Speaking at a Heavy Chef event in Johannesburg recently about her life and business success, Sygnia CEO Magda Wierzycka advised never look at imitating what a competitor was doing, as it constrained one’s thinking. Rather, she suggested, design your own products or services – those that make sense to you. The more you look at what competitors are doing, the more you will try to emulate their activities, she said. “Don’t push yourself into areas where there is already significant competition; instead, look for areas where competition is least.”  Wierzycka founded Sygnia, a financial services company that provides asset management, stockbroking and administration services, with the intention of disrupting the financial services sector. “We researched the financial services sector and looked for what we could do differently. Financial services is typically an industry that uses jargon to disguise the high fees it charges. We decided to simplify our offering, use plain English, provide ...

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