This question we need to ask is WHY, why financial literacy,why entrepreneurship

By YE Research

Why Entrepreneurship?

  • Entrepreneurship is a key driver of the economy. Yes, it is only through fostering a robust entrepreneurial culture that we will ensure economic growth, create jobs and accumulate wealth.
  • Entrepreneurship education teaches skills that are essential in the 21st century job market. In addition to life skills, these programmes foster workplace readiness skills in reading, writing, communication, problem solving, critical and higher-order thinking, technology, and math.
  • Entrepreneurship teaches kids about money. Everybody should be financially literate, because it will determine your financial practices in adulthood.
  • Kids exposed to entrepreneurship frequently express that they have more opportunity to exercise creative freedom and initiative, higher self-esteem, and an overall greater sense of control over their own lives.
  • Entrepreneurship education is a lifelong learning process, and we recognise the importance of nurturing the entrepreneurial spirit as early as primary school and progress through all levels of education.This lifelong learning model assumes that everyone in our education system should have opportunities to learn at the beginning stages, while the later stages are targeted at those who may specifically choose to become entrepreneurs.
  • Cultivating entrepreneurship in the young is vital, as children are born imaginative, energetic, and willing to take risks, but without entrepreneurial education, the enterprising spirit of children dramatically declines over time and is almost non-existent by the time they graduate from high school.
  • Kids should consider entrepreneurship as a career choice, especially in South Africa that has a youth unemployment rate of 50%.

Why Financial Literacy?

We are training the first generation of financially literate children in Africa. Not everybody’s going to be an entrepreneur, but everybody should be financially literate. Financial literacy is a base requirement like spelling or reading that everybody should acquire at any early age. When kids are taught the specific lessons of money management, they can not only apply their skills towards building a business for themselves, but they can also apply the skills they have learned to their personal lives. The financial habits you develop when you are young are going to go with you into your adulthood. Also, you can’t be an entrepreneur unless you are financially literate.

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7 must-know tips from successful entrepreneurs

Small business owners share hard-learned lessons from the trenches.

To give your company a hand, we've gathered proven tips from successful entrepreneurs.

Did you know that, according to the Small Business Administration, only a third of new businesses survive 10 years or more? What can you do to make your small business one of the thrivers? To find out, we asked entrepreneurs who have succeeded.

1. Love what you do.
The road to success is a hard one. But, according to Lisa King, owner of Brownie Points Inc., which sells gourmet brownies and holiday gift baskets, it’s a lot easier if you’re passionate about your business’s purpose. “If you don’t [love what you do], it’s hard to be successful,” she says. She adds that this helps you stay positive: “You need to maintain your optimism. Once it’s gone, you’re done.”

2. Build a team immersed in your vision.
“For me, it’s more than just hiring experienced people. It’s important to demonstrate the type of organization we want to be,” says Mike Mondello, president of SeaBear, which supplies fresh and smoked wild salmon directly to consumers. To bring to life the vision of building a seafood brand based on world-class, sustainable wild salmon, Mondello used a team meeting to showcase a fisherman whose way of catching fish resulted in a better end product.

3. Come up with innovative ways to solve problems.
Necessity really is the mother of invention. Just ask Robin Brocklesby of Creative Coverings, which rents specialty linens for formal events. When customers were having difficulty returning the linens they had rented, Brocklesby turned to UPS for a creative solution. The result was out-of-the box innovation: Return the linens in specially designed bags (with an estimated life span of 300 uses) rather than larger boxes.

4. Create a delightful customer experience.
Several components come together to win customers, and everyone at the company needs to know their own role in retaining customers. “It’s mission critical that everyone on our team understands how they fit into the brand and what they bring to the value chain that delivers a successful customer experience,” Mondello says.

King notes that shipping plays a vital role in her customers’ experience, particularly since Brownie Points provides a perishable product. “You need to know that you’re partnering with someone who can manage your shipments and make sure your packages arrive on time,” she says.

5. Quickly learn from your mistakes.
Mistakes are inevitable. The key is to learn from them – fast. A decade ago during the holidays, SeaBear outsourced its call center. Customer orders were soon riddled with errors. “When a customer had a need outside the norm, the call center couldn’t handle it with the customer care our own professionals could,” Mondello recalls. The solution? SeaBear immediately stopped outsourcing and personally contacted all the customers who were negatively affected. Also, the company has learned to test any new process during a quiet time of the year.

6. Rely on people smarter than you.
You can’t know and do everything. You must rely on others. “Surround yourself with people who know more than you do,” King advises. “I was a schoolteacher [prior to going into business] and there were a lot of things I had to learn,” she recalls. To fill in the gap, King selected vendors or has hired people who had the knowledge or skills she lacked.

7. Never sacrifice quality.
“The key to the success of any business is to establish a philosophy and have everyone in the business buy into it,” says Larry Sweet, founder and president of Save-A-Load Inc. The company manufacturers load bars for truckers and delivery companies for the cargo area to hold items in place during transport. Sweet’s philosophy of putting quality first has resulted in double-digit revenue growth since the company’s founding in 1993. The manufacturer stands behind its product quality by providing a lifetime warranty and relying on UPS to deliver its best-in-class product to customers worldwide.

Source Compass Ups

Seven Tips For Networking

Colleen DeBaise
Colleen DeBaise

But many of us dread walking into a room and introducing ourselves to a bunch of strangers.

I’ve been asked to share my best networking tips at a meeting today of the National Association of Women Business Owners in Philadelphia. Here are the most valuable tips I’ve come across – and put to work myself – over the years:

1. Resist the urge to arrive late. It’s almost counter-intuitive, but showing up early at a networking event is a much better strategy than getting there on the later side. As a first attendee, you’ll notice that it’s calmer and quieter – and people won’t have settled into groups yet. It’s easier to find other people who don’t have conversation partners yet.

2. Ask easy questions. Don’t wait around the edges of the room, waiting for someone to approach you. To get the conversation started, simply walk up to a person or a group, and say, “May I join you” or “What brings you to this event?” Don’t forget to listen intently to their replies. If you’re not a natural extrovert, you’re probably a very good listener – and listening can be an excellent way to get to know a person.

3. Ditch the sales pitch. Remember, networking is all about relationship building. Keep your exchange fun, light and informal – you don’t need to do the hard sell within minutes of meeting a person. The idea is to get the conversation started. People are more apt to do business with – or partner with – people whose company they enjoy.

If a potential customer does ask you about your product or service, be ready with an easy description of your company. Before the event, create a mental list of recent accomplishments, such as a new client you’ve landed or project you’ve completed. That way, you can easily pull an item off that list and into the conversation.

4. Share your passion. Win people over with your enthusiasm for your product or service. Leave a lasting impression by telling a story about why you were inspired to create your company. Talking about what you enjoy is often contagious, too. When you get other people to share their passion, it creates a memorable two-way conversation.

5. Smile. It’s a simple – but often overlooked – rule of engagement. By smiling, you’ll put your nervous self at ease, and you’ll also come across as warm and inviting to others. Remember to smile before you enter the room, or before you start your next conversation. And if you’re really dreading the event? Check the negative attitude at the door.

6. Don’t hijack the conversation. Some people who dislike networking may overcompensate by commandeering the discussion. Don’t forget: The most successful networkers (think of those you’ve met) are good at making other people feel special. Look people in the eye, repeat their name, listen to what they have to say, and suggest topics that are easy to discuss. Be a conversationalist, not a talker.

7. Remember to follow up. It’s often said that networking is where the conversation begins, not ends. If you’ve had a great exchange, ask your conversation partner the best way to stay in touch. Some people like email or phone; others prefer social networks like LinkedIn. Get in touch within 48 hours of the event to show you’re interested and available, and reference something you discussed, so your contact remembers you.

Source Entrepreneur Mag SA

Readers, what’s your best networking tip?

 

 

Allan Seccombe profile

De Beers tailings operation up for sale

by Allan Seccombe, 21 May 2015, 11:28
 
Allan Seccombe
De Beers tailings operation up for sale

DE BEERS has put its operation to recover diamonds from tailings at Kimberley up for sale, seeking to extend the life of its second-largest source of South African diamonds beyond 2018.

“In the past decade the mine has taken steps to sustain the operation and succeeded in maintaining production in economically challenging times,” said Phillip Barton, the CEO of De Beers Consolidated Mines, the South African division of De Beers.

“It is encouraging that our work, to date, in considering all options, has shown that Kimberley Mines may not have to close in the near future,” he said, adding its life could be extended into the next decade, possibly up to 2030, in the hands of an experienced operator.

“The asset has a superb team of managers and operators, and we are keen to offer the mine as a going concern to facilitate a greater degree of job security,” Mr Barton said, adding the short life asset no longer fitted the De Beers or Anglo American concept of large, long-life mining assets.

Anglo owns 85% of De Beers, the world’s largest producer of rough diamonds by value.

De Beers wants to reach a sales agreement “in a matter of months,” he said, saying De Beers wanted to avoid depleting the diamond resource through unnecessary delays.

The five tailings assets have a resource of 2.4-million carats at an average grade of 10.8 carats per hundred tonnes. There is an additional inferred resource of 93-million tonnes of tailings which have an average grade of five carats per hundred tonnes.

De Beers is talking to its employees, unions and all levels of government about its plans and proposed sale.

Kimberley delivered 722,000 carats last year. De Beers expects the operation to generate 2.4-million carats by the end of 2018.

De Beers will retain the Venetia mine in Limpopo where it is undertaking a R20bn project to develop an underground mine, and the Voorspoed mine in the Free State.

May 21 2015, 11:28
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Picture: THINKSOC

“In the past decade the mine has taken steps to sustain the operation and succeeded in maintaining production in economically challenging times,” said Phillip Barton, the CEO of De Beers Consolidated Mines, the South African division of De Beers.

“It is encouraging that our work, to date, in considering all options, has shown that Kimberley Mines may not have to close in the near future,” he said, adding its life could be extended into the next decade, possibly up to 2030, in the hands of an experienced operator.

“The asset has a superb team of managers and operators, and we are keen to offer the mine as a going concern to facilitate a greater degree of job security,” Mr Barton said, adding the short life asset no longer fitted the De Beers or Anglo American concept of large, long-life mining assets.

Anglo owns 85% of De Beers, the world’s largest producer of rough diamonds by value.

De Beers wants to reach a sales agreement “in a matter of months,” he said, saying De Beers wanted to avoid depleting the diamond resource through unnecessary delays.

The five tailings assets have a resource of 2.4-million carats at an average grade of 10.8 carats per hundred tonnes. There is an additional inferred resource of 93-million tonnes of tailings which have an average grade of five carats per hundred tonnes.

De Beers is talking to its employees, unions and all levels of government about its plans and proposed sale.

Kimberley delivered 722,000 carats last year. De Beers expects the operation to generate 2.4-million carats by the end of 2018.

De Beers will retain the Venetia mine in Limpopo where it is undertaking a R20bn project to develop an underground mine, and the Voorspoed mine in the Free State.

Source Business Day Live

10 Reasons why being a Young Entrepreneur Rocks

By:     Topics: Blog,Young

EntrepreneursEntrepreneurship is a key economic driver. Wealth and a high majority of jobs are created by small businesses started by entrepreneurially minded individuals, many of whom go on to create big businesses. And in 2015 a large majority of small businesses are being started by young entrepreneurs under the age of 30.

Being Young and In Business Is Great

Press – Being young and successful will always be an interest to people. Take for example Carl Ocab, his website is one of many in the making money online niche but because he has been making money online since he was 13, he has people blogging and talking about him almost every day. The same can be said about RetireAt21.com. I find it quite easy to create link bait with interviews, lists and blog posts. However, if I was to do similar posts about middle aged entrepreneurs, I wouldn’t have anywhere near the success as I currently do.

Energy to Work – “The biggest challenge for a blogger is finding the energy to keep going – luckily, young people have plenty of that.” Pete Cashmore

Money – The best thing about being young and running a business, everything you earn you can put back into your business. Some of the youngest online entrepreneurs still live at home and pay little or no rent, and also do not have large expences for food, cars etc…

Time – Your young, you got no responsibilities, no 9-5 job, no kids to look after, get out there and become rich!

Opportunities – A lot of large companies today want to know what teenagers want. You are a teenager and you know what you want – get out there and make a name for yourself, maybe even end up consulting for these larger companies.

Support – There is a lot of support out there for young entrepreneurs, such as; Young Enterprise, Young Presidents’ Organization and The Prince’s Trust in the UK

Financial Freedom – While all your friends are earning $5 an hour at their local super market, you’re earning $50 an hour while you sleep. You have the financial freedom to do what you want, when you want

Parents – If its all goes wrong, your still young and can fall back onto your parents till you get yourself up and running again. (Maybe?)

Internet – We are the internet generation, when our parents were young they didn’t have the opportunities we had. Starting a business online is 10x easier and more profitable then starting a business offline.

Fun – We often run our business’s at such a young age because we find it fun, we are working for ourselves, no responsibilities or boss.

Source Retire@21

 

 

21 Businesses You Can Run From a Laptop

By:     Topics: Making Money Online

 
 
 

Maybe you’re a young kid who wants to start a business.

Maybe you’re a college grad who wants to create a job (rather than finding one).

Or maybe you’re a corporate mouse who’s fed up with the rat race.

In any case, the internet has opened up a world of opportunities for the entrepreneur-at-heart.

We’re about to look at 21 businesses that you can start today and efficiently run with just a laptop and an internet connection.

21 Businesses You Can Run From a Laptop…

Development / Programming

Web developers are programmers who specializes in, or are specifically engaged in, the development of World Wide Web applications, or distributed network applications that are run over HTTP from a web server to web browsers.

Web Programming

#1 Web Developer

According to SBA.gov, there were 29.6 million small businesses in the US and Ad-ology found that 46% of small businesses don’t have a website.

If you’re a skilled developer / programmer, be sure to apply for AwesomeWeb.com to increase your exposure and earnings today.

#2 Mobile App Developer

There were 140 billion mobile apps downloaded to smartphones in 2014. By 2016, the International Telecommunication Union reports that there will be more than 2 billion smartphones in the world and we have every reason to believe the number of mobile apps downloaded annually will increase.

You can hire a great mobile app developer here.

#3 Blog Maintenance Provider

As tracked by BlogPulse, there were 126 million blogs on the internet in 2010 and most of them suck.

Most bloggers think they just have to write, post, and auto-tweet. So if you know how to properly publish a WordPress blog post, you can offer this as a service to serious bloggers.

Check out our Step by Step Guide to Writing Posts That Rank.

Graphic Design

Graphic designers create visual concepts, by hand or using computer software, to communicate ideas that inspire, inform, or captivate consumers.

graphic design

#4 Logo Designer

Since there are 29.6 million small businesses in the US alone, that’s 29.6 million potential logo customers. But most of them already have logos… But very few of them have good logos.

Check out 17 Evolutions of Your Favorite Logos

#5 Web Designer

According to Pingdom, there are 234 million websites on the net. Like small business logos, most of these websites look terrible. And even the good ones, know the value of continually improving the design.

These are the 15 best practices for responsible responsive web design.

#6 Book Cover Designer

Right now, there are over 32 million books on Amazon and every one of them has a book cover. According to UNESCO, over 1 million books are published per year. This doesn’t even include eBooks.

If you’re not a skilled designer but feel you could create your own book cover nonetheless, check out youzign.

#7 Mobile App Designer

Much like mobile app developers, there’s plenty of need for mobile app designers. Companies usually contract out to both developers and designers separately to create the app.

Here are 30 great examples of mobile app design.

#8 Computer-Aided Designer

CAD drawings are typically 3D mockups and virtual prototypes that companies create prior to manufacturing a product. Pretty much every product design starts as a CAD drawing.

These are 10 free CAD software applications you can download.

#9 Web Theme Designer

According to WordPress.com, there are over 75 million WordPress sites and about half of them are self-hosted. This means, WordPress alone has about 37 million sites that need themes.

If you’re not a theme design but still need a great theme, ThemeForest has the best selection of high quality, responsive themes available.

#10 Videographer

Last year Organizational housewares e-tailer StacksAndStacks.com reported visitors were 144% more likely to purchase after seeing a product video than those who didn’t. Website owners realize that video converts higher than any other form of content, so they’re starting to contract out for that work.

Here’s the Ultimate Guide to Making Online Video Tutorials.

Writing

Writing jobs in select niches might be difficult to find on your own, but Online Writing Jobs takes the reins, marketing your name to companies that need an expert.

text boss

#11 Author

According to Authors Guild, a successful fiction book sells 5,000 copies and a successful nonfiction book sells 7,500 copies. Also, Jenkins Group (a premier publishing firm) reports that 70% of books published don’t make a profit. Don’t let these stats discourage you, but it’s hard to make a living as an author.

Whether you’re a writer looking to make extra cash or a blog owner in need of content, check out TextBoss.com for all your writing needs.

#12 Editor

Part of the reason books usually don’t earn back their investment is because they have to pay for an editor. You’ll likely earn more as an editor than an author.

There are currently more than 2,000 content editor jobs available on linkedin alone.

#13 Copywriter

With 126 million blogs, there are 126 million websites that constantly need content. If you’re a good writer and knowledgeable about a niche topic, reach out to the top bloggers in that niche and ask if they’ll pay you to write for them.

These 200 top blogs accept guest authors – and many of them pay for content.

#14 Transcription

According to Worldwide Freelance, some industry estimates suggest that up to 50% of all non-fiction books are ghostwritten. Often, these books start as audio recordings and the ghostwriter transcribes and spruces up the content. This is just one way to make money as a transcriber.

Alternatively you can create a software or service that does it for you, like this.

#15 Translation

English is the universal language of business, but there are roughly 6,500 other languages in the world. Books, websites, manuals, etc. all need to be translated to other languages.

Google also offers a free translation service if you’re in a hurry.

#16 Blogger

Much like authors, few bloggers make a living strictly from blogging. To attract advertisers, you typically need a couple thousand unique visitors per day. Think of a blog as a platform to attract other business opportunities.

See how Tracy Raftl became a full-time blogger in under a year.

Internet Marketing

Internet marketers utilize advertising and various marketing strategies leveraging the Web and email to drive direct sales via electronic commerce, in addition to sales leads from Web sites or emails.

IM

#17 Search Engine Optimization

234 million websites compete to rise to the top of search engines. If you know how to optimize websites, you can help website owners save a lot of money on internet advertising.

Discover the 25 SEO Tools for Successful Blogging.

#18 Search Engine Marketer

The other side of search engines is paid search. It’s not unusual for internet marketers to have $500,000 per month budgets for PPC (pay-per-click) and CPM (cost-per-thousand-impressions) advertising.

Find customers through paid channel advertising.

#19 Social Media Manager

You probably know enough about social media right now to start your own side business! A service that helps people set up their Facebook, Twitter, and Google Plus profiles and begin to create authentic interaction is completely legitimate.

Check out this video and see if you’re not convinced that a new social media side project is perfect for you.

#20 Email Marketing Manager

Michael always tells you that the money is in the list, but it takes a lot or work to maintain that list. If you offer to create and automate the email newsletters, it’ll take a lot of pressure off their backs.

Here are 10 ‘fill in the blank’ email subject lines that made us the most money.

#21 Affiliate Marketer

To date, ClickBank alone has paid out more than $2 billion to affiliate marketers. Affiliate marketing is another way to make a living as a blogger and it’s the primary way that Michael makes money.

Here are 5 reasons to start an affiliate marketing business today.

So what…

I know I gave you lots of big stats and that can be overwhelming.

To put it into perspective, Michael has partaken in or hired out at least 14 of these 21 services; this includes over $30,000 on web design updates to IncomeDiary.

There’s a lot of money to be made on the internet. If you have a laptop, an internet connection, and a working brain, the only thing holding you back is you.

Source Retire@21

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