Page 5 - KZN Business Sense Nkosenhle Hlophe eBook 9.5

WHAT STAGE IS YOUR BUSINESS AT REALLY?

Biz CORNER

TALK MARLENE
with Business Coach
POWELL

@coachmarlenepowell @actioncoachmarlene

o determine where you reliant on the business owner – no
think you are in your work no pay!
Tbusiness, you may have On the other hand, a sellable
first identified at which stage you
are at. Then, look at where your asset-based business generally
has employees. They often involve
business should be based on the equipment and processes that
years you have been in business.
allows your business to run
First let us establish whether you whether you are present or not
are a lifestyle business or a sellable (a topic for another day for those business, as you would be with a is required to provide for you
asset base business. super heros). Typically, they operate lifestyle business. now and that will sustain your https://marlenepowell.actioncoach.com/
discoverysession/
from premises away from home
A lifestyle business could be Our definition of a business is lifestyle for as long as you Feel free to join our next MemberSHIP
ascertained as a business that is and may be in multiple areas. a commercial profitable business shall live. Workshop (Third Tuesday monthly) to
owner run where the business is A lifestyle business is a perfect that works without you! Once you have established that, meet our clients who run both lifestyle
designed to support the owner opportunity to enable you to then you will be very clear as and asset-based businesses and hear what
they are doing.
who has other responsibilities invest your profits outside of the Now that you have hopefully to whether you would want to
e.g. a mother who is caring for business by way of investing in identified what stage your business continue to run a lifestyle business *Read my blog https://actioncoach.
co.za/2021/04/01/f-r-e-e-d-o-m-its-a-choice/
children or other family members, property portfolios, shares or any is at and you have seen our (you are the business and the
or who has other responsibilities other wealth creation vehicles. definition of a business, I’d like income generator) and have the Contact me on https://linkshare.co.za/
marlenepowell or call +27 (0)83 479 4471
that make it more difficult to However, the asset-based business you to make a conscious decision. *Freedom to Choose (dependant
hold a full-time job. You may is able to scale, enabling you to Do you want to continue to run on time and money available) or
prefer to work from home, rather have the potential to sell it to a lifestyle business and work for a sellable asset base business that
than traveling to an office. You someone else and walk away with yourself or run a sellable asset base can provide you with the time and
may find that you can earn more not only the salary and profits business that can work for you money to enable you to have the
working part time for yourself earned (hopefully) over the years whether you are present or not? *Freedom of Choice (don’t need to SCAN
and prefer it to working for a boss of running your business but also To enable you to make this sacrifice time or money).  QR CODE TO
or you have no other option. A the money you banked that you decision you should be very
lifestyle business definitely allows received from the new buyer. To clear on why you are in business Need a sounding board? Click on the link SEE THE 14
for flexibility of time but would do that, however, you need to in the first place (Your Purpose below and set up a discovery call with me BENEFITS OF
require a very strong discipline. structure your business so that and Why). You should know to help you find your true purpose of why MEMBERSHIP
This type of business is heavily you’re not an essential part in the how much time and money you are in business.

A JOURNEY TO SUCCESS

saac Mbatha’s strong flyers as well as sticking flyers on employees. The company started
entrepreneurial spirit led taxis windows in order to get his tent manufacturing with only
Ihim to establish Sky Tents business off the ground. three employees. In 2017 this
in 2015. His entry into the tent Isaac hit his biggest challenge number grew from six to 13
business began with washing in 2015/16, when he felt that employees with the company now
and mending tents as well as, everything was going wrong and employing 79 people.
on a small scale, acting as a he had a large amount of debt. At
middleman in the tent hire that time Isaac hit rock bottom While Sky Tents started with
business. The establishment of and he struggled enormously with pole tents, the range of products
the tent manufacturing business stress. He said, “I learnt that I had has grown to include stretch
was in response to the many to be brave. There was only one way tents, frame tents and dome
requests from people who had to get out of the predicament I was tents amongst other products,
done business with him. in and that was to pick myself up.” for a wide range of applications.
In addition, Sky Tents services
Sky Tents was the name chosen Isaac had always enjoyed listening include the supply of tables and
for his business venture as he said to Ukhozi FM radio station and he chairs, draping, mobile toilets,
the name would encourage him saw a means to both help people and mobile chillers. The company
to push his business’s growth as to change their lives and to get his is now venturing in to injection
much as possible. Isaac explained, name in the tent business known. moulding. Kay-Leigh and Isaac Mbatha at the Standard Bank KZN Top Business Awards 2023.
“There is nothing above the sky – He approached the head of Ukhozi
there are no limits on the road to FM with a plan to be the first radio Sky Tents has branches in nine products; they are about your the Standard Bank Client of the
services. As a company, our
Year award in the SME category.
growth and success.” station to give away businesses locations in South Africa and has clients value our service and our
Isaac faced many challenges to aspiring entrepreneurs, which international clients in Namibia, opinions so they will even often www.skytentsa.co.za
Botswana, Nigeria, Algeria,
in the first year of operation was accepted by the station with Swaziland, Uganda, Lesotho, the ask us for business referrals for
including opposition from much enthusiasm. During 2017, Seychelles, Zambia, Mozambique unrelated products.”
his competitors. As his profit Sky Tents gave away 100 tents to and Zimbabwe.
margins were slim, each tent he entrepreneurs to create a business For him one of the highlights of
made relied on the 50% deposit and an opportunity for their own Isaac says his business his journey to success has been
paid by the customer in order to success. Isaac said that helping philosophy is based on his belief being recognised by the Forbes
purchase material. people to change their lives was a that consistency is key to success. Africa 30 Under 30 list in 2019. In
highlight of his career. “My head has been down and I 2022, he won the Standard Bank
He spent much time walking KZN Top Business Entrepreneur
the streets and handing out The business growth is evident have run my own race. Clients
in the Sky Tents’ number of are not just about buying your award for resilience and in 2023

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