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From pressure to profit: Lessons from a latent entrepreneur

Are entrepreneurs born or made? High-flying Cape-based entrepreneur Muriel Jansen suggests that it may be a bit of both, having put her years of experience of working for others into practice when buying and growing her own business.

When minority shareholder Muriel Jansen decided to buy her partner out and take over the reins of stationery and cartridge business Tracktone a little over six years ago, the company was making a loss and the whole sector was under pressure.

Margins and volumes were suffering due to cheap imports and an increased market switch to pay-per-copy, as opposed to running machines with replaceable cartridges, which was their core business at that time.

In the six years since she took over, the business has become the preferred supplier of cartridges and other stationery consumables to the likes of several large retailers, numerous local and regional municipalities and an enviable book of blue-chip clients. During the same period, Muriel has added a highly successful spectacle frame business and a fast-growing branding solutions offering to the company stable, collectively accounting for a turnover in the millions and a client base as far afield as Zambia, Namibia and shortly the rest of Africa.

At the same time, she has found ways to start sharing her entrepreneurial journey with budding young female entrepreneurs, been selected for a Liberty-funded supplier development programme, been interviewed on radio and in the media, and generally made a real splash as a powerful female businesswoman to watch.

This is a remarkable achievement, especially considering that Muriel bought a business that was making a loss and in trouble. Even a recent health setback that required a reworking of her role and a new approach to leadership and empowering of her team, has not slowed her down. So what is her secret? We asked her to share some of her entrepreneurial insights learned over the years.

1.  Did anything about your childhood shape your journey as an entrepreneur?

My parents both left their jobs to work in their own business; we the kids were recruited at a very young age to assist and this is where I developed my love for business - and I am told that even as a youngster I was constantly giving them advice on changes that I thought would work!

2. What made your focus shift from being an employee to being the boss?

I was fortunate to become a shareholder of a company that I worked for in a senior management position. As time developed, I realised that I was actually running the company on my own and simply paying dividends to an absent partner! I decided in 2010 to buy my partner out, which was a calculated risk as times were tough then.

3. What's the most challenging part of running your business?

Human Resources is a challenge for many SMEs - aligning the business with the right people who share your ethos of hard work and passion can be a long and painful process, but one you absolutely have to master if your business is to grow.

4. What has been the secret to your success?

It is a bit of a cliché, but you simply have to give your clients the same respect and levels of service that you would expect for yourself. If you are only in business to make money, your business will probably fail. I have learned that if you are passionate about what you do and deliver excellent service, everything else tends to fall into place…

5. What is your next major business goal?

Our next move is to expand the basket of products that we offer our clients and also venture into Africa on a larger scale. I currently supply eyeglass frames to Namibia and cartridges to Zambia and one or two other locations, but there is huge potential for expansion in this region and we are fielding a lot of enquiries.

6. What help if any do you need to achieve this?

Market research on which products to expand with in which markets is very important. A company should always be looking at ways to diversify and add complementary products and services to its basket, but one needs to also guard against too much diversification, which could lead to your clients becoming confused about your offerings.

Understanding how Africa works and the impact it could make on our current business is key to our success there.

7. What three pieces of advice would you give to aspiring entrepreneurs?

• Make the effort to know and study the market you want to trade in

• Understand what your competitors are offering and better their service

•  Believe in yourself , because then others will believe in you too

8. As a female entrepreneur, have you faced any particular challenges?

It takes longer for a woman in business to get the respect and acknowledgement that you actually do know what you are doing, especially in the industries we are active in. I have fought for my success, and have had to prove myself in situations where a male probably would not have had to – but that just makes it feel more rewarding when I land that deal, or successfully execute a contract. My passion is helping other female entrepreneurs carve their own niche and show the men how it is done!

9. Who is your business hero, if anyone?

Richard Branson is a master at empowering teams. This is a skill I value highly.

10. Any parting shot you want to share?

I started in Telesales and as a data capturer, but I believed that one day I would be a business owner. No one determines where you end up, the journey you take is the journey you decide on.

* Anton Ressel is a small business coach and resident adviser on Fin24's weekly video show #EntrepreneurCornerSend us your questionsand Anton will answer as many as possible in future shows. You can also engage with us on Fin24's Twitter and Facebook pages. Look for our hashtag, #EntrepreneurCorner.

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