Gearing your business towards success!

27th August 2020

Sarah Haffenden

– by Nkosingiphile Ntshangase

Many have been affected economically over the past couple of months due to COVID-19 and with retrenchments looming, if they have not already been enforced, has resulted in individuals seeking alternative avenues to stay afloat during this challenging time. On the 18th of August 2020, we hosted the Entrepreneurship segment of our Women’s Month Webinar Series to empower those that are embarking on the journey in entrepreneurship. This segment was hosted by Vani Moodley (Chief Executive, Vani Moodley & Associates), an industry high-flyer with twenty-eight years’ worth of experience in business, leadership, and management expertise. Vani facilitated discussions that included personal entrepreneurial competencies, understanding the reason behind your business, exploring the economic environment, and covering the administrative basis for ‘Business start-ups’.

As a result of COVID-19, we have seen many businesses diversifying their scope and services to adapt and shift the focus to survival mode. The emergency response of businesses has seen many beginnings of sourcing products that are in demand during this pandemic such as PPEs, that include hand sanitisers, masks, and latex gloves which may not have been their primary forte. Seeing the demand for these products, many businesses have decided to jump on the band-wagon for distribution, highlighting the significance of being agile in the field of business. PPE procurement funded by the public sector has presented a unique playing field for businesses to partake in the tendering process and have a piece of the pie in the industry. However, a win for entrepreneurs in this context has the potential to harm the bigger picture of the economy with the corruption that it has brought with it. 

A significant aspect of the entrepreneurial mindset is being self-aware and understanding people’s perceptions of you and how your presence affects them. This helps with navigating human relations between colleagues or customers, and are contributing factors towards the success of any business. It is natural to have plenty of ideas at the beginning of your journey that is why the brainstorming process is a key element in finalising a business concept. In the infant stages of a business, this lays a roadmap of where your business needs to go. Entrepreneurship is not an easy road and coming across obstacles that demand innovative processes to counteract these challenges is part of the territory. Maintaining a positive attitude throughout makes weathering the storms a little easier on the road to a successful business.  

Vani concluded her presentation with an entrepreneur’s creed:

“I do no choose to be a common Wo/man.

It is my right to be uncommon…if I can

I seek opportunity…not security, I want to take the calculated risk;

To dream and to build.

To fail and to succeed.

I will never cower before any master. Nor bend to any threat.

It is my heritage to stand proud and unafraid; to think and act for myself, to enjoy the benefits of my creations and to face the World boldly and say this I have done!”

I am an Entrepreneur- Thomas Paire (1776)

To watch Vani’s full webinar, click here

Please check our website for updates on this series and RSVP for these webinars here.