17 July 2009
	SELF-STARTER Going it alone By Robert Quarshie FM Campus chats to successful entrepreneurs about the highs and lows of owning your own business

With companies cutting back on hiring, you may want to consider developing that business proposal you've had on the back burner, and venture out on your own. But starting a business and breaking the employment mould is not always as easy as it sounds. FM Campus caught up with some of our previously featured entrepreneurs to see what advice they might have for those just starting out. Yashivan Govender First Step (www.firststep.co.za) What are the hardest/best bits of going solo? It was never hard, just a challenge. I guess the greater the challenge the greater the reward. Nothing is hard or difficult so everything is achievable. That's how I viewed going into business on my own as a simple, achievable challenge. Do you have any advice for new entrepreneurs? Don't give up and keep your business simple. What do you wish you had known going into it? Choosing the right business partner is difficult. People can take things for granted and have a level of expectancy without putting in the effort. Chris Cato Afriglobal (www.afriglobal.co.za) What are the hardest/best bits of going solo? The hardest part is keeping focused and staying motivated when the going gets tough. With the recession I have had to retrench staff, move business premises, and cut costs including my own. It's hard to look at people who have given you support and hard work for years and tell them that you are going to retrench them as you can't afford their salaries. The best thing is the freedom. I am married to this business, but I have a lot more freedom to express myself through the business in the way we deal with clients and suppliers. I also have great freedom in terms of working hours and being able to just hop onto a plane and go somewhere. I can also make quick decisions, which help our business survive and grow. Do you have any advice for new entrepreneurs? Watch the cash flow and be careful of your gearing. I have just paid huge school fees and with having too much debt, when turnover dropped I struggled to service my loans. Never take no for an answer. I have learnt to be a lot harder on my suppliers and even harder on my debtors. Work on your relationships with clients, suppliers, and bankers. You are going to need them when the hard times hit. What do you wish you had known going into it? The most valuable lesson I have learnt is to go with your gut. I often ponder decisions for too long. When you see the problem, fix it, don't wait. Get stuck in and fix it or make changes, no matter how drastic they are, to find a resolution. Entrepreneurs know the signs of a problem or a great opportunity. There are great thinkers and great doers. You need to find a happy balance between the two. Your gut is right nine times out of 10. Wayne Lamont Lamont IT (www.litsa.co.za) What are the hardest/best bits of going solo? The hardest bits are the long hours and being responsible for the livelihood of your employees and partners. The best bit is knowing that any success is thanks to your own dedication and vision. Do you have any advice for new entrepreneurs? Identify your strengths and exploit them. Join an organisation like Enablis (www.enablis.co.za), where you can draw on the experience of other entrepreneurs. What do you wish you had known going into it? Your debtor policy and agreements need to be good from the outset.