Feature
Issue No. 32 - December/January
Meet our 2006 Fast Movers SA
by Mr Marcus Campbell
The process
BDO Chartered Accountants & Advisers asked more than 50 questions of our Fast Movers.
As we did last year, we talked to our Fast Movers to find out the secrets to their success. Of the people we spoke to, 96% were owners of the business.
We thank all of those who took time out of their busy schedules to speak with us and give us an insider's view of our 2006 Fast Movers SA. We appreciate your candour and willingness to share your experience.
The people behind the businesses
Our respondents ranged in age from their late 20s to mid-60s, with 75% born in the 1960s (56%) or 1940's (20%).
72% of respondents said they had founded the business, with 22% of them doing so on their own. Of the 28% who bought into an existing business, half of them did so in the past five years.
While only 7% of the people we spoke to were women, about 30% of all Fast Mover company owners (private companies) are female.
Like last year's group, while money is important, this year's Fast Movers aren't motivated by money alone. They are also motivated by a need for independence, passion for their industry, ambition to succeed, to be recognised, to create something different, or to be masters of their own destiny.
Only about 40% of this year's respondents said they were paid a commercial salary for their role (compared to a little over 50% in last year's group). Only one fast mover is paid above a commercial salary with the rest saying they received, on average, 40% below.
With success comes the ability to let someone else take care of the detail, right? It's true many of our Fast Movers have become more strategic, but work-life balance remains a challenge with almost 50% of Fast Movers saying they worked too much. The good news is 33% said work-life balance had improved in the past ...
