BACKSTORY: Michael Dorn of RT group

What’s your top tip for doing a deal?

The strategy and numbers of a deal are absolutely important but a deal, and its successful implementation, is driven by the people involved and invested in the success of the business.

What was your first job?

I worked at a local car dealer in the car-wash department, and was fired after two weeks. I spent too much time making sure each car was 100% clean, which reduced the efficiency outputs required for the job.

How much was your first pay cheque and how did you spend it?

I was a bank clerk so I earned €500. I paid most of the money to the bank for the loan repayment on my first car.  The rest went to my parents for my rent and food.

What do you wish somebody had told you when you were starting out?

Don’t be afraid, and have fun. I grew up in a traditional environment where job security was more important than self-realisation.

If you could fix one thing in SA, what would it be?

Eskom.

What’s the most interesting thing about you that people don’t know?

My personal passion is the ocean. I dedicate most of my private life to the ocean and water conservation.

What’s the worst investment mistake you’ve made?

Ignoring my inner voice, gut feeling and closest advisers when I bought a business from people with whom I did not have a genuine, authentic and shared-value connection.

Best investment you’ve ever made? And how much was due to luck?

To turn around the business I should never have purchased. The initial setbacks allowed me to re-think the process and this led me to new ideas. I founded the RT group and, most importantly, it gave me the chance to connect and work with people who share my values and vision.

Hardest life lesson you’ve learnt so far?

It doesn’t matter how good your plan is, a plan is just a plan and the reality is different. You must constantly and pro-actively adapt to stay relevant.

What is something you would go back and tell your younger self that would impress them?

You will be a citizen of the world. In less than 25 years you will have visited and worked in more than 50 countries.

Was there ever a point at which you wanted to trade it all in for a different career? If so, what would that career be?

I initially wanted to become a doctor,  then a marketer and ended up in the restructuring and turnaround industry. The common denominator in all three professions is people. I always wanted to work with people.

If you were Cyril Ramaphosa, what would you change, or do, tomorrow? 

It’s difficult to change one thing, but my wish would be to put the people first and leverage the big opportunities we have in this beautiful country.