Connect with us

Snapshots

SDT Financial Software Solutions: Freda Du Toit

A local software company is helping to revolutionise the insurance industry.

Monique Verduyn

Published

on

Freda du Toit of SDT

Witnessing the growth and development of the women she has worked with has been a highlight of Freda du Toit’s career.The co-founder and executive director of Pretoria-based SDT Financial Software Solutions has an in-depth knowledge of the financial services industry, based on 18 years’ experience. She has put her expertise to work by becoming a mentor in the Women in IT project.

Du Toit believes that mentoring relationships are about personal development and growth, and that South African companies would be well advised to promote women-mentoring programmes to enable the country to achieve the sought after critical mass of women in top positions.

“Women from previously disadvantaged communities seldom have people they can turn to for business advice,” Du Toit says. “The business community therefore has a vital role to play in helping women with potential to grow and to create a long-term career view for them.”

It’s her belief that she can make a difference that spurred her on to create SDT back in 1995, with business partner Jaco Swanepoel. Her background was in maths, accounting and IT, while Swanepoel had experience as an actuary. “We were both working at Momentum at the time,” she recalls.

“What drove us to launch SDT was the persistent feeling that while big companies know what they should be doing, operational pressures often force them to do other things instead. We identified a gap in the market for a company that could combine its industry knowledge with software engineering capability to build solutions that address the changing requirements of financial services providers. Our goal was to bridge the gap between business needs and IT.”

Momentum became SDT’s first client, along with several other business and IT consulting jobs, but the company’s big break came when it was approached by a life assurance group in Namibia to develop an administration system.

“That basically funded the development of the first version of our software,” Du Toit notes. In 2006 SDT was acquired by a consortium as part of a reverse listing onto the JSE Securities Exchange. The R50 million listing enabled a black economic empowerment transaction, Silver Bridge Holdings, which is listed on the AltX and headed up by Swanepoel.

In terms of the deal, Kagiso Trust Investments acquired 20% of Silverbridge and SDT became the first company in the Silver Bridge Group.“The deal was driven by our desire to find a BEE partner and it was facilitated by our venture capital partner,” Du Toit says.

“It has given the group as a whole, the ability to service a broader range of players in the financial services industry.” Silver Bridge focuses on providing business application software solutions in a number of industry verticals. The group aims to expand through the acquisition of niche business application software providers.

“This is in line with our vision to make a difference to business through technology,” Du Toit says. SDT’s African customers include companies in Namibia, Zimbabwe, Malawi, Kenya, Swaziland, Lesotho, Ghana, Nigeria and Mauritius. At home, clients include Metropolitan, Regent Insurance, Hollard,and Sanlam, and others in the micro-insurance market. More recently, the company has aligned itself with the development of an enterprise architecture blueprint for the insurance industry.

“The insurance sector needs to redefine and reinvent itself to become more efficient,” says Du Toit. “High costs in the industry are largely due to ageing, poorly defined processes, which in turn are fulfilled by applications running on costly mainframes.

Our approach removes the duplications, bottlenecks and redundancies that characterise IT in this sector. By aligning ourselves with the principles of enterprise architecture, we are helping to streamline the entire industry.” Du Toit maintains that SDT’s focus on getting business architecture into the public domain continues to differentiate the company from its competitors.“Continuous learning is vital, and companies that keep pace with where the industry is going are able to contribute to its growth in a positive and lucrative way.” Contact: +27 12 360 0100; www.sdt.co.za

Monique Verduyn is a freelance writer. She has more than 12 years’ experience in writing for the corporate, SME, IT and entertainment sectors, and has interviewed many of South Africa’s most prominent business leaders and thinkers. Find her on Google+.

Franchisors

Meet Jan Grobler: Serial entrepreneur, Advocate, And Job Creator

It is the authors’ sincere hope that young South-African entrepreneurs will learn from wiser business men such as Jan Grobler and co-create a vibrant and legacy driven entrepreneurial environment in our country.

Dirk Coetsee

Published

on

jan-grobler

Jan Grobler has either directly or indirectly created 10 000 jobs and he is not done with forming a lasting legacy. The author can call on various titles in an attempt to describe this serial entrepreneur: Advocate, Founder, Franchisor and Project manager, yet no label can fully embody his unique skill set, experience, and entrepreneurial spirit.

As a highly enthusiastic observer of business leadership traits in others, I noticed Jan’s’ strong willed and passionate intent to create more businesses, ignite exponential growth within them, and ultimately deliver numerous job opportunities to South-Africans, from the onset of the interview.

As an advocate and MBA graduate Jan had a solid academic foundation that served him well on his entrepreneurial journey. “Working back” the bursary he had from Sanlam he values the learning he received from older and wiser entrepreneurs that he had established trusts for. He learnt to be a good listener and increase his emotional intelligence by making mental notes when the older entrepreneurs imparted some of their wisdom and experience and then taking action on the accumulated learnings.

Related: The Anatomy Of Peak Performance

The value of being a “Global Citizen”

coffee2go

Jan is a global citizen and has “back packed in 46 countries” accumulating cultural and business learnings as he travelled. He shared an example of waitresses in a South-American country “doubling up” as secretaries offering additional services such as fax and the recording of minutes of meetings thereby adding more dimensions, services, and income streams to a coffee shop operation.

The words rolled of his tongue with enthusiasm as he described how modern times has provided multi-dimensional opportunities for an entrepreneur such as being in your office in Centurion, South-Africa, purchasing products online from China , and then selling online to purchasers in Italy. Jan sees the future of franchising in South Africa as moving more and more towards “mobile outlets”. He has extensively researched the international “mobile franchising market” and is very excited about the possibilities for growth in South-Africa with regards to this market segment.

He is one of the founders of Fit chef and is currently developing the franchise system “Cafe2go”(Mainly a mobile concept) of which there are currently twenty five outlets. On his entrepreneurial journey Jan has developed eighteen brands of which he was a cofounder and as a contracted project manager he has assisted in facilitating the exponential growth of hundreds more companies.

Channels and revenue streams

coffee-to-go-pictures

As the aroma and taste of another Cafe2go Cappuccino held my attention Jan elaborated on four more revolutionary franchising concepts that he is co-developing. He said that success in business is highly dependant upon doing things better than others and offering a unique service and product.

Related: Business Leadership: Leading A Culturally Diverse Business Team

Jan pointed out that he sees himself as a “channel creator” and it was clear to the author that through his vast experience and entrepreneurial acumen he has a high vantage point from which to see opportunities for the creation various funding models, sales channels and revenue streams, that combined causes exponential business growth.

This entrepreneur is very proud of his first start-up company of which he is still the CEO called Curator. Curator was started to, and still does assist entrepreneurs to grow their businesses, whether it be through growth interventions or for example raising capital or franchising the business.

Jan has never stopped learning whether it be from learnings accumulated from engaging other entrepreneurs or knowledge obtained from books. More importantly he continues to apply this learning in helping businesses to grow and create more and more jobs. Jan is building a legacy that any entrepreneur can be proud of. It is the authors’ sincere hope that young South-African entrepreneurs will learn from wiser business men such as Jan and co-create a vibrant and legacy driven entrepreneurial environment in our country.

Continue Reading

Snapshots

Bob Skinstad On Making An Impact With The 80/20 Principle

The 8020 principle is one of the most powerful success secrets in the world — provided you implement it. Most people have heard of it, few put it into action. Bob Skinstad is re-energising an age-old principle by sharing a collection of real-life examples from highly successful people of 8020 in action. Here’s how you can start embracing an 8020 mindset today — and see phenomenal results in return.

Nadine Todd

Published

on

bob-skinstad

Vital Stats

  • Player: Bob Skinstad
  • What he does: Bob is an ex-Springbok rugby captain, businessman, entrepreneur, a director at venture capital firm Knife Capital and has recently developed an online course for millennials, 8020 Mindset.
  • Visit: www.knifecapital.co.za and 8020Mindset.com

When Gary Kirsten arrived in India in 2008 as the new coach of the Indian cricket team, he recognised he had a key problem. Many of the players on the team were not only more famous than he was, but more skilled as well. How do you coach Sachin Tendulkar, one of the greatest batsmen of all time, on his stroke? You tell him to keep doing what he’s doing, and get out of his way.

But Gary did need to find a way to build trust between himself and his new team. There were many superstars in Indian cricket, and yet the national team’s results weren’t good, mainly because they didn’t operate as a cohesive unit.

Implementing the 80/20 principle

To really make an impact, he turned to the 8020 principle. What small but significant area could he turn all of his attention towards, to achieve 80% of the results he was looking for?

Related: 8 Lessons Rugby Can Teach Us On Achieving Peak Performance In Business And Life

He realised that the one thing he had that most of the other players on his team did not, was time. Cricket is extremely popular in India, and the members of the national cricket team had a lot of endorsement deals, which meant they were very busy. Whatever happened, Gary knew he could outwork them. For the first 200 days of his contract, he spent every day at the batting nets, from 6am to 6pm. Each time a player came to the nets, he was there, ready to assist them, or simply to show he wasn’t going anywhere. He also spent those 200 days really studying his team members and listening to them.

By leveraging this one key area, Gary built the trust he was looking for, and learnt an enormous amount of information about his players. He found the one place that would make the biggest impact. Three years later, that team went on to win the World Cup.

Game-changing principles

“What’s incredible about the 8020 principle is that it’s relevant in every single facet of life,” says Bob Skinstad, an ex-Springbok rugby captain, businessman and now venture capitalist.

“Gary is just one successful person in his industry who has shared his 8020 experiences with me; there are so many real-world examples. I first discovered it while I was playing rugby in my early 20s, and I read Richard Koch’s book, The 80/20 Principle: The Secret to Achieving More With Less, but I use it in my business development capacity at Knife Capital today, and have applied it in various ways throughout my life and career. It’s an absolute game changer if you understand how to apply the principles, and the success that putting pressure on the right levers can achieve in your life.”

To say Bob is passionate about fostering an 8020 mindset is an understatement. In fact, he believes so strongly in the principle that he approached Richard Koch himself to discuss how he could help millennials to embrace 8020 to lay the right foundations for their own futures and careers.

Sharing and teaching lessons learnt

“Richard has a house in Cape Town. I managed to get his contact details and sent him a long email explaining how we had used his principles in the Springbok rugby team. We were a young team, and we used 8020 to figure out who needed to get their hands on the ball at which times of the game to make the biggest impact. Our game improved markedly once we started applying Richard’s principles, and that led me to implement it in everything I did. Richard loved the fact that we had applied it in such different ways to how he’d laid the principles out in his business management books.

“I really wanted to share all the lessons I’d learnt, and also the experiences of so many other sportsmen, business leaders and entrepreneurs whom I know have used 8020 to achieve success. I didn’t want to write a book though — I thought a course would be more immediate and practical, particularly for millennials, who I believe can really benefit from fostering an 8020 mindset early in their careers. Richard and I collaborated on the course. I wrote the content, recruited a number of my contacts to share their own success stories, and Richard reviewed all the material before it went live. It’s been a great experience, and one I hope will spread the word of how significant a shift to the 8020 mindset can be. Once you understand the principles in action, it becomes the lens you use to make all of your decisions, which has an exponential impact on your life, business and career.”

80/20 in Action

8020-mindset

In all business and personal development theories, there is a vast gap between understanding the theory and actually putting it into practice. Using the 8020 principle on itself, only 20% of the people who are exposed to 8020 will actually implement it, but they will reap 80% of the rewards as a result.

The problem is that reading about a theory is easy. Putting it into practice is hard. It takes discipline, and a real understanding of how the principles work.

If you’ve been exposed to 8020 (also known as the Pareto Principle) before, you know that 20% of a sales team is responsible for 80% of a company’s revenue, 20% of clients bring in 80% of business, and 20% of your actions each day impact 80% of your life. Imagine if you knew which 20%, and could put all of your attention into those key areas. Imagine how you would supercharge your own growth and success, opening hours each day to concentrate on high priority tasks instead of getting sucked into the quagmire of ‘busyness’ we all fall victim to without even realising.

80/20 principle in action

“A few years ago, I was involved in a restaurant in Cape Town. We realised that 80% of the food customers ordered came from 20% of the menu. Through this simple insight, we were able to take a 36-page menu down to two pages. We saved costs on wastage, streamlined kitchen processes, and increased our efficiencies and customer service levels through this one simple change.

“The hardest part is getting started. Once you see success in one area though, you naturally start looking for the 8020 in other areas of your life, and before you know it that’s how you look at everything,” explains Bob.

Related: 5 Things Businesses Can Learn From Rugby

“I see examples of 8020 everywhere, but I also see a lot of what I call ‘2080’ thinking. Take the ‘latte factor’ as an example. A few years ago, the idea took hold in the US (and South Africa) that if you just stopped drinking a latte once a day, you’d save $250 in 100 days. I disagree completely. If you really want to impact your savings, renegotiate your bond with your bank once a year. That will give you a far greater saving than cutting out lattes, and you haven’t deprived yourself of something that makes life pleasant. One key negotiation at the right time will have a much bigger impact on your life — speak to your bank, negotiate a raise — but look at the key area that will have an 80% impact, instead of an almost insignificant impact. That’s where you should be putting your willpower, energy and self-discipline.

“Gym is another great example. We’re told to spend 20 minutes a day at gym. That’s great for your health, and you should do it, but in terms of weight loss and body shaping, it’s negligible if you compare it to changing your eating habits. Gym is 20% of your body. Eating is 80%. Where should you be putting your focus? Instead, we see people gyming and then eating two packets of chips, and wondering why they aren’t losing weight. It’s all about what levers you pull, and where you put your focus.”

Small changes, big results

In 2017, Bob brokered local VC firm Knife Capital’s expansion into the UK. Based in the UK, Bob’s role as a director at Knife Capital is business development — how can Knife Capital assist its investments to build high-impact businesses from a small base?

“Once again, 8020 hits the target every time,” he says. “We’ve recently invested in a Swedish-based business called MOST, which develops environmental monitoring solutions for the transport and shipping industry. An early investor in MOST is King Digital Entertainment, the creator of Candy Crush. We love MOST. It’s tracking really nice numbers, the management team is excellent, the product is next level, the business model allows for recurring revenues — but our aim as an investor is to grow the business. We needed to analyse which areas to concentrate on that will have the biggest impact on growth. Through applying 8020 we realised that 12% of MOST’s current customers are responsible for 82% of the business’s revenues.

“How much energy, time and resources are put into the other 88% of clients who are only responsible for 18% of the company’s revenue? And what can be done to bring more customers on board who are like the 12%, and not the 88% of MOST’s customer base? Focus on the right areas, and you’ll exponentially grow your revenues without increasing overheads or expending more energy — in fact, you could actually do more in less time, with fewer people, if you know where to concentrate your efforts.”

How to apply the 80/20 principle

Bob believes that at its core, 8020 is common sense — you just need to apply your mind to the principles, and ask the right questions: What’s your 8020? Who are your biggest customers, where are you spending most of your time, which actions have the biggest impact, and where are your waste areas? And in each case, can you 8020 the results you’re looking for? What’s the 20% that will generate 80% of your returns, or impact 80% of your success? What’s the 20% that will affect the world and your customers’ lives and businesses?

Local entrepreneur Keith Rose-Innes shares how he increased Seychelles’ fly-fishing tourism industry by 600%:

Keith Rose-Innes built his profile and expertise to become the go-to-guy for building fly-fishing trips around the world. Based on this expertise, Seychelles tourism hired him to increase visitor numbers to their islands.

The Seychelles is isolated and expensive. Keith did his research, and discovered that only 20% of fly-fishing agents were responsible for most of the fly-fishing trips booked around the world. Instead of spreading his efforts, he concentrated exclusively on those top agents, pitching the reasons why they should promote the Seychelles to their clients. Within six months he’s increased year-on-year sales on the islands by 100%. This grew to 600% over the course of four years — simply because Keith focused his efforts where he would have the greatest impact.

Related: Joel Stransky Shares His Insights On What Makes A Great Leader


Take the course

8020 Mindset is a five-hour online course endorsed by Richard Koch and presented by Bob Skinstad. It’s designed to help participants think like results-orientated super-performers.

Visit: 8020mindset.com or email info@mindset.com for more information on the course and corporate talks.

Continue Reading

Snapshots

Lesego Maphanga of Standard Bank

Lesego Maphanga is young (he only graduated in 2014 with an Industrial & Systems Engineering degree), yet he has already made a name for himself in multiple industries. His secret to success? Always doing more than is asked of him.

GG van Rooyen

Published

on

lesego-maphanga-of-standard-bank

Vital stats

  • Player: Lesego Maphanga
  • Company: Standard Bank
  • Position: Manager: Card & Emerging Payments; Africa Regions
  • About: At only 27, the maths & science whizz works at Standard Bank as an Emerging Payments manager responsible for implementing remittances products across multiple African Regions. He also has his own radio show on CliffCentral called the Urban Culture Drive, and is founder of social entrepreneurship movement called Unplugged and in Charge.

I studied engineering knowing right from the start that I would never work as an engineer. I just couldn’t see myself working at a mine, or something like that, but I knew that engineering would give me a solid foundation and allow me to keep my options open. A STEM (science, technology, engineering, maths) degree is a great base, as it shows that you have a mind for numbers and the analytic mindset needed to get things done. I don’t think you can go wrong with a degree in one of these fields, even if entrepreneurship is your ultimate aim.

Related: 20 Quotes On Coping With Change From Successful Entrepreneurs And Leaders

How can I set myself apart?

You have to ask yourself this question. There’s a lot of competition out there. You might have a great academic history or work experience, but so do a lot of people, so you need to have a differentiator — something that makes you stand out. I entered Mr South Africa, for example, because I knew that it would increase my profile and add something interesting to my CV. I didn’t win, but I was a top-five finalist, which was good enough for me.

Find interesting things to add to your CV as well, since it’ll make it stand out in a massive pile of similar submissions.

Always go the extra mile

I had a lecturer who always said: “There are two kinds of bad engineers. There are those who don’t do what they’re told to do, and there are those who only do exactly what they’re told to do.” You need to add value and show that you are a crucial part of a team, so don’t just do what you’re told. Instead, look for ways in which you can go beyond the brief. Work hard and spend time coming up with your own ideas and projects. At the end of my studies, I interned at Standard Bank. I knew that I only had five weeks to make an impression, so I gave it my all. When you’re young, you don’t have many responsibilities apart from work, so that’s the time to put everything into your work.

Be audacious and make things happen

Seizing an opportunity that comes to you is great, but creating your own opportunities is even better. Don’t take no for an answer, and don’t wait for someone to give you a chance. A friend and I had an idea for a radio show and decided to put a proposal together. We had no experience and no contacts in the field, but we emailed our proposal to everyone we could think of. We spammed them, sending it out every single day. Eventually, CliffCentral got in contact 
with us.

Related: Design The Life Of Your Dreams Using These Simple Tips

I don’t want a ‘normal’ life

I want an extraordinary life, so I demand a lot of myself. I think Elon Musk is a great example of this. He’s doing things no one thought possible. Of course, it requires extreme levels of dedication and hard work. If you’re aiming for the top, I don’t think work/life balance is possible. You need work/life integration. You need to be pursuing your passion all the time. If you’re on a path you’re truly interested in, work doesn’t feel like sacrifice.

Exercise is important to me

I go to gym twice a day. It’s significant to me, as it allows me to relax and clear my mind. It also provides structure to my life. When I get up early and go to gym, I find that the rest of my day falls into place. It sets the tone. As long as I maintain focus in this part of my life, I find that things overall stay under control. Sometimes, though, I need to take a day off and just sit in front of the TV. Generally speaking, however, I find that routine helps maintain focus and momentum.

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

Entrepreneur-Newsletters
*
We respect your privacy. 
* indicates required.
Advertisement

Trending

FREE E-BOOK: How to Build an Entrepreneurial Mindset

Sign up now for Entrepreneur's Daily Newsletters to Download​​