Entrepreneurship Company news South Africa

Conquering the storm

"There are seven steps that can help steer any business through stormy waters, building resilience and a scalable business," says Pieter Scholtz, ActionCoach country partner for South Africa and Botswana, and speaker at The Business Show taking place in Sandton, Johannesburg on 6 and 7 September.
Conquering the storm

Scholtz lists the steps as Building Resilience, Defining your USP, Building TRUST, Scalability, Focusing on Cashflow, Your Business Building Blocks and Taking ACTION.

“Burnout is very real in today’s world,” says Scholtz, “so resilience is top of the list. However, resilience is directly related to the mindset from which business owners operate. It is a matter of perspective and which worldview you apply in life and business. If, for example, you take one statement and decide to unpack it through different worldviews, you’ll have three different take-outs.”

An example: ‘Globally 4.3% of all children die before they are 15 years old’. This can paint the picture of an awful world. However, if you dig a bit deeper and find that ‘in the past, 50% of children died versus today’s average of 4.3%’, then the world begins to feel much better. If you dig a bit deeper still and understand that ‘globally whilst 4.3% of all children may die’, in the European Union it is a much lower 0.45% – then the world looks like a much better place.

Other factors that affect resilience are hardiness, emotional insight, the ability to learn and reflect, applying different coping strategies, maintaining positive emotion, regulating negative emotions, nurturing relationships and health and fitness.

“Once the first step has been confronted and worked on, then the rest begins to almost seamlessly follow,” says Scholtz. “Cashflow is the lifeblood of every organisation and always tells a story of growth or decline in the business over a period of time. Using a formula called 'The Power of One', which focuses on the seven levers of cashflow and profitability, business owners are able to extract compounding growth results through incremental changes in each of the seven levers.

"A 1% change in price, volume, COGS, and overheads, together with a 1-day improvement either way in accounts receivables, inventory or WIP and accounts payables results in compounding improvements in cashflow and profitability, which is so important during tough economic cycles.”

Scholtz will also be unpacking business building blocks and what the term ‘taking action’ can encompass. The presentation contains practical tools that ActionCoach SA have implemented in hundreds of businesses across the country.

“South Africa is a resilient nation, proven time and again. As business leaders we have the opportunity to lead teams who thrive in lieu of those who simply survive. We also have the choice to continue building businesses that deliver a positive impact across our communities and our country at large,” says Scholtz. “So many of the tried and tested business processes of yesterday do still apply today. It is our responsibility as leaders to guide and inspire our teams through these difficult times, while preventing external pressures from determining success.”

Tickets are free with pre-registration. To register, visit https://www.thebizshow.africa/visitors/tickets.

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