Home Accounting and Auditing No victims allowed: Thapelo Motaung takes the lockdown by the horns

No victims allowed: Thapelo Motaung takes the lockdown by the horns

Thapelo Motaung, founder of New Minds Business Consulting, has come up with novel ways to counteract the effects of the Covid-19 lockdown

Saiba member Thapelo Motaung BAP(SA) realised some weeks ago that the Covid-19 lockdown was eating into the revenue of his clients. “If my clients don’t do well, then I don’t do well, so that was when I realised something had to be done about it,” he says. “About 70% of my clients were complaining that their revenue had taken a knock because of the lockdown.”

Using Facebook (and a Whatsapp group to be launched in the coming days), Motaung launched the Online Entrepreneur Survival Summit 2020 and started lining up a total of 24 speakers from different fields of expertise, and different parts of the country. The Summit goes live on 1 June 2020 and will feature one speaker every day for about 40 minutes, for a total of 24 days.

The motivation for the summit was a realisation that what will pull clients out of the slump is “hyper-connectivity” – building bigger networks of potential clients, and being exposed to some of the best strategic minds in the country.

“If it hadn’t been for the lockdown, I doubt I would ever be doing this,” says Motaung. “It has given all of us an opportunity to inspect ther way we do things, and see if we can’t come out of this lockdown in a stronger position than before we entered it. There is a saying: ‘You are eigher a victim or a victor’ and I am choosing to be a victor. This adversity has presented us with an opportunity to do things so radically different that we can either embrace it or let it slip by. For me, there was no choice. I decided to use this opportunity to expand my practice.”

Motaung is the founder of New Minds Business Consulting, which was formed six years ago. It now employs eight people, two of them interns, and provides a full suite of accounting services, from day-to-day accounting services, to tax planning, audit assurance (which it outsources) and business consulting. It also offers training as part of its business consulting services.

About 40% of its revenue comes from accounting, 30% of tax services and the balance from business consulting and market research.

Motaung is a firm believer in life-long career development. Apart from his BAP designation with Saiba, he is a e is reg general pracititoner with the SA Institute of Tax Practitioners (Sait) and is registered as a general business advisor with Institute of Business Advisors.

“Ongoing education and career development is essential,” he says. “One can never stop learning and improving one’s range of skills.”

Born in Qwa-Qwa, Motaung studied in Kwazulu-Natal and graduated with a diploma in financial accounting, then Bachelors degree in taxation, at the Durban University of Technology. He went on the complete his articles in Cape Town, while finishing an advanced diploma in accounting science with Unisa.”

As a word of advice for other accountants, Motaung says one has to think out of the box in times like these: “One cannot rely on the old way of doing things. You have to get creative, start building new networks of potential clients and get out there.”

And to help accountants do that, he is inviting them – free of charge – to join his Online Entrepreneur Survival Summit 2020, by going to the Facebook page: https://www.facebook.com/Mind-Think-Institute-110371333905301/