Wherever you are, there is something different you can do with your business, the secret is innovation.
If you were to ask any entrepreneur what it is that makes them successful, the answer is most likely going to innovation.
This is because in the business world, every individual works hard to outsmart the other and with good reason, said Ndaba Ntsele, Ernst & Young 2008 SA Entrepreneur of the Year and chief executive officer of Pamodzi Investment Holdings.
Ntsele was speaking at the opening of Deutsche Bank's Centre for Emerging Financial Entrepreneurs in Sandton.
He added that Deutsche Bank has gone an extra mile by establishing a centre meant to accommodate six businesses offering them fully equipped office space and an opportunity to share information and network.
Ntsele told Tycoon that entrepreneurs need to continually be innovative in what they do at the same time work towards diversifying their businesses.
"Chances are that what one entrepreneur is doing, two or more people are also doing the same thing which opens a wide competition field," he said.
It is therefore imperative for any entrepreneur, to find new ways of doing business and adding something different from what all other people are doing said Ntsele.
Talking about his own experience when he started his business in the then apartheid South Africa, Ntsele said he didn't have the luxury of financial sponsorship let alone access to fully equipped office space from which to operate from.
He urged entrepreneurs who will be operating their businesses from Deutsche Bank in Sandton to make full use of the opportunities they have been given and be innovative so they can grow their businesses.
Herman Bosman, chief executive officer of Deutsche Bank said this initiative stems from the bank's desire to establish a centre for financial education of emerging entrepreneurs.
He said the centre will cater for six businesses to do business within the Deutsche building while also accessing and sharing business information from within the bank.
Asked what would make this project different from all other entrepreneur sponsored projects, Bosman said it's undoubtedly the location of office space.
Deutsche Bank is situated in the financial district of the city, adjacent to the Johannesburg Stock Exchange and various other businesses in the vicinity.
Bosman said most sponsors give entrepreneurs financial support but Deutsche Bank has gone an extra mile by giving them space from which to work from.
Furthermore, said Bosman the environment will encourage interaction with staff at Deutsche Bank thus offering them a chance to learn more about business in general.
He said the renovation and furnishing of office space to accommodate six businesses within the Deutsche building cost approximately R2m.
Running costs of office space is estimated to be between R1m and R1, 5m a year and the project is ideally set to run for two years after which they will be evaluated.
Emerging entrepreneurs in this initiative need to be young people or have already started businesses not older than two years with a business model focusing on financial services.
Two businesses are already operating from the new centre and four are expected to take up residence within the next few months.
Matlotlo Group (Pty) Ltd is an investment management and financial consulting firm headed by Ranto Mothapo.
Basis Points Capital (BPS Capital) specialises in corporate advisory and debt restructuring consulting with Vusi Mhlanzi as the CEO and partner Nkosi Ncube, the director.
Denise Mhlanga
25 June 2008 00:00
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