A winning strategy is as much about choosing what not to do as it is about choosing what to do
- Abey Mokgwatsane
- CEO of Ogilvy & Mather
“My uncle and mentor, Ken Modise, gave me this piece of advice. In business we are faced with an abundance of choices. A winning strategy is as much about choosing what not to do as it is about choosing what to do.
“With so many choices, it’s important that you choose which things to let go of so that you have the resources available to focus on the few really important things.”
“Sometimes doing so can be a tough call — it’s often tempting to try and be everything to everyone, but that can’t be your strategy. I have found that asking yourself what is really important to the business and choosing to focus your energy on that, automatically helps you to eliminate other potential strategies and choices.”
Read more: Abey Mokgwatsane’s full story here
Gut feel and people can tell you much more about a business than graphs can
- Dawn Jones
- CEO of Imperial Car Rental-Europcar
“Bill Lynch was a great teacher. At board meetings if you put up a presentation or a graph, he’d tell you that didn’t tell him about what was really going on in the business. He’d tell you to talk to him about what your gut said. I’ve tried to continue that — to talk to people and to listen when they talk back, and through those interactions get a real sense of what’s happening in the business.”
Read more: Dawn Jones’ full story here
Success, like failure, is just a point in time
- Allon Raiz
- Founder of Raizcorp
“I once spent half of one session with my mentor telling him how well things were going in the business. He sat very quietly and listened to me and then asked me if I had any intention of making the session valuable in any way, or if I was just there to talk about how great I was. It was a real wake-up call.
“Success, like failure, is just a point in time.”
“You have to bring the same perspective to success as you do to failure. It could change. Always pay attention to everything that’s happening, and be constantly looking for solutions and ways to do things better.”
Read more: Raizcorp: Allon Raiz
To be successful is to be the best in the history of your life
- Ryk Neethling is a former Olympic swimmer and Marketing Director at Val de Vie Estate.
“My coach gave me this advice, and it became my mantra for success. You need to set your own goals and not measure yourself against others. I think this is as important in business as it was for me in sport. But it’s a very tough thing to get right when you’re competitive.”
Read more: Ryk Neethling’s full story here
Inspect what you expect
- Onwell Msomi
- GM of the 2010 FIFA World Cup
“I used to work for a guy whose motto was ‘inspect what you expect.’ He was right. I’m the type of manager who trusts his team. While some thrive under those conditions, others become totally lost. As a result, I had a few critical things fall through in the planning process. When you work on a project as huge and time-bound as this one, you must stay close, walk with your people every day and give all the help you can.”
Read more: Coca-Cola South Africa: Onwell Msomi
Education is not just about getting your foot in the door. It should be an ongoing process
- Anton Ossip is the CEO of Discovery Insure
“My grandfather came to South Africa from the Ukraine, with no education, not speaking the language, and managed to build a successful business that is still around today. He taught me about the importance of education and putting 100% into what you do. There is no replacement for hard work. It’s what builds success.
“It’s also incredibly important to make sure you are always learning. It doesn’t have to be an MBA – every opportunity is a learning opportunity. I try to learn the different jobs of the people I work with so I can understand their challenges and how best to resolve them. Just because you are a leader doesn’t mean you know everything. Don’t be afraid to admit what you don’t know, and sit down with an individual to learn from them.”
Read more: Anton Ossip’s full story here
Knowing when to push through a closed door and when to walk away is part of the skill of running a business
- Mark Frankel
- CEO of Shanduka Black Umbrellas
“When I was working as the financial director at Master Currency, the sign on the Boardroom door said, ‘The last hurdle’ and, although this doesn’t constitute a piece of advice per se, it has always stuck with me.
In business you never know what the last hurdle is that you will have to overcome, so you need enormous reserves of tenacity to keep facing the obstacles that are in your way. But while that tenacity is important, I think it’s also important to balance it with knowing when to let go.
“Sometimes we become emotionally attached to ideas or plans and are unable to let go of them even when it’s clear that they are flawed. This just leads to a wasteful expenditure of energy that might be better channelled to areas of the business or new ideas that hold better promise.”
Read more: Shanduka Black Umbrellas: Mark Frankel
- Steven Cohen is the Managing Director at Sage Pastel Accounting.
“I have breakfast nearly every Saturday morning with a friend who also happens to be a clinical psychologist, and he gave me this advice. I find it informs every aspect of how I manage people and the business. At a most basic level, self-awareness helps you to understand why you react in the way you do, assisting you in identifying your own emotional ‘stuff’ so you can separate this out from the real issue at hand. This helps you to respond to criticism better so that you can actually use it to grow, instead of getting defensive.
“People who are self-aware also tend to manage other people better, whether those people report to you or are at a senior level to you.”
Read more: Steven Cohen’s full story here
Don’t change what works
- Bob Skinstad is an ex-Springbok rugby player, Supersport presenter and entrepreneur.
“I was a keynote speaker at a conference with Kevin Roberts, the ex-CEO of Saatchi & Saatchi, and I didn’t want to give the same talk two days in a row. It was a different group of people, but I was very aware that Kevin had already heard the address, so I changed it. Afterwards he asked me why I had changed something that was working. He told me that repetition of a good thing is the secret to success, and I’ve never forgotten that advice. It’s informed a lot of what I do today.”
Read more: Bob Skinstad’s full story here
Two things are fundamental: Performance, and living the organisation’s values
- Pfungwa Serima
- MD of SAP Africa
“When I joined the business and Leo Apotheker was SAP CEO, he said to me: ‘There are two things that are fundamental to SAP. One is performance, the other is living our values.’ He made the point that while individual performance is crucial, a person who performs well, but is unable to live out the company values is not the type of person we need in the organisation.”
Read more: SAP: Pfungwa Serima
SA Entrepreneur Takes First-Of-Its Kind Business To An International Level
Jo Farah shares some insights on his entrepreneurial journey as Global Entrepreneurship Week (GEW) gets underway.
South African-born entrepreneur and creator of the world’s first environmentally friendly sneaker care product – Jo Farah says entrepreneurship has always been part of his DNA, and making a valuable contribution to society his ultimate goal.
The founder of Sneaker LAB – an innovative business that’s managed to create a first-of-its-kind, biodegradable sneaker care product, delivered his sentiments on entrepreneurship and his entrepreneurial journey as Global Entrepreneurship Week (GEW) kicked-off in 170 countries around the world this week.
Farah, who’s been mentored and groomed by his entrepreneur father, says developing a successful business has always been part of his life’s plan. And while he managed to establish a few start-ups during his entrepreneurial journey, which includes founding a guerrilla marketing agency in South Africa, and producing ads for the likes of Adidas, New Balance and Puma it still wasn’t enough.
After returning from the United States in 2008 with just one thing on his mind – to help cure South Africa’s conundrum by creating jobs for the unemployed, and in-turn fostering economic growth, Jo invented a one-of-a-kind sneaker care product, and put shoulder to the wheel to establish his business in 2013.
Starting a sneaker care product range was a natural choice, especially considering Jo’s passion for sneakers, street wear and urban culture. He also wanted to create a complimentary product to accompany the list of sneaker brands that has inspired him over time. Jo’s work behind the scenes commenced in earnest and in no time he conducted enough research to support his theory – there was a gap in the market for branded sneaker care products. He knew that he was on a good wicket.
“There already was a range of non-branded products on the market, but my research revealed there was a healthy appetite for branded, environmentally friendly sneaker care products. That spoke directly to my business model,” he says.
Today, Sneaker LAB has placed Cape Town on the map with its premium global status – it’s the only sneaker care product range in the world to be Green TAG certified, environmentally friendly and biotech driven. Its products are water-based, readily biodegradable, and the packaging is suitable for recycling. The business also operates internationally, in 50 countries across Africa, with an experiential brand store in Braamfontein Johannesburg; as well as downtown Los Angeles in the USA; Asia and Europe. The business is growing by the day, with a store in Tokyo set to open soon.
As an entrepreneur he’s grown in leaps and bounds, and despite many changes along the way, his sentiments on entrepreneurship remain.
“Inspiring potential entrepreneurs to develop an entrepreneurial mindset and embark on an entrepreneurial journey is one way of solving some of the world’s most critical problems, and freeing the economically marginalised,” Jo says.
He urges young aspiring entrepreneurs with an entrepreneurial mindset to take the plunge and to channel time and energy into developing their business ideas into something tangible and workable that could generate good long-term financial returns.
“People will tell you that it can’t be done, but believe me, it can. All you have to do is to believe in your idea and to work hard and smart and you’ll reap the benefits,” Jo says.
9 Ways Successful Entrepreneurs Spend Their Weekends
All work and no play makes for a very dull entrepreneur.
Successful entrepreneurs have a passion for what they do, so working hard is part of their DNA. But anyone who is successful also recognises that life and work are a marathon, not a sprint. Even they need downtime on the weekend to ensure they’re up to the task of being creative problem solvers and innovators Monday through Friday.
Sure, they may spend some time catching up on administrative work. They may spend time on a big project that needs special attention. And they should definitely spend time thinking about the future and considering the big picture.
But what successful entrepreneurs don’t do is spend the entire weekend buried under work. We all need a break, and entrepreneurs are no less immune to burnout than anyone else. Their weekends are spent restoring their bodies and minds, and getting prepared to function optimally come Monday.
Here are nine things successful entrepreneurs do over the weekend to unwind and re-energise for the week ahead.
1. Wake up at about the same time
Successful entrepreneurs understand that staying on track for the week ahead means keeping the same sleeping patterns, even on weekends. That means going to bed and getting up at about the same time all week. This is because your circadian rhythm will stay consistent, so your body will naturally know when it’s time to sleep and wake up.
As tempting as it might be to sleep in, doing so can throw off your sleep/wake cycle, disrupting sleep patterns and giving you a poor night’s rest. Make sure you aim to get seven to eight hours of sleep every night to avoid a sleep deficit. Also, getting up early means you’ll be ready for whatever the day brings and you’ll have time to accomplish all the things you hope to do.
2. Spend quality time with loved ones
It’s no surprise that weekdays can be hectic and filled with obligations. There’s a good chance you spent more time in front of your computer (and with co-workers and colleagues) than with the most important people in your life. Make sure you’re tending to the quality relationships in your life by making them a priority on the weekends.
Have a date night with a partner. Go for a long walk or enjoy a leisurely lunch with a friend. Make sure you’re building and maintaining those relationships by really listening to them. And then share what’s on your mind and how you’re feeling. The support and connection you feel with others will give you resiliency and can support you in stressful times.
3. Pursue a passion
Is there some hobby or activity you’ve been wanting to try but have never made time for? Dedicate some weekend time to pursuing a passion that’s outside of work and beyond your normal day-to-day obligations. Maybe you’ve always wanted to learn to paint, take up photography or write a novel.
Whether it’s a long-lost hobby or a labor of love you’ve dreamed of embarking on, stop telling yourself that you’ll get around to it “someday.” Set aside a quiet weekend morning or afternoon to work on it. Pursuing your interests beyond work improves your mental health and reduce stress levels. Plus, focusing on activities outside of work will improve your creativity and give you a chance to look at life from a new perspective.
4. Find time for a mini-adventure
Weekends give you a chance to unplug from life, put aside your daily responsibilities and go have some fun! Let loose and break out of your rut by taking yourself on a mini-adventure. Get out of the house and find a change of scenery.
A mini-adventure means sticking close to home, so hiking the Grand Canyon may be a bit much, but an overnight camping trip or a day hike is totally doable. Spend an afternoon at the beach or take your bike out for a long ride. The point is to get out and make a memory that will give you a smile for the rest of the week.
5. Fuel their creative mind
Successful entrepreneurs make sure they take time to feed their creative minds by finding ways to connect with the arts. You don’t need a degree in art appreciation or music theory to enjoy the benefits of engaging with the arts. Simply visiting a local museum or spending time listening to music will suffice.
Viewing art can be like a mini-vacation for your brain. It activates areas of the brain that are involved in processing emotion and engaging your pleasure and reward systems. Listening to music can have an even more dramatic effect. In fact, music has been found to stimulate more parts of the brain than any other human function.
6. Relax, reflect and renew
Savvy entrepreneurs have learned that they must give themselves the space and time to decompress and mull over the events, issues or dilemmas they face. Giving yourself time for self-reflection allows you to link and construct meaning from your experiences. Reflection is one of the main ways we gain insight and foster complex learning and personal growth.
In our busy world, we are often dealing with packed schedules and juggling multiple issues. Make sure you find time on the weekend to disengage from your hectic schedule and just chill. Try journaling, going for a walk, taking in the beauty of a sunset or even just focusing on the present moment and being aware of all the sensations you’re experiencing.
Related: Get Your Weekend Started
7. Get outside and exercise
Whether it’s getting out for a walk through the neighbourhood, shooting some hoops or taking a run through the park, high-achieving entrepreneurs get outside on the weekend to stretch their legs and soak up some vitamin D. There are some great benefits to an outdoor rather than indoor workout (although the most important thing is getting exercise, however it works best for you).
Getting some natural sunlight may be a welcome reprieve from artificial lighting if you spend most of the week in an office. Studies have found that adults tend to exercise for longer when they’re outside. You also tend to burn more calories and work slightly different muscles because of the wind resistance and changes in terrain. Perhaps most important, you’ll have a chance to admire nature and the outside world, which is good for your mental health and well-being.
8. Socialise and network
Successful entrepreneurs realise that any event or gathering is a chance to get to know other people and learn something new from someone you haven’t met. Set aside time to socialise with friends and family or get to know colleagues and workmates. If everyone else is busy this weekend, look for other opportunities to socialise and do something fun and interesting.
Check out a local community event. It could be a great chance to learn more about where you live and network and make connections with others. You could also look for a volunteer opportunity with a charity or nonprofit you’d like to support, such as a local animal shelter, senior centre or food bank. If you enjoy active sports, join a local team or club. If you’re into less strenuous activities, consider a joining a bowling or bocce ball team.
9. Catch up on rest
It’s been a busy week, and you’re feeling sleep deprived and run down. While sleeping in isn’t a good idea, successful entrepreneurs know when they need to catch up on some much-needed rest. A 10- to 20-minute power nap may be just the thing to help you feel refreshed and alert – a short snooze is actually much more effective than a cup of coffee in providing an energy boost.
It’s best to keep naps short: 30 Minutes or less. Longer naps are more likely to leave you feeling groggy and can interfere with your nighttime sleep quality. So when that wave of post-lunch sleepiness hits, go ahead: Indulge in an mid-afternoon nap and enjoy the rest of your weekend!
This article was originally posted here on Entrepreneur.com.
How Lorenzo Escobal Bootstrapped His Way To Competing With Titans And Attracting Top-Tier Clients
Inception Automotive Detailing was founded in 2011 by Lorenzo Escobal. He was only 18 at the time, and the business started small, but Lorenzo has grown it significantly over the last few years and aligned it with top brands. His secret to success? Being proactive and not being afraid to ask for what he wants.
- Player: Lorenzo Escobal
- Company: Inception Automotive Detailing
- Location: Toronto, Canada
- Established: 2011
- Visit: inceptionautodetailing.com
As is often the case in the world of entrepreneurship, Lorenzo Escobal launched his own business purely out of necessity. Attending university in 2010, he realised that finding a job shortly after North America had experienced a financial meltdown wouldn’t be easy. If he wanted to be sure of an income, he would need to create it for himself. So, having detailed cars for friends and family since he was 15, he decided to launch his own operation called Inception Automotive Detailing.
He bootstrapped the business — launching with just $1 200 — and grew it slowly. Today, the company boasts clients like Google and Tesla. Here are Lorenzo’s tips for bootstrapping a small business capable of competing against much bigger players and attracting top-tier clients.
1. Build a great website and market online
The fact of the matter is, your company is judged largely by the quality of its website and online presence these days, especially if you’re taking your product/service to the client. Even if you don’t have fancy premises, you can create a professional appearance by investing in a great website.
Most people are going to find you through your website, so make sure it instantly impresses. Also, invest time and money in creating effective online marketing campaigns on Google and Facebook. Funnily enough, Google approached us about detailing work by finding us on Google.
A good website and good online reviews got us a foot in the door. From there, we could prove ourselves through our work.
2. Learn to network
Attracting clients online is important, but real-world networking shouldn’t be neglected either. There is immense value in joining professional organisations and attending conferences. It’s a great (and affordable) way to market, and you never know how the connections you make may pay off down the line. Networking and being in the public eye also builds credibility for your business. I’ve put a lot of time into getting my name and brand out there, but it’s been worth it.
3. Remember that no one is truly ‘self-made’
Every entrepreneur benefits from the wisdom and hard work of others. I’ve had great mentors who have helped me immeasurably in growing my business. I’ve also had the privilege of working with a great team who has helped me make the business what it is today. I do my best never to forget this, and I view myself not as a boss, but as a part of a team. Sure, I attend a lot of conferences and events, but I also jump in and help when there’s a lot of work to do.
As an entrepreneur, you need to be willing to get your hands dirty and do whatever’s needed — even if that means grabbing a mop and cleaning a dirty floor.
4. Make things happen
As an entrepreneur, you need to create opportunities, not wait for them to fall into your lap. I managed to get work from Tesla, for example, simply by asking for it. I filled out the contact form on the Tesla website and got a reply three days later.
Many entrepreneurs think that it’s pointless to approach large organisations because they’ll never want to do business with a small operation. Never simply assume that. Just ask, and see what happens. Sure, you’ll have to deal with a lot of rejection along the way, but that comes with the territory. Great entrepreneurs are never afraid to put themselves out there.
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