Issue Date: 
Monday, February 1, 2016

5 rules when starting your own business

So many people dream of starting their own business. Many actually go out do it and then fail dismally. Frightening statistics reveal how many start-up businesses fail within the first two years. Some say as many as 80% of all start-ups fail within the first two years and of the remaining 20% another 80% fail in the following three years. The few businesses that survive the first five years will most probably be successful and exists for some time.

The question is why do so many businesses fail? There is no straight forward answer to that. People have studied this result and discovered many reasons but in this article we are going to focus on what to do to make your business sustainable. The aim is to ensure your business survives the first two years in order for you to build up a reputation as reliable and sustainable and thus enabling you to respond to that large tender that will provide you with financial independence.

There are many factors that one needs to consider when starting your own business and here are five rules you should adhere:

  1. Location, location, location. If you are going to sell goods then you need to be located in the best location. You can have the best product or service on offer but if people do not know of your existence you are going to fail. Find the best place to set up shop so that as many customers as possible see wha you have on offer.
  2. Ensure you have sufficient funding. Not many businesses can start without money. Even the smallest will need some kind of cash injection to get the ball rolling. There are several ways to get funds to start a business but the trick is to have access to funds to sustain the business when times are tough. Always save money for tough times.
  3. Be committed. The main reason for starting your own business is because you want to be independent. The problem is that once you have the freedom you lack the commitment. When you work for yourself you need to be 110% committed or else you are going to fail. The rule is to apply the same work ethics and commitment that you would have applied should you have been working for a boss.
  4. Advertise. There is an old tale about the business owner who did not believe in advertising, eventually his business failed and the first advertisement he had to place was the liquidation of the business. Advertise as much as possible.
  5. Be willing to grow. There are not many businesses that started out as multi-million dollar operations. Ninety nine percent of the time it is small businesses that grew. The rule is to start out small and sustainable and then grow your business over time.

If you follow these 5 simple rules you will give yourself the edge needed in succeeding in your own business.

For workshops on "How to start and run your own business" contact

www.how2tender.com

Title Closing Date Tender No.
Atraumatic Graspers - 5mm - Length 36cm - Reusable 2017-08-01 11:00 ZNQ 524/ 17 - 18 GAZ
Curved Cutter / Stapler - Size: 3.0mm Length X 3.5mm Height 2017-08-01 11:00 ZNQ 523/ 17 - 18 GAZ
Modified Bipolar Vessel Sealing Device, Single Use -Small Jaw. as per Specification 2017-08-01 11:00 ZNQ 522/ 17 - 18 GAZ
Tubing, Latex (205) as per specification 2017-08-01 11:00 ZNQ 398/ 17 - 18 GAZ
Ligasure Impact Tissue Fusion - Open Instrument - Size: 13.5mm. as per specification 2017-08-01 11:00 ZNQ 355/ 17 - 18 GAZ
Catheter - Argyle - 40cm - Size 22g, as per specification 2017-08-01 11:00 ZNQ 299/ 17 - 18 GAZ
Patient Plate With Cable - Single Use. as per specification 2017-08-01 11:00 ZNQ 208/ 17 - 18 GAZ
Auto Suture Gia Premium 50mm X 3.8mm Loading Unit as per specification 2017-08-01 11:00 ZNQ 95/ 17 - 18 GAZ
Auto Suture Gia Premium 90mm X 3.8mm Loading Unit. as per specification 2017-08-01 11:00 ZNQ 94/ 17 - 18 GAZ
Sabs Approved Female Safety Shoes 2017-08-02 11:00 ZNQ: 257/ 2017/ 18
Appointment of a service provide to supply,deliver and install steel shelves to storeroom /archives/registry to the new and existing office blocks at 191-prince Alfred street building in Pietermaritzburg head office 2017-08-21 11:00 ZNT NO: 10/ 16/ 17
Postmasburg Dept of Labour: Alternative office accommodation: 475.00m² and 8 parking bays for a period of 5 years 2017-08-11 11:00 LS04/ 17
Calvinia Dept of Labour: Alternative office accommodation: 475.00m² and 9 parking bays for a period of 5 years 2017-08-11 11:00 LS05/ 17
Kimberley Dept of Water and Sanitation: Alternative office accommodation: 2930.68m² and 54 parking bays – for a period of 3 years 2017-08-11 11:00 LS03/ 17
Supply and Deliver Crepe bandage 100mm x 4.5m 2017-08-01 11:00 ZNQ: 200- 17/ 18
Supply and Deliver Bandage crepe 75mm x 4.5m 2017-08-01 11:00 ZNQ199- 17/ 18
Supply and Deliver single seat stainless steel chairs 2017-08-01 11:00 ZNQ: 189- 17/ 18
Supply and Install Diagnostic set wall mounted 2017-08-01 11:00 ZNQ: 193- 17/ 18
Supply and Deliver Abdominal Swabs Sterile X-ray detectable with loop. size 450mm x 370mm x 4 PLY 2017-08-01 11:00 ZNQ: 163- 17/ 18
Supply and Deliver: Portable Dental light with a carry bag 2017-08-01 11:00 ZNQ: 192- 17/ 18

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Functionality and Tenders

In all competitive bids (tenders) you as the bidder will have to respond to Functionality. You will need to score a set minimum number of points, measured as a percentage, on Functionality of a competitive bid (tender) in order to advance to the next phase of evaluation in the tender process.

Usually Organs of State evaluate competitive bids (tenders) as follows:

  • The tender response is evaluated on Functionality where the bidder must score points out of a maximum of 100 points.
  • A threshold of between 65 to 75 out of 100 points... Read More
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