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You want to be rich… get into sales?

Tebogo Toteng
MONEYMIND

In my experience a lot of people associate sales with risk; the risk of inconsistent income and the absence of the security of definite pay cheque yet sales is one of the most rewarding professions and having born thousand of millionaires in the world.


Risk can be managed by knowledge; which is why there are sales people who are consistently top performers’ in their respective sales professions. If it was luck it would have run out however they do it year after year with astonishing ease. It is simply because the universe that we live in, is ruled by laws; and the top achievers follow a set of common rules that makes them successful.  


The below average sales person will always point to the superior sales person and say “He was born a sales person”. Nothing could be further from the truth.  Superior performer have a set of characteristic that are uniform and can be pinpointed and if the below average sales person copy those characteristics the end product will be the same.  


It is the interest of this column to move you to another level; moving you to the top of your profession by learning what the best sales professional do and copying and applying the same principles.


The power of the mind in learning
We have moved from the era of manpower to the era of mindpower. Thoughts largely determine who we become. If we continually think of ourselves as destined to success we open ourselves to opportunities that are in consonance with our thoughts. And the good thing is that we can learn to control what we think about most of the time.


Learning improves our mind power, challenges us to think of new ideas, new ways and in the process we exercise our brain and improve our intellectual capacity. The greatest obstacle to human improvement is the inability to recognize that learning is important to human progress. Think of the new inventions, innovations, systems, improvements that are results of dedicated learning.


It is no different in sales just like in any other profession. Sales people must become all time students of the subject of selling; learning new methods as the industry evolves. The world rejects people who refuse to learn and they regress as their peers progress.


An open mind provides a fertile ground for planting new knowledge; and enthusiastic learners are likely to retain knowledge as opposed those who grumble about training as a waste of time. Remember the biblical story of seeds that were planted on barren land and fertile land?

It is really the same if you open your mind to learning you are the fertile soil and you will reap the rewards of a good harvest. Unfortunately if you are anti-learning you will harvest nothing but it really comes to an individual choice.


If learning is not your thing I recommend you stop reading here but if you hunger to learn and compete; note compete not survive then you are just about to see you future skyrocket.  


Dream big
You cannot achieve big if you do not aspire and dream big. It is even worse when you do not have a dream at all.  The greatest ideas in human kind were first imaginations.  The biggest drive of any sales person is to be successful and financially free. The drive is kept burning by the desire to achieve great dreams. The inner passion for success is one of the common traits found in most successful salespeople. Passion is that thing that keeps nudging them to wake up every morning and work towards their dream. A dream is a vision; a vision of where one wants to go which brings us to goals.


Goals  
Dream remain dreams if there are not backed by action; measurable actions which we call goals. The reasons why goals are not dreams are that they are measurable, specific and timeous. Goals setting for salespeople are integral to success. The danger of operating without goals is that there is no honest appraisal of progress or lack thereof. The dream is the ultimate goals is the sign on the road that shows you how far or close you are to your destiny.


Plan
In order to achieve a goal there must be a plan to move towards the goal. The problem is that often more adults leave their dreams and goals to chance than develop a clear plan of achieving the dreams. And most average sales person leave their earnings to chance than have a plan of reaching a specific income each month.

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Business

P230 million Phikwe revival project kicks off

19th October 2020
industrial hub

Marcian Concepts have been contracted by Selibe Phikwe Economic Unit (SPEDU) in a P230 million project to raise the town from its ghost status.  The project is in the design and building phase of building an industrial hub for Phikwe; putting together an infrastructure in Bolelanoto and Senwelo industrial sites.

This project comes as a life-raft for Selibe Phikwe, a town which was turned into a ghost town when the area’s economic mainstay, BCL mine, closed four years ago.  In that catastrophe, 5000 people lost their livelihoods as the town’s life sunk into a gloomy horizon. Businesses were closed and some migrated to better places as industrial places and malls became almost empty.

However, SPEDU has now started plans to breathe life into the town. Information reaching this publication is that Marcian Concepts is now on the ground at Bolelanoto and Senwelo and works have commenced.  Marcian as a contractor already promises to hire Phikwe locals only, even subcontract only companies from the area as a way to empower the place’s economy.

The procurement method for the tender is Open Domestic bidding which means Joint Ventures with foreign companies is not allowed. According to Marcian Concepts General Manager, Andre Strydom, in an interview with this publication, the project will come with 150 to 200 jobs. The project is expected to take 15 months at a tune of P230 531 402. 76. Marcian will put together construction of roadworks, storm-water drains, water reticulation, street lighting and telecommunication infrastructure. This tender was flouted last year August, but was awarded in June this year. This project is seen as the beginning of Phikwe’s revival and investors will be targeted to the area after the town has worn the ghost city status for almost half a decade.

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IMF projects deeper recession for 2020, slow recovery for 2021

19th October 2020

The International Monetary Fund (IMF) has slashed its outlook the world economy projecting a significantly deeper recession and slower recovery than it anticipated just two months ago.

On Wednesday when delivering its World Economic Outlook report titled “A long difficult Ascent” the Washington Based global lender said it now expects global gross domestic product to shrink 4.9% this year, more than the 3% predicted in April.  For 2021, IMF experts have projected growth of 5.4%, down from 5.8%. “We are projecting a somewhat less severe though still deep recession in 2020, relative to our June forecast,” said Gita Gopinath Economic Counsellor and Director of Research.

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Botswana partly closed economy a further blow of 4.2 fall in revenue

19th October 2020

The struggle of humanity is now how to dribble past the ‘Great Pandemic’ in order to salvage a lean economic score. Botswana is already working on dwindling fiscal accounts, budget deficit, threatened foreign reserves and the GDP data that is screaming recession.

Latest data by think tank and renowned rating agency, Moody’s Investor Service, is that Botswana’s fiscal status is on the red and it is mostly because of its mineral-dependency garment and tourism-related taxation. Botswana decided to close borders as one of the containment measures of Covid-19; trade and travellers have been locked out of the country. Moody’s also acknowledges that closing borders by countries like Botswana results in the collapse of tourism which will also indirectly weigh on revenue through lower import duties, VAT receipts and other taxes.

Latest economic data shows that Gross Domestic Product (GDP) for the second quarter of 2020 with a decrease of 27 percent. One of the factors that led to contraction of the local economy is the suspension of air travel occasioned by COVID-19 containment measures impacted on the number of tourists entering through the country’s borders and hence affecting the output of the hotels and restaurants industry. This will also be weighed down by, according to Moody’s, emerging markets which will see government losing average revenue worth 2.1 percentage points (pps) of GDP in 2020, exceeding the 1.0 pps loss in advanced economies (AEs).

“Fiscal revenue in emerging markets is particularly vulnerable to this current crisis because of concentrated revenue structures and less sophisticated tax administrations than those in AEs. Oil exporters will see the largest falls but revenue volatility is a common feature of their credit profiles historically,” says Moody’s. The domino effects of containment measures could be seen cracking all sectors of the local economy as taxes from outside were locked out by the closure of borders hence dwindling tax revenue.

Moody’s has placed Botswana among oil importers, small, tourism-reliant economies which will see the largest fall in revenue. Botswana is in the top 10 of that pecking order where Moody’s pointed out recently that other resource-rich countries like Botswana (A2 negative) will also face a large drop in fiscal revenue.

This situation of countries’ revenue on the red is going to stay stubborn for a long run. Moody’s predicts that the spending pressures faced by governments across the globe are unlikely to ease in the short term, particularly because this crisis has emphasized the social role governments perform in areas like healthcare and labour markets.

For countries like Botswana, these spending pressures are generally exacerbated by a range of other factors like a higher interest burden, infrastructure deficiencies, weaker broader public sector, higher subsidies, lower incomes and more precarious employment. As a result, most of the burden for any fiscal consolidation is likely to fall on the revenue side, says Moody’s.

Moody’s then moves to the revenue spin of taxation. The rating agency looked at the likelihood and probability of sovereigns to raise up revenue by increasing tax to offset what was lost in mineral revenue and tourism-related tax revenue. Moody’s said the capacity to raise tax revenue distinguishes governments from other debt issuers.  “In theory, governments can change a given tax system as they wish, subject to the relevant legislative process and within the constraints of international law. In practice, however, there are material constraints,” says Moody’s.

‘‘The coronavirus crisis will lead to long-lasting revenue losses for emerging market sovereigns because their ability to implement and enforce effective revenue-raising measures in response will be an important credit driver over the next few years because of their sizeable spending pressures and the subdued recovery in the global economy we expect next year.’’

According to Moody’s, together with a rise in stimulus and healthcare spending related to the crisis, the think tank expects this drop in revenue will trigger a sizeable fiscal deterioration across emerging market sovereigns. Most countries, including Botswana, are under pressure of widening their tax bases, Moody’s says that this will be challenging. “Even if governments reversed or do not extend tax-easing measures implemented in 2020 to support the economy through the coronavirus shock, which would be politically challenging, this would only provide a modest boost to revenue, especially as these measures were relatively modest in most emerging markets,” says Moody’s.

Botswana has been seen internationally as a ‘tax ease’ country and its taxes are seen as lower when compared to its regional counterparts. This country’s name has also been mentioned in various international investigative journalism tax evasion reports. In recent years there was a division of opinions over whether this country can stretch its tax base. But like other sovereigns who have tried but struggled to increase or even maintain their tax intake before the crisis, Botswana will face additional challenges, according to Moody’s.

“Additional measures to reduce tax evasion and cutting tax expenditure should support the recovery in government revenue, albeit from low levels,” advised Moody’s. Botswana’s tax revenue to the percentage of the GDP was 27 percent in 2008, dropped to 23 percent in 2010 to 23 percent before rising to 27 percent again in 2012. In years 2013 and 2014 the percentage went to 25 percent before it took a slip to decline in respective years of 2015 up to now where it is at 19.8 percent.

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