Preview WealthWise magazine June-July 2012

WealthWisemagazineSouth Africa/Africa region

June/July 2012Vol II/No. 13FREE

THE GOLDSTANDARDBUSINESS FAILURE

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Contents

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Coverstory8 Lessons learnt frombusiness failure

LifeWise15 How to be free fromRight and Wrong18 How to live in the NOW ­Forget stress and control

MoneyWise21 Is Gold the right place toinvest now?25 Is Gold always the goldstandard?27 Retirement Annuities ­The comeback of the year?

BusinessWise40 The race for attentionin a distracted economy42 Profile of anEntrepreneur: RockingPersonal Finance46 The GAP MarketingTurnover Boost Model PartIV

CareerWise53 What skills do mymanagers need?56 Is group coaching moreeffective than traditionaltraining?

Agenda58 Winter Indulgenceat Chicama CountrySpa63 Competition64 Books68 Events

Regulars3 Contents4 ForeWord5 Get in touch6 Contributors71 In next edition

The Rightnessof Being Wrong

ForeWord

e don’t like to fail.Failure is bad. Itbrings frustration,anger, blame,

disappointmentandabadtastein our mouths – unpleasantmemories. Or is it so?The subject of failure andwrongness as beinginstrumental to success is atheory I have been readingabout in the past months anda well­founded argument,drawing references fromhistory, psychology, life andyes, you guess it, business.

While deciding on your futureinvestments and businessstrategy, don’t forget to stillhave fun and relax this winter.We recommend going for anindulgent Spa experience(more about it in our lifestylesection, Agenda) or go for ourselection of events. Certainlywinterseasonisnotboringatall.We hope that our publicationwill inspire you to make everyday, long­lasting changes to awealthier future.Wishing you all the best,Denisa OosthuizenManaging EditorWealthWise magazinewww.wealthwisemag.com

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It’s a central topic to ourJune/Julyissue.Inthisedition,we talk about negativity,failure and being plain wrong.Wegothroughthedevastatingexperience of closing down a

business as told by Charlottein our CoverStory interviewand we explore a worldwithout the right and wronglabels, stress and control.We also bring you fabulousbook reviews on the topic,some of the most captivatingso far.We take an objective look atGold investments and godeeper into financial advisers’favourite subject of the pastthree months – retirementannuities (RAs). Financialplanners, managers and bankrepresentatives discuss therevivalof retirement fundsandthe advantage anddisadvantages brought bygoing the RAs route. Decidefor yourself.

WealthWise magazinePublisherREO Media SolutionsManaging EditorDenisa [email protected]@wealthwisemag.co.zaSales and [email protected] DesignREO Media SolutionsLayoutNial l Brown

Distributionwww.wealthwisemag.comwww.wealthwisemag.co.zaCopyrightAll content and informationwithin WealthWisepublication is property of thePublisher and should not bereproduced, copied orentirely quoted without theprior approval of thePublisher, being protectedunder copyright laws. Shouldyou wish to make use of anyof the content displayedplease contact us [email protected] [email protected] editorial contributions,comments and suggestions,email our editor at

[email protected] technical issues andother website relatedcomments, email us [email protected]

June/July 2012Cover: dreamstime.comContributors: TakuraMahwehwe, Yasin Ebrahim,Andrew Morton, Ockert JMoller, Johan Mouton,Vanessa Bluen, DenisaOosthuizenPhotos: dreamstime.comand contributor's photoswhere stated

Get InTouch

Contact us

Email: [email protected]@wealthwisemag.co.za

Mobile: +27(0)82 819 2820+27(0)81 326 1579

Skype: denisa.oosthuizenFacebook: WealthWise magazineTwitter: @WealthWisemagLinkedIn: www.linkedin.com/company/wealthwise­magazine

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Ockert J Moller is aninternationally recognizedspeaker and author ofnumerous books on humanpotential development. He isthe Founder and President ofthe "I AM Institute of HumanDevelopment", anorganization that specializesin training, consulting andcoaching.Read Ockert's opinion onbeing right and wrong inLifeWise section, page 1 5.

Takura Mahwehwe isPortfolio Construction Analystat Cannon Asset Managers.Cannon Asset Managers is aniche investmentmanagement company, basedon the philosophy andprinciples of value investing.Takura asks if gold is theplace to be investing rightnow in MoneyWise section,page 21 .

Johan Mouton is theowner and marketingspecialist at Online Systems.He has been involved inmarketing research projects,consulting work anddeveloping people forbusiness. He has an Honoursdegree in marketing and hasdeveloped a marketing boostmodel to help companiesincrease their turnover byimplementing and focusing onadequate marketingstrategies.Read the final Part IV ofJohan's 18 GAP MarketingTurnover Boost Model inBusinessWise section, page46.

Contributors

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Andrew Morton isManaging Consultant at TheHR Hub, South Africa’s firstHR Service Centre, offering anumber of HR products andservices under one roof,covering the complete HRspectrum.Read Andrew's feature aboutmanagerial skills inCareerWise section, page53.

Vanessa Bluen isManaging Director of TheConsultant Powerhouse. Herbusiness focus is workingwith individuals inorganizations at all levels tochallenge their work andpersonal paradigms. She waslecturer on OrganizationalBehaviour at University of theWitwatersrand for five years,then a corporate executiveand successful entrepreneur,elected as a finalist for Bossof The Year 2005.Read Vanessa's article aboutattention in BusinessWisesection, page 40.

Yasin Ebrahim is aninvestment professional,researching developments inthe Alternative Investmentspace through exposure intraditional and social media.His background in Risk andInvestment Managementcoupled with leading industryqualifications provide himwith a sound background toexplore AlternativeInvestments.Read Yasin's opinion on thegoldl investing inMoneyWise section, page25.

Contributors

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Lessons Learnt FromBusiness Failure

by Denisa Oosthuizen

CoverStory

harlotte Kemp isone of thethousands ofSouth Africans

who had to go through thedrama of closing down abusiness. What makes herdifferent is the courage toput down on paper her mostinner fears, disappointmentsand lessons learnt on theway to failure. Her book,“I’m not afraid of the Fword”, is a candid andrefreshing personal andbusiness account of her lifein the midst of making oneof her hardest decisions –giving up on a franchiseretail business.

WealthWise magazine:Your book, “I’m notafraid of the F word”,recounts the lessonslearned on the way tobusiness failure. Why abook? Tell us more aboutyour career and thefranchise business youare referring to in yourbook.Charlotte Kemp: As aspeaker and trainer, Icouldn’t let a good lesson go

by without recording it. Iwrote the book for threereasons: to encourage otherentrepreneurs who aregoing through toughbusiness times, to find waysto get past temporarybusiness failures; to be arecord for my daughters sothat they will be encouragedin years to come andunderstand what we wentthrough; to remind myselfof the mistakes that I madeso that I can try to avoidmaking the same mistakesagain. The book is a usefulresource to continue theconversation about failure.WealthWise magazine:Why the decision to closedown your business?What did it take for youto realize that there wasno other option at thatpoint in time?

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While there are plenty ofstories about businesssuccess, the book relates tothe story of a failure,showcasing at least fiftylessons she learned from

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her experience, lessonsvaluable for small andmedium sized businesses(SMEs) and start­ups. HereCharlotte opens up toWealthWise magazine abouther motivation to write thebook, her most importantbusiness lessons learnt, herinternal struggles and howshe sees failure.

Charlotte Kemp: We got toa point in terms of resourcesthat we could not continuefinancially or emotionally. Iclosed the business downbefore someone else did itfor us. It was a painfuldecision, and theconsequences of the entirebusiness failure is still beingexperienced right now, butthe decision to stop the freefall was a good one, albeitlater than it should havebeen made.WealthWise magazine:One of your lessons is

“Learn to Quit”. Was ithard to quit? Were youafraid of failure? Did youexplore other options?Did you try to postponethe moment? Were youhopeful that things couldbe sorted out, and upuntil what point?Charlotte Kemp: We wereconstantly hopeful that thebusiness would turn around.In fact, our second lastmonth of operation was ourbest in terms of revenue.However, by then thedamage was so bad, that

there was no way we couldcontinue.We tried very hard to sellthe business, even at adiscount, and even afterabsorbing the losses myself,but no one was willing inthat current economicenvironment to take therisk.Quitting the business meantthat I had the chance tostart something else,something that I could dobetter and with a greaterchance of success.

Photo: Speaker andtrainer Charlotte Kemplearned business thehard way while takingup a franchise retailbusiness and closing itdown months later

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