As mentioned: We at Young Money decided to be more practical about the issue of the youth making that money, thus have made it a priority to showcase some of the young movers and shakers you should watch out for.
We are now proud to present to you Mr. Prince Skosan CEO of ICT solutions company called NunuCom, young as he is, representing the nations’ innovators and entrepreneurs of the current day at the highest corporate levels. More to come on such produce; Watch the space!
Prince Skosana Brief Profile
Prince Skosana is the founder and CEO of ICT solutions company called NunuCom (www.nunucom.co.za). He has 6 years Market Research experience in the ICT sector where he worked for among others United Nations Industrial Development Organisation based in Zambia (UNIDO – Zambia) and one of the country’s reputable ICT consulting firm Zakheni Communication strategies where he led the establishment of the IT department.
With a Diploma in Electronics Engineering Prince has undertaken a number of groundbreaking assignments in among others South Africa, Malawi, Zambia, Madagascar, Botswana, Zimbabwe, and South Korea on feasibility studies, benchmarking, project management, research, and business modeling. He is also the 2009 National President of Junior Chamber International South Africa (a global network of young active citizens), founded a business Call A Veg (www.callaveg.co.za), Life Coach, personal development trainer and Property Investor.
NunuCom in brief:
NunuCom is a dynamic 100% black owned & managed ICT Company offering turn-key ICT solutions to respond to your business needs. We provide high quality customized solutions as well as products and services to Businesses, Government, Public & Private Organizations, and Professionals
Call A Veg in breif:
Call A Veg is an innovative, vibrant company specializing in Home & Office delivery of fresh fruits & Vegetables. We also do deliveries to restaurants, hotels, caterers etc. Yes, you call and we deliver right at your door step.
Young Money – Can you tell us a bit about your background, what were you doing before current position and where to next?
Prince – I’m the youngest in a family of 5 children. My home town is Soshanguve where I was raised and schooled; I studied Electronics Engineering and further did my internship with the United Nations Industrial Development Organisation Austria in 2002 where I was deployed in Zambia working as a Researcher. Many years went by since then, I always had an entrepreneurial flair and so in 2005 I started my company (NunuCom) while still employed. I later in the years resigned my job to focus on my business full time. In 2008 I then started my second company (Call A Veg). I’m currently fulltime in business and enjoying every moment. The next step is to have a national footprint then a global footprint (for NunuCom in particular).
Young Money -What’s the biggest threat to your industry and activities?
Prince – Not keeping up with the market and industry trends.
Young Money -Can you tell us what inspired you to do what you do as a profession?
Prince – The thought of being in control of how I spend my time and the ability to translate my ideas into a feasible business.
Young Money -A prestigious man of your caliber is scarce; among your achievements which moment in your life makes you most proud?
Prince – Wow, they are many but I would have to say it was the time when I represented South Africa at the JCI Leadership Academy in Japan in 2007; it was a very humbling experience I must say. Only one candidate was chosen per country, there were about 90 of us representing 90 countries.
Young Money – Did you have a particular person you looked up to while growing up/ still have? If so who?
Prince – Yes I did and it’s my mom. She has always been a very wise, spiritual and courageous woman.
Young Money -What’s the last book or article you read that you’d recommend to others?
Prince – A book titled “Good To Great” authored by Jim Collins.
Young Money – What one job should every person have to do at least once in their life?
Prince – ”Volunteer” Not sure if one would call it a job but a person should at least volunteer his time and effort in their life to help others.
Young Money -How do you know when to keep fighting or to cut bait?
Prince – In my books when the goal is not realized it’s a clear indication that one needs to keep on fighting.
Young Money -What inspires you?
Prince – The knowledge that I have control over what I choose to become, and the fact to date I have realized most of the goals I have set for myself.
Young Money -What keeps you awake at night?
Prince – Reading, reading, reading…I like keeping my mind in a tip top shape
Young Money -Who helped you the most in getting you to where you are today?
Prince – I must say quite a number of people contributed towards me being where I am today, however of note it has to be my family, Dr Nyirenda of UNIDO Zambia, and Mr Mlamli Booi CEO of Z-Coms. Also not forgetting Junior Chamber International
Young Money – How much vacation time do you take each year?
Prince – I usually use the whole December month and first two weeks of Jan as my vacation period.
Young Money – What is your benchmark of success? When did you reach it?
Prince – NunuCom with presence in 3 countries; Soon to be achieved, hard at work
Young Money – At this point, does money still motivate you?
Prince – Indeed it does, else I wouldn’t be in business. Lol
Young Money – Describe your life in five words.
Prince – Social, focused, creative, talkative, spiritual
Young Money – What will be the new retirement age for 2009 grads?
Prince – 35 – 40 there are enormous opportunities out there to enable them to retire young.
Young Money – Finish this sentence: South Africa is alive with possibilities because…
Prince – Our legislative and policy framework is one that is people friendly and business friendly.
Young Money – Should the government have a say on executive compensation?
Prince – The executive compensation debate come a long way and I think the government has made good interventions with the establishment of the “King committee on Corporate Governance” in 1994. There seem to be the light at the end of the tunnel as the King III report pays more emphasis on executive pays and further recommends that companies provide full disclosure of directors’ remuneration individually, giving details of pay, bonuses etc. I think this is a step in the right direction.
Young Money – Gold: Hoard it, trade it or avoid it?
Prince – The US dollar is falling so fast of late that people in other parts of the world are asking if gold will replace the dollar as global reserve currency. Gold is a commodity like any other, thus its value can’t be said to be constant. However I think it is very safe to own it as it will always have an intrinsic value.
Young Money – You have R100 million to spend in real estate, what do you buy and where?
Prince – I would build commercial properties in our townships in particular Soshanguve.
Young Money – You wake up dead broke tomorrow–what do you do?
Prince – I cry, wipe off the tears, keep head high and give life another shot wiser.
Young Money – By the time a trend appears in the mainstream press, is it too late for investors to capitalize on it?
Prince – From an investment point of view not it’s never late to capitalize though it largely depends from which industry the trend is appearing. For instance the technology industry evolves so fast you don’t want to wait for the product to hit mainstream to invest.
Young Money – What 21st-century invention (discovered or not) has the greatest potential to change our lives?
Prince – Internet, it has shrunk the world to a size of a soccer ball. Anything else is possible from here on.
Young Money – Do you have a business beyond your current employment / do you intend going into business for yourself?
Prince – I’m already in business.
Young Money – If so which business(es)?
Prince – NunuCom and Call A Veg
Young Money – What’s the biggest business blunder you’ve ever made, and what did you learn from it?
Prince – Committing resources before signing the dotted lines. Lesson learnt; involve your lawyer in all your business deals.
Young Money – How can an enthusiastic competent entrepreneur with a sound business concept and no security, raise capital?
Prince – Open our mind for a possibility of partnership, there’s a lot of people with money out there who would love to be in business but lack the business acumen.
Young Money – What’s the one thing every first-time entrepreneur should know?
Prince – Business Model, that’s backbone of the business.
Young Money – What advice would you give to entrepreneurs on making the right partnerships?
Prince – Trust, Loyalty and Reliability are key in choosing partner.
Young Money – Is it advisable for entrepreneurs to keep a controlling stake rather then a complete buyout, what are your thoughts?
Prince – That’s a hard one to call as it is situation or circumstance dependant.
Young Money – Would you be keen to assist an upcoming entrepreneur that suits your level of engagement and competency?
Prince – Indeed I’m open to share my knowledge and experiences with other vibrant entrepreneurs regardless of weather they suit my level of engagement and competency.
Young Money – Any last words or advice for young entrepreneurs?
Prince – Research, research, research…this is one best way of knowing weather you’ll be in business in the next 5 years, if you are ahead or behind your competition, what strategic alliances you need to forge etc.
Young Money -What do you think of Consciousness Young Money? (http://www.c onsciousness.co.za/youngmoney.php)
Prince – I think it’s a wonderful initiative with a lot of potential to positively impact lives of many of its readers especially the youth.
Young Money – Can you please express your objections, corrections or suggestions to improve it?
Prince – Hahahah, interview questions should be shortened to at least 25. At least readers won’t have to take a tea brake in between the reading. Lol
Young One Go Make That Money!!!!