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AutoTrader South Africa’s George Mienie Knows Disruptive Innovation Is More Than Shifting Gears

Today, AutoTrader.co.za has grown its digital revenue to over R185 million, while being widely acknowledged as a disruptive tech leader. Here’s how disruptive innovation has become part of an ex-print publisher’s DNA.

Nadine Todd

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Vital Stats

It was 2007. The recession had not yet hit and markets were booming. AutoTrader magazine sold 108 thousand copies each month, and it had so many pages that the company’s printers needed to import special equipment to bind it. Even then, the magazine was capped at approximately 1 000 pages.

Business couldn’t have been better. And yet CEO George Mienie and his management team decided to completely pivot from a print publication to a digital and tech business — against the advice of highly paid consultants.

It was a huge risk, but George knew it would be even riskier to rest on their laurels and do nothing. Truly innovative and disruptive businesses know that to survive and thrive, business models need to be continuously adapted to current and potential future market conditions. More than that, they need to lead the innovation curve.

Related: Avoid The Founder’s Trap And Learn From Propertuity’s High-Impact Growth

History is littered with companies, large and small that ignored this pivotal rule. AutoTrader South Africa wasn’t going to be one of them.

The road to Stasis

AutoTrader had been operational in South Africa since 1992, and George had joined the business in 2004. The UK holding company was completing its own transition into a digital business, but AutoTrader South Africa was still a print business. In fact, 2005 to 2008 was its boom period in print.

No one foresaw the recession, or the exponential change from print to digital. And yet, George and his team were looking to the future.

“We knew that at some point the market would shift, we just didn’t know when or how fast. We consulted our parent company at the time, who were invaluable in helping us with insights and resources from their more developed market.

But the UK wasn’t the same and we knew the South African market would be different, and it was. We decided to contract a consulting firm to give us their insights into our market and where we should be focusing in the future,” says George.

“They told us that print wasn’t dead, and that South Africa wasn’t ready for the Internet yet. Their advice was not to focus on a digital platform, but to grow AutoFreeway.

AutoTrader was a premium print product, with a cover price for consumers, and AutoFreeway was a free magazine distributed to consumers through retailers. The advice we received was that consumers wanted a free print model.”

It was expensive advice that George and his team luckily ignored. Why? Because even though South Africa wasn’t quite ready for the Internet in 2007, there would come a time when it would be, and AutoTrader could either have a market solution that was an industry leader, or be one more business behind the innovation curve and entering permanent stasis.

Related: Watch List: 50 Top SA Black Entrepreneurs To Watch

Changing the entire trajectory of a business and migrating its revenue model from one extremely successful product to an unknown entity is risky. But with high risks come high rewards, and for George and his team, doing nothing was by far the greater risk.

Market-leading mindsets

autotrader-ceo-george

Today, AutoTrader.co.za’s online consumer base is exponentially greater than the size of its print readership at its height. The risk paid off. The business’s print revenue for the car marketplace has successfully transitioned to digital, and the company is now poised for growth in the digital market of buying and selling cars.

But even though George and his team knew the pivot was crucial, they couldn’t envision the scope that digital offered.

“We couldn’t conceive of being 20 times bigger in magazine sales because we were already so big. We needed a different model to achieve it. But even as we recognised the need to shift, we couldn’t imagine the scope.”

And that’s the secret to being ahead of the innovation curve — understanding the need for change, critically analysing a market and implementing the right changes — without fully envisioning what the future market will look like.

Get it right, though, and you become the market leader; determining the shape of your industry and adjusting consumer and customer perceptions of what’s possible.

“There’s a cliché that change is like boiling a frog. The water warms up so slowly you don’t notice it’s happening until it’s too late,” says George. “The only way to avoid sure market death is to get out of the pot, without jumping into the fire. That’s what we did.

Related: 10 Lessons From Andrew Brand On Shaping Organisational Success

It wasn’t easy, but today we’re an agile, disruptive tech business. We could have been an irrelevant print company that once used to be a household name. We got off the road that led to stasis, and got onto the road less travelled.” Here’s how they did it.

The art of the pivot

To pivot the business, two key areas had to be addressed. First, the team needed to determine how a digital business could potentially eradicate the limitations of print. Second, they needed to understand the customer and their needs, which would inform what AutoTrader’s new products should deliver.

“Print businesses offer limited strategic opportunity,” explains George. “A magazine is a one-dimensional brand. You can change its size, the paper stock, and the way it’s bound. You can determine where to sell it, and how much to charge to purchase it or advertise in it. But that’s it. There’s very little data you can extract from it.

“There are two ways of expanding with print: You can increase your readership in your existing geography, and you can expand your geographic footprint, which was what the UK business originally did when it began entering international markets.

“Our own magazine expansion had been capped at 1 000 pages and just over a hundred thousand copies sold each month. We were a successful print business, but there was no room for real, scalable growth.”

AutoTrader’s pivot was driven by dual motivations. George and his team recognised that the market would be shifting, but he also knew that in its current format the business model did not support scalable growth. The second challenge was that any change to a business model must take its customers into account.

This means not only asking them what they want, but focusing on what they need. As in many cases, customers don’t know what they want until you give it to them. In the case of AutoTrader, the company has two distinct customer segments: Consumers (readers), and customers (car-sellers).

Related: How Bertus Albertse Overcame Adversity To Build A R80 Million Franchising Business

“Early on we defined ourselves as a two-sided marketplace; without our readers (now Internet users), we have nothing. Even though they don’t spend a cent with us, we have nothing to sell without them, and so we took most of our early lead from them. What did they need, and how could we ensure they found it?

As South Africa shifted onto the Internet, we knew it would be simpler for consumers to find information online. We had to have a product ready for them.”

But what were car sellers looking for? “There’s only one thing that’s important to the car seller, and that’s selling cars. Whether this is achieved through magazine advertising or online listings is largely irrelevant to them. Once we had an online product that delivered value to car sellers, we could transition our customers onto the online platform.”

From theory to practice

autotrader-website

Step one was being able to track how buyers engaged with sellers in the printed product, and this was a challenge for AutoTrader. The print publication had for more than a decade targeted serious buyers — consumers who had already moved down the sales funnel, and were ready to make a purchasing decision.

“The magazine had a cover price, and we believed that this ensured it was purchased by serious buyers. Magazine sales are easy to track, and based on how many magazine’s were sold each month and advert positioning within the magazine and paper stock, sellers were charged different prices.”

But what’s the online equivalent of this model? There isn’t one. The metric is users, and comparing users to magazine readership is largely irrelevant.

A website can attract consumers anywhere in the car buying funnel: Browsers, people at the very beginning of the car buying process who are unqualified leads and in some respects still in the ‘tyre kicking’ stage, through to serious buyers doing final comparisons and actively looking for a vehicle.

The problem was that there was no way of determining which users were serious buyers. “This had always been our selling point — we connected sellers with serious buyers. The digital platform was different, and it presented a challenge for us,” explains George.

Related: How Jacqui van der Riet Went From Receptionist To Co-Owning A R230 Million Business

The answer took a large upfront (and ongoing) investment to build a value proposition that sellers would buy. “This was a long-term growth strategy, so we believed the investment was worth it. We saw it as a calculated risk. Yes, there were costs involved, but without them we couldn’t develop a successful digital product, which would be the new foundation of the business.

“We designed a call tracking system that we gave to all our car sellers for free, with one telephone number and a line that we paid for. That number was printed on their magazine adverts, so we could track which in-bound telephone calls were a direct result of an AutoTrader magazine advert.”

While this sounds reasonably simple, AutoTrader is one of the few companies world-wide that has successfully transitioned all of its clients onto a call tracking system. “This is now a way of doing business with us and in the market,” says George.

“Car dealers love this call tracking system. Besides tracking calls from the buyer to the seller, the system includes a number of other benefits that add enormous value to dealers. And it’s all for free.”

This solution cost AutoTrader millions every year, but it was an essential cost for the successful transition to a digital business. “Even today it holds enormous empirical value for the dealerships,” he adds.

“In those early days, 90% of consumers called dealerships if they were interested in a vehicle. Today the ratios between calls, emails and dealership visits have shifted in favour of dealership visits without calling or emailing, but it served its purpose.

Online and print ads ran different telephone numbers at times, and we were thereby able to track print versus digital telephone calls. By 2013 twice as many people as those buying the magazine were online, but the telephone calls between the two platforms were equal. Without this ratio, the transition between print and digital would have been damaged. We needed equitable measurements that made sense.”

Related: How Mark Sham Earned His Suits & Sneakers

The solution also served a dual role. As users grew on the digital platform, this ratio informed the business’s pricing model. This was the team’s introduction to clever leveraging of data.

Innovation and product development

The secret behind AutoTrader’s success is that it didn’t just place its magazine online. Specific products were developed for sellers (or customers) at different price points with different value propositions.

But that doesn’t happen overnight. George and his team needed a product that customers could use, and a plan to start migrating revenues from print to digital.

Bundling print and digital products would ultimately be the key to pivoting the business model.

This was achieved in two ways. First, all magazine advertisers were listed on the AutoTrader website for a minimal monthly subscription from 2007 to 2008, while the team developed its first iteration of online packages. Then, all advertising was converted to print and digital packages.

“We called this our multi-media product bundle. A print advertiser could choose print or a favourably priced multimedia option to encourage our advertisers to have an online presence.

“We maintained our print revenues while the transition was taking place and only unbundled the offerings in 2013 once the digital platform had reached a point where it could sustain the business.”

Second, to ensure that online advertisers on different packages received value, data was continuously collected and monitored and online packages adjusted to deliver the best results for buyers and sellers. It was a process, but the team accounted for it. “We couldn’t transition our buyers or sellers overnight.

Related: Watch List: 50 Black African Women Entrepreneurs To Watch

The online product offering needed to be tweaked continually. Doing this while we still had strong print revenue allowed us to build a robust digital offering with revenues that increased at the same rate that print revenues decreased. We were able to transition to a digital and tech business where revenue was now coming from the Internet, which is a massive achievement.”

Key to this was understanding what a digital product should look like. “We did a lot of ongoing research to fill data gaps. This started with our core — you need to understand and define who you are. For us, this was a two-sided marketplace for buying and selling cars. Everything else was secondary.

“We were clear about the magazine’s consumers and where they were in their buying journey. We needed to understand online consumers, the best way to reach them and move them through the car buying journey.

For example, display advertising creates brand awareness and influences browsers at the top-of-the-funnel and this becomes important as a consumer becomes a more serious buyer. What have they been exposed to up until that point? What has influenced them.

“Over time, we have created our online offering to buyers (consumers) to tap into the different stages of the car buying journey. On the seller side, we created products to enable them to take advantage of the consumer offering by buying higher-end packages.

The higher the package bought, the more attention they get from the consumers, the more chance they have to influence the consumer to choose them, which means more value, exposure and consumer touch-points sellers receive on the site — leading to better conversions if the seller uses the online levers/influencers in the right ways.

While there’s a definite science to it, car sellers still have to influence car buyers to choose them no matter what package they’re on. This leaves a large part of the online selling up to the dealers in the way the vehicle is presented online, it’s pricing, descriptions, photographs and stocking the right cars for the dealers geographic and target markets.

Related: The 50 Richest People In The World

We constantly research how the packages are performing in aggregate, which means we can present listings and reviews to buyers in the best possible way, and we see better performance for dealers in our higher-end packages.”

The value of trust

george-mienie-profile

An integral part of this journey has been creating trust between AutoTrader and its consumers.

“We’ve now become content creators as well — this was never our space before. The sellers understand that they have such incredible access to serious buyers because of us, and that’s because we offer a trusted motoring marketplace to the consumer.

We have a huge, easy to navigate platform of listings and we do unbiased car reviews, keep the consumers informed with the latest news and more.

Related: How I Rebooted My Career After Getting Fired — Twice

Our users know that they’ve seen everything when they come to us — they don’t have to go anywhere else to do additional online research. The only way to achieve this is through honest reviews (that are also humorous and entertaining).

“Our job — and success — lies in our ability to create online offerings that grab consumer attention first. This is the crux of how we’ve managed to transition our revenue — we’ve given the consumer market something it wants, and our upper-end dealers are willing to pay premium prices for the additional value we have to offer.

“It’s taken a lot of planning, ideating and changing. As a team, we meet weekly, monthly, quarterly to avoid developing silos within the business. If the marketing director doesn’t know what the product director is doing, that’s a problem for me. We work best together — it’s the only way to create products that offer the highest value to everyone involved.

“For two weeks each year we get together, analyse all the data we’ve seen and argue about what to do next, what mistakes we have made and what to change — what is the data telling us about the online consumer and dealer offerings and the challenges that they face?

The online offerings and changes are less drastic today than they were; we’re more established now, but you should never rest on your laurels. Always be tweaking, iterating and asking if you’re still relevant to the market.

“We define ourselves as an organisation that brings buyers and sellers together. How we do this will continue to change over time. Recognising this important fact keeps us relevant. For instance, Facebook is a potential future competitor — and we’re planning ahead.”

Disruptive innovation

“Successful disruption doesn’t lie in recognising you need to be disruptive, or even coming up with bold, innovative ideas — it’s all about execution,” insists George.

“I get bored in a room full of ‘ideas people.’ The world is full of great ideas and idea people. But successful execution is extremely rare — and it accounts for nine tenths of success. You can’t stay ahead of the curve without being an innovative organisation, and that all comes down to how well you execute your ideas.

“It’s an ongoing process. The moment you stand still, you become a template for others to follow. We are copied all the time, we change something and competitors follow suit. You grow, plateau, decline — that’s the innovation ‘S’ curve that business courses love to discuss.

But innovators understand that when one ‘S’ is declining, another is conjoined and on the upward swing. The trick is to recognise when you’re going to plateau so that you’re already planning for your next business model shift.

There’s a lull between the two. I call it the valley of tears. It’s painful. It requires serious change, and if you stay there your business is in trouble — but it also gives you the gift of time to re-engineer the business.”

Delivery is everything

george-mienie-south-africa

Because execution is so important, the processes and team supporting innovation, and particularly business model adjustments, are crucial.

“Balanced scorecards play a big role for us,” says George. “When we began this process, top management had a vision that needed to be executed by the whole team.

“The balanced scorecard was our link, our sounding board for execution. It takes a lot of work. You have to break up what you want to do into little parts to ensure people and activities are all working together. It’s particularly challenging breaking old, established silos apart, but we managed to do it.”

Related: Watch List: 50 Top SA Business Women To Watch

Innovation is not a once-off activity. It’s a process that needs to become entrenched in the organisation. Integral to this is the constant re-evaluation of what the business has that adds value to its customers.

“The business needs to view change as a constant, not just as a concept, but something deeply entrenched in our people’s DNA,” explains George.


Key Insights

Prepare for future market conditions

It’s taken AutoTrader ten years to complete the transition from a print company to a disruptive tech and digital business. If the team hadn’t been prepared to disrupt itself then, it would be struggling with a radically new market, instead of being the company shaping what that new market looks like.

Understand the need you’re solving

AutoTrader’s product isn’t print or digital — it’s connecting buyers with sellers in such a way that leads are converted. It took thought and focus to develop and tweak digital products that deliver what the magazine had previously achieved. This allowed the correct pricing models to be developed as well.

Understand what you have — and how it can increase your offerings

Moving onto a digital platform has opened up a wealth of data for AutoTrader, from where vehicles are more popular, to price points that are below or over market expectations. This has allowed the business to continuously improve its offering to customers, as well as launch additional products of high value to the market.


The Nuts and bolts of innovation

car-parts

The internal culture of AutoTrader has played a vital role in the company’s transition from a print classifieds company to an innovative tech business.

This has been possible due to a few key adjustments:

1. Balanced Scorecards

Clear outputs allow teams to progress without being micro-managed. Implementing a balanced scorecard system takes time, and managing it takes effort, but the results outweigh the costs in time and effort.

Related: 6 Of The Most Profitable Small Businesses In South Africa

Organisations that follow a balanced scorecard system first develop overall objectives for the business. Departmental scorecards are then developed that link directly to what each department needs to achieve to deliver those objectives.

This is then broken down into what each team member needs to achieve. AutoTrader took two years to implement the system, but the benefits have been felt across the organisation.

The system gives employees accountability for their own time and workloads, which enables them to handle personal responsibilities during work hours and vice versa.

“Giving people personal and professional freedom encourages loyalty. Our employees and managers go to their sons’ rugby games for example, but voluntarily work nights and weekends to ensure projects are completed on time and to our standards. Acknowledging personal lives makes people more willing to give their all professionally.”

2. Open plan environments

The whole organisation is open plan. Different departments are encouraged to work and socialise together, ensuring no silos are created, and information and advice is shared freely. George and his PA sit at desks side-by-side in a communal area.

3. Tech innovation is embraced

Other than HR and finance, AutoTrader is a paperless office, embracing technology as a tech innovator should. Desks don’t even have drawers as each person is allocated a locker to store personal items. The company lives and breathes tech, ensuring tech solutions are at the forefront of everything it does.

4. Culture is more than just words

AutoTrader has five key pillars outlining the business’s ethos and culture.

Each employee has to be able to demonstrate how those pillars impact and inform their work — with specific examples — in each of their balanced scorecard reviews.

This keeps the cultural framework of the business a living, breathing thing, and managers quickly pick up if there’s discord between employees and the culture.


Related: Three Habits That Underpin Entrepreneurial Success

Nadine Todd is the Managing Editor of Entrepreneur Magazine, the How-To guide for growing businesses. Find her on Google+.

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Entrepreneur Profiles

Rich List: 2019 Richest People In The World

They’re worth billions, and their wealth continues to grow each year. Here’s the top 10 richest people globally in 2019.

Catherine Bristow

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jeff-bizos 10. Jeff Bezos

Net Worth: USD 139,5 billion

Jeff Bezos founded e-commerce giant Amazon in a garage in Seattle, USA in 1994. He also purchased The Washington Post for $250 million in 2013.

Bezos believes in always taking a long-term view and living in the present moment.

“I think this is something about which there’s a lot of controversy. A lot of people — and I’m just not one of them — believe that you should live for the now.

I think what you do is think about the great expanse of time ahead of you and try to make sure that you’re planning for that in a way that’s going to leave you ultimately satisfied. This is the way it works for me. There are a lot of paths to satisfaction and you need to find one that works for you.”

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7 Self-Made Teenager Millionaire Entrepreneurs

These teenager entrepreneurs have already made their first million and more. How did they do it and what’s their secret to success?

Catherine Bristow

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1. Evan of YouTube

evan-of-youtube

Evan and his father Jarod started a youtube channel ‘Evantube’ to review kids’ toys. The channel was a resounding success with other kids – so much so that today it boasts just over 6 million subscribers.

Evantube brings in more than USD1.4 million a year from ad revenue generated on the channel.

How did it start? With a father-son fun project making Angry Birds Stop Animation videos, and morphed into doing reviews on toys and video games. But Jarod’s dad is aware of the responsibility of Evan’s sudden fame and hopes to teach Evan about the importance of being a good role model for others.

“Most recently, we had the opportunity to work with the Make-a-Wish Foundation, and were able to fulfill the wish of a young boy whose dream was to meet Evan and make a video with him at Legoland,” explains Jared. “It was a really incredible experience. YouTube has definitely opened many doors, and the kids have gotten to do some pretty amazing things.”

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Entrepreneur Profiles

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.

Nadine Todd

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Vital Stats

  • 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.”

Related: Property Point Creates R1bn In Procurement Opportunities For Small Businesses

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?

Related: Want To Start A Property Business That Buys Property And Rents It Out?

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

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