Entrepreneurs learn about financial mastery

Hirsch’s Carnival kicked off their second Entrepreneurs Workshop for the year with over 50 entrepreneurs and small business owners joining guest speakers Elsa Groenewald and Lori Milner to learn the finer points on how to get their businesses off the ground.

The topic was centred around financial mastery.

“You can’t manage what you don’t measure,” said Groenewald.

“To be able to make informed decisions, you need the numbers.

“What were your historical sales, expenses and profit and what should they be for the coming year?

“You need to start with a budget. Plan your targeted number of customers that will generate your income, plan your expenses and see where you can cut back, but very importantly, include a salary for yourself. ”

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She emphasised the importance of having a weekly cash flow forecast.

“It can either scare you when you see how badly you did, or it can motivate you to do more, because numbers don’t lie – they show you where your business really is,”  she said.

“This is a good mechanism to get you to realise the amount of effort you need to put in to have a profitable business.”

Lori Milner, CEO of Beyond the Dress, has worked with some of the biggest names in industry to empower their staff and help them reach their potential with a series of programmes called Own Your Space.

She provided the following pointers:

• Own your head space – help your workforce to thrive with a mind-set in which personal accountability and a positive attitude can boost job satisfaction and motivation.

• Own your physical space – master your physical presence, and learn how to leverage both your verbal and non-verbal communication skills to become more persuasive and engaging.

• Own your interpersonal space – boost productivity by bridging communication gaps, developing strong relationships, and dealing effectively with customer or workplace conflict.

• Own your virtual space – develop an awareness of the etiquette of email, phone and social media usage that is often overlooked, even though these communication channels are increasingly the face of an organisation.

• Own your time – learn to be more effective in achieving or exceeding business goals through powerful time management techniques.

• Own your network – develop online and offline networking skills and techniques to establish and enhance a well-connected business environment.

• Own your decisions, successes and failures – empower employees to become confident decision makers and understand how both successes and failures can be beneficial to their careers.

• Own your ask – ensure your employees are never afraid or unsure of the best ways to ask for assistance, advancement, advice or guidance in a comfortable and confident manner.

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• Own your podium – even the most reserved speakers will find a confident voice with a program designed to overcome nerves and present information in a compelling way.

Generating Cash flow will be the topic of discussion at the next workshop on May 6 at the Hirsch’s Carnival branch.

The workshop starts at 10am.

To book your spot, contact Chantelle du plessis on 010 822 2050 or send an email to Chantelled@hirschs.co.za

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