Trustco billionaire Quinton Van Rooyen speaks after pledging N$10 000 at the QVR event in Keetmanshoop, while the three people entrusted to double the amount look on.
Keetmanshoop
The founder of Trustco Group Holdings, Dr Quinton Van Rooyen, says entrepreneurs should combine smart ideas with smart choices if they want to succeed in business.
Speaking at an interactive meeting at Keetmanshoop last Thursday, he shared his success story from humble beginnings to his current empire and also touched on the Black Economic Empowerment (BEE) policy, wealth creation, poverty and the importance of education in business.
He believes smart ideas and smart choices can make a successful businessperson and advised prospective business people that it is best to start small and grow gradually, pointing out that he has never come across a method to get rich quickly.
He believes entrepreneurs should be the first to wake up and last to go to bed and should be very dedicated to their business in order to flourish.
While hard work pays off, education is of utmost importance for business success, he said. He explained that education is vital as it helps business owners understand the key economic issues that affect their businesses and this enables them to make smart decisions.
“Education is important. It’s never too late to study because if you are a stupid entrepreneur you will remain poor,” he stressed.
He explained that for anyone to become a successful entrepreneur, they should have an idea of how business works, how banks operate and how to read basic financial statements and other important financial documents.
The self-made billionaire also advised business people to take good care of their employees, but at the same time adhere to high ethical standards.
He emphasised the importance of motivating workers, saying that business people should put their workers’ needs before their own.
“Think of your business day and night. Pay your workers first and yourself second. It takes credibility, sweat and tears. It’s not easy,” he said.
Responding to a question from a member of the audience about the BEE policy, Van Rooyen, who is clearly not a fan of it, said he does not think an individual should have privileges based on their skin colour, emphasising that people do not appreciate things that they have not worked hard for. He said in most cases if one gets something for free it will not last.
“If you get things just because of your skin colour, you will not make good use of it,” he stated.
Van Rooyen also encouraged people to get up and create wealth for themselves, rather than waiting to work for someone else.
He said although being poor is not a sin, but remaining trapped in poverty while you have the capability to change your situation, is not acceptable
He urged people not to be afraid to take risks, saying only a slave begs from his master all the time and thus people should refrain from waiting for hand-outs as if they are slaves and start working to get their own things.
He also pledged N$10 000 to the //Karas community, with the expectation that three members will come up with a feasible business idea to double that amount. He promised to return and donate another N$20 000 should his donation be doubled.