Exporters Club – 19th of July 2017
Topic: ‘”To build and to buy”
The critical success factors needed to grow your FMCG business into the Exports market- Hosted and presented by the C.E.O of KWV Mr Boyce Lloyd.
The setting was in Paarl at the KWV Sensorium and the company is celebrating its 99th year of existence. The sensorium is filled with a rich display of art and history that depicts every stride that the company along with the Paarl citizens went through to create the dynasty that it is today. At present it is successfully run under the watchful eye of Mr Boyce Lloyd and he gave us a few kernels of business knowledge as to what his journey was and to how the company of KWV is running so successfully, even in the volatile market it finds itself in. these points are as follows:
- Lloyd states that when in business you need to understand your competitive advantage.
- He reckons that doing comprehensive research on your target market, the consumer and the seller will help you to understand what it is that the needs and wants are.
- An interpersonal relationship with the 3 is vital to making a success of your business
- With regards to imports and exports, Lloyd states that you have to physically go to the place that you are wanting to set up shop and get to know the culture and the people.
- He states that when trading abroad it is best to “break bread” with the locals and to adopt the attitude of when in Rome, do as the Romans do in terms of doing business. Meaning get a native partner that can help you navigate through the local challenges and communities.
- He states that another important aspect of having a successful business is that you must know your partners.
- Lloyd also states that South Africans are resilient and that they are good at adapting to current challenges and foreseeing future complications
- Lloyd states that because South Africans has adopted the attitude of also making a plan whether it be plan B or C that is what makes us different.
- In terms of the markets Lloyd expresses that the yes even though the market is highly volatile and unpredictable, the safest option for them at KWV is having a forward lock in plan whereby they have set rates and tariffs for predictability in times of uncertain markets.
Lloyd comes from the background of being an advisor to the previous finance minister; Mr Trevor Manual, and he boast an impressive resume in finance and running a number of highly successful businesses both locally and internationally.
The event was organized by the Exporters Club and there were 3 wine tasting day prizes that members of the audience won. Guest included freight forwarders and shipping line representative alike. There were also members that was interest in imports and exports and of course the staff of KWV as well.
The host KWV had a setup of wine and spirit tables whereby the guest could sample any wine or spirit of choice. The food was a delicious display of mini finger foods that was absolutely exquisite.
Definitely interesting and worthwhile going to.