There is a trend that is increasingly being adopted by South African entrepreneurs – that of the ‘Slasher’.
These are individuals who balance more than one job – namely formal employment and their entrepreneurial pursuits.
Speaking at the launch of this year’s Old Mutual Savings and Investment Monitor survey, Lynette Nicholson, research manager at Old Mutual said the findings of their online survey show that a number of entrepreneurs are also managing a full-time job, and that their salaries from being employed are often their only viable source of funding.
The findings are based on the responses of 943 working respondents.
“Of those who claim to be fully self-employed entrepreneurs, about 68% said they had funded their own business by using their own savings and investments,” she says.
The survey unpacks some other interesting insights about ‘Slashers’ in South Africa, this includes that their second jobs or businesses range from event planning to manicuring, making costume jewellery, among others.
The majority of these individuals also appear to be coping well with their dual jobs, with an overwhelming 63% of respondents stating that they enjoy having more than one job, however, 42% stated that they don’t really have the time for more than one job, but persevere because they need the money; only 17% of the respondents stated that having more than one job has impacted their family life/personal life negatively, with 74% saying that they don’t find it too difficult to manage more than one job.
A Balancing Act
Surprisingly, the survey also found that 24% of the respondents said what they had chosen as a side hustle differed from their primary job.
Vuyisile Zondi falls within this demographic, she is the founder of Corium Naturals Skincare and also works full-time as a management consultant for a Johannesburg-based management consulting firm.
“I find that my nine to five job is complementary to my role as an entrepreneur as both require me to think strategically and operationally,” says Zondi.
To find out how entrepreneurs manage to balance creative pursuits with a nine to five, we compare the experiences of 2 ‘Slashers’ who are successfully juggling both.
KATLEGO MALATJI, founder of Homecoming Events
Malatji is an entertainment law consultant for artists, record labels, models and athletes. His job as a consultant involves contract drafting and negotiations, dispute resolution, trademark protection and industry-specific compliance.
Malatji is also the co-founder of an events planning and marketing business, Homecoming Events. In 2016 he together with his partner, Neo Moela, launched ‘Homecoming Africa’, a music, culture and lifestyle festival series which in its inaugural year featured American hip-hop artist O.T. Genasis and Nigerian singer Wizkid, among other local musicians.
VUYISILE ZONDI, founder of Corium Naturals Skincare
Zondi has feet both in the beauty industry and in the very corporate world of management consulting.
As founder of a beauty brand, her focus is on offering her clients a natural alternative to traditional beauty products (they manufacture soap bars, body butters, clay masks, overnight serums and exfoliating scrubs); while her job as a management consultant sees her assisting businesses with their improvement related needs.
ON THE DECISION TO DO BOTH
‘Spotting A Gap’ – Homecoming exposed me to numerous people in the entertainment space who didn’t have the requisite legal support or felt that they could not afford it. This happened at a time when I was completing my law articles with a reputable firm, the idea to fill the vacuum in this space consumed me, and the rest is history. – Katlego Malatji
‘Complementary’ – I find that my nine to five job is complementary to my role as an entrepreneur as both require me to think strategically and operationally. – Vuyisile Zondi
ON WHAT IT TAKES TO JUGGLE BOTH
‘Priorities’ – Discipline, time management and prioritising. – Katlego Malatji
‘Discipline’ – To pace myself, and how to manage my time so that there is no overflow from one part to the other. It’s important to be disciplined, and to be realistic about your time and your commitments. – Vuyisile Zondi
ON HOW THEIR JOBS HAVE INFLUENCED THEM AS ENTREPRENEURS
‘Two Journeys’ – It’s kept me poorer for far longer than I had expected. Entrepreneurship is a great act of sacrifice in numerous respects so pursuing two journeys at the same time has harnessed the concept of delayed gratification. – Katlego Malatji
‘Opposite But Complementary’ – I find that lessons which I learn in my nine to five can be easily transferred to my own business as well. – Vuyisile Zondi