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Vox Telecom’s 100% Growth Model

Vox Telecom’s CEO Jacques du Toit has his sights set on expansion driven by sales and acquisitions.

Monique Verduyn

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Jacques-du-Toit

Vital Stats

  • Player: Jacques du Toit
  • Company: Vox Telecom
  • Position: CEO
  • Contact: +27 (0)87 805 0000
  • Visit: www.voxtelecom.co.za

To double the size of the business in five years — that’s the high-level strategy that Jacques du Toit is driving at ICT company Vox Telecom.

The company delisted from the JSE’s AltX in 2011, following a R500 million buyout by shareholders. After talk of selling the business was halted mid-2014, the shareholders gave the go-ahead for the growth strategy, based on the company’s performance over the previous five years.

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“Achieving 20% growth per year should be an expectation for almost any enterprise,” says du Toit.

“But when the business is facing massive deflation it’s a different story. We are looking at 13% deflation on our core voice and data products every year going forward.

“We will only see growth by outselling that deflation, and outselling the inflation of our operational expenses. I am confident we will achieve that because we are successfully diversifying into new ICT product streams that Vox Telecom has never played in. We are selling more than ever to an expanding market.”

Product diversification

Aggressive acquisition has given the company more than 150 products aimed at consumers, SMEs and large enterprises, as well as the people to get them into the market.

Without that expanded product base it would have been senseless to commit to the growth du Toit says, but the company’s growth trajectory has placed it in a position to service a broad market.

Plus, its ambitious strategy has the support of the board and investors.

Trust at the core of strategy

To ensure that the whole organisation ‘lives’ the company’s vision and strategy, du Toit says trust is critical.

“Trust is the foundation of the survival and success of any company. Without trust there can be no sustainable business.”

He and the management team have built a network of positive relationships with employees over time, giving them faith that the organisation is moving in the right direction.

“The leadership team has been with Vox Telecom for more than 15 years, and our people believe that we have set the company on the right strategic course,” he says. “They also know that if we need to tweak it or change direction, it will be for the right reasons.”

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Core values are fundamental

Du Toit stresses that strategy can only be implemented and executed when the entire organisation shares the same core values.

“Core values are the guiding principles that dictate behaviour and action. When you have an organisation of more than 900 people, embracing and understanding the core values is essential to the success of
the strategy.”

When people have different views of what is important to the business, he adds, disaster ensues.

“You can have the smartest mission and vision statements, and you can excite people about your objectives, but if you do not all subscribe to a common set of core values informing how you deliver your services to customers, you will fail.”

Open channels of communication

Du Toit says that because the business environment is changeable, it’s vital to ensure that everyone knows what the end goals are.

“We know where we are heading, but we may have to make a detour every so often. To ensure that our people always know what is going on, we have taken practical steps that make it easier to execute the strategy.”

These include breaking the business up into smaller divisions, each headed by a member of the executive team. He maintains that it is much easier to ensure execution of strategy because each unit is agile and the team knows exactly what they are responsible for.

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“Big teams are slow, lose focus and find it difficult to prioritise because there is too much white noise in the background,” he says.

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+.

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27 Of The Richest People In South Africa

Here are 27 of South Africa’s richest people, but how did they achieve this level of wealth? Find out here.

Nicole Crampton

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Learn the secrets of SA’s most successful business people, here is the list of the 27 richest people in South Africa:

In a world with growing entrepreneurship success stories, victory is often measured in terms of money. The feat of achieving a place on this list is, however, years of hard work, determination and persistence. “One has to set high standards… I can never be happy with mediocre performance,” advises Patrice Motsepe.

From the individuals that made the 27 of the richest people in South Africa list, actual entrepreneurs and self-made business people dominate the list; while those who inherited their fortunes have gone on to do even bigger and better things with their wealth. Over the years, some have slipped off the list, while others continue to climb higher and higher each year.

  1. Elisabeth Bradley
  2. Sharon Wapnick
  3. Bridgette Radebe
  4. Irene Charnley
  5. Wendy Ackerman
  6. Paul Harris
  7. Wendy Appelbaum
  8. Mark Shuttleworth
  9. Desmond Sacco
  10. Giovanni Ravazzotti
  11. Markus Jooste
  12. Gus Attridge
  13. Gerrit Thomas Ferreira
  14. Cyril Ramaphosa
  15. Adrian Gore
  16. Raymond Ackerman
  17. Michiel Le Roux
  18. Lauritz Dippenaar
  19. Jannie Mouton
  20. Stephen Saad
  21. Patrice Motsepe
  22. Allan Gray
  23. Koos Bekker
  24. Ivan Glasenberg
  25. Christoffel Wiese
  26. Johann Rupert
  27. Nicky Oppenheimer
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Watch List: 50 Top SA Black Entrepreneurs To Watch

South Africa needs more entrepreneurs to build businesses that can make a positive impact on the economy. These up-and-coming black entrepreneurs are showing how it can be done.

Nicole Crampton

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top-black-entrepreneurs-to-watch

Early-stage South African entrepreneurial activity is at an all-time high of 11%, according to Global Entrepreneurship Monitor, and entrepreneurial intentions have also increased to 11.7%. With both activity and intentions growing significantly year-on-year, there are more businesses opening up around South Africa than ever before.

The increase in entrepreneurship has seen the rise of more black entrepreneurs across numerous sectors. From beauty brands to legal services and even tech start-ups, these are 50 top black entrepreneurs to watch:

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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.

Nicole Crampton

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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:

  1. Livestock Wealth
  2. The Lazy Makoti
  3. Aerobuddies
  4. Mimi Women
  5. i-Pay
  6. AfriTorch Digital
  7. Akili Labs
  8. Native Décor
  9. Aerobotics
  10. Quality Solutions
  11. EM Guidance
  12. Kahvé Road
  13. HSE Matters
  14. VA Virtual Assistant
  15. Famram Solutions and Famram Foundation
  16. BioTech Africa
  17. Brand LAIKI
  18. Plus Fab
  19. LifeQ
  20. Organico
  21. 10dot
  22. Lenoma Legal
  23. Nkukhu-Box
  24. Benji + Moon
  25. Beonics
  26. Brett Naicker Wines
  27. Khalala
  28. Legal Legends
  29. The Power Woman Project
  30. Aviro Health
  31. AnaStellar Brands
  32. Data Innovator
  33. Fo-Sho
  34. Oolala Collection Club
  35. Recomed
  36. VoiceMap
  37. ClockWork
  38. Empty Trips
  39. Vula Mobile
  40. SwiitchBeauty
  41. Pineapple
  42. The Katy Valentine Collection
  43. OfferZen
  44. KHULA
  45. Incitech
  46. Pimp my Book
  47. ART Technologies and ART Call Management
  48. Prosperiprop
  49. WAXIT
  50. The Sun Exchange
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