Articles/Newsletter

Key Learning Points about Business

Business is a challenge, and many books are written on how to successfully manage a business. In many ways, the simple truth is that as long as you are patient enough to grow the business, you are bold enough to implement your dream, and you record, and record and record your transactions, you will make it. Here are some additional tips that you can keep for refreshing your mind daily, and I mean daily, after all it's not a whole book!

Every business has challenges and problems. It does not matter how old, or young, how big or small the business is. So don't make problems an excuse!!
Businesses run on ideas, and new ideas keep on saving a business to meet challenges and solve problems. No ideas, no business!
Business ideas are developed from business opportunities. The uniqueness of a business idea must be clearly identified. Uniqueness attracts customer attention!
Opportunities can be perfect, but our habits, personal values can contradict the business values. If a thief runs a business, he will keep on stealing from his own business!
There must be congruence between the business values, personal values, the opportunity and the vision of the business. For the business to survive and fulfill its vision, the personal values must complement the business values.
A good business manager is able to balance short-term and long term demands. This is important for growing the business by making good decisions.
Every activity and process in the business must focus on making a profit – have a profit motive
Develop activities and plans that give you a strong cash position, don't make hasty decisions that create debt, no matter how attractive.
A business can be rich because it has plenty of assets, but if it has no cash, it is as good as dead. The flexibility and ability of a business is dependent on its cash position. Without cash, the dream remains a dream, and a good idea remains a good idea.
To generate cash, always maintain a positive balance between cash as credit and cash as accounts receivable. That is, it is better to have more people owing you, than the other way round. This helps you manage cash flow.
Profit is for growth, but cash is for operations (that's why without cash a business is dead). If a business does not generate profit, it does not motivate the owners, and eventually dies a natural death.
Consciously develop value and values for your business. Business values result from the vision and strategy of the business enterprises.
Values can make you unique and purpose driven, and give your business a unique identity. Values bring cash – they create standards and quality that attracts customers.
No business can survive without its customers. Looking after and understanding customers generate business value, and business value makes your business sustainable and competitive.
Your future cash balance is more important than your current cash balance, because it gives you a picture of your cash status. Keep your eyes on the future cash balance for business success and growth.
Many managers make decisions based on the current cash balance. Decisions based on a future cash balance means that risk has been considered into the picture.
Every business decision has a risk associated with it. Always evaluate a business proposal or job not in terms of the profit it intends to make, but on the amount of risk it carries. Many fingers have been burnt because of excitement over an expected profit.
And lastly, never eat business money; eating is a one way process with a one way result. Rather always invest business money.

New offices for SAIMED

It is with great pleasure that we are able to proudly announce that SAIMED has moved offices from MISA Botswana offices to Gaborone International Finance Park at SAMDEF House, next to Kgale mews.

Thanks to OSISA and the hard work of each staff member of SAIMED. We view this new development as a great accomplishment, said Jacqueline Kabeta, Chief Executive Officer. SAIMED started its operations in its new offices on the 1st July 2006. The offices provide space for administration and a resource centre. We do everything we can to offer superior services and products as a media management-training organisation.

The well-furnished, Air-conditioned resource room can take up to 30 people and it is available for hire to NGOs, government, parastatals, private institutions and individuals for conferences, seminars, workshops and meetings.

SAIMED Hosts a Regional Media Management Consultants’ Workshop

This year SAIMED went all out to build rapport and skills among its consultants. Over twelve invited consultants attended a two-day regional workshop held at SAIMED’s resource center from the 28th -29th September 2006. For many of the consultants this was the first time they had been to SAIMED offices and they found the experience worthwhile. The consultants represented different countries in the region that included: Mozambique, Lesotho, Malawi, Botswana, Zimbabwe, Zambia, South Africa, Swaziland and Tanzania.

SAIMED Chief Executive Jacqueline Kabeta said the workshop proved to be a rewarding exercise for SAIMED, the consultants and indeed to various media enterprises that are its services and products recipients. “ We were pleased to host this workshop to review media management training under SAIMED. Media sustainability in the region has continued being a challenge despite in-roads having been made towards creation of good media political environment in most countries in the region.” These were words that were echoed by MISA Chairperson and SAIMED board member, Laona Segaetsho in his official opening speech. “There is need to find better means to deliver training so that the media could strive in this newfound substantive environment in the SADC”, Laona said. As SAIMED played a substantive role in building skills of managers, it was important that it worked closely with its consultants to ensure that sustainability of media in the region succeeds.

Under this workshop, the consultants reviewed best practices and challenges they encounter. SAIMED is particularly proud of the work it has done to mobilize these consultants who bring on board various expertise to make media enterprises viable entities. “We are enjoying working with the consultants especially their role in the recently ended mentorship programme and I really believe that our success as SAIMED lies in our ability to generate success for the media in Southern Africa,” explains Jacqueline.

Partnerships Expands Value for SAIMED

As part of SAIMED’s commitment to continuously improve what it does best, it recently embraced a partnership with Sol Plaatje Institute (SPI) for Media Leadership of Rhodes University. By partnership, the two institutions foster the appreciation that each institution has distinctive strengths, strategies and areas of competencies but need to compliment each other‘s work to maximize their impact in the region. A draft memorandum of understanding that provides guideline for future cooperation between the two institutions has been drawn.

SAIMED has not stopped embracing partnerships at SPI. In the third quarter of the year, which is traditionally the busiest period for SAIMED, measures were under way to ensure that its memorandum of Understanding with SAMDEF and MISA is established. This is vital for the success of the three organisations and to improvement all aspects of the media fabric in the SADC.