July 1, 2024 – Success does not come easy. This adage may be clichéd but holds true because it has been proven so many times with the greatest entrepreneurs. Joe Hamman’s story is no exception, and reiterates that a steadfast belief, a clear plan and good old fashioned hard work, ultimately leads to success.
Coming from the industrial hub of Germiston, Joe’s beginnings tell of learning life’s lessons the hard way. From the age of 13, Joe had to jump in, supporting his family through odds and ends jobs such as waiting tables and doing security work at Ellispark. “It was a hard road, and tough, but taught me the value of hard work and taking control of my own future,” Joe says.
It took seven years of learning to work hard, but by age 20 Joe was invited by a stockbroker to break into the world of sales. It was not the fairytale beginning one would expect, and by his own admission, Joe was probably the worst salesperson in the world. A chance meeting with one of Old Mutual’s top financial advisors turned the tide, however, and set Joe on the trajectory of his career that would take this Germiston-boy to the heights that is Novus Group today.
“The advisor saw something in me and took me under his wing, teaching me how to negotiate the maze of successful marketing.” This mentorship would be transformative and usher in the second part of his career.
Headhunted by McGregor BFA, at the time the pre-eminent provider of stock market fundamental research data and news to the financial sector and corporate market, Joe soon learned the ropes of the media monitoring industry. “I realized that the industry was poorly managed, as companies saw media monitoring in the same light as insurance – a grudge purchase with little to no real value return. Most companies would attempt to go it alone, looking for news about themselves, but with no analysis, deriving no benefit from the info they gleaned,” he says. It was the perfect opportunity to turn the industry on its head and bring a fresh perspective and unique business model to the market.
The greatest success stories spring from the ruins of past failures, and with the effect of 2008’s financial crisis still sending ripples into the world, Joe founded Novus Group in 2014. “It was an incredibly risky move, starting a new business in such uncertain times, and with a young family to support. I realised that I could lose everything in 13 weeks, if I did not come up with the goods,” Joe recalls. In South Africa around 70% to 80% of new businesses fail within their first five years, but Joe was determined that Novus Group would not only not become part of the statistics, but would flourish. He meticulously planned his strategy, calculating the number of clients he needed to secure to survive the critical initial period of business, and went to work. It took two years, with the company barely breaking even, but hard work pays off and slowly Novus Group, with Joe at the helm started to turn up the heat.
Today Novus Group is one of the largest media monitoring companies in South Africa, employing 94 people providing innovative media monitoring and analysis. “The success of the company is built on our customer-centric approach and our ability to adapt to our client’s needs. The philosophy is simple: build a product that truly meets customer requirements, and you have a client for life,” Joe says. Concurrently with this belief, lies a commitment to continuously improve, making Novus Group a trusted partner to more than 700 customers.
“Driving a successful company, there is always the fear of failure, but more than that, is the vision of success and believing it will happen through hard work,” Joe says.
Working hard without a goal, however, will not achieve much, and here Joe has some advice for new entrepreneurs. “My best advice would be to take the time to build a sensible and implementable business plan. Be specific and detail exactly what your business should look like and what needs it will serve, as well as a target with set deadlines – a week, a month, a year, and so forth. My business plan acted as a roadmap, allowing me to make the decisions leading to the next steps for my business,” he says.
After the business plan has been put into place, the time is right to start seeking out a strong mentor and then to work hard.
“Find someone who knows more than you do and learn everything you can from them – even if they are from another industry. Then remember to pray often and work harder than any of your competitors. By following your business plan, maintaining a strong work ethos, learning from the experts and remaining humble, a business has every chance of reaching un-dreamed of heights,” Joe says.
Disclosure: We might earn commission from qualifying purchases. The commission help keep the rest of my content free, so thank you!
