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Category Archives: Entrepreneurship


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Want to be part of a dynamic co-working space in Sandton, Johannesburg?

If you’re a consultant, entrepreneur, working in a start-up, a student, a freelancer, or a creative, you’ll know what it’s like to feel isolated, unproductive or demotivated in a home-office environment.

A co-working space solves all of these issues. It’s a shared office space where people can work independently but not alone, share ideas, collaborate and work productively while growing our businesses and business networks.

Despite the recent explosion of co-working spaces in South Africa, there just aren’t any in the Sandton, Johannesburg area currently. I’ve approached a number of co-working space operators around South Africa and a few are keen to start one in Sandton, provided there is enough demand here.

If you’re keen to join a co-working space in Sandton (or know someone who is), please let me know by email (colette@mbaconnect.net) by Wed 14-Aug-2013. This will give us a better idea of the demand and how many people a Sandton co-working space would need to accommodate.

What are the benefits of a co-working space?

1. Dynamic, vibey, motivating environment where you can work independently but not alone
2. Network and collaborate with smart, like-minded people
3. Bounce ideas off other people
4. No need to work alone from home anymore
5. Close to home, but not at home
6. Flexible short-term leases (e.g. month-to-month)
7. Low rental costs per month, no long-term commitments that your business cannot afford
8. Rent more or less space as your company grows or downsizes
9. Ideal for consultants, entrepreneurs, MBA students looking for a private space to study, startups, freelancers, creatives, etc.
10. Has all the facilities you need like meeting rooms, wireless hi-speed internet, security, printing, copying, etc.

Thanks for your help. Looking forward to your feedback.
All the best

Colette Symanowitz
colette@mbaconnect.net


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The impact of happiness on the bottom line

This article also appeared in Finweek Magazine in their 13-June 2013 issuezapposhappiness

Unconventional shoe retailer Zappos is getting a lot of attention for its business model and culture centred on the happiness of its workers. And they are reaping the rewards. In yearly workplace surveys from Fortune Magazine and the like. Zappos has been consistently rated as one of the top companies to work for. They have also excelled in the traditional business metrics. It took Zappos under 10 years to reach $1bn in annual revenue. They were acquired by Amazon in 2009 for a sizeable $1.2bn. There is a powerful lesson here. Like Zappos, by putting the happiness and well-being of your staff on centre stage, companies can build a happy culture that is healthy for profits and growth. Continue reading →


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If you work from home, get a dog

This article also appeared in Finweek Magazine in their 6-June-2013 issue

If US stats are anything to go by, two out of three companies begin in a spare bedroom, garage, or possibly even a bathroom. In fact, that’s how companies as varied as Apple, Baskin-Robbins ice cream, Microsoft, Hallmark cards, the Lillian Vernon online gift catalogue and Purex laundry products got going. Thanks to the Internet, running a company from home is now more do-able and popular than ever before.

However, operating a home-based business also comes with its own unique challenges. How many times have I had a client on the phone when my kids started fighting, the neighbourhood tomcat began his piercing mating calls or there was the loud, unmistakeable jingle of the ice cream truck driving up and down our streets? What about the battle to keep work separate from family and personal life? And the loneliness of working from home can drive you crazy.

One solution to some of these issues: get a dog. Continue reading →


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Persistence pays off for entrepreneurs

persistent mountain climber at summitThis article also appeared in Finweek Magazine in their 30-May-2013 issue

The 12th series of US singing competition American Idol reached its finale last week. 23-year-old vocal powerhouse Candice Glover took the title. With her talent you’d think she would have been a clear favourite. But this wasn’t always the case. In fact, this was Candice’s third attempt on the show. She had auditioned for the ninth and 11th seasons but didn`t reach the finals until the 12th season. In a previous season, former Idols judge Simon Cowell condescendingly told Candice she would never amount to more than a lounge singer. But he didn’t bank on her strong sense of determination. “I always knew for some reason that it would happen if I kept going,” said Glover backstage after her 2013 win. There is a powerful lesson that many entrepreneurs can learn from Candice Glover: Persistence pays off. Continue reading →


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How to take on big companies and win

big dog vs little dogThis article also appeared in Finweek Magazine in their 25-April-2013 issue

Overnight singing phenomenon Paul Potts stole the hearts of millions of people around the globe. The soft-spoken mobile phone salesman came from humble origins in Bristol, England, the son of a working-class bus-driver father and supermarket-cashier mother.  From the age of six Potts had been bullied in school for being poor, which had eroded his self-confidence.  A serious bicycle accident in 2003 and subsequent financial troubles motivated him to enter the debut series of Britain’s Got Talent. Despite not having sung in four years, when he started singing on that stage in 2007, he blew the judges and audience away with his surprisingly incredible voice. With his breath-taking performance of “Nessun dorma”, Potts went on to win Britain’s Got Talent and receive worldwide acclaim, with his debut album One Chance topping sales charts in nine countries.

There is something captivating about underdogs like Paul Potts. When we see the longshot win against the odds, it makes us believe that nothing is impossible and we really can achieve our biggest dreams. This is true both in our personal lives and the business world. There are many examples of small companies taking on the industry giants and winning: Apple vs. Microsoft and IBM, Virgin’s Richard Branson, Whole Foods’ John Mackey, Southwest Airlines’ Herb Kelleher and Fedex’s Fred Smith. Locally we’re seeing it in the cell phone industry with Cell C versus MTN and Vodacom.

Yes, it is possible for minor players to take on big companies and come out on top. How they do it? Here are some of the strategies that work: Continue reading →


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Venture capitalists: do entrepreneurs still need them?

money tree smallThis article also appeared in Finweek Magazine in their 11-April-2013 issue

Before World War 2, development capital was limited largely to wealthy individuals and families. It was only in 1946 that venture capital (VC) began to emerge. That year the first two VC companies, American Research and Development Corporation (ARDC) and JH Whitney & Company, were created in the US. Since then, entrepreneurs have pretty much depended on VCs to build high-growth businesses. But that could be changing. With the advent of crowd-funding and the dramatic drop in costs to launch an Internet start-up, do tech entrepreneurs still need VCs? Continue reading →


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Entrepreneurs: stop cloaking your ideas in secrecy

share ideas entrepreneursThis article also appeared in Finweek Magazine in their 4-April-2013 issue

Joe and I met at a networking event recently. Joe is new to the entrepreneurial game and wants to start a business in the restaurant industry. When I asked Joe to tell me more about his concept, he immediately clammed up. “I’d prefer not to discuss it until it is launched”, he said hesitantly. “However if you could sign a confidentiality agreement, I do have one with me …”

I meet entrepreneurs like Joe all the time. Like most entrepreneurial newbies, he is very protective of his idea. His greatest fear is that copycats will steal it. So he guards his baby zealously, and doesn’t even tell his friends about it. By contrast, mature entrepreneurs who have been in the game for a while are only too happy to tell others about their ideas. Here’s why: Continue reading →


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Your business: Is organic the way to grow?

tulips-growing

This article also appeared in Finweek Magazine in their 07-March 2013 issue

In last week’s article we explored how growing too quickly could sometimes, but not always, be bad for your business. By contrast, even though it often gets a bad rap, slower, organic growth, could actually be a better strategy for your business in the long-run. Continue reading →


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Is rapid growth bad for your business?

rapid growth graph tech bizThis article also appeared in Finweek Magazine in their 28-Feb-2013 issue

In 1999, the Webvan Group promised to transform the grocery shopping industry. Thanks to an über-successful IPO and other sources such as venture capitalists, it raised a staggering $1.2bn in start-up capital, rivalling big players like Amazon.com. Fast forward to 2001, when Webvan went bankrupt, barely 18 months later. The cause? It ran out of money.

How is this possible?

When investors inject capital into a business, they want a return on their money. And the expectation is that rapid growth will usually fuel this return. Americans even have an expression for fast-growing firms: “gazelles” are publicly traded companies that have grown at least 20% for each of the previous four years, kicking off with US$ 1m or more in sales.

But sometimes, growing too quickly can actually be bad for business. Continue reading →


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From corporate to start-up: can you cut it?

entrepreneur young at PCThis article also appeared in Finweek Magazine in their 7-Feb-2013 issue

Four years out of our MBA degrees, my MBA classmate Joanne* was working in a senior position at a leading global FMCG company. She was extremely well-paid, got to travel extensively and had all the usual corporate perks. Everyone thought she had the perfect set-up. But inside, Joanne was desperately unhappy. Her dream was to start her own business, and she would spend all her spare time researching an idea she was passionate about. However, she had two children whose private education didn’t come cheap, a sizeable homeloan to pay off, and her husband’s investment business had taken a knock in the global financial crisis. So the family depended on Joanne’s salary. As much as she wanted to quit her job in corporate, she didn’t think she could. Sensing her unhappiness, Joanne and I met for lunch to explore if there was a way she could successfully make the leap from corporate to a start-up. Some valuable lessons came out of our discussion that hopefully can help others in the same predicament.

I made the transition in 2007 and it was the best career decision I have ever taken. The entrepreneurial environment, however, isn’t for everyone. And corporate will be extremely tempting when you hit the inevitable rocky period in your venture. Before making the leap from corporate to start-up, you need to understand what you’re getting into and if you’re cut out for it.

So the first question to address is: What traits do you need to have in order to succeed in a start-up? Continue reading →