An old tale with a new take
What Aesop’s The Fox and the Grapes can teach us about strategic growth in business.
The Fox and the Grapes
A famished fox saw some clusters of ripe black grapes hanging from a trellised vine. She resorted to all her tricks to get at them, but wearied herself in vain, for she could not reach them. At last she turned away, hiding her disappointment and saying: “The grapes are sour, and not ripe as I thought.”
People who speak disparagingly of things that they cannot attain would do well to apply this story to themselves.
Successful entrepreneurs don’t complain, they find solutions.
Putting key lessons into practice
Not every opportunity is suitable for every entrepreneur, no matter how famished they might be for new ideas — it’s sometimes better not to act on impulse and wait for more strategic positioning before chasing a new opportunity.
It doesn’t mean giving up, it means learning to look at a problem from different perspectives.
Hastiness and impatience lead to loss of clarity when making strategic decisions, and increase the risk of making decisions based on false assumptions. Patience, flexibility, methodology and good timing are important strategic elements of success in an entrepreneur’s toolbox; especially as problems become more complex and often involve many different areas and levels of professional knowledge and experience — passion isn’t everything.
Just because she wants the grapes doesn’t mean it’s in the old fox’s interests to have them in this manner and at this precise time. If she’s a successful entrepreneur, she might consider herself lucky she can’t reach the grapes, this doesn’t mean she’s going to give up; instead, she’s going to take a step back and approach the problem from a different perspective.
Finding a different angle
One entrepreneur’s opportunity is another’s complication and risk — they should pick their projects carefully and wisely. To a given problem, there are given solutions, depending on experience and levels of maturity. There was a time when the famished fox would have found a way to reach such low hanging fruit.
Instinctively, she may be disappointed she failed, but did she really give it her all? Her pride, sense of self-efficacy, curiosity and drive nags at her — there was a time when her emotions would have got the better of her — thinking the problem wasn’t with the grapes but with her attitude.
But over the years, she’s become more measured, her motivations shifting to new interests and areas of expertise.
She now has a different understanding of herself and her capabilities — she knows how to take a step back, and view the problem from a different angle. She has new skills and a mindset better adapted to visualising the big picture and thinking strategically.
The benefits of experience
After years as an entrepreneur she now has other strengths to take her projects to a new level. Her strengths lie in bringing together the different elements of her business model. Being unable to reach the grapes is a temporary setback. She knows she can’t completely eliminate risks; her aim is to reduce them to a level she can manage.
She’s done the research and has a great business idea and plan for how to process the grapes and add value by commercialising a consumer product for which she has a clear vision and a distinct market segment. She didn’t come to this spot by accident; these grapes are of the Fragolino varietal and a perfect match for her strategic needs and objectives.
She’s been working on her business model for weeks, and tried many different ways to ensure differentiation of her product in the market. According to her evaluation, backed by solid scientific and market research, the Fragolino grape is the key resource she needs for her product value proposition.
Entrepreneurs are risk management specialists, problem solvers. She needs to figure out how to harvest the raw materials she needs — a key activity in her business model — and which are currently out of reach.
A solution would be a key partner to help her secure the Fragolino grapes. A partner for whom this low hanging fruit isn’t too high; who can organise the crucial supply chain to bring the raw material to the processing plant, to be bottled, labelled, boxed and shipped to distributors.
A partner with the passion and drive to accomplish this key activity in her business model; and who could benefit from her strengths as a strategically minded experienced entrepreneur.
Leveraging partners for growth
Along comes younger fox, an aspiring entrepreneur, who spots the grapes. The older fox explains how she’s too old to take advantage of the opportunity, but has a lot of business experience and a great idea for exploiting the resource, if he’s interested in taking care of that key activity — thus turning the entire operation into a profitable business.
He certainly would love to get involved in the wine business, but he’s unsure, nervous, fearful and thinks entrepreneurship is too risky, preferring a steady job. However, she motivates him, explaining that risk is relative and requires a solid plan to mitigate its negative effects.
With her plan and his efforts and resolve they can reduce any risks to a lower level than a steady job could offer. Plus, there’s the upside benefit of much bigger financial gains, quality of life, and doing something for which he has a passion.
Combining knowledge to become a success
She offers to be his business partner and mentor; he’ll learn about the wine business, research, strategy, negotiation, how to effectively communicate with people, develop products, marketing, sales.
In her new role as mentor and partner, the old fox isn’t full of herself, thinking she knows everything. Rather, she sees the role as a great challenge and responsibility. This will be her first time as a mentor and she’s sure to learn a lot too.
They’re ready for business. This is exactly the sort of challenge the older fox loves and for which she has a passion. She knows these grapes are a special type with a unique strawberry-like taste, and perfect for small niche premium production runs targeted at luxury restaurants and fine food shops.
The younger fox benefits from her expertise and strategic planning vision, and she from his energy and resourcefulness. They are different types of entrepreneurs, each fulfilling a different function in the running of the business, contrasted yet complementary all at once.
Together they are stronger, than they would have been apart
As a partnership they stand a better chance of succeeding where alone they would have failed. At first, the old fox may have failed, but she failed fast, and quickly pivoted to find a better solution by looking at the problem from different angles.
Reframing the questions, she sought a better fit, seeking answers according to realistic facts on the ground, personal desires, strategic intents and motivations, business model experience, maturity and needs required for bringing about a successful start-up launch.
By taking her time, and a step back, thinking more methodically and strategically, she was able to take several steps forward, make smarter decisions, and a better plan — thus creating the environment for a more efficient and profitable way of working.
With the big picture in mind, she was able to zoom in on specific problems and find the ideal strategic partner to help her fulfil the needs of her business model. All preparation for the final launch action are falling into place, increasing her chances of not failing, and reducing risks to a manageable level.
If all goes according to plan, she’s already thinking about the next growth phase — to scale the business by raising capital, thanks to a carefully prepared business plan.
Famished for ideas, the old fox was determined not to quit until she’d discovered the right strategy. She would not act merely on a whim, but instead took a step back to properly calculate the risks and rewards to secure a higher probability of success — and by mentoring the younger foxes, took her game to a whole new level of personal growth and fulfilment.
For the old fox, it is better to have 50% of a business than 100% of sour grapes; or wait 50% longer for a 100% better chance of reducing risks and avoiding failure.
The younger fox thinks it’s better to have 100% of an experienced crafty fox as a mentor and actual hands-on learning-by-doing experience, than a 50% chance his office job will be unfulfiling, and teach him few practical skills with lower potential financial rewards. It’s a win/win.
How TomTom Telematics Can Keep Your Business Moving Forward
Successful businesses need to find ways to improve their margins while still delivering excellent and efficient customer service. VDM’s CEO, Deon van der Merwe, explains why this wouldn’t be possible in his business without TomTom Telematics’ solutions.
When TomTom Telematics entered the South African market in 2010, the local team took a deep dive into the different industry verticals they were servicing.
The more they got to know their customers, the more they realised a different solution was needed to address local conditions, and a subscription model was introduced whereby customers didn’t need to invest a large capital outlay into TomTom Telematics’ technology, but would receive the tech and software, including installation, at no extra cost, in exchange for a monthly subscription fee.
This model gives SMEs affordable access to TomTom Telematics’ solutions, but it’s had another benefit as well: As TomTom Telematics introduces new innovations, existing customers can benefit — without the costs associated with replacing all of their existing technology themselves.
An indispensable tool
For a transport and logistics business like VDM Group, which has more than 160 vehicles on the road, this means they have access to incredible new offerings, without needing to replace their TomTom units themselves.
“TomTom plays a critical role in our business,” says Deon van der Merwe, CEO of VDM Group. “It’s an indispensable tool in ensuring quality customer feedback and the management of KPIs for all supply chain stakeholders.
“Earlier this year, TomTom Telematics launched their New WEBFLEET product. We were very satisfied with what we had, and yet they still approached us and offered to replace all our existing units with new tablets, and they’re covering the installation costs,” explains Deon.
“New WEBFLEET is the result of TomTom innovating their product based on customer feedback from around the world, and the local team wanted to ensure we had access to the additional functionality and innovations that had been introduced.”
Seamless integration with your network
According to Deon, the new TomTom PRO 8275 units seamlessly integrate VDM’s fleet scheduling software with information they extract from TomTom, including individual vehicles’ standing time and arrival notifications.
“The software from TomTom is open API, which means that all our various applications can communicate and interact with each other,” he explains. “From a productivity perspective, we no longer need to manually capture any trip information.
In addition, we have every conceivable piece of data available that will assist us to run a leaner, more cost-effective fleet, enabling us to ensure that we are delivering on all our KPIs — particularly with regards to meeting our customers’ needs.”
VDM is a large transport business, but Deon believes the benefits for SMEs are as great, if not more so. “Many SMEs don’t have the back-office support that we do. The ability to capture and use this information without a team of admin specialists at your disposal is a huge competitive advantage for smaller businesses,” he says.
Offering you the competitive edge
VDM offers a specialised logistics service that creates custom-made options for clients. In order to ensure the most optimal and cost-effective solutions, while still ensuring top quality delivery, they need to consider special and complex individual customer requirements, from the point of origin to the point of destination, before finalising a customer-specific solution.
“We take into account a host of factors, including inventory carrying costs, volume requirements, product specific factors and route to market,” explains Deon.
“Road transport significantly impacts total supply chain costs, and if not managed properly, can have a severe impact on the sustainability of any particular channel. We try and manage this risk by continuously improving our service through innovative logistical solutions, the use of advanced technology, vertical integration and a team of passionate and talented experts.
TomTom assists in creating differentiators
“This focus has helped us to develop a market offering that includes dedicated and completely flexible inter-modal solutions, which is a big differentiator for us. TomTom Telematics plays a key role in our total productivity, helping us measure the performance of road transport across our supply chain.”
Deon believes that what you don’t measure you won’t know.
“TomTom provides updated fleet statistics that allow us to constantly benchmark our fleet against pre-defined route surveys and, in so doing, enables massive savings in fuel and total turnaround time.
Communicating via the WEBFLEET platform also helps us save time and creates a formal trail of correspondence with our drivers. I don’t believe it’s possible to successfully run a business like ours without a solution like this.”
Sasfin Continues To Support SME Growth
Sasfin’s equity stake in fintech lender Payabill set to enhance SME growth.
In another major step forward in supporting growth in SMEs, Sasfin today announced that it has acquired a strategic stake in fast-growing fintech lender Payabill.
Payabill, a 100% digital lending business, provides working capital and/or trade finance to small businesses. The collaboration between Sasfin and Payabill accelerates financing opportunities for customers.
Sasfin, South Africa’s leading business challenger bank, last year successfully launched its digital platform, B\\YOND, for SMEs.
“Sasfin has been investing in fintechs, building digital capabilities (such as B\\YOND) and working with third parties (such as XERO Accounting) for a number of years with the aim of adding value to our business and wealth clients. Payabill has made huge strides in giving businesses access to digital finance and we are thrilled to announce this investment,” says Sasfin CEO Michael Sassoon.
Payabill CEO Eli Michal launched the pioneering fintech start up in SA in 2017. Payabill settles suppliers directly for its clients and allows clients to select their own extended payment terms. “We are incredibly excited by the opportunity afforded to Payabill by having Sasfin as an equity and debt partner. Sasfin will provide access to new channels and much needed funding that enables us to support the growth of small business finance in South Africa,” says Michal.
Michal started the fintech as he “wanted to enhance access to finance for small businesses in South Africa. We all know that boosting small business creates jobs and enables growth. Traditional lenders have neglected this segment of the market due to the high costs associated with on-boarding and assessing these customers, as well as managing their credit risk. It made no sense to us that a retail consumer could get multiple forms of credit, almost instantly via electronic channels, but small businesses could not. They were being neglected. With this in mind, we set out to build a completely paperless, digital solution to address this market’s unique requirements.”
Currently, Payabill offers loans of up to R150 000 to businesses. The intention is that with the investment made by Sasfin, Payabill will be able to offer larger loans to SMEs in the near future.
The alignment of Payabill’s aims and Sasfin’s long-term focus on small business in SA made for an ideal partnership. “SMEs can now borrow digitally, via Payabill, and bank via B\\YOND from Sasfin – reducing admin and costs which often stifles small business growth. Both B\\YOND and Payabill are gaining meaningful traction in the SME market and there are a host of additional digital initiatives that we are working on to further help small businesses thrive,” says Sassoon.
“While Sasfin has always offered a trade and debtor finance solution, this was largely for more established businesses. The new offering speaks to smaller businesses that are passionate about growth, and our larger Trade and Debtor Finance offering will be there to support businesses that reach the next phase in their development,” says Sassoon.
Sasfin Holdings Limited (“Sasfin” or “the Group” or “the Company”) is a bank-controlling company listed in the “Financials: Investment Services” sector of the JSE Limited (“the JSE”). Sasfin and its subsidiaries provide a wide range of complementary banking, financial and related services.
Driving Your Business Growth Towards More Customers
Designed to help its customers get the most from their businesses through the right telematics solution, New WEBFLEET can help you reach your customers quicker, get more done, improve efficiencies, save costs and boost your revenues.
Europe’s highly regulated operating environment has made telematics ubiquitous in business. On the one hand, this means industries across the spectrum have become safer, more efficient and highly productive across the EU. On the other, it’s much harder to stand out from the crowd when everyone follows the same best practice standards.
“We don’t have those same stringent regulations in place,” says Justin Manson, Sales Director, Africa at TomTom Telematics. “Our clients have realised what a huge competitive advantage this actually offers them though.
“Locally, everyone understands the role that telematics plays in tracking what your drivers are doing right and wrong, and use it as a tool for encouraging good driving practices, but there’s so much more to this solution, and we’re making it our mission to help business owners really use it to their benefit.
“When deployed across the organisation to its full capabilities, a telematics system can radically improve productivity and workflow. Done correctly, a business can save up to 10% on its bottom line, and redeploy that cash into the company’s growth, thanks to drivers reaching customers quicker and getting more done. The right data also increases productivity and ensures better turnaround times.”
Thomas Schmidt, MD of TomTom Telematics, loves visiting South Africa for this very reason. “Because so many business owners aren’t using telematics to their full extent, there’s such a huge opportunity for us to assist businesses in their growth here,” he says. “We deliver a high-value stack of products that can change the way companies operate, and most importantly help them save money and make money. The challenge for us is educating our customers so that they understand what our solutions offer, and the incredible impact they can have on a business. We consistently improve these solutions based on customer feedback as well, making them very much from customers for customers.
“Anyone can buy a map for less than R100. Why invest in such expensive devices? The answer is because we’ve developed solutions that change lives. With the right data — and access to that data — you increase safety, simplify your business, drive efficiencies, increase your output and customer service, and ensure you are always productive and reliable — across the organisation. And that impact can be measured, and given a real ROI value.
“Imagine the impression companies that operate at that level make on their industries. They stand out from their competitors. There is so much room for growth in South Africa as we deploy these solutions.”
As an organisation, TomTom Telematics is focused on continuous growth and innovation as well, constantly learning from market conditions, its customers and industry needs to improve its product offerings.
The result is the launch of New WEBFLEET in February 2018. “We’ve increased the value we offer our customers,” says Thomas. “We’ve collated data from hundreds of thousands of customers around the world who gave us their feedback through surveys, and New WEBFLEET is a window into easy-to-use, smart fleet management that is a game changer for companies.”
“TomTom Telematics is in the business of helping businesses,” agrees Justin. “Our goal is help our customers master their challenges. The right data at your fingertips will help you change the way you operate. That’s our goal. How much cash is being left on the table in an organisation because of inefficiencies?”
Introducing New Webfleet
The smartest way to manage your vehicles and mobile workforce
TomTom Telematics’ state of the art Software-as-a-Service (SaaS) fleet management solution, with best-in-class user interface, is inspired by two decades of working together with customers to achieve more for better fleet management. New WEBFLEET is everything you need to manage your vehicles in the cloud, in real time. It allows you to monitor reports and dashboards, manage orders/workﬂow, and improve driving behaviour, safety and service, helping you save fuel and reduce costs.
Best-in-class user interface
- A future-proof platform with a completely renewed interface, based on the latest HTML5 technology and driven by continuous innovation.
- Simple and clean interface, with minimised clicks for faster working.
- Intuitive functionality, means it is more accessible for greater impact across your business.
- User rights management and state-of-the-art data handing ensures the highest level of data privacy and data security.
- Fast access to the right information.
Know where your vehicles are and where they have been. Different map options such as Google, Google Street View or satellite map are enriched with traffic information, giving you a more detailed view on what’s happening on the roads. Toggle between different types of information on the map such as traffic, addresses and areas and create specific views, so you only see the information you need.
New WEBFLEET’s dashboard gives an overview of performance at a glance. Up to 27 KPIs can be used to track the performance of vehicles, individuals, benchmark teams or give a simple overview. This helps you to track real-time performance against your pre-defined KPIs.
New WEBFLEET gives you instant access to the information that matters, meaning you can spot trends over time and use real-time information to make smarter and more informed decisions. You can instantly download or schedule reports to help you stay on top of everything — from fuel efficiency and legal compliance to quality of service.
Manage on the move
New WEBFLEET is optimised so you can manage your fleet on any device by entering WEBFLEET through a web browser or by downloading the WEBFLEET Mobile app on your smartphone.
Send routes direct to drivers
- Plan accurate routes in New WEBFLEET by adjusting multiple variables such as location, time of departure/arrival, traffic and vehicle type.
- Get a choice of alternative routes, as well as suggested fastest route with traffic.
- Customise your route by simply adding new waypoints, or dragging and dropping existing waypoints on a route. Then choose from guided or forced route* options.
- Send planned routes directly to a TomTom PRO driver terminal to keep your drivers on the right track.
Personalised Map views*
- Create your own saved map view to reach information you need fast.
- Switch between vehicle groups or areas, without needing to adjust the map filters and zoom levels. n
Many ways to customise WEBFLEET to suit individual requirements from personalised views to adding information to make what you see more informative on one page.
Plan a route the way you want it
Use multiple variables (including waypoints) to give fastest or most efficient routes.
Across different device types, allowing you to always stay on top of business.
Simple, clean and easy to administer
Toggle between views to get the right information to focus on the task in hand. Get the right information to the right people at the right time, keep data secure and in the right hands.
Send routes to driver terminals
In real time, ensure drivers follow or avoid specific routes.