GRACE MASHABELA CONSULTING

I've met many start-up entrepreneurs with great ideas that can never seem to take flight. What then happens is they try to make the same formula work over and over till they can longer convince themselves that it can work somehow. I've heard some pretty scary stories of the length people have gone to to make such business ideas work, some of which may have merit and some that are just downright too crazy. We look at one of these tendencies growing rife in the business entrepreneurship community today:

Skirting the Edges of the Law

Embezzlement is only on TV, and also when the hero turned villain gets away with it (parting shot of man in speed boat sailing toward bombshell accomplice who happens to be waiting at a private island harbor with a suitcase of the money they just cheated someone out of. The reality is there are multiple international laws and regulations that are deliberately designed to catch out these very criminals. Yes, the minute you break the law you are a criminal, regardless of the understandable circumstances that may have led to your behavior. Some of the criminal tendencies we see in our society today, even in the small business community, include corruption, misappropriation of funds, fraud, embezzlement and money laundering. Because of the convenience and rapid rise of the use of technology, we have even come to be made aware or fallen victim to even more serious white collar crimes such as Ponzi and West African investment schemes. 

Here's a deal: quite a good number of people who end up on the wrong side of the law from the business community start out with the best of intentions. The problem happens when they then fail to seek out professional help when they face a problem that is beyond their skills and competencies. A good example is that of a small business owner who offers a bribe to an official to gain a competitive edge over a larger, more experienced competitor with better capacity and competencies. 

How do you gain the edge over bigger fish and build a sustainable business that can help you fend for yourself and others? The answers are not easy. Key to preparing for business success is mapping out a deliberate, elaborate and realistic plan of your business. We have all heard about business planning and even loathed it for more than a few understandable reason. However, business planning can not only save you from making grave, costly business mistakes but can help you map out a step-by-step, easy-to-follow plan to achieving the life of your dreams. 

Why then do we struggle so much to embrace business planning as a crucial part of the success of the business. In a recent GMC study, three out of four start-up business owners admitted to never deliberately writing down a plan for their business. It was ascertained that one of the major reasons included a lack of skills and know-how, limited time, little understanding of how to use business planning and impatience with the process of writing a business plan.

Thought leader in entrepreneurship, online ezine www.entrepreneurmag.co.za suggests in a January 2012 article that many entrepreneurs become infatuated with a business idea before they have properly evaluated whether it is worth the time they need to invest in it. This makes sense: new ideas are like a powerful drug. Sometimes the pull is so powerful that entrepreneurs spend time trying to prove that the idea can be made to work than finding out if it does actually work. In the next couple of series we will look at Feasibility Testing and Defining of an Idea or Concept. Both skills can help you move on from the genius of your idea to its marketability and profitability.

Let's get back to finding solutions. There are 2 considerations to make when starting and building a small business: 

1. Research is KING. Internet research has made a world of difference to businesses big and small since the advent of the world wide web. We are very grateful. However, research is quite vast and versatile and can furnish you with money-saving and money making information if done well. Grace Mashabela Consulting specializes seven different types of marketing research to widen the search for answers to market needs. Speak to us today to find out how we can help you put your best foot forward (gracemashabelaconsulting@gmail.com)
2. Patience is a virtue. We often ignore the very cliches that have a great record of working well. If you look up synonyms for the word "virtue" you will find words such as:

• righteousness
  
• morality
  
• uprightness
• integrity
  
• dignity
  
• and goodness.
  

I've met many start-up entrepreneurs with great ideas that can never seem to take flight. What then happens is they try to make the same formula work over and over till they can longer convince themselves that it can work somehow. I've heard some pretty scary stories of the length people have gone to to make such business ideas work, some of which may have merit and some that are just downright too crazy. We look at one of these tendencies growing rife in the business entrepreneurship community today:

Skirting the Edges of the Law

Embezzlement is only on TV, and also when the hero turned villain gets away with it (parting shot of man in speed boat sailing toward bombshell accomplice who happens to be waiting at a private island harbor with a suitcase of the money they just cheated someone out of. The reality is there are multiple international laws and regulations that are deliberately designed to catch out these very criminals. Yes, the minute you break the law you are a criminal, regardless of the understandable circumstances that may have led to your behavior. Some of the criminal tendencies we see in our society today, even in the small business community, include corruption, misappropriation of funds, fraud, embezzlement and money laundering. Because of the convenience and rapid rise of the use of technology, we have even come to be made aware or fallen victim to even more serious white collar crimes such as Ponzi and West African investment schemes. 

Here's a deal: quite a good number of people who end up on the wrong side of the law from the business community start out with the best of intentions. The problem happens when they then fail to seek out professional help when they face a problem that is beyond their skills and competencies. A good example is that of a small business owner who offers a bribe to an official to gain a competitive edge over a larger, more experienced competitor with better capacity and competencies. 

How do you gain the edge over bigger fish and build a sustainable business that can help you fend for yourself and others? The answers are not easy. Key to preparing for business success is mapping out a deliberate, elaborate and realistic plan of your business. We have all heard about business planning and even loathed it for more than a few understandable reason. However, business planning can not only save you from making grave, costly business mistakes but can help you map out a step-by-step, easy-to-follow plan to achieving the life of your dreams. 

Why then do we struggle so much to embrace business planning as a crucial part of the success of the business. In a recent GMC study, three out of four start-up business owners admitted to never deliberately writing down a plan for their business. It was ascertained that one of the major reasons included a lack of skills and know-how, limited time, little understanding of how to use business planning and impatience with the process of writing a business plan.

Thought leader in entrepreneurship, online ezine www.entrepreneurmag.co.za suggests in a January 2012 article that many entrepreneurs become infatuated with a business idea before they have properly evaluated whether it is worth the time they need to invest in it. This makes sense: new ideas are like a powerful drug. Sometimes the pull is so powerful that entrepreneurs spend time trying to prove that the idea can be made to work than finding out if it does actually work. In the next couple of series we will look at Feasibility Testing and Defining of an Idea or Concept. Both skills can help you move on from the genius of your idea to its marketability and profitability.

Let's get back to finding solutions. There are 2 considerations to make when starting and building a small business: 

1. Research is KING. Internet research has made a world of difference to businesses big and small since the advent of the world wide web. We are very grateful. However, research is quite vast and versatile and can furnish you with money-saving and money making information if done well. Grace Mashabela Consulting specializes seven different types of marketing research to widen the search for answers to market needs. Speak to us today to find out how we can help you put your best foot forward (gracemashabelaconsulting@gmail.com)
2. Patience is a virtue. We often ignore the very cliches that have a great record of working well. If you look up synonyms for the word "virtue" you will find words such as:

• righteousness
  
• morality
  
• uprightness
• integrity
  
• dignity
  
• and goodness.