Advice from the top: leaders of SA's top 3 companies on overcoming business obstacles

For many entrepreneurs, starting your own business, especially in a tough economic environment, can be a big challenge.

We asked some of the business leaders who attended the 2016 Sunday Times Top 100 Companies Awards on November 8 2016 for their advice on how to overcome three common business obstacles.

Obstacle: the challenging economic environment

Keeping calm and carrying on despite the current economic environment is the only way to stay ahead, according to Ben Malherbe, CEO of Calgro Holdings M3, which was named the Sunday Times Top Company for 2016. 

story_article_left1

"There’s no question that 2016 has been a tough year," he said. "There’s a lot of uncertainty, and uncertainty leads to people not wanting to invest capital. That’s the scary part, but if you keep catering to the right market and do the right thing, you’ll find that the support is still there.

"We’re sitting with real hurdles but the opportunities outweigh them. As long as that’s the case, we’re on the right track.

"The private sector has a big responsibility to keep on contributing. Every time there’s a lack of delivery in the public sector, there’s a huge opportunity for the private sector."

Obstacle: losing faith in the start-up phase

Dr Chris van der Merwe of Curro Holdings, which ranked third in the Sunday Times's list of Top 100 Companies for 2016, shared some advice for entrepreneurs experiencing the teething problems that come with starting up a new business.

story_article_right2

"The start-up phase is more challenging than the phase where you’re already listed because you’re small and you’ve got to fund yourself. You’ve also got to market a product that doesn’t yet exist," he said.

"During the developmental phase of Curro, there were at least five incidents where we found ourselves getting up in the morning and thinking, ‘We don’t know how we’re going to make it to the end of the week.’

"And so, for all those struggling entrepreneurs, I’d say give it one more go. You’re just human and when starting a new business you will reach a point where you want to give up hope. Don’t give up."

Obstacle: demotivated employees

Success stems from employing "smart, passionate, well-motivated people who have the best interests of the business at heart at all times", believes Mark Stephens of Fortress Income Fund Limited, which came second in the Sunday Times's list of Top 100 Companies for 2016.

In conversation with Jeremy Maggs — watch the video below — Stephens explains that a big way to motivate your team is "by making sure that they're all shareholders in your business and that they're treated fairly and with respect".

Full results of the Sunday Times Top 100 Companies will appear in the November 13 2016 edition of the Sunday Times newspaper.