Digital First:”You were created for times like this”

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Maranda Joiner has had an entrepreneurial mind for several years. She owns her own brand strategist business called Maranda J Marketing where her main goal is to help people become better business owner through story telling. During this stay at home order she says if you’re an entrepreneur, ” you were created for times this”.

HERE ARE A FEW THINGS THAT CAN HELPO DURING THIS "STAY AT HOME" ORDER.

1. Have a solid business plan

Planning plays a crucial role in any business success. A business plan is a good place to start – defining your skills and weaknesses, what you offer, how it’s unique and how you plan on growing your offering. What’s more, try to prepare yourself mentally and practically for anything that could go wrong and how you would deal with it. For example, what happens if you get injured? What if clients pay you a month late? What if a weather disaster affects you? Or a trusted supplier goes bankrupt?

2. Prepare for financial challenges

ou could offer clients a discount if they pay a deposit or the full amount upfront, or even an incentive – e.g. pay 10% less if you deliver your product or service a week earlier. Whatever you do, be extremely careful of debt – this is one of the biggest killers of small business success.

3. Be frugal – remember you’re a start-up

Resist the temptation to splash out on fancy offices, expensive equipment and over-the-top marketing. Your company’s livelihood depends on what’s in your wallet so every rand and cent must be triple-checked. Maintain a low overhead and manage your cash flow effectively.

4. Don’t be afraid to ask for help

There are loads of resources out there for networking, knowledge sharing and advice. Networking is not just for new business opportunities; it can be a wonderful source of support and fresh ideas. Attend events . Don’t hesitate to ask for advice from those around you (such as your intermediary, bank manager, landlord or neighbouring businesses),  or online forums and Facebook community groups in your area.

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