Bulls n Bears Entrepreneurship Zone :: Three business lessons from the journey of health club CEO Tumi Phake

[Bulls n Bears]

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South African entrepreneur Tumi Phake is the founder of Zenzele Fitness, a
company which operates fully-equipped in-house health clubs at large
companies. Its clients include Absa, Discovery, Alexander Forbes and South
African Breweries.

Phake says the first time it hit him he has an established company was when
the bank approved a home loan against the salary he draws at Zenzele. “I was
like, ‘Okay, cool – I have a proper business’.”

1. Don’t let others discourage you from pursuing your business idea. When
people say things such as, ‘You’re crazy’, or, ‘It will never work’,
oftentimes they are only projecting their own fears.

2. An innovative idea, on its own, is usually not enough to convince
investors to back a business. Investors want to be comfortable that an
entrepreneur has the ability to execute the business plan.

3. To build a large company, entrepreneurs need to spend their time
thinking about expanding the business, and not involve themselves in
day-to-day operational tasks.—Howwemadeitinafrica



Tumi Phake

 

 

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