|
|
|
|
|
|
| ||||
Seven easy rules to building wealt... The 21st century promises a whole new wa... Make more with the direct approac... Pick 'n Pay gallops in on banking's tur... UNIT TRUSTS:Coronation Balanced Fun... Inflation is the enemy during your retir... I do, I don't - but what if he just can'... It's a case of David beating Goliat... Income distributions on your investment... Turning a crisis into capital is her spe... |
Turning a crisis into capital is her special cachet
STARTING her own business was thrust upon Lee Adams. The college where she had been teaching had unexpectedly closed its doors - and this happened after she had recruited 30 secretarial students for a course at the beginning of the year. She felt committed to those young people. But she didn't despair. She merely turned the dilemma into an opportunity. She drew up a business plan and discussed it with two friends who have well-established businesses. As she had no security, the banks rejected her loan application for the R20 000 she needed to start her business. It was only after her second approach to the SBDC that her thorough business plan and determination to succeed convinced the corporation she would be successful - hence the motto of her training institute: "If its going to be, it's up to me!" Adams started her school in July 1995 and did all the training herself with only a receptionist to help her. Her students - the 30 on the secretarial course - agreed to pay the fees on a monthly basis. Today the two-year-old Lee Adams Training Institute boasts of students in secretarial, computer, business management and accounting courses. "Looking back on that time, I understand the importance of having a practical business plan. "It not only helped secure the funds I needed to start my business, but I used it to keep the business on track," says Adams. "It was the clear goals set out in my plan that enabled me to secure the start-up finance, and helped to keep me focused and successful in my venture." Adams regards training as the daily interaction of all the personal variables of teacher and students. This makes training a complex business, and Adams has guarded against growing too fast. In the second year of running her own business, she added business management to the selection of courses. She also expanded the secretarial course so she could have two smaller but full classes. "From a management point of view, achieving the balance between student count and individual attention is the most difficult part of my business. "I screen every student to ensure they understand and fit in with the culture of the institute," she adds. Her marketing for 1998 is already well under way to ensure this sensitive balance is retained. In addition to the existing courses she will be adding communications to the selection of business-oriented courses she offers. This is in line with one of the objectives stated in her business plan - students must reap the benefit of training and not merely concentrate on the content of the course. Much attention goes into building the confidence of her students, and detailed preparation for job interviews leads to the successful placement of all her students at the end of the year. This has become an important selling tool when Adams visits schools to market her institute. Adams is an entrant in our Entrepreneur of the Year Award, a competition designed to promote small business and entrepreneurism in South Africa. Staff reporter Top of page
|
