Back to Business Basics Challenge #TwoWeekBizReset (Week 2)

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Week 2 of the SME South Africa Business Reset goes beyond motivation and inspiration to help you overcome the business challenges brought on by COVID-19.

We share practical advice – from big lessons you should be learning from your competitors to something as simple as following up with your clients.

Haven’t taken a moment to reflect since COVID-19? Use SME South Africa’s 2-week reset to PAUSE, TAKE STOCK and PLAN for the rest of 2020 for a better business in just 10 days.

  • See Week 1 of the Challenge HERE#2WeekBizReset.

Go for the mutual win, says Mike Anderson.

“A successful deal is where both parties walk away feeling that they have won.

“Your negotiation skills have a lot to do with this,” says the respected author and founder and CEO of the National Small Business Chamber. Read to learn more about how to get the most from every negotiation. READ MORE

Stop seeing competition as a challenge to your business, instead see how your fellow entrepreneurs can make you a better entrepreneur. If you don’t believe this see Dr Thommie Burger’s ’11 Reasons Why Competition is Good for You’. “The reality is competition is everywhere. No matter what business you’re in, you will benefit greatly from studying your competition,” he writes. READ MORE

You’ve heard the saying ‘it’s cheaper to keep an existing customer than it is to acquire a new one’. Themba Nkuna shows you how you can win by delighting your existing customers.

He writes, “Once you have established reliable relationships with your existing clients, opportunities to resell, upsell and cross-sell will emerge, as a result there might not even be a need to allocate an comprehensive budget to advertising because of the relationships you’ve built with your existing customers.” READ MORE

Generating sales is now, during COVID-19, more important than ever. Wondering why you can’t seem to close any deals? It could be because you are failing to keep in contact with your prospects while they are in the “consideration phase”, writes Aaron Beashel.

“Maintaining contact during your prospect’s “consideration phase” (and even after a contract is signed) keeps that trust high and lets them know that you care. “This makes it more likely for you to have happy clients who will stick around for a while, giving you a high lifetime value per client.” READ MORE

Ultimately, success is not guaranteed. You are going to face business challenges, but being able to find the lesson in each failure is what will likely lead to your  success, argues Will Smith. READ MORE

See Week 1 of the Challenge HERE.

  • For Daily Prompts – Follow the Challenge on the SME South Africa Instagram page HERE or on Twitter HERE
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Lebohang Thulo
Lebohang Thulo
Lebohang Thulo is the editor of SME South Africa. She enjoys keeping up with the country’s exciting and fast developing entrepreneurship ecosystem. You can find her at @lelele3