Showing posts with label risk management. Show all posts
Showing posts with label risk management. Show all posts

Friday, April 23, 2010

DEALING WITH THE MEDIA IS A RISKY BUSINESS BUT CAN ALSO OFFER RICH REWARDS

Themba Sepotokele

Any organisation that has been under the illusion that dealing with the media is a walk in the park should by now have prioritised five percent of its budget for communication, especially media training.

Two events which incidentally and ironically happened on the same day should have opened the eyes of many organisations, institutions, parastatals, political parties, government departments and municipalities.

Firstly is the ranting and raving of the ANC Youth League president Julius Malema who deemed it fit to show his out-of-the-cot toys and kick out BBC journalist Johan Fisher during a press conference recently. The Juju lost his cool as he briefed the media about his visit to the economically and politically ailing Zimbabwe. In front of cameras, he used words suc as “bastard” and “a bloody agent.”

You see the Bully Boy from Limpopo likes the media attention so much that he has held more press conferences than the mother body, the ANC Women’s League and the Veteran’s League.

When he was at his lowest ebb, after being jeered by the South African Community Party (SACP) conference last year, he pleaded with Yusuf Abramjee, the chairperson of the National Press Club to organise a media conference to speak his mind.  At this conference, Malema threatened “war” against the communist party and its leaders Blade Nzimande, Jeremy Cronin and Gwede Mantashe.  Why he didn’t use Luthuli House as it has been the case is anyone’s guess.

If my memory serves me right, he said nothing at that press briefing and hordes of media hounds were disappointed. However, the strategist that he is, he used the media platform to boost his bruised ego. I remember Business Day editor Peter Bruce saying he wished he hadn’t sent his reporters to cover that media briefing.

Malema’s lawyer Tumi Mokoena and ANC spokesperson Floyd Shivambu spewed a lot of hot air when they called journalists to a press conference in March.  They wanted to clarify that Malema was either not or no longer a member of SGL Engineering which has, according to the City Press exposé, done a lot of shoddy work with falling bridges.

As a media trainer and analyst, I have known that this was long time coming. The man who managed to charm most of the people who interviewed him was now on the attack, a clear sign that he is now under pressure and that he needs to hone his skills in handling the media.

In the second incident, Andre Visagie, the secretary-general of the Afrikaner Weerstandsbeweging (AWB) was never to be outdone by Malema.  He actually reminded me of an incident in 1995 when Prince Mangosuthu Buthelezi and his bodyguard stormed into a studio during a live broadcast of an interview with Prince Sifiso on SABC TV's news programme Agenda.  Buthelezi had appeared on television shortly before Zulu and had been watching the programme on a screen outside the studio.

Visagie was having a debate on eNews Channel studios with the young and intelligent policy and gender advocacy director of the Trade Collective, Lebohang Pheko, when he lost his cool. The anchor Chris Maroleng had invited them to discuss the issue of race relations in the aftermath of the death of AWB leader Eugene Terre'Blanche.

Visagie became irritated and hot under the collar, telling Pheko not to interrupt him, before ripping off his microphone and storming off the set. However, he returned moments later saying:

“I am not finished with you; you don’t interrupting me” (sic).

Maroleng came to Pheko’s defence while AWB security staff also intervened. However, it was Maroleng’s utterances that left viewers laughing. He repeatedly said:

“Don’t touch me on my studio, don’t dare touch me on my studio” (sic).

The AWB member’s adamant response: “I’ll touch you on your studio,” left the country with stitches.

These two incidents should remind us that in dealing with the media, we must be cool-headed, be prepared and expect questions from hell – those that you wouldn’t otherwise like to be asked and be able to navigate without being compromised or, worse, compromising yourself. Therefore, thorough media training cannot be over-emphasised. People with short fuses should try by all means to remain cool, calm and collected.

Hats off to President Jacob Zuma; he emerged unsated in all the interviews especially on CNN, BBC and Sky News where foreign reporters would bravely ask him about his rape and corruption charges. Depite his shortcomings, he answered those well.

I hope there are lessons learnt in the Malema and Visagie sagas, of how not to deal with the media.

Indeed dealing with the media can offer rich rewards, but it can also be very risky so make sure you are prepared. Communication defines reputation - both personal and corporate, of which Malemas’ and Visagie’s is now damaged and in need of repair. It is important to communicate to the best of your ability and give the right impression.

Now that Malema was 'booed' again by ANC Youth League members in his home turf Limpopo is a clear indication that people are gatvol of the Malema factor. Even President Jacob Zuma has finally rebuked and berated Malema publicly. However, Malema should be made to apologise publicly. Like Zuma said, it is important to think before talking.

I hope the two (un)gentlemen who disgraced themselves and brought their respective organisations into disrepute can take leaf from philosopher Walter Lippmann who once observed that;

“A man has honour if he holds himself to an ideal of conduct though it is inconvenient, unprofitable, or dangerous to do so.”

The writer is a former journalist, now a government communicator and a media trainer attached to Rhodes University’s Sol Plaatje Institute for Media Ledership; School of Journalism and Media Studies in Grahamstown. He writes in his own capacity.

Monday, April 12, 2010

10 easy ways to fail as an entrepreneur

By Sue Rutherford
Many people dream of starting their own businesses and becoming financially independent, but while the idea of organising and operating your own business venture may be thrilling, there’s a good chance that your fledgling company won’t survive unless you identify potential pitfalls and plan to circumnavigate them.

Here are 10 ways that you could fail as an entrepreneur:

1. Poor market research

Make sure there’s a need for your product or service. Ideally, your offering should be unique and fill a gap in the market, but if there’s already competition in your intended sector, research ways to position yourself uniquely to improve your chances of success.

2. Inadequate planning

Every new business needs a roadmap to follow, a solid business plan. Unless you’re looking for outside funding, this doesn’t have to be a long, formal document, but it must at least outline the operational and financial directions that your business will take. On the flip-side, be flexible. Don’t allow a business plan to stifle your business if circumstances change.

3. Lack of experience

Not everyone is cut out to be an entrepreneur. If you aren’t a proven self-starter with a good track record in planning, organising and making decisions that can benefit your business in the long term, seek out experienced mentors and hire people who can compensate for your lack of expertise in certain areas.

4. Insufficient capital

It’s very common for entrepreneurs to misjudge how much they need for start-up capital, and how long it will take before their new business becomes profitable. This is usually because of inadequate planning and research. If you’re going to look for outside funding, choose investors who are familiar with both your industry sector and the challenges facing new business owners.

5. Over projecting sales volumes

Unless sufficient research is undertaken, you may very well miscalculate the size of your market. This will result in you over-projecting your portion of it and make meeting your subsequent sales objectives an impossible task. Furthermore, your cost projections will be too low and your end margins won’t be what you anticipated.

6. Feeble financial systems

Make sure you implement solid financial systems that will scale with your business, right from the start. There are many first-rate software packages you can make use of to keep your finances running smoothly. If you’re unfamiliar with good accounting practices then consider enlisting the services of a bookkeeper to help you on a regular basis.

7. Mismanaging cash-flow

Lack of financial discipline is a common cause for start-ups to fail. Cash is the life-blood of any business and learning to manage cash-flow correctly is critical. Keep a close eye on your debtors’ list and spend your income wisely. It may be very tempting to splash out on expensive resources, but before doing so, take an inventory of what you already have and be realistic about whether or not your new purchases are essential to the success of your business.

8. Unexpected growth

Planning for the potential growth of your business is just as important as planning for a shortfall in expectations. Failure to do this could be extremely damaging as growth periods are often unstable and confusing. Whether you’re increasing your market share or diversifying, you need a strategy to cope with expansion whilst still fulfilling your existing customers’ requirements.

9. Hiring the wrong people

At some stage in the development cycle of your business you’re probably going to have to employ people. Choose wisely and never hire for the sake of convenience as hiring the wrong people can seriously undermine the success of your business. You need to select people who, at the very least, meet your skill and behavioural trait requirements. Hiring experienced staff that you can trust will provide you with valuable support.

10. Fear of failure

To be a successful entrepreneur, you must be willing to accept failure. Unfortunately, fear of failure keeps many people from taking the necessary risks required to start and grow a successful business venture. To work through your fear, take a realistic look at your business, correct any problems that you’ve identified and then take action and move on.
Failure may be painful, but it can also be your best teacher if you are willing to spend time analysing your mistakes and applying what you learn from them.

Starting and running your own business means that you are in control of the process. While there are no guarantees, if you plan carefully, work hard, remain flexible and avoid the pitfalls mentioned above, you have a very good chance of becoming a successful entrepreneur and fulfilling your dreams of financial independence.

Have fun out there.

View same article on http://memeburn.com/2010/04/10-easy-ways-to-fail-as-an-entrepreneur/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+memeburncom+%28memeburn%29