All’s well with Floyd’s venture
AFRICA IS OPEN FOR ENTREPRENEURS
AN AMBITIOUS young entrepreneur has ventured into the wellness sector to make a name for himself in the business world.
Sports and orthopaedic physiotherapist Floyd Lebatie says his mission is to dominate the sector through building practices that will help athletes while building a property empire at the same time.
Lebatie says he identified sports therapy as a niche and lucrative market from which he could make his mark.
He says the idea behind the business was based on his own experiences as a former Jeppe Boys High rugby player.
“When I was a schoolboy I loved sport. I played first team rugby at Jeppe Boys High School. During that period I had a few injuries, I had to go for physio and I loved the connection between the sport side of things and helping people,” says Lebatie, who specialises in the area of sport and orthopaedics. Ironically, he opened his first wellness venture at the same school.
He says he loves the fact that his venture dovetails with his personal life, belief system and values.
“At the beginning of last year I opened another practice in Waterfall, Midrand. It was a growth process because as you shift in different phases of your life you need to put things in alignment,” he said in an interview at Aurelie’s Health & Lifestyle Café, which is described as a little heaven for vegetarians and foodies interested in health and wellness. Lebatie says running two wellness centres EVERY entrepreneur’s dream is to expand and those considering going up Africa need to do some careful research.
Here are some of the key factors to look into.
Each of Africa’s 54 countries represents a distinctive market with different challenges and intricacies in doing business. The various economies, laws, languages and cultures need to be thoroughly assessed around strengths, weaknesses, potential opportunities and threats.
Growing operations across borders should not be based on how big a business is, nor which growth stage the business is in. It should be based on markets that are conducive to the required business goals.
Entrepreneurs should consider, among other things, the language barrier; availability of local skills; potential demand for the product/ service, as well as the competitive landscape. The region’s historic economic performance should also be an important consideration along with its growth prospects.
Conducting due diligence and understanding all relevant regulations is crucial. Most might be difficult but he relies on the solid mentorship which he received as a budding businessman.
“I understand the end-game, so it’s worth the work,” he says. “It’s not easy to work for a big company and it’s not easy to work for yourself. I was blessed to have mentors who taught me about business.”
He maintains that cash flow is the biggest killer of any business and that many enterprises have ended up getting hurt as a result.
“I focus on keeping the cash flow healthy in my practices so that we don’t end up in a compromising position,” he says, adding that Robert Kiyosaki’s best sellers Rich Dad, Poor Dad, and Cashflow Quadrant; and John C Maxwell’s Leadership 101, and Grant Cardone’s The Millionaire Booklet, assisted him to sharpen his entrepreneurial mindset.
“Invest in your mind and focus every day on growing a little in things that matter.”
Lebatie says his clients are sportspeople and that his objective is to provide them with the best evidence-based management.
He says he is grateful to have spent quality time with some of South Africa’s best physiotherapists companies make mistakes during this phase and find themselves facing massive fines or potentially devastating legal action.
Crucial information should include required permits, business and property registration processes, credit requirements, tax legislation, labour market regulations and local content requirements.
While most countries have adequate laws in place to protect foreign investors, it is the enforcement of the laws, or even the time taken to perfect one’s rights that is often a substantial inhibitor to business success in a country.
Developing robust contracts and using local attorneys to ensure that the contract complies with local laws is therefore imperative.
To succeed in any country, it is essential to have a strong local presence, knowledge of the local market and an understanding of customer expectations. Employing workers from the region can be one of the best ways to support operations and will benefit the business and the local economy.
Finding the right employees, creating cohesive teams and implementing skills training within the organisation relies heavily on understanding the culture and being during his time as a student at Wits University as this gave him a solid footing into a promising business venture.
Lebatie says his goal is to dominate the sector through word of mouth.
“It’s a very powerful medium because if you have a very happy client he’s going to refer others. But likewise if you have a very unhappy patient that will also spread like wildfire.”
Outside of running his businesses, Lebatie says he is passionate about community upliftment.
“I’ve got a project called The Legacy Men, which I believe is my calling,” he says.
Through the project, Lebatie wants to help young men to become better.
“Better men are better fathers, husbands and leaders. I didn’t want to wait until I’m 60 to start something of significance,” says Lebatie.
He says growing up in Bezuidenhout Valley, he witnessed many households that were womenheaded.
“So what we do through the project is to hold small seminars in schools across Joburg on the principles of becoming a better man. I want to give young men access to role models,” he says.
“At these seminars we have people who have already achieved success speak and enrich the lives of young men between 14 and 30.”
Lebatie, who has travelled extensively, stresses that the end-goal for him is to create a mentorship programme that lasts. able to effectively work around the potential language barriers.
One of the most important things to do is to understand the reliability of basic resources such as electricity and water supply as these remain a challenge in some countries. Many areas receive supplies for only a few hours a day.
Where necessary, entrepreneurs need to budget for back-up facilities such as generators or even consider signing contracts with mobile fasttrack suppliers who can operate and maintain their own generators on the business’s property.
Similarly, water scarcity and regular droughts are common in many regions, which is why businesses may need to consider implementing water-saving initiatives for their buildings and recycling where possible.
The rewards for getting it correct are significant and this list should not deter entrepreneurs but serve rather as a reminder of the amount of research that should be conducted beforehand.
Africa is open for business.
All it takes is drive, passion and perseverance to tap into its growing markets.
Bierman is managing director at Business Partners Ltd.