Lessons in entrepreneurship and leadership

The most recent Sunday Times Top Companies Leaders on the Move event, in association with Johnnie Walker, took place on the same day South Africa awoke to the news that respected finance minister Pravin Gordhan had been axed, plunging the country into an uncertain future. On an unusually sombre day, it was perhaps appropriate to have an in-depth and meaningful discussion about leadership.

The first speaker of the day was entrepreneur Lebo Gunguluza, a Dragon investor on South Africa’s Dragon’s Den television show. He said that any position of leadership is tricky when you consider all the different stakeholders you need to satisfy. As an entrepreneur, he said, clients are essentially your employer, and the successful entrepreneur understands that he or she needs to ensure a good working relationship with even the most difficult client.
But what happens when the client’s values don’t align with your own? Does profit trump values? It’s a difficult situation, said Gunguluza, but in instances where you are contractually obliged to deliver a service, you have to deliver. 

Gunguluza grew up in a shack in the impoverished Port Elizabeth township of New Brighton. Despite his humble beginnings, he became a self-made millionaire at the age of 27. His entrepreneurial ventures started at the age of 10, when he established a tuck shop, an initiative that taught him a good deal about profit and loss, and price pressure points.
In 2002 he founded a media and hospitality group that had interests in companies in the media, communications, hospitality and IT spaces. Since then he has refocused his group to concentrate on the events industry.
Successful entrepreneurs, Gunguluza said, look for the gap in the market and then act quickly to take advantage of it. They’re prepared to take risks, and they believe in their own abilities and skills. Other lessons he imparted included the importance of getting involved and getting “your hands dirty”, ensuring that your business is sustainable and outlives you, and constantly being alert to threats.

Tiger Brands group CEO Lawrence MacDougall stressed the importance of playing the cards you are dealt and being vigilant so you can mitigate against “bumps” in the road. He cited the recent crippling drought, as well as political and currency uncertainty as some of the challenges Tiger Brands faces. It will not be the strongest or the cleverest that survive these tumultuous times, he said, but those who can adapt to change.
Successful leaders, MacDougall said, are those with a clear goal in mind. He believes in empowering his teams with the freedom to operate within a framework and has focused on creating an open, inclusive and equal workplace at Tiger Brands.
Under his leadership, Tiger Brands has become closely involved with the issue of sustainable food supply, something he believes is one of the biggest challenges our country will face.
MacDougall started his career at Unilever and subsequently worked for a number of leading fast-moving consumer goods companies, including Cadbury and Mondelez.
As a leader, he said, there are times when you need to stand back and listen more than you talk. And, despite the best intentions, there will be times when even successful leaders make the wrong decisions. In these instances it’s important to rectify the situation as quickly as possible: be transparent and open, and change course.

Like many successful leaders, MacDougall works long hours: his days tend to start at 5 am, he’s in the office by 6 am, and he works a 12- to 14-hour a day.
MacDougall hopes one day to leave behind a legacy of a sustainable and strong business – one that is stronger than when he started.
After an intense morning, delegates at the Leaders on the Move event were treated to a decadent lunch at Pigalle, which they enjoyed with various Johnnie Walker whiskies while learning the correct way to smell, taste and drink whiskey.

The big take-out: Dragon Den investor Lebo Gunguluza and Tiger Brands Group CEO Lawrence MacDougall addressed delegates on entrepreneurship and the challenges of leadership at the most recent Sunday Times Top Companies Leaders on the Move event, in association with Johnnie Walker.