Infographic: Estée Lauder on hard work

Estée Lauder

Cosmetics entrepreneur Estée Lauder was not only sussed about business, she was also a woman who was years ahead of her time -- a real visionary who we can learn a lot from. Check out her story here and happy weekend!

Robin Sharma: 21 tips to become the most productive person you know

Robin Sharma

I'm a Robin Sharma junkie, having worked with him for a few issues during my time at a South African men's magazine. So anything he has to say, he has a rapt audience in me -- Robin tends to give very practical advice that anyone can implement in their lives. This morning's Robin Sharma newsletter was particularly amazing, so I've reproduced it here: it's too good not to share with everyone!

Here are Robin Sharma's 21 tips to get you to your best productivity:

1. Check email in the afternoon so you protect the peak energy hours of your mornings for your best work.

2. Stop waiting for perfect conditions to launch a great project. Immediate action fuels a positive feedback loop that drives even more action.

3. Remember that big, brave goals release energy. So set them clearly and then revisit them every morning for 5 minutes.

4. Mess creates stress (I learned this from tennis icon Andre Agassi who said he wouldn't let anyone touch his tennis bag because if it got disorganized, he'd get distracted). So clean out the clutter in your office to get more done.

5. Sell your TV. You're just watching other people get successful versus doing the things that will get you to your dreams.

6. Say goodbye to the energy vampires in your life (the negative souls who steal your enthusiasm). 

7. Run routines. When I studied the creative lives of massively productive people like Stephen King, John Grisham and Thomas Edison, I discovered they follow strict daily routines. (i.e., when they would get up, when they would start work, when they would exercise and when they would relax). Peak productivity's not about luck. It's about devotion.

8. Get up at 5 am. Win the battle of the bed. Put mind over mattress. This habit alone will strengthen your willpower so it serves you more dutifully in the key areas of your life.

9. Don't do so many meetings. (I've trained the employees of our FORTUNE 500 clients on exactly how to do this - including having the few meetings they now do standing up - and it's created breakthrough results for them).

10. Don't say yes to every request. Most of us have a deep need to be liked. That translates into us saying yes to everything - which is the end of your elite productivity.

11. Outsource everything you can't be BIW (Best in the World) at. Focus only on activities within what I call "Your Picasso Zone".

12. Stop multi-tasking. New research confirms that all the distractions invading our lives are rewiring the way our brains work (and drop our IQ by 5 points!). Be one of the rare-air few who develops the mental and physical discipline to have a mono-maniacal focus on one thing for many hours. (It's all about practice).

13. Get fit like Madonna. Getting to your absolute best physical condition will create explosive energy, renew your focus and multiply your creativity.

14. Workout 2x a day. Exercise is one of the greatest productivity tools in the world. So do 20 minutes first thing in the morning and then another workout around 6 or 7pm to set you up for wow in the evening.

15. Drink more water. When you're dehydrated, you'll have far less energy. And get less done. 

16. Work in 90 minute blocks with 10 minute intervals to recover and refuel (another game-changing move I personally use to do my best work).

17. Write a Stop Doing List. Every productive person obsessively sets To Do Lists. But those who play at world-class also record what they commit to stop doing. Steve Jobs said that what made Apple Apple was not so much what they chose to build but all the projects they chose to ignore.

18. Use your commute time. If you're commuting 30 minutes each way every day -- get this: at the end of a year, you've spent 6 weeks of 8 hour days in your car. I encourage you to use that time to listen to fantastic books on audio + excellent podcasts and valuable learning programs. Remember, the fastest way to double your income is to triple your rate of learning.

19. Be a contrarian. Why buy your groceries at the time the store is busiest? Why go to movies on the most popular nights? Why hit the gym when the gym's completely full? Do things at off-peak hours and you'll save so many of them.

20. Get things right the first time. Most people are wildly distracted these days. And so they make mistakes. To unleash your productivity, become one of the special performers who have the mindset of doing what it takes to get it flawless first. This saves you days of having to fix problems.

21. Get lost. Don't be so available to everyone. I often spend hours at a time in the cafeteria of a university close to our headquarters. I turn off my devices and think, create, plan and write. Zero interruptions. Pure focus. Massive results.

For more awesome Robin Sharma wisdom, visit: www.robinsharma.com

Emma Dunk: Networking is key to growth

Emma Dunk, EM-Between Communications

Emma Dunk from KwaZulu-Natal started EM-Between Communications, a public relations consultancy in June 2003 after deciding that a life back in the corporate world wasn’t as fulfilling as being a new mum. So she seized the opportunity and hasn’t looked back!

What were you doing before starting your business?

I worked in a corporate PR firm and then moved across to the advertising agency world. I worked at two different agencies as an account executive. The pressure and fast pace took a serious strain on my health and, as a result, I took longer to fall pregnant than I’d expected. Almost two years later my husband and I were blessed with a healthy baby boy (Ethan) and my whole world changed. I knew then that I didn’t want to go back to the corporate world and thought “If not now, when will I ever start my own business?” My passion always remained in PR, so the decision to move solely into this field was easy.

What kind of planning went into starting the venture?

There wasn’t too much “heavy” planning involved to be completely honest. I brainstormed a business name and settled on EM-Between Communications (for obvious reasons J), had my company name registered and then got a friend who was a graphic designer to design my logo.

What was your start up capital and where did you work from?

I converted my study at home into a small office, bought a computer, printer, fax machine, new office furniture, office stationery etc. Paid my graphic designer friend a whopping R250 for my logo and had a basic website developed. Total set up costs where just over R10 000, which I borrowed from my folks and repaid them within my first year in business.

What was your big dream for this venture?

One of my USP’s (Unique Selling Propositions) was the fact that I was a small consultancy and was therefore able to provide my clients with personal attention – they wouldn’t be palmed off to a junior account executive (AE) who didn’t know how to handle their account. Another big attraction for clients was the fact that I would build relationships on their behalf with key media and get them free below-the-line coverage. Working with someone on a retainer basis is also appealing to clients, as they don’t have the pressure of having to employ a permanent person and set them up with an office, furniture, equipment etc. It’s a far more cost effective option with not as many strings attached!

How does a new entrepreneur find business leads and profit from them?

I found networking key to the growth of my business. I joined up with a few networking groups and made sure I met with as many new people as possible – having one-on-one coffee appointments with people so that we could get to know each other and I’d have the opportunity to explain what I do. After all, people only do business with people they know, trust and respect. Ask for testimonials from existing clients and use them! I was pleasantly surprised at how willing my clients were to oblige. Testimonials are your biggest and most powerful form of advertising, especially in a service-related field!

How does a new entrepreneur figure out what makes them unique and leverage that difference?

Listen to what the market is saying: what problem are they experiencing and how can you help or fix it – make yourself the solution. In my case, I kept contact with a few of the clients from the advertising agency I had left and noticed a common thread when chatting with them – they all complained that they weren’t receiving the attention that they felt they deserved, as they had been pushed from junior AE to junior AE. They also wanted help in getting more free coverage and more below-the-line space in conjunction with their advertising as budgets were getting tighter and tighter.

How does a new entrepreneur figure out what to charge for their service/product?

I phoned around, Googled and spoke with other contacts in the industry to conduct research in terms of fee structures and billing options, and then positioned myself slap-bang in the middle – not too expensive and not cheap!

What was your most epic fail in the early days?

I had an idea of what I wanted my company logo to look like and got my graphic designer friend to do a few options of it for me to show to friends and family for their opinions. In a nutshell I wanted EM to be placed in the middle of the word communications – I figured this would be quite clever and would literally show EM in-between the word communications. Long story short… this was an epic fail and nobody else got it at all – if anything, they were all completely baffled! I quickly swallowed my pride and had my graphic designer buddy get stuck in to doing what she does best!

What are the two biggest/most common mistakes that new entrepreneurs make?

I think they often fall into the trap of saying yes to any and all business that comes their way instead of being selective with the types of clients they know they should be working with. Another mistake I think most new entrepreneurs make is under-valuing their time – or cutting their price just to get the work … big mistake!

How do you keep yourself motivated to continue?

I have a gratitude journal that I try to write in as often as I can … I always go back to it if I’m feeling low and page through it… within no time I am feeling less sorry for myself and ready to carry on moving forward!

Did you have a mentor?

I didn’t have one mentor in particular, but rather surrounded myself with a core group of other women in business who were always a phone call or email away with help, advice and reassurance!

How long does it take for a venture to get off the ground, in your experience?

I started off small with only one retainer client and slowly grew from there. It took me eight months before I managed to secure my second retainer client. Rather than shut shop if things aren’t picking up, I say tweak your offering.

Do you believe in internships for your business?

Yes, I have already had three students spend time with me – generally for a few days/week at a time. If readers want to intern, it’s a simple process: email me: emma@embetween.co.za  

If you could give yourself any advice back then, what are your top 5 wisdoms?

* Ask for help! You will be amazed at how many people are willing to give you advice freely!

* Stick to your knitting: stick to what you are good at and outsource what you battle with.

* Get a good accountant if, like me, accounting isn’t your thing.

* Learn to say no when you need to… and be okay with it.

* Get networking!

Get in touch with Emma Dunk from EM-Between Communications via email: emma@embetween.co.za, visit: www.embetween.co.za, find her on Facebook, Twitter: @Embetween and on LinkedIn. 

Michael Gullan: Don't underestimate good PR

Michael Gullan, Gullan&Gullan Advertising

In 2004, Michael Gullan made the leap into entrepreneurship by starting his own advertising agency, Gullan&Gullan Advertising (Pty) Ltd with a business partner. Their start-up capital was R100 000 and the pair were based out of Seattle Coffee Shop in Hyde Park Corner Shopping Centre in Johannesburg until they won their first client – Vespa – who they still have as a client today.

Have you always been entrepreneurial or is it something that’s grown over time?
My father is a successful entrepreneur and one of his ventures was an advertising and public relations company. As a child, I used to spend time playing in the studio of his agency. I knew then that I wanted to own my own agency. 

What kind of planning went into starting your venture?

When we started our agency we had no formal business plan. We formalised things a few years into the business. We started with a clear vision and mission of the kind of clients and work we wanted to attract and then went out and found it. That said, for a business-to-business service industry, I can’t see how too much of a technical business plan is relevant or helpful to charting the way forward. What is important is understanding your core offering and point of difference, positioning against competitors and mapping out your financial goals, and then making sure they are met. 

What was your big dream for your venture? 

We originally started the business as Guerrilla Marketing and our niche was to offer clients smart guerrilla marketing tactics and strikes that would have a maximum impact with tighter budgets. This positioning was limiting in that the bigger corporate brands were not interested in guerrilla tactics and so we struggled to make inroads for our full services agency. This is when we made the decision to rebrand Guerrilla Marketing as Gullan&Gullan and developed our proprietary brand-centricTM methodology. 

How does a new entrepreneur find business leads and profit from them? 

Identify sectors that you have some background experience in, as you will be able to add value and have an intelligent conversation when pitching your services. Target these sectors first by calling key decision-makers. Be sure you have smart and good quality supporting sales and marketing brochures, emails, business cards and website in place so you can communicate with them from multiple angles. What I always recommend is PR; there is nothing more effective for brands and businesses than some good ink, even more so than traditional awareness marketing. It comes with the journalist and media endorsement, and has much more gravitas. 

How does a new entrepreneur figure out what makes them unique from everyone else and leverage that difference? 

A SWOT analysis would be the obvious answer. But for a start up it’s prudent and important to know what you’re good at and amplify that. Be sure to interrogate your competitors and focus on being strong where they are weak. Also, without sounding too idealist – if you can do what you enjoy and are passionate about, you’re more likely to excel at it. 

How does a new entrepreneur figure out what to charge for their service/product? 

Pricing your product or service is one of the most important considerations. You need to research understand what your main competitors are doing. And have a clear set of objectives. Do you want to drive volume? If yes, then you should be priced competitively. Do you want a quality positioning? Then you should be charging a slight premium. Are you providing a luxury service; then you should be charging substantially more. Remember the general rule of thumb: The more expensive the more you have to invest in marketing.

What was your most epic fail in the early days? 

Positioning ourselves as a guerrilla marketing agency for clients with small budgets – our own growth potential was limited. The rebranding to Gullan&Gullan was the best solution, we moved offices, rebranded, developed our brand-centricTM methodology and got a bunch of PR and we never looked back. 

What are the two most common mistakes that new entrepreneurs make in their first three years of business?

Choosing the wrong business partners out of financial necessity – it is so difficult to get out of an ailing business partnership so rather don’t have partners or go, instead, into a partnership where the skills are complementary. Hiring cheap staff is also fraught – pay peanuts and get monkeys – so be prepared to pay the price for experience and expertise in key-areas of your business. 

How do you keep yourself motivated? 

I am a member of the Entrepreneurs Organisation (EO) and can always pick up the phone to any one of my fellow members and ask for advice or just a coffee to download some of my frustrations in a safe space. 

Do you have a mentor? 

A mentor is one of the most important assets an entrepreneur can have. I have my father who has successfully built a number of businesses, but he travels for half the year so is not always accessible day to day. Mostly, I draw on his grace, wisdom and in challenging times think, “What would my dad do?” My partner, Desiree, is also a mentor and helps me see and understand things from a viewpoint I don’t always see. 

How long does it take for a venture to get off the ground? 

In my experience there are no overnight successes. Even when you hear about a business that became an instant success, I can guarantee that there was at least five to 10 years of history of plugging away. So give yourself at least three years to turn a small profit and at least five to 10 years to achieve your success goals. You should always be looking at ways to improve your offering. People, behaviours and business changes too rapidly for any company to stagnate. The old adage “adapt or die” is too true! 

Is it ever alright to give up on a dream? 

Yes, when your dream becomes a nightmare, you need to wake up and smell the coffee. Then take a deep, honest look within and if need be let go of your dream and cut your losses quickly. Then take the time to learn from your mistakes and apply your learnings to your next dream. 

What’s your life motto? 

Family first. Everything else second. So whatever decision I make, I ask “Is this to the benefit of my family now and in the future?” 

Which three character traits do all entrepreneurs possess? 

A healthy appetite to take risks. The ability to function on little sleep. Being ok with making mistakes. 

If you could give yourself any advice when starting out, what would your top 5 wisdoms be? 

* Hire people smarter than you. 

* Be sure you have enough start-up capital. 

* Be clear about your positioning in the market. 

* Set realistic goals, write them down and have an action plan to achieve them. 

* Embrace change. Business is dynamic and the ability to adapt and change with the business is key to success. 

Get in touch with Michael Gullan from Gullan&Gullan via email: michael@gullanandgullan.com, visit: www.gullanandgullan.com, find him on Facebook and on LinkedIn. 

William Duk: 2012 Entrepreneur of the Year

William Duk, The Plantation Shutter Co.

William Duk is managing director of The Plantation Shutter Company and, with credit to his entrepreneurial mettle in turning a failed company around, was recently awarded top honours as the 2012 Sanlam/ Business Partners Entrepreneur of the Year®. He took over the running of the failed business in February 2007 with 30 staff and 39 “on hold” projects already lined up. Today the company is a successful and sustainable brand.

Have you always been entrepreneurial?

I have always been entrepreneurial even though I followed quite a traditional path by becoming a CA. This was always with a view to running my own business.

What were you doing before starting your business?

I had spent six and half years in the UK and arrived back in South Africa at the start of 2006 to “do my own thing”. My passion has always been business but as I had been away for a number of years, I felt that a more logical starting point would be focussing on property investing while building up contacts and keeping an open mind. I had some pounds saved up in the UK and used that to start a small commercial and industrial property portfolio. It was through that focus that I stumbled across my current business – it was a going concern, days away from failing and I purchased the building.

What kind of planning went into starting the venture?

The due diligence was only a three-day process as there was a small window of opportunity where the business could either have been revived or gone into full liquidation. My cash was all tied up in the buildings so the plan was therefore based around using the cash released from the sale of the building to me to get things moving in the right direction. It was very much a back-to-basics-type approach starting with the existing order book of 49 disillusioned clients. Of the 49, 39 still wanted their orders fulfilled, despite waiting for four to five months at that stage. Those that didn’t want their orders fulfilled were given their 50% deposits back. The rest of the money was used to pay off salaries that weren’t paid from October to December and to put payment plans in place with suppliers that had all gone legal.

What was your start up capital?

There was no start up capital per se – we used the funds released from the sale of the building. Over the next two years though, as I managed to get some of my funds out of my property portfolio, I invested money to fund initial losses and capital expansion programme.

What was your big dream for this venture?

As with anything I do, I wanted this to be the best shutter company in South Africa and through being “exceptional” ensure that the business is sustainable through the various stages of any economic cycle.

How does a new entrepreneur find business leads and profit from them?

There is no right or wrong way. It is about trying different things, measuring them and then seeing what works and what doesn’t. Word of mouth will however be a key part of any lead-generating exercise. I think statistically on average an unhappy client will tell 10 people and a happy client will refer two or three people with the chance of them converting being extremely high. If you’re not making your clients happy, spending time or money working out how to generate leads will result in a very short-lived business.

How does a new entrepreneur figure out what makes them unique and leverage that difference?

Understanding these differences needs to be core to your approach from the outset. It needs to form part of ones “homework” before you embark on the journey.

How does a new entrepreneur figure out what to charge for their service/product?

It’s a combination of understanding what it costs to produce and deliver, and what the market is prepared to pay for the product or service.

What was your most epic fail in the early days?

We relied on the final production measurements and other information we had on file to deliver the 39 back orders of people that still wanted us to fulfil their order and not just give their deposits back. With a complex, expensive, custom designed product, this turned out to be an expensive and hard lesson. Our first step was all about restoring some credibility in the marketplace, so we had to do it correctly. In hindsight, we should’ve just put each order back through a process as though they were new orders. If this delay meant losing more of the orders and paying deposits back, then so be it.

What are the two biggest/most common mistakes that new entrepreneurs make?

Getting ahead of themselves and not putting proper fiscal disciplines in place.

How do you keep yourself motivated?

Friends are friends through good times and bad, so perhaps choose your friends carefully if this is an issue! Motivation during tough times must always come from the bigger picture. In tough economic times you can also just open up any newspaper and read about yet another round of retrenchments to provide extra motivation, as most of those employees had very little control over their own destiny. No matter how hard it is sometimes, as an entrepreneur you’re at least in control of your own destiny ;)

Do you have a mentor?

I don’t have a mentor but I do think this can be very useful. I derived a lot of value (and still do), reading business books by or about people who have earned respect though what they’ve achieved in business, like Warren Buffett, Steve Jobs or Sir Richard Branson. You can achieve a lot of inspiration from others who have been successful and save a lot of time learning from others mistakes.

How long does it take for a venture to get off the ground, in your experience?

No less than 18 months and anywhere up to four years, depending on economic environment.

If you could give yourself any advice back then, what are your top 5 wisdoms?

Many of these are unique to partnering with the original founding partner prior to buying him out two years ago and then also entering into a recession just when we were gathering momentum:

* Taking over a failed business is in many ways harder than starting something from scratch.

* When someone thinks that something is a certain way, in reality, nine times out of 10, it will always be worse.

* If you’re buying any existing business, ensure you get statements of account on SARS liabilities as an easy way to see how well the business has been run (or not). It can be very time consuming to get a Tax Clearance Certificate but it’s very quick to get statements of account if you’re pushed for time during your due diligence.

* Things will always take longer to rectify than you think. A bit like building a house.

* Make sure you are aligned with whoever you go into business with; otherwise rather employ someone to fulfil that role.

Get in touch with William Duk from The Plantation Shutter Company via their website: http://www.plantation.co.za/, on Facebook and on Twitter: @pshutterco.

Infographic: The ease of African entrepreneurship

Another fantastic infographic from @ivanisawesome at Afrographique

So if this 2011 data from the World Bank is to be believed, your average South African entrepreneur takes 22 days to complete all the procedures necessary to legally operate a business. It seems things happen faster in smaller countries like Rwanda, Madagascar and Mali -- huh?

Anyway, have a fantastic weekend!

Wednesday 101s: 7 steps to mastering minute-taking

Wednesday 101s

Taking minutes is easy-peasy. Don’t freak out; just pay attention and you’ll be fine. Remember, you’re there as an observer to record what went down in a particular meeting, who said what, so everyone knows what was discussed and what their next steps are. This is called “on the record”.

1. NAMES & DESIGNATIONS 

While people are fussing round the boardroom table, note down the names of everyone present, starting with the boss and going around the table clockwise. Be very careful about the spelling of names – get it right! Then assign them initials; example: Chris Brown becomes CB for shorthand purposes. You’ll also need to know their job title, but you can look that up offline later when you type it up properly.

2. VENUE
Make a note of the date of the meeting, the time and venue. If there’s an agenda, keep it a bullet-style list and include in your final document. Also make a note of absentees.

3. MAKING NOTES
Taking minutes is like writing down what a professor has said during a lecture, except this time you want his wisdom and everyone else’s, even if it means writing notes dialogue-style. If the discussion is about a specific agenda item, always make sure to note what was said, what the next steps are, who’s accountable for doing them and the deadline by which things need to get done.

4. WHAT TO DO IN A VOTE
If any votes happen, note how many were for, and their names. How many against, and their names. And how many didn’t respond, and their names. Then note the result of the vote.

5. TIMINGS & DEADLINES
Note the time of any breaks or adjournments – and recommencements – as well as the time the meeting ends. Get a deadline from your boss on when he expects to see the first draft. This is usually before close of business or first thing the next day.

6. FINAL MASTERPIECE
Using a company letterhead, type up the minutes so that they make sense – we all have shorthand we use but not everyone’s is the same, so keep things understandable. Check out the example below on how to present the document. Also make sure that the minutes run to the agenda, even if the meeting didn't. Spell-check your document before you print out your first draft and give to the boss for checking and approval. Not all bosses need to approve minutes as every company has different systems in place. 

Example of minutes

7. APPROVAL & DISTRIBUTION 

Once approved, mail a copy to each of the attendees of the meeting, as well as the people who were absent and invite their comments and/or any amendments by a certain date. Print out a copy and put it on file.

Do you have a system that works better for you? Let me know below...