Using cash flow drawn from a business to fund personal expenses creates a leak that eventually sinks a big ship. This simple yet profound wisdom is the advice restaurateur and publisher Monwabisi Thethe shared as the guest entrepreneur at a summit this month staged by the I Am an Entrepreneur organisation with the theme "franchising 101: buying one, building one". Thethe, who was born in KwaThema on the East Rand, has a business portfolio that ranges from food and beverages to media and publishing, property investment and financial services. He is the founder and publisher of Blaque Life Quarterly magazine and a franchisee of Mugg & Bean, and also owns an advertising agency that boasts a number of blue-chip companies as clients."When I left the corporate world and wanted to open my first franchise, they asked me if I could survive the first 1,000 days without a regular salary," he said."The first three years are critical to the survival of any business, and it is during t...
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