 9th generation

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11 point plan How to survive in the present
economic climate
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Firstly

• Improve your market position/regain market share
• Consider - Reducing business expenses without
• compromising on quality.
• How?
• Suspending business class travel
• Replace client dinners with breakfasts
• Sharing office space/relocate to less expensive
  premises.
• Cut expenses, not quality of products/services

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2. Motivate your staff

• Imperative to encourage, motivate reward your
  top personnel
• Beware of reducing staff only to cut costs
• Have to train new recruits
• Costly exercise in the long run.

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3. Open discussion with staff

• Positive spin-offs
• Employees offer advice,
• Support even go extra mile.
• Inspire staff to work harder smarter.

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4. Meet customer needs

• Speak to existing and loyal client base
• Continue satisfying their needs.
• Look for ways to add even more value.

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5. Marketing strategies

• Present client base
• Increase marketing efforts target existing
  clients
• Sell more to them
• Defined approach allow you to reduce marketing
• spend in other areas

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6.Time is money

• Develop tighter work schedules
• Results-driven schedules designed to
• Improve profitability
• Improve sustainability.
• Never mistake schedules, or activities for
• achievement John Wooden

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7. New profit growth opportunities

• Not in line with market needs
• More of the same
• Differentiate yourself
• Create scarcity in an era of plenty
• New cash cows new niche markets.
• Your profits may be locked in your stock.

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8. Cash is King Debt destroy

• Economies are cyclical
• Plan for next recession START SAVING!!
• Repay your business debt
• Get cash positive
• It is not how much you make that counts, but how
  much money you keep. Robert Kiyosaki

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9. Trust yourself

• Keep your faith
• Believe in yourself
• Believe in your business
• Always keep a positive attitude!!

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10. Look at the big picture

• No room for the small-minded
• Singer, Loretta Lynn nailed it when she said
• You gotta be first, best or different.

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11. Consider assistance

• Specialist consultants
• Accountants
• Business consultants.
• To identify problem areas
• Provide solutions to challenges.
• Acknowledge your problems seek solutions.
• Your business is worth it!

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Six Simple guidelines for success

• There is no secret to success, success is for
  everyone.
• Your business will only get better, if you as the
  owner becomes better.
• There can be no success, without sacrifice.
• Success is achieved in millimeters not in
  kilometers.
• The greatest enemy of tomorrows success is
  todays success.
• Advice on success will work, but then you have to
  implement it.
• John C Maxwell

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STORY TIME
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Conclusion

• You hold the key to the success of your business.
• Think big!
• Believe in yourself in your business you
• will not only survive, but thrive into the
• future!!

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Thank youRiana Groblerrgrobler_at_oldmutual.com