In this #AbsaSmallBizFriday interview, we find out more about Renate Jute, owner of Noble Prosperity, her business journey and why she believes South Africa should support small business.
Noble Prosperity was founded to help small business owners do what they do – just better.
Renate says that as a small business owner, your business is an extension of yourself, and while this is critical for the motivation and passion required to get – and keep – things running, this emotional bond can get in the way of making difficult and/or strategic decisions.
Noble Prosperity work alongside you and your existing team to objectively analyse your numbers and distil that information into actionable insights. By removing the emotion from your figures, Renate will you help you refine your systems and processes, making your business more efficient and cost-effective.
Why did you start your business?
In 2009 I established one of South Africa’s leading trust accounting firms. During the scale-up of that business, I encountered just about every challenge a business owner can face and developed an arsenal of first-hand experience to successfully navigate them.
After stepping back from the firm, I wanted to focus on helping others build successful businesses. Through Noble Prosperity I combine my vast experience in consulting, trust accounting and business optimisation, empowering entrepreneurs to make more informed decisions regarding the scale-up of their business by distilling their financials into a strategic, big picture foundation from which to work.
What do you love the most about running your business?
Most people would agree that financial professionals are a “different breed”: I’m no exception and am happiest when surrounded by numbers. In fact, I see my ability to find order in chaotic financials as a sort of superpower.
What I love the most about what I do, however, is that my superpower has a positive effect on the lives and businesses of others; that the patterns and trends I spot in the numbers can be leveraged to optimise that business.
To quote Spiderman’s Uncle Ben, “with great power comes great responsibility”, and helping someone optimise their business is a huge responsibility – one that I gladly accept!
What is one of the biggest lessons you have learnt on your business journey?
“Where there’s a will,” as the adage goes, “there’s a way.” If it is important enough you will find the money, the time, the resources – no excuses.
But it’s not enough to simply do this yourself: you need to surround yourself with like-minded individuals who can motivate you, keep you accountable, and provide objective insights and input when you face challenges.
What is your why? Why do you do what you do and what do you focus on to help you persevere and get through tough times?
I founded Noble Prosperity because I needed a way to transform my three main beliefs into a tangible, real-world difference. This is what gets me out of bed in the morning.
- You do better when you know better: Ask questions, keep learning, and fail forward. If possible, find a mentor.
- Leave it better than you found it: Create something that leaves a legacy – and a better economy and society at the same time!
- Pay it forward: Everyone is facing a challenge of some kind, so remember to be kind in all your dealings. Also, somewhere along the line, you got a break so, if and where possible, give someone else that opportunity by clearing the path (or a section of it) for them.
Noble Prosperity is in the very fortunate position to “pay it forward”, and I live my why through my podcast, articles, eBooks, presentations, and a monthly masterclass designed to help educate and empower business owners who do not yet have the resources for a full-scale optimisation.
Why should South Africa support small businesses now and beyond?
Local businesses are more likely to utilise the services of other local businesses, so when you support Small Business you’re also supporting the local community and stimulating the local economy.
Small Business is the backbone of the national economy. It creates and sustains employment, educates employees (and often pays for schooling and education of the children of employees), and develops a healthy, opportunity-filled ecosystem that has the potential to address inequality and tackle the devastating rate of unemployment.