If I had to summarise my own learnings since starting CEOwise, it would be these ten points:
- I need to know the critical numbers in my business.
- The magic number is two co-founders. Teams build entities, individuals might start them, but teams build them.
- Don’t be scared of failure, that’s how we learn.
- It’s better to earn 10% of a bigger pie than 100% of a smaller one.
- Businesses in the service industry should create products out of their services, or sell value and not hours.
- Stick to your core competencies and outsource the rest.
- Make small incremental changes everyday.
- Your team is your biggest asset.
- It’s cheaper to retain clients than attain new ones.
- If you’re worrying about paying too much tax, you’re not earning enough.
After each interview, there is generally one main word of advice that sticks in my mind, and which I ponder on for days afterwards. The following advice from local entrepreneurs may stay with you too:
- Benji Coetzee, Empty Trips
- Allon Raiz, Raizcorp
- Joel Stransky, Pivotal Group
- Gideon Galloway, King Price Insurance
- Adriaan Rootman, Luxury Time
- Brian Mills, New Concept Projects
- Byron Clatterbuck, SEACOM
- John Sanei, Global speaker and trend specialist
- Ryan Kahan, CallCabinet
- Regine Le Roux, Reputation Matters
- Miles Kubheka, Vuyo’s brand
- Eben Uys, Mad Giant
- Mark van Diggelen, GameZBoost
- Erik Kruger, Mental Performance Lab
- Musa Kalenga, Public speaker
- Marnus Broodryk, SME Africa
- Rich Mulholland, Missing Link
- Mike Sharman, Retroviral
- Cairo Howarth, EFC Worldwide
- Dinesh Patel, OrderIn
- Andrew McLean, Cycle Lab
- Albé Geldenhuys, USN
- Ran Neu-Ner, The Creative Council
- Nic Haralambous, NicHarry
- Mark Sham, Suits & Sneakers
- William Wertheim Aymes, Artemis Brands
- Matt Brown, Matt Brown Media
- Pat Pillai, Lifeco Unltd
- Vuyo Tofile, EntBanc
- Ian Fuhr, Sorbet
- Colin Timmis, Xero
- Felix Martin-Aguilar, ReWare
- Fritz Pienaar, Advendurance