I have been in discussions with many Medium-, Small- and Micro Business owners who view their business as “just a small business”, and themselves, as “just a small business owner”.
This is what “just” looks like in South Africa, the formal definition of Medium-, Small- and Micro Business, depending on the sector or sub-sector –
- Medium :
- Total full-time equivalent of paid employes, between 51 and 250
- Total annual turnover, up to R220mio
- Small :
- Total full-time equivalent of paid employes, between 11 and 50
- Total annual turnover, up to R80mio
- Micro :
- Total full-time equivalent of paid employes, up to 10
- Total annual turnover, up to R20mio
2019 National Small Business Survey
The latest research from the “2019 National Small Business Survey” shows that 35% of respondents believe that their “biggest business mistake” was “failing to market my business”.
Their second biggest mistake (21%) was “selling myself short”.
When asked “What is the biggest obstacle holding your business back from growing?”, most owners answered, “Lack of funding/Poor Cash flow”.
Although only 35% said failing to market their business was their biggest business mistake, when asked for an estimate of their total marketing budget, 40% of respondents said “I don’t have a specific budget, I keep it flexible”.
My experience is that many business owners don’t have a formal Budget.
In response to the question, “what is the most important area where you require assistance?”, in order of importance, answers were (1) Sales & Marketing, (2) Business & Strategic Management, and (3) Financial Management.
So here’s my issue
Business owners are not Budgeting for marketing, because they like to keep it flexible; not marketing their businesses, was their biggest mistake; they need assistance with Sales & Marketing; their the biggest obstacle holding their businesses back from growing is cash flow; and the 2nd and 3rd most important areas they need assistance with is Business & Strategic Management, and Financial Management.
It seems that business owners, at least the ones that participated in the survey, have a problem with Business & Strategic Management, and not Sales & Marketing and Financial Management.
Here is my solution
Specific to business owners in Gauteng.
I challenge Medium-, Small- and Micro Business owners to join me on of two membership peer-to-peer advisory boards.
Each group will consist of no more than seven unique business owners. No two members will conduct the same type of business.
Members are to be from the following sectors –
Manufacturing; Electricity, Gas & Water; Construction; Wholesale; Transport, Storage & Communication; and Finance & Business Services.
Applications are open until close of business on Friday, 28 February, 2020.
March will be for selection meetings.
Boards to have their first meeting in April, 2020.
How it works
Joining one of these two membership peer-to-peer advisory boards is a mutual selection process of two steps.
I will meet twice with each prospective member before we, together, decide if there is a fit or not.
Each peer-to-peer advisory board of seven non-competitive-industry business owners will meet once a month on a confidential basis – each member signs an NDA.
During each facilitated session, each business owner will get to present a specific topic to their peers, for their advice – typically an opportunity or threat to their business at that point in time.
Using the collective +-150 years’ practical business experience around the table, the advice and guidance will not only help business owners make better decisions but also hold them accountable for improving their businesses through execution.
Each board discussion is complemented by a one-on-one meeting, once a month, between me (certified TAB facilitator) and each business owner.
These meetings are conducted using TAB’s proprietary tools, to review the progress to goals and identify possible current opportunities and threats to the business.
All engagements are about real business matters, tangible issues that can dramatically change the success of the business, and the life of its owner.
A monthly membership investment is payable
The Alternative Board® (TAB) provides business owners an exclusive online, 24/7/365 available Business-, and Strategic Management system to access solutions, experiences and expertise of other local and international business owners, to work through their their own unique issues and opportunities.
Our more than twenty thousand business owners, from twenty countries over the last thirty years, have proven to us there are indeed two issues – Business Management, and Strategic Management, and that when this is dealt with correctly, all the other business challenges are “business as usual”.
During the first three months you will have zero financial risk. You will be required to attend three consecutive peer-to-peer advisory board meetings, and three one-on-one meetings. One-on-one meetings will be two weeks before each peer-to-peer advisory board meeting.
Provided you follow these two rules, if at the end of the three months you did not get value for your money and time, I will refund your full investment.
You will be required to pay a once-off, non-refundable DISC Communication Analysis fee. It is critically important that all members know their communication styles, and understand their fellow board members’, to ensure we all get the best experience.
This opportunity is only available to business owners that are serious about their future.
Apply here – http://bit.ly/JoinTABBoard
Bold Co-owner – The Alternative Board®