Its never too late to start your own business

							                                                                                                  André Diederichs



      It’s never too late to start your
                own business

Society often unfairly perceives people over the age of 45 to be unemployable in the
formal sector. However, starting a business later in your life will require a creative mind
set, boundless energy plus a definitive vision for the business.
Old Mutual’s SMME specialist, André Diederichs,              Diederichs: What would you count as the most
recently interviewed Dennis Nelsen, who at the age of        challenging event in your business to date?
49 ventured on his own with a pool heating business in
the Western Cape.                                            Nelsen: In 2005 my principal product provider was
                                                             taken over by another company which left me out in the
Diederichs: What motivated you to go on your own?            cold. This forced me to realign my business. I must have
                                                             done something right, because in 2007 - a mere two
Nelsen: I worked as an agent for a solar panel company       years later - my business was the most profitable ever.
for nine years. In 1997 the business fell on hard times      And, this did wonders for my business confidence.
and could no longer pay my commissions. Realising that
my age would probably count against me, I pooled my          Diederichs: Still going strong in your 12th year, what
resources and expertise and launched The Sunshine            advice do you have for aspiring entrepreneurs –
Connection, a pool heating business – without any            especially for those who may be compelled to venture
funding, or any clients!                                     on their own much later in life?


Diederichs: How did you find your first year in              Nelsen: Success in business will follow those who are
business?                                                    prepared to journey into the unknown and take a leap of
                                                             faith in themselves. In fact, it is not for the faint-hearted.
Nelsen: My first year was very difficult financially. In     My practical guidelines for prospective entrepreneurs
fact, it was a humbling experience. But, it taught me        are:
to keep my operating expenses at the bare minimum -          n Stick to something you know;
something that I still practise today.
                                                             n Use what you have;
                                                             n Avoid borrowing money initially, because it has to be
Diederichs: How did you market your business initially?
                                                                repaid; and
Nelsen: Obviously, my biggest challenge from the             n Be hard on yourself.
outset was to find new clients. Because without clients
you do not have a business. In those days, advertising       Through its continuous training of SMMEs nationally, Old
my products/installation services on leaflets still worked   Mutual has established a centre of competence which
as a marketing strategy. And, once I found a new client      offers a comprehensive range of financial products and
through this method, I would bombard other residents         services including risk assurance/insurance, investment/
in the same street with my flyers. This seemed to pay        retirement planning as well as banking products and
dividends.                                                   services.


 For more information, contact Tracy Kroukamp on (021) 509-2462 or send an email to tkroukamp@oldmutual.com