US sales guru Grant Cardone launches start-up hub in SA
- Florida-based sales expert, author, and reality TV host, Grant Cardone, has launched a start-up hub in Paarl.
- The goal of the 10X Hub programme in its first 18 months will be to have two sustainable businesses.
- He wants to offer mentorship to people who came from single parent households.
- For more stories go to www.BusinessInsider.co.za.
Florida-based sales expert, author, and reality TV host, Grant Cardone, wants to be the mentor he never had. When he started his first business after leaving collage, he discovered just how hard it was to be a business owner and realised he needed someone to turn to for advice.
Unfortunately for him, there was no one he could turn to for support. His father passed when he was just 10-years-old, and he realised he just did not need business advice but also someone to offer him guidance on how to live his life.
Cardone says the aftermath of his father’s death had a profound impact on him, as he saw how his mother struggled to cope financially in trying to support five children.
These experiences led him to start his own foundation, with the goal of not only providing support for start-up businesses but also to offer mentorship to people who came from single parent households.
Setting up in the winelands
All of this eventually led Cardone, who is best known for his book The 10x Rule: The Only Difference Between Success and Failure and hosting the Undercover Billionaire TV show, to supporting the 10X Hub programme in the townships of Mbekweni and Paarl East, in the Western Cape.
The aim of the programme, which is offered in partnership with local incubator, Labit Consulting, is to offer mentorship as well as business support in terms of business education videos.
The goal of the 10X Hub programme in its first 18 months will be to have two sustainable businesses created, 1,000 entrepreneurs trained, 100 jobs created, and have 350,000 signed up with access to Cardone’s educational material.
When asked why he launch this programme in South Africa, Cardone said it was brought to his attention by a member of staff, who had worked with Labit Consulting.
He also picked SA for a very personal reason.
“One of my great passions is to help kids without dads. All the negative metrics – school dropout rates, incarceration, unable to complete college, drug addiction – all those numbers go up drastically when there’s no father present.”
When he looked at the number of children growing up without a father in the home in SA, and in Paarl in particular, it was an easy choice for him to set up the first 10X Hub in the country.
Even though Cardone has never been to SA – he plans to visit when the Covid crisis subsides – he closely identifies with the country. He says where he grew up in the US was a lot like what SA is now, in that it was economically depressed and had an unemployment rate of about 25%.
How Cardone wants to help these budding entrepreneurs is very novel.
He aims to circumvent the current social and economic structures, that requires people to complete 12 years of schooling, then get a tertiary education, and possibly even having to get some work experience before starting their business.
If people followed this process, it could take up to 20 years before they are equipped to become an entrepreneur.
Cardone says though there is a place for formal education, his short training videos – on subjects like prospecting, sales, negotiation, closing, money and finances, and motivation – supplements it, by offering practical business advise they can use immediately.
The way he sees it, given the global developmental needs, the current way of developing entrepreneurs through the education system is too expensive and too time consuming.
“The school system is too slow to solve the poverty problem. If someone is staving, they don’t have 20 years to learn.”
Cardone now hopes the lessons he learned running his own businesses will not only get people out of poverty but also get them to live full happy lives.
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