Lebo Gunguluza is a South African entrepreneur, media mogul and motivational speaker with a net worth of 300 million rand ($19 million).
The entrepreneur comes from a poor home in Magxaki, Port Elizabeth. He made a life target to become a millionaire at the age of 25 but that did not work out. 2 years later that dream came to true.
He then became one of South Africa’s black and young self-made millionaires.
Lebo started his career from South African Broadcasting Corporation (SABC) radio. He worked with the radio and promoted African-language while at it.
Lebo Gunguluza also worked for a while with an advertising agency. Quitting the job, he began his entrepreneurial journey. He set up a media firm, Gunguluza Enterprises and Media (GEM).
Recently the millionaire launched an online TV channel.
“It is important to diversify especially with the world becoming a digital village.” – Gunguluza
From his personal experience, Lebo does not subscribe to the “hustle” mentality. He rather believes in the potential of the entrepreneur. Lebo discourages young business minds to desist from harboring that mind-set because of its inconsistencies.
“For me it’s very important to create entrepreneurs that are disciplined. Most entrepreneurs think entrepreneurship is about hustling. I don’t like the concept of hustling. You want quick cash. You don’t have a long-term view, you don’t build processes, disciplines.”
To drive the message home the South African millionaire, on December 12, 2012 launched the Izani 12-12-12 programme. The initiative is to recruit 12 entrepreneurs in 12 months to start 12 enterprises
“Entrepreneurship is not easy. There are just some people born to have it and others that are just pure employees.”
“Sometimes it’s all about the drive, the vision, the commitment. Some times they lose the hunger …and became more like my employees.”
Lebo Gunguluza is a judge of Mzansi Magic Dragons Den, where entrepreneurs pitch their business ideas to millionaires willing to invest cash. The contesting entrepreneurs could get an opportunity to be funded and mentored.
In his interview with CNBCAfrica, there are 3 “kings” every entrepreneur should bear in mind.
- Cash is king. Invest it wisely.
- Customer is king. Listen and meet their needs.
- Compliance is king. It helps you get paid quicker.