24 Hour Survival Guide for Small Business

24 Hour Survival Guide By Gavin Tonks updated 2023.

24 Hour Survival Guide for Small Business

Revised Version 3

2023

Written by Mentor Gavin Tonks

24 Hour Survival Guide for Small Business

Gavin Tonks

Published by Gavin Tonks at Smashwords Copyright 2009 Gavin Tonks

ISBN Number: 978-0-620-54661-4

Barcode: 6009691421396

Date: 03/03/2009 revised 25/09/2012 Words approx. 30605 Author: Gavin Tonks

https://www.facebook.com/groups/mentoringsurvivalguide/ Graphic Design: The Design Trap, http://www.designtrap.co.za

This e-book is licensed for your personal enjoyment only. This e-book may not be re- sold. If you would like to share this e-book with another person, please purchase an additional copy for each person you share it with.

Thank you for respecting the hard work of the author.

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Contents

Dedication

Preface

Introduction

Chapter 1

Genesis: And in the Beginning was the Idea

Chapter 2

Your Business Case: Developing Your Business Plan from the Business Case

Chapter 3

The Strategy Plan: Reaching Your True Business Potential

Chapter 4

Ask for Business: Show No Fear or Shyness

Chapter 5

Attitude: Adjust Your Attitude – First Aid for Your Business

Chapter 6

Opportunity: Cast Your Net Around

Chapter 7

tmp_c8bde530e0ab557de1a79368c28b25cc_mKBQl__html_7a1998f3.gif Use Your Network: Building Your Business relationships

Chapter 8

Do Your Homework: Take a Look at the Playing Field

Chapter 9

Weigh Your Options: Taking Long Hard Looks

Chapter 10

Minimize Risk: Do Not Take Unnecessary Risks

Chapter 11

Simple Solutions: Do Not Buy Marble If all you can afford is Mud

Chapter 12

Cutting Costs: Cash is King

Chapter 13

Sharing the Burden: Delegating Tasks

Chapter 14

Consider Employees’ Input: Creating a Platform

Chapter 15

Creditors: Negotiating with Creditors

Chapter 16

Debtors: Negotiating with Debtors

Chapter 17

Business Acne: The Preventable Business Infection

Chapter 18

Business Depression: Trade Your Way Out

Chapter 19

Stress: Coping and Staying Focused in Business

Chapter 20

Business Self-esteem: Be Confident and Positive

Chapter 21

Healthy Business: Toning up and slimming down

Chapter 22

Perseverance: Believe in Your Business

Chapter 23

Never give up: Getting up One More Time

Chapter 24

Survival: Image is not Important, Survival is

Chapter 25

Surviving Today: How to make it into The New Month

Conclusion

About the Author

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Dedication

I dedicate this book to those who have chosen the high road and are taking control of their Entrepreneurial destiny.

To the over two thousand entrepreneurs I workshopped that made this book happen.

To Tharine, the graphic designer who strives each day towards successful business, may you inspire many to do just that!

To all the Small Business owners who have been inspired by my mentorship and writing and for letting me know as well.

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Preface

Welcome to The 24-Hour Survival Guide for Small Business Entrepreneurs. This book is a practical resource designed to help you navigate the challenges of running a small business. In the ever-changing landscape of entrepreneurship, it is essential to equip yourself with the right mindset, strategies, and skills to thrive. Each chapter of this guide will delve into a specific aspect of entrepreneurial success, providing valuable insights and practical advice. By implementing these strategies, you can enhance your chances of success and overcome the obstacles that come your way. Get ready to embark on an empowering journey towards small business excellence.

Top of Form

The Entrepreneurial Road is truly a hard road where you need to develop skills and attitudes coupled with experience, to tread where angels fear to go.

Unlike those who are blessed with opportunity and an easy road, I have not only seen the weeds at the edge of the road but I have had detours, which took me into oncoming traffic lanes.

Life is a lesson, so learn it. Take what life offers and enjoy every moment that nature gives. Start every day by getting up and being what you want to be - take no prisoners. Begin each day with a mantra of "how much successful business, am I going to do today?

Let us become a great Entrepreneurial Nation with creativity and determination, embracing integrity and humility as Nelson Mandela had done.

If electricity, interest rates, rising costs, the petrol price and all the other negatives are driving you to despair in your business, then you need to follow this quick survival guide.

Good advice is timeless and many entrepreneurs fail because they are not equipped to succeed, it is a sad fact.

Conditions in Business are tough – only the toughest survive!

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Introduction

Welcome to The 24-Hour Survival Guide for Small Business Entrepreneurs. Over the past forty years, I have drawn strength from certain attributes and statements that not only helped me in my own darkest hours but also served as reliable tools in assisting the numerous small businesses I have mentored. It is with great pleasure that I share these insights and experiences with you in this guide.

The information presented here is relevant to all small businesses. As you navigate the unpredictable terrain of entrepreneurship, you will encounter business cycles of varying toughness. It is during these challenging times that the steps outlined in this guide will serve as a lifeline, offering valuable guidance to help you survive and thrive.

In addition to the advice provided, I encourage you to explore the vast array of web resources available today. As you journey towards becoming a peak-performing business entrepreneur, conducting research on various topics will contribute to your knowledge and growth.

I invite you to delve into this guide, discovering the strategies and insights that can empower you on your entrepreneurial path. May it not only provide you with enjoyment but also serve as a springboard, propelling you towards the success you envision for your business.

These attributes and statements have not only given me strength in dark hours, but have proved to be reliable tools in assisting many small businesses I have mentored over the past twenty-five years.

The information contained here is relevant to all small business. You will find some business cycles are tougher than others are and during these cycles the following steps will help you survive those tough times.

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1 - Genesis:

And in the beginning was the idea…

Not every idea has the potential to develop into profitable business.

We all too often confuse the words, idea and business. An idea is a thought process, a dream or a concept that is perceived in the conscious part of the brain as having some commercial worth.

Ideas on their own in the business world typically have no value and even Richard Branson has publicly thanked all the people who have sent him good ideas.

Ideas are ten a penny and not every idea is reinventing the wheel. McDonalds and Burger King did not invent a hamburger; they just found ways to make them faster and to sell more of them quicker than anyone before.

Many people have ideas, some brilliant and others just plain stupid, like the guy who had a micro trading store and thought that his business would in two years be big enough to give a large retailer [doing millions of dollars of turnover] a serious run for their money, after a $50 000.00 financial injection [when one store costs more than a million dollars to set up].

So, what’s your idea? Is it a new cell phone, an application or a website? Every person dreams of the perfect business that will assail them with wealth, yachts and Lear jets. Sadly, many will not see those dreams come true as we deal with two distinct personalities:

The Salesperson: Armed with the gift of persuasion, the salesperson can sell anything. They excel at pitching ideas and captivating others, but sometimes their focus on sales overshadows the necessary considerations for a successful business. They may overlook aspects like after-sales service, delivery logistics, and other critical components. A prime example is the online sales model, which may lack adequate customer support when problems arise.

When customers encounter issues requiring assistance, they may find themselves without accessible support channels. Although salespeople play a crucial role in business, they often need a comprehensive team to address the complexities of the overall operation.

Salespeople are a cog in a complex business environment and few salespeople make it on their own in business, despite the fact that having a sales personality is critical to being a well-rounded business person.

The Entrepreneur: Driven by a vision and fueled by passion, the entrepreneur embodies the spirit of turning ideas into reality. They create a plan to achieve their goals, determined to bring their product to market, make sales, and ensure financial success. With unwavering dedication, the true entrepreneur sees every setback as an opportunity for growth. They know that persistence and a strong desire for success are key. By carefully planning achievable steps aligned with their overall vision, they can overcome obstacles and turn challenges into advantages.

In this guide, we will explore the transformative journey from idea to business. By embracing your entrepreneurial spirit and developing a strategic approach, you can navigate the path towards building a thriving enterprise. Together, we will delve into the essential steps required to bring your idea to life and overcome the hurdles along the way. Get ready to embark on a fulfilling and rewarding entrepreneurial adventure that will set the foundation for your future success.

The true entrepreneur knows he can achieve his goal with well planned, achievable steps within the concept of his overall vision. He will eventually stand in the waves and turn them to his advantage.

Many entrepreneurs are driven by their unwavering belief in their ideas, have taken substantial risks to bring them to fruition. They have bet everything they have, including their homes, and shown the determination of Job to turn their vision into a successful reality.

On the other hand, there are those who hope that their idea alone will attract the attention of a wealthy philanthropist. They anticipate someone saying, I have been waiting my entire life for this idea. Here is a generous sum of money. I will invest more and ensure its tremendous profitability. And out of the goodness of my heart, I will let you earn more because you originated this idea, despite my contributing nothing to its success. But if you were in their shoes, would you make such an agreement? So why would you expect someone else to do so?

The reality is that success in business is rarely handed to us on a silver platter. While there may be rare cases where external investors recognize the potential of an idea and provide significant financial support, these instances are the exception rather than the norm. The responsibility for bringing an idea to life and transforming it into a profitable business rest primarily on the shoulders of the entrepreneur.

It's essential to understand that building a successful business requires hard work, perseverance, and a willingness to take risks. Entrepreneurs must be willing to invest their time, energy, and resources to prove the viability of their idea and generate meaningful returns. It is through their dedication and strategic efforts that they create opportunities for success.

A business must always make profit to sustain both you and the company since the business is created as the vehicle to drive the business that is derived from the idea.

A business is an entity that drives commercial transactions and it exists to generate income. The business has a market, a plan and a method to ensure that people who like the business will support it with their financial transactions. These transactions generate turnover, if we are lucky profit and if you are seriously fortunate, wealth and some form of valuable asset.

If you wish to sell, trade or generate income from your idea, it will require planning, a business case to show viability and a presentation. The presentation highlights information from the business case and how you think it will perform as a business.

There are fundamental questions that must be asked with any idea:

As an entrepreneur, it's essential to ask critical questions and evaluate the viability of your idea. Let's delve into these important considerations:

How many people will buy into the idea? Understanding your target market and assessing the demand for your product or service is crucial.