Nikki’s Tip of the Week – week-ending 22nd April 2017 & Upcoming Events
For many, the period over the Easter holidays, which are closely followed by the next two public holidays, money becomes extra tight. A month with fewer working days coupled with school holidays is a sure recipe for spending money that was not budgeted for or even in the extreme, money that you do not have.
If you are struggling with or are in the midst of a “Cash Flow Crisis”, this does not bode well for getting yourself out of the mud (so to speak), but don’t stress - help is at hand. Following the next segment will at least assist to get you back on track.
For those who have been away - travel home safely.
Here’s the deal . . .
Please feel free to engage with me, or not. Please feel free to send me your own snippets of information, early warnings, appropriate funnies and what have you, to share with other like-minded individuals, entrepreneurs and start-ups.
I hope and trust that you will enjoy the journey with me.
This weeks’ Blog:
BUSINESS TIPS – How to Manage Your Cash Flow Crisis – Part 4
By Nikki Viljoen – Viljoen Consulting CC
In the last 3 articles we have looked at and dealt with the fact that there are only 3 reasons why you will find yourself in a cash flow crisis. To remind ourselves, there were:-
1. You’re not making enough money.
2. You are not getting your debtors to pay you and
3. You are spending too much money!
We also looked at the first step that should be taken and that was to get clarity on what you owe and what is owed to you and we did this by means of a debtors and creditors aging analysis.
Then we looked at cutting costs, discussed putting a budget together and then making arrangements with your creditors to pay what you owe.
This time we continue with some things that you can do immediately to help alleviate the situation.
Remember in part 2 we discussed the importance of knowing exactly what you owe and what you are owed.
Now it is the turn of your clients who owe you money (or your debtors as they are known) to get sorted.
This is where you have use every single communication medium that you can to communicate with your client. So you can phone, or e-mail, or SMS and even ‘WhatsApp’ them or use all the different types of social media communication to contact them. You see, you have to communicate with them and continue to do so until you have been paid in full.
It’s always a good idea to make notes on who you have spoken to, mailed, sms’d etc. Record the date and time, who you spoke to and what was said. If for example they said that they would pay on Wednesday the 12th, make a note to remind them that they have promised to make a payment. When they pay, contact them again to a) thank them for making payment and b) to get a commitment for the next payment. If they don’t pay on the due date, of course you need to contact them to a) find out why they did not make a payment and b) to get them to make another commitment to pay. Be friendly but firm in your dealings with them and make them understand that they do have to pay and pay sooner rather than later.
For money that has been outstanding for a long time (for me that is anything over 60 days, but you need to make this decision up front), the reality is that you have to take the emotion out of the situation and get tough with yourself. Hand them over to the attorney for collection. The reality is of course that many of them are in all probability, dealing with their own cash flow problems. So being empathetic with their plight will stand you in good stead. That said though, you still have to deal with your own cash flow crisis – so get them to pay up, or hand them over.
Finally for today’s lesson, remember that you cannot expect your clients to pay you or be honourable with you, if you are not being honourable with your suppliers. You need to do to others what you want done to you!
Be honourable yourself. Let your words be congruent with your intent and as your receive the money pay out what you owe – even if it is before the due date.
Next time we will look a bit more in-depth at how to take back control of your “in crisis” cash flow.
Nikki is an Internal Auditor and Business Administration Specialist who can be contacted on 083 702 8849 or [email protected] or https://www.viljoenconsulting.co.za
Look what is happening at Viljoen Consulting.
Viljoen Consulting in conjunction with ROCCI (Roodepoort Chamber of Commerce & Industry) and Business Engage bring you the following workshop.
Starting a Business?
Want to know how to run a business?
Then This Is The Place to Start!
A Large Percentage of New Businesses Fail, Learn Highly Practical Skills That Will Give Your Business a KickStart.
A Basic Practical Guide To Starting and Running A Business
· Get started in the right direction to ensure transition from wannabe to business owner
· Ensure maximum productivity and minimum effort.
· Get your processes and procedures in place to ensure your business is built on a strong infrastructure that will translate into a sustainable business.
The Workshop
· Address everyday issues that arise when stating a new business
· How to save you time, money and energy.
· How to effectively handle start-up administration, operational requirements and registration.
The Basic Practical Guide to Starting a New Business Will Include:
· Registered Company Vs Sole Proprietor
· Accounting Records & General Admin
· Banking Accounts
· Receipts and Banking
· Cheque Payments and/or Internet Payments
· Invoices
· Credit Notes
· Bank Reconciliations
· Petty Cash
· Control of Numbered Stationery
· Computerised Accounting
· Staff & HR Issues
· Security/Safety
· Money Laundering
· Filing
· Stock Control
About the Facilitator:
Nikki Viljoen is an Internal Auditor and Business Administration Specialist who has in excess of 35 years’ experience in this field both from a banking and Corporate perspective as well as almost 10 years as an Entrepreneur. Nikki is the founder of Viljoen Consulting, and is passionate about assisting smaller companies to establish controls and processes that will result in sustainable business structures.
Nikki’s business blog was recently ranked 5th in the world in her category.
Venue and Booking Info:
Date: Wednesday 24th May 2017
Time: 08.30 to 3.30m. (Registration from 08.00 onwards). Please allow additional travelling time to combat traffic.
RSVP: Please book by No later Than Friday 19th May 2017
Venue: ROCCI (Roodepoort Chamber of Commerce & Industry)
Constantia Corner Office Park, cnr Christiaan de Wet &Ondekkers Road (entrance in Wattle Street, Florida Park. Roodepoort, Johannesburg.
Cost: R1 495.00 (ex VAT)
(Includes breakfast snack / refreshments and course material) – lunch can be purchase from several venues within walking distance of the venue Remember Standard Bank Voucher holders, ROCCI paid up members and Business Engage paid up members get a 20% discount.
Hurry! Book Now Spaces limited !
Business Engage ( formerly Women in Finance) delegates please contact Colleen Larsen on [email protected] or 084-353-9865.
Paid up Business Engage members get a 20% discount.
Paid up ROCCI members get a 20% discount
Look what’s happening at The Real Entrepreneur
“Calling All Entrepreneurs - Don’t miss out on this crazy special”
“REAL Entrepreneur, Early Bird special ending this week (JHB & CPT)”
The ultimate entrepreneurial event in Africa will be happening in May in Johannesburg and June in Cape Town but there is an amazing Early Bird special ending this week. You can secure tickets for 92% less than their full price...Insane!.
Go to https://www.realsuccess.net/rei/?cptcode=genC&jhbcode=genJ to secure a early bird special for either the Johannesburg or Cape Town events now.
The event is presented by Brian Walsh who is considered a leading authority on Entrepreneurship and Human Behaviour. He is brilliant and this event is absolutely life-changing.
Go to https://www.realsuccess.net/rei/?cptcode=genC&jhbcode=genJ to secure a early bird special for either the Johannesburg or Cape Town events.
Don’t miss out on the Early Bird Special. Go there now.
Look what’s happening at Business Engage
BOARD WALK INVITE
The Concept
The Boardwalk is an initiative that has been created to nurture the development of aspiring directors who are currently in senior management positions within medium to large companies, to help them to unlock their future potential. It aims to expose these individuals to existing directors (both executive and non-executive) and partners during an interactive networking breakfast that will encourage meaningful engagement and dialogue.
The Name
While “The Boardwalk” paints the picture of a promenade or walkway, it holds an underlying meaning of the bridge that an aspiring director needs to cross to become Board ready, as well as the journey that needs to be embarked upon.
As they take their first steps down this path of opportunity, these aspiring directors will benefit from those already sitting in the higher echelons of corporate South Africa who will offer their guidance and share their insights and challenges.
The Format
Business and other leaders will be invited to host a table of between eight and ten people. The job of the host will be to impart knowledge, experience and words of wisdom to the table, while directing the conversation.
The topics may be either specific or general as the host and the table pleases. Attendees will rotate tables twice during the breakfast, while the host remains at their table throughout.
NEXT EVENT :
Date : 10 May 2017
Venue : EY, 102 Rivonia Road, Sandton
Time : 07h30-10h30
Cost : R495,00 plus VAT per person
RSVP : [email protected]. Numbers are limited and are on a first come first served basis. Payment confirms the booking.
POWER OF PERSUASION
PURPOSE OF THE WORKSHOP
In today’s increasingly sensitive political and social climate in the workplace, emphasis is being focused on transparent processes and the rights of the individual; while informed media thrives on communicating to the public the successes and failures of prominent individuals. It is, therefore, becoming more essential than ever that high-profile individuals realise that their successes and legacies in leadership are depending less on their power and authority bases, and more on their skilled abilities in areas such as persuasion, communication, and negotiation.
INTERPERSONAL SKILL BASE (NEURO-LINGUISTIC PROGRAMMING)
In the world of diverse interests, the person who is able to persuade others in an ethical and responsible manner to achieve desirable corporate objectives, is being set apart as an effective and indispensable leader. Although most will agree that “if one continues to behave in the same way in which one is accustomed, one will continue to get the same results”, many in authority continue to use their positional power in an attempt to achieve results; only to then bemoan the repetitive “undesirable” results that they get from their subordinates. These ineffective “patterns of behaviour” by both managers and their subordinates can be changed in order to achieve productive outcomes, provided that the leader learns and exercises skills particularly in the power of persuasion; as well as how to detect and re-channel the unethical persuasive manipulation of others into positive outcomes.
Advanced interpersonal skills, based on the recent transformational technologies, such as NEURO-LINGUISTIC PROGRAMMING (NLP) and TRANSACTIONAL ANALYSIS (TA), can empower you to identify ineffective incompetence’s in both yourself and others; and, by implementing the practical techniques of persuasion, rapidly facilitate you in effectively transforming these into desirable, competent and lasting results.
WHAT YOU WILL GAIN FROM THE POWER OF PERSUASION WORKSHOP
1. A practical understanding of how "Positional Power" and "Personal Power" influence communication; and how to apply techniques of persuasion to obtain successful outcomes.
2. A practical understanding of the "Process of Transformation", i.e. moving from unconscious incompetence to unconscious competence, in order to unlock personal excellence, and facilitate others in this transformational process.
3. A practical understanding of how a person's criteria and perceptual filters influence perceptions and how they sort information; and how to utilize these fundamental elements in the process of persuasion.
4. Practical techniques for building trust and rapport with another person in order to reduce perceived differences in any interpersonal situation, so that you can persuade that person to achieve desirable outcomes.
5. The language paradigm of persuasion; and structured communication skills:
5.1 Active listening skills - in order to gather relevant information from others;
5.2 Structured questioning techniques - in order to elicit precise information, and reduce misunderstandings;
5.3 Sensory acuity – in order to detect the non-verbal signals from another person, especially regarding resistance and unproductive manipulative behaviours; and how to effectively and respectfully re-channel these behaviours into productive outcomes.
5.4 Language patterns for giving information and instructions in a clear and precise manner, in order to maximise results; and for giving meaningful and comprehensive feedback to others, in order to ensure adherence to required standards of behaviour.
5.5 Linguistic techniques for facilitating others in changing their non-productive patterns of behaviour, and expanding their behavioural alternatives – e.g. by dissociating from and reframing inappropriate behaviours into appropriate responses, in order to achieve desirable outcomes.
6. Skills for designing structured outcomes with others in order to reduce misunderstandings, increase the arena of agreement, and ensure the achievement of required results.
7. The enhancement of thinking skills, especially in the areas of linear and lateral thinking, expanding paradigms, and the logical levels of thinking; in order to improve your ability to manage complexity and conflict, and negotiate mutually beneficial outcomes with dissenting parties.
8. Skills (based on NLP and TA techniques) for dealing with undesirable behaviour (such as emotional outbursts, aggression, apathy, sabotage, etc.) in order to channel it into worthwhile outcomes and improved interpersonal relations.
DURATION OF THE WORKSHOP
Two full days of in-house training.
A half-day follow-up session about two weeks after the training in order to provide delegates with the opportunity to give feedback regarding the effectiveness of the training; and to receive further guidance in dealing with various problematic situations. Date to be agreed.
DELEGATES OF THE WORKSHOP
The Power of Persuasion Workshop is primarily designed for managers and leaders of others.
No more than 12 delegates per workshop so that each delegate has ample opportunity to practice in work-groups the techniques being taught; and to discuss relevant issues concerning persuasion in their unique daily environments.
WORKSHOP:
Date : 8 and 9 May 2017
Venue : Northern Suburbs, Gauteng
Time : 08h30-16h30 both days
Date : 22 May 2017
Venue : Northern Suburbs, Gauteng
Time : 08h30-13h00
COST
R4850 (including VAT) per person. Limited to 12 delegates for event. Payment secures your booking.
RSVP
PROFILE : MIKE MATULOVICH
2017 – 1996:
Oxygen For Life S.A. (Pty) Ltd: Mike is currently the chairman of Oxygen For Life S.A. (Pty) Ltd, a wholly-owned South African company that imports nutritional and environmental products from America, and packages and distributes them to various countries in Africa, Asia, Europe and the Middle East. Mike started the company in 1996; and in 2006, received the Mogale City Chamber of Commerce & Industries Independent Entrepreneur Achiever Award; with Oxygen For Life being the overall winner of the Business Achiever of the Year Award.
Mauritius: During the past 7 years, while developing the Oxygen For Life business in Mauritius, Mike invested in two property development companies there, and still manages interests in one of them.
2016 - 1983:
Interactive Dynamics CC: Before he started Oxygen For Life S.A. (Pty) Ltd, Mike was the sole owner of a consulting and training organisation, Interactive Dynamics Close Corporation, which he started in 1983. Mike specialises in the fields of Neuro-Linguistic Programming, Personal Development, Communication, Negotiations, Mentoring, Stress Management, and Industrial Relations; and still conducts select top management workshops for some of his long-standing clients.
Prior to 1983:
Prior to starting his own company, Mike specialised in human resource development, holding positions in management consultancies, such as that of Managing Director of Gemini Industrial Relations Training Systems (Pty) Ltd, and senior consultant and shareholder of FSA-Contact (Pty) Ltd; and being a part-time lecturer at the Business Schools of both UNISA and the University of Pretoria.
Mike holds a Bachelor of Arts degree and a Master of Business Leadership degree, both from UNISA, and studied post-graduate psychology at UNISA for a further two years after obtaining his BA degree. He is a registered Training and Development Practitioner with the South African Board for People Practice, and with the Mauritian Qualifications Authority; and a Master Practitioner in Neuro Linguistic Programming (NLP), registered with the North American Association of Neuro Linguistic Programming, and the International NLP Training Association (INLPTA) based in U.S.A.
Mike has spoken at various conferences throughout Southern Africa and internationally (Venice, Las Vegas, Tokyo, Amsterdam, and Mauritius); has published articles and a book on NLP; and has lectured in Organisational Behaviour on the Managerial Advancement Programme (MAP) at the University of the Witwatersrand, and on the Management Development Programme (MDP) which was underwritten by the University of Pretoria.
Throughout the years, Mike has conducted numerous courses in Neuro-Linguistic Programming; has counselled many people; and is still the personal mentor to various people, including senior executives of corporations, top sports people, and senior members of government (as a result of his involvement in the Peace Accord in the 1990s).