Patrice Motsepe reveals financial management & business ideas to become a millionaire in Africa #Finance

the two things I want to over emphasize is each one of the young people who are here today every single one of the people who are here today you you have to start thinking in terms of certain dreams certain wishes certain goals whether it’s career objectives I want to be a good I want

to be a doctor I want to be a lawyer I want to be a businessman the critical issue that all of us must leave here today is the total belief absolute belief that through hard work determination perseverance you will indeed succeed you will realize every single one of you in terms of where you want

to go what you want to achieve the the most successful people in the world if you listen to their stories they are like all of you poor background humble beginnings but with the huge amount of determination and it has to do with hard work so so it’s critically important that we we leave here

today with an understanding that uh this country this continent I mean we see this all the time I see this all the time whether it’s in New York or London or Los Angeles or in China or Brazil or India that young people like you keep go to university because it starts with education and and uh

and many of them start off by thinking I either want to be an employee because I have the capacity to employ other people and others pursue a career but the critical thing is we’ve got 300 million young people on the African continent between the ages of 15 and 25. we have to give a future

creative future for every single one of them because if those young people do not have a future the African continent doesn’t have a future so my grandfather was an entrepreneur he owned a shop a business in a rural area where even today still there’s no running water my father was an

entrepreneur my father used to wake us up five o’clock in the morning we would go to the Pretoria Market where because we had a fruit shop as well and buy fruits and vegetables and I used to go to Metro and later macro and we used to go to all of these shops buy goods and services so I I grew

up in an entrepreneurial family and but the big problem I remember every time when we came back from boarding school because we went to a boarding school very very far from home and when we came back from boarding school I told my father that you know many of the young boys I think I was seven or

eight many of the young boys when we come back from home they tell me they went to Japan because deben was the place to be at um and they say they went on holiday or they visited their uncle and I said but we never go on holiday I mean when I come from boarding school I have to stand behind the

counter from if I don’t go to the market and do some of the buy which we like because it will go outside I have to stand behind the counter from five o’clock in the morning when people go to work and then until 12 o’clock at night when they come back from work so I said I

don’t want to spend the rest of my life standing behind the counter it was stressful so I started looking for careers and I thought should I become a doctor I didn’t like the sight of blood so I said hey I’ll be a hopeless and that’s how I ended up with law and became very

passionate about law but also you must understand we were different generation 100 we have a generation where you know my wife and I had to get permission from government to go to this University because during those days black people were not allowed to go to what was the white University so we

had to write and ask for permission and you know she went she went to medical school I went to wits but of course before that I went to what was Swaziland then which is now called aswatini and it was a a very exciting learning period Then I enjoyed law but I always knew that entrepreneurship

starting businesses building businesses getting Partnerships and the issue that I also learned is you know two things at the young age I was told the customer is always right the customer is always right so I would stand behind accountant somebody would say I want Coca-Cola and I’ll say to

them why don’t you have Pepsi no I want Coca-Cola now they tasted the same for me but it taught me that follow the the desires the preferences of the customers and and what is more important is and also focus on Profitability critically critically important what we do through

the muncipe foundation is part of the duty we have as a family we are made we are what we are as a family because of thousands and thousands of people and millions of people of this country but many who who believed in us who supported us and there were times when you know when I went to America to

work in America uh you know I was amazed because there were people in the for my practice with who who said but you know we think you’ve got special qualities and I look behind me to see who are they talking about you know and they said no no but you’ve got potential you’re a

bride and the firm I was with so all of us must continue to give every single young person in this country give them a sense of confidence a sense of self-belief a sense of hope and and I’m I’ve got no doubt that many of these young people will be amongst the most successful

entrepreneurs and those who want to pursue careers will be among the most successful careers that this country and this continent has ever seen yeah when I started my businesses we bought mines that everybody said but I mean how can this guy buy Minds that are unProfitable that are

marginal that are old that are that are being closed and the president of the Mine Workers they had about 350 000 workers at the time he’s a very good friend he then went in in the newspapers the headline of the newspapers I know because the pressure showed me the headline of the papers were

Patrice motzepe buys dead dogs dead dogs and but we knew what you were doing we knew that we had a a method of running this business at the heart of which was a partnership with the workers and we could not pay them on the big mining companies were paying that we’re paying them a little bit

less but we guarantee them assure them that based on Profitability they would change the Profits and they would make more money than than what they earned previously so in conclusion there are times when you are trying to start a business or pursue a career and you

are starting it and it’s failing or not only is it failing many people around you and people who care for you say but this thing is going away you shouldn’t do that because others tried it and it didn’t succeed my message is keep looking at it persevere because the world is full

of exceptionally successful people who despite problems and difficulties and failures kept at it and succeeded over over time so I’m I’m absolutely confident that keep hope alive be optimistic stay positive believe in yourself and believe in the capacity of of what you are pursuing and

the potential for what you’re pursuing to succeed you’ve got to move from thinking and planning and preparing to starting to implementing to making things happen and don’t get discouraged if you fail I I’ve had so many failures in my life and have made so many mistakes and I

always pray that I you know that I don’t make the same mistake again because hopefully when you make a mistake you want to learn from that mistake but the key issues and I know that I’m gonna make many many other mistakes in future but that should never discourage you right you’ve

got to have a sense of self-belief and self-confidence and just just open that restaurant open start that app start that grocery store started agricultural business you want to start with and get going you want to start a new business and they’ll say to you it will not succeed because

there’s so much competition there are companies that have been there longer than you more money more infrastructure and more resources but if you look at the most successful entrepreneurs but also the most successful professionals whether it’s doctors lawyers scientists engineers

teachers nurses the the the common factor is uh determination to work hard to sacrifice and to pursue the Fulfillment of their dreams without a doubt uh we have to live a good life that’s very important and part of a good life is we’ve got to earn good money and and the key to working

good money earning good money you know when you are young starts with education right you know I remember when I was a student during the year when everybody else was studying I was at times going to parties not very smart because you should be studying and when the exam comes a few months before

the exam when those who’ve been working are sleeping I would be up at night because I’ve got to catch up so so the key issue is that every one of us here today every one of our young people the most important thing for now and where you are now is get an education and study the most

important thing is to be happy at what you’re doing that there are there are many I’ll give you an example there’s a a professor who studied with me at University loss of Integrity good person very loyal and hardworking and and five years after I started African rainbow minerals I

went to him and I said how much did you earn and he said to me I’m earning a uh five seven thousand dollars a month I said whoa uh how are you doing with the seven thousand dollars you said I’m I would like more money but the seven thousand is what I and I said to him I will pay you 14

000. dollars a month and in fact I said I’ll pay you twenty thousand dollars a month come and work with me well let me tell you what is even more important and and he said to me I don’t want to I want you to keep our conversation just between the two of us what he taught me he said to

me you know Patrice I’ve been a lecturer for the last 20 years and I see these students who come to this University some very average some uninspired some don’t know you know their parents force them to come to University and and I work hard to make them special students excellent

students they said is that the the joy I get and the Fulfillment I get from seeing a a student who was undirected no ambition no hunger at the end of the year very committed hard-working enthusiastic about the future gives me so much fulfillment more fulfillment than the money I could get for the

more money right