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BUSINESSLINK NEWSLETTER
SME BusinessLink Community Newsletter March 07-13 2012 Issue No.16
HTTP://SMEBUSINESSLINK.COM
March 6, 2012Authored by: Phillip Chichoni
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BUSINESSLINK NEWSLETTERSME BusinessLink Community Newsletter March 7-13 2012
ContentsREADERS FEEDBACK...........................................................................................2ZIMRA INTENSIFIES TAX AUDIT ON SMES- HOW TO AVOID BEING CAUGHT OUT.......3ZIMBABWEANS LETS ALL USE REFUSE BAGS TO CONTROL LITTER...........................5“CREATIVE MARKETING FOR EXCEPTIONAL RESULTS”............................................614 EASY WAYS TO GET INSANELY MOTIVATED.....................................................7GENERATE LEADS LIKE A MANAGEMENT GURU......................................................8SME BUSINESSLINK MAGAZINE COMING SOON, DON’T DESPAIR............................9DON’T MISS THIS MONTH’S BREAKFAST MEETING ON 30 MARCH, WITH SIMON BERE10WIN FREE TICKETS TO BUSINESSLINK NETWORKING BREAKFAST........................11PLEASE SHARE YOUR STORIES AND WORDS OF ADVICE (AND YOU COULD
WIN)....................................................................................................................11BUSINESSLINK NETWORKING CLUB IS BRANCHING OUT FROM HARARE................11SOUTH AFRICAN COMPANIES ARE LOOKING FOR BUSINESS PARTNERS IN ZIMBABWE12
This free weekly newsletter is sent to subscribers on the BusinessLink mailing list. If it has been sent to you in error, or you no longer wish to receive it, please reply to this email with UNSUBSCRIBE on the subject line. To subscribe just send an email to [email protected] with SUBSCRIBE on the subject line. Please pass on this newsletter to those in your network.
Don’t miss out on opportunities to grow your businessTo list your profile and / or advertise your products in this newsletter and on the BusinessLink
Community website, please see the back page.
Let’s grow the BusinessLink Community togetherPlease send me your thoughts and feedback by email or
post your comments at www.facebook/smebusinesslink or on our website. Invite your friends and contacts to subscribe to the free newsletter and also participate in our activities and accelerate each one’s growth! Best wishes in 2012.
Phillip Chichoni –PublisherCopyright © 2012 Admiral Business Systems (Pvt) Ltd.
All rights reserved.
To subscribe to the BusinessLink Gold Club, please download subscription form at our website.
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Readers FeedbackWhy young indigenous Zimbabweans cannot run successful businesses
I agree with the notion that youth have learned from the worst and are still learning from the worst. There is an entitlement disease in our business environment and it moves us from one sector to another, empowered by ill thought regulations. My solution will be to have a business umbrella organization that incubates start up business, providing mentor ship programs that minimize risk. The incubators can also provide basic administrative and marketing services at low cost to the start up. I am sure this will increase the rate of success of these businesses. The incubator can actually start an exchange that values these businesses and open it up to local and regional Venture capitalist who might want to invest in the growth of these businesses. The key is finding business people who are ethical, competent and willing to help young minds and I suggest looking beyond borders for Zimbabweans who have done well and would like to partner with such an initiative. -Jeffrey
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The environment which was in Zimbabwe needed entrepreneurs who could adapt to it and thrive, let’s not classify those who just copy-and-paste as entrepreneurs. They are people who just want to make a living with money being the driver for them.I believe that money is a bi-product of success. The Zim situation for me provided an opportunity to get into business, with less to invest as the cost of investment right now is lesser than it would be 5-10yrs to come. As an entrepreneur, I saw that the poor quality products which, even reputable companies were supplying, gave me a chance to launch a product which was easily seen as a quality product. In fact, it competes on a par with imported Top of the range SA products.
My only advantage was that I invested a lot in getting knowledge; I stood by my belief of quality rather than quantity. I wanted to distinguish myself and my products from those which were dominating.
The major challenge which is being faced by many youth is the lack of a supportive financial sector, guidance and exposure. Many youths do not have access to the funds provided by banks. The Min of Youth is trying but the funds are little. Also, those with good ideas don’t have access or are given the same platform as everyone else. All youth are seen as people who want to start projects rather than institutions. They are given a short period to pay back leading them to undercut somewhere. If they are support available, good business youth will be seen. As is known right now, those with money to invest want their returns as soon as yesterday; this doesn’t tally with establishing a proper business which takes time to build.
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Luke - online
Zimra intensifies tax audit on SMEs- How to avoid being caught out
By Phillip ChichoniThe Zimbabwe revenue authority seems very determined to catch businesses they
suspect of not paying taxes, or paying the correct taxes.In the past three weeks, four of my clients who own medium sized businesses have
been visited by Zimra audit teams in different parts of Harare. Fortunately for three of them, all was in order and the auditors left satisfied. However, the third business still had some issues to be settled, and the owner had been taking his time to get his books in order. Worse still, when the Zimra team arrived, he tried to explain too much and ended up incriminating himself.
Those who haven’t read my 2012 Simplified Guide to Taxes for SMEs should do so. You can download a copy for free at http://smebusinesslink.com.
In brief, there are basically three tax heads that Zimra are likely to investigate when dealing with SMEs. These are, in order of importance, VAT, PAYE, Customs Duty and Income Tax (Corporate Tax)
VATValue Added Tax is the biggest source of revenue for Treasury, that is why they
introduced the Fiscalised Cash Register system to plug any loopholes in revenue collection. For those SMEs who are VAT registered, you need to ensure that you submit your monthly returns, including input VAT schedules on time every month. VAT returns and payments have to be submitted by the 25th of the next month. Skip one month or delay your payment and you open yourself up for heavy penalties after an investigation.
PAYEThis is basically taxed on employees (and owners/ directors) salaries. Some
business owners make the mistake of pretending not to pay themselves. Zimra knows that you are taking money from the business to pay for your upkeep; there is no way you can survive without pay. So declare the correct amount and pay on time to avoid embarrassing interviews with the audit team.
Import taxesZimra has also intensified efforts to prevent smuggling and will want to see invoices
and customs duty payment invoices on all imported goods; be they motor vehicles, office equipment or machines. Keep these for six years or else you will pay a heavy penalty if found without them.
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Corporate TaxThis is the tax paid by companies on their taxable profits. You should pay quarterly
QPDs in March, June, September and December. Then around this time of the year, when you have finalized your financial accounts for the year (2011), you should them to Zimra for assessment. You may need to pay more or claim a refund, depending on how accurate your estimates were on the QPDs.
Some business owners have made the mistake of hiring cheap consultant who give them incorrect advice, sometimes to please them or even to make them break the law. Zimra takes tax fraud seriously and will punish the company directors, not the tax consultant.
Having a Financial Records and Accounting System is the best way to avoid mistakes and errors when submitting your tax returns. Besides, Zimra may want to see your original records at any time. A good and accurate system, whether manual or computerized, will reduce chances of them raising eyebrows and asking for a thorough investigation, which will cause you a lot of inconvenience.
If you happen to have the Zimra audit team visit you, it is better to seek the advice of a professional accountant or tax consultant, who is better equipped to solve the problems and where necessary, negotiate a better deal on your behalf.
Download 2012 Simplified Tax Guide here (http://smebusinesslink.com) or send me an email if you need more information. The address is [email protected]
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Zimbabweans lets all use refuse bags to control litter
By Charles Chakamanga
Hello fellow Zimbabweans. .Litter has become a Cancer in our towns and cities, and if you do not see it, you must be one of the Litter Bugs. The purpose of this article is to pass on the message that "WE NEED NOT LITTER, LETS USE REFUSE BAGS / BIN LINERS". It’s that simple, if we all set our minds to it, we can make a change and, especially Harare will regain its "SUNSHINE CITY STATUS".
Waste bags and Sacks' are flexible material used for lining litter or waste containers or bins. This serves to keep the container sanitary by avoiding container contact with the rubbish. After the bag in the container is filled with litter, the bag can be conveniently pulled out by its edges, closed, and tied...
It is widely used for collection, storage, disposal and handling of different waste stream such as clinical, recycling, and domestic, hospital, kitchen waste etc. Most bags nowadays are made out of plastic.
Advantages of Waste bags Low cost Leak proof Keeps waste bin clean Lightweight & Portable Hygienic - Use a tie, strong or just knot to prevent the content
spillage/leakage Reduces clean-up time in office, home, industry etc. Convenient and
hygienic. Printed and Colour coded bags offers easy waste segregation Strong and durable Offers resistant to water & weather Can be recycled
We at Plastipak as the name suggests, sell Refuse Bags at very affordable prices. REFUSE BAGS / BIN LINERS are a necessity they need not be expensive. CALL US ON ANY OF THESE NUMBERS IN HARARE AND WE WILL DELIVER YOUR BAGS.+263735120128, +263772372792"SPREAD THE WORD, REFUSE BAGS ARE THE WAY TO GO"
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REMEMBER,"DO NOT MAKE YOUR LITTER PROBLEM A PROBLEM FOR EVERYONE ELSE.
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“Creative marketing for exceptional results”
SME BUSINESSLINK HALF-DAY SEMINAR, Thursday 22 March, 2012
Objective of the seminar: To equip entrepreneurs with essential knowledge of Guerilla Marketing- low cost unconventional marketing and advertising strategies, and how to leverage the power of the networking and internet social media to get exceptional results in a competitive environment.
PresentersPhillip Chichoni: Business planning consultant with Admiral Business Systems P/L and
founder of SME BusinessLink Networking Club, one of the largest and fastest growing grouping of high performance Zimbabwean entrepreneurs.
William Makava: E-Business Consultant, Chief Executive of Likwena Limited. William has helped scores of entrepreneurs set up online businesses, develop successful internet marketing strategies, leverage social media and promote content online to attract paying customers.
Max Soutter: Founder of Bizsetup Group, expert in business growth and both online and offline marketing. Max has helped numerous entrepreneurs start and grow businesses in profitable market niches across various business sectors. His online network has one of the largest subscribers in Zimbabwe.
Other presenters to be advised soon.After the seminar, you will know exactly how to use time, energy, creativity and
imagination, rather than a big budget, to generate a buzz that will turn viral to promote your products and services and pump up your sales and profits.
The topics include: The basic principles of marketing Why you should not copy the marketing strategies of big and old companies The principles and strategies of guerilla marketing Examples of guerilla marketing and buzz generation that have worked
exceptionally How to setup your business online Developing an internet marketing strategy that works Leveraging the power of social media and networks Tools and strategies for maximizing online visibility E-commerce setting up in Zimbabwe
Venue: Holiday Inn Harare, Time: 0830-1400 (Lunch included)Fee: $75 ($45 for BusinessLink Gold Club subscribers)
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To book, download the SEMINAR APPLICATION FORM at http://smebusinesslink.com or request one by email to [email protected] or call Christine on 0772 854 301.
14 Easy Ways to Get Insanely Motivated
These simple strategies will keep you energized throughout the year.
By Geoffrey James It's two months into the New Year and with New Year resolutions already forgotten I thought it appropriate to give you all a little gift: a column that I guarantee will make you more successful by the
end of the year.Here are 14 quick strategies to get and keep you motivated:1. Condition your mind. Train yourself to think positive thoughts while avoiding
negative thoughts.2. Condition your body. It takes physical energy to take action. Get your food and
exercise budget in place and follow it like a business plan.3. Avoid negative people. They drain your energy and waste your time, so hanging
with them is like shooting yourself in the foot.4. Seek out the similarly motivated. Their positive energy will rub off on you and you
can imitate their success strategies.5. Have goals–but remain flexible. No plan should be cast in concrete, lest it become
more important than achieving the goal.6. Act with a higher purpose. Any activity or action that doesn’t serve your higher
goal is wasted effort--and should be avoided.7. Take responsibility for your own results. If you blame (or credit) luck, fate or divine
intervention, you’ll always have an excuse.8. Stretch past your limits on a daily basis. Walking the old, familiar paths is how you
grow old. Stretching makes you grow and evolve.9. Don't wait for perfection; do it now! Perfectionists are the losers in the game of
life. Strive for excellence rather than the unachievable.10.Celebrate your failures. Your most important lessons in life will come from what
you don't achieve. Take time to understand where you fell short.11.Don’t take success too seriously. Success can breed tomorrow's failure if you use
it as an excuse to become complacent.12.Avoid weak goals. Goals are the soul of achievement, so never begin them with
"I'll try ..." Always start with "I will" or "I must."
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13.Treat inaction as the only real failure. If you don’t take action, you fail by default and can't even learn from the experience.
14.Think before you speak. Keep silent rather than express something that doesn’t serve your purpose.
The above is based on a conversation with Omar Periu, one of the world’s best (and best known) motivational speakers. www.cbsnews.com
Generate leads like a management guru
By Tom Searcy
Peter F. Drucker is seen in this recentbut undated photo made available byClaremont Graduate University,Friday, Nov. 11, 2005.(Credit: CBS)
One of the authors who is always on my Kindle is the late management guru, Peter Drucker, who I think is a role model for lead generation.
Drucker once said, "There is only one valid definition of business purpose: to create a customer." To do this, a sales person must answer three classic
questions Drucker posed in his 1954 book, "The Practice of Management": What is our business? Who is our customer? What does our customer consider valuable?
It would be a better business world if all sales people had good answers to Ducker’s three questions. If they did, they would be on the road to landing more customers. Here are five lead generation strategies right out of Drucker's guru playbook:
1. To attract new customers, the best approach is to do what Drucker did for five decades. Demonstrate your expertise by giving away valuable information through writing and speaking. Companies can fill a pipeline with qualified leads by offering advice on how to overcome their prospect's most pressing problems.
2. Understanding the psychology of customers also provides critical evidence of the validity of the speak-up-and-get-published approach. If you sell a service or a big-ticket item, these are what economists sometimes call "credence" goods, in that purchasers must place great faith in those who sell these services and expensive products. How can potential customers trust you if they never hear what you have to say?
3. The good news is there is a body of knowledge that will help you generate leads like a guru. Management consulting firms like McKinsey & Co. pioneered the approach and have it down to a science. Speaking and writing to generate leads is a growing trend. According to FGI Research, 94 percent of the biggest law firms regularly hold seminars to generate leads. Lawyers at the top 1,000 firms ranked seminars as the
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most effective tool for cross-selling and gaining new clients. Free blogging platforms like WordPress and Blogger have created explosive growth in Internet publishing.
4. How do you get started as a guru? First, understand that generating new customers is an investment and should be measured like any other investment. Next, quit wasting money on less effective means like brochures and sponsorships. Rather than creating a brochure, start by writing how-to articles. Those articles turn into speeches and seminars. The best marketing investment you can make is to get help creating informative websites, hosting persuasive seminars, booking speaking engagements, and getting published as a blog columnist and eventually a book author.
5. Please know this: the universe rewards activity. Start by being curious and asking customers about their FUD: fear, uncertainty and doubt. Gather information on how to solve those worries and concerns. Be the expert who educates prospects on how they compare to their peers and the best ways to overcome their obstacles. The more prospects you inform how to solve their problems in general, the more will hire you for the specifics. Of course, Drucker said it best. In the words of the man whose work influenced Winston Churchill, Bill Gates, Jack Welch and the Japanese business establishment: "My greatest strength as a consultant is to be ignorant and ask a few questions."
The world needs more business gurus. Unfortunately, many sales people who learn this truth find the idea of writing and speaking too daunting, and even mysterious. Most feel this is only for a select few mega-minds like Drucker, but that is a miscalculated view. You don't need to write more than three-dozen books and have them translated into 30 languages like the father of modern management did. Just becoming a local guru can work wonders for your lead generation.
www.cbs.com
SME BusinessLink Magazine coming soon, don’t despair
SME BusinessLink Magazine has been slightly delayed by production and logistical challenges, but it’s definitely on the way and should be available before 15 March. Apologies to those who have been waiting for it.
The magazine will be available for free to BusinessLink Gold Club and Young Entrepreneurs Club members.
The March issue carries some very useful content that will help you accelerate your growth in business.
The contents includes: Grow to the next level: step up from business ownership
to entrepreneurship
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The test of a true entrepreneur How I did it: interview with a successful entrepreneur Learn how to sell more: go to the source 6 Profitable businesses you can start in Zimbabwe for $100
Don’t miss your copy
Don’t miss this month’s breakfast meeting on 30 March, with Simon Bere
Please diarise this month’s breakfast meeting, which will be on Friday 30th March, from 0815-0945.
The presenter will be Simon Bere, a guerrilla marketing practitioner and breakthrough goal achievement coach, trainer, speaker and consultant.
Since 2006, Simon Bere has been providing a wide range of innovative solutions to help business leaders and their teams to solve complex business challenges, to maximize human potential and to get more financial value in their commercial ventures. Through his training, consulting, speaking and coaching, Simon Bere has created significant impact in many organisations. Some of his top clients have received business awards for being outstanding in business while their businesses have gained market share and brand recognition over time. Simon Bere’s business and organizational solutions have earned him respect among some of Zimbabwe’s top entrepreneurs and business leaders, leading to some of his clients have naming him “Zimbabwe’s Napoleon Hill.”
Simon Bere holds a Master of Science Degree from Lancaster University, A Bachelors Degree from the University of Zimbabwe. He is an internationally certified NLP Practitioner and Trainer.
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Simon Bere’s breakthrough strategies helped two local companies to secure a franchise deal from a South African leading real estate company. Here Simon Bere, 3rd from left, poses for photos with directors of Rawson Property Group and MD of one of the two Zimbabwean companies after the signing of the franchise deal in Cape Town, South Africa. Simon Bere Incorporated is in the final stages of diversifying into real estate as a result of this deal.The venue will be confirmed in due course, but you can make reservation by calling Christine on 0772 854 301 or sending an email to [email protected].
Win Free Tickets to BusinessLink Networking Breakfast
This month, like last month, there are five tickets to be won to attend the BusinessLink Networking breakfast meeting. All you need to do is ask five of your friends or associates who are interested in business growth to subscribe to this free newsletter. They just need to send an email with SUBSCRIBE on the subject line to [email protected] and mention that you referred them.
PLEASE SHARE YOUR STORIES AND WORDS OF ADVICE (AND YOU COULD WIN)
BUSINESSLINK IS YOUR CLUB. Your stories and experiences will provide inspiration and motivation to other entrepreneurs and those thinking of starting a
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business. Your words of advice will help others to learn better ways of solving problems and avoid repeating some common mistakes in business.
Please share them by either sending me an email, [email protected], or posting them in the comments box on our website, http://smebusinesslink.com.
The story of the month will win the contributor a ticket to the “Creative Marketing for Exceptional Results” half day seminar set for March 22 at the Holiday Inn, Harare.
(Winners will be judged entirely at the BusinessLink team’s discretion)
BusinessLink Networking Club is branching out from Harare
We have received a number of requests from entrepreneurs outside Harare who want to take part in BusinessLink events.
Our team is excited by this interest and will be very glad to have events ion other centers. So far the most enquiries have come from Mutare, Bulawayo, Masvingo and Victoria Falls.
To help us set viable events, I request those who are interested in participating in the monthly networking breakfast events in their centres to send me emails stating so. We need a minimum of fifteen participants in order to host a viable event.
If there are enough numbers, then we propose to have three breakfast meetings in April, as a start, in Bulawayo, Mutare and Masvingo.
Please let me know what you think by emailing me [email protected].
South African Companies are looking for business partners in Zimbabwe
The South African Department of Trade and Industry through the South African Embassy in Harare will be sponsoring a delegation of 33 South African exporters and
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3 investors to Zimbabwe during the period 26-30 March 2012. This delegation will be lead by the Deputy Minister Elizabeth Thabethe. The delegation comes from the four corners of South Africa. The firms have traceable trading history as commissioned by the Department of Trade and Industry (The dti.) of South Africa. The entities are ethical in conducting business, for example, certification by the International Standards Organization.
INTERESTED? If you are interested in seeing the companies profiles, please request the brochure SA COMPANIES PARTICIPATING AT ITI MARCH 2012, from the SA Embassy Trade section on email [email protected]. To book for an appointment: Contact the Trade Attaché at the South African Embassy in Harare, Adriaan Adams on e-mail: [email protected] or 04 251843-52 Extension 222For more information please contact our office on the numbers listed below. Regards Adriaan AdamsCounsellor (Economic), Economic Section, Embassy of the Republic of South Africa7 Elcombe Rd Belgravia, HarareTel: + 263 4 251 843-52, Ext 222Fax: +263 4 753185Email: [email protected]
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