90 Rules for Entrepreneurs by Marnus Broodryk

Author:Marnus Broodryk
Language: eng
Format: epub
Publisher: Jonathan Ball Publishers
Published: 2017-10-09T19:22:01+00:00

HUSTLE. HUSTLE. HUSTLE. HUSTLE. THEN KEEP HUSTLING

It’s the subtitle of this book, and it’s my mantra for life – hustle. Hustle is about making things happen, not accepting the status quo, and pushing harder every day. Easier said than done, right? These are some of the ways I think you can bake a little hustle into your entrepreneurial life.

SIZE THE PRICE

Michael Mendelowitz is one of the founders of Transaction Capital (a JSE listed company worth billions) who bought a stake in The Beancounter in 2016. He is another example of an ‘under-the-radar’ superstar entrepreneur, and he always preaches about one thing: size the price. By putting in the same amount of energy, hours and money, one entrepreneur can build a million- or a billion-rand business – and it’s not dependent on anything other than the opportunity. Some opportunities will keep you busier than the devil on judgement day but make you very little money, while others will make you more money than the Kardashians with the same or less effort.

Let’s see how this works. Let’s look at two construction companies – we’ll call them Judgement Day Construction and Kim’s Logistics. Kim’s builds shopping centres and charges R200m per project, while Judgement Day helps with residential renovations for R2 000 per project. Which one is likely to create more financial success? Obviously, Judgement Day will need more clients, more employees, better systems, and more management to get even close to Kim’s level – all of which equates to more time, money and energy. Which one would you rather be involved in? The one that demands piles of effort but returns divot-sized profits? Didn’t think so.

Size the price! The same entrepreneur who is great at selling to consumers will make much more money selling diamonds or high-value properties than selling pot plants.

Look at the opportunities presented, and evaluate them in terms of what you’ll put in versus what you’ll get out. More often than not, doing less of more is the smarter way to go.

Doing less of more is the smarter way to go.

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