We recently asked one of our clients a few questions about what inspired their business and what challenges have they faced since starting out with their business. Mamphego Pasha Studios Managing Director Tebello Motlhokoa had this to say about his journey.
What inspired you to go into business?
I came up with my business idea while shackled to my desk at a production company, I wanted the freedom of running my own business, and by starting Mamphego Phasha Studios I could help SMME. More than anything it was a manifestation of my passion. The company was registered in 2016 but only started operating in June 2019. The journey has been tough but like anything, I have learned a lot about myself. It’s rightly said that “Entrepreneurship is not a destination, it’s a journey” and this quote perfectly fits in my life, as it’s been long years and 5 Failed Businesses that have brought me where I am today, Entrepreneurship teaches you what life is exactly is. There’s no certainty in here, you just have to work super hard and chances are super slim that you will ever achieve what you wanted, but then that’s the thrill that compels me to get up every day and work hard on making my vision a reality. With Covid-19 coming into the picture we need to restructure for the future and it was a seriously daunting task.
What are some of the lessons you have learned?
Though failures are a part of the stride, what I have learned from them is:
· Most of us who want to start a business initially concentrate on the differentiation we offer in the product or services. That is not true, offering the same service in the same quality is also acceptable as long as you are good at doing that. E.g. a general store shop offers nothing different and still all of them thrive and make money.
· Don’t assume the entire customer set as customers: a product or service can be profitable if it caters to even 10% of the population those are good enough numbers for a start, so don’t over plan.
· Understand limitations and don’t solve them: there are times we have a limitation and the solution is not practical, but we exceed our limits to solve the limitation, try and create workarounds, and move, solve the limitation as the business matures.
We see ourselves landing repeat clients and having a solid team to create beautiful content. Gaining Authority in the film and television industry. Mamphego Phasha Studios reaching a significant number of sales.
How has S&A Chartered Accountants helped your business?
S&A is playing a big role in my company and I have learned so much from them. My financials have improved because of them.