3 Lessons we can learn from the Rugby World Cup.
We are very proud of Rassie, Siya and the rest of the team and coaching staff on being crowned as Rugby World Cup champions and bringing the William Webb Ellis Trophy home for the 3rd time. It is with immense pride that we welcome them home and thank them for what they did for South Africa as a nation.
However, when the dust has settled and the euphoria died down, there are a few lessons that should stick with us, lessons we can take with us, into our workplace and use for ourselves to become world champions in our field of expertise.
1. Join the Modern World
On numerous occasions throughout the Rugby World cup, journalists and the media would conduct interviews and ask the coaches of the respective teams why they had made the decisions they had and questioned their game plan in tactics. Three coaches in particular in Rassie Erasmus, Eddie Jones and Jamie Joseph embraced the modern game and used unusual tactics and often questionable team selections and game plans to prove this point. At one rather humorous interview, Eddie Jones was asked whether he felt that his decision to drop Ford has been vindicated, where Eddie even invited the media to “Join the Modern game” with them.
(Watch it here: https://www.rugbyworldcup.com/video/518092)
In whichever industry we operate, we must be aware of that we are living in a fast pace world with an ever-changing environment. We must know that if we are not constantly changing, we are falling behind. As the saying goes: “You are either disrupting or being disrupted”
At Bovest we embrace change. The Financial Services Conduct Authority (FSCA) is on a continuous mission to stricken financial regulations and enhance the professionalism of our industry. We welcome this and will work with the authorities to ensure our profession reach higher standards.
We make use of technology in various capacities, especially when communicating with our clients, both locally and abroad.
We also know that in the modern era, information is available at the click of a button and therefore the advisors’ role has considerably changed from a role of informing to one on that is solution-driven.
2. Embrace teamwork
Rassie made two exceptionally good tactical team selections which changed the whole team spirit and culture within the Bok camp. Both of them in the hooker position.
Firstly’ he picked Schalk Brits as the 3rd hooker to go to Japan. This had a lot less to do with Schalk being the 3rd best in the country, but a lot more with the other qualities he possesses of. He knew he wasn’t going to play Malcolm or Bongi out of the team and therefore didn’t need to compete or prove himself at each practice. Instead, he was seen smiling on every picture and just loved his time in Japan. He played the role of the ‘Older and more experienced’ brother, trying to get the best out of the youngsters and keeping the spirits high and it worked like a charm.
The other bold move Rassie made was replacing the best hooker in the world for the past 3 years, Malcolm Marx, by a more, in form Bongi Mbonambi. Besides just the change at hooker, it was a very strong signal to the rest of the team that no one’s place is secure, and the best players will play, end of story. Something that Rassie’s predecessors hadn’t had the guts to do.
Likewise, teamwork within the workplace is becoming more and more essential. With an overload of information, it is nearly impossible to operate as a lone ranger, trying to do everything alone. It is the quality of the members and clarity of each person’s role that will determine the coherence and success.
At Bovest we assembled a team, each with his own area of expertise to ensure that our clients get professional, comprehensive service in all the areas of wealth management in order to:
Save them time
Time is the one commodity that we will never get back, therefore we strive to not only save our clients’ money but also time. We do this by managing and providing feedback on their investments, advice and generate a professional will, source and compare short- and long-term insurance quotes and advising on the best suitable medical aid option.
Maximize Tax efficiency
With two qualified tax practitioners, we incorporate tax planning with financial planning to ensure our clients pay as low tax as legally possible.
Having Bovest take care of all your financial needs it will result in lower costs and depending on the size of your investment portfolio, we will waive costs completely on your tax and will planning.
Peace of mind
Knowing that you have an entire team looking after your portfolio will give you the peace of mind that someone will always be available to assist and that you will receive the combined knowledge of an entire team as opposed to one advisor.
World Class standard
Bovest is in the final stages to qualify as an FPI Professional approved Practise. This is a highly sort after designation that less than 15 firms in the country have. We also ensure that our advisors continuously upskill themselves and regularly travel abroad to look at the latest trends and keep us on an international level.
3. The World is getting smaller, take advantage of it!
Rassie made an early decision that he will consider and select overseas players to play in the World cup and by doing this he ensured that we had a squad of 50 exceptional players to choose from. The game has evolved and has become highly professional. Playing in another has nothing to do with the players not being loyal or less proud to be a South African. Rassie knew this, he made an executive decision and never once was this issue discussed afterward.
Similarly, we at Bovest are proudly South African and believe that there are great investment opportunities in our country and especially at this stage, our valuations are very attractive. However we know that South Africa makes up only about 1 % of the worldwide economy and therefore we look across the border to ensure we make use of the entire landscape when advising our clients on where to invest, either by incorporating offshore exposure in their portfolio or by physically taking a percentage money out of the country to invest abroad.
The country accepted and trusted Rassie to be the right man for the job, we gave him time and space to apply his game plan and the rest is history.
Similarly, Cyril Ramaphosa was selected by the vast majority as the best man to lead the country. We must now work together, trust him and give him time to hopefully rebuild our nation to the heights we know we can reach.
Geo Botha CFP ®
Director at Bovest Wealth