COVID-19 - Lock down

[Dave A]

So South Africa has a 21 day lock down commencing midnight Thursday 26th March 2020 and ending midnight Thursday 16th April.

Things just got real.

[Dave A]

Please post links in this thread to information to the financial support programs being put in place.

e.g. Apparently there is going to be support via the UIF program.
There will be relief in PAYE payments.
Emergency personnel and various categories of business activities will be designated as "essential" and will keep operating.

It sounds like specifics will be coming out "shortly".

[EAB]

They are looking at temporary relief from SDL and UIF.

The relief on PAYE is that you can short pay with up to 20% of your PAYE for the next 4 months. Nowhere does it state that you get a discount of the 20% PAYE. Thus you will have to pay the 20% x 4 months after the 4 month period is done. So you will then almost pay double PAYE in one month after everything is back to "normal".

If your cashflow can handle it, I'd rather pay the full PAYE than extending it and then sitting with a big amount 4 months down the line

[Theodore]

Indeed. But physical lockdown does not, and should not, mean mental lockdown. Here are 3 tips for business owners to stay mentally strong under the circumstances:

1. Daily meditation
2. Practise gratitude
3. Visualise your goals

Now is the time to slow down, take a step back and reflect, re-prioritise and re-strategise. In short, start planning for when things return to some semblance of normality, at least in a business sense. This will help you to either maintain or build momentum during this time and hit the ground running when you can get back to business.

[Theodore]

HOW CAN YOU IMPROVE SALES DURING AND POST-COVID 19?

Right now businesses are struggling. Sales have either dropped or are dropping. Various companies/employers have had to make tough decisions about laying off employees. It is a tough time for everyone concerned.

However, from a strategic perspective, now is the best time to reflect on and re-strategise your sales process. This is a useful plan for two reasons:

1) It will enable you to adapt to the current circumstances
2) It will help you to build momentum and be ready once the worst of the pandemic is over.

With this in mind, here are some steps that you can use to improve your sales both now and after the crisis:

1. Identify where you need sales to improve. Is it only one product or service, or all of them?

2. Re-assess your target market. Are you marketing your service/product to the right market? Do some Target Market Research.

3. Assess your customer service and sales processes. Identify any issues that may need to be rectified.

4. Consider hiring a sales/business coach.

5. Determine if you have any sales weaknesses and learn how to fix them.

If you need help with any of these strategies, please feel free to reply to this post. I'm offering a FREE coaching/strategy call for business owners, managers and entrepreneurs to provide coaching support.

[adrianh]

Please stay on topic.

[Blurock]

Indeed. But physical lockdown does not, and should not, mean mental lockdown. Here are 3 tips for business owners to stay mentally strong under the circumstances:

1. Daily meditation
2. Practise gratitude
3. Visualise your goals

Now is the time to slow down, take a step back and reflect, re-prioritise and re-strategise. In short, start planning for when things return to some semblance of normality, at least in a business sense. This will help you to either maintain or build momentum during this time and hit the ground running when you can get back to business.

So are you a business coach? You have not completed your profile.

[Blurock]

They are looking at temporary relief from SDL and UIF.

The relief on PAYE is that you can short pay with up to 20% of your PAYE for the next 4 months. Nowhere does it state that you get a discount of the 20% PAYE. Thus you will have to pay the 20% x 4 months after the 4 month period is done. So you will then almost pay double PAYE in one month after everything is back to "normal".

If your cashflow can handle it, I'd rather pay the full PAYE than extending it and then sitting with a big amount 4 months down the line

This is a way to assist with cash flow, which is the second most important thing in a business, after customers. Cash flow may assist you in buying product/materials to supply your customers.I anticipate some shortages due to factories being closed and imports being restricted. You can only make the sale if you can deliver the goods.

[Theodore]

So are you a business coach? You have not completed your profile.

Yes Blurock. I'm a Business Growth and Leadership coach. Haven't had the time to complete my profile but I'll get on it. Thanks for letting me know. Hope you're taking it easy.

[adrianh]

Yes Blurock. I'm a Business Growth and Leadership coach. Haven't had the time to complete my profile but I'll get on it. Thanks for letting me know. Hope you're taking it easy.

How many successful businesses do you have? What is your net worth?

[Theodore]

I've had my coaching business for 2 years. I've helped more than 10 clients grow their businesses. I don't need to have loads of mega successful businesses to help clients grow theirs. I have certain coaching skills and expertise that people find valuable. People frankly don't hire me based on how many businesses I have. They hire me for results.

[ians]

I've had my coaching business for 2 years. I've helped more than 10 clients grow their businesses. I don't need to have loads of mega successful businesses to help clients grow theirs. I have certain coaching skills and expertise that people find valuable. People frankly don't hire me based on how many businesses I have. They hire me for results.

I hope you have more skills than the majority ...considering the fail rate of business in SA is 50 - 80 % in the first 5 years and less than 2 % survive longer than 10 years... it tells me that business advice being shared is only 2 % correct.

After being told i wouldnt survive the first 5 years because i am not part of the flock being guided into the system... which takes everything from you when you fail ...only you loose... the smart people are the ones who fool everyone else into thinking their ideas are the best way to achieve wealth ...but never loose anything ...banks ...insurnace to mention a few.

[ians]

I've had my coaching business for 2 years. I've helped more than 10 clients grow their businesses. I don't need to have loads of mega successful businesses to help clients grow theirs. I have certain coaching skills and expertise that people find valuable. People frankly don't hire me based on how many businesses I have. They hire me for results.

2 years of coaching ...you still wet behind the ears your first clients hasnt even past the 5 year mark yet ...i look forward to seeing you bragging about all the successful businesses you assisted...in 10 years time.

[adrianh]

I've had my coaching business for 2 years. I've helped more than 10 clients grow their businesses. I don't need to have loads of mega successful businesses to help clients grow theirs. I have certain coaching skills and expertise that people find valuable. People frankly don't hire me based on how many businesses I have. They hire me for results.

I can see value in what you do even though you don't have your own business. Entrepreneurs (yes I speak for myself) lack basic skills. We are generally people who like to get things done but we lack admin / financial / strategic and tactical skills. In a sense your function can be likened to an engineer plotting the course for a space ship to Mars yet you don't have to pilot the ship yourself to know what is required.

I am of the opinion that 99% of business that fail do so due to a lack of all round basic business skills. Unless the basic "business engine" is structured and run correctly it will fail no matter how good the product.

We all need mentors to keep us on the right path - I sometimes forget to invoice timously, to pay bills, to order stock etc because I get bogged down in the details of delivery. My dream is to have a PA - like extended memory - to make sure that important things get done.

OK, so, even though I was a bit harsh with you to start with I will honestly say that I see the value in what you do. The bottom line is that we should all be open to assistance at a fair price if we feel that it might add value (and if it doesn't work out then we learn from that too)

My business / admin / financial planning suck big time!

[Blurock]

Adrian has summed it up very well. Most small entrepreneurs are extremely good at what they do, but lack the necessary admin and management skills. They see an opportunity and they have the balls to go for it. Unfortunately, business, like farming, is much more complicated and that is where the value of a good mentor, business coach or accountant that has the ability to see the bigger picture, comes in.
The biggest problem of self employed people is that they often get so busy chasing after business, that they isolate themselves. They miss out on important new developments or legislation and even opportunities. I have found value in joining our Chamber of Commerce and also a small group (forum) of entrepreneurs and business people from diverse backgrounds to discuss and share issues. That has also taught me the value of networking. Funny that people who are always saying how busy they are, are the one's who get the least work done?