In this episode, we unpack lessons from Theo Baloyi.
He is the ex-accountant who left the comfort of employment to create a business that sustainably employs others. He started the fastest-growing sneaker brand in Africa from his township home in Alex. After being rejected 13 times Bhatu now has over 25 stores (and counting) sustainably employs over 200 people and has many great partnerships. The shoe brand is now recognized as one of the top 10 trusted brands in Africa. His exploits and passion have gotten him accolades such as Young Entrepreneur of the Year 2019 – South African Business Premier Awards; Forbes Africa 30 under 30 – 2019; BBQ Awards – Hennessy XO Businessman of the Year Award 2020; and Top Empowerment Awards 2020 – Top Empowered Young Achiever of the Year. His name is Theo Baloyi and here are some lessons we can learn from him.
Despise not the days of small beginnings
“I think, for me, because I started from humble beginnings and I was very intentional, I’ve sacrificed so much and I’ve re-invested so much in starting the business, I literally live my brand. Even at times when things aren’t going the right way, I just keep on going. I think it’s something each and every person needs to have in them.”
What stops people from starting is the fear of failure or being overwhelmed by the vision they have and the time it will take to get to where they want to get to. However, every big company was once a start-up – every single one. They all started small in a garage, a room, or the boot of a car. It is the small beginnings that will help you remember where you came from and give you the strength to succeed. Starting small and struggling to grow develops a depth of character that perceived “overnight success” won’t give you. Theo always points to the story of him starting from the boot of his car and refusing to quit – always sacrificing and giving back into the business to build what he has today.
Despise not the days of small beginnings as they build the character you will need to stay at the top.
No matter what, keep working
“In favourable and unfavourable times…YOU WORK”
Hard work is a great deal of effort and endurance. In the world of business, you are 80% likely to fail. Therefore you will face hard times. You will be rejected. You will have times when you don’t want to get up in the morning. You will have times when you think you can’t make it anymore. When this happens, you need to remember that you are a gladiator and keep working.
Theo has definitely faced resistance, rejection, and ridicule on the path to success. He was first rejected 13 times before he got a meaningful partnership. Even at the zenith of success, he is still facing resistance, rejection, and ridicule. In spite of this, he has what I call his ‘work no matter what philosophy.”
They hate…You Work
They criticize…You Work
They speak ill of you…You Work
They copy…You Work
They sabotage…You Work
They Say No…You Work
They Plot evil…You Work
In favorable and unfavorable times…You Work
Work when things don’t go well, work when you don’t have money, work when you don’t have a favor, work when things go well, work when you don’t see light at the end of the tunnel – work no matter what. There are a lot of things you can’t control but you can control how hard you work.
Scale fast
“I literally lived my brand”
“Think big, start small, then scale or fail fast” – Mats Lederhausen
It’s good to start small and to do small things well. It is not good to stay small if you have the opportunity to grow bigger. The bigger you grow, the more people you can serve. This is the thinking that has aided Bhatu’s success in growing fast. They have opened 8 stores in three months and grew over 300% in sales over a pandemic. This was not always the case when the brand started with sales happening from the boot of a car.
Your business serves people. More people need your service and can only get it once you decide to grow bigger as fast as you can while remaining patient.
Foster great partnerships
“I hustled Somizi to wear my shoe. Years later he wore my shoe and then people asked if it was his shoe.”
“Clients are the best people to position your brand”
One of the nine building blocks of the Business Model Canvas is the Key Partnerships you build. The right partner will help you build your business, give you more exposure and insights you never would have gotten on your own. The partnership Bhatu fostered with Somizi helped grow the brands’ exposure and sales, get more celebrities to wear the shoe, and partner with other brands such as Castle Lite, Steers, and Forbes Africa.
Find the right partner, build a relationship with them and grow your brand. Don’t get disheartened if some turn you down – the right partner will work with you at the right time.
Stick to the grand vision
“The vision is to have 600 stores worldwide”
There is a saying that the greater your goal, the quicker it co…
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