How to have a successful mindset
If you want to launch a market-leading business, learn to think like some of South Africa’s most successful entrepreneurs.
Nadine Todd
Launching a business is tough. It will cost more, take longer than you plan and be lonelier. Successful start-ups are as much the result of the right attitude as planning, business acumen, market timing and funding.
“For success, attitude is equally as important as ability.” Walter Scott
If you want to be a successful entrepreneur and business leader, you need to start thinking like one. Here are six lessons from top South African entrepreneurs and leaders:
1. Think big, even if you need to start small
When Manny Rivera launched Planet Fitness in 1996, he told everyone he was competing with The Health and Racquet Club. It didn’t matter to him that they had massive funding, corporate support and a big roll-out plan, and he had no money, no credit record and no surety. But he had a vision, and that was all he needed.
He bought a small gym in Benoni and agreed to pay the owner R50 000 a month for ten years. From there, he had a base to launch his brand. By the time he had three gyms, he convinced Discovery to include his brand in their Vitality programme. He didn’t care that he was still small; he wouldn’t stop calling until they took a meeting and gave him a chance. That’s the power of self-belief, dreaming big, and not taking no for an answer.
2. Entrepreneurs are leaders
You might still be a start-up, but you need to convince clients, employees and even funders that your vision is worth following, so adopt a leadership mindset from the moment you launch. Corne Krige has this advice to offer from his time as Springbok captain and Survivor team leader: Great leaders are also decisive.
“The best decision you can make is the right decision, the second-best decision you can make is the wrong decision and the worst decision you can make is no decision,” he says. The most important point is that leadership is more important than being right or wrong. People will accept mistakes as long as they trust that you will lead them.
“If you make decisions with conviction and your heart is in the right place, not only will your staff and customers forgive you if you’ve made the wrong decision, but they’ll be instrumental in executing that decision, and perhaps even turning it around.” Execution is everything, and that begins with your team, so make sure you’re a leader they can follow and trust.
3. Dream big, plan well, minimise risks
Motivational speaker, philanthropist and adventurer, Braam Malherbe believes that people don’t buy what you do, but why you do it. The bigger the dream and the higher your purpose, the more people will want to support you. “The dream is followed by goals that start the step-by-step process to reach that dream,” he explains, so make sure you have that foundation. But you can’t dream big and just expect results. You need to plan well, take all risks and potential disruptions into account, and mitigate them.
4. Be disciplined and focused
“Generally, successful people are doing things that other people don’t want to do,” says Kate Moodley, multiple winner of Discovery’s franchisee of the year and the youngest GM at Momentum before she left to launch her own Discovery franchise. They’re waking up at 5am, going to the gym, putting in the time to read.
“If you know you’re doing the hard things and not the nice things, you’re probably on the right track. Where you put effort in is where you’ll see the rewards.” Of course, this takes discipline, dedication and focus. “If you’re disciplined, you not only follow through on any promises or commitments you’ve made, but you give yourself the time and space for self-development.” Moodley herself is non-negotiable about her own development and ensures she puts time aside for learning and self-improvement.
5. Respect your time
In the early days, you will be doing anything and everything to build your business and drum up clients. That’s fine. But understand that your time is also valuable and finite. Until you understand this, you won’t give yourself or your business the respect it deserves. “Initially business was a scramble for me,” says SiModisa founder, Matsi Modise. “My business facilitates connections between entrepreneurs and private and public opportunities, and to be an effective facilitator you need to know who all the players are, and that takes networking. I had to learn the value of my time, and to be strategic in how I spend it.”
Modise learnt that this isn’t something that happens overnight, but it’s been a discipline worth developing. “Time is a non-negotiable resource for truly successful entrepreneurs,” adds Moodley. “If you read up on how Bill Gates, Steve Jobs and their peers view their time, you’ll see that they never, ever waste it on tasks that are not worth their time.”
6. Put one foot in front of the other
TBO Touch might be one of the most popular personalities on radio today as well as an entrepreneur and brand ambassador, but he grew up in Sharpeville. He reached where he is today by focusing on the steps leading to where he wanted to go, instead of allowing the goal to scare him. “Never measure the mountain until you get to the top,” he says.
“Everything looks big and daunting until you realise how easy it is when you get to the top. Nothing is impossible with the right attitude and will to try.” How do you get there? By embracing all your experiences – even the tough ones. Everything is a learning experience and will eventually add value to your journey.
DO THIS
Focus on who you want to be: Great leader, entrepreneur, community activist? The power of positive thinking and cultivating a success mindset will take you further than you ever believed possible.