- Player: Sisa Ngebulana
- Company: Rebosis Property Fund (listed in 2011)
- Rebosis Consolidated group assets: R23 billion
- Awards: The Entrepreneur of the Year Award (2006 — SA), Property Developer of the Year Award (2009 — SA), Pioneer Award (2014 — SA), African Business Excellence Award (2014 — UK House of Lords) and Global Leadership Excellence Award (2016 — Global Leadership Congress).
- Visit: www.rebosis.co.za
When Sisa listed Rebosis Property Fund in 2011, it was the first black-managed and substantially held property fund to be listed on the JSE.
He is also the founder and CEO of Billion Group, a commercial and retail property developer that will spend in excess of R35 billion over the next ten years on its current projects.
It’s safe to say he’s achieved his goals and then some.
But success doesn’t come without a price. Sisa believes that adversity is the panacea of success.
Every victory has been hard won after learning a devastating lesson. Entrepreneurship is all about risk and reward — you can assess and mitigate as best you can but you have to accept there will be risks.
Take the hard knocks, learn the lessons they bring you and forge ahead with a positive attitude. That is the entrepreneurial way. That’s the real secret to success.
From adversity comes success
From adversity comes success. Remember that. When you are faced with insurmountable challenges, know that you are being honed for something great. Use the lessons and the pain and build something stronger than you were, smarter, more able to withstand further hardships.
This is a mantra Sisa Ngebulana lives by. It’s also a path he has walked numerous times. His first business caused him so much stress that to this day he believes it almost cost him his life. Yet he pushed on.
He has faced ruthless competitors, paid back millions in debt, weathered bad press, survived industry collusions attempting to freeze him out and halt his projects, and still, he has pushed on.
Because he believes that this is the path of a true entrepreneur.
The higher the risk, the higher the rewards, and Sisa has always kept his eye on the rewards, no matter what life has thrown at him.
“Entrepreneurship is a risk; things don’t always go your way,” he says, “but when (not if) they don’t, use it and learn from it. What went wrong? What could I do better? Take these lessons as a strength and move forward.”
Lesson One: Even good businesses go bad
“My grandmother made us strong,” he says with pride.
Born and raised in Mthatha by his grandparents after his father passed away in a trucking accident, Sisa was taught at an early age that while there is no guarantee of success, if you foster good habits and are disciplined, driven, self-reliant and able to take accountability for your actions and decisions, you have a much higher chance of achieving your goals.
“At any given time there were between 12 and 15 of us in the house, cousins, brothers and sisters, and we were all always working. Every day, my grandmother woke us up early and instructed us to find something to do. ‘You have two hands and two eyes,’ she’d say. ‘
You’re blessed. Now go and use them.’ She gave us the tools to make something of ourselves, but it was up to us to use them.”
It was this sense of accountability and personal responsibility that directed Sisa’s actions when his first business, a trucking and transport company, failed.
“I built the business up quickly while I was doing my articles at a law firm in Cape Town,” he says. “By the time I completed my articles I had nine trucks and decided to pursue business full time.”
The stress of an under-performing business can impact your health
The early successes did not continue though. Sisa struggled with bad debtors, and could not pay his creditors or the truck instalments to the bank.
His health started deteriorating. “I blacked out three times in a matter of weeks. The first time the doctors thought it might be kidney stones.
“The second time they decided the problem was my appendix, and scheduled an appendectomy. I was still recovering from the operation when I had my third blackout. It was at that point that my aunt, who is a doctor, told me that my problem was stress. It was clear: It was the business or me. I had to make a choice.”
Sisa chose his health. He still owed the bank R800 000, and he knew he needed to auction off his trucks and get a job to start repaying the loan.
“The bank didn’t want me to auction off the trucks — they wanted surety for the loan. Without the assets they just had my word that I would pay them back.”
Be persistent when negotiating with financiers
A skilled — and persistent — negotiator, Sisa convinced the bank to give him 36 months to repay the loan, and to let him auction off the vehicles to make the first instalments.
“I repaid the loan in 32 months. I didn’t declare bankruptcy and I didn’t walk away. The consequences of this business were mine. If you default on a loan you can carry on with your life, but you cannot get credit with a bank, and you cannot be the director of a company.
“Many people choose that path. It wasn’t going to be mine. There were too many things I wanted to achieve. I needed to do it right, deal with the challenges and get through them. Throwing in the towel would have prevented that. There will always be things outside of your control, but you need to own up to all the consequences of your actions — good or bad.”
This wouldn’t be the last time Sisa would face this decision. If anything, his next failed enterprise would make the trucking business and its problems pale in comparison.
Finding your feet and starting again when your initial plan doesn’t work out
When Sisa went off to university, he was one of five grandchildren heading off that year. His grandmother had saved enough to pay for one year for each of them. Thereafter it would be up to them to achieve good enough marks to secure bursaries or loans. Sisa took her sacrifice to heart.
For the first time he was old — and mature — enough to understand what his grandparents had done in supporting him and his four brothers and sisters, and giving them every opportunity they could. His school marks had been average. His university marks were not.
He worked harder than he had in his life, and graduated with top marks, enabling him to do his honours degree and take his pick of top law firms through which to complete his articles.
He then simultaneously studied accounting and economics through correspondence at UCT, after realising that most of his peers had legal and financial degrees. He was interested in finance and upskilling himself.
Develop skills so you can land on your feet if your business goes under
Those skills and degrees became important after his trucking business went under. “There was no shortage of job offers,” he says.
“But I needed something that paid my bills, enabled me to pay back my debt to the bank, but also furthered my career.”
That opportunity lay with Eskom’s legal department (specialising in finance). This further enabled him to complete his master’s degree at RAU. “Even though entrepreneurship was in my blood, I spent seven years at Eskom, and it proved to be invaluable experience that carries me to this day. I needed those foundations.
“Over the years, I have seen many entrepreneurs limited by their experiences — the ability to take their business to the next level eludes them.
At Eskom I learnt governance, delegation, HR, industrial relations, management and more importantly, treasury (having traded money and capital markets) — not just how to be a founder and owner, but how to successfully manage a large organisation.”
While the experience was instrumental in future successes, the salary was not enough to cover his debts, and so — with Eskom’s blessing — Sisa started investing in property. “I was upfront with Eskom about my debt from the beginning.
“My plan was to purchase land, build houses and flip the properties. Since I could have a building team doing the work with check-ins on weekends, my managers allowed it.” Sisa had experience in this area, as he’d started renovating and selling properties while he was at varsity.
His first land parcel — in Kyalami Estate — cost R22 000. Because he couldn’t qualify for a loan with his outstanding debt, he found a colleague who was interested in a business partnership, and with a R350 000 bond they built and flipped the property for a profit within six months.
Take one step at a time until you reach success
Sisa used his profits to buy the next property and slowly, one plot after the next, he developed the whole street. He paid off the bank loan and began developing high-end clusters.
His ‘side’ business was booming, and even though he was still employed by Eskom, he had now amassed some personal wealth.
It was at this point that a listed coal mining company approached Sisa to help them save the business. Their largest subsidiary company was defaulting on its debts, and the entire group was in financial trouble as a result.
“I restructured their balance sheet and got new funding from the banks,” says Sisa. But these measures weren’t enough.
The company was involved in anthracite coal mining, and international prices declined so severely that the business was unsustainable.
Once again, Sisa restructured the balance sheet and approached banks for finance, outlining his recapitalisation programme. By now he was so involved in the company’s journey that he had invested his own personal funds in it.
Have skin in the game so financiers will take you seriously
“The banks were clear that they would not give a cent unless I was involved. I’d invested everything I had into the business. I needed to make it work, and I felt assured that if I resigned from Eskom and took on the challenge, the banks would come to the party.”
They didn’t. Three months after leaving Eskom and bonding his house, plots and remaining properties to keep the business afloat until the banks came on board, Sisa realised he needed to cut his losses.
He had personally signed surety for the company’s loans, not to mention his personal debts that were tied up in the business.
“I had to face the fact that I’d lost the gamble. The risk hadn’t paid off. Holding on to the business would have just sunk us into even more debt. Admitting defeat was painful — real physical pain — and caused immense stress. But I’d learnt to recognise that stress, and the toll it takes on the mind and body, and I think I handled it better.
“In times like this, there’s no point looking back with regret. I could have stayed employed. I was making good money developing clusters on the side. It was safe and comfortable. And now it was all gone.
I couldn’t even pay my kids’ school fees, and needed to ask the school for a five-month fee hiatus. But I needed to look forward. Regrets serve no purpose. Learn from the experience; that’s all you can do.”
Selling assets to settle to company’s debt
Sisa now needed to find a way to settle the company’s debts.
“Luckily we had some highly specialised low-seam mining machines that we could sell. India and Brazil have similar coal seams, and so I spent six months travelling back and forth until I sold the equipment for R200 million. I then negotiated terms for the remaining R30 million that we owed.”
Once again Sisa was in a position where he needed to find a way to personally pay back debt, except this time it wasn’t R800 000, but R30 million.
Employment wasn’t an option — it would never be adequate to pay back that much money. Instead, he returned to his core: Property.
Dealing with R30 million debt
“I was lucky enough to have options on some land in areas like Hyde Park and Bryanston. I sold four units in Hyde Park off plan, and was able to hustle an overdraft based on those pre-sales.
From there I completed 21 clusters in Hyde Park followed by spec developments in Dainfern, Pecan Ridge and other high-end estates.” Sisa was putting into action a lesson he had learnt while watching his grandparents growing up — success is cyclical.
You can be abundant one minute, and have nothing the next, but if you keep moving forward, you can build that abundance again. You just need to get started and then build on each small success.
“The coal mining business was a financial blow, but it was also a blessing in disguise. It forced me out of employment. If it hadn’t, I might still be employed today, and I would never have achieved what I have through the Billion Group and Rebosis.”
Push yourself out of your comfort zone
Throughout his career, Sisa has consistently pushed himself out of his comfort zones. Residential development was going well, but he was up for the next challenge, and so he set his sights on commercial properties.
“You can’t let the fear of failure hold you back,” he says. “You also can’t let a lack of experience stop you trying new things and taking on new challenges.”
That challenge would take the form of an old commercial property in Pretoria that Liberty was selling.
“Corporates were making the move from the old commercial CBD hubs to decentralised locations like Sandton, and they left some really nice buildings behind that could be picked up for nothing.
“The problem was that they carried a lot of risk. For example, Liberty’s building was selling for R60 million, but the bottom two floors in the basement were flooded, and all-in there was R120 million worth of work that needed to be done.
“In addition, I needed to start refurbishing floors before the deal went through so that I could attract tenants to the building, as I couldn’t have it sitting idle after Liberty moved out. I’d spent R4 million by the time the deal went through.”
Be persistent to achieve success
But getting the deal wasn’t easy. Sisa approached RMB five times to finance it, and each time they said no. “The reason for the ‘no’ changed each time I went back to them. To be honest, I don’t know why I kept going back, but I was determined to make it happen.”
On the sixth attempt, Sisa was told that unless he had R10 million to put up as collateral, they didn’t want to hear from him again.
“My response was that this was fantastic. They couldn’t understand my excitement. It was still technically a no. But I saw it as a yes; I understood what I needed to do now — I had a goalpost that I could work with, and would eventually do a deal with the bank.”
All-in the Liberty building cost R85 million to develop: R40 million to purchase the property, and R45 million for the construction. Contractors quoted Sisa R120 million to refurbish the building, and he used that to negotiate Liberty down from R60 million to R40 million.
However, the agreement with RMB was for R60 million, of which they would put up R30 million.
“I jostled together the rest, did the construction myself to keep costs down, which was why I was able to do the job for R45 million instead of R120 million, and I had my first commercial building.”
It was a 26-story building, and Sisa secured tenants up to the 18th floor and was then able to refinance the building. “Within 18 months it was valued at R180 million.” And just like that, Billion Group was in the commercial property sector, building and refurbishing properties in the Johannesburg and Pretoria CBDs.
The case for Regional Malls: Finding a new challenge
The interesting thing about success is that it’s actually quite boring, and Sisa soon realised that he loves a challenge. “The thing about properties, whether they’re residential or commercial, is that once you’ve sold the property or have a tenant in, you’ve done it. Money goes into the bank and there’s nothing really left to do.
“I wanted something in the property space that was a real challenge.” That something was regional shopping centres. “The risks were high, assessing and mitigating them is scientific. You need to do your homework properly, but the idea of sinking my teeth into that space was incredibly exciting.”
Even so, Sisa did not yet fully appreciate that a project of that scale can produce challenges from places you never expect them, and these can destabilise both you and the project.
“My first regional mall was Mdantsane City in the Eastern Cape. From the moment I secured the contract the challenges began. First, I couldn’t find a contractor that wasn’t R20 million over my budget.
It was my first real introduction to the reality that collusion does exist. I gave the earthworks contract to a separate company and began blasting the site while I continued to look for a building contractor.
“The site was almost solid rock, and needed 84 blasts to prepare for construction. Each blast is carefully planned, and signed off by the SAPS and bomb unit. On the 75th blast, someone died.
A local mental hospital had been evacuated as per blasting standards, but one patient had returned to her bed without anyone realising. During the blast, a rock flew out in an unexpected direction, and went through the hospital’s roof, through the ceiling and hit the patient on the head.
“It was a freak accident, and the earthworks company was cleared of any wrongdoing — they had followed protocols to the letter — but there was a deep emotional impact. Someone had died. I shut down the site while we processed and came to terms with what had happened.
“Then, two months later, some kids cut through the fence to play on soil heaps that were being moved by the earthworks machines, and a child was buried alive. This time I shut the site down for six months.
When your path is tested, have faith to carry on
“I questioned everything: What I was doing, why I was doing it, my emotional state and our purpose. I was brought up in a devote Christian home, and my faith has always been a great source of strength to me. We had prayers over the site with pastors and churches.
“Eventually, we reopened. We had loans that needed to be paid, and the only way to do that was to build an operational regional mall that could generate income. And so we went back to work. By this stage we had fallen behind and needed to make up lost time.
“Retailers charge developers heavy penalties if malls don’t open on time. They need to order stock and hire employees, and so every day that a mall doesn’t open costs them money — which they pass on to the developer.
“I had found a contractor in Mthatha, but I realised his pace was too slow — there was no way we would finish on time at his current pace.” Even though he and his team had no experience in projects of this size, Sisa took over the construction of the project and managed to complete it on time.
While he was finishing Mdantsane, Sisa was already bidding on another parcel of land, this time in East London.
“The site was perfect; it belonged to Tsogo Sun, which had a casino on the property, but was looking to sell a section to develop a mall.”
When Sisa first bid on the property, it was R15 million; soon other bidders entered the fray, pushing the price up to R45 million.
Although Billion Group would ultimately win the project, the delay meant that three other developers with different sites around East London had been able to approach retailers, who had committed to the various projects.
“There was only room for one regional mall,” says Sisa. “Luckily, the big retailers were split over all three competing sites, which meant no one could yet declare their site the winner. If I wanted to build my mall, I needed to win over the retailers.” This is exactly what Sisa did.
It wasn’t easy. They had already committed to other projects with much bigger, more established developers, and didn’t even want to meet with an unknown player who was new to the space. So Sisa camped out at their executive offices until they agreed to see him.
“I spent the whole day sitting in the reception of the CEO of one of the big five retailers,” Sisa recalls. “At 5pm he felt so bad that I’d been there the entire day that he agreed to give me five minutes.”
The pair hit it off, and two hours later Sisa promised to fly the retailer and his executives down to East London and put them on a helicopter so that they could view all three sites. “Ours was hands down the best location coming off the highway. I left it up to them to judge which site they wanted to be at, but the tactic worked. Within six weeks, all five major retailers were on board. This sealed our fate and destroyed our competition.”
For Sisa, the challenges were just beginning. None of the major construction companies wanted to work with him. They had JVs with other smaller contenders, and even though building Hemingways would be a lucrative R1,2 billion construction job, contractor after contractor said no.
Eventually, Sisa approached the management team of the top contractor in the sector and offered them all equity in a new entity. They turned him down flat. “So I started stalking the MD,” he says. “He called me and told me to stop talking to his friends and family, and showing up everywhere he went. But he agreed to discuss the job opportunity.”
Once Sisa convinced the MD, the rest of his team followed. The company received 17 resignations on the same day. “They were beyond furious with me. I received a call from the CEO, raging at me. I let him rage.
I figured it was the least I could do. However, at the end of the phone call he told me that he would squeeze me out — no supplier in the whole of South Africa would do business with me after he had contacted them.
“Unfortunately, he had the power to do just that. We had to open within 26 months and I’d already lost two months. I needed to make a plan, and no one would work with us. We got shut out completely.
“We couldn’t get cranes, equipment, cement, shutters — even the concrete supplier refused to work with us. I flew with the team to Dubai to get our shutters, Austria for our cranes and Germany for our cement.
We batched our own concrete on site, bent our own steel — we did everything ourselves and we finished the mall in 24 months. It was one of our greatest achievements.”
Completing the development wasn’t the end of Sisa’s challenges, however. The construction ran R180 million over spec because everything had to be imported, and when the mall opened in October 2009, South Africa was already feeling the effects of the recession.
“The banks had tightened their belts and most of my small tenants, including restaurants and boutiques, couldn’t get funding nor pay their rent. I suddenly had a 15% vacancy, which accounted for 27% of my income. We had massive over-runs and I had to scratch around and sell assets to make ends meet.”
It was the second time in his life that Sisa’s health suffered as a result of a setback. Again, he recognised the signs and managed his blood pressure and overall health more effectively.
For Sisa, overcoming adversity in business and life had become a necessary skill. The attempts by big corporates to squeeze him out were just the beginning of his challenges in the sector. “Forest Hill was delayed in court for six years — up until one month before we opened we were in court against another developer who wanted to shut us down.
“The Baywest site in Port Elizabeth was built as a JV after we finally decided to work with the developer of the site adjacent to ours, instead of continuing to fight each other in court for the development. It’s a very competitive industry.”
But with the right vision, guts and determination, it’s also incredibly rewarding. “When we built BT Ngebs, which I named after my grandfather, in Mthatha, everyone said I was crazy.
A regional mall would never work there. Not only has it been incredibly successful over the past two years, but we are now building our first four-star hotel and entertainment node that includes movies, a casino and restaurants.
In fact, Sisa’s appetite for risk and his continuous quest for challenges has led to Billion Group becoming a precinct developer. Regional malls and smaller centres form the catalyst for these precincts.
As with Baywest, first the mall is built, and then the entire precinct around it — including industrial parks, office buildings, hospitals and big automotive showrooms.
“We’ve reached a point where if we create the catalyst, they will come — we’re creating our own work as a developer.” In fact, in its current projects alone, Billion Group has R35 billion worth of development lined up for the next ten to 15 years. “And we always come in a few years ahead of target,” he says.
SA’s first black-managed and held company on the JSE
In 2010, Sisa consolidated his assets and formed a company called Rebosis Property Fund, which he listed on the JSE in May 2011. It was the first black managed and held property company on the JSE, as well as the largest IPO in the property sector.
Sisa kept his development assets in Billion Group, but moved the income assets into Rebosis. This included four commercial buildings and four shopping malls. The total value of assets was R3,6 billion, and the company had a market cap of R2 billion.
The IPO raised R1,6 billion, of which 40% to 45% covered debt still held by banking partners. Over the last six years Sisa has grown Rebosis into a R23 billion company that includes three malls in the UK.
Again in 2016, Sisa experienced major challenges as a consequence of market and financial media skepticism relating to the transaction between Billion Group and Rebosis.
“When I created and listed Rebosis, Baywest and Forest Hill were still vacant land, and were not included in the asset transfer. Rebosis is not a development business due to the higher risk associated with development.
“Once these properties were developed and opened after one-and two years respectively however, I sold them to Rebosis for R2,2 billion each. I also sold an asset management company and a property management business for an additional R560 million.”
There was huge pushback from analysts who questioned whether other shareholder interests were impacted by the fact that Sisa was the buyer and seller.
“There was a lot of enmity in the market; distrust and unwarrented negative publicity. Numbers were misquoted and shareholders got nervous. It took a toll on me. Competitors, sceptics and some analysts worked tirelessly to sabotage the process; major shareholders instigated negative media publicity.
“It was incredible watching how vicious they became. This resulted in a share price drop, as two shareholders swopped shares with a competitor who was quietly planning a hostile takeover, and had put pressure on major institutional shareholders to swap
“You can view these challenges as a disaster, or as an opportunity. I went straight to my boards and shareholders to build back their trust. I had to work really, really hard, but I ended up in a stronger position than when this all started.
“Six months later we concluded the transaction with 88% shareholder approval, which is exceptional. Unfortunately, I’ve found myself with a 20% hostile shareholder whom I’m still dealing with to
Share prices quickly stabilised however, and over the course of the last five years, Rebosis has enjoyed a minimum growth of 8% per year, peaking at 11% in some years. This is in line with the property sector, which has been the top performing sector in the last three consecutive years.
It’s just one more lesson on that perilous road to entrepreneurial success. But if you keep your head held high and face each and every challenge — the journey will always be worth the price.
Expert Advice From Property Point On Taking Your Start-Up To The Next Level
Through Property Point, Shawn Theunissen and Desigan Chetty have worked with more than 170 businesses to help them scale. Here’s what your start-up should be focusing on, based on what they’ve learnt.
- Players: Shawn Theunissen and Desigan Chetty
- Company: Property Point
- What they do: Property Point is an enterprise development initiative created by Growthpoint Properties, and is dedicated to unlocking opportunities for SMEs operating in South Africa’s property sector.
- Launched: 2008
- Visit: propertypoint.org.za
Through Property Point, Shawn Theunissen and his team have spent ten years learning what makes entrepreneurs tick and what small business owners need to implement to become medium and large business owners. In that time, over 170 businesses have moved through the programme.
While Property Point is an enterprise development (ED) initiative, the lessons are universal. If you want to take your start-up to the next level, this is a good place to start.
Risk, reputation and relationships
“We believe that everything in business comes down to the 3Rs: Risk, Reputation and Relationships. If you understand these three factors and how they influence your business and its growth, your chances of success will increase exponentially,” says Shawn Theunissen, Executive Corporate Social Responsibility at Growthpoint Properties and founder of Property Point.
So, how do the 3Rs work, and what should business owners be doing based on them?
Risk: We can all agree that there will always be risks in business. It’s how you approach and mitigate those risks that counts, which means you first need to recognise and accept them.
“We always straddle the line between hardcore business fundamentals and the relational elements and people components of doing business,” says Shawn. “For example, one of the risks that everyone faces in South Africa is that we all make decisions based on unconscious biases. As a business owner, we need to recognise how this affects potential customers, employees, stakeholders and even ourselves as entrepreneurs.”
Reputation: Because Property Point is an ED initiative, its 170 alumni are black business owners, and so this is an area of bias that they focus on, but the rule holds true for all biases. “In the context of South Africa, small black businesses are seen as higher risk. To overcome this, black-owned businesses should focus on the reputational component of their companies. What’s the track record of the business?”
A business owner who approaches deals in this way can focus on building the value proposition of the business, outlining the capacity and capabilities of the business and its core team to deliver how the business is run, and specific service offerings.
“From a business development perspective, if you can provide a good track record, it diminishes the customer’s unconscious bias,” says Shawn. “Now the entrepreneur isn’t just being judged through one lens, but rather based on what they have done and delivered.”
Relationship: “We believe that fundamentally people do business with people,” says Shawn. “There needs to be culture match and fluency in terms of relations to make the job easier. As a general rule, the ease of doing business increases if there is a culture match.”
This relates to understanding what your client needs, how they want to do business, their user experience and customer experience. “We like to call it sharpening the pencil,” says Desigan Chetty, Property Point’s Head of Operations.
“In terms of value proposition, does your service offering focus on solving the client’s needs? Is there a culture match between you and your client? And if you realise there isn’t, can you walk away, or do you continue to focus time and energy on the wrong type of service offering to the wrong client? This isn’t learnt over- night. It takes time and small but constant adjustments to the direction you’re taking.”
In fact, Desigan advises walking away from the wrong business so that you can focus on your core competencies. “If you reach a space where you work well with a client and you’ve stuck to your core competencies, business is just going to be easier. It becomes easier for you to deliver. Sometimes entrepreneurs stretch themselves to try to provide a service to a client that’s not serving either of their needs. This strategy will never lead to growth — at least not sustainable growth.”
Instead, Desigan recommends choosing an entry point through a specific offering based on an explicit need. “Too often we see entrepreneurs whose offerings are so broad that they don’t focus,” he says. “Instead, understand what your client’s need is and address that need, even if it means that it’s only one out of your five offerings. Your likelihood of success if you go where the need is, is much higher.
“Once you get in, prove yourself through service delivery. It’s a lot easier to on-sell and cross sell once you have a foot in the door. You’re now building a relationship, learning the internal culture, how things work, what processes are followed and so on — the client’s landscape is easier to navigate. The challenge is to get in. Once you’re in, you can entrench yourself.”
Desigan and Shawn agree that this is one of the reasons why suppliers to large corporates become so entrenched. “Once you’re in, you can capitalise from other needs that may have emanated from your entry point and unlock opportunities,” says Shawn.
Building a sustainable start-up
While all start-ups are different, there are challenges most entrepreneurs share and key areas they should focus on.
Shawn and Desigan share the top five areas you should focus on.
1. Align and partner with the right people
This includes your staff, stakeholders, partners, suppliers and clients. Partnerships are the best thing to take you forward. The key is to collaborate and partner with the right people based on an alignment of objectives and culture. It’s when you don’t tick all the boxes that things don’t work out.
2. Make sure you get the basics right
Never neglect business fundamentals. Do you have the processes and systems in place to scale the business?
3. Understand your value proposition
Are you on a journey with your clients? Is your value proposition aligned to the need you’re trying to solve for your clients? Are you looking ahead of the curve — what’s the problem, what are your clients saying and are you being proactive in leveraging that relationship?
4. Unpack your value chain
If you want to diversify, understand your value chain. What is it, where are the opportunities both horizontally and vertically within your client base, and what other solutions can you offer based on your areas of expertise?
8. Don’t ignore technology
Be aware of what’s happening in the tech space and where you can use it to enable your business. Tech impacts everything, even more traditional industries. Businesses that embrace technology work smarter, faster and often at a lower cost base.
Ultimately, Desigan and Shawn believe that success often just comes down to attitude. “We have one entrepreneur in our programme who applied twice,” says Shawn. “When he was rejected, he listened to the feedback we gave him and instead of thinking we were wrong, went away, made changes and came back. He was willing to learn and open himself up to different ways of approaching things. That business has grown from R300 000 per annum to R20 million since joining us.
“Too many business owners aren’t willing to evaluate and adjust how they do things. It’s those who want to learn and embrace change and growth that excel.”
Networking, collaborating and mentoring
Property Point holds regular networking sessions called Entrepreneurship To The Point. They are open to the public and have two core aims. First, to provide entrepreneurs access to top speakers and entrepreneurs, and second, to give like-minded business owners an opportunity to network and possibly even collaborate.
“We believe in the power of collaboration and networking,” says Desigan.
“Most of our alumni become mentors themselves to new entrants to the programme. They want to share what they have learnt with other entrepreneurs, but they also know that they can learn from newer and younger entrepreneurs. The business landscape is always changing. Insights can come from anywhere and everywhere.”
The To The Point sessions are designed to help business owners widen their network, whether they are Property Point entrepreneurs or not.
To find out more, visit www.ettp.co.za
Bain & Company Give You The Data On How To Become 40% More Productive
Top performing organisations get more done by 10am on a Thursday than most companies achieve in a full week. They don’t have more talented employees than everyone else though — they’re working with the same people and tools as you. Michael Mankins unpacks what separates these businesses from everyone else, and how you can learn to be more like them.
- Player: Michael Mankins
- Company: Bain & Company
- Visit: www.bain.com/offices/johannesburg/
“Engaged employees are 45% more productive than satisfied employees. An inspired employee is 55% more productive than an engaged employee and 125% more productive than a satisfied employee.”
When Bain & Company partner, Michael Mankins evaluates businesses, he clearly distinguishes between efficiency and productivity. Efficiency is producing the same amount with less — in other words, finding and eliminating wastages. Productivity, on the other hand, is producing more with the same, which requires an increased output per unit of input and removing obstacles to productivity.
Interestingly, when businesses face challenges or tough operating conditions, the first response is always to become more efficient, instead of more productive. Restructuring and ‘rightsizing’ are the result. The problem, says Michael, is that when companies take people out, they don’t take the work out, and so the people end up coming back, along with the costs.
A better response, he says, is to identify the work that could be removed to free up time, which could then be invested in producing higher levels of output.
While businesses have become very good at tracking the productivity levels of blue-collar and manufacturing workers, tracking the productivity of knowledge workers is entirely different.
“There’s no data around white-collar productivity,” says Michael. “The problem is that the world is shifting towards knowledge work, and so, if we can’t measure productivity, output and obstacles in that space, businesses will never get the great levels of performance they’re looking for.”
Because of a complete lack of statistics in this area, when Michael and his colleague, Eric Garton, were approached by Harvard Business Review Press to write a book dealing with this issue, they had to devise a way of looking at the relative productivity of organisations comprised of white-collar workers.
The results were unexpected. “We were asked to research the difference between top performing organisations (the top quartile) compared to average organisations. I honestly thought the answers would be obvious, even if we didn’t yet have the tools to track them. I thought the best companies would have the best people. That’s 90% of the answer. Simple as that.”
As it turned out, it wasn’t that simple at all. Of the 308 organisations in the study, drawn from a global pool, the average star performer or A-player was one in seven employees. This statistic held true whether the company was in the top 25% of performers or an average performer. The difference was that the top performing businesses were 40% more productive than their counterparts — and yet their mix of talent, on average, was the same.
“There were some exceptions, but on the whole, the best in our research accomplishes as much by 10am on a Thursday as the rest do the whole week. And they continue to innovate, serve customers and execute on great ideas — all with the same percentage of A-players as other, more mediocre businesses.”
So, what were the differentiating factors?
What’s dragging your organisation down?
First, we need to understand how Michael and Eric approached their research before we can understand — and implement — their conclusions.
“We began with the notion that every company starts with the ability to produce 100 if they have a workforce that’s comprised of average talent, that’s reasonably satisfied with their job and can dedicate 100% of their time to productivity — bearing in mind that no-one can dedicate 100% of their time to productive tasks.
“The question we were focusing on was around bureaucratic procedures, complex processes and anything else that wastes time and gets in the way of people getting things done, but doesn’t lead to higher quality output or better service to customers. That’s what we call organisational drag. You start at 100 and then the organisation drags you down. The good news is that you can make up for organisational drag in three ways: First, you can make better use of everyone’s time. Second, you can manage your talent better by deploying it in smarter ways, which includes placing it in the right roles, teaming it more effectively and leading it more effectively. Third, you can unleash the discretionary energy of your workforce by engaging them more effectively.”
This trifecta — time, talent and energy — became the basis for Michael and Eric’s book, Time, Talent, Energy: Overcome Organizational Drag & Unleash Your Team’s Productive Power. “The way you manage the scarce resource of talent can make up for some, potentially even all, of what you lose to organisational drag,” says Michael.
What the research revealed: Time
“Wasted time is not an individual problem,” says Michael. “It’s an organisational problem. The symptoms include excess emails and meetings and far more reports being generated than the business needs to operate.”
These are all manifestations of an underlying pathology of organisational complexity, which is managed by senior leadership. “The best companies lose about 13% of their productive activity to organisational drag. The rest lose 25%. The most important thing is to reduce the number of unnecessary interactions that workers are having. That means meetings and ecommunications need to be relooked.”
The easiest manifestation for Michael and Eric to observe were hours committed to meetings and how much time workers spend dealing with ecommunications. What’s left-over is the time people can actually get some work done.
What they found is that the average mid-level manager works 46 hours a week. 23 hours are dedicated to meetings and another ten hours to ecommunication. That leaves 13 hours to get some work done — except that it doesn’t.
“It’s difficult to do deep work in periods of time less than 20 minutes. When we subtracted all the other distractions that happen daily, we were left with just six and a half hours each week to do work.” What’s even scarier about this statistic is the fact that meeting work and ecommunication time is increasing by 7% to 8% each year and doubles every nine years. If left unchecked, no-one will have the time to get any work done. “This is why everyone plays catch-up after hours and on weekends,” says Michael.
“One of my clients told me that his most productive meeting is at 6.30am on a Saturday, because it doesn’t involve one minute that isn’t required or one individual that doesn’t absolutely need to be there. If the same meeting was held at 2pm on a Tuesday, there’d be twice as many people, it would be twice as long and there’d probably be biscuits.”
The point is clear: We don’t treat time as the precious resource that it is, and if we did, we would radically shift our behaviour.
Start by asking what work needs to be done and then figure out the best structure to do that work. “Don’t confuse having a lean structure that does the wrong work with being effective,” says Michael. “One of the biggest problems we see is that companies are not particularly good at stopping things. Things get added incrementally, but nothing ever gets taken away. For example, we found that 62% of the reports generated by one of our clients had a producer — but no consumer. Time, attention and energy was invested in reports that no one needed and no one read.
“Ask yourself: How many initiatives have you shut down? If you made the decision that you could only do ten initiatives effectively, and each time you added an initiative, one had to be eliminated, what would your organisation look like?
“Unless you routinely clean your house, it gets cluttered. The same is true of companies. Initiatives spawn meetings, ecommunications and reports, which all lead to organisational drag.”
What the research revealed: Talent
According to Michael, the biggest element in their research that explained the 40% differential in productivity is the way that top performing organisations manage talent.
“We conducted research in 2017 that revealed the productivity difference between the best workers and average employees. Everyone knows that A-level talent can make a big difference to an organisation’s performance, but not everyone knows just how big that difference is.”
To put it in context, the top developer at Apple writes nine times more usable code than the average software developer in Silicon Valley. The best blackjack dealer at Caesars Palace in Las Vegas keeps his table playing at least five times as long as the average dealer on the Strip. The best sales associate at Nordstrom sells at least eight times as much as the average sales associate walking the floor at other department stores. The best transplant surgeon at Cleveland Clinic has a patient survival rate at least six times longer than that of the average transplant surgeon. And the best fish butcher at Le Bernadin restaurant in New York can portion as much fish in an hour as the average prep cook can manage in three hours.
It doesn’t matter what industry you investigate, A-level talent is exponentially more productive than everyone else.
This is why Michael thought that the obvious answer to why some organisations perform better than others is the mix of talented employees they’ve attracted.
“When we asked senior leaders to estimate the percentage of their workforce that they would classify as top performers or A-level talent, the average response was slightly less than 15%. And that’s despite the fact that most companies have spent vast sums of money in the so-called war for talent.”
The big difference, as Michael and Eric discovered, is how that talent is deployed. “It’s what they do with that one in seven employees that makes the biggest difference,” says Michael. “Most companies use a model called unintentional egalitarianism, which basically means that they spread star talent across all roles. The best on the other hand, are more likely to deploy intentional non-egalitarianism. They ensure that business-critical roles are held by A-level talent.”
The challenge is that approximately 5% of the roles in most companies explain 95% of a company’s ability to execute its strategy, and very few organisations articulate which roles those are — but the ones that do tend to be top performers.
“There’s an excellent historical example of this at work,” says Michael. “Between 1988 and 1994, Gap was a high-flyer in the retail sector. They performed globally on all levels — they grew faster than anyone else, were more profitable, had higher shareholder returns, and were the most admired company.
“During that time period, the organisation was led by Mickey Drexler, and his strategy was to focus on what he believed was Gap’s critical role, which was merchandising. He wanted every merchandiser to be a star. ‘No one will tell us what the colour is this year — we’re going to tell the world. We’re going to determine which styles are in and what everyone will be wearing.’
“And they did. If you want proof that Gap’s merchandisers were in fact stars during that period, you can look at today’s CEOs and COOs of the world’s largest retailers. Most of them were merchandisers at Gap during those years.”
The challenge of course is that everyone is always trying to hire stars, and yet only 15% of employees can be described as A-level talent. What can organisations do to utilise their stars wisely?
“First, move a star into a different position if they’re not in a business-critical role. To achieve this, how you define a star might have to change. Some companies hire for positions, and others hire for skills across positions. Stars, in my view, are more the latter. They can learn different skills and fill different roles.
“Second, start defining your business-critical roles. If you ask executives what percentage of their roles are business critical, most say 54%. They’re not discerning. It’s unintentional, because they don’t want to signal to their workers who aren’t in a business-critical role that they’re not as valuable to the organisation, but the reality is that people figure it out anyway, and you just end up with business-critical roles that aren’t filled by the right people, and stars in positions that anyone else could fill.”
Teams perform better than individuals
To understand how important teams are when deploying talent, Michael uses an example from the world of racing — Nascar in the US to be precise.
“Between 2008 and 2011, there was one pit crew that outperformed everyone else on the track,” he says. “A standard pit stop is 77 manoeuvres, and this crew could complete them in 12,12 seconds, which was faster than any other team. However, if you took one team member out and substituted them with an average team member, that time jumped to 23 seconds. Substitute a second team member, and it was now 45 seconds. The lesson is simple: As the percentage of star players on a team goes up, the productivity of that team goes up — and it’s not linear.”
Michael and Eric also discovered that the role leadership plays on team productivity is both measurable and exponential.
“In 2011, the National Bureau of Economic Research wanted to quantify the impact of a great boss on team productivity. They found that a great boss can increase the productivity of an average team by 11%, which is the same as adding another member to a nine-member team.
“If you take that same boss and put them in charge of an all-star team, productivity is increased by 18%, and this is with a team whose productivity was exponentially higher to begin with. Great bosses act as a force multiplier on the force multiplier of all-star teams.”
According to Michael and Eric’s research however, what most organisations tend to do is place a great boss with an under-performing team in the hopes of improving them, when what they should be doing is pairing great bosses with great teams.
“We did a survey that asked a simple question: When your company has a mission-critical initiative, how do you assemble the team? A: Based on whomever is available. B: Based on perceived subject matter expertise. C: We attempt to create balanced teams of A, B and C players to foster the development of the team. D: We create all-star teams and we put our best leaders in charge of them.
“We thought everyone would answer D. We were wrong. 30% of our bottom three quartiles answered B, closely followed by C, and then A. Only 8% of them answered D.
“The results were very different in our top-performing quartile though. There, 81% of respondents answered D. In other words, the 25% most productive companies in our study set were ten times more likely to assemble all-star teams with their best players than the remaining 75% of the organisations in our research.”
How talent is deployed makes a difference. “I recently had this highlighted for me through another sporting analogy. The world record for the 400-metre relay is faster than the 100-metre dash multiplied four times. How is that possible? When your role is clear and your position is clear, the handoff is seamless. Under these conditions, the best teams outperform a collection of the best individuals.” Michael does offer a word of advice though.
“Don’t fall into the trap of believing that if you do have the best talent, you don’t need to worry about anything else. I don’t believe that’s true. There are always higher levels of performance that can be achieved because there are always areas you can improve on.”
What the research reveals: Energy
According to Michael, employee engagement and inspiration is a hierarchy. “There are a set of qualifiers that have to be met just to feel satisfied in your job: You need to feel safe, have the resources you need, feel that you’re relatively unencumbered in getting your job done every day and that you’re rewarded fairly.
“To be engaged, these all need to meet, and more. Now you also need to feel part of a team, that you’re learning on the job, that you’re having an impact and that you have a level of autonomy.”
Inspiration takes this a step further. “Inspired employees either have a personal mission that is so aligned with the company’s mission that they’re inspired to come to work every day, or the leadership of their immediate supervisors is incredibly inspiring, or both.”
Why does this matter? Because how satisfied, engaged or inspired your employees are has a real, tangible impact on productivity. “Engaged employees are 45% more productive than satisfied employees. An inspired employee is 55% more productive than an engaged employee and 125% more productive than a satisfied employee.”
The really scary statistic is that 66% of all employees are only satisfied or even dissatisfied with their jobs, 21% are engaged, and only 13% are inspired. “These statistics are pretty constant, although top organisations can improve their engaged and inspired ratios,” says Michael. “What we found amongst those companies that did have more engaged and inspired workers was that they all tended to believe that inspiration can be taught. It’s not innate. You can become an inspirational leader with the right attitude and training.
“For example, one organisation surveys its employees every six months and specifically asks workers to rate how inspirational their leaders are. If you’re rated uninspiring by your team for the first time, you’re given training. If, six months later, you’re still rated uninspiring, you’re given access to a coach to evaluate why the tools aren’t working for you.
“By the third, two questions are asked: Should you be a leader, and should you be at the company? Many productive employees can be effective individual contributors but aren’t necessarily leaders, or aren’t happy as leaders, and would best serve the organisation in a different role. The second question is tougher, but even more important. If an inspired employee is 55% more productive than an engaged employee and 125% more than a satisfied employee, an uninspiring leader is a tax on the performance of the company, and there has to be a consequence to that. We have to constantly enrich our workforce and leaders need to be included in that.”
The problem is that very few organisations are asking how inspiring their leaders are. “If you don’t know if your employees are engaged or if your leadership is inspiring, you can’t address it,” he says. “You can take a satisfied employee and make them engaged, but you can’t inspire someone if they aren’t first engaged — that’s the hierarchy. Employee engagement is largely achieved through the way you manage teams. You have to give people the sense that they are having an impact, working within a team and learning. Get that right, and you’ll unlock a powerful level of discretionary energy that will drive productivity in your organisation.”
Time, Talent, Energy: Overcome Organizational Drag and Unleash Your Team’s Productive Power, by Michael Mankins and Eric Garton, focuses on the scarcest resource companies possess — talent — and how it can be utilised to drive productivity.
Visit www.timetalentenergy.com to find out more.
7 Foundational Values Of Brand Cartel And How They Grew an Iconic Business From The Ground Up
Marco Ferreira, Renate Albrecht and Dillon Warren built Brand Cartel, a through-the-line agency, that delivers exactly what they wanted — and has grown exponentially as a result.
- Players: Marco Ferreira, Renate Albrecht and Dillon Warren
- Company: Brand Cartel
- Launched: 2013
- Visit: brandcartel.co.za
“We’d never worked at agencies, which meant we had no idea how much you need to run an agency. We grew into it. It’s made us really good at what we do.”
When Dillon Warren, Renate Albrecht and Marco Ferreira launched Brand Cartel in 2013 they were in their early 20s with zero agency experience between them. The idea had started when Marco recognised that social media was taking off, but no agencies were playing in that space yet. It was a clear opportunity.
Printing flyers that said ‘Your social media is so last season’, Marco and Renate went from store to store in Sandton City, pitching their services. When Dillon joined them a few months later because they needed someone to handle the company’s finances, they had two laptops between them, R6 000, which Dillon had earned from a Ricoffy advert, and sheer will and tenacity.
“We shared a house to save on rent and split everything three ways,” says Renate. “At one point we hadn’t eaten in two days. My mom lent me R500 so I could buy Futurelife and a bag of apples for the three of us.”
The trio hired their first employee soon after launching Brand Cartel, and after prioritising salaries and bills, there wasn’t much leftover. “Dillon actually paid us R67 each one month,” laughs Marco. “That’s what was left — although I still can’t believe he actually sent it to us.” It was at this point that the young business owners realised they needed credit cards if they were going to make it through their start-up phase — not an easy feat when your bank balance is under R100.
“Looking back, those days really taught us the value of money,” says Dillon
“We spent a lot of time with very little, and we’re still careful with money today.” Through it all though, the partners kept their focus on building their business. “It almost didn’t work for a long time. We were young and naïve, but in a way, that was our strength. We didn’t have any responsibilities, and we’d never worked at agencies, which meant we had no idea how much you need to run an agency. We grew into it. It’s made us really good at what we do. All of our business has been referral business. It takes time, but we focused on being the best we could be and giving everything we had to our clients. Our differentiator was that we really cared, and were willing to offer any solutions as long as they aligned with our values.”
This is how Brand Cartel has grown from a social media agency into PR and Media Buying, SEO and PPC Strategy, Digital and Print Design, Web Development, Campaign Strategy and now an Influencer division. “It’s an incredibly competitive space with low barriers to entry, which meant it was easy to launch, but tougher to build a client base,” says Renate. “I’d sometimes cry in my car between sales pitches, and then walk in smiling. We had no idea if we’d make it.”
The perseverance has paid off though. Strong foundations have laid the groundwork for exponential growth over the past year, with turnover growing almost ten-fold in 2017 thanks to relationship-building, strong referrals and fostering an internal culture and set of values that has driven the business to new heights as a team.
Like many start-ups, Renate, Dillon and Marco have made their fair share of hiring mistakes, but as the business grew and matured, the young entrepreneurs began to realise that the success of their business lay in the quality of their team and the values they stood for.
This meant two things: Those values needed to be formalised so that they could permeate everything Brand Cartel does, and they needed a team that lived, breathed and believed in them.
“We’ve had some nasty experiences,” admits Dillon. “You should always hire slowly and fire fast, and for five years we did the opposite. We’ve hired incredible people, but we’ve also ended up with individuals who didn’t align with our values at all, and that can destroy your culture.
Dillon, Marco and Renate realised they needed to put their values on paper. “We did an exercise and actually plotted people based on a score grading them against our values, so we knew where our issues were. We knew what we wanted to stand for, and who was aligned with those values. We were right; within a few weeks resignations came in and we mutually parted ways.”
The team that stayed was different. They embraced Brand Cartel’s values, and more importantly, it gave the partners a hiring blueprint going forward.
“Values are intangibles that you somehow need to make real, so it’s important to think about the language you use, and how they can be used in a real-world work context,” says Marco.
The team has done this in a number of ways. First, they chose ‘value phrases’ that can be used in conversation, for example, ‘check it, don’t wreck it’, and ‘are you wagging your tail?’ Team members can gently remind each other of the value system and focus everyone on a task at hand simply by referring to the company’s values. “In addition, when someone is not behaving according to those values, you can call them out on the value, which is an external thing, rather than calling them out personally,” explains Dillon.
Second, all performance reviews are based on the values first. This means everyone in the organisation begins any interaction from a place of trust, knowing they are operating according to the same value system.
“When you’re in a production environment with jobs moving through a pipeline, there can be problems and delays,” explains Marco. “Instead of pointing fingers when something is over deadline or a mistake is made, our team can give each other the benefit of the doubt and work together. They trust each other, which creates cohesion. We all work as a team, which impacts the quality of our work and the service we offer our clients.”
The system is simple. Coaches will step in first if there is an issue before it escalates to the Head of Team Experience, Nicole Lambrou. If Nicole is called in, she will address the problem head on. “Inevitably it’s something fixable,” says Marco. “By addressing it immediately and in the context of our values it can be sorted out quickly. Ultimately, the overall quality of our team improves, and we are a more cohesive unit.”
The founders have seen this in action. “I recently arrived at a client event and three different people came up to me and complimented my team on the same things — all of which aligned with our values. Everyone at Brand Cartel lives them, internally and externally,” says Renate.
The value system has also shaped how the team hires new employees. “We used to meet people and hire for the position if they could do the job,” says Renate. “But then we started realising that anyone can hold up for an hour or two in an interview. You only learn who they really are three months and one day later.
“We need people who walk the talk, and we really only had a proper measurement of that once we articulated our values. Our interview style has changed, but so has what we look for.”
Here are the seven values that Dillon, Marco and Renate developed based on what they want their business to look like, how they want it to operate, and what they want to achieve, both internally, and in the market place.
1. Play with your work
Our goal is for everyone on our team to become so good at what they do that it’s no longer work. Once that happens you love your job because you’re killing it. It’s why sportsmen are called players, not workers, and it starts with the right mindset.
2. Wag your tail
The idea behind this value stems from Dale Carnegie, who said ‘have you ever met a Labrador you don’t like?’ In other words, we all respond well to people who are friendly. It needs to be genuine though, so again, it’s a mindset that you need to embrace.
We live these values whether we’re at the office or meeting clients. If you go into each and every situation with joy and excitement, from meeting someone new to a new brief coming in, you’ll be motivated and excited — and so will everyone around you.
3. Check it, don’t wreck it
The little things can make big differences. Previously it was too easy to pass the buck, which meant mistakes could — and did — happen. Once you instil a sense of ownership and create a space where people are comfortable admitting to a mistake however, two things happen. First, things get checked and caught before there’s a problem. Second, people will own up if something goes wrong. This can help avoid disasters, but it also leads to learnings, and the same thing not happening again.
4. What’s Plan B (aka make it happen)
We don’t want to hear about the problem; come to us with solutions, or better yet, already have solved the problem and made it happen. We reached a point where we had too many people coming to us with every small problem they encountered, or telling us that something wasn’t working so they just didn’t do it.
That wasn’t the way we operated, and it definitely wasn’t the way we wanted our company to operate. We also didn’t want to be spoon feeding our team. It’s normal for things to go wrong and problems to creep in — success lies in how those problems are handled.
Ignoring problems doesn’t make them go away, so we embrace them instead, encouraging everyone on our team to continuously look for solutions. For example, the PR department holds a ‘keep the paw-paw at Fruit & Veg City’ meeting every morning, where we deliberately look for where problems might arise so that we can handle them before they do. We start with what’s going wrong and then move to what’s going right. You need to give your team a safe and transparent space to air problems though. We don’t escalate. We need to know issues so that we can collectively fix them, not to find fault.
5. Put your name to it
It’s about pride in work and making it your own. When someone has pride in what they’re doing, they’ll not only put in extra time and effort, but they’ll pull out all the stops to make their creative pop, or go the extra mile for a client.
We need to find the balance between great quality work and fast output though. One way we’ve achieved this is by everyone reviewing the client brief and then committing to how long their portion will take.
When someone gives an upfront commitment, they immediately take ownership of the job. It took time for us to find our groove with this, but today we can really see the difference. Our creative coaches also keep a close eye on time sheets and where everyone is in relation to the job as a whole to keep the entire brief on track. If someone is heading towards overtime we can immediately ask if something is wrong and if they need assistance.
We also celebrate everything that leaves our studio. Every morning we have a mandatory 15-minute catch up session where we check in on four core things: How am I feeling (which allows us to pick up on the mood in the room and the pressure levels of our teams); What’s the most important thing I did yesterday; What’s the most important thing I’m going to do today (both of which give intention and accountability); and ‘stucks’, issues that team members need help with. We then end off with our achievements so that we can celebrate them together.
6. Keep it real (aka check your ego at the door)
We believe in transparency. At the end of the day we’re all people trying to achieve the same thing, but it’s easy for ego to creep in — especially when things go wrong. You can’t be ego-driven and solutions-orientated. If clients or team members are having a bad day, you need to be able to focus on the solution. Take ego away and you can do just that. It’s how we deal with stucks as well. We can call each other out and say, ‘I’m waiting for you and can’t do my job until I receive what you owe me,’ and instead of getting a negative, ego-driven reaction, a colleague will say, ‘sorry, I’m on it.’
7. Walk the talk
For us, ‘walk the talk’ really pulls all our other values together. It’s about being realistic and communicating with each other. If you’ve made a mistake or run into a problem, tell your client. Don’t go silent while you try and fix it. Let them know what’s happening and fill them in on your plan of action.
Walk the talk also deals with the industry you’re in. For example, if you’re a publicist, you need to dress like a publicist, talk like a publicist, and live your craft. In everything we do, we keep this top of mind.
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