Connect with us

Snapshots

South African Entrepreneurs Blazing a Trail Overseas

South African entrepreneurs share their journey to international success.

Entrepreneur

Published

on

Ian Fuhr
Prev1 of 10

1. South African Dragon Vinny Lingham’s Silicon Valley Success

Vinny-Lingham-“If you haven’t reached a point of despair while building your company, you’re not pushing hard enough.”

Vital Stats:

  • Vinny Lingham is the founder of IncuBeta, Yola and Gyft.
  • He’s currently the CEO of Gyft, which he sold to First Data Corporation, a global payments technology solutions company, in 2014.
  • He is an angel investor, a global endeavour entrepreneur and a Dragon on South Africa’s Dragon’s Den.
  • He’s currently based in Silicon Valley.

Born and raised in the Eastern Cape, Vinny Lingham is largely self-taught. Forced to leave university before his degree was complete due to financial constraints, Lingham took it upon himself to upskill.

“I focused on educating myself. The plan had changed. I’d always aimed to be the top programmer in my class, and to complete my honours and my masters. That wasn’t to be, but it didn’t mean I couldn’t continue to follow my dreams. I read as much as possible about business and coding. I tried my hand at a lot of businesses, and while most of them failed, I eventually found a model that worked with great product market-fit. It takes sacrifice and focus, but if you’re willing to work, success will follow.”

Top Lesson:

“Understand the nature of failure. To me, failure is an unanticipated result. Everything else is just testing an hypothesis. Minimum viable products are just that – tests. Most won’t work. The important thing is that you learn from them while you continue to refine your idea.”

Read more: Vinny Lingham’s full story here

Prev1 of 10

Entrepreneur Magazine is South Africa's top read business publication with the highest readership per month according to AMPS. The title has won seven major publishing excellence awards since it's launch in 2006. Entrepreneur Magazine is the "how-to" handbook for growing companies. Find us on Google+ here.

Advertisement
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Snapshots

Ian Fuhr Explains Why He Likes To Launch Businesses In Unfamiliar Industries And How He Made Sorbet A Success

Ian Fuhr, a serial entrepreneur is not scared of opening businesses in industries he knows nothing about.

CEOwise

Published

on

By

ceowise-entrepreneur-magazine-thumbnail-designs-ian-fuhr

We interview entrepreneur Ian Fuhr, who founded the Sorbet Group in 2005 which has now grown to over 200 stores in South Africa with stores in the UK. Ian is a serial entrepreneur who has launched many successful companies in industries he knew very little about.

Continue Reading

Snapshots

How Pepe Marais Went From Bankruptcy To Founding Joe Public And Becoming An Entrepreneurial Success

After being bankrupt in 2009 Pepe, along with his partners, turned their business around to being one of the best advertising agencies in South Africa.

CEOwise

Published

on

By

ceowise-entrepreneur-magazine-thumbnail-design-pepe-marais

We interview entrepreneur Pepe Marais, who co-founded Joe Public, one of the biggest independently owned advertising agencies in South Africa. After being bankrupt in 2009 Pepe found his life’s purpose and not only turned his business around, but his entire life. It’s all documented in his booked titled Growing Greatness, which is a must read.

Continue Reading

Snapshots

Eustace Mashimbye Shares His Insights On Exporting Your Goods

Nadine Todd

Published

on

eustace-mashimbye

What sectors are best for South Africans exporting to other markets?

Almost any sector can compete in international markets, certainly on quality and often in technical innovation, but it’s always important for companies to do their homework first on prevailing conditions, competitive products, prices, import duties and so on in the country they have identified for export before they rush in.

How do local manufacturers benefit from exporting their goods?

An international profile is always a good thing for any company and for the country. We love seeing Made in SA products on shelves and in industrial applications overseas. Obviously, the opportunity to earn in hard currency — exchange fluctuations notwithstanding, is another benefit. The more diversified your markets, the better placed any company is if any one market should take a dip, so spreading the markets in which you are operating and selling is another.

Related: How To Leverage Partnerships, Industry Associations & Endorsements

What are the potential dangers business owners should be aware of if they’re interested in exporting their goods?

There is always the danger that without proper ground work, it can be an expensive exercise if the export project fails. Local agents, distributors and third parties can also prove difficult and expensive, so it’s important to source reliable local representation, if you need it. Translation of all packaging to the local language can be expensive and adherence to different local norms and standards must always be adhered to, and could push up the price of your product if you pass these costs on to the customer. Sales and after-sales service is something that also needs to be managed well.

What government-funded programmes are available to assist entrepreneurs access new markets?

There are a number of programmes of the dti, including Trade & Investment South Africa and the Export Marketing & Investment Assistance Scheme (EMIA). South African embassies around the world have trade attachés who are there to help and are a critical point of contact for any exporter.

Continue Reading
Advertisement

SPOTLIGHT

Advertisement

Recent Posts

Follow Us

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

Trending