Issue Date: 
Monday, February 1, 2016

5 Rules When Starting Your Own Business

There are many people who dream of starting their own business. There are many people who actually go out and start their own business and then they fail dismally. There are horrific statistics of 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 four 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 not a straight forward answer why so many businesses fail. Many people have studied this phenomenon and there are many reasons why businesses fail but we are not going to focus on that; we need to focus on what to do to make your business sustainable. You want to ensure your business survive the first two years in order for you to build up a reputation as reliable and sustainable 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 that you need to adhere to when starting your own business:
1.    Location, location, location. If you are going to sell goods then you need to be located at 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 put up shop so that as many as possible customers see your goods that you have on offer.
2.    Ensure you have sufficient funding. There aren't many businesses that you can start without money. Even the smallest of small business will need some kind of cash injection to get the ball rolling. There are many 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 you start 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 otherwise 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 advertising 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 grow into large businesses. The rule is to start out small and affordable           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.

We at How2Tender.com will be hosting workshops on "How to start and run your own business" within the next month or two. Please email us at werner@how2tender.com should you be interested in attending one of these workshops.
 
Learn to earn

Title Closing Date Tender No.
VMWare Software 2019-04-05 12:30 10401236
Checkpoint 2019-04-05 11:00 10401237
Hire of suitable furnished residential accommodation:15x1 bedroomed flat/apartments plus 15 secure on site-parking bays at Eshowe Hospital, Eshowe: Department of Health 2019-04-15 11:00 ZNT 7860 W
Saldanha: Military Base: Construction of new sick bay facility 2019-04-17 11:00 CPT1019/ 18
Presidential Inauguration: Provision of Stage, Sound, Big Screen and Related Infrastructure at Loftus Versfeld Stadium Functionality Criteria 2019-04-09 11:00 HP18/ 016GS
Pretoria: Procurement of Office Accommodation of 563.64 square meters and 19 parking bays usage by the Department of Science and Technology (National Advisory Council on Innovation) for a period of 3 years preferably in Lynwood, Sciencia Park 2019-04-09 11:00 Pt18/ 083
Remedy 2019-04-05 11:30 10401239
Pretoria: Procurement of Office Accommodation of 563.64 square meters and 19 parking bays usage by the Department of Science and Technology (National Intellectual Property Management Office) for a period of 3 years preferably in Lynwood, Sciencia Park 2019-04-09 11:00 Pt18/ 084
Bid for the Appointment of a Service Provider for the Provision of Cleaning and Hygiene Services to the Deaprtment of Labour Head Office for a period of two years 2019-04-12 11:00 BID LAB 01/ 2019
Provision of Cleaning Services at Mthatha Medical Depot 2019-04-12 11:00 SCMU3- 19/ 20- 0018- HO
Appointment of a Service Provider to Quantify Asbestos Fibres in Different Environmental Samples for a period of three (3) years 2019-04-16 11:00 CGS- 2018- 057A
Procurement of a Grade B Building for Ceta Academy 2019-04-08 11:00 010- 2018/ 2019
Preferred Service Providers for Technical Services (Roads & Civil Works) For Coega Development Corporation (Pty) Ltd 2019-04-08 12:00 CDC/ 68/ 19
Registration on New loveLife Trust Supplier Database 2019-04-12 12:00 No reference number
Preferred Service Providers for Technical Services (Aluminum Doors) For Coega Development Corporation (Pty) Ltd 2019-04-08 12:00 CDC/ 114/ 19
Preferred Service Providers for Technical Services (Signage - Road Side Signage) For Coega Development Corporation (Pty) Ltd 2019-04-08 12:00 CDC/ 116/ 19
Preferred Service Providers For Technical Services (Canteen Equipment Maintenance) For Coega Development Corporation (Pty) Ltd 2019-04-08 12:00 CDC/ 117/ 19
Preferred Service Providers For Technical Services (Fire Equipment) For Coega Development Corporation (Pty) Ltd 2019-04-08 12:00 CDC/ 120/ 19
Preferred Service Providers For Technical Services (Roof Specialist) For Coega Development Corporation (Pty) Ltd 2019-04-08 12:00 CDC/ 121/ 19
Preferred Service Providers for Technical Services (Fencing) for Coega Development Corporation (Pty) Ltd 2019-04-08 12:00 CDC/ 123/ 19

Pages

Must my business be registered in order to tender?

By Werner van Rooyen

www.howtotender.co.za

31 January 2019

Once, a very anxious business owner phoned me and asked if I can supply him with a CK number. I was amused by this and first asked why he asked me for such a number and secondly for what did he need a CK number for? He said that because of my Tender Manual that he bought, he thought that maybe I can help him with a CK number. Also, at the briefing session of the tender that he was responding to, the person in... Read More

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