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Business Partners Limited Explain What It Takes To Have The X (Fundable) Factor

Do you have what it takes to build a highly-scalable company that will change your market and the lives of your customers and employees?

Nadine Todd

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Vital Stats

  • Player: David Morobe
  • Position: Regional General Manager
  • Company: Business Partners Limited
  • Visit: businesspartners.co.za

The characteristics that make a business owner fundable are the same characteristics that breed success. Whether or not you’re looking for funding, if you want to grow a high-impact organisation that shapes or even changes your industry, contributes to the economy and changes lives, David Morobe, Regional General Manager at Business Partners Limited believes that you should be embracing these traits.

Related: ReWare Did One Crucial Thing That Most Entrepreneurs Are Too Afraid To Do

The right attitude is the foundation of success

We see entrepreneurship as an innate quality, not because some people have a sixth sense for business, but rather because they’re willing to put in the time and effort to be exceptional business people. Business skills can be acquired. There are courses, books, even on-the-job learning and working with a business coach that any entrepreneur can invest in.

The only question is whether you’ll put in the time. That drive to continuously improve is a key factor for us. When we see it, we know our risk in investing in that business is mitigated. You’re less risky the more you know. It’s that simple.

There’s a direct correlation between commitment and success. This was an interesting lesson for us to learn. Over the years Business Partners Limited has refined the way we evaluate which businesses we invest in.

Our credit committee always looks for ways to objectively assess entrepreneurs, and we’ve implemented psychometric assessments amongst a range of other metrics that we test for.

What we’ve found is that entrepreneurs who score high in commitment often have more successful businesses in the long run.

Business is all about meeting obligations

These commitments range from delivering what you promised to clients on time and within an expected range of quality, to running an organisation that looks after your employees, to making a valuable impact on the community around you.

How good are you at honouring your obligations to suppliers and debtors? As funders we’re obviously concerned with how well business owners meet their obligations, but it’s a much bigger determining factor to overall success as well, as it speaks to the individual’s work ethic and overall commitment to good business practices.

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Honour and commitment

How you approach business interactions creates a map that others can follow and use to judge you. Remember that. This isn’t only important when dealing with potential funders and investors, but business partners, customers and even potential employees. You need to be authentic in how you do business.

Related: 3 Become 1: The Story Of How IS SME Business, MWEB Business and IS Ignite Merged

Integrity is a given

It needs to be there. It’s important for any deal. It shows respect and is a good indicator of whether or not this will be a profitable relationship for all parties involved.

Business is often a calculated risk. Whether you’re choosing to partner with someone, trade with them or invest in them, you need to trust them. Be authentic and transparent. If this makes you uncomfortable, there might be a deeper problem you need to address.

Surround yourself with a good team

Scaling a business is about how well your company continues to operate without you there. A successful business must be a legal entity that can sustain itself. Are you able to travel overseas and to new markets to grow the business, while your managers and employees keep the business running to the same level of excellence in your absence?

Focus on building processes and systems that free you up. You need to make yourself redundant. Build it up so you can leave. That’s the trick. Focus on that; not on how hard you work. Focus on how smart the company can work — that’s the metric you want.

Remember this

There’s a direct correlation between commitment and success. Do you always meet your obligations, no matter what?

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

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27 Of The Richest People In South Africa

Here are 27 of South Africa’s richest people, but how did they achieve this level of wealth? Find out here.

Nicole Crampton

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Learn the secrets of SA’s most successful business people, here is the list of the 27 richest people in South Africa:

In a world with growing entrepreneurship success stories, victory is often measured in terms of money. The feat of achieving a place on this list is, however, years of hard work, determination and persistence. “One has to set high standards… I can never be happy with mediocre performance,” advises Patrice Motsepe.

From the individuals that made the 27 of the richest people in South Africa list, actual entrepreneurs and self-made business people dominate the list; while those who inherited their fortunes have gone on to do even bigger and better things with their wealth. Over the years, some have slipped off the list, while others continue to climb higher and higher each year.

  1. Elisabeth Bradley
  2. Sharon Wapnick
  3. Bridgette Radebe
  4. Irene Charnley
  5. Wendy Ackerman
  6. Paul Harris
  7. Wendy Appelbaum
  8. Mark Shuttleworth
  9. Desmond Sacco
  10. Giovanni Ravazzotti
  11. Markus Jooste
  12. Gus Attridge
  13. Gerrit Thomas Ferreira
  14. Cyril Ramaphosa
  15. Adrian Gore
  16. Raymond Ackerman
  17. Michiel Le Roux
  18. Lauritz Dippenaar
  19. Jannie Mouton
  20. Stephen Saad
  21. Patrice Motsepe
  22. Allan Gray
  23. Koos Bekker
  24. Ivan Glasenberg
  25. Christoffel Wiese
  26. Johann Rupert
  27. Nicky Oppenheimer
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Watch List: 50 Top SA Black Entrepreneurs To Watch

South Africa needs more entrepreneurs to build businesses that can make a positive impact on the economy. These up-and-coming black entrepreneurs are showing how it can be done.

Nicole Crampton

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Early-stage South African entrepreneurial activity is at an all-time high of 11%, according to Global Entrepreneurship Monitor, and entrepreneurial intentions have also increased to 11.7%. With both activity and intentions growing significantly year-on-year, there are more businesses opening up around South Africa than ever before.

The increase in entrepreneurship has seen the rise of more black entrepreneurs across numerous sectors. From beauty brands to legal services and even tech start-ups, these are 50 top black entrepreneurs to watch:

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Watch List: 50 Top SA Small Businesses To Watch

Keep your finger on the pulse of the start-up space by using our comprehensive list of SA small business to watch.

Nicole Crampton

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Entrepreneurship in South Africa is at an all-time high. According to Global Entrepreneurship Monitor (GEM), total early-stage entrepreneurial activity has increased by 4.1% to 11% in 2017/2018. This means numerous new, exciting and promising small businesses are launching and growing.

To ensure you know who the innovative trailblazers are in the start-up and small business space, here are 50 of South Africa’s top establishing companies to watch, in no particular order:

  1. Livestock Wealth
  2. The Lazy Makoti
  3. Aerobuddies
  4. Mimi Women
  5. i-Pay
  6. AfriTorch Digital
  7. Akili Labs
  8. Native Décor
  9. Aerobotics
  10. Quality Solutions
  11. EM Guidance
  12. Kahvé Road
  13. HSE Matters
  14. VA Virtual Assistant
  15. Famram Solutions and Famram Foundation
  16. BioTech Africa
  17. Brand LAIKI
  18. Plus Fab
  19. LifeQ
  20. Organico
  21. 10dot
  22. Lenoma Legal
  23. Nkukhu-Box
  24. Benji + Moon
  25. Beonics
  26. Brett Naicker Wines
  27. Khalala
  28. Legal Legends
  29. The Power Woman Project
  30. Aviro Health
  31. AnaStellar Brands
  32. Data Innovator
  33. Fo-Sho
  34. Oolala Collection Club
  35. Recomed
  36. VoiceMap
  37. ClockWork
  38. Empty Trips
  39. Vula Mobile
  40. SwiitchBeauty
  41. Pineapple
  42. The Katy Valentine Collection
  43. OfferZen
  44. KHULA
  45. Incitech
  46. Pimp my Book
  47. ART Technologies and ART Call Management
  48. Prosperiprop
  49. WAXIT
  50. The Sun Exchange
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