Investec's Abey Mokgwatsane talks million-rand business idea
We've got all the insights into 'Owning your Legacy' from Abey Mokgwatsane, group chief marketing officer at Investec.
Danny Guselli recently spoke with Investec’s group chief marketing officer, Abey Mokgwatsane, who shared some valuable advice for our A Million and Change winner.
As a headline speaker at the upcoming MANCOSA East Coast Radio Business Breakfast, Mokgwatsane is well-equipped to highlight key pitfalls entrepreneurs face when turning an idea into a million-rand business.
He starts on an uplifting note, emphasising that what many see as mistakes are actually growth opportunities.
Mokgwatsane says the best way to shape a business idea is by addressing the gaps that larger companies overlook. Solving the challenges people face when dealing with big businesses provides a strong foundation for a million-rand idea.
He outlines three key areas to focus on when looking at your business idea.
1. Customer service: Exceptional service can set you apart and build long-term loyalty.
2. Identify a niche focus: "Pick a lane," he says. "Big companies try to do everything. If you try to be everything to everyone, you'll end up being nothing to anybody." Instead, specialise in one area, dominate that space, and avoid spreading yourself too thin.
3. Know your customers: Understand them better than they understand themselves. Their needs, biases, hopes, and dreams should shape your business strategy and offerings.
READ MORE: One Million Rand… Could it be YOU?
Mokgwatsane wraps up by offering valuable advice on making the most of the MANCOSA East Coast Radio Business Breakfast, noting that many attendees arrive unprepared.
Before you head to this year’s event on April 17, 2025, get insider tips on how to prepare by listening to the full interview at the top of this article.
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