Our featured entrepreneur this week is Phillip Vilakazi from Bobeve Trading 111 (Pty) Ltd. Bobeve is an electrical, construction, plant hire and general supply company.
100% Empowered
Bobeve is a 100% Black Owned and 75% Black Female Owned fully empowered company. Each of the directors understand the integral role they play in the success of the business. They are all driven to work hard to ensure its sustainability.
Reading is key
Phillip is an avid reader. When asked what book is his favourite, he mentioned that he’s spent many hours scouring through books for entrepreneurs. These books have taught him how to run a business, what challenges exist in business and why many businesses fail in their first year.
A little perseverance
Jacob Mtsweni is Phillip’s business partner in a coal hauling company. The coal company currently does not have any direct contracts but has been awarded some subcontracting. Most of the income received to date has been used to pay for expenses. After a year, there has been little or no profit. It’s tough for an entrepreneur starting out. Jacob motivates them to keep pushing through, that one day, they will reap the rewards.
Excellent line of defence
Phillip is inspired by the young Goal Keeper, Itumeleng Khune. He shot to fame when he saved three penalties in the Telkom Knockout in 2007. He is a brave goal keeper. Just like an entrepreneur, you sometimes have to face your challenges straight on and be brave. Know that by putting in hard work and long hours you can achieve greatness.
Stuck on an island
Just like most of the other entrepreneurs we’ve chatted with, Phillip would also have his banking app, a map app and WhatsApp if stuck on an island. Our entrepreneurs main focus is to see how things are going with the business and to make sure everything is running smoothly while they are away. Being an entrepreneur means you are dedicated to your business 24/7
Challenges faced
Some of the challenges faced by Bobeve has been gaining access to the market through contracts and tenders. As with most entrepreneurs, finance to fund their own equipment has been another. They have also needed to develop their financial acumen, as well as understand tax and compliance laws.
Hurdles overcome
By taking part in this programme, they have seen phenomenal growth. The training and development has helped them connect with a broader target market. They have created a LinkedIn account and are currently working on updating their website. Their mentoring sessions have also given them to opportunity to discuss further how they can apply what has been taught. Overall this has a been remarkable an opportunity to learn.
