“Entrepreneurship is Not for the Faint-Hearted”, South African Investor, Tshepo Mosiedi says
Tshepo M. Mosiedi is an award-winning entrepreneur, investor and an accountant by profession. He is the founder, director, and chief executive officer of TMMBS Conglomerate (Pty) Ltd, a group of company that seeks to disrupt the professional and financial services industry in Africa as it is an oligopoly market with a harsh entry barrier. He is also the director and managing partner of TMMBS incorporated, a leading business consultancy firm which is a 100% owned subsidiary of TMMBS Conglomerate (Pty) Ltd. The firm services top African brands such as Bathu, Maxhosa, Pick n Pay Market stores.
Tshepo has been featured on multiple media platforms such as SA FM, Power FM, 702 Talk, Metro FM, SABC News, Newzroom Africa, Business day report, etc.
In 2017, he was nominated as the Young Entrepreneur of the year by Youth Achievers Awards and was also invited by the South African Institute of Tax Professional to a round table discussion focusing on transformation within the tax sector.
Tshepo’s mantra in life is OLA – Observe, Learn and Adapt. He shares valuable insights in this interview with Business Elites Africa.
Q: How did you discover your vision or what led you into this line of business?
A : At age 16, I fell in love with entrepreneurship. I started my first business which was dustbin cleaning. I would collect my neighbours dustbins every Wednesday after school, wash them, polish them and then deliver the dustbins house to house. I was charging R10 per dustbin and I was servicing 25 households. In a day I made R250 and in a month I made R1000. My favourite months were the once that had 5 Wednesdays because I knew I had an extra R250. Then and there, my love for entrepreneurship grew because I knew people who were earning R250 a week and I was making that money in a day whilst still studying.
Q: What’s the one thing you wish you’d known before you started in business?
A: Business is tough! This career path of entrepreneurship is not for the faint-hearted and if you don’t respect it, it will humble you. There’s no guaranteed income, the worst part is that at a start-up phase you spend more than you receive and you can’t relax because it’s too competitive.
Q: Describe your company- name, services/ products, other information you would like to provide.
A: Company name: TMMBS Conglomerate (Pty) Ltd t/a TMMBS Services: Accounting, Auditing, Taxation, Advisory, and Human resource services. Our business consultancy firm helps companies with compliance and growth. We have highly qualified consultants registered with the South African Institute of Chartered Accountants, South African Institute of Business Accountants and South African Institute of Tax Professionals.
Q: How did you get started- business plan, capital sourcing, prior experience, bmentorships, etc.?
A: For me, it was prior experience and mentorship. I was fortunate that I didn’t need capital to start my business because I was rendering a service and I had the knowledge to do it. After matriculating, I took a gap year and I got a 1-year job as a bookkeeper because my results were excellent. When I started my first year at University I also got employed by a constr uction company to be their bookkeeper and I also started to assist another company from my township with bookkeeping and business development services as there was a demand for such services.
Read the rest of the interview in our digital magazine here: Find it on pages 44 and 45.
Editor’s Note: This interview was originally conducted by Victor Oluwole.
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