Build a Business That Can Survive Tough Times 💪

Building resilience is easier said than done, however, there are strategies you can implement to build a stronger business. 

1. Collaborate - band together and work with other small businesses. 

2. Diversify - offer new products and services according to market needs. 

3. Execute - make decisions and see them through. 

4. Prepare - hope for the best but prepare for the worst. 

Let’s get stuff done! 

New on the Site this Week!

• A Guide On Small Business Tax

• Township Business Funding Opportunities – TREP 

How to Collab With Other Entrepreneurs to Get Sales

It takes a community to build a business, writes Gwen Serrotti, an entrepreneur and founder of the initiative Xtraordinary Women. See her top advice for working with other entrepreneurs. 

• Experience their service offering or products.

• Offer to write a testimonial for them for their website, Facebook Page and LinkedIn.

• Lastly, refer business to them. Advise the person that you are referring to tell the business that you have recommended them so that they can see that networking works and that you are supporting them.

Read the full article: Collaboration as a Marketing StrategySee also: Power up your Collaboration skills: 10 Commandments For Creating Powerful Collaborations

Running a Business in South Africa Can Be Tough, Equip Yourself with the Right Info

Do you understand how small businesses benefit from ESD in South Africa, or how business loans work? Access our long-form guides on the following entrepreneurship topics, and more!  

• Funding for Women-owned Businesses in South Africa

• Everything You Need To Know About Enterprise and Supplier Development In South Africa

• Requirements for Business Loans in South Africa in 2022

• Everything You Need to Know About Crowdfunding in South Africa

• A Guide to Government Funding in South Africa

How to Diversify Your Offering

Need ideas to help you expand your business offering? Ask yourself these questions: 

• Can you change or update HOW you provide the same service?

• Is it possible to change your service or product in a small way without doing something completely different?

• Is there a new market you can reach, without alienating your existing customers?

• Are you able to link up with other businesses to provide a more comprehensive service?

See also: Get inspired by business owners whose quick, innovative thinking saved their businesses

10 Impressive Covid-19 Business Model Pivots A CEO’s Guide To Surviving Covid-19’s Economic Hit COVID-19: “It Was A Case Of Adapt Or Die” – How The Bottles App Pivoted From Alcohol To Grocery

Need Working Capital Finance? For a Free Quote for Business Funding, visit SME South Africa.