By Zuko Komisa
Tips on taking over and growing a family business.
Taking over a family business can be a very daunting task and there is a good probability that you’re feeling conflicted and anxious about the process.
Anyone who has taken over their family business is sure to tell you there have been problems along the way. However, if you take the appropriate steps to get ready for the change, you may get off to a good start and make sure you’re prepared for success. Here are four considerations as you prepare to take the helm.
Kaya Biz with Gugulethu Mfuphi spoke to Shaun Ncala who is the second-generation business owner of NTS Ncala Holdings, which also trades as Astron Energy about the journey of taking over the family business.
LISTEN TO THE FULL CONVERSATION HERE:
Taking over a family business
“It comes with a lot of pressure and responsibilities, it requires you to put your game face on and go on. I do come from a family where there was a family business, my dad has always been the hustler, who taught me many things about hustling, from spaza shops to filling stations, when I was young I would be carrying cases into trucks.
“The grooming sparked my passion for business. it became more interesting to go into this situation, and it helps you find solutions.” said Ncala.
Shaun Ncala spoke about some of the important lessons he’s learned from his father’s business.
“Take charge: You just dive into the deep end and equip yourself with the knowledge.”
“Discipline – Be very disciplined… You need to start thinking about people impacted by the success of the business.”
“Growth – You need to also grow up, the life of excessive entertainment has to take a back seat.”
“Take care of business – Remember all the things that were possible because of the business.”
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