Janine Connor began her professional lifeas a secondary school English teacher. Today she heads Tax Talk, one of thecountry’s top providers of tax-related information. The leap from teaching tothe world of finance was not such a great one, however, because her focusremains on education and the role it plays in empowering people. Her experiencein adult basic education and training has also stood her in good stead, as hasher eight-year stint in corporate sales, marketing and business development.
Connor launched Tax Talk as a website in2002 after realising that there was a gap in the market for a specialist taxpublication aimed at demystifying a subject that is often people’s worstnightmare.“The world of tax is shrouded in jargon andtechnical language,” says Connor. “My aim in launching Tax Talk was to removepeople’s fears and apprehensions, and to simplify South African tax laws andregulations as much as possible so that any business owner can understand andeven benefit from them.”Two years ago, Tax Talk had around 30subscribers; today it has 600, as well as a circulation of 4 000. The magazinestarted off as a quarterly publication, but demand for information has been sohigh that Connor is publishing it every second month this year. The responsefrom the SME sector has been particularly good.
Connor funded the business herself byrunning educational tax seminars and talks, and eventually brought shareholderson board to help her grow it. Today, the multimedia business is a comprehensivetax forum that provides easily digestible and interesting information andinsights into the world of tax. Other services offered include tax symposiums,sponsoring television talk shows and arranging in-house tax education workshopson specialised tax topics.“We approach well known speakers and taxspecialists and ask them to host events on our behalf,” says Connor. “With thetax amnesty deadline coming up at the end of May 2007, for example, we will behosting an event to educate people about the amnesty and provide them with theinformation they need to take advantage of it.”
The toughest part of start-up, she says,was establishing Tax Talk’s position as a neutral information provider. “We donot take sides. Tax Talk is a platform for the discussion of topics that impactpeople’s understanding of the South Africa Revenue Service. It took some monthsfor people to realise that we were not a mouthpiece for the Government, or fortax consultancies.” Connor says she set her audience right byensuring that the publication answers every tax question that people putforward. “When one person has a question about apiece of legislation, you can be sure that 100 others have the same query. Byproviding direct and practical answers to the questions we receive, we havebeen able to carve a solid reputation for the magazine and the website.”
Tax Talk sources its information fromindustry professionals and experts with whom Connor has establishedpartnerships. The publication prides itself on the reliability of its sources,and has been embraced by the industry.Connor and her team of journalists ensurethat they keep abreast of any developments in the tax world by conductingongoing research, networking with specialists in the field and basicallykeeping an ear to the ground. She stresses, however, that while all theinformation is reliable, the onus is on individuals to ensure they obtainprofessional advice on more complex tax questions that affect them directly.Tax Talk sponsors Tax Issues, presented bytax law expert Daniel Erasmus on Summit TV every Monday night. The businessuses this channel to market its services. In addition, a monthly newslettergoes out to its entire subscriber base. Connor also engineered the introductionof Tax Talk magazine into the online FNB and RMB Private Bank eBucks loyaltyrewards programme. She is planning to take the magazine into retail outlets inthe future, and to establish an online tax chat forum that leverages Tax Talk’spopular website.Asked what single discipline has stood herin good stead in business, Connor replies: “Persistence and self-motivationhave been key, as well as my ability to interact with people. These are skillsI learnt in my teaching days.” Contact: +27 11 476 5095, www.extaxes.co.za
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.
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“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:
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