“Banking is ripe for disruption.”

“People thought we were crazy, because you have five very big banks in South Africa, very well run and very well capitalized. So, you'd be crazy to be starting a bank in this context, you would never compete against banks of this size… “

Firoze Bhorat, Chief Marketing Officer at Discovery Limited in South Africa shares his insights on how a company can “PUNCH WAY ABOVE OUR OWN WEIGHT CLASS” and take on the juggernauts of an industry in the latest episode of the VIERKLANG Strategy Podcast.

Some of the highlights are…

Why do people leave behind a lucrative position and start working for a start-up?

• Firoze attributes much of his career and personal success to one person: “Grahame Maher” who had created a purpose-driven organization, so attractive, that he changed jobs and moved his family to a new culture.

Years later, Firoze still emphasizes these learnings and successfully infuses them in traditionally conservative sectors like banking and insurance:

• Link Purpose and Strategies: Having a clear business purpose that resonates with clients, forms the cornerstone of a successful brand.

• Committing to constant innovation, sets them apart as a highly innovative brand. Their marketing strategies have allowed them to compete successfully, even as a smaller company, fostering excellence and a high standard of product offerings.

• Attract talent: the brand’s strong presence and leadership have created a magnetic effect, drawing in professionals from various fields.

• Reward failure and take risks.

Listen to the full episode.