by Amogelang Nawa | Nov 28, 2019 | Gamers Reflections
Sipho:” I hear you Madimetsa, but is a business plan still relevant at this day and age?” Madimetja: well…. absolutely, if you fail to plan you plan to fail and besides the bank requires a business plan and without one forget about receiving a cent from them. Sipho:...
by Amogelang Nawa | Nov 20, 2019 | Gamers Reflections
A business plan must be prepared by the entrepreneur themselves because it’s their responsibility, they are the decision maker, it needs to reflect their goals and business model. The entrepreneur may seek assistance on certain areas; however, they need to be...
by Amogelang Nawa | Nov 18, 2019 | Gamers Reflections
Sipho went ahead and identified a credible accountant: Madimetja. He also came across Growth Accelerator Masterclasses ad on social media and enrolled (and paid) for all 5 of them. He set up a meeting and met with Madimetja. Sipho: “Hi Madimetja, thank you for meeting...
by Amogelang Nawa | Nov 16, 2019 | Gamers Reflections
It is commendable that Sipho wants to do things above board and realised the importance of empowering himself with money management (financial management and accounting) skills in order to achieve his goals and grow the business.Sipho should however guard against...
by Amogelang Nawa | Nov 14, 2019 | Gamers Reflections
Sipho went to the local bank and met with one of the bankers who informed him of the business loan application requirements (business plan, bank statements, cash flow projections and security). Sipho quickly realised that without financial management skills his...
by Amogelang Nawa | Nov 12, 2019 | Gamers Reflections
A bank (and other funders) will require a business plan, bank statements, cash flow projection for at least the next 24 months, security/collateral (personal and business assets). Sipho seems to be having none of these. Sipho’s lack of (and non-investment in)...
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