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Heading 1 ( A rial bold - point size 2 2 ). Softline Pastel - Over 20 Years in the Making Steven Cohen. Heading 1 ( A rial bold - point size 2 2 ). Our Story Business founded with 3 partners in 1989 and 2 employees Supporting , manufacturing and distributing accounting software

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  1. Heading 1 (Arial bold - point size 22) Softline Pastel - Over 20 Years in the Making • Steven Cohen

  2. Heading 1 (Arial bold - point size 22) Our Story • Business founded with 3 partners in 1989 and 2 employees • Supporting, manufacturing and distributing accounting software • Business sold to major JSE listed IT business in 1994 • Management buyout in 1996 and listed on the JSE in 1997 • Grew the business organically – but also used equity to grow by acquisition – acquisitive vs organic growth • Hostile bid in 2003 - de-listed from the JSE – Sage PLC acquires 100% • Today part of the Sage global business with over 6 million business users of our products – Sage employsover 8,000 employees • Strong throughout the UK, Europe, North America,Africa, and Australia

  3. Heading 1 (Arial bold - point size 22) What can you learn from “Our Story” • In the beginning, the owners do everything • Very considered and “anxious” about the next “move” • How do they grow? • Anxiety around overheads • Slowly begin to acquire more customers • Hire more employees • Working capital and finance issues • System issues • More stakeholders • “Exposure” in the market brings more challenges • Competitors • Public awareness • Working capital requirements

  4. Heading 1 (Arial bold - point size 22) What can you learn from “Our Story” What mistakes did we make in the beginning ? • Scared to hire good people because they cost too much • Accounting systems – too busy to analyse and think about the numbers • Culture of the business – we let the wrong people through the “gate” • Learn to say NO easily – allows you to then say YES at the right time • Sometimes lost focus in the pursuit of turnover • Don’t let anxiety strangle your business • Issue equity only to partners who can add value • Don’t be scared of debt

  5. Heading 1 (Arial bold - point size 22) What can you learn from “Our Story” • What are we now doing right ? • Learning to sell our value proposition confidently • Using our information systems to help us understand our business – not only to “balance the books” • Plans are a waste of time, but planning is essential • Not distracted by the small stuff :Important vs Urgent – don’t take your eye off the ball by only concentrating on the urgent stuff • Leading by example – it lends credibility • Hiring the right people and making sure the good ones stay • Moving out the bad ones • Making sure the cultures right

  6. Heading 1 (Arial bold - point size 22) What can you learn from “Our Story” • What are we now doing right ? • Know your weaknesses and don’t be embarrassed by them • Never forget where you came from • Make your employees love coming to work (not easy) • Give them responsibility • Allow them to make considered mistakes – don’t punish them • KEEP THEM INFORMED! • Educate them – generally and within the industry • Recognise good work for people who go the extra mile!

  7. Heading 1 (Arial bold - point size 22) The Road Ahead • Invest/spend for sustainability – this often takes guts! • Remember – your business needs to outlive you • Employees don’t work “for you” rather they work “with you” – and you all work for the business • Understand your competitors – always • Understand where your industry is going – always • To identify trends, you need to read, read, read • – and share this information with your employees

  8. Heading 1 (Arial bold - point size 22) The Road Ahead • Make your own opinions and draw your own conclusions • Be confident but not arrogant • Look after your customers – credibility through word of mouth is invaluable • Procrastination is the enemy of progress withinyour business – make a decision and move on! • Keep your promises and get back to people– don’t clutter your mind with unfinished business

  9. Heading 1 (Arial bold - point size 22) The Road Ahead • Don’t be defensive – it destroys your self growth and frustrates the flow of opinions • Keep your mind clear by taking care of the necessities – admin and systems – when your admin is bad, everything suffers and time is spent on tidying up non-critical areas of the business • Give back to the community – it makes you feel goodand you are growing your future customers • Get to the “Sweet Spot Quickly” and alwaysbe relevant • Don’t complicate the easy stuff to make yourselffeel important • Keep your eye on strategic issues – but without execution, strategy is meaningless

  10. Heading 1 (Arial bold - point size 22) The Road Ahead Nearly all men can stand adversity, but if you want to test a man's character, give him power. Abraham Lincoln

  11. Heading 1 (Arial bold - point size 22) THANK YOU FOR YOUR TIME

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