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Outsmarting the recession Presented by Riana Grobler

Learn how to thrive in tough economic times with tips on reducing expenses, motivating staff, and seizing new opportunities. Discover the advantages of franchising and family-owned businesses in outsmarting the recession.

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Outsmarting the recession Presented by Riana Grobler

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  1. Outsmarting the recessionPresented by Riana Grobler

  2. Niche markets Franchises Family owned businesses (FOB) Farmers Small Office Home Office (SOHO) Self-employed professionals(medical, legal, accounting, engineering etc) Selected niche markets

  3. 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. Franchise industry

  4. Approx. 80% of SA businesses Family Businesses have outlasted governments, nations & cities FOBs wealth creator all over globe Family businesses (FOBs) in South Africa

  5. 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 Family business association of South Africa - FABASA

  6. 11 point plan How to survive in the present economic climate

  7. 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 Firstly

  8. 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. 2. Motivate your staff

  9. Positive spin-offs: Employees offer advice, Support & even go extra mile. Inspire staff to work harder & smarter. 3. Open discussion with staff

  10. Speak to existing and loyal client base; Continue satisfying their needs. Look for ways to add even more value. 4. Meet customer needs

  11. Present client base Increase marketing efforts – target existing clients Sell more to them Defined approach allow you to reduce marketing spend in other areas 5. Marketing strategies

  12. Develop tighter work schedules Results-driven schedules designed to Improve profitability & Improve sustainability. Never mistake schedules, or activities for achievement John Wooden 6.Time is money

  13. 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. 7. New profit & growth opportunities

  14. 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 8. Cash is King – Debt destroy

  15. Keep your faith; Believe in yourself; Believe in your business; Always keep a positive attitude!! 9. Trust yourself

  16. No room for the small-minded Singer, Loretta Lynn nailed it when she said: “You gotta be first, best or different.” 10. Look at the big picture

  17. Specialist consultants: Accountants; Business consultants. To identify problem areas; Provide solutions to challenges. Acknowledge your problems & seek solutions. Your business is worth it! 11. Consider assistance

  18. 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!! Conclusion

  19. Thank youRiana Groblerrgrobler@oldmutual.com

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