'Have A Purpose Greater Than Yourself' - Peggy-Sue Khumalo
And 5 other entrepreneurship lessons from the businesswoman
Head of Public Sector and Black Business Portfolio for Investec Group and Investec Corporate and Institutional Banking, Peggy-Sue Khumalo, recently shared with a full house of entrepreneurs at the To The Point session, pointers to help them set achievable business targets and objectives.
"Thriving small businesses are essential to create the jobs and the growth we need for this country. We must support small business to help achieve this growth," says Khumalo.
Her achievements haven’t come easy, says Khumalo. It has taken a lifetime of pursuing her goals with heaps of hard work, pure determination, putting her best foot forward and making the most of the support and opportunities she has received from mentors.
Khumalo knows what it means to start from humble beginnings. She describes herself as a farm girl from Newcastle, where she grew up in a single parent home. After finishing school and not knowing what she wanted to do, but being aware that the tertiary education she desired was far beyond the financial reach of her mother, she worked with her mother as a domestic worker for two years.
Following her reign as Miss South Africa, Khumalo earned a BA Hons (Economics & Political Science) and an MSc (Economics) from the University of Manchester, UK. Then, she went on to join Investec Bank UK in its asset management division. Returning to South Africa, she joined Investec Corporate and Institutional Banking (ICIB) progressing to her current position over a 13-year banking career with Investec.
Here are Khumalo's 6 ‘Ps’ for achieving real growth and success.
Have a purpose greater than yourself. Serve others. Make a difference.
Your purpose becomes your passion. Whatever it is – children, community, family – it is what gets you out of bed every morning and keeps you moving forward, through good times and bad.
Never give up. Life is full of surprises. Don’t quit. Have a zest for life. In South Africa, many of our parents had nothing but made it work. Be careful of becoming complacent or dependent on others. Challenge others who have fallen into this trap.
We get impatient too quickly. Be patient; not everything happens in the time you want it to. This is an unbelievably important quality.
Give your best. If you want something to happen, get on with it and do the job. This isn’t only about work, but also about work-life balance. There isn’t one perfect balance. It is all about the integration of all aspects of your life.
People and relationships are everything. You are who you are because of the people in your life. You are also accountable to these people. Serve those who matter to you.