Financial Business Tips

13 May 2015

Financial Business Tips

by Sasha Anderson | posted in: Business Risk, General, How To | 1

I must confess I don’t have much life experience with regards to the topic of ‘Financial Tips for Business’, considering this I decided to take some advice from those more qualified and have relied heavily on my research skills.There were many tips I came across while scouring various news articles, business columns and financial websites, too many in fact to mention in one blog.

So I decided to list those that seemed most prevalent in my research.

Goals: Financial goals inform what to strive for, focus on and what expectations are. Goals enable everyone to work collaboratively to achieve success, which allows companies to realize more financial achievements. It is important to keep financial goals measurable and realistic. Timeframes, values and targets are measurable components to include.

Budget: A budget helps keep track of cash flows, increase reserves, minimizes unnecessary spending, gives you a clear plan for all income and expenses and should be updated regularly.

Cash Flow: A cash flow analysis is an integral part of operating a successful business; it enables a business owner to understand gains, losses and identify financial concerns as they arise in order to resolve them early.

Debtors: Implement procedures to avoid late payments by Debtors. Make your credit terms and conditions obvious from the start. Issue invoices promptly that are clear and accurate. An automated credit management system will help to keep track of debtors’ accounts.

Creditors: It’s important that you meet your obligations; failing to meet deadlines can incur fines and interest. These are unnecessary costs that can be avoided with planning.

Savings: When times are tough, it is vital to have the comfort of knowing you have savings to rely on. Take the time to grow, strengthen and secure savings.

Support: Choose the right finance partner, establish a good relationship with them from the start and if you think your bank isn’t providing you with the best deal on your short-term borrowing, overdraft or investment facility think about alternative arrangements.

To summarize: a prosperous and profitable business needs planning and organisation in all aspects. If however, you like me are not a business owner remember as an individual we can also use many of the financial tips listed above in order to achieve our own financial freedom.

“A good financial plan is a road map that shows us exactly how the choices we make today will affect our future.” Alexa Von Tobel

Further Reading/Sources:
http://www.bbb.org/sdoc/news-events/news-releases/2015/01/financial-tips-for-your-business-in-2015/
http://www.theadviser.com.au/blog/31382-financial-tips-for-a-thriving-business-in-2015
http://www.santabanta.com/sms/quotes/business-and-finance/79/?page=3
https://www.learnvest.com

About Sasha Anderson

Millennial Mom + wife living the hash-tag life. Reach out if you want to talk: L2B, social media, construction, technology, marriage, parenting, popular culture and travel. Remember: If You Fail - Fail Forward

12 May 2015

Human Resources & Human Capital Tips

by Sherina Shawe | posted in: Business Risk, General, Life Lessons, Uncategorized | 0

Say what now????

This topic is definitely not something I sit around on the weekend bantering about, so believe me when I say I was not 100% excited to write about it…. well at first anyway, then I gave myself the “Knowledge is Power” pep talk and took to Google for some inspiration!

So Human Resources vs Human Capital….

Human resources is the set of individuals who make up the workforce of an organization, business sector, or economy.

Human capital is the stock of knowledge, habits, social and personality attributes, including creativity, embodied in the ability to perform labor so as to produce economic value. (not limited to the work place)
So from what I can gather, Human capital is the development of your work force, this in theory gives them a feel good feeling, encouraging performance and in turn grows your company revenue. 😉

This seems like the most logical way to run an organization right?

Well, I remember being in my early 20s and going to my first few interviews and being shot down right after them asking “So what experience do you have?”… “ummmm well I’m 20… so anything more than waiting tables and a killer coinage hand… not much!”

Where exactly would I acquire this experience they were all talking about?

Yes I understand its important to hire employees who can come into your organization and pick up right where possibly the last person left, but…. wouldn’t it be more important to hire some one who WANTS to do that? Eager and ready to learn, grow, develop and improve their skills?
So what I’m getting at is, Attitude has to trump experience! Surely? Right?

Now for obvious reasons, this strategy is only going to work if you follow through and actually grow your newbies.
Hiring someone with zero experience followed by no development is going to break your business!
So where do you start? How do you improve your companies Human Capital?

Don’t let employees become complacent or stagnant.
Offer and encourage education in terms of in-house courses, training, webinars and literature.
Reward – this will inspire your workforce to do more and be more.

Now Human capital goes both ways, it is not solely the employers responsibility.
As an employee, you need to initiate development with in yourself.

know the philosophy of the company you work for, this will give you an idea of where your employer is striving to take his company, giving you an advantage over the rest of your colleagues that are only interested in collecting their monthly pay cheque.
Don’t limit yourself, further your education where possible, this doesn’t have to be formal if finances don’t permit it, but use the resource the world-wide-web so readily provides us with.
“Wear more than one hat” meaning don’t be scared to learn every aspect of what your company does.

Ultimately realise that Human Capital is personal, better yourself where ever possible, learn a new language, a new skill, read about a topic you would not usually read about, broaden your vocabulary, start a blog, get involved in a community sport or fund raising activity, get creative!

Learning something new has to be one of the most rewarding feelings and very seldom goes unnoticed not to mention, more often than not this will inspire the next person:)

So here’s my final food for thought.

Something for the employer to think about:
CFO asks CEO: “What happens if we invest in developing our people & then they leave us?” CEO: ‘What happens if we don’t, and they stay?”
And something for the employee to think about:
“The more that you read, the more things you will know. The more that you learn, the more places you’ll go.”
― Dr. Seuss,

And look…. I just wrote about something I started out knowing NOTHING about, and now I think I may possibly have the ability to hold a 2 minute uninterrupted conversation about it…. ahhhh look at me grow!

🙂 😉

About Sherina Shawe

I am a strong believer in "What you put in , is what you will get out" and this drives me every day, whether it's at home with my gorgeous family or at work where I get to fuel my competitive spirit. I love who I am and who I'm becoming. I love where I am , but more importantly where I'm going.... #EternalOptimist #Aspire2Inspire

6 May 2015

Time Management Tips for your Business

by Bianca Warwick | posted in: Business Risk, General, How To | 19

As Dr. Seuss says:

“How did it get so late, so soon?”

When I think of time management, I immediately think of the Bar-One chocolate. For a 25-hour day. It always seems as though there are just too few hours in a day. An 8-hour working day is only 480 minutes. This, however, is one issue that chocolate (unfortunately) cannot solve. Effective time management is the answer.

Time management is the process of organising and planning how much time you spend on specific activities. Being busy is not the same as being effective and spending copious amounts of time working on different activities throughout the day, often leaves you with little to show for it at the end of the day. Most of us are familiar with the phrase “work smarter, not harder”.

Time management is a skill that everyone can learn. Here are ten tips that I believe will assist you in developing the skill further:

1. MAKE NOTES. For me personally, this is one of the most important tasks. Make a note of everything you need to do, instead of trying to remember everything in your head. This will help you to plan your day.
2. ORGANISE YOUR WORKSPACE. A cluttered workspace creates distraction. Only keep what you need on your desk.
3. PRIORITISE TASKS. Divide them up into three groups, from most important, to moderate and least important. Always start with the most important, even if you can only complete a small part of the task.
4. SET TIME LIMITS. Setting time limits is very important for keeping focused on the task at hand, and to avoid procrastination.
5. KNOW YOUR LONG-TERM GOALS. Review your work on a regular basis to ensure that what you are achieving, is in line with your goals and targets.
6. DELEGATE. You can’t delegate everything and anything, however, if there is someone else with the necessary skills and time, they can assist you by taking on the task.
7. USE A CALENDAR. This is a useful tool for managing your daily activities. An online calendar tool, i.e. on your mail client, enables you to access your calendar from wherever you are. Use this calendar to mark out deadlines.
8. TARGET TO BE EARLY. When you plan to meet a target on time, you will either be on time or late. However, if you target to be early, you will most likely be on time.
9. KEEP THE BALANCE. It is important to manage your time so that you can include various aspects of your life into your day, such as work, family, friends and your health.
10. Last, but certainly not least, TAKE A BREAK. If you overwork yourself, you will tire yourself out and become less productive.

And so to end, I would like to leave you with the following thought:

“The bad news is time flies. The good news is you’re the pilot.” – Michael Altshuler

Sources:
http://www.mindtools.com/pages/article/newHTE_00.htm
https://ascendtraining.wordpress.com/2014/12/03/competencies-of-great-supervisors-part-13-time-management/
http://www.dummies.com/how-to/content/top-time-management-tips0.html
https://ascendtraining.wordpress.com/2014/12/03/competencies-of-great-supervisors-part-13-time-management/
http://www.cimaglobal.com/Thought-leadership/Newsletters/Insight-e-magazine/Insight-2012/Insight-October-2012/First-things-first-prioritising-tasks-for-better-time-management/
http://www.lifehack.org/articles/lifehack/20-quick-tips-for-better-time-management.html

About Bianca Warwick

I had the privilege of joining the Leads 2 Business content team in January 2012. I work in the exciting Projects department, following the progress of construction developments in KwaZulu-Natal and the Free State.

22 Apr 2015

When we talk about Risk

by Brad Hutton | posted in: Business Risk, General | 0

When we talk of risk, we often associate this with things such as Car Insurance or some form of insurance.

We talk of risk like it is something we can calculate and reduce to Rands per million at a premium per month.

I would like to share a few experiences of taking a Risk, which cannot be calculated. Unless you have a lot of time on your hands, and lack a sense of humour.

As a young man, I would often think back to how my parents raised me. I would think carefully of the things they had done completely wrong like clipping me on the back of the head with a flat hand when I made an inappropriate comment, like chirping them for being lazy when they asked for a cup of tea or some help around the house. I recall thinking that in going to school and achieving an above average grade I had done my job, why should I also clean the pool or mow the lawn?

I was a cheeky little brat, I could drop comments and be sarcastic with the best of them. I didn’t like the way my parents raised me when I thought about it. I thought they could have done better!

When I met my wife we were both in agreement, our parents had done a poor job of it. The way they raised us was so risky, it is a surprise we made it to the chapel! We would be SO MUCH BETTER. These are the things we would never do.

Say the following: “I brought you into this world, I’ll take you out of it!” Nor any of those classic lines about taking a look off your face and such like.
Smack a child in public! (Very taboo).
Scold a child when they are tired.
Raise our voice in anger. (Like we would never be angry with our angels??)
Exceed the speed limit!
Start the car before each child has been strapped in or confirmed that his seat belt is clipped in.
Give the children sweets before driving any distance with them, or putting them to bed.
Smacking them across the back of the head – ever.
We would never yell at our child to not be stupid
We would never make them; do something, eat something, or be something they did not want to; do eat or be.
The list goes on.

How long do you think it took for me to hear my father’s voice in the garden, telling the two fools to stop bickering with each other? “If you two “chops” are bored, I’ll give you something to do! Don’t look at me like that, I’ll wipe that look right off your face!”

On more than one occasion, I have clipped my son on the back of the head for a comment or chirp he has fired at his mother, without even thinking – almost like it was instinct.

I have since, and on many occasions noted, with much humility and occasionally a little smile on my face, that the apple falls close to the tree. I am not my father, but I am not too different.

So why tell this story, why be vulnerable and share that I am not perfect? Well the truth is that not all risks can be calculated. Not all mistakes are avoidable. We make choices intuitively, and without so much as a thought.

We drive to work, drop off the children, walk across the street, run for exercise and think nothing of the collective risks we take.

When life throws us a curve ball. Take a swing at it!

Mountbatten Insurance consultants is an Independent Brokerage. We are parents, we are mothers and fathers who understand that you have not done the calculations, and you have not worked out what risks you are taking. You are quite likely just taking life one day at a time, and doing the very best that you can!

We do however have products that can help limit the impact of things going wrong in many areas of your life. Every product type we offer is there to help.

From Assurance (Life Cover, Disability Cover, Dread Disease), to Investing. From Insurance and all of it’s guises, Contractors all Risk, Guarantee’s, Event Liability to Household and vehicle insurance. We are here and available to help.

If you have read this article, and can identify in any way with what has been written, feel free to send a mail to sizaminakakhulu@gmail.com One lucky respondent will win one thousand rand. I will accept mails until the 30^th of July and respond to all on the 1^st of August.

If you would like additional information about what we can do to assist you with your daily risks, be it insuring a hole in one, or the risks associated with building a bridge, send an e-mail to brad@mountbatten.co.za We are here to partner with you in every aspect of your business and life.

About Brad Hutton

15 Apr 2015

Risk Analysis

by Nosihe Zulu | posted in: Business Risk, General, How To | 0

To jump or not to jump? That is the question.

I vividly remember when I was younger and my teacher asked me if I could swim the froggie (breast stroke to you and I), I wasn’t sure what that was but I knew two things.

I knew that a frog jumped on all fours and
I knew that swimming involved getting from one side of the pool to the other.

That was all the information I needed to come to my conclusion, I thought to myself. “I could do this?”. In a matter of seconds I had decided that I could swim, regardless of whether or not I had actually done this. I had seen a frog leap plenty times, I mean how much more different could it be in water?? In that moment I had made a conclusive decision to sink or swim.

One can say, I think, “That is crazy!” and I probably was. I think I could have won first prize for my bravery but that is what risk taking is all about, uncertainty. Risk taking presents a high level of uncertainty and this scenario is no different. There is always an element of uncertainty when taking risk. A few scenarios could have played themselves out in this situation but only one did, of course the level of uncertainty is heightened by the lack of knowledge and experience but it does not eliminate the fact that the objective was clear – getting to the other side (staying alive perhaps).

You see, the science behind the method of risk taking will take you through the steps of reducing the levels of uncertainty. Transforming a high risk situation to a low risk situation. Intellectuals will teach you different formulas, each advocating for their own method of how to best approach risk management. They will say try the KISS approach, try the Delphi method, do the SWOT analysis, conduct expert interviews or have collaborative workshops but somehow all too often produce the result of focusing on the “weeds” as described by Ovidiu Cretu et al in his book Risk Management for design and construction. This can actually cause what they call “analysis paralysis”. Where one becomes so fixated on the tiny details that it stops one from making progress towards taking risks.

Project managers and contractors will know all too well that there will always be an element of uncertainty in any project. The trick is to learn how to reduce it and when the plan doesn’t work out, to find ways of coping. If at some point you can’t avoid it or transfer the risk, Vickey Haney presents a few options of possible responses.

– Work around it

– Contingency plans

– Reserve Funds

– Follow a detailed plan

– “do nothing”

Although the last one seems non-response, it can sometimes be the best response. Taking risks is part of the game, learn it, play it and play it well. With a combination of faith, bravery and action; you too could also learn how to swim. Someone said “a life without risk is a life half lived”.

Risk Analysis requires an assessment of the risk, a belief in the risk you are taking, followed by the action of doing what is best for the situation. Sometimes no one can teach you that, you can choose to jump or not to jump. Perhaps we could learn a lesson from my youthful self and take the plunge. You can never fully eliminate risk but you can certainly reduce it so you can achieve the objective.

The risk will always be that you could sink, oh but what if you swim?

I did. What about you?

References:
Book: Risk Management for Design and Construction, Ovidiu Cretu, Robert B. Stewart, Terry Berends
http://pittsburgh.iiba.org/download/Chapter%20Meeting%20Presentation%2011-01%20%28Risk%20Management%29.pdf

Some quotes on good living,
http://www.goodreads.com/quotes/tag/living

About Nosihe Zulu

8 Apr 2015

Calculated Risk

by Sasha Anderson | posted in: Business Risk, General | 0

Are you a risk taker? Or do you play it safe?

I have always considered myself to be a ‘play it safe’ kind of person. The thought of bungee jumping gives me a surge of panic and I start to feel woozy, all I can think of are the indemnity forms and all those YouTube videos of ‘the bungee jump gone wrong’, so I put my feet firmly on the ground and breathe in and out and think to myself that’s for crazy people and I like the stability of this ground I’m standing on. If you are reading this and are like me you might be thinking, ‘that’s exactly me!’ but there are many things we could learn from the risk takers out there, not to mention the spectacular views we’re probably missing.

Great leaders and entrepreneurs don’t become great by being predictable and playing it safe. There are positives in being consistent and all risks should have a level of consideration but in saying that sometimes it is easy to overanalyze. Anyone can talk themselves out of something and when taking a risk you can’t let yourself be paralyzed by the details. It might never be the perfect time, with perfect circumstances, but at some point you just have to go for it. Take the risk, take the plunge.

In saying that not all risks are meant to be to be jumped at; there are two types of risks in this world – calculated and un-calculated. So what is a Calculated Risk? By definition Calculated Risk is, “A risk associated with a certain course of action which has been given full consideration prior to making the decision to pursue action. This is usually done when the potential gain is greater than any potential damage that might occur.”

For example the insurance industry is designed around calculated risk. Car insurance companies base their rates on how likely you are to file a claim in the future, and they use a number of varying factors to determine that risk such as Driving History, Demographics, Your Credit-Based Insurance Score, Occupation, Location and lastly the type of Vehicle you drive. Taking all of these factors into account and Calculating these Risks they are able to determine the quote which they provide you with.

When it comes to risks you won’t win every time even when they are calculated and avoiding risks will definitely limit your chances of success. It’s impossible to know the future and the outcome of anything unless you have supernatural powers (if only). Before you take risks, always carefully calculate everything. Outweigh the pros and cons. If the pros are extensive, it makes sense to take such a risk, especially if it means the possibility of profit or growth. If you want to take a risk then make sure that the worst outcome is bearable, minimize issues that may arise whenever possible and have a plan B. If risks aren’t for you, try them in small doses. Try a test run before taking a big leap or a hot-air balloon ride before a bungee jump. This will allow you to see the possible outcome before the impact is too monumental.

Remember that sometimes a risk may turn out to be a setback. The challenge is to move forward while actively seeking and managing your calculated risks. There are no guarantees but it pays to learn from the others who have forged paths before you like Harley-Davidson, Apple and Google to name a few, they took risks that paid off big (see further reading).

I’ll leave you with this quote: “Often the difference between a successful man and a failure is not one’s better abilities or ideas, but the courage that one has to bet on his ideas, to take a calculated risk, and to act.” Maxwell Maltz

Further Reading: 8 Risky Business Investments That Paid Off Big:

http://www.onlinebusinessdegree.org/2012/06/26/8-risky-business-investments-that-paid-off-big/

Sources:

http://www.investorwords.com/19256/calculated_risk.html

http://www.dmv.org/insurance/how-auto-insurance-companies-calculate-risk.php

http://www.forbes.com/sites/martinzwilling/2014/08/27/10-startup-calculated-risks-that-lead-to-success/

About Sasha Anderson

1 Apr 2015

The Game of Risk

by Carmen Barends | posted in: Business Risk, General | 0

It is said that you cannot escape two things in life. Death and taxes. But there is one other factor that people do not perhaps think of. Risk. It is inherent to living. To climb into a vehicle and drive anywhere has the potential of an accident taking place. To not exercise and expect your health to be tip top in the long term is a risky affair. To climb on a skateboard and head down a hill of steep gradient increases the risk of doing physical damage to yourself (although some may argue that psychological damage may have already occurred if you are partaking in such activities).

As it is in our daily living, so it is in business. Just to start a business comes with some pretty big risk. According to Bloomberg 8 out of 10 entrepreneurs fail within the first 18 months. That’s some pretty risky business. Calculated risk is defined as “a chance of failure, the probability of which is estimated before some action is taken”. From this statistic we can see that calculated risk is not necessarily a science. But with the percentage of businesses that do succeed and thrive, it is clear that the risk can be worth the reward. As Louis Pasteur said “Chance favours the prepared mind”. With that in mind, what kind of business risks can you potentially face?

According to Wikipedia, Business risk can be classified in the following groups :

Strategic risk: the risk associated with the operations in the particular industry arising from the Business Environment, Transactions and Investor relations.
Financial risk: The risk associated with the financial structure and transactions of the particular industry.
Operational risk: risk associated with the operational and administrative procedures in a particular industry.
Compliance (Legal) risk: The risk associated with the need to comply to rules and regulations of the government.
Other risks : There would be risks like natural disaster and others that depend upon the nature and scale of the industry.

So why would anyone in their right mind want to take this kind of risk? I guess for the same reason you would want to ride downhill on a skateboard. You love it and it drives you (excuse the pun). In my (limited) experience it seems that when successful people are questioned about their success there are some factors that are mentioned frequently.

Have good people close to you who will be honest and keep you grounded
Have the right tools to work with
Be patient
Be persistent

Benjamin Franklin once said “Energy and persistence conquer all things”. I think there is something in that. Like a friend mentioned “You only see an opportunity if you look up”. Yes, risk is inherent. Yes, the chance you may fail is present. But then – look up – so is the chance that you may be a wild success if you are willing to take a calculated risk.

Now wouldn’t that be a rush. So, I am off to hop on a skateboard …. What are you going to be doing?

About Carmen Barends

Social media adventurer for Leads 2 Business, exploring new frontiers and taking new ground. “Not all those who wander are lost.” JRR Tolkien

25 Mar 2015

Significant strikes in RSA history

by Sasha Anderson | posted in: General | 0

In recent years it seems there has been a growth in the amount and frequency of strikes in SA causing much debate and uncertainty. In order to understand the culture of strikes in recent years and the strikes which are sure to come in the future perhaps we could look into the History surrounding strikes in SA and the significance they still have today.

Some early strikes in South Africa’s labour movement:

12 August 1946 – African Mine Workers Strike

Demand for higher wages

Duration: 1 week

Participants: 70 000

9 deceased, 1248 wounded

1 May 1950 – Stay at home campaign

Protest against Suppression of Communism Act

Duration: 1 Day

18 deceased

9 January 1973 – Durban Strikes

Protest against low wages, mounting unemployment and poverty

Participants: 60 000 to 100 000

Duration: 3 months

9 August 1987 – National Union of Mineworkers Strike

Protest over wage and working conditions

Participants: 360 000

Duration: 3 weeks

11 deceased, 500 injured

Some recent strikes in South Africa’s labour movement:

16 September 2004 – Public Services Workers Strike

Demanded wage increase

Participants: 800 000

Duration: 1 Day

4 December 2007 – Mining Industry Strike

Unsafe working conditions

Participants: 250 000

Duration 1 Day

17 August 2010 – Public Servants & Teachers Strike

Demand for wage increase

Participants: 1.3 million

Duration: 2 weeks

10 August 2012 – Marikana Miners’ strike

Demand for higher wages

Participants: 3 000

Duration: 6 weeks

34 deceased, 78 injured

23 January 2014 – Platinum Mine Workers Strike

Demand for wage increase

Participants: 70 000

Duration: 5 months

1 July 2014 – NUMSA Strike

Demand for wage increase

Participants: 220 000

Duration: 1 month

A strike by definition is ‘a refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession or concessions from their employer’. Looking at some of the stats listed above one can see that the main reason for striking is a demand for higher wages and unsafe working conditions. But what can we learn from history?

History by definition is ‘the study of past events, particularly in human affairs.’ Does the past provide lessons for the present, guidance for the future? In addition to telling us who we are, does history help us know what to do? I suspect that not many of us still share in the confidence that through history we can make a better future.

However sceptical we may be about learning from the past, there is no doubt that we try to do it all the time. We constantly tell stories about the past to our friends, children and to ourselves that are supposed to convey moral and practical lessons. Physicians compile histories of their patients’ diseases in order to make diagnoses and determine treatments. Historical lessons are part of every political discussion and debate, our political leaders use the past to warn and inspire the public; to criticize opponents; and to justify policies. Historical analogies, comparisons and metaphors are all around us; they are a source of collective wisdom. It is unlikely that we could live without them even if we wanted to.

The idea of learning from the past so that mistakes are not repeated is one of the basic foundations for studying the past. But it should be remembered that each situation is different. The trick is to pick the correct lessons of the past and apply them to the correct situation, thus minding the wisdom of past lessons learned. So when confronting the significance of strikes in RSA history we should address their cause and work towards finding solutions in the future, not only due to the effect they have on our economy but also for a better quality of life for all.

I think this quote by Maya Angelou perfectly sums up what we can learn not only from the history of strikes in RSA but history in general, “History, despite its wrenching pain, cannot be unlived, but if faced with courage, need not be lived again.”

About Sasha Anderson

11 Mar 2015

How to Negotiate a Raise….

by Sherina Shawe | posted in: General, How To | 0

So is there a right or wrong way to ask for a raise?

Well to be perfectly honest, I’m not the most rational thinker when it comes to this very delicate situation, and have never personally gone forth and requested a raise let alone negotiated one, but I’m pretty sure my method of blurting everything out in an email to my CEO, closing my eyes while I press send and then cringing until I receive a response is not the best way to go, for one it reeks havoc on your nerves and in some cases provokes sleepless nights and comfort eating.

The one thing I am positive about is this has to be one of the most awkward and uncomfortable situations you can find yourself in at the work place, so I started by finding some useful don’ts to get you on to the fast track to negotiating a salary increase.

Timing
Now get this right!
If your company is meeting targets, profit margin is looking good, expansion is viable, then by all means go and

“Risk it for the Biscuit”!

But…..If the talk around the water cooler is retrenchment letters have just gone out and there has been a mail sent out about saving on water and toilet paper then maybe, now is not a good time.

Finances
So you’ve decided to buy a house or a new car, or you are now unexpectedly expecting twins….
while this is all very exciting news and I’m sure your boss will be happy you are experiencing any one of these fun filled events… ultimately they have no bearing on whether or not you deserve an increase!

No Guilt Trips
So while trips are fun and we all like going on them, Guilt is not a trip anyone enjoys, so trying to send your boss on one is never a good idea!
And yes I understand divorces are expensive, your spouse losing his or her job is tough and having your 10yr old cat named Whiskers in and out of the vet is heart breaking…..
Once again this is not your bosses troubles, hardship doesn’t warrant an increase, that would be saying that your colleague who’s in a stable relationship, who’s partner is a top earner and who has no pets and who is ultimately a better employee doesn’t deserve an increase as much as you.

Increases are earned and are not handouts!

I’m sure most can agree that the above mentioned circumstances are generally the reason we start scrambling for more cash, so if you can now eliminate these reasons and you actually deserve an increase then go for it.

I suggest speaking to your HR manager first, find out if the timing is right, if it is then be professional with your approach, send an email requesting a meeting to discuss a revision of your salary.

In the meeting, look presentable, speak confidently and directly, have your ducks in a row, have a list of what you are putting into your current position, this would be great if it’s over and above what you were originally being paid for, whether it’s a case of targets being reached and blown out of the water, or overtime you constantly putting in without request or complaint.

If you feel you are truly not paid for your full worth, then sell it!

However, If your company is one that is good at recognizing your achievements and who compensates reasonably in the form of an increase on a yearly basis, then my personal advice would be to sit tight and have faith that once again you will receive the increase you so deserve!

But whatever you decide to do, I wish you all the luck ….. And let’s hope hard work is the winner in the end and you get what you are worth 🙂

About Sherina Shawe

4 Mar 2015

Barriers to Business

by Claire Donaldson | posted in: Business Risk, General, Life Lessons | 2

I barely notice loadshedding now. It’s generally two hours over the weekend. We’ve adapted. Food is prepared before, just in case. Every electronic device is fully charged in anticipation. We have books. Never underestimate the rejuvenating powers of a two hour nap. We have a Yorkie. We have outside. I have my camera. I barely notice any more. Consistency allows for adaptation and planning. For the inconsistent times; well, we carry on regardless. People complain about the loss to business and the inconvenience to individuals. True. On both counts. But neither is universal. If I see a business with its doors closed due to loadshedding, I also see businesses with their doors open. Usually, to the gentle hum of a generator. If you are in the generator business, good for you. I doubt you’re complaining about loadshedding, too much. People have taken on hybrid appliances, and gas and solar power. Businesses that supply those products; they can’t be complaining about loadshedding either. Anyone who preaches the evils of reliance on coal, and the saving graces of green technology. No complaining from them. Their point is made. You read articles of entire families having taken themselves off the grid. Individuals who haven’t taken on gas or solar power, tend to frequent those businesses that have. There’s still money being spent and money being made. So where’s the barrier?

I remember my first day at Daily Tenders. The power went out. The boss simply loaded us into his car, and drove to his house. Us newbies were trained up in the lounge, while Leighann, perched at the kitchen counter, typed out tenders on a monolithic laptop and whatever passed for the internet 10 years ago. Yes, the power being out was an inconvenience but us allowing that inconvenience to interrupt our responsibilities to our subscribers was our choice. Not a bad lesson learnt on my first day.

Barriers to business tend to come in two forms: External and internal. We have little or no control over the external barriers. The unforeseen problems. The disasters. The failures. The disappointments. The deaths. These manifest out of nowhere. Or they could’ve been brewing for awhile (Eskom, I’m looking at you). They are the things that happen, that make situations just a little bit harder. But we have all the control over the internal barriers: Our attitudes and perceptions of the problem. When the power goes out, do you close up shop or find a way to keep hussling? Problems are not to be adopted and taken home and raised like one of your own. So you can haul it out and have everyone coo “Ooo look how big it’s gotten!”. You solve it or you let it go. Barriers, impediments and disappointments are not unique. We all have them. Businesses all have them. Generally, they’re all the same. But like that damn DRESS (you know the one) our individual perception affects how we handle the situation. (That was a fascinating social experiment, if ever I saw one). Everyone looked at the same single dress, and said something different. And reacted differently.

A river sees a blockage, as interrupting its flow. But that’s how a dam is made. There are opportunities at every turn, if you choose to see them. Momentary inconveniences can lead to long term benefits. The barriers are not suddenly going to stop or go away. But they will be insurmountable, if we choose to see them as such.

About Claire Donaldson

I started working at Leads 2 Business in February 2005, and have served as Head of Department of Daily Tenders from 2007 until the present. I oversee both the Daily Tenders South Africa and Africa Departments.

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