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Running a school like it’s a business

Elandspark school pic

This article was published in the 09-October-2014 issue of Finweek Magazine

As tech entrepreneurs, my husband and I are passionate about raising our two kids to be entrepreneurs. So we grab every opportunity we find to teach them about business. Sadly, however, the creators of South Africa’s school curricula don’t share our passion for entrepreneurship. Other than theoretical business subjects like Business Studies, Accounting, Consumer Studies, Economics, and Economic Management Studies, there is hardly any entrepreneurial training happening in most of South Africa’s schools. Elandspark School is a refreshing exception and a shining example of how to run a school like a business. Continue reading

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Great to gone to great again: bouncing back

lego-story-animatedThis article was published in the 2-October-2014 issue of Finweek Magazine

Markets change. To stay on top, you need to change with them. Economist Joseph Schumpeter spoke about the “perennial gale of creative destruction”, where technological transformation and visionary entrepreneurs give birth to new things that annihilate old things, only to see the next generation obliterate those new things. Some of the most well-known companies in history no longer appear on the Fortune 500 list, having tumbled from great to good to gone from the list—companies like Kodak, Chrysler and Warner Lambert. And, out of the 500 organisations that made it onto the first list in 1955, only 71 were still on the Fortune 500 list in 2008. However, the forces of creative destruction are not unavoidable: not every company must inevitably fall and die. After all, multinationals like Johnson & Johnson, GE and Procter & Gamble have been around for over a hundred years and their positions in the Fortune 500 have climbed. And companies like Lego and Xerox plummeted from their pinnacles, but then turned themselves around from the brink of destruction to become great once again. How did they do it? It comes down to innovation, getting back to basics, and continuously adapting to changing customer needs and changing markets. Continue reading


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Failing forward: How failing can help you succeed

persist-win

This article was published in the 18-September-2014 issue of Finweek Magazine

Back in 2008, GIBS asked a handful of MBA alumni who were internet entrepreneurs to share our biggest learnings. In all honesty, I don’t remember much about that night or what I talked about to that classroom of aspiring entrepreneurs. But the one thing I do remember as clearly as today, is the three words spoken by my classmate Justin Spratt, at the time running IS Labs. He said: “Launch, then iterate.” His sage advice came long before the global entrepreneurial Lean Start-up movement made this idea trendy. And I still swear by it to this day.

Justin explained “Launch, then iterate” along these lines: get your minimum working product out there fast, get customers using it as quickly as possible, and tweak and improve as you get their feedback. Don’t delay your launch for the day when your offering is perfect, because it will never be perfect, which means you will never launch. And that artificial goal you’re defining as perfection, may be something your customers won’t even want, let alone pay for. So don’t waste time or money building something that you haven’t yet tried out in a scaled-down form with your customers. Continue reading