Wajdi Abrahams, director of Siyakhula Business Consulting, has a long history in mentoring people in the small to medium business sector. He started off contracting for a Cape Town-based NGO that was one of the first local business service centres to be accredited when government had just started placing focus on small business development. After that, he managed the enterprise development programme for another NGO and then moved to the International Labour Organisation.
For the last five years, Abrahams has been contracting for SAB’s KickStart Programme. His involvement in the regional and national legs is extensive and spans development of programme material; recruiting and selecting candidates; training; assisting in business plan development; participating in interviews with external adjudicators; allocation of grants; and mentoring candidates once they have received a grant. Mentoring makes up a crucial part of the programme and can run up to eight or nine months.
“KickStart is a tough business focused competition, but there is a strong corporate social investment element to the programme, in that it deals with people who would not have the opportunity, under normal circumstances, to start their own business,” Abrahams points out. This means that candidates, while they may have the ideas and the drive, don’t necessarily have the skills needed to set up and run a successful business.
Their needs reflect those of all start-up entrepreneurs and include what he calls “the usual suspects” – lack of numeracy and financial knowledge, lack of marketing skills and being too product driven. “People focus too much on their product instead of running a cost-effective business,” he says. “The reason is that they have been trained to know the product but not how to run a business.
When dealing with these challenges, Abrahams points to how invaluable learning is. “I like to focus on the learning cycle: knowledge, attitude, behaviour, skills. If I am able to improve someone’s knowledge and attitude that will in turn impact their behaviour and their skills.” One thing he is passionate about is lifelong learning. “My advice to entrepreneurs and people starting businesses is to make sure that you are always learning,” he says. “Probably the most powerful tool you have is your mind,” he continues, elaborating on the power of positive thinking.
“Entrepreneurs often go through periods of self-doubt – thinking that you are going to fail can lead to actual failure. It’s difficult to be successful if you don’t believe you can do it,” he says. Although mentoring plays a crucial role in helping people with business start-up, Abrahams is adamant that “mentoring” should never be “doing”. “It’s like cycling in a race,” he says. “It’s your bicycle – you ride it. I will be there every ten kilometres to tell you to check your brakes, drink some water, stay focused, but I can’t ride the race for you. I can’t run your business for you either.
But I can help you along the way with some direction or motivation.” It’s an important point. Entrepreneurs can come to rely too heavily on a mentor, and never build up confidence in their ability to make their own decisions.
“A good mentor understands the difference between his strengths and weaknesses and those of the person he is mentoring,” Abrahams explains. “When you know what a person is capable of, you know where to push him to dig just a little bit deeper.” He also highlights the importance of playing devil’s advocate, to emphasise to the entrepreneur that they need to be prepared if things don’t go the way they had hoped. Mentoring can be of benefit to any entrepreneur, so where does one find a good one? Business coaches fill this role, but as Abrahams points out, a mentor doesn’t need to be someone who is formally in the mentoring business.
It can be a family member or friend, or another business person, but most especially other entrepreneurs who have experienced similar growing pains. He makes a simple but important observation: “It all comes back to a willingness to learn. When you want to learn, you start talking to other people, and when you do that, people talk back to you. You’d be surprised how willing they are to share their experiences.”
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.
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:
- Livestock Wealth
- The Lazy Makoti
- Mimi Women
- AfriTorch Digital
- Akili Labs
- Native Décor
- Quality Solutions
- EM Guidance
- Kahvé Road
- HSE Matters
- VA Virtual Assistant
- Famram Solutions and Famram Foundation
- BioTech Africa
- Brand LAIKI
- Plus Fab
- Lenoma Legal
- Benji + Moon
- Brett Naicker Wines
- Legal Legends
- The Power Woman Project
- Aviro Health
- AnaStellar Brands
- Data Innovator
- Oolala Collection Club
- Empty Trips
- Vula Mobile
- The Katy Valentine Collection
- Pimp my Book
- ART Technologies and ART Call Management
- The Sun Exchange
How 28-Year Old Entrepreneur Adam Fine Is Leveraging The Global Phenomenon Of Five-A-Side Football
Adam Fine of Fives Futbol discusses how he leverage a global phenomenon and the value of strategic partnerships in business.
- Player: Adam Fine
- Company: Fives Futbol
- Est: 2011
- Visit: www.fivesfutbol.co.za
Nothing about Adam Fine is by-the-book. The 28-year-old entrepreneur describes himself as a slightly big child. He’s the CEO of one of the most exciting start-ups in South Africa, having leveraged the global phenomenon of five-a-side football to start a business that has grown almost as fast as the game itself. Not bad for a venture that was launched with the princely sum of R85 000 — Fine’s life savings at the time.
He started it in 2011, with a strong focus on corporate social investment and making a positive social impact. It was by forming strategic partnerships that Adam really managed to grow Fives Futbol. He’s opened pitches in prime locations that serve both the school and corporate markets, while still being accessible for social impact interventions in local communities.
Pivoting at the right time is key to growth
In the last 18 months, Fives Futbol has trebled in size, and achieved some amazing milestones — it now employs 50 full-time staff, and 80 part-timers. It’s one of the factors that drives Adam, as many of his employees support up to eight family members. It’s now also represented in four provinces and 15 locations around the country. By September, there will be 18.
Quick growth means you have to be able to pivot quickly when things do not go according to plan, and mostly they don’t, Adam says. “If things are not working you should be able to ‘pivot’, to shift your focus. And do it fast. It’s not a sign that things have gone wrong by any means, on the contrary, it means you have the insight to recognise that there is a problem with the assumptions on which you have built your business model. The decision to pivot is a big one, and not something to be taken lightly. It requires you to take a hard look at your reallocation of resources, and to do it with an open mind.”
In Adam’s case, construction delays, councils taking their time to approve, or having to put money into rolling out sites as opposed to marketing, means the promotion of a new site will slow down, for example, because the business does not yet have a large marketing budget.
“When we run behind on the construction of a new site, R40 000 can suddenly become R100 000 — but here’s the thing: If a deal comes along that will probably harm your business in the short-term but enable significant long-term growth, sometimes you have to juggle what you have so you can make it work.”
The Lesson: Choose your investors carefully
Fine says he’s lucky to have a solid group of investors that he has cultivated over six years. “Their input is invaluable. They’ll say, ‘slow down’ or ‘have you thought of this?’, ‘have you factored in that?’ The ability to develop a good relationship with our investors has had a significant impact on the success of the company. Over and above money, they provide wisdom, guidance and connections.”
His relationship with his investors is key. While many entrepreneurs make it just about the money, Adam understood something else — he has a pretty cool brand with a great cause behind it. So, while investors are asked for money all the time, he was able to offer something more than just a business idea — alignment. He generated enthusiasm for the ‘why,’ behind the business. Like most of us, it makes investors happy to know that they are helping to make a positive difference.
And while it’s easy to bandy about the word ‘partnership’, Adam has worked hard to make that a reality. He set out to find like-minded people who are passionate about the business and the cause, which is why they are able to serve as great resources for advice and insight.
Related: Richard Branson’s ABCs Of Business
“The best way to ensure that you and your investors have a valuable and lengthy partnership is to make sure that everyone is aligned on the vision.”
This includes Adam’s team. The internal culture of an organisation is vital to its strength and growth. “Without our team we don’t have a business for investors to support — our people are critical to our success. They’re the executors of the vision at the end of the day.”
The Lesson: The value of strategic partnerships
Much of the growth of Fives Futbol has been fuelled by finding the right sponsorship partners in key industries. To overcome the challenge of a limited marketing budget, Adam has secured sponsorships with big brands like Adidas, Total Sports, Debonairs, and Klipdrift, allowing Fives Futbol to use their access to communities as a marketing platform to derive income as well as scale. And it works both ways.
“Because we have a national footprint and a team of people, we run activations for our partners, which also provides us with an ancillary revenue stream,” he says. “Knowing how to join forces with other businesses has been a key factor in making the business successful. Our strategic partners have enabled the business to leverage their brand to give us more exposure. When it works well, a strategic partnership can be just what you need to speed up the growth of your business.”
Watch List: 15 SA eCommerce Entrepreneurs Who Have Built Successful Online Businesses
The advent and advancement of the online marketplace has led these entrepreneurs to successfully build and grow their ecommerce empires.
South Africa’s ecommerce market is worth R10 billion per year. By 2021, the number of online shoppers is expected to have reached 24.79 million.
“Our recent research on SA shows people are browsing three hours or more on their mobile phones and 25% shop online. They trust local brands,” says Geraldine Mitchley, Visa senior director for digital solutions in sub-Sahara Africa.
These entrepreneurs have cashed in on ecommerce and launched successful online stores that have either established their dominance in the market, or are taking the e-tailing world by storm.
Here’s how these 15 ecommerce capitalists are making money using the Internet:
Start-up Industry Specific2 months ago
How Do I Start A Transport Or Logistics Business?
Snapshots9 years ago
Habari Media: Adrian Hewlett
Snapshots2 months ago
27 Of The Richest People In South Africa
Types of Businesses to Start2 months ago
11 Uniquely South African Business Ideas
Support for Women Entrepreneurs2 months ago
10 Successful SA Women Entrepreneurs’ Top Advice On Balancing Work And Family
Entrepreneur Profiles2 months ago
10 SA Entrepreneurs Who Built Their Businesses From Nothing
Types of Businesses to Start2 months ago
10 Business Ideas Ready To Launch!
Lessons Learnt2 months ago
6 Of The Most Profitable Small Businesses In South Africa