BEAR RUN INVESTMENTS: CHAPTER 3
NELISIWE ON PLANNING
It’s been an exciting month for Nelisiwe Masango from Bear Run Investments. She’s hired a new consultant, freeing up time to focus on the planning aspects of her financial consulting business. Nelisiwe notes that in any industry, a sound business plan sets the foundation for future success and while a big time investment, can help save money (and even more time) in the long-term.
1.5 years after planning and with a marketing strategy in place, Nelisiwe launched Bear Run Investments. “Success is where planning meets opportunity”, she says, adding that insurance is also essential. Having an “umbrella” safety net - especially in the finance industry - gives Nelisiwe security and peace of mind.
Planning isn’t a once off thing. Nelisiwe relies on forethought when mapping out her annual business activity to ensure Bear Run Investments stays afloat during the quiet season. It means having to constantly adapt, anticipate different scenarios and continually work on her roadmap to success.
Planning is extremely important, doesn’t matter what business you’re in.
– Nelisiwe Masango, Bear Run Investments
COOKED INC.: CHAPTER 3
MARIAM ON PLANNING
Chapter 3 is all about planning and Mariam Jakoet Harris is back to share her thoughts around the importance of having a vision and mapping out a path for small business success. She tries to balance passion and forethought, highlighting the need to plan meals according to seasonality, costs and availability.
Budgeting and keeping a steady production flow of meals is imperative for the success of Cooked Inc. and Mariam’s learnt to adopt a realistic approach to keep her ambitions feasible. She says that planning and money go hand in hand, especially when working toward reaching her targets. Being conservative and making considered financial decisions to avoid debt is a big part of Mariam’s strategic approach.
Having had experience in a corporate company allowed Mariam to hone her planning skills and appreciate the value of seeing the bigger picture. It’s about looking ahead and developing a battle plan to ensure that Cooked Inc. is set for long-term success.
Planning and reaching your targets go hand in hand.
– Mariam Jakoet Harris, Cooked Inc.
WHAT THEY DON’T TELL YOU ABOUT PLANNING
of entrepreneurs said they prioritised a business plan during their planning phase
of respondents in our start-up survey said they had a “jump in and learn” approach to planning
Planning was seen as very valuable and though they didn’t all do it upfront, respondents recognised the fundamental role it played for financial preparation and future-proofing a business.
For deeper insights into the South African small business landscape, take a look at the Santam start-up survey results.
EXPERT BUSINESS ADVICE
SMALL BUSINESS PLANNING: HOW AND WHY?
If you’re an entrepreneur looking for advice on how to approach planning, take a look at our latest blog post. We’ve put together some helpful info to outline the role planning plays in the bigger picture when building your small business.
TAKE THE INSTANT POLL
When you began your business journey, what was your top planning priority? Take the poll to reveal what others said:
Most of our respondents prioritised their business plan but marketing strategies, understanding competitors and financial planning came in close behind.
SMALL BUSINESS INSURANCE
From retail to service-oriented entrepreneurial ventures, every start-up is unique. Is your small business properly covered? Santam’s small business insurance offering gives you cover to suit your needs so you can get to day 1001, and beyond.
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WORKING WITH PEOPLERead story
Next: Chapter 4
DOES A MENTOR REALLY MATTER?
What value mentors can bring to budding entrepreneurs? Check in next month to find out.
1001 DAYS OF BUSINESS
Ensure your start-up makes it to 1001 days and beyond with a tailored small business insurance solution from Santam starting at R162 per month.
THE SANTAM START-UP SURVEY
Take a look at the comprehensive survey we conducted on over 600 small to medium enterprises in South Africa.