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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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25 Of The Most Successful Business Ideas In South Africa

Find out who’s making waves in numerous industries and how they managed to differentiate themselves in local and international industries.

Nicole Crampton

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“Disruption is all about risk-taking, trusting your intuition, and rejecting the way things are supposed to be. Disruption goes way beyond advertising, it forces you to think about where you want your brand to go and how to get there,” says Richard Branson.

South Africa has its fair share of innovative and disruptive businesses taking both local and international industries by storm. From cutting edge space technology to reimagined logistics, and innovative business models, here are 25 of the most successful business ideas in South Africa:

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Colin Timmis Says ‘Position Yourself For Success By Starting With The Numbers’

People pay first who they feel pressure from, so people will pay you when they feel pressure from you.

CEOwise

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Entrepreneur Colin Timmis founded South Africa’s first cloud accounting practice in 2011, Real Time Accounting. Then, a few years after being appointed as South Africa’s first Xero partner Colin became Xero Country Manager South Africa. Xero is the emerging global leader of online accounting software that connects small businesses to their advisors and other services.

Related: Pat Pillai On How He’s Helped Over 5000 Entrepreneurs Using 3 Key Steps

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Two 20 Year Olds Reshape Entrepreneur Landscape With New Social Investment Platform

The Merge vision is to become the ‘go to’, digital meeting place for entrepreneurs and investors, and to truly make a difference in the world.

Merge Connect

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It’s no secret that finding the right investor for your venture is a challenge that most entrepreneurs face. The current process of finding investment is one that is outdated, and limits entrepreneurs due to a lack of time, and network that is needed to find the right investor. But, this doesn’t have to be the case in today’s digital society, says Zander Matthee and Brandon Bate, co-founders of Merge.

“By making the Internet the middleman, we are able to connect with each other much simpler and faster than before” was Zander’s response. “We have taken advantage of this, and have created a digital meeting place for entrepreneurs and investors” added Brandon.

Merge is a social platform that connects entrepreneurs and investors. It aims to simplify, refine and accelerate the process of finding investment for entrepreneurs, and the process of finding investment opportunities for investors. From idea to developed, the platform allows entrepreneurs to present a brief outline of their venture to a network of all investor types. While doing this, entrepreneurs are able to browse through, and connect with investor profiles that suit their requirements.

Related: 8 Codes Of Success That Helped Priven Reddy of Kagiso Interactive Media Achieve A Networth Of Over R4 Billion

From Private Investors to Venture Capital, and everything in between, Merge allows all investor types to join. Investors have the opportunity to personalise their feed to suit their investment preferences, and will be able to connect with innovative businesses – that are looking for investment – at their fingertips. Only once there is a mutual interest in each other, are users able to enter a secure private chat where they can discuss further and share documents under the protection of a digital NDA.

The two boys became good friends during their time in high school at St Stithians Boys College. However, it was only in their last year, 2016, that they decided to pursue their dreams and create the platform. They didn’t know how to code, so rather ironically, they needed some form of investment to get the platform off the ground.

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“We knew we had a mountain to climb, but we believed in our vision and that we were really trying to make a difference, and if we could get others to see that, they would be onboard.” said Zander.

Related: Lessons From The Rich And Famous: Manage Your Money Like Oprah To Avoid Going Into Debt Like Nicholas Cage

Chris Peters is one of these individuals that bought into their vision, and became Merge’s first investor. As a successful entrepreneur and part time investor , Chris saw how much value the platform could bring to all entrepreneurs and investors alike. His marketing and strategic background gave him insight into how Merge could play a vital role in a lucrative space, Brand involvement.

“Entrepreneurship and SME development are two key factors that drive economic growth in developing countries like South Africa. That is why brands are currently getting involved, and looking to support entrepreneurs through various means. We have built a platform that allows these brands to successfully market, and execute on the programmes they have created to assist entrepreneurs.” said Chris

Merge was created to assist all entrepreneurs and investors in finding exactly what they are looking for, regardless of age, race, sex, financial position or social status. That is why anybody can sign-up as an entrepreneur. As long as you are determined and willing to work for your dreams. For too long has the investor space been seen as an “elite club for the select few”, and Merge is here to change that. Whether you’ve gotten your bonus at the end of the year and looking for new investment opportunities, or are an active investor, you can sign-up. Whether you’re currently working, or a retired industry leader, you can join as a mentor.

Their vision is to become the ‘go to’, digital meeting place for entrepreneurs and investors, and to truly make a difference in the world.

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