What is an entrepreneur?

His hard work from the start was not without its rewards and within the first three months he had doubled the previous owner’s turnover. A year later he had fully repaid his debts to both the bank and his father and was still satisfied to make do with a meagre monthly salary.

”One of the most important reasons for the success of my enterprise is that I am honest towards my clients. That makes them trust me. I am also honest towards my employees and I pay them well.

”I reinvested my surplus in my business and bought machinery, a bakkie and larger refrigerators,” Slabbert recounts.

He built a house for which he paid cash and never incurred any debt again. In 1996 he bought his own building and presently provides employment for 45 people. During the festive seasons he needs more staff, because his products are in great demand.

“If you look after your people, they will look after you. I get offers of meat from all over the country because my butchery has such a good reputation,” says Slabbert.

At present Slabbert is building his own factory where he will process his meat. He is already a bulk supplier to local supermarkets and various butcheries as well as to other smaller shops.

“Besides the fact that you have to be tough and resourceful when you start your own business, there are also other factors that must be taken into account. It isn’t really a good idea to borrow money, because your debt simply doubles with all the interest you have to pay.

“My advice to beginners would be to start off a business with a large investor who can be trusted. The alternative, if you have no money, is to start small, as I did. To start on a smaller scale is more difficult, but in the end you are your own king.”

(Source: Die Burger , 5 July 2003 - translated)

Write down five reasons why Slabbert was successful, and that have a direct bearing on him as a person. Give an example in each case.

Class discussion

• Discuss each other’s lists and draw up a joint list of ten qualities that are essential to an entrepreneur. Do it as rough work (on your own paper), discuss it with your teacher, and write down the final list.

Now use the list to evaluate yourself as a possible entrepreneur. Mark the qualities that you have already observed in yourself by placing a tick in the right-hand column next to each relevant quality. Award yourself a mark out of 10.

Assessment

Memorandum

ACTIVITY 1

• The class discussion on the characteristics of an entrepreneur should elicit interesting contributions to this important topic. It is important that you allow the learners to argue the topic from their perspective. However, the newspaper report is but one of many examples that can be used as a point of departure. Learners should be allowed to contribute by recounting other relevant stories.
• Ultimately, however, the learners must include the following characteristics that have been identified through research:

CHARACTERISTICS OF AN ENTREPRENEUR

1. Continuously seeks and utilises new opportunities.

2. Can persevere and is tenacious: for instance, will make personal sacrifices and try again and again if there are hurdles along the way.

3. Is committed: accepts responsibility, but is willing to work alongside the other team members, and to work just as hard as they do.

4. Demands quality and effectiveness.

5. Takes chances: Is willing to take calculated risks.

6. Works singlemindedly: Sets short-term goals that are set on longer-term objectives (almost a vision).

7. Plans thoroughly, works systematically and monitors regularly.

8. Constantly looks for new information and establishes networks: therefore knows the needs of the market and is aware of competitors’ activities.

9. Believes in what he/she does and has the ability to convince others.

10. Has self-confidence and believes in him-/herself. 10. Has self-confidence and believes in him-/herself.