Eric Edelstein

Tonight I was PRIVILEGED to listen, be inspired, motivated, learn and meet Dr Carnie Matheson. I have an oberservation & favour to ask of Dr Matheson:

The Favour: I don’t want you to fly down to Cape Town to mentor me! Rather, whenever it suits you, I’d like to fly up to JHB, and take you to your favourite restaurant. I’d be honoured if you would mentor me!

The Observation: You don’t have an online identity! I’ve done countless searches in google, linkedin and facebook for recognition of your name and accolades. If this is on purpose, you’ve done an amazing job. If not, my return favour for being mentored is to create your internet identity.

Dr Carnie Matheson started his adult life living in a Pantry, and then became a Financial Analyst with Nedbank over 35 years ago, and now describes himself as a GRAVE DANCER:

I take dying business’s and Resurrect them!

For 2 hours, Dr Carnie Matheson, kept us enthralled with real life stories relating to being a successful entrepreneur.

These are the GEMS I picked up:

• Be creative in charging - Dr Matheson got involved in consulting deals at no fixed hourly pay, and with expenses for his account, with reward only being paid for success. As a Corporate Finance Strategist he earned on one deal 20% of the increase in a listed companies share price for his involvement. If the share price didn’t move, he earned nothing. Due to his direct input, the share rose from R1 to R5!

• Find Hidden Talents in Staff - Dr Matheson’s gardener became a master builder

• Never Fire a Thief! Cure a Thief! - Dr Matheson caught his staff member stealing on at least 10 occasion’s & she still works for him! Why? He docked her pay with the cost of the theft, and she stopped stealing! (editors note - i’m not sure I agree with this one!!!)

• Maximise Team Spirit - Companies have up’s and down’s. The implementation of team spirit brings better results in good times, and lets you get through the bad times in one piece.

• Start meetings with questions - Dr Matheson emphasised that EVERYONE has value to add. It’s about harnessing the value. Don’t give your opinion first. Lets others have a chance to contribute.

• The FOUR essentials - If you can’t pay for them, become friendly with them - Accountant, Lawyer, Operations Expert, Mentor (editors note - nudge, nudge)

• The Bank Manager Play - become friendly with MORE than one bank manager and play them off against one another

• Multitask the Staff - you might not be able to afford enough staff to fill all the required positions! Never mind - get each of your staff to perform more than 1 role. When the chef’s at Dr Matheson’s company aren’t cooking, they’re painting the buildings!

• Building Relationships versus Strategic Relationships - choose your relationships carefully. It’s not about addictive networking

• The Multiple Mentor Mystery Game - it’s OKAY to have more than one mentor. Different mentor’s offer different skillsets to the entrepreneurs.

• When to Fire? - Lack of commitment. The End!