SMME’s need to adapt in order to survive – “keep your head”
With South Africa in lockdown to help reduce the spread of Covid-19, many small business owners and entrepreneurs face an uncertain future.
While “business-as-usual” is no longer possible, Pretoria-based entrepreneur Albert van Wyk – who became a self-made millionaire at 22 – says there are ways to keep going, but it’s going to take creativity, hard work and a lot of grit.
“We need to adapt in order to survive,” says Van Wyk, now 27, who started a range of small businesses while still a schoolboy, before journeying into property investing, and is now passionate about helping others succeed in the business world.
“We need to stay positive and use our entrepreneurial spirit to think innovatively of ways to keep our businesses running for the people and communities that depend on us,” he says.
Inundated with calls from entrepreneurs and business owners, Van Wyk has developed a number of practical tips to help small businesses survive during this period.
His first tip is to create a “remote working environment, using smart tools”.
“There are a number of software tools that are freely available. These include remote management programmes like Trello and Toggle where you can schedule and manage your employees’ tasks, projects and calendars – and keep track of their progress.
“You can use Google Drive or WeTransfer to share files. Google Drive also allows your team to work remotely on the same files, which are cloud stored. To communicate with your team, set up WhatsApp groups. They’re great for video calls and quick updates.
“I use all these tools when I need to be away from my businesses, and they work very well for me.”
Van Wyk’s next tip is to go online.
“Now, more than ever, it is important to take your business online. Your clients can’t leave their homes, so the only way to reach them is through their computers and phones.”
Van Wyk gives talks to schools and also presents the “Young Entrepreneurs / Young Millionaires” course to young people – but because he can no longer go to them, he has moved all his talks online.
“Artists and other speakers are moving their physical talks and performances to webinars and ‘live-streams’.
“If you have a retail store, convert it to an online shop on your website. Give your current clients incentive to use the online store by giving them a 10% discount on products or to offer free shipping to their doorstep, as soon as you are able to do this.
“You can provide online advice, products, content and services to pull your business through this tough time. Even if you don’t make a lot of profit, this can still help you to at least break even and survive this pandemic – or perhaps give you more exposure so you can make a strong comeback.”
But above all else, says Van Wyk, you need to “keep your head”.
“A lot of businesses will close their doors in the next few months. The only question is: will you? How tough are you? How hard can you fight back? What can you do today to keep your business going? How many hours can you put in and how much extra effort can you put in to survive this?”
Van Wyk says business owners need to change their business model if necessary, keeping a close eye on their expenses and overheads while being creative about their income.
“It’s widely believed that it takes 21 days to break a habit or even build a new one. Let’s use our time efficiently and productively to build new habits, plans and strategies and create new income streams.
“Businesses will close and others will open. Some will make money and other will lose money. The story you are going to tell after all this is up to you.”
Alan Straton
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