Successfully turning your passion into a business
Do you have what it takes to make it as an entrepreneur? Mark Zuckerberg did. McDonald’s was founded by an entrepreneur and Coca Cola was launched by an entrepreneur. When you think of a famous company – there was an entrepreneur behind it. Before you take action about setting that business idea in motion, take time to get expert advice.
Success tips for entrepreneurs from financial experts
This past Monday on Geldhelde, Momentum Metropolitan deputy CEO and CEO of Momentum Investments, Jeanette Marais, shared her expert advice on entrepreneurship. Catch Geldhelde every Monday on via DStv channel 147 at 19:30.
Entrepreneurship versus employment
Entrepreneurship is not for everybody. You need to understand your own risk profile and propensity to handle risk. Your creativity can also be natured in a company. Most big corporates like Momentum are always looking for innovative individuals that have an entrepreneurial attitude.
If you decide to embark on the entrepreneurial journey, make sure you have a solid business strategy and a financial plan. Get expert financial advice on creating a business plan and financial goals for your business.
How do you know if being an entrepreneur is right for you?
There are certain characteristics that entrepreneurs have that set them apart from others. And while they don’t always guarantee business success, they do lay the foundation for risk-taking. Entrepreneurs have lots of bosses - they call them customers. They value their independence and want to run their own lives, their way. Because business has it’s ups and downs, they’re frugal with their money. Most importantly, they enjoy being responsible for their success.
Minimise business risk. Get insurance cover
There are several challenges that can either make or break your business. At Momentum we offer comprehensive business insurance to cover your business against unforeseen incidents, loss or damage. Request an obligation-free call back and a financial adviser will contact you to discuss tailored cover for your business.
Jeanette’s top tips on entrepreneurship
- Some people are unrealistic. They think owning a business is the only way to be financially successful. Stats show that only 1 in 10 startup businesses in South Africa survive.
- Know your niche. Your current experience is a good place to start looking for your niche. Begin your journey while earning a salary.
- For a new venture to succeed, it needs to be centred around a solid business opportunity and plan. A financial adviser can give you an objective perspective and help with a financial plan to get you moving in the direction of stability and growth.
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EPISODE 5 | 22 MARCH 2021
Social media and your finances
Social media and the web can also be used as a source to empower yourself with information on personal finance and to grow your income. Next week Monday we’ll be exploring how to use these platforms to give you the confidence you need to reach financial success.