Tag Archives: entrepreneur

3 Financial Mistakes Entrepreneurs Make

#WrittenInThePastPublishedNow

  1. Investing a lot in creating a new product

I have made this mistake many times, i.e. overly investing a lot of money in the development of new a product at once. Obviously ‘a lot’ is relative. My ‘lot’ can be less to yours.

The danger with this is, if the product doesn’t work, the loss is greater.

When developing a new product, entrepreneurs should strive for ways to do it in tiny bits and not expose all of their capital, and thus allowing them a safe feasibility test.

This is what nelson Mandela would say about entrepreneurship – a parody speech

[Read with Nelson Mandela voice. This is a parody speech of Nelson Mandela giving encouragement to entrepreneurs. It never took place]

– –

In 1952, Oliver Tambo and I decided to become entrepreneurs. We started South Africa’s first black-owned law firm – Mandela & Tambo – right during apartheid.

In the beginning things were hard, I only had 2 suits. So, don’t laugh at the young entrepreneur you see at conferences wearing the same suit over and over again.

Here is some little advice. Buy a black suit if it will be the only one for a long time. Any other colour will give you off – that you wear the same suit all the time.

Get this book for free. ‘The Entrepreneur’s Emotional Toolbox’ by David Chislett

My good friend (and unofficial mentor), David Chislett, has penned a very helpful book.

A few years ago when he was in South Africa to visit his family, we met up. And he gave me some great advice I still carry today. The advice was, if you have actively been executing ideas for years, YOU NEED A BREAK AT SOME POINT. Or you will break and burn.

The title of the book is The Entrepreneur’s Emotional Toolbox.’

And guess WHAT? He is availing it as a free download. Click here to go and download it.

“Whether you are a seasoned entrepreneur, or just thinking about going out on your own, this small book is jam packed with tips and tricks and useful strategies to keep you sane and healthy while making a success of your business idea.

This is not a business advice handbook or pocket MBA. It is designed to help anyone who works for themselves or owns their own business, deal with the very real emotional and psychological challenges that come with being a self-starter in a business world dominated by huge corporates.”

The Science of Cooling Down Your Mental Engine: Gaining Control Over Anxiety and Increasing Creativity/Productivity

Sometimes I literally can feel my mind is overworked – like a car overheating – and frustration and desperation are taking control of my mental engine.

What if like the engine in a car we could turn our mind on and off to cool it down? Or like a computer we can refresh and clear our mental RAM?

Entrepreneurs’ Immediate Anxiety Cheat Sheet

(Find JPEG image of this cheat sheet at the bottom of the post)

“I am feeling deeply overwhelmed, a headache is knocking, and I am getting flushes of anxiety. I know I should do the following below but I try to reason that I have important things to get done…”

Where to Get Help for Anxiety, Depression and Suicide

Since publishing ‘The Anxious Entrepreneur’, I’ve been making interesting contacts with people.

I am not a professional anxiety, depression and suicide expert.

If you believe you suffer from anxiety, depression and are having suicidal thoughts, I humbly request that you get help from a trained professional. These are serious conditions you need to attend urgently.

So below follows places to find such help:

SOUTH AFRICA

The organisations below have support groups and/or programmes in various parts of the country. Find out if they do not have support closer to your area.

South African Depression and Anxiety Group (SADAG)

  • Help line: (011) 262-6396 (8am – 8pm, seven days a week)
  • Suicide crisis line: 0800 567 567 or SMS 31393 (8am – 8pm, seven days a week)
  • Website:sadac.org

LifeLine Southern Africa
This is a 24 hour emotional crisis intervention service. It’s free and confidential.

  • National counselling line: 0861-322-322
    Counsellors help callers with challenges such as trauma and suicide.
  • Website: www.lifeline.co.za

INTERNATIONALLY

In each country, there are organisations and support groups that assist people experiencing these conditions. Search and approach them for help. And the prominent ones are mostly free.

If you are in a crisis, I suggest you contact a depression, suicide or emergency helpline in your country.

In any case, here are some online resources you can use (some are free, some are free for the first session and others charge throughout):

7 Cups

Free, anonymous and confidential online text chat with trained listeners, online therapists & counsellors.

Website https://www.7cups.com

Counselo

Assists with depression, sadness and burned out.

Website www.counselo.com

Therapy Tribe

Helps people find great mental health resources like therapists, support groups, wellness tools, as well as an overall sense of community.

Offers a combination of a professional therapist directory as well as self-help wellness resources – all free of charge to the community in need.

Website www.therapytribe.com

Better Help

Convenient, affordable, private online counselling – anytime and anywhere.

Website www.betterhelp.com

The Other Source of Depression

I have always been entrepreneurial. On two separate occasions as a kid I had vegetable gardens. On each, my grandmother, and later her daughter (my mother), gave away almost all my produce and thus succeeded in liquidating my intended businesses. I guess my mother got it from her mother – my grandmother gave it to her daughter.

Among the other things I aspired to be was Jean Claude Van Damme. I didn’t want to be Chuck Norris because he had bushy chest hair. I am 30 today, with medium chest hair. It is even turning white.

How my story should be is: he grew up poor, went to university; he then ventured into business, struggled for a bit of time and then became very successful. “He

[My] 7 Top Articles Helpful to Entrepreneurs in Admitting and Dealing With Anxiety and Depression

From all levels of start-up to big success in entrepreneurship, there exists a dark cloud often not talked about. It is anxiety and depression.

At worst, I’ve read stories of very successful and unsuccessful entrepreneurs committing suicide.

Entrepreneurship can be gruesome.

The Gonorrhoea Theory of Discovering Greatness and Turing Failure into Luck

Below is heartfelt text by a young entrepreneur I believe much in, Mpumi Mtinso, founder of Book a Bicycle operating out in Soweto Vilakazi Street – visiting places such as The Hector Pieterson Museum, Soweto Brewery and Nelson Mandela’s house. To add a pun you shouldn’t excuse, literary if you bring books to them, you will get a discount on a bicycle ride. But I like his creative sarcasm more.

Here is the text:

“A couple weeks before this picture was taken, I was lost and desperate. Every entrepreneur hits a phase in life where they want to give up their dream and give in to a 9-5. So I applied for a job at a ‘creative mag’ and got called in for an interview. Awesome! Didn’t tell any of my family or friends, just my nigga Thulane of Book of Swag because I needed directions, hahaha.

At the interview I was asked where do I see myself in 5 years. My response was, ‘if not at a higher position at this magazine, I see myself, FRONT ROW SEAT MEDIA & BOOK A BICYCLE taking over the world.’ After my this response, one of the ladies interviewing me was impressed and ready to hire a Guluva and the other lady kept saying but your 5 year plan means you going to leave us. Which in my head she was implying that I won’t be getting any promotion in the next coming 5 years. The following day the ladies call me to tell me

I didn’t get the job. Cool. After the call I came back to my senses.

Applied my all to BOOK A BICYCLE and I scored myself a live in studio interview at 5FM.I spoke about BOOK A BICYCLE and other things.

The next week, I’m jamming to 5FM and I hear the same ladies that rejected me at their mag, getting interviewed on the same show as me.

Point of this story is, rejection don’t mean you useless or not worthy. Rejection should open yours eyes to other opportunities. Or like me bring you back to your senses.

O.M.G can’t believe you read this whole story Hahaha.

Go out there and conquer.

The war isn’t over, but lil victories shall be celebrated.”

Tiisetso Maloma Interview on the Creative Warriors Podcast, Nipping Anxiety in the Bud

Creative Warriors Podcast - Tiisetso Maloma

I was a guest on the Creative Warriors Podcast hosted by American entrepreneur and business coach, Jeffrey Shaw.

We had an engaging chat about defeating ‘entrepreneur anxiety’ and the book – ‘The Anxious Entrepreneur.’

Do check out and download the episode here http://ow.ly/whdd307Tc1U. It is episode 255.

Gain productivity, creativity and joy – defeat anxiety and stress: The Anxious Entrepreneur book

Get  The Anxious Entrepreneur book on Amazon, Apple iBookstore and Kobo.co.za. South Africans can order here www.tiisetsomaloma.com/anxiousbook.

It was at about 3:35 pm. I felt I was about to faint or have a panic attack. The day was not going well. Over and above, I was overly tired.

It had been weeks since I had any ‘win’. Therefore I needed to hustle people on the phone even if it was 4:00 pm. I was desperate. For goodness’ sake, that time is around knock off time. A business pitch is the last thing they would want to hear.

An earlier rejection email had heightened the panic. All these triggered my mind to think I have no hope: immediately, I time travelled to the past and the future. I saw no advantage of what my past has brought to today and I saw no light in my future.

Anxiety invades our productivity and therefore our goals. All it takes is to not see progress in a day, then a week or a month. The next thing you know, you are standing at the peak of the highest anxiety hill, depressingly recalling your record of failures and doubting your future.

This book goes through what to do to counter such episodes – and below are things you can do now:

The Man who Fed his Child with the Face of the Mother, A Metaphor for Creativity

The Joker

No, it wasn’t The Joker.