Thembani Biyam was appointed Head of Strategy & Monetisation for OLX South Africa when he was only 28. Now, as the Head of Growth at Orderin, one of the top three online food delivery companies in South Africa, he is responsible for strategic projects, product, design and growth marketing. He speaks about his best and worst investment experience.
What do you splurge on?
Definitely food; it’s the way to my heart. Then travel. Then tech toys, mostly photography and videography stuff like drones and stabilizer sticks for shooting vlogs. I love vlogging and editing for fun.
What has your worst investment blunder been?
My best and worst experience was investing in cryptocurrency. I got in late but bought some Bitcoin and Ethereum, and my investment grew about 350% in six months. Problem is, it crashed real quickly too. I got a lot of it out in time but lost a lot of it as well.
If you had to work but didn’t need the money, what would you choose to do?
Develop high school, university and professional basketball in South Africa to, at least, the European level. It’s the one thing I want to do before I die. I was an aspiring basketball player in high school but there were no proper structures in place to fully develop and the options for me to play professionally didn’t exist. I want that for my kids.
Where do you not mind waiting?
At home. If I am out in the world, I hate waiting for anything.
Fast food or home cooking?
Home cooking anytime. But fast food delivery every now and then doesn’t hurt (especially if it’s from Orderin).
Do you own anything you consider priceless?
Nothing material. More memories and perspectives.
Should people work for money or fulfilment?
Both. We all have to eat and do nice things, right? Those things cost hard-earned [money]. I would say, if you can continually optimize your career towards work that provides a combination of both, but increasingly nearing fulfilment versus money, that would be a win.
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What kind of debt is okay?
The type that is income generating is the ‘most’ okay. Robert Kiyosaki talks about debt that generates income like property loans, business loans, and even credit card used for positive income-generating activities. Then, there are scenarios where you may really need debt to bail you out, but hopefully, you have savings and liquid investments for that. Then, there is a grey area around things like cars, phones etc. For this category, I would say, just make sure you can afford it from your income.
Do you follow a strict budget?
I do my absolute best to. There are some ‘treat yourself’ months sprinkled in there.
Would you rather never be able to express yourself accurately or always have to say the exact truth?
I always have to say the exact truth. A world of never being able to be a little colorful and fun in expressing myself would be a dark world.
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How would you say the African fashion market is growing?
We are starting to understand the business of fashion; how to create brands that are custom-made in Africa, which is what we need to be doing and I think more than anything else, we need local customers supporting local designers. Another thing we need to start seeing is retailers supporting proudly ‘made in Africa’ or ‘made in South Africa’ products because that’s the only way for us to become game-changers in the fashion industry. When you look at big brands in the US, Europe or anywhere else in the world, they work very closely with their local designers.
Your most expensive indulgence?
Fabric! When I go to a fabric store, locally and internationally, I am like a kid in a candy store. I would rather buy expensive fabric different to whatever is available locally [South Africa], to make sure I can still sell that to my clients. When it comes to fabric, I go all out.
What do you mostly spend your money on?
Shoes and handbags.
How have you maintained your brand over the years?
The only way for us a brand to grow is to continue reinventing ourselves every season. As a designer or as an artist, you are only as good as your previous collection. Also, don’t try and compete with anyone, but do and believe what ‘brand David Tlale’ stands for. It happens that from time to time we keep serving them the same thing, like the white blouse. Our customers also want it, but the question is, how do we reinvent it for the next season or the next collection?
The significance of grooming young African designers…?
It is realizing they are the future…the ones going to take the fashion industry to the next level making sure we still have brands from Africa to the global markets…It is important to expose them to the business of fashion because when I grew up, no one took me by the hand and said ‘David, this is how the business of fashion is’. We were told we have to showcase at fashion week but beyond that or before that, what happens? Now we understand that.
What was your first job and what did you learn from it?
I was a lecturer at Vaal University for four and a half years, just before I graduated. I was able to buy my mom new furniture and I bought myself some sewing machines. I am proud to say that my investment into that machinery has made us who we are as David Tlale. We now have a studio and a brand that is growing.
How do you diversify your investments?
What we have done as David Tlale, over the years, is to build the brand and invest everything into this brand. We are now starting to look at other investment portfolios so we are able to get different sources of income, not only from clothing; making sure we invest in the brand, as a lifestyle brand, it be accessories, handbags or perfume. We are working on a lot of things because we want to ensure that in the next few years, David Tlale is a holistic fashion brand.
What is your most recent acquisition?
A printing machine. It is a huge investment we have made for our business making sure that we are able to look different in the industry and can print our [own] fabric.
Your worst investment decision?
To believe in someone who did not believe in my brand…I suffered dearly from it but today I am better. We are on the journey to reposition David Tlale, ensuring we become a luxury brand proudly made in South Africa by South Africans [and selling to] the international markets.
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