Describe your business purpose in four words and win
If they can do so they stand in line to win a free place on the popular GSB Find Make Grow Realise (FMGR) course running this March.
To enter, entrepreneurs and aspiring entrepreneurs must describe their business purpose in four words and tweet this with the hashtag #FMGR4WordStory by 12pm on Friday 21 Feb.
Keet Van Zyl, Director of Knife Capital, and course convener of the FMGR course says that all great businesses can sum up their core reason for existence in simple terms.
He said: “Some of the first questions a high-growth investor will ask is why does your business exist and what burning need does it address the market. If you can communicate this clearly you have the attention of the investor.”
FMGR also helps entrepreneurs to articulate these key concepts. The popular course brings entrepreneurs and investors together for an intensive two-day process that takes them through the steps of building a high potential business and optimising its potential.
“The FMGR course’s four word story is: high growth investment course,” said Van Zyl. It is also no coincidence that the whole two-day course curriculum is summarised in four words: “Find Make Grow Realise”.
Kumeshnee West, Senior Manager in Executive Education at the GSB says that the FMGR course seeks to build the entrepreneurship and innovation ecosystem of the country because this is a proven way to create sustainable jobs and growth.
According to new data released by Knife Capital this month, the average high potential startup company has plans to increase from six to 16 employees over the next three years while achieving 120 percent year-on-year growth rate.
Van Zyl said he believes that there are many other startups out there with high potential for such growth that can be carefully engineered through initiatives like the FMGR course.
For more info on FMGR course go to http://www.gsb.uct.ac.za/fmgr.
5 minutes with... Janthana Kaenprakhamroy, CEO, Tapoly
Founder and CEO of award-winning insurtech firm Tapoly, Janthana Kaenprakhamroy heads up Europe’s first on-demand insurance platform for the gig economy, winning industry awards, innovating in the digital insurance space, and leading with inclusivity.
Here, Business Chief talks to Janthana about her leadership style and skills.
What do you do, in a nutshell?
I’m founder and CEO of Tapoly, a digital MGA providing a full stack of commercial lines insurance specifically for SMEs and freelancers, as well as a SaaS solution to connect insurers with their distribution partners. We build bespoke, end-to-end platforms encompassing the whole customer journey, but can also integrate our APIs within existing systems. We were proud to win Insurance Provider of the Year at the British Small Business Awards 2018 and receive silver in the Insurtech category at the Efma & Accenture Innovation in Insurance Awards 2019.
How would you describe your leadership style?
I try to be as inclusive a leader as possible. I’m committed to creating space for everyone to shine. Many of the roles at Tapoly are performed by women and I speak at industry events to encourage more people to get involved in insurance/insurtech. Similarly, I always try to maintain a growth mindset. I think it’s important to retain values to support learning and development, like reliability, working hard and punctuality.
What’s the best leadership advice you’ve received?
Build your network and seek advice. As a leader, you need smart people around you to help you grow your business. It’s not about personally being the best, but being able to find resources and get help where needed.
How do you see leadership changing in a COVID world?
I think the pandemic has proven the importance of inclusive leadership so that everyone feels supported and valued. It’s also shown the importance of being flexible as a leader. We’ve had to remain adaptable to continue delivering high levels of customer service. This flexibility has also been important when supporting employees as everyone has had individual pressures to deal with during this time. Leaders should continue to embed this flexibility within their organisations moving forward.
They say ‘from every crisis comes opportunity’, what opportunities do you see?
The past year has been challenging, but it has also proven the importance of digital transformation in insurance. When working from home was required, it was much harder for insurers to adjust who had not embedded technology within their operating processes because they did not have data stored in the cloud and it caused communication delays with concerned customers at a time when this communication should have been a priority, which ultimately impacts the level of customer satisfaction. This demonstrates the importance of what we are trying to achieve at Tapoly in driving digitalisation in insurance and making communication between insurers and distribution partners seamless.
What advice would you give to your younger self just starting out in the industry?
Start sooner, don’t be afraid to take (calculated) risks and make sure you raise enough money to get you through the initial seed stage.