BACKSTORY: Harry Scherzer of Future Forex

Harry Scherzer, CEO of Future Forex

What’s your top tip for doing a deal? 

My top tip, based on Simon Sinek’s philosophy, is “start with why”. In every client interaction, you shouldn’t focus merely on what you do, but rather why you do it. By putting yourself in your clients’ shoes, understanding the underlying purpose of what they’re looking for, and aligning your own goals with their core needs, you’re able to create solutions that are effective and impactful.

What was your first job? 

After obtaining a degree in actuarial science from the University of Cape Town in 2016, I started my career as a senior actuarial associate at EY.

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

During university, I started a private tutoring business, making about R8,500 a month. The income supported my university life and allowed me to save enough to take my then girlfriend on a European cruise. So when I got my first official pay cheque, I was able to put the majority of it into savings.

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

The importance of balancing ambition with patience. When I first started my career, I was eager to achieve my goals as quickly as possible, but what I’ve come to realise is that lasting success doesn’t happen overnight. Patience allows you to build a solid foundation, to take the time to really understand the nuances of your industry, and to develop connections that will guide you throughout your career.

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

Job creation and economic opportunities for the youth, who are our future leaders, innovators and changemakers. Promoting entrepreneurship and investing in their upskilling would reduce unemployment and drive innovation and economic growth.

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

I’m an avid chess player. The discipline of analysing positions, anticipating opponents’ moves and thinking multiple steps ahead has been instrumental in my approach professionally too.

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

I bought into bitcoin early on. My biggest mistake was selling a significant portion of my holdings prematurely. This was in 2017 and I was uncertain about the future of bitcoin and feared it might be a bubble on the verge of bursting. I underestimated its potential. 

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

Building a strong, dedicated, and talented team at Future Forex has been the most rewarding investment for me. You could argue that timing and luck often have an influence when building a company, but I believe that the success of Future Forex is a result of the innovation, intelligence and dedication of the employees who drive our vision forward.

What’s the best book you’ve read recently and why did you like it? 

I found Steven Bartlett’s The Diary of a CEO particularly enjoyable. It offers an honest and introspective look into the day-to-day life of a CEO, blending personal anecdotes with professional wisdom. I appreciated his genuine reflection on leadership struggles and triumphs and his practical lessons on navigating the complexities of managing a company. 

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

The importance of trusting others and delegating responsibilities. It can be tempting to try to do everything yourself, but true growth, both personally and within an organisation, comes from offering others the opportunity to take on key roles.

What phrase or bit of jargon irks you most? 

“It is what it is.” It suggests a passive acceptance of circumstances rather than developing an actionable plan to challenge them. In business there’s always room to innovate or improve. Rather than responding to a challenge with “It is what it is”, we should be asking: “How can this be done better?”

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

It’s never too late to change your direction in life if it means you’re staying true to yourself.

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

I would foster closer collaboration between the government and private sector. The solutions and expertise that can help address our most pressing challenges are within our borders already, we just need to leverage this effectively and have the right people in the right places.