Tag: WesBank

South Africa’s economic landscape is challenging even the most resilient consumers. In recent years, high inflation and soaring interest rates have taken a toll. At the same time, stagnant economic growth, rising fuel prices and a weaker rand are putting tremendous pressure on household finances.

In fleet management, determining the optimal vehicle replacement cycle is critical for operational efficiency, safety and costs. A poor decision impacts maintenance costs and cash flow. Advancements in telematics and leasing models are shifting practices.

Given the importance of this topic to business owners whose successful results depend largely through and with the actions of others, here we share some important tips on how you can hone your skill of delegation, and in so doing, develop your staff and get more tasks done.

We know that through effective delegation, team members will grow in confidence and both they, and your business, will benefit in the long run. Most delegation interventions end with an agreement to follow up on the designated tasks.

Amid the devastation caused by the COVID-19 pandemic on businesses, and in particular small businesses, bankruptcies have soared. If you were to do an analysis of why many small businesses go under, you are likely to find that a significant number end in financial ruin by making the same or similar mistakes.

Leadership is multifaceted and includes among many things, giving both direction and advice to others. This means you will need to provide guidance and instruction from time to time. Unfortunately, in some cases, the guidance provided is not clearly understood by the person on the receiving end, and the work carried out is not completed in line with expectations.

Procrastination is arguably one of the main reasons we, both in our personal and business lives, don’t perform to our full potential. It is a comfortable human habit that is not very easy to break once it gets hold of you. Allowing procrastination to become deeply entrenched in your life can potentially damage your personal competence and in turn, the efficiency of your business.