The average lifespan of a British boy band according to The Independent Newsletter is six years. That’s longer than many marriages and certainly most business relationships. Let’s face it, bands are generally built for a good time rather than a long time – except The Rolling Stones which have achieved both.
In business, the Nando’s triumvirate of the Brozin/Duarte/Enthoven 35 – year tie up is a real outlier. As we discussed in Episode One of the Genius podcast, the endurance of that relationship was based on mutual trust and respect.
They have just cracked the ten year mark – and the four founders of Yoco are also determined to keep their partnership solid.
Katlego Maphai is the CEO – you will find our full discussion here – it was he who brought the other three together to form Yoco. He is the common thread that connects the others. Katlego had been in aftercare with Lungisa Masthoba and connected again at university, had worked with Bradley Wattruss and also with Carl Wazen.
He figured they would all get along and introduced them to one another. Even before they came up with a business idea, they knew they wanted to work on something together based on a shared belief that all small businesses should be given a crack at success.
Ten years in and three rounds of capital raises later, the four are still on the same team.
By being absolutely cognisant of the fact that they are four individuals who may see most of the world in the same way and have a common value set but also understanding that they are all individuals who have a life outside of work and that can put numerous stresses and strains on any of them at any one time. When life happens, as it will and does, the others rally round, no questions asked, in the knowledge that their team mates would do the same for them.
Should calamity strike, there will be back up.
Sure, the power of Yoco is in the 350 000 devices delivered to market so far, the power is in the ease of use of the back up business systems software which enables start ups to better run and forecast their numbers – but the real success is a dynamic leadership team keeping each other accountable while allowing life to happen around them.