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Cryptocurrencies - what about tax?

Cryptocurrencies

Cryptocurrencies have taken the world by storm but many of us have no idea what they are or how exactly they work. To add to this lack of understanding by the general public, our Regulators also seem to be stumped. In the Budget Review 2018 speech, the Finance Minister alluded to the amendment of the relevant Tax Laws to deal with Cryptocurrencies. This has to date not been done.

Given the uncertainty as to the nature of Cryptocurrency, it is important to understand where they fall in terms of current legislation and regulations for tax purposes. Cryptocurrency is defined as a digital currency that uses encryption techniques and a decentralized system to allow for transactions without using middlemen like banks.

In terms of the South African Reserve Bank Act1, the South African Reserve Bank (also known and hereinafter referred to as “SARB”) governs the management of currency and has the sole right to issue coins and notes, which is a legal tender. The SARB has stated that Cryptocurrencies do not have legal-tender status in South Africa.2

Cryptocurrencies or virtual currencies are further not defined as securities in terms of the Financial Markets Act.3 They are therefore not subject to the regulatory standards that apply to the trading of securities.

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Why great communication skills is the cornerstone to sales success

Why great communication skills is the cornerstone to sales success

If I had to ask you what your thoughts are on sales I’m guessing you’re going to say something like “it’s not for me” or “I don’t enjoy being sold to” or something similar in the line of sales having a bad rap.

I really want us to start changing our view and mindset on sales to a far more positive one. We have chatted about how sales has evolved and because sales is a lot more about relationship building, it necessarily follows that communication is the cornerstone to sales, just like sales is the cornerstone to the scale and growth of any business.

How good are your communication skills? Are you able to bring across value and insight in a sales meeting? Can you succinctly extract what the prospects pains are and marry them up with your solution?

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Do you need new clients but don't know where to start?

Do you need new clients

I think for many the idea of finding new clients can be rather daunting. Perhaps it’s the actual prospecting part of sales that we get stuck with the most.

When I speak to clients about finding new business they say to me “Just put me in front of the prospect and I’ll do the rest. I love my product and I usually walk away with the deal.” But they don’t want to prospect. Or they are no good at it.

Identifying this as a common objection amongst business owners had me thinking where would you start if you were prospecting to find new clients?

I’ve put together some tips on how to prospect effectively, and generally giving you a starting point to launch from. Once this starting point has been identified for you I believe that the sales process will flow.

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Eat the frog first thing in the morning and other great productivity tips

Eat the frog first thing in the morning

Mark Twain famously said ““Eat a live frog first thing in the morning and nothing worse will happen to you the rest of the day.”

Ahh yes, that proverbial frog - now how do we identify what that frog is? First things first, when you start your business day I would suggest that you first tackle the most unwanted task you can think of for the day.

To help you with your productivity, whether it be in sales or elsewhere, take the time the evening before to break up your action list (I prefer this as opposed to the traditional to-do list) into four categories.

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Are you resisting change?

Are you resisting change

Resistance protects us from unknown dangers. There is an interface point between change and not changing – it is the place where you will feel that you do not know what to do or what to feel’.

This is the point where you are called to gain more clarity and to make a decision. It is the place where you have to bring to light the facts and considerations that allows you to gain clarity, confidence and momentum to move forward. It is also at this point where one needs to confront your limiting mindsets and perspectives, values and beliefs and addictive patterns.

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