Bandela B. Mgoqi, an online entrepreneur & pharmacist, took a leap of faith to become an online entrepreneur. BBQ Magazine talks to him about his journey.
Bandela B. Mgoqi, an online entrepreneur & pharmacist, took a leap of faith to become an online entrepreneur. BBQ Magazine talks to him about his journey.
Bandela B. Mgoqi, an online entrepreneur & pharmacist, took a leap of faith to become an online entrepreneur. BBQ Magazine talks to him about his journey.
A man on a mission Bandela B. Mgoqi, founder and CEO of Chek Africa Holdings, took a leap of faith, leaving the pharmaceutical world to become an online entrepeneur. BBQ talks to him about his journey I n 2010 when Bandela was doing his internship as a pharmacist he came across the movie, The Social Network, which portrays the founding of Facebook. The movie captivated and fascinated him. He also happened to discover that the founder was a university drop-out and a self- made billionaire at the age of 23. That was a wow moment for me, says Bandela. I just knew there was something remarkable about the internet; something I had to persue. When BBQ spoke to Bandela about his back- ground in entrepreneurship and the things that inuenced him most, he enthused: From the beginning, I had entrepreneurship in my blood. Both my parents did not have an opportunity to attend school and consequently had to utilize whatever they had to make a living. My father was a bus driver turned taxi owner, while my mother was a street vendor who sold fruit. In the early 90s, they opened a liquor store and a supermarket, which are still operating today. Throughout my childhood, I grew up in that business environment, helping where I could. That experience moulded me into the entrepre- neur I am today. He sums up the personal characteristics that proved most valuable in building his technol- ogy companies: Passion! Having passion for what I do keeps me on cloud nine. It fuels my creativity for creating products or services and allows me an opportunity to solve problems and make life easier, cheaper and better for people. Self-belief and condence are other key personal traits that I have found to be valu- able. As the founder, I am the ultimate brand ambassador.That means I need to believe in the products I offer before others can believe in them. Starting a business is like running a comrades marathon ve times a week. Also, having vision, tenacity and being exible has helped me to keep going, even during tough times. But I must add that the words of Steve Jobs, delivered in a speech in Stanford in 2005, inspired me incredibly: Your time is limited, so dont waste it living someone elses life. Dont be trapped by dogma which is living with the results of other peoples thinking. Dont let the noise of others opinions drown out your own inner voice. And most important, have the cour- age to follow your heart and intuition. They somehow already know what you truly want to become. Everything else is secondary. Asked about the challenges and difculties he faces, he answers: One of my challenges is nance, mainly managing overhead costs. I have managed to overcome some of the difculties by embracing technology, assessing business needs over wants, by going green and out-sourcing man-power. Although Bandela has been described as a serial internet entrepreneur, he manages to hold back on exciting new ideas while his cur- rent projects are on the go. I try not to spread myself too thin and I dont take all the opportunities that come my way, even if my gut reaction tells me to do so. I only tend to be serial about excit- ing new ideas, products and services if and when I have assessed their potential impact on consumers. Bandela goes on to talk about the opportuni- ties for online companies as the country and the continent expands with ever-growing smartphone and online access. And he speaks a little about his philosophy around the efcacy of good websites. There are many opportunities for companies online as the market is not yet saturated, due to the fact that the internet is slowly penetrat- ing the continent and consequently there is a huge untapped market. With this ever-growing internet access through mobile phones, tech- based companies have an opportunity to tap in to various lucrative markets such as mobile money, e-commerce, leapfrog tech and more. When we build our websites, we ensure that they achieve three things: that the plat- form works as intended with no steep learning curves; that it provides solutions to existing problems: and, that it improves the quality of peoples lives. We incorporate factors such as superior effectiveness, better value for money and greater convenience. One thing that has been a challenge to me has been to keep up with marketing trends and strategies. To be known and noticed online, I have to get the attention of the pro- spective audience and get them interested in the product I am offering. In addition to that, I also need to measure and analyse the value of the efforts I put in to measure the return on investment. I have not invested a lot on non-digital forms of marketing, but intend to in the near future. Asked about the importance of strategic partners or investors, he responds: Strategic partnerships are imperative, but I am not a fan of investors at the early stages of online growth. To a certain extent, for me, the risks outweigh the benets. I prefer to put my own dent on the market by charting my own path through Bandela B. Mgoqi, founder and CEO of Chek Africa Holdings bootstrapping. Being capital-constrained drives me to be more creative and helps me to gure out how to be more resourceful. Speaking of resourcefulness, we ask him what inspired his choice of the name CHEK. The main reason people use the internet is when they want to chek for information or anyhing else. For me, the name CHEK has enough panache for my businesses, as it is associated with searching for something, which is exactly what the ecosystem of our sites offer in a simplied manner. Also, the name is short, unique and self-explanatiry; it creates a positive image and, as a logo, has visual appeal. And your plans for the future? My Father once told me that Whatever your dream is, goal mapping can help you achieve it the most. And I have a dream to change Africa for the better. To accomplish this, I had to set goals that are beyond my reach. Because the company is the main vehicle in the ultimate execution of these goals they had to be part of the companys DNA in order for it to remain focused on its core and its consistent understanding of what it is truly about. www.bbqonline.co.za | 87 86 | www.bbqonline.co.za A DV E R T OR I A L A DV E R T OR I A L