Eight contestants from the 2022 Engen Pitch & Polish competition share their lessons learnt along the way.
Thabiso Sebata – Start Media Designs, Gauteng
Thabiso works with local photographers to build a subscription-based South African image stock library that provides authentic local images to industries and marketers.
Q. What made you enter the 2022 competition?
When I saw the poster, I thought this would be a great opportunity to take our business to the next level. I always wanted to be part of Raizcorp programmes and seeing that the winners will get mentorship also, made it even more important for us to be part of this competition.
Q. What has been the most important lesson you’ve learned?
One major lesson I took away is that numbers are everything; you need to know your numbers in order to know if you are growing or not. Numbers help to inform your growth strategy. I am excited that I got a guide (mentor) who is an expert in numbers, and he was able to help me understand how to calculate things like break-even points, costs and profits, etc.
Luvo Gugwana – Green Arch Innovations (Pty) Ltd, KwaZulu-Natal
Luvo’s social enterprise adopts smart and sustainable food-production systems, such as aquaponics, to help alleviate poverty and food insecurity in rural and urban settlements. His also offers a franchise model for his aquaponics system.
Q. What made you enter the competition?
I want to scale my business, and I saw a great opportunity to get direction from industry experts for the growth of both the business and myself. The competition offers a great framework for guiding entrepreneurs and small businesses, and I believe it’s the right time to steer the company into the direction of growth by learning and engaging with industry experts.
Q. What has been the most important lesson you’ve learned?
From the onset I learned a lot about what makes a successful business and entrepreneur. From the mentorship sessions, it was about pitching and how to structure an investor-centric pitch. The judge’s remarks were valuable and I have looked deeply into the sustainability and scalability of my business. I have employed new strategies and recommendations based on the feedback from the judges and my guide (mentor). A focus for me is to take a closer look at the aquaponics franchise business.
Q. Have you changed anything in your business as a result of the competition?
My business has several avenues and revenue streams which my guide has helped me identify. Equipped with that insight I have changed the scaling strategy and have identified new leads within the business. I am now more focused on building systems for the business as we adjust our long-term goals.
Baatile Stona – Stona Tyre Couch (Pty) Ltd, Gauteng
Baatile manufactures a range of high-quality, custom-made indoor and outdoor furniture made from tyres and wood.
Q. What made you enter?
Watching the competition last year, I saw an opportunity to learn more about business, grow my own business, and to find ways to increase sales and funds.
Q. What has been the most important lesson you’ve learned?
I’ve learned how to pitch to private investors, how to find my competitive advantage and how best to capitalise on them.
Q. Have you changed anything in your business as a result of the competition?
Yes, I received templates to help me with my financial statements. Additionally, I learned how to pitch my business, to recognise its unique selling point and how to compensate myself as the owner of the business.
Palesa Motuang – Agrikool, KwaZulu-Natal
Palesa’s company provides market access to farmers through its e-marketplace which directly links farmers and buyers of agri-products in a fair and reliable market.
Q. What made you enter?
I entered the competition because of the mentorship opportunity which I believed would help me improve my pitching and presenting skills.
Q. Have you changed anything in your business as a result of the competition?
We are working more strategically on our operations and growing our supply base.
Nothando Khowa – Umbilo Express Plant Hire, KwaZulu-Natal
Nothando supplies small to medium plant and tool hire including road compressors, generators, breakers, rollers, soil compactors and more.
Q. What made you enter?
I came to learn about it through a Women in Business WhatsApp group, and was encouraged to enter by friends and family. I entered the competition in the hopes for the prize money, the exposure and the business lessons. I have only ever been behind the counter, and focused on the processes and numbers of my shop. I’ve never had exposure to investors and potential partners who could help me grow my business.
Q. What has been the most important lesson you’ve learned?
The mentorship element of the competition touched on a lot of factors which I had already learned in the business and at varsity. However, what was apparent to me after the lessons was that what you learn at school is very different from what your customers, competitors and other stakeholders in your business can teach you. The people who can help you grow your business are most likely already within your reach; it’s just a matter of sparking conversations and building relationships which will perpetuate potential growth and transformation.
Q. Have you changed anything in your business as a result of the competition?
As a result of entering the competition, I’ve decided to stop waiting for the perfect time to take actions that could help grow my business. In the four years of running my shop, I have only had the vision to pay back the business loan and then consider expanding. But, waiting for the perfect time and sequence of events leads to stagnation. I’ve taken on more meetings with customers, investors and marketers than I was open to doing before. My mindset has shifted from running the transactions within my business to now including direct efforts and attempts at driving the growth and expansion of my business.
Lucky Mnikathi – Ikhahlamba Trading Enterprise CC, KwaZulu-Natal
Lucky enters into lease-buying agreements and renovates high-rise buildings for use as student accommodation.
Q. What made you enter?
I was looking forward to getting the right exposure to investors and an opportunity to expand my network.
Q. What has been the most important lesson you’ve learned?
I’ve gained an understanding of what potential investors are looking for prior to making the important decision of whether to invest in my business.
Claire Louis – Katanimate AnimationStudio, KwaZulu-Natal
Claire runs a 3D-animation company which produces animated content for television broadcast.
Q. What made you enter?
I saw that the prize was worth R1 million including a Raizcorp incubation programme bursary which would really help me set up the equipment workstations for the expansion of my animation studio.
Q. What has been the most important lesson you’ve learned?
As a creative who became a business owner and producer it was reinforced to me during our training that my animation projects are not my company. These are two different things.
Q. Have you changed anything in your business as a result of the competition?
Yes, we now have a division that goes after small commercial projects that bring in revenue (an extra revenue stream) and working smarter to get projects following one after the other. I’ve also been far more on top of cashflow than I’ve ever been before.
Victor Sables – Souvent Trading and Investments t/a Kathy’s Kitchen, Western Cape
Victor manufactures and supplies health snacks to retailers.
Q. What made you enter?
I entered the competition thinking it would be a great challenge, and to embark on something I’ve never attempted before. I took a chance and entered.
Q. What has been the most important lesson you’ve learned?
I believe that if you need funding to survive then you don’t have a successful business. Funding should enhance your business, not keep it afloat. If you are using funding to keep you going – when the money runs out, you will continuously be back to look for more.
