NO BUSINESS owner ever had it easy – they’ve had to struggle back after being knocked down.
Any business owner will tell you that the only thing you should do is not give up.
Siphiwe Skhosana (65) told SunMoney about his journey to success. He was the first Mzansi McDonald’s operator and he has grown his business to four outlets.
“Running a business is not easy. I worked as a business manager at a bank so I only knew how businesses worked on paper.”
He said small businesses do not survive without a cash flow.
“What kills small businesses is when income does not cycle back quickly enough or at all, which causes the business to collapse while trying to pay back what it owes.
“The entrepreneur market is big and complex but in every single enterprise there are people working hard and persevering.”
Skhosana had to raise R500 000 to get into the business.
“I didn’t have cash so I sold my assets and cashed in my savings to afford my business partnership with McDonald’s.
“With the help of McDonald’s, I was able to establish a healthy cash flow and after four years, I was able to buy them out and become the owner of two stores. I later expanded to four stores.”
He uses the income to pay employees and creditors first. He avoids all late payments.
“That is my priority: make sure your people are paid on time.”
He said the number of stores you own does not matter as much as how you run them.
Skhosana runs his businesses with his wife and support offered by McDonald’s. “I used to sell sweets and peanuts at school, stadiums and my neighbourhood. I was born to run a business.”
His new goal is to reach out and help school pupils make the change to successful adults.
