Episode 7 Epic Wins Crunch Time

Have you ever thought about how much you'd like to say but never knew where to begin? Well, Neon Bloom Productions is the place for you. They provide services like podcast production, vocal training, translation and consultancies. They've produced a number of super diverse and up and coming podcasts within Africa. Go to www.neonbloom.co.za for more information and awesome podcasts including, including this one, that is www.neonbloom.co.za Neon Bloom Productions. We make your voice heard. Hi everybody. Welcome. Welcome to my podcast, Black Woman Business. Today we're doing episode seven. And really, guys, I've been dying to do this episode, really, because this one is something that I really love. It's epic wins. Crunch time. Time to slam dunk. Oh, that's my favorite. That's my favorite season and I think I've been quite good at this one. So we're going to be discussing this under a couple of head. I'm just going to mention them quickly. First heading is a lot. Second one is start. Third is pride aside. Reject rejection, service openly. Be selective on opportunities over. Deliver scams, Remove yourself from the idea, discover other ways of making money and then make your time count. And last but not least, finances. Be friends with the bank, guys. Be friends with the credit score. Okay, let's get going. The first one a lot, guys, I'm sure in the past and all the other episodes, I've been talking a lot about how I've been so unfortunate, where I've lost out on a lot of opportunities, been quite a few misfortunes, obstacles getting in the way, doubtful times a lot. Failures a lot. We've spoken about that quite a lot. But one thing that I think I didn't mention is that I've also had quite a lot of wins. I've had some staggering wins, guys, really. But now what I think is important is to see that from both sides, there's one word that is common. It's a lot. Which means that it's good for us to put ourselves out there a lot. Put yourself out there in every way, in different ways, with different partners, with different products, even trying different things and testing them out a lot. It works, guys. It works. Why? You make mistakes. You, you, you know what doesn't work? And this helps a lot. And then you know what? In doing that, for me personally, I've come to the point whereby even if there is a failure or there is a disappointment, there's always something else that is there to celebrate. That's what a lot helps with. Because while you're getting frustration on the other side. You're also getting good news on the other hand. So putting yourself out there as much as possible is something that really, really helps. And this idea of holding on one idea, holding on to it and waiting for that lottery ticket number to be read out in that order. Oh my God, guys. It's a frustration because if that thing doesn't work, what now? I mean, I'm sorry, I can't die with a certain industry. My, my, my passion can't die because of, of COVID Say, for instance, if I'm do. I'm in a certain industry and now there's Covid, I can't proceed there. Now all of a sudden, what does Tulitu. Tul. No, never ever. I know there's quite a few people that are against this one. I've got a mentor that is close to me that really doesn't like this one. They believe that you must choose one thing and focus all your energy on it. Yeah, good and right. But I feel like the more you, you realize what is there not working, you're getting closer to your sweet spot and you can just let go of things that doesn't. That don't work, you know, and getting closer and closer to your true calling and to your true sel. Okay, let's move quickly. The second one that I want to go to is start. Oh, I was. Oh, for me, this one, I think I feel it's a big accomplishment because we've got all these brilliant ideas on starting the business one day. One day maybe one day after a pension. It's got a nice little corner in your brain. Yeah, I'm gonna start. I'm gonna start. But to actually implement and execute, guys, that, that for me is credit to even start. And we have had this conversation before, you know, and for me, there's a funny story where when I had just started, obviously I had completely missed my starting point because I. Because my background is in engineering. So I started off selling valves and pipes and technical components. Guys, when I started this, I had every intention of capitalizing the market, but it never worked. I've never sold a single valve in my life. With that being said, my first tender that I put documents together for and submitted for valves and pipes, I got awarded that bid. I got awarded that tender. It was a three year contract. But let me tell you, we have never had an order placed under that contract award. So valves have never been ordered. Even though I was calling the client constantly saying, okay, don't you want to order now don't you want to order now? For an entire three years, until the contract ended, there was no order placed. So, you know, also these instant gratifications. It was like a casino win where the first day you walk into the casino you win. But all the other days are going to be a loss because what follows is the next thing which is being selective of which opportunities that you go for. I think I'm starting to really master this one. And it's all because of this example I've just mentioned with the tenders. You know, I thought tenders are really a winning game. But for me, no thank you guys. No thanks for the tenders. There was a beautiful time for tenderpreneurs. There was a beautiful time where tenders worked. But with the corruption and what the stuff that is going on right now, really. But for me, even worse, I learned the hard way because just after, just after I. I resigned from corporate, I took most of my pension money and I invested, let's say 80% of it in tenders. Submitting tenders. 50 page or what? Hundred and something page documents. You have to make five copies. Submit courier, also have that on a cd, have it on a usb, flying from pillar to post for clarification. Meetings, compulsory meetings, all a waste of money. So because of this I'm very selective of my opportunities. What really works for me now, guys, in all three departments, mostly I seek out RFQs, which are called requests for quotes and make sure that I am on databases of most of government institutions, but not any government institutions, guys. Government institutions that are not really well known, you know what ones that I've tended to before and the ones that come up on the news often, guys, stay away from that. You don't want to do work and people don't pay you. That is the worst position ever. It's rather, rather get rejected. So I mean being selective on the opportunities is a good one. Like for instance, I was still saying about the RFQs and the databases. You look out for those government institutions that are not explicitly advertised, like Department of Astronomy, there's a perishable Goods board. You search them and you find out who's the people on procurement. You register yourself on their databases. So you do receive RFQs. There is a downside about RFQs. Firstly is that there's so many scams out there. So you can receive an RFQ and you think it's the real thing and it's not okay. So that one is a big one. And also another thing is with RFQS they usually offer small value, so you must do a lot of them at a time. The perk about RFQs is that the turnaround time, the response time is quite quick, maybe about two weeks, you have your response and you know whether you've got the bid or not, and then you already move on. And the paperwork, I mean, It's a mere 20 pager. And you email it. Usually you email RFQ. So it's actually a very easy, easy way of doing business if you want to get into the government space. Okay, guys, moving along, pride aside, let's place our pride aside. When we are doing business, when we are throwing ourselves out there in the world and doing a lot, you know, sometimes you just want to be that person that's be like, no, guys, not here, not here. You must open your mouth and speak. Speak about what you're doing, Tell people what you are doing. Try to engage with people, network with people. You. You can't be standing there far away. And also when people are giving you funny vibes, you know, like, funny vibes like, stay away from me. Don't. Don't be offended. Don't be offended. Like, I'm gonna move on to the next one now. Reject rejection. If a person. Because there's these random people, guys that will just reject you for no reason. You haven't even explained what you're doing. They are just be rejectable. Be rejectable and also check them back. Even if they're not looking. If they're blocking you, block them back. You know, why these people out there looking for you? There's people out there looking for your stuff. So you can't be wasting time chasing people that don't want you. You know, stay. Stay positive about yourself and just understand they're not in a space where they're not in a space where they want to accept whatever that you are giving. You know, I've had this happen to me quite a few times. Hey, it's. It's painful, guys. It's very painful because I rem. Started my company. I had just left one of the technical places that I worked with at and my colleagues that they knew exactly like that I wanted to start a business and I was going to do. But all of a sudden when I had resigned, people, they don't even want to wave at you. They. They think waving at them is kind of like corruption because they work in procurement and people start doing strange things. So move away, you know, move away. There's people that are looking out there for you. Stay with them and Also service openly, guys. Service openly. What I'm trying to say is keep an open mind. Don't try to be selling this thing in Google to Olanga or you think it's going to end up there. Sell it to the world, market yourself to the world. This one I think I've done quite well because I've serviced quite a few international companies and I'm still doing so with pride. I'm very excited about that was pretty easy for me. I'm gonna say this again. LinkedIn is a plug, guys. LinkedIn is a plug. You can literally have a one on one conversation with, with a CEO of an international company. Listen, if that guy doesn't want to speak, move on. There's lots of CEOs in the world, you move on to the next one. But I can tell you genuinely, these people, they want to talk, they want to talk about what are you offering, what are you doing? You know, also you're going to be very enticing when you come, when you're talking about your products and your offerings. This has worked well for me and that's how I've able to engage with internationals which I still do business with till this day. And then another one over delivery. Oh, I must have this one. You know what, my customers can just come forward and speak here because listen, you don't have to talk too much about how you're going to over deliver. Don't talk too much about, oh, we're going to do the. No, no, no, stay in your lane. Let them make assumptions. They're looking at you now. Oh, this sissy. Oh this is. They don't even know you're qualifications and they're just looking at the way you, you, you appear. And all of a sudden they've made us a few assumptions. It's okay, it's okay. Those ones are the best ones because you're definitely gonna surprise. Then you over deliver, guys. You take it over to the top, you put sprinkles on it, you put an extra gift, you know, in a surprise goodie bag, you know, you just go all out and it works, it works guys. You do it on time, you do it with the highest quality and you do this one. Ah, no, it's really, really worked. And then also another thing that has really worked well and I think it's quite an achievement is to be able to remove yourself from an idea when it doesn't work. To be able to remove yourself from a situation when you see that no, this money is not growing here. You know, this money Will grow better if I do this. People like to hold on to that thing. Yeah, you remember Nandine, you remember Nandi, my friend going on about the passion. Very nice with passion, very nice. But I'm telling you guys, you if you're just gonna work at your passion and you see that this thing is failing and you still don't want to unplug your money, you're gonna lose all your money on it. Listen, the paraffin next door is busy selling like hotcakes. People are getting lost coming into your house, coming to buy paraffin next door. Paraffin is already finished and you busy making candles because you love candles. Skills, guys, you are wasting. Move that money, sell your paraffin, partner with your neighbor. I'm just making a typical example here, but yeah, actually I've also sold a paraffin with, with an employee of mine. We partnered because she was staying in a place where they really needed. So I'm just saying keep an open mind, guys. And also people love when they've fallen in love with the idea, they don't want to let go. Like this one, I've learned from my husband. We just don't attach ourselves to material things. Even property, even property. Property that we've lived in. If we see that this property is really not making money right now, we see that a few squatter camps are popping up from across. Even if we were renting it out and getting good, we leave, we live and plow that money somewhere else. Sell. Sell that thing. Sell that thing. Take your money, put it somewhere else. Don't be trying to make love to an idea that is going to make your money go away from you. Stay away from that. Stay away from that. And then also, we're moving closer to the end now. We're moving closer to the end. And then also, oh, this one is a beauty, guys. For me it's done wonders. It's very recent, but it's a wonder. For me. There are other ways for making money other than just transacting the fact that you are a black person, woman, or even a man that is in South Africa. You are manufacturing. You are making something. Your candles, your soap, you are manufacturing. There are corporates out there looking for you so that they can support your business in the way of supplier development programs. Supplier development programs have meant so much for my company. I've had good, good, good assistance from big corporates, which is how we actually managed to set up the factory in such a short time. We were funded for that through supplier development and we had another corporate also funding Us through supply development. I'm not talking small money here, guys. I'm talking about hundreds and thousands of rents where people can really assist you and boost your company just because you exist as a company. But you must remember, you must put yourself out there and you must seek, actively seek these people. They are there. They are on LinkedIn, they're on Facebook, they're on Instagram. Hey, you, Facebook. We must just get away from that mentality of using these socials for just entertainment. Just boredom. Just like, like, like. Because you see, I don't know, three socks, whatever, you know, just boredom. You just be very deliberate on why you are going onto a social network and what you are seeking for. I went on there look for supplier development people. And then I look for the industries that would be key for the three departments that I have in my business, which is chemicals, IT and the other energy department. So with the three departments, I look for supplier development meant people in those spaces actively seek them out. And your conversation, how can I involve myself in your supplier development program? How can I apply? Guys, there's a lot of paperwork in this, which goes on to the next one that I'm gonna mention about finances, which is the last one. It needs a lot of compliance when it comes to paperwork. Your paperwork must be on point and they're forever requesting paperwork. But obviously you're gonna do whatever it takes if these people are gonna boost your business with five, with about hundreds and thousands of of rands. And also this supplier development come in trainings as well. Trainings, mentorships. It works. But then you must also look out. Oh, guys, there's so many scams out there. Like, there's one company that really tried to take me down with this one where they try to seek supplier development beneficiary. That's what they call us, beneficiaries. And then they will pay each other to give you training that doesn't have anything to do with your business or where you are, but they just trying to exchange money over your head. And basically you're being scammed for your signatures. You're being scammed for just being there. So that when they have to show. When they have to show that there was a person there. Yeah, no, it works. There was a person there. So this one is also quite a big one. But there's also ones that have a lot of value. I attended two of them early in the year and that's where I met Mamu Patience. Precious, Precious Vulane. She knows a lot about finances. And through that program, I learned Quite a lot. And there's another one actually I'm currently on. They've got quite a few masterclasses. I've also got mentors there, assistants through supplier development programs. It works, guys. It works. Let me move on to the next one. Friends with the bank. Friends with your credit score. Guys, I'm gonna do an entire episode on this one because it's very deep. It's very deep. And I'm also gonna do an entire episode on the scams and how to pick them up. Also because it's a big one with the supplier development thing. There's people looking, walking around saying that they want to assist your company. No, they just want your signatures. They're dying for your paperwork will be certificate so they can submit it and take you in. And then also with the finances. Oh, friends with the bank. I didn't know about this one until very recently. Like I said, from the supplier development program that I attended. Listen, it's pretty straightforward. It's pretty straightforward. Like I said, I don't want to be repeating myself. Guys, separate your personal money from your business money. Separate it. Pay yourself a regular salary. When they see money going into your account monthly, creditors are open to lending you money. Why? Because they can see that there is a consistency. Even if that money, you're going to circulate it back into your business bank account and say, yo, you know what, this is just another capital injection into the business or whatever. But you must just. It's kind of. It's like playing a game. It's like a playing a game, but it's a game you must play. Why this has done wonders for me, guys. You know, my husband and I have just been recently approved for our dream house. And it's because they see that we do have a steady income coming into our bank accounts. They had a thorough check at our management accounts and also audited statements that we got from my accountant. So I mean, guys, if you do that whole thing of moving your money properly, you know that for me is definitely a winner. That one is definitely a winner because you create a good relationship with the bank and you need a good relationship with the bank. Why? Because the company is growing. Guys, if you're selling shoes, shoes this week, next week you're still selling shoes. Next month you're still selling shoes. In six, in six months, you're still selling shoes. Let at least not don't be selling the same amount. Like your stock amount must not be the same. It must grow. And then by the time you get to your 12th month. You've innovated, you're selling other things as well. So it's very important that you try to extend yourself and go different ways trying to grow this. Don't stay there where you're going to be a big fish in a small pond and you know everything about your business. Try to stretch yourself. Stretch yourself for the next level. Stretch yourself for what is needed next. I know it's very tough. I know it's very tough. Actually, in actual fact, I'm also there, right there with you guys because we only had an office in the Western Cape and now Joburg, but now we're really going national. National in all the other small derpies as well, such as Nails Bridge, you know, all the other small places. So, you know, know, trying to stretch yourself is really, really important. And how you're going to do that is if you are able to access monies. Okay. I've just recently heard now there's also other ways to, to generate funding for your business that you can get through. All these places that fund businesses, they've got other models. It's pretty exciting. What is going on. Also, bottom line, guys, you must be friends with your credit score. You must be the way you manage your money. Don't let things bounce, man, from your business bank account. Don't let it bounce. Just rather don't have things that are deducting straight from there. You would rather have them deducting from your personal account. You want to keep that, that, that business bank account as squeaky clean as possible. So for me, that has been able to really done wonders. And those are some epic wins for me. Epic wins for me. I'm pretty excited and I'm excited, actually quite proud. And I really hope that this insert will also help you in your own way try to navigate through these things. Like I said, I will drill down to the finances, I will drill down to the scams and then, yeah, like I said, guys, I'm an open book. If there's any other things that you need to find out on how to navigate, I'm very open for the questions. I think we've done well. I'm gonna wrap it up it nicely. Wrap it up nicely. Otherwise guys, thank you so much. That will be it from me. Bye bye.