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Women Entrepreneur Successes

You Can’t Hold Kerryne Krause-Neufeldt Down

Despite tough knocks, losing her first business to corporate espionage and starting again with zero capital, Kerryne has built a new business, attracted investors, and gone international.

Nadine Todd

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Kerryne Krause-Neufeldt launched her first business when she was 23. She was young, full of energy and passion and had a knack for making things happen.

Those same traits had their downside as well though: She did things too fast, had no staff discipline and didn’t look at the fine print.

The result? Industrial sabotage. Krause-Neufeldt lost everything, and had to start painstakingly from the beginning, with no money in the bank, and having lost the agency for Karen Hertzog Oxigenated Creams, a local market she had personally grown.

“I was determined not to be a failure,” she says. “Losing a business is painful, but it was also a huge lesson, and every choice I’ve made since then has been informed by those early experiences.”

Learning the hard way

Krause-Neufeldt has five core lessons that she has implemented and acted on in her new business, I-Slices Manufacturing.

  1. The devil’s in the detail. “Dot every i and cross every t. My reps were able to conspire with my investors to take the agency because I hadn’t carefully evaluated the original contract. It wasn’t a good contract and I had no idea. I was desperate for cash and never questioned it until it was too late.”
  2. ‘I’m not a finance person’ is no excuse. This was Krause-Neufeldt’s biggest lesson. “It’s easy to abscond the numbers to the ‘finance guys’, especially if you don’t have a background in finance. I didn’t even know we weren’t paying PAYE, and ignorance is no excuse. You need a basic understanding of numbers at the very least.”
  3. Do an accounting course. “I did accounting for dummies, followed by financial management workshops. It was time consuming, but worth it. It was the only way for me to truly be in control of my own business. Now I can spot problems in the figures at a glance.”
  4. Manage, measure and hold your finance department accountable. “Today we outsource this function, but I still check and double check everything. I expect the company I outsource to to be able to answer any questions I have immediately.”
  5. Don’t let staff issues slide. “We catered to the salon market and by the time they started complaining about poor service it was too late to start adequately disciplining or monitoring my employees. The measures I put in place just caused anarchy and rebellion. These measures should have been in place from the beginning.”

Related: How RubyBox Got Started

Getting started… again

Launching a business requires two core things: A market, and a product that the market wants and is willing to pay for. Krause-Neufeldt had previously come across an Italian eyemask.

“It was gimmicky, but interesting. It soothed the eyes, which always struck me as something everyone needs — lack of sleep and emotional days can lead to tired, puffy eyes, and there’s the added relaxation factor of closing and soothing your eyes for five minutes.”

Now looking for a new product to bring to market, Krause-Neufeldt once again thought about the eyemask. “I wanted to stay within the salon market. I understood it, and I knew what consumers responded to.”

The problem was that the product she had wasn’t in line with the quality she wanted. “I needed to develop my own product,” she recalls. Which is exactly what she did. It took seven years to find a polymer, develop it and take it to market, but the wait was well worth it, and her product, eyeslices, was born.

“When I look back, the lesson that stands out clearest in my mind was the fact that I never stopped pushing. An old contact of mine introduced me to the CSIR, which is where I found the polymer that would become the base of eyeslices,” she explains.

“It was a single page recipe that needed a huge amount of development though, so I set about teaching myself how polymers work. I bought a slow cooker and did experiments in my kitchen. I worked odd jobs to keep the bills paid, and poured everything I had into developing the recipe.

“Research at the CSIR had never been taken far enough, and so no-one could answer any questions I had. By converting a room in my house into a lab and creating a controlled environment, I was able to start the R&D process.

“Then, in desperate need of some assistance and R&D funds, I approached Sasol Polymers. I’d spent everything I had on a licence and performing my own tests, but now I needed to get what I had market-ready.”

The contact Krause-Neufeldt made at Sasol had previously worked at the CSIR and was familiar with the recipe. “It was the most unbelievable stroke of luck,” she says.

The sacrifice to get the business off the ground continued though. “It was now 2003 and I had gotten married, which meant my decisions affected my husband as well. We needed to make the choice together. Did I stop developing eyeslices and get a regular job, or would we pour everything into these final stages, even though it meant cashing in policies and taking big risks. His decision to back me has never wavered.”

I-Slice Manufacturing officially launched in 2007, and over the years patents have been filed, and improvements and advancements made to the product and packaging. “We’re currently in 22 countries, we have IDC funding behind us, and we’re just set to grow,” smiles Krause-Neufeldt.

Related: Taking on the Wellness Sector

Vital Stats

  • Player: Kerryne Krause-Neufeldt
  • Company: I-Slices Manufacturing
  • Est: 2007
  • Contact: www.eyeslices.co.za • +27 (0)10 224 0134

 

Nadine Todd is the Managing Editor of Entrepreneur Magazine, the How-To guide for growing businesses. Find her on Google+.

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Company Posts

Designing Her Destiny

Oh Yay! owner, Emmerentia van den Hoven does business her way.

QuickBooks SA

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In 2011, Emmerentia van den Hoven took a leap of faith when she decided to leave her graphic design job at an agency and pursue her real passion – and it has paid off tenfold. Here’s her story.

“When I started planning my own wedding eight years ago, I fell in love with wedding design and wanted to do that for the rest of my life. Designing for brands had become a set of rules rather than being creative, and I’d always wanted to work for myself. So, in September 2011, I turned my seven-month-old side gig into a fully-fledged business and launched Oh Yay!

I have to hustle every month to get new clients because every client will use my services maximum twice – first for the wedding invitations and then for the stationery on the day – so I don’t normally have returning clients.

Because my main business is seasonal and usually once-off per customer, I have branched out into branding for small businesses in the beauty and lifestyle industry. I also earn a passive income through the Oh Yay! online shop where I sell wedding décor items.  Oh Yay Kids – my other online store – is my passion project. I launched it just before my second child was born, adding items to the store that I made for my two boys when I saw a need for it. I then expanded into prints for nurseries and kids’ party stationery.

I work for myself and have no employees, so the fact that QuickBooks lets me load all my services, products and prices in one place makes running my business so much easier. Being an entrepreneur is difficult because you don’t know if you’ll be successful or not. But if you believe in and love what you’re doing, it reflects in your work and the service you give.”

Less admin, more of what you love

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When Oh Yay! was launched, along with her dream of being an entrepreneur, came the nightmare of other administrative tasks. But that changed in 2018 when Emmerentia started using QuickBooks.

“When I was using spreadsheets to balance my books, I was spending 80% of my time on admin, which left very little time to tend to customers’ orders. I now spend no more than 25% of my time on admin, which is important, especially when it comes to the speed at which I send quotes. You don’t get any work if you don’t send out quotes and it’s tough to juggle the admin with your actual job of running the business.

Numbers were never really my strong point, so having a professional quote done in record time not only projects professionalism, but the format also changes the way new clients see me. In my industry, the quicker you can send a quote out, the likelier you’ll get the clients’ business. It gives legitimacy to my business. The QuickBooks system operates so seamlessly that clients communicate with me differently, like I have my own accounting department, when in fact, I’m a one-woman-show.

I used to dread doing admin, but now it’s so easy and quick. I’m not just saying this – QuickBooks changed my life.”

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Women Entrepreneur Successes

Watch List: 50 Black African Women Entrepreneurs To Watch

These female entrepreneurs are breaking barriers, transforming industries and inspiring change on the continent.

Diana Albertyn

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Women Entrepreneur Successes

Owner Of Nouwens Carpets Shares Success Lessons From Running A 50 Year Old Family Business

Embrace technology every chance you get.

Nadine Todd

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A company that’s been active for more than five decades in an industry that’s hundreds of years old doesn’t sound like a recipe for innovation — and yet that’s exactly what Luci Nouwens, owner of Nouwens Carpets, is focused on.

The modern carpet has a history that goes back thousands of years. And despite the hipster trend of reclaimed and hard wood flooring, the carpet still remains a popular choice for consumers.

In South Africa, a name that’s synonymous with quality carpeting is Nouwens. When Cornelis Nouwens arrived in the country in the 1950s, bringing the skills of a trade which he had mastered alongside his father in Tilburg, the hub of the Netherlands’ wool textile industry, he passed on the skills and the love of the craft to his family and to workers in the Harrismith region in KwaZulu Natal.

More than 50 years after her father started it in 1962, the company remains family owned, and is headed by Luci Nouwens, who has been with the business for 48 years.

“We have maintained our reputation for premium quality all this time by paying meticulous attention to crafting standards and selecting only the finest raw materials,” says Luci. “Equally important is that we have innovated at every opportunity, embracing technology without ever compromising the traditional craftsman’s spirit.”

Innovation drives growth

Businesses that innovate are able to grow and hire more employees. As a result, they grab a bigger share of the market. That’s true regardless of the size of your business: If you innovate, you can scale up.

In 1968 Nouwens launched a pure karakul wool carpet that was extremely hard wearing and took the company into the commercial carpet market. Luci recalls the manufacturing of the carpet as “a major feat of unique textile engineering.” Another innovation in 2005 was the introduction of a totally new style of flat weave wool carpet, a very clean, minimalist and natural look requiring much less wool without compromising on wearability.

“These innovations are just two of many that have allowed the business to boost its market share over the years,” says Luci. “But beyond that, innovation has enabled Nouwens Carpets to form the backbone of economic activity and upliftment in the local community around Harrismith. This has allowed us to make substantial investment in providing education and skills development for the local population, to ensure that the craft is preserved for generations to come.”

Related: 10 Successful SA Women Entrepreneurs’ Top Advice On Balancing Work And Family

Innovation enables sustainability

Innovation in technologies and how they are applied is key to enabling a manufacturer like Nouwens to create new business value, while also protecting the planet.

“We have used technology to enable sustainable manufacturing, for the benefit of the business, the community, and our customers.”

Nouwens selects equipment, materials and manufacturing methods based on their degree of sustainability and protection of the environment. The company is also a member of the Green Building Council of South Africa and submits its products for VOC testing to ensure that harmful emissions are significantly reduced.

“Ultimately, we are driven by a passion for textiles and the ability to constantly find better ways to produce beautiful products. After the downturn in the economy, we started to produce more cost-effective commercial nylon yarns, and in 2017, we became the new kid on the block for synthetic grass. The bottom line is that a true entrepreneur does what has to be done when the time comes.” — Monique Verduyn

The role of disruption in creating value

A disruptive business is a business that challenges and potentially changes the status quo. From a mindset point of view, a culture that questions ‘why’ can help foster organisational and market disruption. But disruption for the sake of disruption is self-defeating, it needs to be on the back of making things better and based on commercial principles, i.e. people or market players actually wanting to be disrupted.

The starting point is this: Does someone, or a market, value what you’re producing? If the answer is yes, you have a commercially viable disruption. Disruption that is valued by its target market has the best chance of resulting in success.

Get that right and you’ll have a customer base, you’ll gain traction and you’ll attract investors, provided you’re also making a meaningful and sustainable difference to your target market or community. — Ian Lessem, CEO, HAVAIC Investment and Advisory Firm

Collaboration

Team up with customers and competitors.

There’s more power in collaboration than competition. We’re stronger together than when we’re apart. When it comes to working with competitors, consider this: They may have something that you don’t, or vice versa, and 50% of something is always more than 100% of nothing. You’re then positioned to add value before you add an invoice, so your clients benefit from your relationships, and the market wins. From there, you become your client’s go-to-person, because you’re putting them first.

Customers are also a great source of knowledge: They might just have the answers you’re looking for, but are you asking them the right questions? They often know more about an entrepreneur’s business than they know themselves, because they’re on the receiving end of your offering. One way to collaborate with customers is to ask them more questions about yourselves, themselves and their clients. Harness their perspective and develop yourself to give them what they want, not what you think they want. — Wes Boshoff, founder, Imagine Thinking

Related: Watch List: 50 Top SA Business Women To Watch

PR

Know what your audiences are interested in

As a brand, there are many ways to ensure your audience is paying attention to you, but you can’t expect them to find you unless you’re sharing content that captures their interest. If you send out press releases, don’t be too rigid or plain. Audiences want to be engaged, and not to have to deal with long, cumbersome information. An infographic, along with a video or pictures will make your release easier to ingest and more memorable. People don’t want boring figures, they want relatable stories.

One way to be relatable is by tapping into influencer marketing. This doesn’t mean you need celebrities with the highest followings to endorse you. Micro-influencers are proving to have just as much clout as those with larger followings. Evidence shows that micro-influencers have a more established and deeper connection with their audience, which translates to loyalty and a readiness to follow their advice. The trick is to find the micro-influencers who are speaking to the audience you want to reach.

Big data plays a key role in painting a picture of who is ‘out there’. With the right information, you can tailor your content to a specific audience. Big data can show you what topics and problems are trending in your industry, so that you can get the jump on them. Use big data to deliver your own insights on current topics, shaping and leading the conversation, converting your audience’s attention into action. — Madelain Roscher, founder and managing director, PR Worx and Status Reputation Management

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