BACKSTORY: Richard Gray of Harcourts South Africa

What’s your one top tip for doing a deal?

Focus all your efforts on what will make the deal work or fail. So many good deals are derailed by egos, bluster and noise.

What was your first job?

Systems developer at Eskom in the late 1980s (when we had too much electricity).

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

It was R1,800. From what I remember, a few cases of Castle, some braai meat, petrol and rent — in that order. Then repaying money I owed my dad.  

What is the one thing you wish somebody had told you when you were starting out?

Perspective: look at the big picture. When you start working, you get fixated on your particular job and believe that it’s as important to everyone else as it is to you. 

If you could fix only one thing in South Africa, what would it be?

Eskom. It’s the biggest source of misery right now. Precious jobs are being lost, it’s costing us foreign investment and it’s hurting national resilience. It can be fixed; it needs bold and courageous leadership.  

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

Though I have been in leadership positions for over 20 years, I was never a prefect at school. Some leaders blossom later.  

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

About 18 years ago, I bought into a fractional ownership property in a fancy coastal resort without visiting the development. On my first visit, I realised it was nowhere near the beach, was miles from any airport and not attractive for holiday rentals. Needless to say, I sold it at a big loss.  

What’s the best investment you’ve ever made, and how much of it was due to luck?

Many years ago, after driving through the KwaZulu-Natal Midlands I saw that there was great potential for residential development, given the popular schools and growing tourist industry. I bought a piece of land, hung onto it for 18 months and doubled my money.

What’s the best book you’ve read in the past six months, and why did you like it?

The New Gold Standard: 5 Leadership Principles for Creating a Legendary Customer Experience Courtesy of the Ritz-Carlton Hotel Company by Joseph Michelli — a book about how the hotel creates the finest experience for its clients. It has some amazing practices and the lessons can be implemented in most industries.

What is the hardest life lesson you’ve learnt so far?

That you are at the mercy of macro forces far bigger than you. I was retrenched during the banking crisis in the early 2000s and when the global financial crisis hit in 2007/2008 and the property market came to a standstill, I had to get rid of very talented people at the property finance company I was with. The lesson is always to have a plan B, and accept that your best-laid plans will get wiped out from time to time.

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

That making the choice to have balance in life was a really good one. It has made me a far happier person. 

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

Be decisive and do what you know you need to do. First, Eskom. It can be sorted, but you have to be bold and courageous. Second, service delivery. Accountability is the only way to fix this. And third, education. Focus on getting people with practical skills coming out of our school and tertiary education systems.